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I Want to Be an HIH Waiter
 Well,
isn't the investigation into the HIH crash a real eye opener
of how corporate business gets done in Australia?
Marble bathrooms in offices, overseas trips for managers'
families, free gold watches, expensive cigars - and all for
doing their jobs. And not very well, it has to be said.
Anyway, the former head honcho, Ray Williams, has told the
HIH Royal Commission that he gave away a gentle $14.4 million
to friends and colleagues in the months before the insurance
giant went arse-up.
That was about the time staff were told not to pay out on
insurance claims made by people who had given HIH money believing
they were covered in case really nasty things happened to
them or their property.
But, the most heinous thing that jumped out at me was the
fact that this guy spent $9000 in restaurants in one month.
But, better yet, he gave an extra $2600 in tips. The reason
he gave was he wanted his business mates to have the very
best service.
Oh, to have been the waiter who saw that little 10% coming.
Just goes to show Williams' maths and ability with percentages
was as cock-eyed as his business sense!
The more that comes out about the way both HIH and One.Tel
- the other major Aussie corporate nosedive - were run should
make everyone with enforced superannuation invested in Australian
companies extremely worried.
Now Mr Williams, was that four or five bottles of Grange?
If there is something that has really got up your nose,
let Grumpy Old Coot know at grumpy@webwombat.com
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