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Glimpse of the axe at Pacific Energy

Pierpont

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The late, great Ben Chifley once remarked that if you were going to chop a rooster's head off, it was advisable to show him a handful of corn before letting him see the axe.

Ben was talking about taxation at the time, but the advice is equally applicable to companies. If you're going to take control of a company away from its shareholders, it's a good idea to assuage them with a few dividends or other douceurs first.

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    Original URL: https://www.afr.com/politics/glimpse-of-the-axe-at-pacific-energy-20000714-jl513