Perspectives...floods and profits

[underfoot]

Like many, I'm on the net reading about the catastrophic happenings in QLD at the moment ...
The damage bill has just been upgraded to an estimated at 10 billion dollars..

In an other article I read about the annual cash profits of the two major banks ( CBA and NAB) in 2010...yep you guessed it..$10 billion...
yes I know, it's a simplistic comparison.. however, now I can't watch the ferocious destruction occuring up north without thinking about bankers.

[Greg Ward]

Why not Woolowrths, Telstra, BHP QR, Boral, etc. etc.
They all generate international and Australian profits and are a business that provide a service?
Greg

[Ironwood]

A little bit of topic, but when I read the title of the thread I thought it was about profiteering from the flood.

A local Guy here said on his way to work everyday, he drives past a trailer full of pumpkins parked out the front of someones property, the sign says "pumpkins for sale $3 each "
The other day the local newspaper ran a front page story about how prices of vegetables and fresh food was going to go up, in some cases double. The next day on his way to work the sign had been changed to " pumpkins for sale $6 each ". Same pumpkins.

Now how could these people justify this ? I hope nobody buys their pumpkins.

[Big Shed]

And the point of this thread is?

What are you guys saying, that it is wrong to make a profit?

I'm sure even Mal Ward makes a profit, should he therefore donate whatever profit he makes to the flood victims?

Should Woolworth, Wesfarmers? I could go on.

I'm confused

[Big Shed]

A little bit of topic, but when I read the title of the thread I thought it was about profiteering from the flood.

A local Guy here said on his way to work everyday, he drives past a trailer full of pumpkins parked out the front of someones property, the sign says "pumpkins for sale $3 each "
The other day the local newspaper ran a front page story about how prices of vegetables and fresh food was going to go up, in some cases double. The next day on his way to work the sign had been changed to " pumpkins for sale $6 each ". Same pumpkins.

Now how could these people justify this ? I hope nobody buys their pumpkins.

It is called profiteering (otherwise known as human nature). No different from oil companies increasing petrol prices by 20c/litre when the holidays start.

But to be that blatant about it would do harm to your business and those pumpkin sellers may well find that the customers they turn away today will never come back and I hope they don't.

[springwater]

It is called profiteering (otherwise known as human nature). No different from oil companies increasing petrol prices by 20c/litre when the holidays start.

But to be that blatant about it would do harm to your business and those pumpkin sellers may well find that the customers they turn away today will never come back and I hope they don't.

Humans like any other living thing have an innate will to survive, profiteering is a part of that, but the elephant in the room is morality and who ever said greed is good is bad. I think that's what Undy was about. Although the 200% price hike looks bad, the poor all pumkin sellers' supply may have been wiped out in the flood and perhaps even at $6 a pumkin he's in dire straights in the long run

[Big Shed]

Couldn't agree more with your sentiments, Springwater.

But I can't get that message from Undy's post, I just don't get the link between the Qld floods costing $10bn and the banks making a $10bn profit

I think you are on dangerous ground when you use the word morality in the context of big business

[springwater]

Don't worry big shed, at the moment I'm assuming it's just a fragment of Undies imagination, he's just thrown it out there, you know...he'll be back ...maybe not, he may have run away, he's just a naughty boy you know

Yeah, the morality issue, just always there, won't go away will it, it's the little voice inside and believe me big business are shyte scared of a lot of little voices

[wolften]

...as a side note, 10 billion and 2 years to get infrastructure back in place.
In a capital city, that is going to hurt and disrupt.

[acmegridley]

Went into my local Colesworths and wanted some oranges saw some the previous day were $3.98 a bag ,same pile of oranges today$6.98 not profiteering ?Not much
You have only got to mention shortage and away the b.....ds go.We do import them and there is more than one state that produces veges,plus there is always the frozen variety.

[springwater]

Went into my local Colesworths and wanted some oranges saw some the previous day were $3.98 3 kg ,same pile of oranges today$6.98 not profiteering ?Not much
You have only got to mention shortage and away the b.....ds go.We do import them and there is more than one state that produces veges,plus there is always the frozen variety.

When all my aunties and uncles were alive between us and them fruit and veg were abundant, each family tendered a few or more fruit trees, plum and nut trees and a vegy patch, preserving, pickle and sauces were common, it's not too late to turn things around. Why isn't there more action towards ridding ourselves of the burden of SUPERmarket/transport prices? I'm not a good practitioner of what I'm saying, for reasons, but the opportunity is there to beat the current system. I suppose given the current conditions up north though my thoughts may seem rather hollow for now but I believe worth thinking about as a community.

[Greg Ward]

Fred,
I'm with you with profits.
I was trying to make the point (obviously badly) that there is nothing really wrong with bank profits and there is no reason to pick on them, or if you are going to do so, you should include all other companies making profits from selling goods and services.

Mal doesn't make any money really, he just supports the farming communities by buying their logs and the white ant community as well......and if you don't believe me, check the google map at the end of Spokes Rd on the web directions and see what he has lying around the farm.

Thanks and Warm regards
Greg

[Big Shed]

Fred,
I'm with you with profits.
I was trying to make the point (obviously badly) that there is nothing really wrong with bank profits and there is no reason to pick on them, or if you are going to do so, you should include all other companies making profits from selling goods and services.

Mal doesn't make any money really, he just supports the farming communities by buying their logs and the white ant community as well......and if you don't believe me, check the google map at the end of Spokes Rd on the web directions and see what he has lying around the farm.

Thanks and Warm regards
Greg

Greg, not really having a shot at you or Mal, just making the point that profit is not a dirty word, be it profits made by a big corporation or a profit made by a single trader trying to feed his family. I wish there were more Mal Wards around buying and selling good timber, us woodies would all be a lot better off.

Just felt that it was a relatively cheap shot at the banks, and didn't get your point re "what about the other big companies"

This country would be a lot worse off economically without big and small businesses making a profit, paying taxes and employing people. After all they are the ones that produce wealth, not the various layers of government etc.

I'll get off me soapbox now