Sunday, July 17, 2011

“They think it’s all over…it is NoW”


This post should have been entitled "Corporate Governance and News Corps" but I could not resist stealing this headline (from Guido - first time for everything in life). Mind you it was a pleasure this morning to go into my local newsagent and see no "News of the World" (NoW) for sale.

Is it just purely coincidental that NoW had a corporate culture that thought hacking into the phone accounts of murdered children and destroying evidence was acceptable journalistic practice when the parent company News Corps had been condemned time and time again for rotten internal governance?

PIRC sent out a report reminding members that News Corp was in the worse 5% of S&P 500 companies for governance. Not least for the connection between BSB Chair (and former CEO) James Mudock and his father.

If you have rotten governance you will have rotten practice. Why have investors (inc. Pension funds) allowed this to happen?

Update: check out the words of wisdom from Tom P here and his post on Myners here.

6 comments:

Damien McKee said...

I take it like me you aren't thrilled at the possibilty of The Sun producing a Sunday edition?

John Gray said...

Er..No

Damien McKee said...

In other words you wouldn't be buying it?

John Gray said...

nope

Anonymous said...

Talking of hacking. I have noticed the Newhamgrad blog disappear. They recently posted a message to say they were hacked.

I wonder who could have done it?????

John Gray said...

http://grayee.blogspot.com/2011/07/i-am-innocent-man.html