You've reached our premium or archival content
To access this page, and more great content just like it, you need to become a paid subscriber.
If you already have an account, please login.
Otherwise, registration is quick and you'll have access instantly after payment.
When I was listening to 2GB last night, 12-12-2019 at about 1900, I was sorry to hear him announce that he was leaving 2GB.
His show was not about the theoretical issues of economics such as supply and demand curves and economic theory presented at university.
Rather his show was about the economic impact in our lives of current affairs, politics, the law, economics in general, the goings on in the sharemarket , the decisions of top level management and its board of directors ('BOD').
Currently, one of the big economic and legal issues of the day is Westpac's requirement as a reporting entity under the Austrac Act not complying with the requirement to report over 23 million transactions over the value of $10 thousand to the Austrac agency.
Ross's program clearly described the hostile relationship between Westpac's shareholders and the BOD in respect to ethics and the impact of dividends. There was also the issue of the relationship between Westpac and its auditor in regards to putting these 23 million transctions to prominence.
Ross put to notice to his listeners the lack of detail of the magnitude of the failure to report the 23 million transactions in Westpac's annual report.
Sources:
pages 17, 105, 257, https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/2019_Westpac_Group_Annual_Report.pdf
https://www.austrac.gov.au/about-us/austrac-overview
https://www.smh.com.au/business/banking-and-finance/westpac-should-have-seen-the-money-laundering-scandal-coming-20191125-p53dxq.html
Ross's program will be missed and commercial radio will be at a loss,
Thank you,
Anthony of exciting Belfield