The Big Guys and Their Capitalist Visions

Here is another example of rampant capitalism in action!

I contend that the directors of ASX listed companies don’t give a stuff about their customers; they only care about increasing shareholder value, so they and their executives can receive huge pay and bonuses.

Customers are therefore simply a means to that end.

Need proof?

If so, check out their VISION statements as published in their annual reports or on the web site.

We all know these ‘famous’ visions that changed the world:

Ray Krok, McDonald’s – ‘Fast food’

Fred Smith, Fedex – ‘Anywhere is USA, absolutely, positively overnight’

Bill Gates, Microsoft – ‘A computer on every desk and in every home’

These 3 companies have been amazingly successful…and interestingly no mention of shareholders or money!

Here are some Aussie examples:

City Pacific Ltd – ‘To improve the net financial worth of shareholders and investors’

Babcock & Brown Ltd – ‘We focus on the creation of long-term sustainable value for our shareholders’

Banksia Securities – ‘To grow into a highly profitable, non-bank financial institution managing significant investment funds, benefiting shareholders’

McAleese Group – ‘To leverage our scale, track record, management expertise to develop profitable, sustainable businesses’

Question 1: What was the fate of these companies? Answer – THEY ALL WENT BROKE

Question 2: Who was their key focus? Answer – SHAREHOLDERS & MONEY

Their visions did not save them from screwing their customers, marketing C.R.A.P. and ultimately LOSING their shareholders wealth!

Interesting, under the rules of capitalism, their competitors became winners! More on that in a later post.