Reply to post: A Big Ole Scam

Australia's Dick finally drops off

rtb61

A Big Ole Scam

Basically is seems more like the efforts of vulture capitalists. Buy up a company doing relatively well and then pump the fiscals to make it way better before selling it off publicly (expand stores, pump up increasing revenues and ignore falling profits, shuffle debt to make the short term look better even though it makes the long term much worse, cut costly experienced staff for cheaper high turn over staff etc.). That pumping feeds short term profits but kills the company long, real dead end stuff, they don't care, they are going to sell it long before it goes bankrupt.

They do not give a crap about anyone but themselves, scam the investors, put staff out of work and let down customers, they don't care, they stroll of with tens of millions of dollars in profit in this case hundreds of millions. There is a lot more corruption in Australian business than most would believe.

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