There are
some criticisms of Australia's health system, but generally we are all impressed with
the level of professional care we receive as individuals. And while analogies
are fraught with danger it is irresistible to draw a comparison with our QVM
which has had its fair share of illness over recent years. In the market's case
it is a condition known as "retail trade downturn with elements of
GFC-itis".
When you
enter a doctors surgery you are embraced by a very professional system designed
to measure and react to your health. The doctor asks you questions, takes your
temperature, measures your blood pressure, makes a diagnosis, prescribes
treatment, and then sets an ongoing process to make sure your condition is
managed. You can see where I am heading here. What has happened at QVM in the
past? A comprehensive management team ran the market and collected rents.
Problems were identified, action was taken and boxes were ticked. Reports were
made to the Board or Council and everybody was happy. But - hang on! Nobody has
checked the temperature of the patient, taken their blood pressure, or set a
treatment program . Nobody has measured the real health of the market - its
retail sales performance. And the illness that started probably 15 years ago,
and suffered a major setback with "GFC-itis", has severely impacted
on our market.
I
mentioned in the first paragraph that analogies are fraught with dangers,
including the fact that you can make a point very quickly without necessarily
adopting rigorous analysis. Through analogy it is easy for us to take a shot,
and in fairness the health of our market has not escaped the attention of the QVM Board or the CoM . However, we now need to set up a system that monitors retail health professionally. Investigating ways of measuring our market's performance is not
easy and it will probably include a level of disclosure that traders have not
embraced up to date. Nevertheless it is a problem that everybody needs to embrace including traders, management, Board and CoM.
Measuring
the true performance of our market, is essential if we are to survive
"GFC- itis", set a recovery program, gain good health, and avoid a
relapse.
Have Your Say - click here.
COMMENTS:
02/09/2013 14:34:11 Article-Doctor at QVM "What a scary thought for the market to be analysed in regards of financial performance, etc. I am afraid the market has suffered a heart attack and has flat-lined. Not sure it can be revived at this time. It definitely needs a "NEW HEART" requiring open-heart surgery."
02/09/2013 14:34:11 Article-Doctor at QVM "What a scary thought for the market to be analysed in regards of financial performance, etc. I am afraid the market has suffered a heart attack and has flat-lined. Not sure it can be revived at this time. It definitely needs a "NEW HEART" requiring open-heart surgery."