[lbo-talk] re: biz ethics and slavery

Bill Bartlett billbartlett at dodo.com.au
Fri Aug 13 06:33:23 PDT 2004


andie nachgeborenen wrote:


>Actually, this is cheap cynicism that shows a mistaken grap of the
>nature of markets and business activities. Business runs mainly on
>trust and requires an fairly robust ethical standard. If it's all a
>cheat and and sham, then any market system would collapse in very
>short order.

This must be a sign that the building products market is on the verge of collapse:

http://www.abc.net.au/insidebusiness/content/2004/s1171396.htm

"...Three years ago, James Hardie redomiciled in the Netherlands, leaving behind the shell of its Australian holding company - James Hardie Industries Limited. It won court approval for the move after assuring that partly paid shares in the old holding company would provide a financial lifeline worth nearly $2 billion to asbestos victims. Then it cancelled the partly paid shares, leaving the foundation it established to pay claims facing possible insolvency. "

Bill Bartlett Bracknell Tas



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