Turnbull - transparent as a terd.
http://www.malcolmturnbull.com.au/media/Australia-Post
Sam 2014.
Minister Turnbull talks a lot about transparency or some lack of it. Here are some transparent truths.
The last increase in the BPR stamp from 60c to 70c or 16.6% has in real terms added 5-7% income to LPO's.
The Senate Inquiry into Aust Post found LPO's underpaid by 33-40%, $966million over the last 5 financial years dividend paid to the Gov, where is the transparency?
Rural Sustainability Package RSP has been sold in the media as adding $40million to the LPO's payments, in real terms the increase is no more than $2million over 1500 rural LPO's, where is the transparency?
Aust Post has acquired 100% of the Startrack business and is in the process of removing parcels from the LPO network wherever possible, "if the profitable parcels business were to be spun off who is left to pick up the tab for the retail network and the declining letters business?" where is the transparency?
"To its credit Australia Post has established a digital mailbox business. They recognise that it will never have the scale in revenues or traffic, let alone profitability of the monopoly letters business of old" even if the losses in excess of $700million for the digital mailbox project are totally worth it, where is the transparency?
$90million spent on concession stamp project administration to benefit 5.7million concession card holders to share $2.85million in stamp savings, where is the transparency?
"Sometimes this includes the added folly of refusing to participate in the cannibalisation of your own legacy business" this may be a strategy used in business but Aust Post is also a franchisor and this is a certain death for a franchisee, where is the transparency?
Can the Minister explain why Aust Post would spend $100million for a new state of the art stamp factory with "Australia Post has moved its stamp factory from Knoxfield and built a one-of-a-kind brand new building in Rowville which will provide extra space for production and support future growth." when there is a declining letters business? Where is the transparency?
The last increase in the BPR stamp from 60c to 70c or 16.6% has in real terms added 5-7% income to LPO's.
The Senate Inquiry into Aust Post found LPO's underpaid by 33-40%, $966million over the last 5 financial years dividend paid to the Gov, where is the transparency?
Rural Sustainability Package RSP has been sold in the media as adding $40million to the LPO's payments, in real terms the increase is no more than $2million over 1500 rural LPO's, where is the transparency?
Aust Post has acquired 100% of the Startrack business and is in the process of removing parcels from the LPO network wherever possible, "if the profitable parcels business were to be spun off who is left to pick up the tab for the retail network and the declining letters business?" where is the transparency?
"To its credit Australia Post has established a digital mailbox business. They recognise that it will never have the scale in revenues or traffic, let alone profitability of the monopoly letters business of old" even if the losses in excess of $700million for the digital mailbox project are totally worth it, where is the transparency?
$90million spent on concession stamp project administration to benefit 5.7million concession card holders to share $2.85million in stamp savings, where is the transparency?
"Sometimes this includes the added folly of refusing to participate in the cannibalisation of your own legacy business" this may be a strategy used in business but Aust Post is also a franchisor and this is a certain death for a franchisee, where is the transparency?
Can the Minister explain why Aust Post would spend $100million for a new state of the art stamp factory with "Australia Post has moved its stamp factory from Knoxfield and built a one-of-a-kind brand new building in Rowville which will provide extra space for production and support future growth." when there is a declining letters business? Where is the transparency?
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