It's sad to see a company such as CEC go bust and I feel sorry for Roy and his employees. But its not the fault of the Commonwealth Bank. Roy hired the wrong people to run his company and advise him. It is the exact same scenario as Hedley. Both got too big too quickly and borrowed too heavily to sustain the expansion momentum.In a nutshell, greed has been the cause. Now the advisors have long gone with their pockets full and the contractors, employees and local businesses are all suffering.
Posted by: Brian of Cairns 9:17am today