It seems in New Zealand that we’re quick to admonish corporates that run high profits and seemingly provide bad service. The excoriation that has been levelled on our telcos of late has been a good example of this.

One cannot help but think that much of this criticism is politically motivated (it is after all an election year – and headlines of “foreign owned corporate milks massive profits and provides dodgy service” really get grey-power all fired up and give Winston Peters a few more votes).

Why then the total silence around the super normal profits, offshore ownership and almost total lack of service that we get from our banks? Recent profit reports have been pretty fat but the conspiracists among the political parties have remained silent about them – I wonder why?

Anyone got any answers?

Ben Kepes

Ben Kepes is a technology evangelist, an investor, a commentator and a business adviser. Ben covers the convergence of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users.

  • hmm thats a good question.

    I wonder why nobody ever really questions why the (foreign owned) banks reap such huge profits, whilst putting Telecom and Vodafone under such intense scruity.

    Maybe it cos they’re now considered to perform an essential function in the “nation’s” economy, but nobody seems to consider WHY they’re so crucial. ie being given a dejure monopoly on the creation and circulation of “capital” through the economy by government decree.

  • Absolutely!

    That’s a discussion we’ll all be having in greater depth shortly 🙂

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