In the New Economy, we get Control by Giving it Up! January 6, 2016 21:00

I did not meet or know the late Reg Kermmode of Cabcharge, but all indications were that he wielded serious control over his company and the industry. Colin Kruger, an SMH journo wrote in 2014, shortly after his passing that Cabcharge  "retains the insular culture developed by Kermode, who orchestrated the company's ascendance by means both fair and foul. In 2010, the Australian Competition and Consumer Commission settled a lawsuit against Cabcharge, alleging misuse of market power, with a $14 million fine. ACCC chairman Graeme Samuel later lashed out at executives, including Kermode, over their lack of contrition over the episode”. The share price in 2007 under Kermode’s steely grip, $13, today less than $3. Read more...