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EYE-BALL Guru on – The ANZ axes 1000 jobs – Bank jobs being tossed overboard…

February 15, 2012 Comments off
The-EYE-BALL-Guru -Header-2
Title:
The ANZ axes 1000 jobs -
Bank jobs being tossed overboard…
The ANZ announcement to cut 1000 jobs will save it $40 million – yet the Bank’s CEO earns in excess of $10 million – that equates to the cost of 250 staff who are about to lose their jobs.This issue of Bank profitability – and Bank Executive remuneration is at the front of why the GFC has taken the World to the brink.   Bank executives hold up – ‘shareholder returns’ and – ‘return on capital’ – or ‘funding margins’ – and ‘margin on assets’ – all mis-direction and targeted at complexity and confusion to distract media hounds on the prowl for a good story.

This is not rocket science – comparing Bank returns internationally and in past decades requires some time consuming investigative background work – something modern day journalists are reluctant to do.

It’s a simplistic calculation – 20 years ago this Nation faced interest rates of 17-20% for housing loans – and the Banks were making 1% margins – in a present interest rate environment of 5-10% Banks are still earning 1% margins.

Comparing like with like – their margins should have reduced to .5% levels but to the dismay – nobody understands the cost of goods argument when applied to Banks and their base cost of funds.

For Banks to still make their 1% margins – the Banks have increased ‘fees’ and ‘non funding’ loan costs to boost their profitability.  The ANZ is currently facing a ‘class-action’ over its high fee structures relative to the cost to provide their fee structure services.   Where have the ACCC and ASIC been on the collusive nature of Bank announcements about interest rate rises and falls?

The unspoken debate in Bank profitability is how Executive remunerations are connected to the Banks performance – when ANZ cuts 1000 jobs and saves $40 million – how much of that goes to the Executive Branch’s end of year bonus payments?

In a stagnant credit market – soon to be delivered massive write downs on non performing debt – the Banks only way of maintaining the gravy ride for those conditioned to receiving $millions in remunerations and bonus’ – is to reduce costs – and that means job losses and a reduction in customer service … and we all know how those bank queues during lunch breaks have you spending your time waiting for your Bank to provide you with a simple bank transaction …

Jobs lost announcements in the Banks this year alone number in the thousands – yet Bank profitability has returned to pre 2008 levels.  The CBA announced a half-year profit today of $3.62 billion – yet they are also cutting jobs.   There is no forgiveness or compassion in business today – every minute and personal time has to be accounted for – the stress levels in the workforce over job security are rising again – and productivity will suffer.

Why would the ANZ Bank CEO think his $10+ million pay packet is deserved when it comes with the loss of 250 jobs at the low rung of the pay scale?

Gillard and Swan’s responses to the Banks actions is not that of a Government who boasts – ‘Jobs, Jobs, Jobs’ as its call to arms.

They pay lip service to the Bank’s decisions on retrenchments knowing that they need the Banks more than they need this Government.  Yet – in 2008-11 – the Banks were the beneficiaries of Federal Government guarantees to allay the public panic that was gripping the world when the GFC hit hard …

Bank’s are a hated species – they control our lives beyond reason – they entrap youth into credit card debts they carry for decades trying to get themselves out of – they enticed you into fully funded home loans leading up to the GFC – and because you lost you job or the property value fell – they now have complete control over all your life as you try to sell your home or have your interest cost added to principle to swallow up everything – they have no moral objection in using your cash flow to offset a dead asset – they own it and having you bust your ass trying to keep your home is a better outcome than them foreclosing and having to take a hit as a bad-debt and capital write-off.

Banker’s are worse than Real Estate salesman, even Lawyers rank above them as enticed friends …

What can anyone do with $10 million in a year – how many boats, cars, houses, holidays, and the like can a person do in a year?

The taxman loves them and that is a reason why they escape any real scrutiny – but the packaging of their pay often renders their tax rates at lower than the clerks who are being retrenched … it’s time to crunch a few Bank executives and put the Banks back in their place.

Bank profitability has to be made accountable and in line with economic hardship and good times.  Just as this Government seeks to tax the resources sector $40 billion -  at a time when the A$ value has reduced their revenues by 30-40% – it’s a yardstick set to crush the resource industry.

Banks divorcing themselves from RBA interest rate moves was a marriage they walked themselves into because it allowed them to target profitability and connect it with the Government’s economic policies and the RBA’s decisions on interest rates.

Now that it does not suit them – Bank’s want the divorce without paying a cent in settlement having benefited from the relationship to the tune of $billions …

Since the CBA was uncoupled as a Government owned asset – the Banking sector has run riot – it’s time to adjust the regulatory controls and rein in the Banks and once again make them responsible to their customers ahead of their bonus linked shareholder returns.

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To have your say where it counts:  – contact your Local Federal Representative and have your say  on this matter – please use the links below to find your Local Member and let them know how you feel about this – of you can just post a comment below and let off some steam.

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The EYE-BALL Guru …

EYE-BALL Opinion on – Title: The Government’s “Closing the GAP” report into “Indigenous Wellbeing” …

The-EYE-BALL-Opinion-Header-2
Title:
The Government’s “Closing the GAP” report -
into “Indigenous Wellbeing” …
Julia GILLARD delivered her Government’s ‘Closing the Gap’report on indigenous wellbeing and integration to the Parliament this morning – and in listening to her tone and deliverance – many many thoughts rushed forth -

  • … is this the same person who stabbed Kevin RUDD in the back -
  • … is she the same person who can tell a straight face lie one day and bring on tears and emotive narrative to raise the hairs on listeners necks -
  • … who is this woman serving as our Prime Minister – is she drawing from bi-polar type experiences of depressive episodes and extremes of political highs to change her persona to suit the circumstances -

The woman in Julia Gillard shone through with this speech – the Parliamentary chamber listened in silence – you could hear a penny drop – no interjections – an odd throat clearance – is was amazing – and when the Opposition Leader rose to respond – he was first to congratulate the PM on her speech.

The comparisons with the ‘Question Time’ rowdiness and so called ‘robust’ debate congers up the whole concept of televised ‘Question Time’ being the ‘soap’ viewing allowing Politicians who are normally never near the media cameras to get their time in the spotlight.

One day both sides are clawing and scratching and presenting to the Australian public the childlike behaviour that the House descends into – and then the next day – it appears that all is forgiven and everybody is talking in glowing terms about one another across the aisle …

Does this confuse you? Is the subject of Indigenous wellbeing such a ‘no-go’ topic that neither side wants to thrown a ‘barb’ that might – or could be interpreted negatively and backfire?

Emotive Politics is on show everywhere when it comes to private and personal discussions – the rules of backyard barbeques and gatherings is to stay away from politics and religion as debate topics – yet these two issues are the most emotive of subjects and should be discussed openly.  It is only through experience in how discussions on these subjects turn out that they are taboo subjects.

The House is where politics is the only subject – what the public see during Question Time can only make us all think negatively of our Representatives – should it be their role to improve their image – or should we just accept that what happens in televised Question Time is a reflection of backyard arguments when politics is discussed.

Why is politics the emotive sponsor to heated discussion?  How many of us truly understand the Parliamentary process and the Party line politics that has replaced true democracy?

The INDIGENOUS issue is 200+ years in the making – the reluctance of Howard to say ‘sorry’ resonated with many in the electorate – but the proof and reality is that European expansion across the globe treated indigenous populations in ways that could never be tolerated in the western world today.  Why was it so hard for Howard to say ‘sorry’ – we all saw the RUDD apology and his political ratings soared as a result -

What we saw in the parliament today was a tone of conciliation – not confrontation – was this a true reflection of how each party really feels or was it just politics being played out to manage profile and media attention?

Since Keating sponsored the ‘MABO’ legislation – indigenous affairs have played a greater part in the political agenda.   Yet – indigenous representation in the House or Senate is miniscule – to get elected to Federal Parliament requires mammoth funding and alliance with a National Party mechanism – Independents have been born from Party membership defections – the current exception being Andrew Wilkie – but the Party political demand that Members vote the Party line above the Members own conscious and the wishes of their electorate is destroying our form of Government and Democracy.

Should Independents have the responsibility for the balance of power?  Their vote count is hardly representative in the total vote tally.   This minority Government claims to be working successfully – but without Craig Thompson sitting on the backbenchers of the Government all last year – how much legislative process would have been achieved?

Having a Member with the overhang of criminal charges being laid – and the oversight that the delay in the investigations was interfered with by the PM’s office to allow her to maintain the numbers to form Government – brings the political process of this Government into question.

Identifying the Julia Gillard who spoke to the House this morning with all that is known of her role in the RUDD dismissal and her deeds to hold onto the PM job is impossible.  She is portraying multiple type persona’s and which is the real Julia Gillard?

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To have your say where it counts:  – contact your Local Federal Representative and have your say  – please use the links below to find your Local Member and let them know how you feel about this – of you can just post a comment below and let off some steam.

Link to Previous EYE-BALL Posts.

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The EYE-BALL Opinion …

EYE-BALL’s Harry’s Growl – Duchess GILLARD – R.I.P.

February 15, 2012 Comments off
The-EYE-BALL-Harry's Growl-Header-2
Title:
Harry’s Growl on – Duchess GILLARD – R.I.P.
The latest Larry Pickering cartoon of our troubled Prime Minister does for one’s libido – as likened to similar images of the Iron Lady – Maggie Thatcher in her primealthough Meryl Streep was an improvement from what memories I had of the old battle-axe …Larry Pickering’s Facebook page can be viewed using this link -

Mr Pickering’s on-line cartoon collection is very good and the image spoken of above is displayed via linked copy below:  [apologies to all who are offended on many levels - please - in reflection appreciate your wife - mistress - friend with benefits - whoever - but please say a prayer for Tim tonight as he swallows whatever to prevent the nightmares a cometh as the partner of Lady Godiva in RED.]

The MEDIA have the scent –

The media are hunting – and the chase is on – Mr Pickering made a very good observation out of the ’4 Corners’ program that the media have yet to focus on – his comments from his Facebook page are copied below:

YOU DON’T NEED BALLS TO PLAY DIRTY IN CANBERRA:

So, Julia’s staff started writing her “victory” speech two weeks prior to the coup. So what!

It was obvious that Arbib, Shorten, leading union heads and Richo were plotting two weeks prior so, of course Julia was appraised of that, if not intricately involved in it. To suggest otherwise is a nonsense.

Therefore, this is just another predictable Gillard lie. Big deal!

By far the biggest and most damaging report to come out of the 4 Corners program has not been canvassed at all by the media. Not yet.

It was reported that a focus poll was taken by Gillard supporters using only people who were, in their words, “negative to Rudd”. These concocted poll figures were circulated in the Caucus and hidden from Rudd. This false “poll” showed Rudd was now unelectable.

This “poll” was taken two weeks prior to the leadership vote.

Now, if this report is true (and events suggest it is) then it is the most treacherous piece of intra-Party chicanery ever committed.

Caucus Members’ fear that their seats were seriously at risk was capitalised on. They were fed false information in order to get them to vote against Rudd and for Gillard.

Oakeshott and Windsor must surely now have second thoughts.

But the thoughts of those Caucus members, who were so deviously misled, could well turn to mutiny.

To replace Gillard with Rudd now will mean an election. But a right-minded backbencher might say, “I’m stuffed anyway, so I may as well settle a few scores on the way out!”

Rudd must now be aware of this low act, but he was not then because, after pounding the phone all that night, he felt certain he still had the numbers when he went into the Party Room the next morning. But the leadership ballot had already been decided… two weeks prior.

Had he been allowed to view that false “poll” he would have known he was in serious trouble.

But he had been denied the decent right to muster his numbers by an indecent Gillard.

He is right – the more serious mischief here is the mis-information put about to the Labour members to motivate them to vote against RUDD – this aspect of the story is more harmful to the usurpers than the timing of when Gillard became involved.  This story will gather momentum and the ‘Duchess’ will find her dimpled ‘ass’ sliding towards the Mark Latham graveyard.

What Next for Gillard:

To see how the Labour Party manages another crisis – focus will be on the Party heavyweights – forget Arbib and Shorten – they’re just snotty little trouble makers – they’re already in ALP hardliners handcuffs – look to the mannerisms and body language of Crean, Swan, Faulkner – Ferguson maybe – but if it is not RUDD then who?

A friend told me yesterday that he thought this was developing to a similar crisis that involved ‘Jack Lang’ in the early 1930′s.   Given the humiliation of the ALP during the NSW State Elections 12 months ago – and the imminent repeat at the QLD polls in a few weeks – is it too early to say that the ALP brand is in the crapper?

Gillard may have been the first female Prime Minister – but her foot in that door was achieved through disloyalty and personal ambitions – she over-reached on a major scale – she has misread the public response to the RUDD assassination – and the electorate will not forget.   She is done in politics and the longer she trys to hold onto her ego’s want – the more damage the ALP will suffer.

Who next for the PM role:

When – not if – Gillard goes – the ALP will have to call an early election – to try and slug it out for another 12 months or so would have a crisis of confidence – this would be a good thing for the A$ – investors would desert in droves – amazing how something good could come from something born of evil deeds …

There is nobody on the ALP frontbench who would want the PM role if they wanted to survive in politics – it would be a poison chalice -

Winsor and Oakeshott and the other Independents would fear an early election given the hyperbole over the their support for Gillard – their judgement of Gillard’s character and her role in the RUDD dismissal would be a negative on their re-election chances.

And then there is ‘Phony Tony’ – ever on the hustings trying to make himself look bigger – Malcolm Turnbull might just be forced to go early as well – if the Coalition don’t win this next election – Australia’s creditability with the world is gone … they will look and ask – why still Labour after all that has happened – and knowing what Labour are capable of – any presumption that Labour Government is GOOD Government will have Australia’s standing on the World stage sink faster than Gillard’s, Shorten’s, Arbib’, Howes’ forced walk over the edge of the pirates plank …

The shark’s awaiting below will feast a plenty – the bloodletting within the ALP over the RUDD dismissal will be on full public display – all the ‘behind’ closed doors ‘skullduggery’ will suddenly be done in public view – Con Sacca with his ’4 Corners’ contribution has made the ‘first cut’ – so did ‘Richo’ but he is just the spoiler these days -

BRING BACK KEATING – will be a cry heard from afar – why not Hawke, Whitlam – ALP members and supporters will be seen crying in the street – and as Lady Godiva rides by – the ‘horse-shit’ droppings as depicted in Mr Pickering’s cartoon above – will suddenly become flying missiles hoping to splatter the DUCHESS …

And deservedly so …

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To have your say where it counts: – use the links below to contact your Local Federal Representative and have your say …

  • - tell them what you think about Politicians receiving the recent pay rises …
  • - tell them if you believe that Gillard deserves her Prime Minister position …
  • - tell them if you think that Labour Party Factions are killing the ALP …
  • - tell them anything you want and demand they respond …

Please Note – be courteous in your remarks – be strong and positive – in this reporters experience attacking them right off the bat only gets your message sent to the junk file folder … and then your message will never be read by the Member …

Please use the Federal Member links below to find your Local Member and let them know how you feel about these matters and any other matter that you think worth mentioning – or if you want you can just post a comment below and let off some steam.

Link to most recent Harry’s Growl Posts.

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Harry’s Growl …

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