Frequent visitors of this site may remember I have a special interest on this dinosaur of finance. (For example, see http://ccszeto.blogspot.com/2009/10/back.html and its related entries.) This time, once again I was so impressed with this ingenious move - both in terms of the strategy as well as the tactics - that I lost my nerve. My friend JW wrote on his Facebook the next day that he was fortunate for not being a shareholder of this company. Neither am I. Nonetheless I remains its customer - and am therefore equally concerned.
**************************
I shall not join the discussion on Corporate Social Responsibility, or whether it is moral for a company to maximize its profit by all legal means. Alas, I have a very low moral standard, and I always suspect there is an equal number of, if not more, widows and retiring persons who could only make a reasonable living if the wounded lion increases its dividend.
But, to begin with, there are better ways to fire people.
Let me explain tomorrow.
1 comment:
To be consistent with my investment strategy, I have already moved 80% of my assets away from this bank in the past 2 years.
Post a Comment