Shame on Wynyard Group

Posted by Douglas Wood
Wynyard Group, a New Zealand based provider of “crime fighting technology” has hit a new low. No, not in stock price or profitability… those are pretty low already.
Instead the company, who seemingly issues a press release every time someone buys new toilet paper, has sought to capitalize on the horrific events this past week in Paris. A new low indeed.
Undoubtedly sought out by Wynyard Group’s PR team, the New Zealand Herald published an article today featuring the company’s CEO Craig Richardson referencing the Paris attacks and touting how his company ‘expected’ to increase revenues by 50% due to rising demand. (This is the same company, remember, who ten weeks ago announced wider than expected losses.)
Note to Wynyard Group: The bodies in Paris aren’t yet cold. Using this as a publicity and marketing tool is despicable. Disgustingly despicable.
Anyone who can analyze a simple financial statement knows that Wynyard Group is burning cash. Still, as a publicly traded entity whose mission ought to be to deliver stakeholder value, does the company not have a requirement for common decency?  Apparently not. Using the mass slaughter of hundreds of innocent people for the purpose of yet another news article reeks of desperation, and it ought to sicken anyone associated with that company.
In the unlikely case that the New Zealand Herald reached out without prodding from Wynyard Group, the answer from any C-Level executive anywhere ought to have been “The attacks in Paris are heartbreaking, and our hearts go out to the victims and their families’… not “We expect to sell more stuff.”
At this point, Mr. Richardson, you can pretty much drop the mic and walk off stage. There’s really nothing you can do that will be more classless. At least I’d like to think that’s the case.
Wynyard Group shares were down over 1.5% today.

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