A query: Why is the chief executive of a publicly traded company better compensated than the lowly janitor? The answer: The former builds while the latter merely polishes.
I am beginning today’s editorial by reaffirming one of the key tenets of the market, as it seems some of our fellow traders, present company excluded of course, have forgotten that a captain, of industry or otherwise, is afforded more freedom and luxury than an enlisted man.
So why then is Zenabis (ZENA.T) stock in sudden free-fall while Rick Brar, the company’s former CEO, is only following the overriding principle of the market: the pursuit of one’s own enrichment?
It is important, dear reader, to be perfectly frank as to my slant. Brar has done nothing wrong and the regulations our government has deigned to enforce on job creators such as Brar are a farce.
It was the founders who drew up the business plans, it was the founders who took on the risk, and yet when an executive like Brar seeks to finally reap the fruits of his labour, all of Bay street shouts that an ‘insider’ is moving to sell and the stock price plummets.
This is akin to larceny, no different from the highwayman who pilfers the pockets of travelers on the barren roadway. At least the robber can take only what his victims have on their person! Whereas the culmination of Brar’s efforts halves in value the moment he seeks to profit.
If you can do so without revulsion, read what some of the low-born proto-bolsheviks of the Canadian markets have to say on the matter:
- “Un-fucking-believable. $ZENA insider dumping over 500,000 shares at all-time-low AGAIN.”
- “At least it is only one insider… not confidence inspiring but if it was multiple insiders it would be catastrophic…. as it is this is just bad.”
- “Let’s hope Ricky has family money issues or a drug problem, and the companys not going to shit”
The spelling errors and grammatical missteps have been left undisturbed for clarity.
Now that isn’t to say Brar is without fault. If a man can profit while leaving the value of a company undisturbed, why not? Philanthropy calms the nerves, enriches the soul and is even enjoyable from time to time. And why shouldn’t the common folk be allowed to make their daily bread now and again?
I ask you, dear reader, to try to imagine a world without shoe shiners and waiters. Am I to fetch my roast duck myself like some kind of Irishman?
But as someone who holds over 10% of his company’s stock, Brar should have been more diligent, partnering with a buyer instead of flushing his paper into the open market.
It’s just good business.
Cheerio.
–Mr. Millionaire
