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Michael, about 3 years ago I applied for an Executive Assistant role in Slater and Gordon. I received notification that they had received my application. After that crickets !! They didn't even have the common decency to inform me that either 1) I wasn't qualified enough for the role, which I was, or 2) The role had been filled. I am so glad I didn't get the job.
Posted by: Maree | Tuesday, 28 February 2017 at 12:47 PM
Going, going...gone! Bottom of the harbour, next stop.
Posted by: Truth_Will_Out | Tuesday, 28 February 2017 at 12:53 PM
Thanks Michael for giving us a reason to smile this morning.
Posted by: Margaret Gallin | Tuesday, 28 February 2017 at 01:01 PM
When S&G fold up, will the hitherto "protected" Gillard files and historical come to the surface if they haven't already been destroyed.
Posted by: Bert Albert | Tuesday, 28 February 2017 at 01:02 PM
They have been destroyed, for sure.
Posted by: Truth_Will_Out | Tuesday, 28 February 2017 at 01:43 PM
How sad and pathetic is your business accumen , when your company which is top heavy with dodgey overpriced lawyers and cushy Union contracts still can't become profitable and continues to hemourhage money... are you sh*ttin me ....ROFLMAO.
Me thinks someones crew has been sneaking cash out the back door for a long long long long time ..maybe even as far back as the 90's ? .
Posted by: Political speedbump | Tuesday, 28 February 2017 at 02:00 PM
TEN CENTS only (after further 18% drop). Was 16 cents last week. SGG ASX aka Slater and Gordon are as so TOAST they are creating carbon.
Posted by: TazSpinZone | Tuesday, 28 February 2017 at 03:13 PM
I also think, that strange and unacceptable things happened with this firm for a long time, for starters who would be so stupid as to employ this female young and naïve lawyer.
And Bernard with the good idea's.
Peter Gordon himself disappeared to do his own thing.
However again it proves that our institutions, staffed with all those lefty appointments are not doing their job, to protect the share-holders from all
this funny business!
Posted by: Liz of Vic | Tuesday, 28 February 2017 at 03:20 PM
There are some businesses that just have to wear what is loosely described as "sovereign risk" and that's the way it should be. If your business model is structured around returns based on government policy, you are asking for trouble. Governments reform policy, amend legislation all the time and that is their right for the overall benefit of their communities.
Slater & Gordon bought into the UK law business expecting to make much of its money out of personal injury compensation claims where the applicant is entitled to free legal representation, with the taxpayer picking up their legal expenses. The UK government has made some reforms to personal injury compensation policy over the last two years which affect solicitors. It is about to introduce another change shortly and the UK personal injury solicitors are up in arms.
This from a January 2017 article in Lawyer Monthly, a UK online periodical -
....."There are a number of common misconceptions among the general public when it comes to personal injury law. The most prevalent tends to be the idea that many – if not most – claimants are fraudulently exaggerating their injuries, to maximise insurance pay-outs following a road accident or workplace injury.
To tackle this perceived problem, the Government plans to reform the way claims are dealt with. This would mean that anyone with a claim worth less than £5,000 would be denied the opportunity to bring a claim to a regular court. Instead, they would have to bring a ‘small claim’ and, in doing so, would have to pay their own legal costs or face being unrepresented.
To give an idea of the impact of these changes, 95% of the claims currently going through court would be affected – losing a right to no win, no fee representation...."
This will impact hard on S&G's UK division's bottom line.
The NSW government is also about to introduce reforms to personal injury compensation claims under its Green Slips to stop the frauds and to reduce the legal costs associated with soft tissue claims which represent the majority of the claims. You will not need legal representation for soft tissue claims. "There will be an ongoing role for lawyers in the CTP scheme, but it will focus on more seriously injured people obtaining benefits under common law and significant disputes in relation to defined benefits, the details of which are being finalised. A new Claims Support & Advocacy Service will assist injured people to make claims and advise them on how to resolve any disputes."
Slater & Gordon will not be able to resurrect itself out of this mess. The taxpayers won't be paying for their services in the UK and NSW. Where will they get their income to pay their debt to the bankers and their overheads??? They are GONE. Greed is not good.
Posted by: seeker of truth | Tuesday, 28 February 2017 at 04:24 PM
How much for the "Julia Gillard Meeting Room" plaque? I have a spot picked out for it already.
Posted by: underminder | Tuesday, 28 February 2017 at 04:32 PM
Do they have any of those special "Self-Witnessing Mortgage Documents" or the Self-Witnessing Special Power of Attorney Documents" on special"
How about the Tardis that allows S. & G. Partners to be in Melbourne AND in Perth, Western Australia at the same time? Would I be able to get them on the redemption of ONE 10 cent S. & G. share, or would I have to cough up a whole 20 cents worth?
I'd still like to buy the famous sign on their smallest Conference Room - the "Professor, Doctor Juliar Gillard O.A.; D.C.M. (Order of the ARSE; Don't Come Monday) Conference Room" with its' flushable porcelain throne. I reckon that would be an undying source of inspiration if hung on the inside door of my similar one-seat Conference Room at home.
Posted by: Up The Workers! | Tuesday, 28 February 2017 at 05:04 PM
The flippant suggestion that the Liberal Party buy up the junk SLAG shares and sell off the furniture to recoup their outlay,and get at the files. Prompted me to remind Crew members the Liberal Party is in lock step with labor when it comes to the obvious cover up!
We are being told Liberal MPs are preparing for life on the opporsition benches. The conceited bastards just can't see themselves being kicked right of politics and into the real world. Perhaps the next few elections will result in the two parties not much preferred being broken abart by determined voters exercising their votes to good effect. Numbering every box below the line and putting the encumbent politicians last on every ballot paper. If we the people's do not take this action we are doomed to Labor and Liberal taking turns to piss on our backs and tell us it's raining! Edward James
Posted by: So many exposed shonks and cheats are still free and many are still in politics ! | Tuesday, 28 February 2017 at 05:40 PM
I believe they were doing pretty well, and then they hired Julia Gillard.
Posted by: toorightmate | Tuesday, 28 February 2017 at 05:55 PM
Liz, I have yet to meet a Leftie who would do anything for shareholders.
Posted by: toorightmate | Tuesday, 28 February 2017 at 05:57 PM
Nine network are still running
commercials for S & G !!
How does that work?
Posted by: Kel | Tuesday, 28 February 2017 at 06:30 PM
She slayed, and then got the order of the boot, and then went on to PM. Bloody unreal.
Posted by: Truth_Will_Out | Tuesday, 28 February 2017 at 06:37 PM
Is that on the seat or actually in the bowl? Would make a good aiming target.
Posted by: Newbposter | Tuesday, 28 February 2017 at 07:42 PM
Does it make me a bad person that I felt joy at the thought of slater and gordon going belly up?
Maybe if they go down they will help drag other people down with them?
Posted by: Newbposter | Tuesday, 28 February 2017 at 07:44 PM
Files? What files? There are no files
Who keeps files?
Posted by: Doubtful John | Tuesday, 28 February 2017 at 07:50 PM
Hmmm... manipulate things so that the shares reach rock bottom, buy them all and then suddenly find lots of first class leftist contracts etc.... hmmm.
Posted by: Mycroft | Tuesday, 28 February 2017 at 07:55 PM
Report from the HeraldSun:
VICTORIA’S top barristers have been warned not to do business with Slater and Gordon unless paid beforehand amid concerns about the embattled law firm’s rising debt.
List A Barristers, which represents almost 80 commercial barristers, sent a memo to its members on Tuesday “strongly” recommending work requested by Slater and Gordon “only be undertaken once we hold funds”.
In the email, seen by the Herald Sun, List A Barristers senior clerk and executive director David Andrews tells its members: “I strongly recommend that if you have any unbilled work you have undertaken on instructions from Slater and Gordon, you prepare and send an account forthwith.
“I recommend even more strongly that any new work offered to you by Slater and Gordon or ongoing work requested by the firm only be undertaken once we hold funds in OUR trust account.
“It is far preferable that we hold trust monies rather than the firm doing so.”
The warning comes as Slater and Gordon faces increasing financial pressure and is at the mercy of its lenders, with their share price yesterday plunging 22 per cent to just 9.8 cents.
The company revealed earlier this week, in releasing its financials for the six months to December 31, its debts exceed its total assets by $126 million.
Its cash flow is also $11.4 million in the negative.
Posted by: Jeff of FNQ | Tuesday, 28 February 2017 at 08:22 PM
Indeed Edward James, they still don't get it that for them to end up in opposition, some of them will HAVE to lose there seats.
Posted by: Beam Me Up | Tuesday, 28 February 2017 at 08:34 PM
There is another word for "negative cash flow".
Posted by: toorightmate | Wednesday, 01 March 2017 at 12:32 AM
There is good reason for all Australian voters to exercise every vote by numbering every box below the line. Thereby directing their own preferences. Right now we are hearing about Liberal encumbents preparing for some time on the opporsition benches. They are incapable of understanding, when their disenfranchised constituents resolve to put their name in the last box on the ballot paper. And the name of the candidate they prefer in box one. They won't be the local MP any more they will be out of Parliament and not relaxing on opporsition benches.
Do not be conned by the two parties not much preferred. They exchange preferences behind closed doors to make sure the bicarmel system remains even though governments may change. We are able to remove dead wood MPs . We can have new untainted political blood in our parliaments. More importantly we can dismantal the two parties not much preferred. And also remove them from the trough. By pulling them like the political weeds so many of them are. Consider those who sat for months considering changes to 18 C. They were paid extra taxpayers dollars and come up with absolutely nothing. We do not have to swing back and forth between Labor and Liberal. We can very quickly clean out the rats nests of systemic corruption by bleeding the dead wood dry! Edward James
Posted by: So many exposed shonks and cheats are still free and many are still in politics ! | Wednesday, 01 March 2017 at 07:58 AM
The long drawn out process has provided time for the rats to bail. Share holders have had years to do their due diligence. It's not as if no one is waving a red flag about SLAG. Edward James
Posted by: So many exposed shonks and cheats are still free and many are still in politics ! | Wednesday, 01 March 2017 at 08:00 AM
I expect all clients files would be protected. Knowing and being able to expose information in clients files. May be a legal hurdle. Edward James
Posted by: So many exposed shonks and cheats are still free and many are still in politics ! | Wednesday, 01 March 2017 at 08:03 AM
Insolvent. How do they still trade? Edward James
Posted by: So many exposed shonks and cheats are still free and many are still in politics ! | Wednesday, 01 March 2017 at 08:06 AM
Hi Michael. As at 10:30am AEST Wed 1 March, SGH now down another 26% on the day to 7.2c.
At this rate, by the end of the day you'll be able to purchase the company yourself.
Posted by: Rod W | Wednesday, 01 March 2017 at 11:40 AM
Any buyers for Slugger & Hardon, anyone?. A big NO!!.
Posted by: kurt | Wednesday, 01 March 2017 at 12:28 PM
Just goes to,show how crook things are when a shonk like Gillard can become PM of Australia! Edward James
Posted by: So many exposed shonks and cheats are still free and many are still in politics ! | Saturday, 04 March 2017 at 10:05 AM