| Banks treating Swan like a 'mug'
Opposition treasury spokesman Malcolm Turnbull backed comments by former Coalition treasurer Peter Costello last week that the banks were taking advantage of Treasurer Wayne Swan's inexperience. "Wayne Swan is being treated like a mug by the banks, no question," Mr Turnbull said on ABC radio today. He described as "absolutely dismal" Mr Swan's performance on interest rates. "When the NAB came out and put up rates the first time, Wayne Swan defended them with an eager enthusiasm that made him sound like a public relations officer for the Australian Bankers Association," Mr Turnbull said. The threat of the banks raising mortgage rates independently of the Reserve Bank of Australia (RBA) was "always coming up in the lift". "Wayne Swan did nothing to get ready for it.
Rogers shares hurt by talk of Telus technology shift
The main selling point of GSM (global system for mobile communication) is that it's the most popular cellphone technology around the world. That means GSM carriers such as Rogers tend to get devices at cheaper prices and sooner than their rivals, including Telus, which use CDMA (code division multiple access) technology. Making such a jump, however, would be a tricky endeavour for Telus. It could cost anywhere from several hundred million up to a billion dollars, analysts reckon. Moreover, the time required for such a change is uncertain, with some suggesting it could be done within a year and others estimating it could take twice as long. "I don't envy the decision because I don't think it's an easy one," said National Bank Financial Inc. analyst Greg MacDonald.
Club news
Delta KappaEpsilon Sigma AlphaDelta Kappa Chapter of Epsilon Sigma Alpha will meet 7 p.m. today at the Chamber of Commerce.Delta Kappa meets on the first and third Monday of the month. For more information on becoming a member or forming a chapter, contact Vivian Gibson at 364-0484.Eta ChapterDelta Kappa GammaThe Eta Chapter of Delta Kappa Gamma will meet 6 p.m. Tuesday at Eisenhower Elementary, 1415 Fairlawn Dr. Deputy Kim Lopez with the Cleveland County Sheriff's department will present a program on personal safety and identity theft. Dinner of soup and dessert will be served with donations for the soup going to the chapter scholarship fund. For more information contact Lorraine Provine at lorraineprovine@cox.net or Ann Goff at 364-4429.Central Oklahoma Marine Aquarium SocietyThe Central Oklahoma Marine Aquarium Society's annual membership drive is 7:30 p.m.
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