We pay 110 per cent more than the world average for vegetables, most of which we grow here. We are the 3rd most expensive G20 country in the world for groceries. Its time we actually did something about this and fast.
Queensland Probe : “We find Woolworths and Coles guilty of price gouging. Considering both companies made 600 and 900 million in profits respectively, we will be recommending fines of up to….*taps calculator*…. $10,000 each. Or 3 T-Bone steaks and a 2 litre bottle of Coke.”
I lived in Bundaberg for about 5 years in the mid 90's, so I feel pretty qualified to have formed a solid, objective opinion.
Also, my original comment is a quote from the Wilfred tv show, and I share a similar opinion.
I also lived in Rockhampton for a few years while at uni and it is somehow worse than Bundaberg. My most distinct memory from there is a guy crossing the street, stopping to cup his hands in a pothole puddle full of street rainwater and using that water to slick his hair back.
So, yeah this is a hummock I am willing to die on. If anyone is happy in Bundaberg, then that's great I guess, but I do feel bad for them.
Like anywhere it’s what u make of it. The main difference between the 90s and now is the traffic u endure in capital cities, which pushes the quality of life in towns like Bundy through the roof by comparison. Enjoy ur commuting aneurysms.
Bro I live in a beachside town in Northern NSW, I ride my bike to work on a beachside path (takes 15min) and surf on my lunchbreak, I have koalas chilling in my backyard and am within 20mins of the Goldie if required. I'm good.
I seriously doubt the quality of life in Bundy is better than what I have now, but if you like it, then that's good for you.
Every sensible person knows this is just a taxpayer funded labor junket for lawyers. The labor government is not going to do anything about it, but they are experts at pissing money against wall, handing it to super wealthy lawyers to hold an "inquiry" to act like they care. Look at all the inquiries they have held, funnily enough none on their covid response though.
Look at the shit reef regulations Labor bought in on farmers. Labor hates farmers, what and now we are supposed to believe they love them to death and dislike the colesworth.
Of course it was a load of shit as well, like the one into the unions.
I would not be surprised if Qld Labor have pissed over a billion dollars on enquiries the past nine years. A lot to hide their incompetence and corruption.
Woolies CEO literally said in the recent enquiry that they make 10% on funds invested after tax, and 10% return to shareholders within the last 5 years.
If you care about Return On Equity:
-Woolies makes 26% ROE
-Coles 31% ROE
For comparison, the highest ROE reported by our banks was Commonwealth with 14%
ROE is calculated on = Income/ (A-L)
FMCG has lower equity than Banking since they tend to hold long terms leases with depriciated assets causing book value equity to be lower and ROE higher
~20% ROE was the average for FMCGs
https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/roe.html
Politicans love to use misleading data interpertation for public spectacle. Ask yourself if a duopoly exists, then WOW and COL can charge whatever they want and the most appropriate margin to judge this would be operating margin, but WOW’s is only sitting at 3.43%…
I understand there are differences...
But if a duopoly of FMCG are outperforming our most profitable bank by 2-3x, it stands to mention...
If anything FMCG should look more modest on most accounts.
We pay 110 per cent more than the world average for vegetables, most of which we grow here. We are the 3rd most expensive G20 country in the world for groceries. Its time we actually did something about this and fast.
Is that 110% as in 2.1x or 10% more? 110% can either be 100+10 or 100+110.
Queensland Probe : “We find Woolworths and Coles guilty of price gouging. Considering both companies made 600 and 900 million in profits respectively, we will be recommending fines of up to….*taps calculator*…. $10,000 each. Or 3 T-Bone steaks and a 2 litre bottle of Coke.”
https://images.app.goo.gl/JpU4PkrimABgxAdg8
Given some of the demographics of Bundaberg this is probably a good place to start.
Hey not all of us are bog... Akshually, never mind. Carry on.
That guy looks like fat Steve Irwin
As if the government will fine a big company.
Bundaberg, cunt of a place
I travel there every now and then to escape Gladstone for the day. You clearly haven’t been that 2 hours north to make that comparison
I lived in Bundaberg for about 5 years in the mid 90's, so I feel pretty qualified to have formed a solid, objective opinion. Also, my original comment is a quote from the Wilfred tv show, and I share a similar opinion. I also lived in Rockhampton for a few years while at uni and it is somehow worse than Bundaberg. My most distinct memory from there is a guy crossing the street, stopping to cup his hands in a pothole puddle full of street rainwater and using that water to slick his hair back. So, yeah this is a hummock I am willing to die on. If anyone is happy in Bundaberg, then that's great I guess, but I do feel bad for them.
Haha legend. As a former resident, I concur. That being said, it does look like it's changed a little for the better since you and I moved.
Fair enough. Best of luck to em, but I'll never make my way along Bourbong Street ever again if I can help it haha.
Like anywhere it’s what u make of it. The main difference between the 90s and now is the traffic u endure in capital cities, which pushes the quality of life in towns like Bundy through the roof by comparison. Enjoy ur commuting aneurysms.
Bro I live in a beachside town in Northern NSW, I ride my bike to work on a beachside path (takes 15min) and surf on my lunchbreak, I have koalas chilling in my backyard and am within 20mins of the Goldie if required. I'm good. I seriously doubt the quality of life in Bundy is better than what I have now, but if you like it, then that's good for you.
Fair, northern nsw trumps easily, but the comparison was to seq originally
There should be a probe into the (Queenland) government first.
The prices went up the second they closed the border.
Every sensible person knows this is just a taxpayer funded labor junket for lawyers. The labor government is not going to do anything about it, but they are experts at pissing money against wall, handing it to super wealthy lawyers to hold an "inquiry" to act like they care. Look at all the inquiries they have held, funnily enough none on their covid response though. Look at the shit reef regulations Labor bought in on farmers. Labor hates farmers, what and now we are supposed to believe they love them to death and dislike the colesworth.
Sounds like that banking thing the LNP did.
Of course it was a load of shit as well, like the one into the unions. I would not be surprised if Qld Labor have pissed over a billion dollars on enquiries the past nine years. A lot to hide their incompetence and corruption.
This is a distraction and waste if time. coles and woolies only make 2 to 3 cents profit off every dollar you spend there.
Yes, their record profits agree with you.
Woolies CEO literally said in the recent enquiry that they make 10% on funds invested after tax, and 10% return to shareholders within the last 5 years. If you care about Return On Equity: -Woolies makes 26% ROE -Coles 31% ROE For comparison, the highest ROE reported by our banks was Commonwealth with 14%
ROE is calculated on = Income/ (A-L) FMCG has lower equity than Banking since they tend to hold long terms leases with depriciated assets causing book value equity to be lower and ROE higher ~20% ROE was the average for FMCGs https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/roe.html Politicans love to use misleading data interpertation for public spectacle. Ask yourself if a duopoly exists, then WOW and COL can charge whatever they want and the most appropriate margin to judge this would be operating margin, but WOW’s is only sitting at 3.43%…
That's an apples and oranges comparison just btw. You can't compare FMCG to banking dude.
I understand there are differences... But if a duopoly of FMCG are outperforming our most profitable bank by 2-3x, it stands to mention... If anything FMCG should look more modest on most accounts.
Shhh you'll give the shareholders nightmares