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[sharechat] Customer contempt

From:	"John Ascroft" <jascroft@cardinal.co.nz>
Date:	Tue, 31 Oct 2000 10:25:06 +1300

I was just wondering how much account should be taken of the general perception of a company compared with its financials.

This was triggered by a report in The Press this morning that shows Westpac with the lowest satisfaction rating of all banks at 46%. Also, a quarter of their high value customers are considering switching. As a matter of interest, ASB was first in satisfaction.

So...

I have never wanted to buy shares in Westpac, because I have always thought that any company which is held in such low esteem by its own customers is probably a bad bet.

Other examples of the sort of company I would worry about would be Trans Alta (if you can't answer your phones, how can you run a company?), and Lyttleton Port (busy shooting themselves in every possible limb).

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