‘Without the expressed prior approval of shareholders, most companies shouldn’t donate anything at all to disaster relief,’ Stephen Matthews, spokesperson for the Shareholders Association said on AM (ABC radio) earlier in the week. ‘Boards of directors don’t have a mandate from their shareholders to spend the money in that way. It’s an attempt to shift the cost to a particular sector of the community, that is the shareholders.’ Although later retracted, the comment was revealing.
Certainly, where there’s a buck in it for the company, the marketing opportunities presented by the tsunami for businesses with regional interests are considerable. But marketing initiatives are cropping up all over as companies and institutions with or without regional connections align themselves with the fundraising effort on an unprecedented scale – which has to be a good thing.
The Prime Minister is now talking ‘regional mateship’ – and so far without attracting much mockery and derision. He and Alexander Downer, faced with the worst kind of tangible evidence of our interdependence, have shown, without breast-beating, compassion and leadership.
The response of Australians has been and continues to be truly heartening and there are signs of a shifting of gears that we could learn from.
Why the extraordinary generosity? as Graham Vimpani asks in response to Andrew West’s article in the last issue of NewMatilda. His comments appear in this issue.
View the AM story here