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Oz Regulator (ACCC) hauls Coles before the Federal Court for Corporate ‘Extortion’
by joe Monday, May 5 2014, 1:15am
international / prose / post

In the plainest possible language the ACCC, after a TWO YEAR detailed investigation, has once again dragged Coles before the Federal Court but this time for what clearly amounts to Corporate ‘extortion’ -- and people wonder how bonus-chasing CEO, Ian McLeod, ‘managed’ to pull a grand total of $55 million income as MD of Coles.

Ian McLeod

A little background on Coles’ foreign managing director, Ian McLeod, and his sordid methods is required.

McLeod, a UK citizen, was hired by the geriatric Board of Wesfarmers to run their newly acquired supermarket chain Coles, which was so badly mismanaged by its former golf-playing upper management that it’s performance could only improve.

Like any globalist CEO, McLeod negotiated for salary, shares and performance based bonuses with the unworldly, wheelchair-bound Board of Wesfarmers. Most of McLeod’s bonus targets appeared impossible at the time so invalid-feeding Wesfarmers agreed to pay huge bonuses if certain ‘impossible’ targets were reached, but little known to the naive and over-the-hill Board of Wesfarmers, pommy citizen McLeod, with a record of being dragged before the Courts in the UK, knew exactly how he would reach those ‘impossible’ targets -- by CHEATING, LYING, MISREPRESENTATION, FLAGRANT VIOLATIONS OF TRADE PRACTICES, UNFAIR LEVERAGING, INTIMIDATION, PLAIN DISHONESTY and now CORPORATE EXTORTION -- his last OBSCENE pay packet tells the tale.

After compromising a trusted traditional Oz retailer Coles, by squeezing the wages of dark-skinned staff that know no better, knee-capping the dairy industry by re-constituting milk from imported ingredients -- that’s right Coles brand RECONSTITUTED milk is not a natural milk -- destroying an 80 year traditional fruit growing region in Victoria, sourcing cheaper South African and Chinese products and squeezing large and small suppliers, McLeod, true to the SORDID, COWARDLY character that he is, stepped down from his position as MD without an immediate position to fill, a few days prior to an ACCC court case involving false advertising and false claims. Foreigner McLeod, armed with the purchasing leverage of a supermarket chain, was essentially destroying independent food production in Australia (sustainability) while he cleaned up on a personal level.

The only mitigating factor in McLeod’s destructive rampage and self-seeking was the Oz regulator, the ACCC -- dumbarse, corporate-serving Liberal politicians employed by the nation to protect fundamental essential industries, were the last to wake to the tactics of this self-seeking, bonus-chasing at any cost, cowboy CEO!

Today’s news -- not the last of it I would add -- of McLeod’s tactical EXTORTION of $16 million from smaller suppliers only surprises the invalid-feeding Board of Wesfarmers that are ultimately responsible for not reining-in THEIR nationally DESTRUCTIVE, hit-run, cowboy CEO -- Aussie investors take note of this anti-Oz company!

The latest case involving McLeod’s SORDID standover methods is typical. McLeod squeezed to virtual death smaller Aussie suppliers in order to ensure his bonus benefits; he forced, with Coles’ purchasing leverage small suppliers to involve themselves in a scheme which amounted to paying extra ‘rebates’ to Coles totalling over $16 million -- any professional standover or ‘protection racketeer’ would be proud!

The McLeod case is a cogent warning to the nation and Oz companies in general -- McLeod is clearly a destructive, self-serving, “sociopathic” CEO -- a new genus of manager that must be tightly contained if not jailed for their destructive practices and crimes; and that is my final point.

Every effort should be made to make an example of McLeod via the criminal jurisdiction. Hundreds of existing abused parties should seek compensation and reparation from Coles/McLeod for the damage he inflicted on local industries, traditional producers and long-established family businesses. McLeod is clearly a dishonest, deceitful, criminal extortionist and should not be allowed to leave the country until justice is done.

Furthermore, most of McLeod’s obscene income amounts to ‘proceeds from crime’ and the watchdog should pass all pertinent information of McLeod’s criminal activities to the relevant authorities.

Prosecuting and jailing McLeod would hopefully sound a very clear warning to other white-collar criminals that imagine they are immune from prosecution.

Finally, McLeod is a known runner and should not be allowed to leave the country until such time as all cases against him have been heard, settled or he is jailed for his criminal activities.

[Australian companies would do well to employ resident Australian nationals to upper management positions -- take note Aussie investors.]

http://colescomplaints.zapto.org/