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[den]

Two sentences in an article from The Age

The Commonwealth Bank of Australia has announced plans to axe another 1,000 jobs...

...the news coincided with the bank announcing a net profit of $2.66 billion for 2001/02.

Comments

[weyrdbird.livejournal.com]

Does a guy named Arthur Anderson have anything to do with it;)?

[dewhitton.livejournal.com]

No.

But Arthur Anders was involved with Australia's biggest corporate failure, HIH insurance.

[weyrdbird.livejournal.com]

Hmm, interesting. I wonder if that factoid is going to come out at the Worldcom trial. If they are one and they same and I were the prosecution lawyers I'd be looking at every company AA ever audited is so.

[dewhitton.livejournal.com]

HIH went down before Enron did. It was sort of like the trigger for all the others.

[http://users.livejournal.com/crossfire_/]

Over here, when a bank does something like that, they end up dying a loud, painful, and public death within a year. :-(

[dewhitton.livejournal.com]

That doesn't happen here. The banks are buying each other out so that we have reached a point where there are only 5 major banks left: Commonwealth, Westpac, National Australia Bank, St. George, and ANZ. Credit Unions are picking up the rest.

The newest thing to arrive is the community bank, owned and run by the people of the town. The first was the Bank Of Bendigo, which was so successful it's financing the new branches around the country because the 5 Majors won't finance them.

[dizzdvl.livejournal.com]

That's because we bankers are evil corporate scum! Muahahahaha!

Actually I am such a peon at the bank I don't get any of that kind of profit. They screw us over too.

[baxil.livejournal.com]

Hey, that's what's happening over here in the U.S., except without the profit.

... Too fucking many of my close friends are recently jobless. >:(