I think we have our first nomination for Dickhead of the Year. This report from the ABC:

The Australian Shareholders Association (ASA) has moved to clarify comments that it does not approve of companies pledging money to the tsunami relief effort in Asia.

This morning on ABC Radio, association spokesman Stephen Matthews said firms should not generally give without expecting something in return.

Mr Matthews said that in most circumstances, donations should only be made in situations that are likely to benefit the company through greater market exposure.

He said corporate donations of any kind should not be made without the prior approval of shareholders.

The association's chief executive officer Stuart Wilson has since issued a statement clarifying the report.

He says "the ASA is not opposed to corporations making donations to assist the victims of the tsunami" and "it is in everyone's interest that the affected communities and economies recover as soon as possible.

"Obviously, as with individuals, it is a matter for corporations to determine the extent of the assistance that will be provided. As these donations are a distribution of shareholders' funds, the companies should publicly disclose the amount and recipients so shareholders are kept informed."

Earlier, Mr Matthews told ABC Radio that boards of directors do not have a mandate from their shareholders to spend money on donations.

"They have no way of possibly knowing whether or not their shareholders want their money, the shareholders' money, spent in this way," he said.

"It's an attempt to shift the cost to a particular sector of the community, that is the shareholders."

Mr Matthews said an exception would be those companies which could benefit from making donations.

"There is a role for business to make a contribution in relation to the tsunami, particularly those businesses who have activities up in south Asia and companies like Bluescope Steel come to mind," he said.

"Where their businesses are dependent on those sorts of markets, there could possibly be a benefit for shareholders in them making donations to relief."

(Source: ABC Online)

Listen to the audio of the report from this morning's ABC radio if this all sounds incredible.