For better
or worse, I am old enough to remember the high profile corporate careers of all
these heroes of 1980’s Corporate Australia.
Between
them, they seemed to own everything, or if they didn’t, were in the process of
buying it.
From
transport to media, brewing to banking, they were the high flying, high worth corporate
superstars of the era.
The binged
on freely available debt and a stock market that was on a bull run. They wined,
dined and travelled in style and when they arrived at the travel destination,
luxurious accommodation was normal.
Private jets
and private yachts were complemented by art collections acquired at record
prices and of course, some were players in the racing industries.
They were
media stars too, happily appearing on TV, in glossy magazines always
comfortable showing the lifestyle of the rich and seemingly famous.
They were celebrities,
although less so Robert Holmes a Court.
Then it all
unravelled and in more than one case, jail terms were served while another
escaped legal scrutiny by fleeing overseas and then being deemed to sick to
travel home.
It was very
much a case of celebrity over substance and many retail investors lost a lot of
money as a result of buying their shares.
This experience
should be a reminder that substance is always more important than celebrity in
all walks of life.
There are
sporting example too with Russian tennis player Anna Kournikova being one of
the best examples. Her celebrity
certainly out shone her ability as she achieved an extraordinarily high
profile, despite never winning an open singles title (source Wikipedia).
The world of
politics seems to be moving in the direction of celebrity too. The French and
Canadian Presidents may well prove to have substance however there is much
concentration on the appearance and personality as on their policy and
political courage, something they embrace and encourage.
Boris
Johnson appears to be pursuing his political ambitions more on celebrity than
substance, although time may well prove otherwise.
When
celebrity is embraced by a politician and where there personal and professional
lives mould in to one, the fall in the event of an indiscretion is all the more
rapid and all the more damaging.
And of
course, America is the hoe of the Celebrity Politician. We have had a movie
actor become President and another become a Governor and of course, we have the
reality TV star in the White House at the moment.
Be it
business, sport or politics, substance will always be the ultimate victor.
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