Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Sunday, October 21, 2007

Torture proliferates American headlines today: whether its use is defensible in certain contexts and the morality of the practice. Wikinews reporter David Shankbone was curious about torture in American popular culture. This is the first of a two part series examining the BDSM business. This interview focuses on the owners of a dungeon, what they charge, what the clients are like and how they handle their needs.

When Shankbone rings the bell of “HC & Co.” he has no idea what to expect. A BDSM (Bondage Discipline Sadism Masochism) dungeon is a legal enterprise in New York City, and there are more than a few businesses that cater to a clientèle that wants an enema, a spanking, to be dressed like a baby or to wear women’s clothing. Shankbone went to find out what these businesses are like, who runs them, who works at them, and who frequents them. He spent three hours one night in what is considered one of the more upscale establishments in Manhattan, Rebecca’s Hidden Chamber, where according to The Village Voice, “you can take your girlfriend or wife, and have them treated with respect—unless they hope to be treated with something other than respect!”

When Shankbone arrived on the sixth floor of a midtown office building, the elevator opened up to a hallway where a smiling Rebecca greeted him. She is a beautiful forty-ish Long Island mother of three who is dressed in smart black pants and a black turtleneck that reaches up to her blond-streaked hair pulled back in a bushy ponytail. “Are you David Shankbone? We’re so excited to meet you!” she says, and leads him down the hall to a living room area with a sofa, a television playing an action-thriller, an open supply cabinet stocked with enema kits, and her husband Bill sitting at the computer trying to find where the re-release of Blade Runner is playing at the local theater. “I don’t like that movie,” says Rebecca.

Perhaps the most poignant moment came at the end of the night when Shankbone was waiting to be escorted out (to avoid running into a client). Rebecca came into the room and sat on the sofa. “You know, a lot of people out there would like to see me burn for what I do,” she says. Rebecca is a woman who has faced challenges in her life, and dealt with them the best she could given her circumstances. She sees herself as providing a service to people who have needs, no matter how debauched the outside world deems them. They sat talking mutual challenges they have faced and politics (she’s supporting Hillary); Rebecca reflected upon the irony that many of the people who supported the torture at Abu Ghraib would want her closed down. It was in this conversation that Shankbone saw that humanity can be found anywhere, including in places that appear on the surface to cater to the inhumanity some people in our society feel towards themselves, or others.

“The best way to describe it,” says Bill, “is if you had a kink, and you had a wife and you had two kids, and every time you had sex with your wife it just didn’t hit the nail on the head. What would you do about it? How would you handle it? You might go through life feeling unfulfilled. Or you might say, ‘No, my kink is I really need to dress in women’s clothing.’ We’re that outlet. We’re not the evil devil out here, plucking people off the street, keeping them chained up for days on end.”

Below is David Shankbone’s interview with Bill & Rebecca, owners of Rebecca’s Hidden Chamber, a BDSM dungeon.

Sunday, January 27, 2013File:Australian Mitre 10 logo.jpg

Wednesday, an over-90-year-old Manns Mitre 10 hardware store, run by Alex P Mann Pty Ltd, closed until further notice after a rent dispute in Port Adelaide, South Australia. The rent dispute involved $315,060.70 of rent for months of September 2012 to January 2013 unpaid to the landlord, Fourteen Sails Pty Ltd. The site was distrained. The store had to fire about 40–50 employees without a warning in advance.

The store was closed three days before Australia Day, January 26, Saturday.

The store administrator, Tim Clifton, said they had to ring the workers out of the blue: “I was advised the landlord had distrained for unpaid rent over the business and that left the directors in the position where the business was untenable. I presume at this stage trading was poor and the company just didn’t have the money to pay the rent. … Unfortunately they had to terminate their employment this morning and we’ve rung them all. We’ll do our best to get them their entitlements under the government schemes, and we calculate what they’re owed in the next few days and hopefully get that underway for them. … It’s a sad day. It’s a sign of the times isn’t it. Things are tough out there.”

Construction, Forestry, Mining and Energy Union state secretary Dave Kirner said workers were not allowed to collect their personal belongings left inside of the store: “I spoke with a worker who said the locks have been changed, they were asked to leave and all their personal belongings are in there”.

On Saturday, Wikinews took photos of the documents available at the store entrance. The rent dispute details and an inventory were available for everyone to read. During the ten minutes of taking photos, around seven people visited the closed entrance and read the documents a first time. One of them commented, “oh hey, Bunnings will be stronger”.

The store owner, Jarred Spearman, reported negotiations ongoing with the landlord and said he would “hopefully try to work [our] way out of this … We are pretty lucky to have the customers and staff we had”.

Port Adelaide Mayor Gary Johanson said the loss of the store is a significant loss as Port Adelaide is being redeveloped: “Their staff were extremely good, the service levels were high, the store was always well stocked and it was a great example of a family business. That will be a great loss to the Port.” “The landlord is not at fault here. The landlord is acting within their rights. … This is the sort of thing we cannot afford to lose if we’re serious about the Port being redeveloped. This is not a multinational company. This is a franchise of a bigger company but it is a family franchise and it employs a lot of staff. The staff that they employ are local people and they’re employing large amounts of staff in relation to their turnover. We need to take stock of what local businesses we have left and say, how can we ensure they stay with us?”

Tuesday, August 5, 2008

Starting in September, British schools will inform parents of their child’s weight in an attempt to deal with the growing issue of obesity, according to an announcement by the Department of Health (DoH).

Nearly 23% of children aged 4-5 are overweight or obese, with that figure growing to nearly 32% for children aged 10-11. Standard procedures in schools involve weighing and measuring children in schools to determine their body mass index (BMI). The information is passed on to the National Health Service (NHS) to determine the extent of obesity in the area.

Parents will soon be sent a letter of their child’s weight, including advice on what to do if the child is overweight. However, government ministers have ruled that “offensive” language, such as “obese” or “fat” will not be allowed to be used in the letters, with words such as “overweight” being used instead.

The letters will provide useful information to parents, such as the problems caused by obesity like diabetes, and how to overcome these problems. Research has shown that parents often do not realise their child is overweight, and the letters will be a “wake-up call” to them.

“We have to get the balance right between being a nanny state and a neglectful state,” said Will Cavendish, the director of health and wellbeing at the DoH.

Sunday, May 20, 2012

U.S. Democratic Party presidential candidate John Wolfe, Jr. of Tennessee took some time to answer a few questions from Wikinews reporter William S. Saturn.

Wolfe, an attorney based out of Chattanooga, announced his intentions last year to challenge President Barack Obama in the Democratic Party presidential primaries. So far, he has appeared on the primary ballots in New Hampshire, Missouri, and Louisiana. In Louisiana, he had his strongest showing, winning 12 percent overall with over 15 percent in some congressional districts, qualifying him for Democratic National Convention delegates. However, because certain paperwork had not been filed, the party stripped Wolfe of the delegates. Wolfe says he will sue the party to receive them.

Wolfe will compete for additional delegates at the May 22 Arkansas primary and the May 29 Texas primary. He is the only challenger to Obama in Arkansas, where a May 10 Hendrix College poll of Democrats shows him with 38 percent support, just short of the 45 percent for Obama. Such an outing would top the margin of Texas prison inmate Keith Russell Judd, who finished 18 percent behind Obama with 41 percent in the West Virginia Democratic primary; the strongest showing yet against the incumbent president. Despite these prospects, the Democratic Party of Arkansas has already announced that if Wolfe wins any delegates in their primary, again, due to paperwork, the delegates will not be awarded. Wolfe will appear on the Texas ballot alongside Obama, activist Bob Ely, and historian Darcy Richardson, who ended his campaign last month.

Wolfe has previously run for U.S. Congress as the Democratic Party’s nominee. On his campaign website, he cites the influence “of the Pentagon, Wall Street, and corporations” on the Obama administration as a reason for his challenge, believing these negatively affect “loyal Americans, taxpayers and small businesses.” Wolfe calls for the usage of anti-trust laws to break up large banks, higher taxes on Wall Street, the creation of an “alternative federal reserve” to assist community banks, and the implementation of a single-payer health care system.

With Wikinews, Wolfe discusses his campaign, the presidency of Barack Obama, corporations, energy, the federal budget, immigration, and the nuclear situation in Iran among other issues.