His premiership was characterised by very close associations with businessmen such as Laurie Connell and Alan Bond and arranging joint government and business deals. As a result of the 1987 stock market crash, major corporate collapses including that of Connell's merchant bank Rothwells unwound some of those deals which, in turn, caused major losses to the state. The corporate deals and the attempted government-sponsored rescue of Rothwells under subsequent premier Peter Dowding were widely styled in media and civil society as "WA Inc".