Sunday 1 September 2013

Why We Need a Doctor At QVM

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.

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."