The Pickering Post
Monday, 28th May 2018

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Larry Pickering

Four-time Walkley Award winning political commentator and Churchill Fellow, has returned to the fray over concern that the integrity of news dissemination is continually being threatened by a partisan media.

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Comments

Dante there are so many inaccuracies in your posts, please give up now, quit while you're behind before you crash.

When you pay a CEO $22,000 a day, you would expect they would be accountable for the running of the Bank and to protect it's reputation. Seems not......

You need to read the Accoutancy for Dummies book BK.

A hhh Auditors. Yes, the people who go through accounts and don't realise some of the people still paying financial advice fees are dead or some people are payng fees for services they don't get. Yes, I've heard of them BK. I believe Banks have armies of auditors.

CBA ETERNITY FEES.

Yeah, thanks for the lesson BK. The Board decides fair and reasonable remuneration to get the best CEO. That works doesn't it. Read post again and you will realise you missed the whole gist. But arguing with you is futile and a waste of time. I found that out in the Multinational tax discussions.

Ever heard of auditors Dante? Major firms of accountants audit bank accounts and the accounts are published for shareholders to read, and ATO, and others. Audited accounts signed off by auditors by law. CEO's are paid what the Board decides is fair and reasonable, and competitive to get the best person. Shareholders vote at Annual General Meetings and CEO senior executive remuneration is published in annual reports to shareholders. The 2018 Interim Dividend for the financial year is from CBA's report to shareholders. You are wrong again. Prejudice based on poor knowledge is a dangerous mix.

Creative accounting BK. That's why CEO's can get $20,000 a day, the army of executives, board members and other hanger ons get mega bucks so you can tell us Banks provide 72% NPAT to shareholders.

Do you understand? 72% of Net Profit After Tax paid to shareholders - which exposes your claim to be false.

I hope you have plenty of Commonwealth Shares in your portfolio BK, and Telstra Shares.

2018 Interim Dividend

Commonwealth Bank of Australia announced a fully franked interim dividend of $2.00 per share on Wednesday, 7 February 2018, a 1 cent increase on the 2017 interim dividend. This represents a dividend payout ratio of 72% of cash NPAT.

ASIC can't be doing their job if Banks can do what we have found out they do and are left alone by lying to some questions asked by ASIC. And what are the penalties for lying to ASIC? Toothless tiger with many public servants being paid handsomely. If you lie to the Taxation department they tear strips off you. Unless you hire Robert Richter to defend you.

Banks are theoretically owned by shareholders who have absolutely no say in how Banks are run because it is the big institutions who have sway in the voting. And shareholders get a pittance of the profits. As little as Banks can get away with.

Hitler, had only one left ball,
Goering had two, but very small,
Himmler, had something similar,
but poor old Goebbels
had no balls, at all.

That is true, and one good reason why our banks remained strong during the GFC when many banks overseas did not. Regulated by government agencies is different to governance within the corporation. One witness bank employee told the RC that management had lied to ASIC many times, the regulator asked questions.

Banks are owned by the shareholders, and they include many superannuation funds and related members.

I hear that insurance companies will substantially increase premiums on funeral insurance to cover dead people's Commonwealth Bank liabilities.

I hope I don't have a CBA account when I die.

"COMMBANK CAN, (BECAUSE WE CAN)".