Bankruptcy games

When firms are facing bankruptcy they engage in all sorts of perverse behaviour. This is due to the the concept of limited liability – all upside accrues to the shareholders while the creditors bear any losses. Stock standard stuff. This brings me to The Age’s sports columnist Caroline Wilson. She is writing columns that expose her employer – The Age – to legal liability for defamation while we expect every day an announcement of closure.

We could state with some clarity that this is what WADA sees.

Primarily, it sees a football club, Essendon, still determined to lawyer up and drag itself and its code through a lengthy court battle despite its own internal device inquiry that concluded it ran a pharmaceutical program never adequately controlled or checked.

Second, it sees a senior coach, charged with the responsibility towards of its players, who employed people who regularly injected them with allegedly banned drugs. Drugs which on Thursday led to 34 of them receiving show-cause letters. A coach who is being paid to take a gap year and had his contract extended by two years. A coach who continues to blame others and a club that still cannot see that it must cut him loose.

WADA also sees two other Essendon assistant coaches, Mark Thompson and Simon Goodwin, who failed to prevent the program and knew all about it, both promoted and given pay rises. Thompson raised the alarm but ultimately the program continued. It sees the then chief executive of the club, Ian Robson, who either knew or failed to know, shifted from Australian football to soccer and to one of that code’s biggest clubs.

And, perhaps most shamefully, it sees the experienced club doctor who was so concerned about the drugs program he wrote a heartfelt letter to the coach and the football boss complaining about it. And then continued to work at the club without further official complaint as the program intensified. A doctor who went unpunished and still runs the medical program at the club.

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19 Responses to Bankruptcy games

  1. Jack Lacton


    And one hopes that Essendon takes them all to the cleaners.

  2. Aristogeiton

    Ummm, directors have a duty to creditors when facing insolvency to wind up. This is backed by civil penalties. I’m not looking it up drunk, but I don’t think the premise of this piece is correct.

  3. Infidel Tiger

    I don’t say this lightly – she is not a nice lady.

    Fairfax is the only media organisation I know of that employs sports writers that hate sport with a passion and business writers that hate private enterprise and capitalism with a passion.

    That company is a stuttering clusterfuck of a miserable failure spawned from the ass of a jackal.

  4. Sinclair Davidson

    Aristogeiton – are they trading while insolvent? That’s a huge call.

  5. .

    Caroline Wilson and Rebecca Wilson are the Antichrists of Australian sport.

  6. Tiny Dancer

    FMD, you get a point for missing. Other than the leftard angle of the hypocrisy, fat Andy, blah blah blah, who cares?

  7. Perfidious Albino

    She has to keep doubling down now or admit she’s been played by Demetriou and the (socialist) forces of evil in the AFL. He’ll, for all I know she’s a lefty pinko who buys into it all anyway and it’s just suited her natural inclininations…

  8. Perfidious Albino


  9. Megan

    A woman of limited analytical ability who thinks she is the cleverest thing in a skirt. Deadly combination. And what IT said at 10:33pm.

  10. Free Advice

    She should just stick to reporting the footy scores and who played well.
    Leave the off field gossip to the educated yobbos in suits on TV.

  11. Menai Pete

    She is wrong from. ASADA is the Australian authority. WADA is the world authority and has nothing to do with the current controversy.

  12. Craig Mc

    WADA is the world authority and has nothing to do with the current controversy.

    Until it does.

  13. Badjack

    The above mentioned Ms Wilson from Fairfax along with Mr Patrick Smith of The Australian were more than willing to jump on the Gillard Govt and ASADA’s claims from the get go. They have preached and opined from that day the line of that Govt and ASADA. Neither cannot now bring themselves to face reality and report the facts, rather they choose to write that which suits their long held opinion

  14. steve

    Caroline Wilson tells us what WADA can see. It seems to me that she is telling us what she can see, not WADA………and I think you will find that if she opens her eyes, the only thing she could see would be her own colon.

    “my, it’s dark in here”

  15. Docket62

    “That company is a stuttering clusterfuck of a miserable failure spawned from the ass of a jackal.”

    (Still wiping tears from eyes)

    I have nothing but utter contempt for that rag, and far less then contempt for the arse wipe Wilson. There is little doubt that the attempt by ASADA to cover it’s own arse will fail. When it does the AGE newspaper and particularly Wilson should be added to the list to recover damages. I’d also throw the Smith arse wipe in for good measure. I think the compensation might be large enough for the AFL to have to close down Gold Coast and GWS to pay the debt.

  16. Mike of Marion

    As an act of bastardry, I wouldn’t shut down GWS or Gold Coast – I’d close Footscray and St Kilda!!

  17. She reveals her hatred of dissent from official narrative. WADA should get nasty simply because Essendon resisted. Typical leftism. Get along = do what i say.

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