Article: Australian houses 'world's least affordable'

Australian houses 'world's least affordable'
By Stuart Fagg, ninemsn Money

Australia has the least affordable houses in the world, according to a ranking of international housing markets.

From a total of 23 Australian regions included in Demographia's Sixth International Housing Affordability Survey, 22 were labelled severely unaffordable and Australia scored the worst housing affordability rating in the world, followed by Canada.

Demographia calculated the ratings by diving median house prices by annual median household income and named Vancouver as the least affordable market in the world.

Sydney was ranked second, with the Sunshine Coast, Darwin and the Gold Coast rounding out the top five.

Melbourne and Wollongong also made the top ten, coming in at eigth and tenth respectively.

In Sydney, nearly 57 percent of the average income is needed to pay the mortgage on the average house, compared to just 13.4 percent in Dallas, Texas, one of the most affordable major city housing markets in the world.

The average dwelling price in Sydney rose 11.6 percent last year to $475,000, just above the national average of $439,000, according to RP Data.

Experts said housing affordability is being eroded by a lack of supply.

"Residential land release in Sydney has been reduced from an historic average of 10,000 lots per year to less than 2,000 in 2007," said Dr Tony Recsei in the preface to Demographia’s report.

"In the face of the scarcity resulting from such a miserly allotment it is unsurprising that the land component of the price of a dwelling has increased from 30 percent to 70 percent. The result has been a cost increase of some three times what it was a mere ten years ago."

Demograophia added that land release and planning issues are making the situation worse.

"In Australia, there is consensus in both the government and the private sector that there is a severe housing crisis, with rampant unaffordability and a housing shortage," the report said.

"It takes from 6.25 to 14.5 years to convert urban fringe land into new houses, which compares to less than 1.5 years before urban consolidation, and which remains the case in the 'demand-driven' (more responsive) markets in the United States."

Demographia urged governments to free up land use rules in order to ease affordability problems without causing a housing market crash.

"The restoration of near historic housing affordability in some markets provides an opportunity to repeal more prescriptive land regulation policies, which would not only minimise the potential for future busts, but would also ensure housing affordability for future generations," the report said.

Article - Long-term health risk tied to computer use

I already know a bit about the issues that a sedentary lifestyle brings. So when I bumped into the article below a few weeks ago, it served as an ominous reminder. And yeah, I can definitely see problems for myself down the track :P

Long-term health risk tied to computer use
12:30 AEST Wed Dec 9 2009
By Henri Paget, ninemsn

Workers who spent long hours in front of a computer screen over the past decade may suffer serious long-term health problems, experts say.

Weak muscles, sore eyes and depression are just some of the symptoms associated with what has been labelled the "dark age" of computing.

"People have spent a decade chained to their chair, chained to their keyboard, chained to their mouse," Curtin University's Leon Straker said.

"Human bodies weren't meant to be sedentary like that ... people are simply not as active as the older generation."

Professor Straker, who specialises in the effects of computer use on physical health, said some workers will face muscle and bone problems earlier in life than in previous generations due to prolonged computer use.

"Sitting in front of a computer increases stress around the neck and shoulder area," he said.

"In the future it is likely there will be more people with poorer, slumped posture, as well as weaker back muscles and lower bone density."

People who spend long, uninterrupted periods staring at computer screens should also be wary of sore or tired eyes and blurry vision, said visual ergonomics specialist Jennifer Long.

The mental health effects of long-term computer use are not well established, but some studies have linked it to depression.

Research from Sweden in 2007 found that online chatting, SMS use and emailing were related to increased levels of stress and depression.

In Australia, Deakin University PhD student Megan Teychenne has examined links between depression and computer use among women.

Her research shows that women reporting more than 21.5 hours of computer use per week had a higher rate of depression.

"However, we weren't able to determine whether it was because women became depressed using computers or whether women who are already depressed use computers more," she said.

Health experts say workers should take every opportunity to step away from the computer screen, preferably once every half hour.

Alcohol & chocolate - great combination!

After Christmas lunch, I managed to remind myself again that alcohol & chocolate makes a great combination. And no, I am not talking about liqueur chocolate either. What I am talking about is taking some alcohol & chocolate, putting it in your mouth at the same time, enjoying the taste of both together, then gulping everything down.

More specifically, what I had after Christmas lunch were some Orlando Trilogy sparking rose wine & Lindt chocolate. I put the Lindt in my mouth & chew for a bit. While still chewing, I took a sip of the Orlando Trilogy wine (which on its own has a mild & balanced taste) & enjoyed the alcohol & chocolate combination. It was superb. The Orlando rose wine tasted even better with the Lindt. Or was it a case of the Lindt tasting better with the Orlando rose wine??? Ooohhhh well, let's just say I enjoyed the combination.

That wasn't the first time I combined alcohol & chocolate at the same time. A long time ago, I had Heineken beer & a Ferrero Rocher chocolate. I put the Ferrero Rocher in my mouth, then gulped down some Heineken & then chewed on the chocolate while the beer was also in my mouth. It was superb.

Alcohol & chocolate....I must do this again sometime!

Boxing Day shopping - not all that great

So I went out to Boxing Day sales today, at the Indooroopilly Shopping Centre. The sales seem to get worse over the years (though this time last year, I was in Malaysia so I can't comment on how good or bad the Boxing Day sales were in Brisbane last year). I was at Myer, & I didn't see any earth-shattering bargains to get excited about. In fact, I'm not certain if anything I saw can be classified as bargains. So I hardly bought anything from there this year.

I, did, however, manage to bump into church friend Chris Ooi at JB Hi-Fi, just across the road from Indooroopilly Shopping Centre. I was scouring through the DVDs & CDs when I looked around & saw a grinning Chris. I was in "dream mode" at the time, so it took me 1-2 seconds to realise who he was. He was there looking for a giant LCD TV (or did he say plasma?). We chat for a while, before he moved on to look at the selection of TVs on offer, while I left with some Seinfeld DVDs which I partly paid with a JB Hi-Fi gift card that I got for Christmas.

Apart from that, nothing really to get all excited about. Hopefully the sales will be better next year.

See through tyres

This was emailed to me a few months ago. Interesting concept, but the types don't look great & it will most probably be very expensive.


*********************************

Radical new tyre design by Michelin. The next generation of tyres. They had a pair at the Philadelphia car show.


These tyres are airless and are scheduled to be out on the market very soon.. The bad news for law enforcement is that spike strips will not work on these tyres..

This is what great R& D will do, and just think of the impact on existing technology:

A. no more air valves...
B. no more air compressors at gas stations...
C. no more repair kits...
D. no more flats...

SCAN DOWN & SEE

These are actual pictures taken in the South Carolina plant of Michelin.

Amazing pictures - hippos kill crocodile

Amazing pictures captured by the Czech photographer - great job.

Moral of the story: Don't mess with hippos. Not even if u are a giant crocodile.

Crocodiles are normally fearsome & would probably be considered the most feared reptile. But this particular crocodile in the pictures looked like a puny lizard compared to those hippos & seemed so helpless especially after getting bitten. You got to feel sorry it. Why did it not stay well clear of the hippos?

Article from Daily Mail:


Oops, they weren't logs after all: The moment a crocodile was killed after taking a foolish shortcut across a herd of hippos

Their bone-crushing jaws, 24 razor-sharp teeth and armour-plated skin are enough to ensure most animals keep their distance. But, as our incredible pictures show, even crocodiles are no match for a herd of angry hippos.

This young reptilian predator paid the price for swimming too close to a mother and her calves while they bathed.

As 50 hippos gathered into a defensive circle around them, the crocodile panicked and raced over their backs in a bid to escape.

It was the last mistake he ever made. The beast's defences were no match for the maze of angry mammals, who proved their bite is every bit as lethal as his.

The spectacularly rare battle of the beasts was captured by Czech wildlife photographer Vaclav Silha.

He had set up his camera on the banks of the River Mara in the Serengeti national park, Tanzania, when the unbelievable scene unfolded before him.

But the 45-year-old got more than he bargained for when a colossal fight broke out between the group and a sneaky crocodile he had spotted earlier.

‘Mutual respect between these animals means fights occur very rarely,’ he said. ‘One of the only reasons you might see a conflict is if the hippos have young and they think the little ones are under threat. That’s exactly what happened here.

‘The incautious croc got too close to a female who had calves and the whole group gathered into a defensive circle around them. It was a strong message for the crook to clear off.

‘I have absolutely no idea why but the crocodile suddenly raced across the backs of the hippos. I think it might have panicked and thought it was a possible escape route. I couldn’t believe my eyes.

‘It was the worst choice the reptile could ever have made and it was definitely its last.

‘The island of hippos suddenly erupted with teeth and all I could see was the crocodile being repeatedly crushed in their huge mouths.’

Described as one of the most aggressive creatures in the animal kingdom, an adult hippo can apply several tons of pressure in a single bite.

‘Even the toughest crocodile could not have withstood being repeatedly bitten like that,’ said Mr Silha, from Prague.

‘There was no way for him to escape. I few seconds later his lifeless body slipped below the water and I didn’t see him again.’

One of these pictures was originally published in the November issue of BBC Wildlife Magazine.

Bold move: The crocodile races across the backs of the hippos in a bid to escape after trying to snare a mother and her calves

Making a splash: The crocodile writhes and wriggles but cannot escape the clutches of his angry opponents

In the jaws of death: The crocodile is defeated by a maze of angry hippos after trying to kill one of their young

Make it snappy: The raging hippos take revenge by biting back while feeding at the River Mara in Tanzania

Finish him, boys: The crocodile writhes in its final movements before being finished off by his mammal opponents

Link: http://www.dailymail.co.uk/news/worldnews/article-1228242/Oops-werent-logs-The-moment-crocodile-killed-taking-foolish-shortcut-herd-hippos.html

Banks - got to "love" em

It's interesting, isn't it, to observe bank's reaction time to RBA's raising of interest rates.

When RBA jacks up interest rates, banks are so quick to do the same for their lending products.....sometimes in a matter of hours after RBA ups the rates. It seems like a race at times - a race between the banks to see who is fastest to bring up their interest rates after RBA's announcement. But the banks are nowhere near as quick to raise interest rates for their deposits.

On the other hand, when RBA cuts interest rates, banks are ohhhh soooooooo slow to act. Sometimes, they wait for weeks before bringing their rates down on their loans.

Yes, I know the reasons why banks display such self-serving behaviour, but the sheer contrast in the banks' "reaction time" between RBA increasing & decreasing interest rates is just so great, that their actions may portray them as money-grabbing institutions. Who could blame customers for thinking that banks are just looking out for their own best interests instead of the best interests of customers?

Banks - u just got to "love" them.

Typos

Aoccdrnig to rscheearch at an Elingsh uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer is at the rghit pclae. The rset can be a toatl mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae we do not raed ervey lteter by it slef but the wrod as a wlohe.

ceehiro

Dust storm in Mutitjulu Community near Ayers Rock, Northern Territory & Sydney

There was a dust storm earlier today, affecting the east coast of Australia. Below are pictures of the dust storm in Sydney & in Ayers Rock, Northern Territory.

RIP Patrick Swayze

Patrick Swayze has died at the age of 57, of pancreatic cancer. He was diagnosed with the cancer almost 2 years ago, & has finally succumbed after a long & brave battle.

I heard news of his death on the way home. I remember Swayze best from the 1990 film Ghost, which also featured Demi Moore. I saw that film back in 1990 on the bus, while I was on a high school field trip. Quite an enjoyable (though, for me, sad) movie, too.

I've seen photos of Swayze just months before he died. He really lost a lot of weight, & it was only a matter of time before he would pass on. I don't follow his career closely, but it does seem that he is well liked & that he will be missed.

RIP, Patrick Swayze.

And they say: coffee is the answer

Recently we hear in the news, the issue of medical professionals being overworked, which poses risks to lives of patients. It is said that doctors who have fatigue are likely to make mistakes, which could in some instances cost the lives of patients. Queensland Heath therefore has suggested that doctors drink coffee to keep them awake.

There u are - drink coffee. Simple as that. That's their answer. Pffffhhhh. Well then, why stop there??? Why not go further & allocate different coffee brands to the different medical types?? For instance, they should tell get anesthetists & oncologists to drink only Gloria Jean's. They should tell neurologists & dermatologists to go only to Zaraffas. The should tell cardiologists & podiatrists to only take Starbucks. And they should tell oncologists & radiologists to only drink Hudsons Coffee. Anyone who drinks outside their allocated coffee brands will face disciplinary action. There, that should work, eh?????? Whooops, I forgot to mention dentists & psychiatrists. How they must feel left out......poor things. Surely the powers that be can come up with better & more constructive solutions for overcoming fatigue than simply telling medical professionals to drink more coffee. Sheeeessshhhh.

It's not supposed to be this warm now!

The temperatures in Brisbane have been hovering in the 30s. It's getting warm....seems like summer has come early. Way wayyyy too early. I know we're now in the last week of winter, but it's not supposed to be this warm so soon! At this rate, I'm dreading the thought of what this summer might be like. Arrrggghhh......

Gift cards! Time to use them!

I have a few gift cards for various places like Myer, David Jones, Coles, JB Hi-Fi & Australian Unity. I was given them from various occasions - farewell, birthday, Christmas, & even free gift. In total, the gift cards are worth over $200. Goodness, I should really get around to using them!!

I just realised that I should have brought the JB Hi-Fi gift card with me when I bought the Transformers complete collection. I should have remembered & planned things better. Never mind, I can use that to get something else the next time I visit JB Hi-Fi.

Transformers complete collection!

I just bought the Transformers G1 complete collection of DVDs from JB Hi-Fi this evening. It's a 17 disc collection. I'm very happy with the purchase. I've been on the lookout for something like this to come out. So when I saw the sale in the JB Hi-Fi catalogue, I decided on the spot that I would get the DVD set. And I did.

At last, now I can watch any Transformers episodes anytime I wish. Brings back memories of my childhood in the 1990s. "Transformers.....more than meets the eye....."

Unfortunately, there were no DVDs for other cartoons like Thundercats & Silverhawks. Perhaps I might have to hop on Ebay to search these, but they would not be cheap......

While at JB Hi-Fi, I managed to bump into a former work colleague. He also got retrenched (but a few months later than I did), & is now working in a firm in Southbank. When he filled me in on the details of the retrenchments that happened after I left the firm, I was really shocked. There was a mass culling of staff. It is sad to experience & hear the impact that the global financial crisis has done on the lives of many. Things can only get better. Hopefully sooner rather than later, too.

Article - Is coffee the key to beating bad breath?

Interesting article on coffee & bad breath. I was always under the impression that coffee contributes to bad breath, rather than help prevents it. Maybe that's true only for certain people. I have smelt bad breath which contains coffee (& nothing else). The worst of all is bad breath containing coffee, tuna & tobacco. Yuk - that's gross (though I don't tell that to people's face!)

I'm no coffee expert - I don't drink that much coffee. I drink more tea than coffee - especially over the last few months. At work (during morning & afternoon tea breaks), I only ever drink tea, but not coffee. I can definitely say from my experience that tea does not cause bad breath, thank goodness.

Anyway, here is the article (http://www.cosmopolitan.com.au/coffee_breath.htm)

Coffee Breath!

Australians love their morning coffee. We need that latte, flat white, or cappuccino to get us buzzing all the way till lunch time. Recent ABS statistics has shown we consume a whopping 1.23 million cups of coffee a day. But what about the side effects?

Coffee has long been noted as the cause for bad breath - but new research suggests this isn't true. In fact, it could be quite the opposite. The coffee bean could hold the secret to keeping bad breath at bay.

Research shows that coffee beans contain compounds that prevent bacteria releasing the gases behind halitosis (the disease for bad breathe. Coffee beans contain a special compound that prevents bacteria. Pinpointing the key chemicals could lead to coffee 'mints' or pastilles that stop bad breath at the source.

The research by Professor Mel Rosenberg, has found that adding black coffee to 'soups' of bacteria-filled saliva blocked the release of gases that cause breath to smell. In some cases, the amount of gas was cut by up to 90 per cent.

“We expected that coffee would cause bad breath but there is something inside this magic brew that has the opposite effect.”

By:- Monique Jones

The 5 most expensive hotel rooms in the world

See article from Times Online. Before I read it, I thought there would be some from Japan & the United Arab Emirates. It turns out that all of them are from Western countries, with 4 of them being European.

The article:


Forget about your financial worries and enter the world of the super rich, where spending almost £23,000 a night to stay at the world's most luxurious hotels is nothing special. With help from Forbes here is our list of the five most expensive hotels in the world.


1. The Hotel Martinez, Cannes, France: Penthouse Suite
£22,900 a night

Situated on the famous seafront boulevard, the "Croisette", Hotel Martinez (pictured above) boasts a Michelin starred restaurant, piano bar and "vast" private beach. Not that you will need to mix with the hoi-polloi if you book the luxurious and very expensive Penthouse Suite. You'll have a sitting room, dining room, two bedrooms, two bathrooms with hammam, shower, a spa bath, dressing room and sauna at your disposal as well as a huge terrace that overlooks the sea. Can I move in please?


00 33 4 92 98 73 00 www.hotel-martinez.com


2. Four Seasons Hotel, New York, USA: Ty Warner Penthouse suite
£21,500 a night

This 400 square metre penthouse tops the entire top floor of this magnificent hotel offering a 360 degree view of the Manhattan skyline. The nine-room suite is the brainchild of designer Peter Marino,architect IM Pei and the hotel's owner Ty Warner (the billionaire creator of the Beanie Babies). It boasts fabrics woven with platinum and gold, an indoor-outdoor Zen garden, a four foot high glass chandelier (see picture) plus the services of a personal butler, a personal trainer/therapist and a private chauffeur. The photos on the Four Seasons' website reveal its breathtaking luxury. Knowing that, unless I win the lottery, I'll almost certainly never enjoy its charms made me want to weep with envy.


001 758 5700 www.fourseasons.com/newyorkfs


3. Hotel President Wilson, Geneva, Switzerland: Royal Penthouse suite
£21,500 a night

The Swiss are famous for being souls of discretion about wealth as well as making damn-fine luxury watches. These values are reflected in this luxurious and ultra secure suite. Littered with period pieces, including a 1930s billiard table and a Steinway grand as well as breathtaking views over Lake Geneva and Mont Blanc, the highest mountain in the Alps, the opulence is enough to take most people's breath away. It also comes with a private elevator, surveillance cameras, bulletproof windows, armoured doors and bedside panic buttons. It's enough to make you paranoid.


00 41 22 906 6666, www.hotelpwilson.com


4. Grand Resort Lagonissi, Athens, Greece: The Royal Villa
£21,000 a night

With a butler, private chef and pianist at your beck and call there is no need to lift a finger - except to sip martinis - when you stay at this gorgeous villa. But when you're feeling more active you can also enjoy an indoor pool, outdoor heated pool and a gym. There's also a private marina and beach close by.


00 30 22910 76000 or visit www.lagonissiresort.gr.


5. Hotel Cala di Volpe, Costa Smeralda, Italy: Presidential Suite
£16,800 a night

Number five in our list of the fabulous and fantastically expensive can be found on the sun-kissed Costa Smeralda, a playground for the rich and famous for decades. The suite comprises three bedrooms, three bathrooms, an outdoor saltwater pool and a private gazebo and solarium.


00 39 0789 976 1111 or visit www.starwoodhotels.com.


Link: http://timesbusiness.typepad.com/money_weblog/2009/06/the-10-most-expensive-hotel-rooms-in-the-world.html

How fast R U? Teen girl wins US texting title‏

This girl has too much time on her hands. Me, I don't think I ever sent out more than 30 SMSes in any given month. This girl, on the other hand.....well, as they say, only in America :)

Here is the article:


How fast R U? Teen girl wins US texting title‏

The newest U.S. texting champion has a message for parents across the land - although they might not want to hear it.

"Let your kid text during dinner! Let your kid text during school! It pays off," 15-year-old Kate Moore said Tuesday after winning the LG U.S. National Texting Championship.

After all, she said: "Your kid could win money and publicity and a phone."

For the Des Moines, Iowa, teenager, her 14,000 texts-per-month habit reaped its own rewards, landing her the competition prize of $50,000 just eight months after she got her first cell phone.

Moore, with a speedy and accurate performance, beat out 20 other finalists from around the U.S. over two days of challenges such as texting blindfolded and texting while maneuvering through a moving obstacle course.

In the final showdown, she outtexted 14-year-old Morgan Dynda, of Savannah, Georgia. Both girls had to text three lengthy phrases without making any mistakes on the required abbreviations, capitalization or punctuation. Moore squeaked through by a few seconds on the tiebreaking text, getting the best two out of three. As she anxiously waited for confirmation of her win, tears streamed down her face.

The teen dismisses the idea that she focuses too much on virtual communications, saying that while she has sometimes had her phone taken away from her in school, she keeps good grades, performs in school plays and socializes with friends _ in person _ on the weekends.

In between, she finds time to send about 400 to 470 texts a day. Among her uses of the text messages? Studying for exams with friends, which she says is better done by text because she can look back at the messages to review.

The finalists, all 22 or younger, were among 250,000 people who tried to get spots in the competition. Some won their spots at the Manhattan finals by being the fastest people to text responses to televised ads.

It's the third year for the texting competition, sponsored by LG Electronics Inc.'s mobile-phones division. But it's the first time that it was held at a flashy sound stage with an illuminated platform and surrounded by TV cameras. LG, based in Seoul, South Korea, is considering using the footage in a televised special of some kind.

Twenty-year-old Jackie Boyd, who came in fifth in the competition, said she usually prefers text messages to phone calls because they get through faster and they're more private _ leaving her unworried about other people listening in.

"You can get more of what you really truly want to say" across with texting, said the Syracuse University psychology major. "Especially if it's an argument, you don't have to worry about saying the wrong thing.

"And if you don't want to respond, you can always say, 'Oh, I didn't get your text.'"

Link: http://www.aol.com.au/news/story/How-fast-R-U-US-girl-wins-texting-title/2212301/index.html‏

CBA postpones staff party after outcry

See previous post where CBA throw a party after jacking up interest rates? Now see below for latest developments. At least sanity prevails, thank goodness.

Here is the article:

CBA cancels staff party after rate hike outcry

16/06/2009 4:30:00 PM By Stuart Fagg, ninemsn Money

Commonwealth Bank of Australia has postponed a controversial $100,000 party for 800 staff after details of the event were reported by the media.

The bank was attacked by unions and customers over the party, which was being held just days after the bank raised interest rates on its variable mortgage, adding nearly $220 a year to repayments on a $300,000 homeloan.

The bank issued a statement this afternoon announcing that the party, which was to have had a 1920s gangster theme, had been postponed.

CBA spokesperson Bryan Fitzgerald said the bank acknowledged public concerns over the staging of the party in the current economic envrionment but remained committed to rewarding and recogising the contribuition of its staff.

Mr Fitzgerald added that reports that the party was to have featured Krug champagne and cavier were incorrect adding that the event was "to be of a modest scale with an Australian wine package and mini burgers".

The party had been organised for the bank's financial services dvision to celebrate the end of the financial year.

"The Bank would like to point out that the Financial Services event was a once a year function for staff of all levels in this division in lieu of a christmas party," Mr Fitzgerald said.

The bank angered homeowners and politicians late last week by announcing a 10 basis point rise in its variable mortgage interest rate.

The bank blamed higher funding costs on the move, but Prime Minister Kevin Rudd said the bank’s action threatened Australia's fragile economic recovery, while Treasurer Wayne Swan called the bank “selfish”.

Mr Swan warned yesterday of community outrage if another retail bank lifts its lending rates, adding that he did not believe the decision was justified.

"I believe that if any other bank were to take a similar decision, there would be understandable community outrage," he told reporters.

Reports this morning suggested that National Australia Bank and Westpac had raised rates on their fixed mortgage interest rates while ANZ bank raised rates on its fixed rate mortgages for 10 year loans two weeks ago.

Link: http://money.ninemsn.com.au/article.aspx?id=826208

CBA ups interest rates, then chuck a party??!!

This is absolutely disgraceful & uncalled for. The Commonwealth Bank of Australia (CBA) raises up interest rates, claiming this is needed because it costs them money to lend funds. Then they turn around & throw a colossal party. What on earth is going on??!!!

I don't mind telling u, dear readers, that I used to bank with CBA. I left them in 2002, after they decided to impose monthly bank fees on my account - regardless of balance or frequency of usage. I still remember that day. I lined up in the CBA's Queen St branch in the Brisbane CBD, & there was a massive queue - about a dozen people in front of me, & even more people behind me. I could hear the people in front of me telling the CBA counter that they are closing their CBA accounts due to that monthly bank fee. So when it came to my turn, the CBA officer could guess my reason for closing my CBA account. I moved my balance to St George Bank, & have been with them since (I also got various savings accounts with a few other banks).

As for CBA, well....tsk tsk tsk.

Here's the article:

CBA parties on after slugging homeowners with rate rise

16/06/2009 9:00:00 AM By Stuart Fagg, ninemsn Money

Commonwealth Bank of Australia will throw a party for 800 staff at a cost of nearly $100,000 just days after slugging homeowners with rise in variable interest rates.

A spokesperson for the bank confirmed that the party, which will have a 1920s gangster theme, will take place this week in Sydney. A report in the Herald Sun newspaper said the bank would spend $500,000 on the party, a claim that CBA spokesperson Bryan Fitzgerald denied.

"The cost of the event is around $100 per head," Mr Fitzgerald said. "This is the same as last year. Many of these staff will not receive any salary increase in the coming year as has already been announced by the bank."

He added that the division for whom the party is being held – the financial services division – does not have a Christmas party.

"This division has a once a year function to recognise the end of the financial year. It does not have a christmas party," Mr Fitzgerald said. "The event is a staff rewards and recognition event that reflects the hard work and long hours undertaken by the financial services team over the end of the financial year period."

The bank angered homeowners and politicians late last week by announcing a 10 basis point rise in its variable mortgage interest rate, a move set to add nearly $220 a year to payments on a $300,000 mortgage.

The bank blamed higher funding costs on the move, but Prime Minister Kevin Rudd said the bank’s action threatened Australia's fragile economic recovery, while Treasurer Wayne Swan called the bank “selfish”.

Mr Swan warned yesterday of community outrage if another retail bank lifts its lending rates, adding that he did not believe the decision was justified.

"I believe that if any other bank were to take a similar decision, there would be understandable community outrage," he told reporters.

Reports this morning suggested that National Australia Bank and Westpac had raised rates on their fixed mortgage interest rates while ANZ bank raised rates on its fixed rate mortgages for 10 year loans two weeks ago.

Link: http://money.ninemsn.com.au/article.aspx?id=825970

It's official - junk food IS addictive

Here's an article I just stumbled across via NineMSN (called "Sugar high"). It's very true & not surprising, really - junkfood is definitely addictive. Well, speaking for myself anyway, it's true. Once u start consuming, u just want more, & u just keep going. Try opening a can of Pringles, for instance. Remember the Pringles punchline "once you pop you can't stop". Well, it's so true isn't it, if u know what I mean ;)


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Sugar high

In news that's hardly eyebrow-raising (but is a little depressing)...junk food is addictive.

A study at the University of South Australia examined the effects of junk food on rats. The rats allowed to eat diets high in sugar and fat not only put on weight, but also became anxious when the junk food was replaced with healthier options. The lead researcher, Zhi Yi Ong, also discovered that the rats would often prefer to go hungry than to eat the healthier alternatives.

The rationale behind the results is that foods high in sugar and fat can trigger the release of dopamine in the brain's central reward pathway - the same area affected by illegal drugs.

"We're speculating junk food can down-regulate (desensitise) the reward pathway in our brains," Ms Ong said.

"So if you have consumed too much, you have to consume more and more in order to feel the same happy feeling."