Saturday, February 13, 2010

Pub Co Business Partnership

Inez; Nigel. All. You know it's for such reasons as this that pubco power has to be broken. This particular instance of corporate insensitivity may be on extreme side but reality is that it's at the end of a very well worn spectrum of dodgy, immoral and completely unacceptable company behaviour that runs endemically through the pubco world.

As you said in your article in 'the other paper' Inez, not ALL pubcos are bad pubcos - and this reality should be recognised. On that point I've heard anecdotally three lessees of different pubcos praise their freeholders and the relationship they have with them. These are all companies with less than 100 outlets. In the grand scale of things their presence in the market is negligible if not entirely insignificant in that they provide the exception to the rule and could be taken as a model for the tied model that actually works against the broken, carbon copy, morally bankrupt business scam that's slavishly implemented by all the majors.

Just yesterday I heard of three examples of pubcos currently abusing their position toward tenants, all things they have sworn in front of BESC and BISC that they are not doing, will be stopping never to repeat - and things which BBPA and BII sanction by turning a blind eye of denial toward.

There is no room for such behaviour by companies toward individuals in any version of contemporary society. These are some of the reasons why pubcos must not be let off the hook, their directors brought to account and their practices stamped on heavily without prejudice. The executives who preside over these abuses ought to be ashamed of themselves and the companies they have fostered and nurtured into existence.

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