Sydney, NSW -- (SBWIRE) --06/10/2011 -- The Mortgage & Finance Association of Australia has urged the government to rethink its controversial ban on mortgage exit fees after the Australian Bureau of Statistics released figures showing competition was further drying up in the crucial financial sector.

Housing Finance statistics for April were released yesterday (June 8) showing a further reduction in competition in the home loan sector as non bank lenders market share slumped to 1.0 per cent.

This is its lowest figure since non banks entered the market in the early 1990s. It is also a drop on the 1.2 per cent market share recorded in March.

MFAA chief executive Phil Naylor said the non banks formed an important part of the mortgage market because they competed with lower interest rates, ensuring that consumers could always find a better alternative to the banks.

Between 1996 and 2006 non banks rose to have 15 per cent of Australian mortgages as lenders such as Aussie and Wizard reduced interest margins with a 'deferred establishment fee' and made the entire market reduce their own mortgage margins by more than a half.

"These latest figures are very disappointing and the downward trend coincides with the government announcing it will ban exit fees," said Mr. Naylor.

In banning exit fees, effective July 1 of this year, the government had defined the deferred establishment fee as an exit fee, penalising non banks.

"Non banks have to fully cost the establishment fees for a loan, which could be as high as $2000 for legals and valuations," said Mr. Naylor. "The non banks say a borrower doesn't have to pay this establishment fee if they stay in the loan for, say, five years.

"It makes the loan worth while for both lender and borrower. By banning the deferred establishment fee, non banks can't compete with banks who can bring the establishment costs in-house."

In these latest figures credit unions (4.9%) and building societies (2.1%) have also lost ground while the banks have increased their market share to 92 per cent – the highest bank market share for mortgages in 20 years.

"Clearly there is no meaningful competition across the industry and smaller lenders are being squeezed further each month. We urge the government to either drop the exit fee ban altogether, or take note of the Senate Economics committee inquiry into banking and exempt non banks from the new regulations."

Contact:
Phil Naylor
phone 02 8905 1301
0411 554 048

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

$25 Billion of trade globally proves concept

Sydney, NSW -- (SBWIRE) -- 03/08/2011 -- On February 8th 1991, three Gold Coast business partners launched an audacious concept when they created a central exchange for bartering.

They called it Bartercard.

Although barter is the oldest form of commerce, in a sophisticated economy it is unrealistic to expect a cafe owner to directly barter with a plumber, or an accountant to swap goods and services with a book retailer.

The invention of Bartercard 20 years ago resolved that problem by establishing an electronic clearing house for members and creating 'Trade Dollars' as the currency for barter inside the system. So member businesses could 'sell' their own goods and services into the system, and convert them to trade dollars, with which they could 'buy' goods and services from another member business.

This eased cash flow difficulties for thousands of small businesses.

The fact that Bartercard now boasts approximately 20,000 businesses as members in Australia alone and operates around Australia and the world, is evidence that what to some looked like a novelty has now become an alternative finance system for small business owners, including EFTPOS cards and lines of credit. Bartercard accounted for more than $25 billion in barter transactions over the past two decades.

Bartercard International's executive chairman and co-founder Wayne Sharpe is convinced that it's the company's unique business approach that has been responsible for defying the odds and being able to celebrate its 20th anniversary this year.

"The Bartercard difference includes a credit card type account system, an extensive member directory, web-based eCommerce solutions and Bartercard's members-only inventory auctions which allow one business to offer up its excess stock for bids.

"We implemented some of these things very early in Bartercard's life, when our critics didn't see how it could be done. For instance, we launched Bartercard with a plastic member'stransaction card when the US based industry was using vouchers.

We developed the functionality of that card and eventually became the first non-bank company to have financial transactions over the EFTPOS system. Some of the banks were hesitant, but we got it up".

"So we always saw this not just as a barter network, but as an alternative finance system for small businesses," says Sharpe, now 53.

He says having extensive training programs and developing a direct customer relationship with trade coordinators has been another feature of Bartercard's success – a success measured against the fact that in its early years of operation, the Southport-based company competed with up to 26 other barter systems and exchanges.

Bartercard is easily the largest of a small list of 3 now. Success didn't happen by accident – over the past 20 years Bartercard has invested $50 million in technological development and more than $150 million in sponsorship and branding, on top of many $ millions and thousands of man-hours on training.

And Sharpe is proud that Bartercard is a true Aussie business, with 22 million transactions to its name over the past two decades.

Of the 400 businesses signed in the first year way back in 1991, 63 are still with Bartercard – a huge success given the high attrition rate of small businesses.

Now focusing on the international development of Bartercard, Sharpe remembers the company's modest beginnings on the Gold Coast. Since then, it has become the first barter exchange in Malaysia, Sri Lanka, Thailand, and the Middle East.

"There were many barter exchanges in the mid to late 90s and now there are three", says Sharpe. "Some we bought, others failed."

A franchise model has worked well. When Bartercard started, Wayne thought that franchisees had to be successful and profitable before the core operation could.

"We enabled both the franchisee and Bartercard to be profitable and to benefitmutually from each other's success," says Sharpe. "That way you are going to get top quality franchisees and work together with them to achieve a fabulous outcome.

"We have a commitment/ obligation to train franchisees. Conversely, the franchisee has to have a commitment to being trained."

Mostly, though, member businesses must see the benefits of being in Australia's largest barter system, meaning an active trained sales team.

Sharpe remembers that the first couple of years of operation were the most physically difficult: he used to often sleep in the office. The most psychologically challenging was the difficult three years 2006-09 around when Bartercard was listed on the London exchange, known as the AIM, where they had mixed results and raised little capital.

Of the success in terms of members and trading he says "Like any other service business, you have to earn respect and loyalty. But we are still here after two recessions and the GFC, and that's not a bad achievement."

About Bartercard
Bartercard was founded in 1991 on the Gold Coast, Queensland, and has grown to become the world's largest barter exchange, with over 110 offices worldwide. Bartercard assists over 55,000 businesses Globallyto barter their goods and services without the challenge of a direct one to one swap.

Although the concept of barter is thousands of years old, bartering though Bartercard is an innovative way of combining modern technology, a network of businesses and direct and indirect marketing channels to increase a business customers base, sales and profit, and improve cashflow.

The bottom line is business profits.

Media contact:
David Browne, Wilkinson Group Tel: 02-8001-8827 / Mobile: 0432 550 995
Company contact :
Wayne Sharpe ; CEO Bartercard International Tel: 07-5561 9000

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Online car insurer Progressive Direct (www.progressivedirect.com.au) has surveyed Australian drivers about shopping online and saving money. Some of our findings may surprise you…

Sydney, NSW -- (SBWIRE) -- 05/28/2010 -- More than half of Australian consumers would sooner sacrifice creature comforts than consider smarter ways to save bigger bucks, a new survey from online car insurer Progressive Direct (www.progressivedirect.com.au) reveals.

The survey of drivers around the country exposes some of the shopping habits of consumers and creative ways they stretch their household budgets.

For example, 55 per cent cut down on lifestyle comforts like electricity, heat and air conditioning while 53 per cent stick to cheaper brands like shops' own brand labels.

Other findings include:

• 52 per cent use the internet when money gets tight;
• 36 per cent only buy things when they're on sale;
• 40 per cent sacrifice rest and relaxation, cutting back on holidays, and;
• 7 per cent scrimp on soap and shampoo

"It seems we're very resourceful when it comes to thinking up ways to save money," said Simon Lindsay, head of Progressive Direct. "But our survey also suggests we sometimes only focus on the smaller ways to save while ignoring bigger opportunities.

"For example, our survey shows less than half of consumers (45 per cent) regularly consider the cost of their car insurance policy.

"And, while most consumers know that rates vary among car insurance companies (only 22 percent answered "True" when asked whether all insurance companies charge about the same amount for car insurance), most have no idea just how big the savings can actually be."

More than three quarters of those surveyed (76 per cent) by Progressive Direct thought the average annual amount an adult couple could save on car insurance was $200 or less. But a study by CHOICE found the average difference between the maximum and minimum premium for an adult couple was actually $625.

"Shopping around for car insurance is a simple thing people can do to potentially save hundreds of dollars a year and doesn't take too long to do," Mr Lindsay said.

"Looking at it another way – consumers can actually use the savings they make on their car insurance to put towards that all-important holiday, or even splurge on an extra bottle of shampoo!"

Additional survey results are available upon request.

SIMON LINDSAY is available for comment.
Contact: Simon Mossman, Wilkinson Group, on 0414 472 585 or Pip McGrouther, Wilkinson Group, on 0422 041 050

About Progressive Direct
Progressive Direct (http://www.progressivedirect.com.au) is an online car insurer with Australian headquarters in Melbourne. Its account-style offering is designed for consumers who prefer to buy and manage their policies online in a simple and secure Internet environment backed by 24/7 support. Progressive Direct aims to make car insurance simple, including by making it possible for customers to insure up to five cars on a single policy, eliminating the hassle of having to quote, buy and manage separate policies for each car in their household.

Progressive Direct Insurance Company ABN: 28 140 389 528, AFSL: 342 902 is regulated by the Australian Prudential Regulatory Authority and is a wholly owned subsidiary of The Progressive Corporation (Progressive), a Fortune 500 company based in the United States. Progressive is one of the largest motor insurance specialists in the world, insuring over 10 million motor vehicles each year.

For more on Progressive, visit http://www.progressive.com.

DID YOU KNOW?
Online car insurer Progressive Direct (www.progressivedirect.com.au) has surveyed Australian drivers about shopping online and saving money. Some of our findings may surprise you…

I did it My Way
The main reason people shop online is because—as Frank Sinatra would say—they can do it their way.

When asked to pick the main reason they shop online, half of those surveyed (50%) said it's because they can do it anytime, when it's most convenient for them.

Other top reasons for online shopping are value and ease:
17% "I think I'll get a better deal because there's less overhead."
14% "It's easy."

A small number (1%) said their main reason for shopping online is so they don't have to talk to a sales person or be put on hold while buying something on the telephone.

Some said their main reason for shopping online is so they can buy things they can't get in Australian shops.

Men are the real shop-a-holics
Nine out of 10 Australians shop online at least occasionally (only 11% say they never shop online). Close to half (45%) say they shop online at least once a month.

AND: men are more than twice as likely as women to shop online every day. (5% versus 2%)

Don't forget to bring a book for the flight
When asked what they bought online in the past year, almost half of those surveyed (45%) said they'd bought airline tickets. Other top online buys:
36% Books
33% Consumer electronics
32% Clothing

A virtual test drive?
21% of people bought car insurance online within the last year, while 4% bought an actual car over the Internet. People in regional areas were six times more likely to buy a car online than those in metropolitan areas (7% versus 1%).

NSW drivers are 50% more likely to buy car insurance online than people in Queensland.

Percentage of people who bought car insurance online in the last year:
27% New South Wales
20% Victoria
19% Western Australia
18% Queensland

Does this computer screen make my bum look big?
Maybe it's fear of the dressing room, but women are 77% more likely than men to buy clothes online (39% versus 22%).

Men, meanwhile, are twice as likely as women to buy consumer electronics online (50% versus 23%).

Roughing it
When asked what lifestyle changes they've made to save money, more than half of Australians (55%) say they use less water, electricity, heat and air conditioning.

Some (7%) even go so far as to cut back on soap and shampoo. But people in Queensland are about half as likely to cut back on soap and shampoo as people in NSW (5% versus 9%). And married people are about half as likely as singles (5% versus 10%) to cut back on soap and shampoo.

Staying home for the holidays
About 40% of those surveyed save money by going away on holiday less often.

What's in a name?
53% of people buy cheaper brands, like shops' own brand labels.

Cutting down on car use
Almost a third of drivers (30%) say they drive less to save money. 12% say they use public transport more.

Kick the habit for cash?
About a quarter of smokers (24%) say they quit smoking cigarettes to save money, while 37% cut back. But 39% say their smoking habits remain the same.

Drinking seems to be a harder habit to break. Only 5% of those who indulge in alcohol report giving up drinking altogether to save money. 39% have cut back on alcohol, while more than half (56%) haven't changed the amount of alcohol they consume.

Among the states surveyed, Western Australians are the most likely to give up alcohol when money gets tight, and Victorian residents are the least.
Percentage of drinkers who gave up alcohol to save money:
8% Western Australia
7% Queensland
5% New South Wales
2% Victoria

Contact: Simon Mossman, Wilkinson Group, on 0414 472 585, or Pip McGrouther, Wilkinson Group, on 0422 041 050

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Perth, Western Australia -- (SBWIRE) -- 05/05/2010 -- A growing focus on gas and the emergence of non-conventional resources such as CSG and shale gas in Australia will deliver huge opportunities for companies to upsize, despite the familiar challenges of an ageing workforce, according to global retained executive search firm Maxwell Drummond (http://www.maxwelldrummond.com).

"It's widely acknowledged that Australia has a rapidly ageing and retiring population so it will be essential for companies to focus on investment in skills training and new talent recruitment," said Donald Baillie, General Manager for Maxwell Drummond's Asia Pacific region.

The looming staffing challenge is reflected in results from Maxwell Drummond's annual worldwide trends survey of energy company executives, which has a large focus on strengthening the workforce, developing unconventional resources and preparing for economic recovery after the global financial crisis.

"Our survey aims to tap the minds of leading energy executives around the world to find out what keeps them up at night," Mr Baillie said.

"According to our results, tackling worker and skills shortages remains a top priority for all companies with almost 90 percent of respondents indicating their companies are investing in employee skills training."

Maxwell Drummond's survey results have been released in time for Australia's headline oil and gas conference, APPEA (www.appeaconference.com) in Brisbane and the Houston Offshore Technology Conference, both in May.

"In Australia, industry confidence was buoyed last year somewhat by the potential of coal seam gas in the eastern states and boosted by sanction of the Gorgon project on the West," Mr Baillie said.

"There is a new focus on gas and with business confidence continuing to grow, many companies are now re-evaluating their onshore acreage for unconventional resource development.

"Elsewhere around Asia-Pacific, projects in South East Asia have maintained their momentum somewhat as the national oil companies lead the production of energy for their growing countries' economies."

The survey participants incorporated a sampling of leadership from all energy sectors including upstream, midstream, subsea, oil field services, engineering/procurement/construction and seismic/subsurface.

Other key survey findings include:

- Respondents believe functional gaps are most acute in the areas of operations, reservoir engineering and subsea, particularly in locations where energy is hardest to recover;

- Compared to 46 percent in 2009, more than 90 percent of respondents would now recommend careers in energy and support heightened academic advocacy of energy and oil & gas-related degree programs;

- Companies with revenues less than $536M (US$500M) believe global economic recovery to be at least 12 months away, while companies with revenues over $5.36 billion to $10.7 billion (US$5B - US$10B) believe recovery to be three to six months away.

Notes to Editors

For complete survey results, interviews and photography, please contact Felicity Grey at Wilkinson Group on 03 9626 2433 or 0401 050 292 or email fgrey@wilkinsonpr.com.au

About Maxwell Drummond International
Maxwell Drummond International (http://www.maxwelldrummond.com) is an international retained executive search firm that works exclusively with clients in the energy and natural resources sectors. The firm's global headquarters are held in London and MDI has offices in Houston, Calgary, Edmonton, Aberdeen, Johannesburg, Perth and Sydney. MDI's more than 50 search professionals cover every major domestic and international energy market and specialise in all sectors of the industry – from oil and gas, and mining to renewable.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Transformation to full-service marketing communications company Launch of consumer sub-brand Woosh Launch of Wilkinson Corporate Affairs unit led by Peter Wilkinson

Sydney, NSW -- (SBWIRE) -- 04/23/2010 -- Communications agency Wilkinson PR has today announced it is becoming the Wilkinson Group and will offer an expanded set of services to clients across a diverse range of industries including technology, environment, government, primary industry, corporate, financial communications, consumer and lifestyle. Beyond traditional communications fundamentals, these services will include online communications and social media, capital markets and investor communications, internal communications, influencer outreach, government lobbying and the company's new SME support initiative.

The Wilkinson Group, which has offices in Sydney and Melbourne, and is the lead Asia/Pacific member of the international IPREX network, also today publicly launched two new business units; Wilkinson Corporate Affairs, which will provide high level issues management and senior counsel with a focus on small to mid cap companies; and Woosh, the group's new consumer sub-brand.

Wilkinson Group founder and veteran newsman Peter Wilkinson said, "Since our inception eight years ago we have focused on building a solid foundation for the future through our work with clients on high-profile corporate and issues-based campaigns.

"While the heritage of our firm has been in crisis management and media relations, we've now developed new specialisations built around expert practitioners in finance, consumer and lifestyle and this new structure embraces that."

In July 2009, the company's board appointed former Ogilvy PR consultant Simon Murphy to head its business operations, since which time Murphy has brought in additional 'big agency' experience in the form of Saxon Shirley (formerly Spectrum PR) to head digital and lifestyle and Rebekka Thompson-Jones (formerly Ogilvy PR and Zing) to head the new Woosh consumer division.

Prior to launch, the newly formed team has already completed a number of successful projects for Woolworths, Tiger Airways, Progressive Direct, Zuji, the World Wildlife Fund for their recent Earth Hour and a special environment focused project for the release of HOME on DVD.

Woosh has been launched to represent high-profile FMCG and lifestyle brands around the world. Headed by Rebekka Thompson-Jones, the new consumer division will blend expertise in social media with innovative consumer PR campaigns.

Murphy, Wilkinson Group CEO, said by growing its presence in new industries, Wilkinson is taking advantage of changes in marketing and communications behaviour witnessed over the last 18 months.

"The rise of digital and the GFC have seen a lot of companies now focused on building long-term relationships with customers rather than blink-and-you-miss-it promotions. We have the experience to develop valuable consumer and business advocacy and grow the voice of our clients. Diversification, new blood and a continued commitment to exceptional client service are the primary attributes of the Wilkinson Group.

"The future is exciting for the Wilkinson Group and we look forward to working with a wide ranging portfolio of clients with synergies similar to our own."

Another development today includes the appointment of financial communications expert Hugh Fraser to the Wilkinson Group board, which is chaired by ex Macquarie Bank Executive Director Tony Fehon.

Fraser will continue to head-up financial and corporate communications firm FCC Partners, and will now also be available to provide counsel to Wilkinson Group's clients.

Wilkinson Group Board:

Chairman:
Tony Fehon

Director and Company Founder:
Peter Wilkinson

Director:
Hugh Fraser

Director:
Stewart Murrihy

Director:
Simon Murphy

Wilkinson Group Company Structure & Leads:

Group CEO:
Simon Murphy

Wilkinson Corporate Affairs:
Peter Wilkinson

Wilkinson Sydney
Saxon Shirley (Digital & Lifestyle)
Nick Davy (Commerce & Government)
Hugh Fraser (Financial Communications and Corporate Programs)

Woosh:
Rebekka Thompson-Jones

Wilkinson Melbourne:
Simon Mossman

Media Enquiries: Saxon Shirley, 0408 228 077 or sax@wilkinson-group.com.au

Editors Note:
Logo & Images: http://picasaweb.google.com/wilkinsonprimages/WilkinsonGroupRelaunch#

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm