Daily Bulletin

The Conversation

  • Written by The Conversation Contributor

Former ACCC chairman Professor Allan Fels says a “concerted campaign” has been waged by franchisees of 7Eleven against underpaid workers to prevent them seeking compensation.

And he has spoken of the need for Australia’s banks to follow the example of the United Kingdom and structurally separate commercial activities from its lending and deposit taking operations, as calls for a royal commission into the sector continues.

Professor Fels was speaking at the Melbourne Press Club with Fairfax Media investigative journalist Adele Ferguson - whose reporting helped reveal systematic underpayment by 7Eleven and misconduct in the financial planning arm of the Commonwealth Bank - and CBA whistleblower Jeff Morris.

Prof Fels, a Professorial Fellow for the University of Melbourne, headed an independent panel that examined the underpayment of 7Eleven workers after a joint Fairfax/ABC investigation. He said 2000 claims were actively being processed, with 343 claims being paid $12 million, an average of $35,000 per claim.

He said there was a “very strong campaign by franchisees to deter them” and that there needs to be shared liability forcompensation between franchisers and franchisees:

Professor Allan Fels speaks about 7eleven. The Conversation, CC BY2.93 MB (download)

Prof Fels says in the banking sector there are some “deep conflicts of interests” that have been exacerbated by the need to prop up “too big to fail” banks. Conflicts had been intensified by banks expanding into funds management, an area which the Vickers Report in the UK recommended be separate from the traditional deposit taking activities of banks:

Professor Fels comments on banking culture. The Conversation, CC BY2.53 MB (download)

“My message to the bank would be get a lot more serious about compliance, ethics and a pro-consumer culture or basic questions will come up”.

The event focused on the role of whistleblowers in exposing corporate corruption and also heard from consumer advocate Michael Fraser.

Authors: The Conversation Contributor

Read more http://theconversation.com/allan-fels-7eleven-franchisees-waging-campaign-to-block-workers-compo-audio-57819

INTERWEBS DIGITAL AGENCY

The Conversation

Politics

Prime Minister - Interview with Alan Jones, 2GB

JONES: Prime Minister good morning, thank you for your time.   PRIME MINISTER: Morning Alan.   JONES: Heavens above, have you had a sleep?    PRIME MINISTER: I got one last night. But now I’...

Alan Jones - avatar Alan Jones

NATIONAL COVID-19 COORDINATION COMMISSION

Today I announce the creation of a new National COVID-19 Coordination Commission (NCCC) that will coordinate advice to the Australian Government on actions to anticipate and mitigate the economic ...

Scott Morrison - avatar Scott Morrison

Prime Minister's interview with Alan Jones

ALAN JONES: Prime Minister, good morning.    PRIME MINISTER: Good morning, Alan.   JONES: Prime Minister, there are lots of ups and downs in your job, but you couldn't be anything but disappointed...

Scott Morrison and Alan Jones - avatar Scott Morrison and Alan Jones

Business News

Pluralsight Encourages Technology Learners to Stay Home, Stay Safe, and Skill Up

Pluralsight, Inc. (NASDAQ: PS), the enterprise technology skills platform, today announced that in an effort to encourage technology learners around the world to stay safe and stay home, the compan...

Hotwire Global - avatar Hotwire Global

When do you need a follow-up email?

At some point in our lives, chances are we have followed-up on something or the other. This same idea extends to the space of email marketing, whether it is for a sales email or a job opportunity. Gi...

News Company - avatar News Company

5 Reasons Businesses Need An Excellent Content Marketer

First off what is a content marketer? Well, a content marketer is somebody responsible for the constant creation of visual, video, and written content for your brand. They should be somebody that ha...

Jake Patterson - avatar Jake Patterson

ShowPo



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion