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What caused a semi-retired, unconvinced kindergarten teacher on a weekend bowling trip to trash a Briscoes store?
Ian Swney, 62, of Morrinsville, was enjoying a leisurely bike ride through Hastings on Oct. 10 when he decided to take misplaced action.
He had come from Morrinsville with a friend who was playing in a bowling tournament on the weekend.
While his friend was bowling, he rented a bike from Napier and traveled to Hastings in the midday heat.
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“It was a great trip, the wind at my back, flying. I felt like a million dollars. “
But seeing the Briscoes store it just broke.
MARTY SHARPE / Things
Ian Swney of Morrinsville outside Hastings District Court.
He parked his bike, bought two cans of spray paint (green and red – “I wanted to make it pretty”) from a nearby store, then walked to the Briscoes store and proceeded to paint a slogan along its wall, like passersby and motorists searched in.
He wrote “Wage subsidy, no shareholder dividend. Return it”.
“There was a lot of interest. Some people got lost, but others gave me the go ahead and made me happy, ”he said. Stuff on Friday
What prompted you to do this?
The day before, he had read that several companies, including Briscoes, that had claimed the Covid-19 wage subsidies had gone on to pay dividends to shareholders.
“I disagree with any business that can afford it, accepting taxpayer money and then paying dividends. I think that’s … ”he said.
SUPPLIED
Ian Swney graffiti at the Briscoes store in Hastings.
He was furious that Briscoe Group received a wage subsidy of $ 11.5 million before reporting an after-tax profit of $ 28 million for the six months through July 30, compared to $ 28.4 million during the first six months. from the previous year, a mere 1.3 percent. percent decrease.
He continued to pay an interim dividend of $ 20.3 million, or 9 cents a share, and managing director Rod Duke made $ 15.6 million, thanks to his 78% ownership of the company.
MARTY SHARPE / Things
The Briscoes store in Hastings.
A security guard caught Swney’s bike (“my getaway, so I got stuck there”).
The police arrived, took his details, and let him return to his B&B.
He was later charged with intentional damage. He drove from Morrinsville again to appear in Hastings District Court on Friday, where he indicated he would plead guilty. He will be called again in Hamilton District Court next month.
Shortly after Swney’s appearance in court, Briscoe Group announced that it would return the wage subsidy.
Duke said Stuff did not want to comment on Swney’s stock, but wanted it to be noted that the company “never said we are not paying it [the wage subsidy] back”.
SUPPLIED
Rod Duke, the head of the Briscoe Group, declined to comment on Swney’s actions.
He said the board had been considering the matter for some time, including the factor of whether the crisis was over and whether another Level 4 Closure was likely.
“We think we have broken our backs and we are not likely to go back to that, and it was time to make the decision we have,” he said.
Duke said it should also be noted that the company’s dividend that was due to be paid to shareholders at the end of March was canceled when the level 4 lock went into effect.
“That was $ 28 million canceled, missing, the moment they put us in jail. All shareholders missed that dividend, ”he said.
Swney said he was satisfied with the company’s decision and intended to send Duke a letter thanking him for doing the right thing.
