Waking up to demand better transparency

Finance
with Don Fraser
Fraser Farm Finance

Recently we were travelling in America with all the noise around Dr Christine Blaisey Ford versus Brett Kavanaugh with Trump in the background – and,  it inspired me to think about the meaning of truth.

It seems that lies and dishonesty are now acceptable. Or are they?

I know someone employed in organisational psychology. She’s employed to look at the issues, seek out the key people and after getting their express permission, tell them the “truth” about her findings. She tells them what’s really happening in that business, not just what they want to hear. Organisations seem to run on myths and beliefs, but nobody wants to face the truth.

Dare I talk about Fonterra? It was revealed last month New Zealand’s largest company suffered a historic $196 million loss – the worst performance and first ever loss in its 17-year history.

Bureaucracy

Former Fonterra chief executive Theo Spierings has exited after being paid millions and we still do not know the truth! The bureaucrats in Fonterra don’t really want us to know the truth either. What about the losses in China? And then you have the Shareholders’ Council, which is just another layer to listen and placate the suppliers. It is just another level of bureaucracy. Fonterra, as a monopoly, takes the farmers’ supply, manufacturers it, sells it to the world, banks all the proceeds and then – and only then – decides how much they will pay the farmers.

One could say local community boards, by and large, are another layer of bureaucracy protecting councillors and council from the truth – which the ratepayers are trying to find. I think the public are starting to wake up and demand better transparency.  

Fake news

Once I travelled to the South Island to claim my fees after helping a farmer out of an incredible hole and saving his business, but he refused to pay my costs. So, off the Small Claims Court I went to witness him telling bare-faced lies. I was dumbfounded and speechless so much so that I couldn’t even yell out: ‘You are lying’ – and he got away with it. No fees for Fraser. I felt gutted that I’d allowed this client to beat me with a bunch of lies.

And now there is fake news. How does that work? Who are the perpetrators? You see politicians fudging the truth all the time and when they get cornered they employ media consultants and public relations companies to cover their tracks. Mr Trump, in charge of the world’s largest economy, is full of lies – but he uses them to his advantages and he attacks by overstating the position then retracts to something more palatable. Sadly, there’s politicians in this country copying his style. It now seems lies are acceptable in politics.

In my years as a consultant I refused to work for anybody who ever slightly fudged the truth.

So go in peace and always tell the truth, you can sleep easier and you don’t need a big memory to cover the last lie.

Disclaimer – These are the opinions of Don Fraser of Fraser Farm Finance.  Any decisions made should not be based on this article alone and appropriate professional assistance should be sought.  Don Fraser is the principal of Fraser Farm Finance and a consultant to the Farming Industry. Contact him on  0800 777 675 or 021 777 675. A disclosure document is available on request.

0 Comments

There are no comments on this blog.

Leave a Comment

You must be logged in to make a comment. Login Now
Opinion Poll

We're not running a poll right now. Check back soon!