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Extraordinary Items – FD too late to save Powerscreen.

It seems to have hit the mark among a number of readers. One FD said that he had sent copies of the articles to several of his divisional FCs. “That story was absolutely right,” he told us. “We do sometimes put too much pressure on people to perform.” He added: “The cover was absolutely frightening!” You may recall the dark, sinister photograph and ominous headline, “This manager has committed a £12m fraud – and he hasn’t even stolen a penny”. Sadly, it was published too late to save Powerscreen International, which has just had to report some £47m in “mispricing and accounting irregularities” at its Matbro subsidiary and the resignation of Matbro’s sales and marketing director.

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