Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,699
- Reactions
- 10,314
https://www.theage.com.au/business/...e-royal-commission-finds-20211026-p5933a.html
I come not to praise CWN but to bury it. Or something along the lines of that Shakespearean quote.
Many ASF members would never have had the misfortune to live in Toorak. I have, and believe me there are better neighbours one could have. It is said that behind every great fortune is a great crime and this applies to many of that Melbourne borough.
Equally the average IQ of its inhabitants is in inverse proportion to their appearance at charity do's, on instagram, in the financial and real estate press and in the social pages of our news outlets.
CWN is the epitome of Big Melbourne, a carcass of rotting festering poor governance going right to the very top. The only reason it has not been delisted is political. It employs I am told 11,500 Victorians.
This figure can be multiplied by three as at a guess over 20,000 hookers, uber and taxi drivers, con-men, interpreters, jewellers and pawn shops depend for their daily livelihood on the Casino at Southbank.
The odour of poor governance extends not just to the board and senior management but to governments both state and federal who turned a blind eye to the criminality which has been the mainstay of CWN's balance sheet forever.
I note today the price has leapt 10% on the news of it's salvation from the wreckers. I believe this will be short-lived. The price action today may very well be a pump and dump led by the brokers in Melbourne with addresses more than likely in Toorak.
Never in the history of a stock would the phrase "buyer beware" be so apt.
This does not count the dirt that the Chinese government would have on CWN, available to be dumped, bit by bit over the next few years, to its advantage.
Long may CWN float down the Yarra.
gg
I come not to praise CWN but to bury it. Or something along the lines of that Shakespearean quote.
Many ASF members would never have had the misfortune to live in Toorak. I have, and believe me there are better neighbours one could have. It is said that behind every great fortune is a great crime and this applies to many of that Melbourne borough.
Equally the average IQ of its inhabitants is in inverse proportion to their appearance at charity do's, on instagram, in the financial and real estate press and in the social pages of our news outlets.
CWN is the epitome of Big Melbourne, a carcass of rotting festering poor governance going right to the very top. The only reason it has not been delisted is political. It employs I am told 11,500 Victorians.
This figure can be multiplied by three as at a guess over 20,000 hookers, uber and taxi drivers, con-men, interpreters, jewellers and pawn shops depend for their daily livelihood on the Casino at Southbank.
The odour of poor governance extends not just to the board and senior management but to governments both state and federal who turned a blind eye to the criminality which has been the mainstay of CWN's balance sheet forever.
I note today the price has leapt 10% on the news of it's salvation from the wreckers. I believe this will be short-lived. The price action today may very well be a pump and dump led by the brokers in Melbourne with addresses more than likely in Toorak.
Never in the history of a stock would the phrase "buyer beware" be so apt.
This does not count the dirt that the Chinese government would have on CWN, available to be dumped, bit by bit over the next few years, to its advantage.
Long may CWN float down the Yarra.
gg
