The totally off-topic thread

[amaroo]

I'd forgotten about that announcement. I guess it will mean ridiculous premiums soon as the status will change from "not for profit" to "lets rip everyone off"?

From the 2013 annual report.....

 

[JessicaTam]

Anybody heading to Las Vegas in near future? Just realised Cruiserette failed to 'CASHOUT' her winnings at Paris 2 weeks back - I won't be back there til next Sept and validation will be expired - can anybody help an AFF brother out pls?

View attachment 35389

I will be in LAX for 9 hours in October. I could catch a return flight to LAS whilst I am there to take advantage of your generosity.

 

[Cruiser Elite]

I will be in LAX for 9 hours in October. I could catch a return flight to LAS whilst I am there to take advantage of your generosity.

More than happy to offer a 10% sling to whoever can help me out of this pickle!

 

[UpInTheAir:)]

I don't do this very often but realise why I hardly ever fly back to Brisbane on a Monday morning.

Up at 5:15am, go to SYD airport for flight to BNE, go to apartment via DFO and Translink to drop off bags and make lunch and get to office ~11:25am. I am tired and half asleep and need to put in a few more hours for the day.

Flying on a Monday morning anywhere is horrible airport is zoo-like... worst is MEL-PER-MEL in one day.. but at least you can sleep on that one.. particularly VA business class.
Feel happy with the satisfaction that you are being productive I am enjoying the sunshine

 

[RAM]

I don't do this very often but realise why I hardly ever fly back to Brisbane on a Monday morning.

Up at 5:15am, go to SYD airport for flight to BNE, go to apartment via DFO and Translink to drop off bags and make lunch and get to office ~11:25am. I am tired and half asleep and need to put in a few more hours for the day.

Flying on a Monday morning anywhere is horrible airport is zoo-like... worst is MEL-PER-MEL in one day.. but at least you can sleep on that one.. particularly VA business class.
Feel happy with the satisfaction that you are being productive I am enjoying the sunshine

Ah those were the days, catching the 5.55am QF SYD/MEL seeing 7 or 8 funds we managed, racing back hoping to get on an earlier flight back to SYD rather than the 6.30pm.

How can I not long for that cheese omelette that stuck to both the tin foil dish & cover together with the object that was called a grilled tomato.

Always better to do it on a Monday as later in the week the trip out just gets so slow as the 3 day weekend or weekend traffic joins the battle. IMHO doing it on a Friday was cruel and inhuman punishment!

 

[UpInTheAir:)]

Always better to do it on a Monday as later in the week the trip out just gets so slow as the 3 day weekend or weekend traffic joins the battle. IMHO doing it on a Friday was cruel and inhuman punishment!

True... I am developing a company policy.. flying on Fridays or Mondays will incur a surcharge... a very very expensive (quality of life) surcharge

 

[Buzzard]

More than happy to offer a 10% sling to whoever can help me out of this pickle!

Maybe send some emails TO Nigeria

 

[serfty]

I'd forgotten about that announcement. I guess it will mean ridiculous premiums soon as the status will change from "not for profit" to "lets rip everyone off"?

Dunno - the Insurance I switched to a few years ago after being with Medibank Private since the early 80's offers far more comprehensive cover for a much cheaper premium.

 

[JohnK]

Dunno - the Insurance I switched to a few years ago after being with Medibank Private since the early 80's offers far more comprehensive cover for a much cheaper premium.

Is that a bit like some of the white goods health insurance products out there?

I get worried when I see a cheap health insurance product and it is underwritten by a holding company operating out of a 1 room office in Sydney that feels like someone operating from their backyard.

 

[Cossie]

From the 2013 annual report.....

View attachment 35390

and your point is?

I'm more than happy with any profit going back into consolidated revenue as opposed into the pockets of a few shareholders.

 

[amaroo]

and your point is?

I'm more than happy with any profit going back into consolidated revenue as opposed into the pockets of a few shareholders.

A not for profit wouldn't require one of those graphs :idea:

 

[Cossie]

A not for profit wouldn't require one of those graphs

Fair enough, it was a "not for profit organisation" when I worked there, it seems it was converted to a "for profit organistaion" by the Rudd governement in May 2009 and also would pay tax on any profit.

Now there is a novel idea, make a profit that goes back into consolidated revenue and also pay tax on any profit, which I presume also goes back into consolidated revenue.

Sounds like a win, win situation to me.

Ah bugger it, let's sell it off and have any profits go into the pockets of a few.

 

[RAM]

Dunno - the Insurance I switched to a few years ago after being with Medibank Private since the early 80's offers far more comprehensive cover for a much cheaper premium.

In the vein of 'but wait there's more..."

After several years of "we must sit down sometime and do a proper analysis of our PHI." 2014 saw it happen.

A quick flick through the super fund annual report showed a 'members' benefits' section with a 'corporate' discount for PHI. The existing fund had announced what we both assumed MUST be the before Govt rebate amount. No, it wasn't - the annual amount had increased that much.

Looked at one of the on-screen compare facilities - produced some strange results.

Rang existing fund BUPA - only bad news the longer they spoke.
Rang NIB (super fund benefit) - sounded promising but surely it could not be 40% cheaper for more than BUPA offered.
So checked pricing on online site no corporate discount - still significantly cheaper.

Downloaded the PDF, read it, still much cheaper, so rang BUPA back and asked how it could be? Told that's just how it is. You can downgrade your cover (to a lower level than offered by NIB and pay a still HIGHER price for less cover) if you want to.

So NIB and we won - the savings pay 1.5x the cost of an Austrian season family ski pass for the five of us.

 

[RAM]

Fair enough, it was a "not for profit organisation" when I worked there, it seems it was converted to a "for profit organistaion" by the Rudd governement in May 2009 and also would pay tax on any profit.

Now there is a novel idea, make a profit that goes back into consolidated revenue and also pay tax on any profit, which I presume also goes back into consolidated revenue.

Sounds like a win, win situation to me.

Ah bugger it, let's sell it off and have any profits go into the pockets of a few.

Actually a loss-loss-loss situation as they then had to start paying for taxation services as well as convert the computer accounting systems to account for tax, pay external tax auditors etc. The gravy train for the 'consultants' was merrily puffing away.

Previously a profit was a profit and the Govt could demand whatever 'dividend payment they wanted (and they sure did).

Similar situation with Q. They arbitraged the change from non-taxable to taxable (with the float) and tax-effectively funded their fleet renewal exercise pre-float so the tax-payer was effectively subsidizing them for up to 15 years (I saw some of the leases bandied around). Interesting if you track the run-off of these planes (B767s and B747s) and recent events/profitability. Strip out this long term tax arbitrage and Q's cupboard would have looked even barer. Perhaps that was why there was the blatant cost shifting from JQ to Q.

 

[amaroo]

...<snip>...


Ah bugger it, let's sell it off and have any profits go into the pockets of a few.

Isn't that the same outcome for a great big chunk of consolidated revenue...

 

[whatmeworry]

From the 2013 annual report.....

View attachment 35390

Doesn't make sense to sell such a highly profitable company.

 

[Pushka]

If you need the money there's not a lot of options unless you raise more taxes. Or cut spending. But then you have to deal with Pups.

 

[JessicaTam]

More than happy to offer a 10% sling to whoever can help me out of this pickle!

I would be happy with 10% - rounded up to the nearest US$1,000 of course.

 

[amaroo]

Doesn't make sense to sell such a highly profitable company.

Depends on your point of view ... although someone needs to tell the SMH the Coalition doesn't actual own the thing....

Coalition could make $5.7 billion from Medibank Private sale

 

[JohnK]

From the 2013 annual report.....

View attachment 35390

So they are now a profitable organisation.

Still don't understand the need to sell. Sounds like CBA, SYD airport etc all over again.