Directors of a mutual company,
are obliged to exercise their powers and duties in good faith, in the best
interests of the company and for a proper purpose.
This means that they
must hold an honest and reasonable belief that the
actions they are taking are in the best interests of the mutual company.
Directors are under constant surveillance to do so and at
risk of being sued or prosecuted if they don’t.
We should expect the same from our politicians and public
servants in duty to the country - and have better means of bringing them to
account.
"The Federal Communications Commission (FCC) in the US issued its first fine for space debris, ordering the US TV provider Dish to pay $150,000 for failing to move one of its satellites into a safe orbit.""The FCC’s action could also help breathe new life into the still-small market for commercial removal of space debris, essentially setting a price—$150,000—for companies such as Astroscale in Japan and ClearSpace in Switzerland to aim for in providing services that use smaller spacecraft to sidle up to dead satellites or rockets and pull them back into the atmosphere."https://bit.ly/3tlrK9E
Disappointment is changing to anger as I read about wasted expenditures
by our governments (state and federal).
Misdirected spending by the Defence Department is an
excellent example of federal government waste, with poor strategic choices,
lack of cost control and many purchases of equipment not fit for purpose.
The Victorian government's program of transport initiatives
is another example of poor strategic decision-making and cost control. To hear
the new Premier claim electoral endorsement was given to the unaffordable rail
loop project and that cost blowouts were just increased investments makes my
blood boil.
It is our money being wasted.
In Alaska, whale watching is a major tourist attraction. There are over 20 tourist boats in Juneau alone.
Humpback whales are protected by the Marine Mammal Protection Act.The federal regulation insures that whales are protected from injury, killing, hunting capturing or harassment.
Vessels cannot approach whales within 100 yards or place themselves in the whale path causing the whales to surface within 100 yards of vessel.Captains must use a radio to coordinate other boaters and take turns viewing the whales as to not disturb them.Tourist companies are requested to educate passengers in regard to these regulations.
Recent political and business events remind us that all leaders –
be they in government or business – should embrace and practice the Hayne Royal
Commission’s six fundamentals:
1. Obey the law
2. Do not mislead or deceive
3. Act fairly
4. Provide services that are fit for purpose
5. Deliver services with reasonable care and skill
6. When acting for another, act in the best interests of that
other.