Grattan Institute. Property Council of Australia - Property Council Appoints Ken Morrison as New CEO. After an extensive search process, the Property Council has appointed Ken Morrison to head up the nation’s leading property investment advocacy body.
Morrison, who is currently CEO of the Tourism and Transport Forum, was previously the Property Council’s Chief Operating Officer and Executive Director of the organisation’s NSW Division. “I’m delighted to announce Mr Morrison’s appointment as CEO,” said Property Council National President, Darren Steinberg. “Mr Morrison possesses a wealth of advocacy experience along with a deep understanding of the opportunities and challenges facing the property industry.”
“Mr Morrison also brings unique skills in industry policy-making and political engagement as well as an impressive track record in delivering member value,” Steinberg said. Ken Morrison was Executive Director of the Property Council’s NSW Division between 2002 and 2010. “The property and construction industries account for 1.3 million jobs and 11.5 per cent of annual GDP,” said Steinberg. John Daley (@JohnDaley_) Grattan Institute. CBA's Harrison Young says damaged reputations risk shareholder value. Most banks manage risk pretty well so long as they stick to products and customers they know well.
Photo: Glenn Hunt Full coverage: Banking & Wealth Summit Commonwealth Bank of Australia board member Harrison Young has spoken out about the potential destruction of shareholder value if the banking industry does not demonstrate how it is taking customer complaints seriously and improve its risk culture. 811-super-sting. Chant West. DAY2 Live: Peter Costello, Wayne Byres, Josh Frydenberg at the Financial Review Banking & Wealth Summit. When Genius Failed: The Rise and Fall of Long-Term Capital Management: Roger Lowenstein: 9780375758256: Amazon.com: Books. DAY1 Live: Glenn Stevens, David Murray, Ian Narev at the Financial Review Banking & Wealth Summit. Ten Types of Innovation: The Discipline of Building Breakthroughs eBook: Larry Keeley, Helen Walters, Ryan Pikkel, Brian Quinn: Amazon.com.au: Kindle Store.
With regard to the Edison quotation, I agree while presuming to add, "Execution without discipline is merely activity.
" Larry Keeley wrote this book with Ryan Pikkel, Brian Quinn, and Helen Walters. "As the principal author of the text, I am responsible for the basic arguments throughout, and the system of ideas here either succeeds or fails because of me. " However, as explains in the Preface, it really is the result of a team effort. CBA's Harrison Young says damaged reputations risk shareholder value. By Sally Rose Full coverage: Banking & Wealth Summit Commonwealth Bank of Australia board member Harrison Young has spoken out about the potential destruction of shareholder value if the banking industry does not demonstrate how it is taking customer complaints seriously and improve its risk culture.
"Banks need to create value for shareholders, but the whole thing breaks down if there is a perception you are screwing your clients," Mr Young said. Building a risk model that accurately predicts the chain reactions of reputational damage is impossible, he warned. Sydney home prices are growing five-times faster than wages. Don't count on a wage increase putting that Sydney home within reach.
Home prices in Australia's biggest city have surged more than five-times faster than wages in each of the past two years, adding to fears of a housing bubble. Wages in New South Wales state, where 60 per cent of the population resides in Sydney, climbed 2.5 per cent in 2013 and 2.4 per cent in 2014, compared to gains of 12.4 per cent and 14.5 per cent respectively for homes in the nation's most populous city and financial hub, according to government and CoreLogic data compiled by Bloomberg. Sydney house and apartment prices have soared 40 per cent from their May 2012 trough to a record, forcing regulators to call on banks to strengthen lending standards and warn of the potential for values to drop.
Banking's digital disruptors need tougher regulations, says Commonwealth's Bank's Ian Narev. Commonwealth Bank chief executive Ian Narev says the growing number of technology-based rivals to banks should also be subject to regulations to protect customers and the financial system from economic shocks.
In a speech on innovation given at the Financial Review Banking and Wealth Summit on Tuesday, Mr Narev said the wave of digital financial services businesses setting up as rivals to banks was delivering big benefits for customers. But he said there was also a need for a debate about the risks these firms could also pose to customers and the financial system. Specifically, he highlighted the importance of liquidity management, which refers to the way a financial institution balances its obligations to depositors with its commitments to long-term borrowers. Mr Narev said the wave of rivals to banks must be able to handle "liquidity events," and not just be judged by the current benign economic circumstances. Risk awareness. CBA's Ian Narev ahead of the pack on digital disruption. Loaded: 0% Progress: 0% CBA's Narev warns of crowdfunding risk.
Harvesting-the-opportunities-from-financial-innovation-how-can-asic-help-you-speech-28-april-2015.pdf. David Murray says banks would be hit by AAA credit downgrade. Full coverage: Banking & Wealth Summit Financial system inquiry chairman David Murray says the federal government could lose its prized AAA credit rating, and the downgrade would hit all the large banks.
Mr Murray, speaking before giving a keynote speech to The Australian Financial Review's Banking and Wealth Summit on Tuesday, said the deterioration in the federal budget increased the urgency for banks to set aside extra capital to protect themselves during a foreign funding crisis. The warning was amplified by Deutsche Bank, which said Australia was headed for 15 years of budget deficits and the government's debt was likely to go close to the level that could trigger a credit rating cut. More Was Less and Less and Less. Error Page. †Introductory offers to be billed 4 weekly as per the following - The Australian Digital Subscription $3 per week, $12 billed 4 weekly; The Australian Digital Subscription + weekend paper delivery $3 per week, $12 billed 4 weekly; The Australian Digital Subscription + 6 day paper delivery $6 per week, $24 billed 4 weekly.
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Speech775.pdf. David Murray backs regional banks as capital war rages. David Murray has rejected the big banks' criticism of his inquiry.
Photo: Christopher Pearce Full coverage: Banking & Wealth Summit David Murray has backed the regional banks over the majors in the war which has erupted over key recommendations of his financial system inquiry on how to enhance competition and make banks more resilient to external shocks. New rules only lower bank risk in theory. A world of cheap money: Six years of low interest rates in search of some growth. NEVER in recent economic history have interest rates been so low for so many for so long. It is a safe bet that central banks in America, Britain, the euro zone, Japan and Switzerland will not be increasing short-term interest rates this year.
Live: Glenn Stevens, David Murray, Ian Narev at the Financial Review Banking & Wealth Summit. 10.11am: The CBA chief wants the bank to be able to experiment with ideas and systems, building up systems, sometimes discarding them. But that will create challenges, including for regulators. Sydney property prices almost 10 times income - REB. Australia’s five major metropolitan areas have been “severely unaffordable” for 11 consecutive years, according to a new report.
The 11th Annual Demographia International Housing Affordability Survey used the ‘median multiple’ – a price-to-income multiple method for calculating housing affordability – to assess housing affordability in 378 metropolitan markets in nine countries including Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United Kingdom and the United States.
Historically, the median multiple has been remarkably similar in Australia, Canada, Ireland, New Zealand, the United Kingdom and the United States, with median house prices from 2.0 to 3.0 times median household incomes, according to the report. House prices ‘flash red’ as debt to income ratio hits record high. By Affordability Christopher Joye Australian household debt has hit a record 177 per cent of annual disposable income while housing valuations are “flashing red", according to Barclays’ chief economist . 2014 Demographia Housing Affordability Survey. By Leith van Onselen The 10th Annual Demographia International Housing Affordability Survey has just been released and, once again, it ranks Australia as having one of the most expensive housing markets out of the countries surveyed. This year’s report assesses 360 urban markets in nine countries: Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, United Kingdom, and the United States.
The survey employs the “Median Multiple” (median house price divided by gross annual median household income) to rate housing affordability. There’s No Such Thing as Corporate DNA. Time and again, business executives, consultants, and academics have searched for drivers of sustainable success. In Boost for Left Wing, Stollmann Won't Take Economics Portfolio - Free-Marketeer Quits Schroeder's Team. The Incredible Story Of A Millionaire Entrepreneur's Journey From Politics To Shipwreck To Business In Sydney. Jost Stollmann (@joststollmann) Contact.