Other People's Money : Insiders at the stricken Sydney-based insurer helped themselves to more than $10 million in last-minute Cash settlements while the company's policy holders had to put up with a trickle of payouts that was just fast enough to escape official intervention, but nothing like enough to be fair. While HIH held off paying insurance claims because of a cash flow crisis, Ray Williams had overseen a massive spending spree - $1500 worth of jellybeans; a clutch of gold watches worth almost $10 000 each; and four nights a week at the Intercontinental Hotel in Sydney for William's personal assistant, for most of the previous year. Other People's Money traces the biggest corporate failure in Australian history, focusing on the key players in the drama: the paterfamilias figure of Ray Williams; Rodney Adler, indulged son of businessman Larry; and Brad Cooper, one-time jeans salesman and motivational speaker - as well as an array of lesser characters. This chronicle of arrogance, ignorance and self delusion has more unusual and surprising twists than the most far fetched work of fiction.
|Negocios y Economia||Insurance|