Disgraceful Genworth pisses away capital

Monday, 2 November 2015

This was out Friday, from The Australian:

Mortgage insurer Genworth’s year-to-date earnings have slumped, as it launches a $150 million share buyback amid strong headwinds.

…The recent surprise exit of chief executive Ellen Comerford, 18 months after the company’s stock exchange debut, had set off alarm bells, and followed a slide in the company’s share price.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.