By Janine Perrett

My column today is a reminder to embryo journalists reporting on finance and business, with no corporate memory, of how to put a story in context.

Or just a reminder for anyone who can't remember stories dating back last year or even last month, how to put things in context.

Some headlines in question:

"Seven Network senior manager accused of fraud". 

That would be on top of this week's allegations about senior managers at Target, last week's allegations about banks, well actually any week's allegations about financial companies.

Not to mention the whole Queensland Nickel scandal.

Oh yes, let's do mention it.

Headline today reads "Government to launch Skase-style chase for Palmer assets".

Kiddies, this is a reference to a previous colorful corporate crook called Christopher Skase, who captured the media's attention back in the 80's; well he actually captured the actual media having owned the aforementioned Seven Network at one stage.

Mr Skase's empire collapsed owing billions of dollars and he escaped to a life of luxury on the Spanish island of Majorca where he was pursued by...well as I recall NOT so much the authorities, but by constant media crews.

Still any attempt to chase Palmer’s assets (as opposed to Palma the capital of Majorca), to pay his poor workers and creditors rather than have the taxpayers foot the bill is an excellent idea.

Though I'm not sure how much a used dinosaur will fetch on the open market.

Even less sure the corporate watch puppy ASIC is up to the chase given clever Clive never even made their radar until someone else did the job of uncovering his misconduct. 

But that is the normal pattern for ASIC.

Which brings me to the depressing headlines this week "Medcraft likely to stay head of ASIC".

Have we completely forgotten the whole Senate inquiry into banking which condemned ASIC's handling of all these problems which mostly happened while Mr Medcraft was chief.

Anyway a final one for those whose memory goes back last century.

In the AFR today - "Solomon Lew's recipe for retail stardom".

After overcoming a bout of nausea from the obsequiousness of the headline, I read that the so-called recipe is to "walk the floor" of your retail outlets.

Gosh, isn't that smart?

Except it is hardly an innovation of Solly Lew. I seem to recall doing a story back in the early nineties about one Roger Corbett, then star of Woolworth's Big W, who we filmed walking around his stores. Even getting a bus drivers license to drive employees around. 

I don't think even he had the chutzpah to claim he invented the concept, which on Wall Street was called "management by walking around".

Still nothing new in management or journalism after a while is there now?

Oh and if you want to put this one in context, then use google search and the words "yannon" and "solomon lew" and you'll get some real corporate history.