Oh great! The Commonwealth Bank of Australia has bought BankWest of Western Australia from the failed British bank HBOS. That's all we need - more concentration in bank services, i.e. less competition. Not a bad purchased for them because its great exposure to the strongest regional economy. The $A is down 30% offsetting commodity price falls. With all that business investment flooding into WA, there must be some opportunities there for banks.
This acquisition of course follows on from Westpac's acquisition of St George Bank.
Such good fortune could not have happened to a nicer group of people than CBA.
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Andrew Sheldon www.sheldonthinks.com
Tuesday, October 7, 2008
Sunday, October 5, 2008
Vindication for my complaints
Its interesting how events unfold. People have a history. So when you have bad experiences with people, its not surprising that you will finally be vindicated. I have so little trust in the system that I did not take legal action against Michael Blomfield. I did not want the stress, I was overseas, and its such a negative activity to engage in court action. I'd rather engage in more positive action and leave the scandal to others. Hope she wins.
It comes as some vindication to see this guy involved in a sexual harassment scandal. The allegations are made on the SMH Online website. I lost $10,000 because of the way this guy's department closed down my account after I made a number of complaints about their service. This issue had a huge psychological impact on me years ago because your relationship with your bank is so important, and the law gives little confidence.
I suspect this culture at the CBA is a legacy of its former days of government ownership. The worst cocktail would have to be a privatised state-owned enterprise. Culture-wise it would have to be like a public servant on steroids. Kevin Rudd comes to mind. Yep, that's the image that comes to mind.
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Andrew Sheldon www.sheldonthinks.com
It comes as some vindication to see this guy involved in a sexual harassment scandal. The allegations are made on the SMH Online website. I lost $10,000 because of the way this guy's department closed down my account after I made a number of complaints about their service. This issue had a huge psychological impact on me years ago because your relationship with your bank is so important, and the law gives little confidence.
I suspect this culture at the CBA is a legacy of its former days of government ownership. The worst cocktail would have to be a privatised state-owned enterprise. Culture-wise it would have to be like a public servant on steroids. Kevin Rudd comes to mind. Yep, that's the image that comes to mind.
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Andrew Sheldon www.sheldonthinks.com
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