This is what happenned when I went to the CBA AGM today. I guess CBA would rather not talk about Project Magellen. I thought it was pretty heavy handed. What are they trying to hide? Protester crash-tackled CBA annual meeting PUBLISHED: 0 HOUR 54 MINUTE AGO | UPDATE: 0 HOUR 0 MINUTE AGO SHARE LINKS:email GEORGE LIONDIS A protester was crash tackled by security at the Commonwealth Bank of Australia annual general meeting as he tried to hand chief executive Ian Narev a coffin-shaped flyer. Ross Waraker, a member of the Unhappy Banking group that was set up to rally against CBA subsidiary Bankwest, was protesting against the bank's treatment of iconic live music venue the Sandringham Hotel in Sydney. "My intent was to hand up a coffin shaped logo that symbolises the human toll of this matter," Mr Waraker told The Australian Financial Review after the AGM on Tuesday. "I just stood up and got crash tackled - I learnt that peaceful advocacy is not welcome here." The Sandringham Hotel in Newtown has been a mainstay of the live music scene in Sydney for decades but fell into liquidation in July. Its owners claim they were hit with penalty interest by CBA-owned Bankwest that increased their monthly repayments from $16,000 to $48,000, even though they had never previously missed a repayment. Other Bankwest customers who claim they suffered similar treatment as the Sandringham Hotel are planning a class action against the bank. A senate committee that looked into Bankwest's practices was due to release its findings on Thursday but the report has been delayed until November 28. Mr Waraker's flyer said CBA was hurting customers, staff and communities. "Advocating against the most powerful business in Australia is difficult and today was our only opportunity to get into this rare bubble that they exist in and make a symbolic gesture. I never for a moment expected a peaceful action would have ended in commando style tackle," he said. Mr Narev said he was unaware of the nature of the protest. "We have got a whole lot of different stakeholders and we can't please all of the people all of the time. And therefore at any given time there are a number of people with a gripe," he said. Geoff Shannon, the founder of the Unhappy Banking protest group, who was also at the CBA AGM, called for a Royal Commission into the issue. "Ian Narev talks about long-term vision. But they are just taking down businesses that were there for the long term," he said.
From the SMG market live feed. 3.10pm: More on the protester that was tackled to the ground and escorted out of the Commonwealth Bank's AGM: The protester who was taken out by security guards was from a group called Unhappy Banking, reports BusinessDay's Gareth Hutchens. The group represents Bankwest customers who say the bank forced them to default on their loans in 2008 forcing many out of business - by charging unconscionable penalty fees to push them over the edge. They say this happened after Bankwest was taken over by Commonwealth Bank, for $2.1 billion, when its owner at the time, HBOS, was struggling during the financial crisis. Both banks have strenuously denied the group's claims. The protester, Ross Waraker, said he was trying to stand up to make a "small, brief, symbolic, peaceful protest." "I was going to hold one of these signs up, and the next minute I got crash tackled," he said. Mr Waraker said he was going to hold up a foam sign cut into the shape of a coffin, with the Commonwealth Bank logo attached to it. He said it carried the words: "RIP 1000 businesses. Project Magellan. CBA hurting their communities, staff and customers." Project Magellan was the name of the bank's controversial wide-sweeping audit program that re-valued the loans of more than 1000 of its business clients.
Come on - if you expect in today's security conscious age to be able to walk up to a public figure and thrust a package in their face without being taken down by security - you're a moron! malachii
Think of the desparation the man had to do such a thing rather than the act itself. Put yourself in their shoes.......?
No, I'm with Malachii on this one. I'm not saying he's wrong to protest. Just it was silly to expect he was going to take the stage. We've seen enough precedents of this from large company AGM's (eg Telstra, Rio Tinto, News Ltd.) and Community Cabinets to know it (protest) was never going to be accepted by the organisers or the attendees. I bet there were a dozen other shareholder advocates in that auditorium with gripes waiting to be heard on the organised agenda. If we had to wait for every crackpot with axe to grind, we'd be there forever.
Crackpot? Why does someone who protests need to be a crackpot? Is it becasue he had a coffin shaped sign?
Yes it's the sign. And often you can pick them by their headgear. There's a saying in the security industry that goes "'Crazy' wears a hat". and also, for the record; 'stupid' wears a helmet :lol:
Not saying he didn't have a legit gripe. Just saying he was silly to not expect the reaction he got. malachii
If you have been taken to the cleaners by the big banks then your frustrations must surely crack you in the end. You and all the other customers get together for a class action and then when the media gets hold of the story, damage control takes over for both the government and the bank. Form a Committee or Inquiry and put the issue to sleep for a few years before the inquiry gives it's finding. In the mean time the bank can easily fend off any quires by saying NO COMMENT as the matter is under investigation or just don't do interviews on the subject at hand. Financial justice is a dirty world in todays business world when it comes to big business. They hire the best accountants and lawyers and if they loose it is a small bump in the road but if the Individual looses, then into the valley of despair you go for you it is the end of the road. Small business people are the salt of the earth but the Corporations big wigs, well thats another story. Governments need to promote a level playing field for everyone and not just pander to the ones that give them the fiat to stay in power. Give to each major party and you are on a sure winner! if you are in big business. If they answered questions put to them then maybe there would be no protesters! Regards Errol 43
I think we are talking about desperate people here, in desperate situations. I just watched Parts 1 and 2 of the BankWest Senate Enquiry clips on YouTube, and to say I am appalled at the treatment of these people is an understatement.
Ever since AA started these threads I've been gobsmacked by the sheer number of cases. Not limited to one bad apple in one branch/region but spread right across the country with a variety of twists in each case. In terms of how small a world it is, a few weeks ago I forwarded on some of AA's links and quotes to about a dozen people in my address book and one person came back saying one of his long time friends had had his farms stolen through the Bankwest/CBA crimes and was in the process of building his court case. In the meantime the administrators know f*** all about looking after livestock and were trying to force certain activities that (if they hadn't been stopped) would have been worse than the Indonesian cattle welfare debacle. Sadly, I fail to see what proper compensation the inquiry or courts can possibly obtain once most of the assets have been bled dry or on sold. Especially given the massive delay tactics that CBA can and will continue to do.
Thankyou to all those who posted. Its interesting to hear the range of opinions. I actually met the protester afterwards (Just needed to shake his hand and say "love ya work"). His friend is currently being done over by CBA/Bankwest and couldnt make it as he is busy with lawyers and trying to make a 'new' living. So the protester was standing up for his mate. What could be more Australian than that, he certainly wasn't a nutter. He was actually an academic. Ironally the protestors message was that the CBA are a bully bank who bully victims into bankruptcy and depression till they can't fight bank any more, then issue false media statements to make the victims look like deadbeats or crackpots. CBAs response to this was to get security to rough him up and then Ian Narev made a press statement saying the protester is just some nutter with a gripe.... point made, don't you think? Too Big to Prosecute Pt6 shows how CBA have carefully and intentionally cut off all avenues of redress for victims so that the only option is to risk getting bashed protesting at the AGM.
Here is a photo of the "offensive paraphanaylia" (as the police called it), that the 'protestor' (who was actually a share holder) was going to bank to the board. http://www.facebook.com/photo.php?f...6666183.-2207520000.1351838435&type=3&theater
and what does 'dangerous' wear? Oh, that's right, 'dangerous' is so rare as to be practically non-existant, so to justify our overbearing, rayban wearing, collar-mic talking existance, we'll beat up 'crazy' instead. BTW clawhammer, this is not a personal dig at you. Your post just came in handy for making the point.
