amp - obscene payouts rule

Hi All
So the rats have started to abandon the good ship AMP?
After decades of steady growth on the backs of hardworking and diligent employees (including my father – approx 38years) these recent executives and board members have destroyed company wealth to the tune of $2 billion dollars in 5 short years and still walk away with obscene amounts of money. Refer SMH article today. My father recently advised me how he had to account for every last cent when he worked in various positions in AMP over the years. What a contrast.

Sadly these recent bunch of overpaid high calibre idiots have little to no understanding of Global Business Cycles. Sharemarkets do not keep going up. This is a fact.!

If they had been smart, AMP would now have been fully cashed up ready to make some value investments in companies at very good prices over the next 1 to 2 year period. Therefore providing genuine growth and investment returns for the future, for shareholders and loyal staff.

Alas, AMP is now struggling with no idea to go forward. Mr Mohl seemed totally shattered in the interviews yesterday. He gave me no confidence at all.

The lesson is: BUY STRAW HATS IN WINTER NOT WHEN ITS 42 degrees C

and

DO YOUR HOMEWORK before you BUY. If the deal isn’t going to bring (AMP or any Aussie company for that matter) long term benefits and increase shareholder wealth then walk away.

It’s not ROCKET SCIENCE, but obviously it is for these Directors and Board Members.


Philip A Brooks
Disgusted AMP Shareholder