Treasury Wine Estate AGM was yesterday, and I gathered my party posse and attended, as per usual, to freeload on the catering provided immediately after the AGM closed.
As in previous years, I am reporting on that catering. Two years ago, I would have rated everything 10 out of 10, given we had two hours of fine finger foods and access to many fine wines, leading with Penfolds Bin 28.
Last year, not so good (4 out of 10), but I still made the most of the hour of fine wine which was available, and of the lamingtons which were the dessert.
This year, even more disappointing, probably reflecting on the collapse in the share price and the suspension of dividend payments. There was no Bin 28, although I discovered eventually during the meagre hour of festivities that Bin 311 (a white wine in the same price point) was available and I made sure I got me some of that. I also got a good few sausage rolls (one of my many weaknesses) from the buffet. But I scored yesterday 3 out of 10.
Afterwards, my friends and I headed down the street to the Kelvin Club and had lunch there, with a couple of bottles of shiraz.
Reflecting on it when I got home, it occurred to me that myself and the other Treasury Shareholders are a bit like a Cargo Cult: we attend the AGM each year because we are retired and have the spare time to try and freeload a bit off the company in which we are minor investors. We take it for granted that Treasury Wine is always going to give us decent catering, because they always have, going back to the old Fosters Group days.
