
Issue No 69		01 September 2000

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News

New Benchmark In Bank Greed

Thousands of Commonwealth Bank staff and supporters marched to Martin Place today taking their fight against individual contracts, and for decent staffing levels and a fair pay rise to company head office.


	FSU Secretary, Peter Presdee, Addresses Bank Worker Rally

Commonwealth staff throughout the country stopped work and stepped up the campaign against management's attempts to deunionise the bank.

Earlier this week Commonwealth Chief Executive David Murray, who picked up a $1.9 million dollar paycheck last year, said the bank 'could not afford' the FSU's pay claim of 13 per cent over two years in a collective agreement. Instead the Bank has played the Reith card and offered individual contracts to all of its 28,000 employees.

The former People's Bank, this week posted a massive $1.7 billion profit.

FSU Commonwealth Bank Officers(NSW) Secretary Peter Presdee says People Power has been revived at the Commonwealth Bank.

'From here it is up to the bank. From next week they should calm down and come back and negotiate with us,' he says. 'If not there will be an industrial and public campaign.'

'We will be taking this to the mums and dads of Australia. There is enormous support from the public. When we walking down the street today everyone was clapping. People know that the Commonwealth Bank needs to change.

The trade union movement has thrown its weight behind the campaign.

Secretary Michael Costa pledges the support of the Labor Council of NSW

'It's a threshold issue. Like the MUA dispute the union movement will lock in behind it. This is a strategy to break the union,' he says.

The ACTU President Sharan Burrow says the bank's record profit was clear proof that the bank could afford to treat its customers and staff better.

"What staff at the Commonwealth Bank must be asking themselves today, is how much profit does this bank have to make before staff and customers are given a fair go?" she says.

"Surely after posting a $1.7 billion profit this bank can afford to deal with the legitimate issues of its staff."

Sharran Burrow says Commonwealth staff won't be standing alone.

"Australian unions, and I think the broader community, will be throwing its support behind bank staff," she said.

The Commonwealth Bank has cut 600 branches and 8,000 staff since 1990.

Meanwhile...

Acting Australian Banker's Association Chief Executive Jeff Oughton told the joint parliamentary inquiry into fees last week that Australian banks do not have a social obligation to their customers. When a very stunned senator asked if Mr Oughton agreed with John Howard that banks accept social responsibility he responded with a succinct 'no'. Instead he raved about the good citizenship of banks, referring to donations to charities and the banks' involvement in community programs. No reference was made to their obligation to the people of Australia.

Vote in poll

The Sydney Morning Herald is running a poll on their internet site - asking people to vote on whether they prefer individual contacts rather than collective agreements.

You may be interested in registering your opinion visit the site and vote: http://www.smh.com.au

View entire issue - print all of the articles!

Issue 69 contents

Interview: Global Warrior
International unions have won a game of political football with soccer`s hierarchy - and Aussie Tim Noonan is behind the victory.

History: King of Broken Hill
John Shields recounts the colourful life of William Sydney 'Shorty' O'Neil (1903-2000) and his place in the rich history of a remarkable town.

International: History Repeats At Firestone
More than 8,000 workers, members of the United Steelworkers of America (USWA), are set to strike at nine Bridgestone/Firestone plants in the United States at midnight tonight.

Politics: The Past We Need To Understand
In his Vincent Lingiari Memorial Lecture Malcolm Fraser retraces the path of Australian race relations and laments the terrible impasse we've reached.

Unions: Economic Democracy
Sharan Burrow on making Working Australia's money talk and reforming corporate culture for the 21st Century.

Satire: Another windscreen washer joins millionaire list
SYDNEY, Monday: After just a year in his new job, John Samuels has added his name to the burgeoning list of enterprising Australians who have made their fortunes by offering partial car-washing facilities in convenient inner city road-side locations.

Review: No Long Term
Much political commentary is about the global marketplace and the use of new technologies as hallmarks of the new capitalism. Richard Sennett investigates another dimension of change: new ways of organising time, particularly working time.

» New Benchmark In Bank Greed

» Olympics Deal Sparks Soccer Ball Victory

» Two Day Strike Hits BHP Mines

» Leightons, SOCOG Tremble Before Haka

» Hilton Hotels Limp As Strike Bites

» Wran Lends Boffins A Hand

» ACTU Meets Joy

» Barracks Workers Put The Pinch On Local MP

» Olympic Win For Taxi Drivers

» Australian Unions Keep Spotlight on Fiji

» Staff Eye Telstra Prize

» Dice Loaded Against American Workers

» NZ Union Federations Heal Split

» Pressure Mounts On Nike To Live Olympic Ideal