Apologise if i'm missing something, but it is just ethically wrong that Qantas is not cancelling a dividend whilst being helped by taxpayers and is standing staff down quickly.
I know these are emotional times but this country wide pile on against Victoria needs to stop. Some Stare politicians should be hanging their heads in shame. The cheap shots are disgusting. What’s next cheering a death count ? Wake up we are 1 country not a rabble.
Can someone tell me why there are billionaires that took job keeper and made millions in dividends & I’m hearing stories of child care workers who are self isolating and being told to take the time off as annual leave ?
The system is broken.
So seriously what’s going on, we are spending 100’s of billions on Subs to protect us from the Chinese and at the same time selling the Chinese 100’s billions of dollars of iron ore and property ?
Strange times.
Quite a few so called experts hyperventilating over $ 30 billion being withdrawn from Super because of Covid. Same hyperventilators are no where to be seen when $ 30 billion disappears via fees on Super each year. Fees based upon a % of assets is a con & should be outlawed ASAP.
Haven’t exactly been a Central Bank fan especially when they were ultra loose etc, but constantly blaming the RBA for everything has to stop.
- the RBA didn’t let migration rip without a vision for housing,
- the RBA didn’t tell the two biggest States to go on a drunken debt…
Coming up tomorrow:
-Turnbull will say
how much he dislikes Morrison for the 1000th time
- Rudd will give his opinion on the Murdoch press for the 1000th time
- Keating will talk about himself for the 1000th time.
- Gillard will maintain her dignity & not take pot shots.
The Westpac Chairman is a fair dinkum ostrich if he thinks a waffle apology at 445 pm on a Friday & the appointment of some spurious independent expert is going to do it, it sums up the Business Club Of Australia perfectly. Both the CEO & Chairman should go.
China’s boomed for 20 years, iron ore has boomed for 15 years, what’s Western Australia got to show for it except for 4 fat multi billionaires ?
@MarkMcGowanMP
?
All you can do is grandstand on Covid.
All the best.
Gentle reminder to those throwing cans at the RBA for raising rate cash rate to 3.35%, The (US) Fed, The Bank Of Canada & The Bank Of England all have rates starting with a 4. Quite frankly the RBA could be (& possibly should be) higher than they are now.
Future Fund released it’s Annual Report today. Not trying to have a go but been in Financial Markets for 30 years and wouldn’t have a clue what the below means.
Love to have the Treasurer articulate it simply to all Australians.
How on earth has Australia become a society where massive money laundering at casino’s isn’t prosecuted to the full extent of the law & swept under the carpet by feel good inquiries.
People should be going to jail not sipping champagne in Board rooms.
It’s a joke.
6 out 10 of the news stories on ABC morning email are on Covid. Can’t it be kept at 1 or 2 ?
Not an expert but I doubt the continual blanket coverage everywhere is any good for anyone’s mental health.
Time for the RBA to be fully transparent & on the same footing as the Fed re public questioning & voting etc. The opaque arrogance has to end. If the RBA is going to provide selective briefing to the big end of town, transcripts of everything including Q&A should be public. Joke.
Could you imagine the drama / outcry here ? No other country in the world carry’s on the way we do & our official rates are a long way lower than the 🇺🇸 Fed, Bank Of England & Bank Of Canada.
Not sure if it is available, but
@JoshFrydenberg
& Treasury should be providing a fully transparent list of what ASX 300 companies & what large private companies are accessing job keeper.
Dear
@LendleaseGroup
directors,
Michael Ullmer
Steve McCann
Jane Hemstritch
Colin Carter
Nicola Wakefield-Evans
David Craig
Phil Coffey
Elizabeth Proust,
Baroness Ford
Robert Welanetz,
Please explain on what basis you are claiming JobKeeper?
#auspol
Seriously how much crap is corporate Australia going to get away with before meaningful action is taken:
- financial services Royal Commission
- aged care Royal Commission
- wage theft
- casino money laundering
- consulting treason etc
& now Qantas
No one goes to jail, all that…
Transurban EBITDA margins.
Doesn’t pay much tax either, & has a unique world leading financial engineering corporate structure.
Funny how it gets left out of price gouging dispatches.
Governments handing out trillions.
Debt going up by trillions.
Central banks buying trillions.
Asset prices going up by trillions.
Wages going nowhere.
Inequality out of control.
This rubbish has to stop.
So the main reason to go to negative rates is to drive down the dollar, fair dinkum has anyone in Australia got a vision. For years it’s been the same, population growth, prop housing and devalue the dollar. Never anything new just the same old same old.
Seriously horse racing is better regulated than the ASX. If some of the stocks that miraculously moved sharply higher today were horses they would be swabbed & the jockeys suspended.
Only in Australia could financial elite commentators justify a rate cut by saying more people have debt than money on deposit. In the old days kids were taught to save, today those left behind are encouraged to take million dollar (variable) mortgages just to keep up. Joke.
Never ever forget it was investigative journalism that led to the banking royal commission & the blow torch being applied to Crown it wasn’t the regulators.
Latest results:
Bunnings
EBIT margin = 12-13%.
Return on capital
= 66%
K Mart:
EBIT Margin
= 10%
Return on capital
59%
Draw your own conclusions about political grandstanding.
Multi multi millionaires and billionaires looting government subsidies, multi multi millionaires etc jumping on boats etc and breaking laws is not the Australia I know and grew up with, it is a national disgrace. It needs to stop. Sit back and do nothing it will only get worse.
Good morning.
Today Australia will sell 1000’s of tonnes of iron ore to China.
China will use that iron ore to make steel.
Some of that steel will be used to make a big aircraft carrier.
One day that aircraft carrier may stop at the Solomon Islands.
The end.
Long overdue but it’s time for the Chairman of Qantas to resign.
Get off the phone to Albo talking about feel good issues & who is playing in the Footy finals. Resign.
@TheKouk
@au_shareplicity
& today not many have a backyard to play cricket, it costs $ 25 in tolls to get to the cricket,
$ 20 to park at the cricket, then $200 for tickets & food 4 a family of 4 at the cricket & if you don’t go to the cricket you pay for it on Foxtel rather than watch it free on the ABC
Total and utter disgrace what is going on re accountability in Victoria. If the state was a bank or a company the left would be baying for blood different story when it’s a gang of their own.
Seriously why does every policy re housing in Australia focus on stimulating demand (& prices) ?
As for the RBA how they got off so lightly in that report is beyond me.
Why does Australia rely on consulting firms such as PwC and not on its own public servants?
(Treasury employs more than 800 people, what do they do ? Why aren’t they used more ?).
Run a small business in Victoria the government shuts you down overnight no questions asked, run a big casino business that facilitates money laundering the government turns a blind eye no questions asked.
Went to a Qantas AGM a while ago, sat next to a broker that followed the stock, formalities over he nudged me & said watch this, 3 big doors opened and the hard aroma of nice smelling food hit the audience.
At least half the crowd got up immediately & questions from the floor…
60 Minutes looks to be going after Megan Markle tonight, hasn’t got the guts to go after Prince Andrew ? Lot bigger story (assuming Megan is even a story). The dumbing down continues.
Involved in Fine Cotton get banned from racetracks for a decade.
4 jockeys break Covid restrictions they are banned from the Spring Carnival.
CEO/directors of a Casino that launders money ? ASIC does nothing.
Conclusion horse racing has stronger regulation.
All these economists & commentators running around belting into the RBA boss, just once I’d love one of them to explain how Victoria’s debt can ever be repaid.
Breach of fiduciary duties.
Iceland Sentences 26 Corrupt Bankers To 74 Years In Prison
Here ? Don't be stupid we will put psychologists in the boardroom and buy a new bigger boardroom table.
Imagine how different Australia would be if our Central Bank had shown some strength 5-7 years ago & not aggressively cut rates to historic lows and created a massive property bubble in Sydney & Melbourne that it’s now chasing its tail trying to save. 🤞.
For what it’s worth the RBA’s magic stunt today ($ 100 billion of extra QE) is equivalent to 25% more than value of Westpac & around 4x Australian mortgage lending for December. No idea how all this global monetary policy nonsense ends but pretty sure Central Banks don’t either.
Get lost.
How many more bailouts does the property sector need. Leave the genuine taxpayer alone. Want a bailout stick an extra tax on the developers, investment property owners or better still a super tax on the 40 odd property billionaires out there.
Why is the RBA commenting on climate change it’s not in their mandate, RBA show’s no care & takes no responsibility for house prices which they are having a direct impact on but yet they jump onto climate change (because it’s popular ?).
ANZ just dusted
$ 400 million on an i’ll timed piece of financial engineering (buy back) that’s roughly $ 10,000 per employee. Yep Australia does have a skill shortage it’s right at the top.
Happy to ask a stupid question but can someone tell why companies like Adairs and Nick Scali are getting government wage subsidies and then paying dividends when they are clearly not really suffering in the current environment if anything they are benefitting. Better way ?
Never ever forget it was investigative journalism that led to the banking royal commission & the blow torch being applied to Crown. It wasn’t the regulators.
How I invest my own money.
1 - Aim not 2 lose money
2- Understand investment & risks
3- Don’t speculate
4- Look 4 companies with hard assets, low debt that R reasonably priced
5-Look 4 skin in game
6- Avoid herds
7-Check sell decision 3x
8- Accept will get at 3 /10 calls wrong
Was good seeing Paul Keating on ABC last night. Was so lucky to be working when Australia had politicians that were strong and thought for themselves. Don’t agree with some of PKs views but at least u listen to it, it’s owned & it’s not 3rd party manufactured conflicted garbage.
“Alan it’s Richard here”
“Yes Richard”
“ Alan the Board is starting to get some bad press, how about you leave early ?”
“All good shares are sold I’m off”.
Happy to take the other side of this, ridiculously low manipulated rates for a decade+ by global central banks has materially widened generational inequality. In the old days people were taught to save not borrow aggressively due to FOMO.
History is relevant here. “Can we trust this government to run an effective and sustained economic stimulus when they’ve been trashing the very idea of economic stimulus for the last twelve years?”
Could you imagine the press coverage if 3 cricketers were found cheating let alone 1,000. Prime Ministers would be all over Twitter, Fund Managers would be pulling sponsor ships immediately etc.
Different world in money land, joke.
Does any other country in the world have the number of daily COVID updates like we do ?
The media coverage we do ?
Getting total out of hand & is no good for any ones mental health. Give it a break (even if it’s just a trial on weekends).
Sad part of the election is that corruption & (prolific) white collar crime inaction won’t rate a mention:
- Financial Royal Commission
- Casino Money Laundering
- Wage Theft
- Property / Local Councils approvals
- Share market insider trading
- Political pork barrelling
Etc
Seriously, forget the hypocrisy of what they say, has one State or Territory leader showed any compassion or offered support towards Victoria ?
Every one for themselves, it is totally and utterly disgusting let alone unAustralian.
Seriously, if Australia ever holds a World Cup in something as big as the Women’s World Cup cup again & a majority of games are not shown free to air or by the ABC there should be a full & public disclosure as to Y.
Free to air licences & the ABC are protected species that…
Having had the liquidity hose on full bore, watched property prices sky rocket in Sydney and Melbourne despite benign wages growth, missed the blow out in interest only lending, watched 4 previous bank CEO’s wander off with $ 200m + etc. RBA now lecturing on tighter credit 😂
All the devils are here.
RBA smashes interest rates
Property prices boom
Conflicted say it’s a supply issue stupid
Interest only balloons
Poor regulation
Loan size growth exceeds wage growth
Shoddy work carried out
Solution : let’s double down & go again.
Just keep in mind when u catch up with this afternoon at the Royal Commission that not one, stress not one Bank/AMP CEO or Company Director has appeared. That’s the saddest part, these Teflon fools are still floating around in rarefied air.
Welcome first home buyers.
All the best with the marriages.
Don’t forget to get advice bank of mum and dads (re structuring).
Well done RBA, looking forward to the 1000 pages of analysis over the next 18 months justifying this inequitable rubbish that u have inflamed.
Just been talking to the guy that hired me at Perpetual in the 1990’s about how things are different today vs then. Started off discussing the first line of today’s Sydney Airport release, taking on debt to (further) strengthen a balance sheet.
Old enough to remember that once an investor’s (part) protection in a bear market was
- fundamentals (valuation & business)
- management
- balance sheet
Today many believe the Fed & other CB’s will always bail them out.
That should never of been allowed to happen. Needs 2 end.
ANZ share price 2007 around $ 31. Today $ 27 after a huge property boom & massive monetary stimulus.
But but the dividends you say, but it’s a 150 year old bank in a protected oligopoly position I say. Can we at least agree paying a CEO close to $ 100 million for a term was dumb?
The “cheap shot” envy associated with incomes & taxes in this country is ridiculous & damaging.
Throw in a soft currency & (economically) truly skilled people will go elsewhere.
The dumbing down continues & so will the bank of mum & dad, lucky inheritances & inequality.
In…
So now we have rents collapsing because of an oversupply due to investment encouraged by record low rates. & what’s the RBA been trying to get up, inflation. Brilliant.
Best of all these clowns are now experts on QE (which has never been successfully reversed anywhere).
Australian economists shouting 4 more rate cuts should also say what they expect rate cuts to do, what past rate cuts have achieved (other than out of control Sydney & Melbourne property markets) what impacts further rate cuts will have on household debt & financial stability. Ta
Years where household debt to income ratio hit a record high (year end data)
Each year, some thought it a problem
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2014
2015
2016
2017
2018
Years of recession in that time?
Zero
Qantas COVID bailout 2-3x the latest pretax profit 1 year guidance. Will it ever repay the bailout in tax ? Virgin under the radar a bit too as private equity stands ready to sell one day. Believe in capitalism but not crony capitalism. Tax wise we are not all in this together.
Honestly laughable how business self regulates itself in Australia.
How much more garbage has to go before it changes ?
(Financial Services Royal Commission, wage theft, casino money laundering, retirement village misdeeds, accounting firm cheating etc)
Most know who the right wing extremist commentators are in Australia, don’t give them oxygen by naming them, listening to them, voting for them or watching them. All of them would melt in the sun if they walked outside. Enough is enough.
Stop the bully.
Transurban is the worst example of capitalism out of control in Australia. They regressively pray on Australian’s, they are cheered by Super funds most of whose constituents suffer at the hands of the bully. What has the bully done in a time of crisis ? 0.
Trees.
A few Californian sequoia redwoods experimentally planted by the Victorian Forestry Commission in 1936 (86 years ago).
Some are now more than 60 metres high.
Great Otway National Park.
Why are (most) scared to discuss one obvious handicap for housing / rents … migration ?
How does it make any sense to run a high migration rate when housing can’t keep up ?
Not even sure where the private sector (growth) jobs are but that’s another question.
Ok not knowing the cash rate isn’t a great start especially after your shadow treasurer was calling for a inquiry into the RBA last week, but the much more important question is why is it at 0.1%, if the economy is booming, inflation is lifting & market rates are somewhat higher?
ASX 300 market cap AUD 1.7 trillion (300 companies). Which = 1.2 trillion USD.
Market cap of Tesla (286)+ Netflix (241)+ Zoom (77) = 604 USD billion or 50% of ASX total market cap.
Profitability of ASX 300 at 18x = USD 66 billion.
Tesla/Flix/Zoom profits ?
Strange times.
Reckon this market investing wise is worse than 87, worse than 2000 & probably worse than the GFC. Been buying on the back foot for a few days feel like I’m on the my own line headed for the dead ball line.
Telstra 2018 Annual Report
Renumeration report = 23 pages.
Chairman's & CEO message = 3 pages
Strategy and performance = 4 pages
Material risks to company = 2 pages
Outlook = 1 page
Pictures with children = 2
Pictures with mobile phones = 4
Rig a horse race eg: Fine Cotton get banned 14 years.
Rig a key interest rate benchmark bank gets fined a 440th of one years pre tax profit.
Moral: if you are going to paint a horse use good paint.
Grew up and spend a lot of time in NSW also spend and are currently in Victoria. Cannot believe the vile / hateful tweets that have/ are currently launching. We are all Australian’s & it’s approaching Christmas. Australia is better than this.
I know its emotional, but someone somewhere needs to clearly articulate independently Y housing supply has never matched demand despite ever increasing prices. Is it population growth ? is it a cartel market ? I don’t know but supply needs debate & focus not demand.
Honestly if you read the press today it feels like there are actually (conflicted) commentators (banks etc) that a scared to suggest a pre election rate rise for fear of upsetting the PM & Treasurer.
Rates are at 0.1% (not 3%) & inflation is at 5% you buffoons.
Libs waffle on about how good they are at managing the economy, truth is it’s all a charade based on record low rates, iron ore, population growth & housing. Libs also say they are going to reduce debt (never do) & hypercritically want the young to take debt on. No vision, joke.