From Thieves of Bay Street pg 30Reading this book today and this quote reminded me of Torstar. Remains my largest single loser investment of my investing career
”The fact that such executives were profiting as they weakened or ruined their companies was not so unusual. Indeed, Canada’s corporate culture was clearly changing. There was a move away from building companies through innovation and ingenuity towards viewing business as a personal piggy bank and doing so at the expense of investors employees and the whole economy”.
That is so Torstar. I think a new verb has been created. Value destruction is now defined as torstaring your business. Just like when you google something.
What a disaster!!