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The past decade has seen a
period of unparalleled growth in executive remuneration. But while CEO
pay exploded, shareholders looked on helplessly as some of Australia's
best-known companies self-destructed. When the fall eventually came,
executives were well protected. Shareholders and creditors were not so
lucky.
From Telstra's enriching of Sol Trujillo to the toppling of Eddy
Groves's ABC Learning Centres and the untold accounts of the billions
lost by the collapsed Babcock & Brown, Allco Finance Group and MFS,
Pigs at the Trough tells the story of how a generation of
executives, under the supervision of well-known and respected
non-executive directors, pushed all the boundaries and sometimes sailed
right over them ... and got away with it.
A pacey, irreverent read but with a devastatingly serious message,
Pigs
at the Trough gives investors invaluable insights into how to spot
the telltale signs of impending corporate collapse, and how to avoid
being another victim.
About The Author Adam Schwab was a corporate lawyer at one of Australia's largest firms before becoming a
founding director of the privately owned diversified accommodation and
services group AJ Capital. Since 2004, Adam has also been a financial
journalist and business commentator for Australia's largest and most
influential online publication
Crikey, and a business
contributor to Fairfax publications, including
The Sydney Morning
Herald and
The Age. Schwab has also acted as a corporate
governance adviser to Australia's largest institutions and fund
managers.
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to see inside this book.
About the author.
Acknowledgements.
Preface.
1 Telstra.
Dialling up a loser.
2 ABC Learning Centres.
How Australia's richest man under 40 built a childcare empire on foundations of sand.
3 MFS.
How the Gold Coast white shoe brigade got a second chance - and blew it.
4 Village Roadshow.
How the Kirbys became their own leading men.
5 Toll and Asciano.
For whom the cash tolls.
6 Allco.
A fall from grace.
7 Babcock & Brown.
How the house of cards of Australia's financial engineers came crashing down.
8 Timbercorp and Great Southern Plantations.
Australia's rural tax rort comes up a cropper.
Epilogue.
Notes.
Index.
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