[LINK] Hardie's Decision ...

[Frank O'Connor]

http://www.theage.com.au/business/hellicars-board-ban-overturned-20101217-190uy.html

So,

1. Non executive directors aren't responsible for the actions of the 
board's they sit on, unless they have been extensively briefed on all 
matters - and they have no oversight responsibility at all.

2. Non executive directors (and presumably their executive brethren) 
can sign off on the Minutes of meetings, but that is not to be taken 
seriously.

3. The corporate veil protects everyone who would otherwise be 
responsible for the acts or omissions of a company, seemingly without 
restriction.

Hey, with Hardie it looks like the government is picking up the $2 
billion tab ... no matter what the politicians say ... so if the 
company isn't going to be held to account, why should we hold the 
directors to account?

And what the heck, now that the company is permanently resident 
off-shore why should they be held responsible for what happens to 
thousands of dying asbestos sufferers in Australia?

The corporate veil, guys. Our judicial system seems to live (and let 
thousands of others die) by it.

The question now remains as to why these people (directors, 
politicians, judges etc) are remunerated in any way given that they 
are not responsible or accountable or even look to have the 
responsibility and accountability applicable to a three year old 
child.

Just another one of those inexplicable facts of life like why we are 
hit with penny ante-ing credit card charges by those traders we deem 
worthy of our custom, why delivery services never actually deliver 
any more (they simply whack a note in your letter-box telling us 
where the item can be picked up), why power and utility charges can 
increase by a factor of 80% in a year and we just go along with it, 
why false advertising and outright lies are de riguer in our 
corporate sector, why telecommunications products are so confusing 
and comparatively more expensive each year (one would have thought 
that the 'efficiencies' the telcom executives boast about would have 
led to reduced costs) why bank fees and charges can become so legion 
and why both depositors and borrowers can be ripped off on interest 
... the list is legion and, hey ... the apathy of our times I guess.

We just take it up the ass.

I love this country ... given a skerrick of a chance our so called 
leadership (government, business, financial, judicial or whatever) 
will abrogate their duties, rip of those they are supposedly 
accountable to, commit all manner of crime and misdemeanor, and 
maintain that they are not responsible or accountable for anything 
bad that happens of their so-called 'watch'.

Why do we tolerate these clowns? Why do we let ourselves be ripped off?

Just a rhetorical question folks ... I'm well aware is that the 
answer is we get what we deserve.

					Regards,