Outsider, for reasons which he would rather not discuss, is familiar with the “dark arts” of spin doctoring and therefore believes that industry fund, HostPlus, must have received some “medical” advice when compiling its submission responding to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
In particular, Outsider believes those advising HostPlus must have drawn upon what was always known as the “Fawlty Towers” or “Don’t Mention the War Technique” – essentially a strategy which involves not mentioning the rather large and noisy elephant in the room.
In the case of HostPlus, that elephant was the large sums of members’ money the Royal Commission heard had been spent on corporate hospitality, including boxes at the Australian Open tennis.
The HostPlus submission dwelt at some length on member communications but at no point did it mention corporate hospitality.
As Basil Fawlty said: “Don’t mention the war”.
Outsider is sure, however, that the Commissioner Kenneth Hayne, clearly espied the elephant in the room.
Comments
Whilst I would not excuse or defend that "Elephant in the Room" issue; it does pale into insignificance when comparing the great performance of the Industry Super funds like Hostplus to such as the bank and retail funds !!
Read the PDS for Host please phillips as your comments lead people to believe your knowledge and research is based on the recent TV ad. Do better.
No, thats not right as its based purely on the published performance tables available from various sources as well as experience
In the same way that Gojo berries haven proven various benefits?
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