Marc My Words.
Marc My Words.
From Marc Alexander MP 14th Feb. 2003
United Future NZ-Christchurch Supplement
If you had some spare change and were looking to invest would you consider the following project? Here's a brief rundown of its attributes: Its origins go back to a determination that its 'product' was a duty backed by the Crown1.
Sounds good? But that was nearly 10 years ago and the blueprint for the venture, although laid in 2001, is one drawn in sand rather than stone.2
The Chief Executive who was initially appointed (through a woefully inadequate vetting procedure) was later discovered to be a Canadian who had falsified his CV and ended up bankrupt and in Jail.
Worse, it was suggested the 'product' might have to be delivered by alternative suppliers because a satisfactory outlet had yet to be found!3 In fact the deliverability of this 'product', when and if it happens later this year, is to be accessible to only about 22% of potential customers (as opposed to 95% coverage achieved by other providers).4
On top of all this, two individuals from one of the key suppliers to the enterprise were at the centre of a scandal at ATN5 involving the spending of around $8000 each on clothes, travel and five-star hotels. One of these individuals was later given an additional $1.6 million to make yet another 'product'.6
And what about the vacated
position of Chief Executive? Well, learning nothing from
their previous snafu, and after an apparently extensive and
expensive recruitment process, Derek Fox, one of those
engaged in the interviewing process suddenly switched chairs
and assumed the position himself! Frankly, the roulette
wheel suddenly looks like a better investment to me. You
know what; I think I'll keep my money in my back pocket!