‘What have you got to say?’: Greens Senator and Woolworths boss clash in Senate hearing
HTML-код
- Опубликовано: 12 сен 2024
- Greens Senator Nick McKim and Woolworths Group Chief Executive Brad Banducci have clashed in the Senate Select Committee on Supermarket Prices.
The chief executives of Coles and Woolworths are facing a Senate inquiry today as the government continues its investigation into price gouging.
Mr McKim asked Mr Banducci if he knew “what the average ROE [Return on Equity] for banks in Australia is?”
“It’s less than half of yours - it’s about 10 per cent.
“We have rapacious banks in this country - either the most profitable banks in the world or close to the most profitable banks in the world, and you are making two and half times their return on investment.
“What have you got to say to that?”
So many people here are for some reason defending the supermarket duopoly that has Australia by the balls. Why don't you give the CEO a suck, while you're at it lads?
Because Skynews told me if we give Woolies and Coles enough money, it'll trickle down :(
Because the inquiry guy is from the GREENS! *foams at mouth*
@@summerofblake6461 yeah,the Greens are a bunch of whimps.
Dont care how much they are paid you get 8 Million and you tell us that you failed to pay 1.2 Million to employees in Victoria the money which did come out under the hearing that to me is disgraceful and that shoud prison offense there. Two what profits are they earning and how and the what they are paying out to farmers and suppliers that my biggest question and everyone wants to see that.
Nothing will come from this you watch!
Ban woolworths, we should all be shopping at farmers markets
Historically, well since after 2008 when Brent Crude hits $90 a barrel the price at the pump has been around $1.50 p/l. Now we are paying $2.50. Why.
The AUD has weakened a lot against the USD since 2008. Also, there are other factors determining the price at the pump, not just crude.
Did U know it was below zero dollars a barrell around COVID. They couldn't get rid of it.
Fuel excise up 3% and then there haluge tax 10%
Greens policies are a big part of the reason why prices are so high. Cost of fuel and electricity.
prices have been going up for over 10 years, under your guys. Get over yourself.
Right 🙄 It's greens' policies and not the fact that we have a duopoly with two supermarket giants who stamp out any whiff of competition so that they can control the market, price gouge customers and just get away with it because there's nowhere else to shop. But keep living in your bubble.
What a baseless and outright lie
what greens policies? since when were the greens in government?
@@aidanjsammut they've held the balance of power numerous times at state and federal level since 2007.
How many oil refineries and power stations have been forced to close in this time? ESG policies mean that banks refuse to finance any capital expenditure to build/upgrade/maintain any fossil fuel related infrastructure.
Then there's the red, green and now black tape that is forcing up the cost of everything. You can't even build a new warehouse now without having to hand over tens (sometimes hundreds) of thousands of dollars for environmental and indigenous heritage impact studies.
Two voice activists going at each other
woolies and coles don't care as they know in the end labor will do nothing. They just have to deal with some angry independants and greens doing a bit of grand standing and then back to business. Grocery stores are businesses not charities
well you vote for the parties that do nothing.
How do you know? You are assuming he voted for Labor, that's just ignorant..@windwaker0rules
@@Lilygirl283 process of elim because he is bashing the parties that do something, and my comments keep getting deleted because sky is commie.
@@Lilygirl283 i am getting censored so i can't answer, nice.
@@windwaker0rules even independants and greens won't do anything as they have shares in them via trusts.
Brilliant performance.. This drama is a must-see.
I'm certainly not on the side of the CEO but the second that senator said "bullshit" he was in the wrong. If Banducci had said "bullshit" he'd have been held in contempt of the senate. It just goes to show, once again, that Australian politicians don't feel that the rules apply to them.
We have the option to shop at other grocery stores, so let's do that.
What we don't have any options for is buying fuel that isn't government sourced. The crude oil price hasnt fluctuated significantly since we paid 1.50/litre, yet our price is creeping towards $3/litre
Thats a variable we cannot control, at least we can control where we shop
fuel tax 75% to import blame government greed on franchise owners
@@coopsnz1 are you the guy that comments screenshots of import car prices in every JDM sales group
@@Coryw133 Yes ! labor introduced haluge tax 10% on trucks why transport costs higher now ! fuel excise now 50% =4% higher since liberals in power . labor causing more inflation and intrest rates to go up
You call that a hot seat?.. thats weak
It's all greed to Woollies
We look forward to your new competitor company ,,,
They only make 2.5 cents profit on 1 dollar spent in their shops .
@@stewatparkpark2933 EXACTLY ,, so what do these people want ,,?? Reduce payment to woolies workers? Reduce payment to the truckies? Reduce payment to the farmers?? The money needs to come from somewhere
Cole’s are way worse than
@@MR.PRESIDENTOFFICIAL We all look forward to your new company that will compete. I look forward to seeing how you reduce costs ,, how you reduce wages of workers ,, reduce payment for truckies and reduce payments to farmers ........ or do you have some MIRACLE so you don't reduce costs but reduce prices
Yeah yeah, it's dancing with the stars show
The Greens are silent on the youth crime epidemic driving home invasions and car jackings yet want to jail a supermarket boss haha.
Government knew this for years. Its a reflection on their consumer policy. So dont play the whip greeny your part of it.
Does Nick McKim think he sounds intelligent?
After this Meeting Woolworths CEO will meet Albanese in the car park with a Briefcase 💼 full of Cash 😂😂😂
And a BJ no doubt
The "greens" in Canada are "reds", sounds like they're the same in Australia.
Why does the CEO sound like one of our politicians.
Why don’t shoppers visit Aldi first
Simple solution,don’t shop at this un Australian business.
Clear from this exchange who should be a senator and who should not. Why do we not have senator's of the calibre of Brad but rather those of Nick's paltry capabilities?
Where can I watch the full length. ?
This bloke is representing Australia very well! We are fed up
The ONLY way to stop Coles and Woolies is to support small business - but we tax small biz through the nose and give tax loopholes to corporations - allowing the big 2 to crush them.
Now all the independents are gone.
People dont support small business they pretend to.
@@bobdown5520franchise tax to hell to a left side claim the corpration owned
These senators are cringe. They haven't a clue what to be asking.
That's way i🩵 Woollies
He backed the YES vote - i love how the CEO of Woolies was treaty by the Greens senator lol...
Where can we watch this recording ?
Albanese sets up another fools errand for parliament & public (another "Voice" debacle). Without substantial markup on the cost of purchasing goods, how would Coles & Woollies pay for the massive costs of staffing nearly 2,000 outlets & distribution centres Australia wide, as well as rent, transport, refrigeration, air con, wastage, insurance, etc, etc, etc. How did Australia achieve such a concentration of idiocy in a single government?
The Libs are just as bad. Take your Labor blinkers off for a minute and you might actually see the real problem.
all the communists will come out to complain about prices - shop elsewhere - we don't want to be Yugoslavia
Wow..this actually makes no sense.
Bro THINK before you type
What an idiotic comment.Why should people pay for something more than a reasonable price.Do you like being ripped off? Sounds more like a share holder comment.
Retard
@@mehmettemel8725taxes gone up under labor & regulations
Phew…Imagine, a Greens senator grilling someone about whether they’re worth what they’re paid!!!
unlike themselves. This whole session was such a waste of really valuable time - paid for by us. Greens should be fired and sent into the real world (unsubsidised)
He own 6 homes he a communist grub kim @@adamredman3000
Doing a great job keep up the tax payers money on these meetings of production
Gets paid millions can't answer questions
He answered them perfectly
Blah, blah, blah 😂
Where can one watch this
Brad
Brad Bandito
Senator is a complete, grandstanding disgrace! Horrible bullying behaviour, what example does this set? How does this even try to solve the questions at hand?
You don't think they just want some facts from CEOs who try the diversion tactic ? All CEOs would know this figure.
I agree that some CEOs may want to dodge clear questions. I also think that he Brad was not able to answer the question as asked, there are two or three methods of calculating returns on equity, share capital etc, different industries can use alternative methods. For the senator to compare Woolworths with Banks during a particular time period is a silly question, designed to grandstand in my view. I also think Brad didn't know the answer to the ROE question, they may use different methods... who knows. Eitherway McKim shows how not to run an enquiry if you are looking for answers, contrition or dialog.
@@Billywoo12Just like any political figure was able to get any clear or concise answers from any CEO who was under any enquiry.
All CEOs are trained on evasive tactics with queries especially from government entities. The people all knew a government enquiry wasn't going to do shit unless they stepped on the wrong person's toes. Which in corporate Australia rarely ever happens....
How about an extra player in the bull ring like a mega Tesco lotus and in prime locations for fair and equal competition in Australia .
The CEO could pass as a NSW state liberal poli, meanwhile this Greens MP doing the questioning, shame he's not leading the country, been a while since I've heard an Aus poli that has a spine and actually sounds normal.