24 May 2008

saturday night's all right

The only song title I could come up with immediately about Saturday.


Well, not much else to think about. It's a shame the erstwhile brilliance of VVB must decline into its dotage so quickly, but what we need my friends is time, and time we don't have.

However we're here back in the Chateau, perched in the leafy western suburbs and a full Saturday of packing, lifting, toting and ripping up carpet awaits.

The roof cleaner has wrought his magic and the roof is a brilliant terra cota, because that's what the tiles were before 35 years of gum sap and bird poo rendered it a tasteless, slimy green. It looks fabulous, why did we not get it cleaned when we moved in so we could have enjoyed it fully this past ten years?

I can't wait to see it when the new carpet goes down - we probably won't want to sell.

But there will be no choice, I'll officially be King of RARAland come Monday. As Gene Pitney sang,
Last Chance to Turn Around...hmm, that opportunity has passed. On Tuesday I'll be in Theodore, my territory is large and diverse. It was named after "Red Ted" Theodore and is, by all accounts, a very pretty little place so despite the fact that I'll be working I'm looking forward to seeing somewhere different.

Back to the decline of VVB, apparently despite its continuing lapse into irrelevance certain readers do take the time to peruse and discuss, including the now Mrs
Possum. I'm bitterly disappointed that no anonymous comments result from this no doubt close parsing of the fragile text on display here. I'd welcome a bright, hermeneutics-based confab (why did that word spring to mind?).

After all, youse do it in real life, real time, eh?

Anyway, the call of manual labour grows too strong to resist. I've had a quick look at today's headlines,
this is the only one of any interest whatsoever. Although 400 doctors or something have pronounced John McCain fit enough to be President of the US. I think that's more detail than anybody should ever reasonably want to know: what would we have learnt about John Gorton, for example?

I suppose just to put in something of substance, this is a pretty good article I think about corporate governance as she is practiced in Australia.

No having the slightest in depth knowledge of any of this stuff apart from if it smells off it probably is, VVB can't really do any discussion. However the public prominence of the proposed Westpac takeover of St George has certainly got a lot of people talking (well, those that talk to me anyway - a dwindling crowd).

Most focus on the role of Gail Kelly as previous CEO of St George, and that's certainly a factor. But I was in a workshop earlier this week where someone put up the stats on how many mergers, let alone takeovers, fail to produce the forecast benefits. Far more than half of these destroy shareholder value. Investment advisors, the merchant banks, do very well from the fees.

Whenever I get comments about the sort of thing I do and whether it does any good, I always compare it to these shining lights of human endeavour and I end up feeling a lot better about myself. If this corporate activity has published stats on previous success, or lack of it more to the point, but the smarties and small club of board directors in Australia still persist, surely you've got to ask why?


Next post will be written entirely in either first, second or third person but not all three.

No, bugger it, it'll be written how it comes out.


JahTeh said...

I can't tell you how pissed off I am about St. George selling out. I've been with them since they started and the thought of having to go back to a huge faceless monster is shitty. It means my little branch will close, no-one will know my circumstances at the 'big one' down the road so I'm on a hate mission.

phil said...

I was with Canberra Building Society before it became Advance Bank before St George took it over.

We left Westpac in the late 70s when they consistently buggered up our accounts along with stupid things like failing to take notice of change of address. Utterly hopeless.

Now we'll be back with them.


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