Simonds Homes Queensland close down

Simonds Homes Queensland closed its doors this week and I say good riddance to them. If I could I would kick them all the way back to Victoria. They are not nice people to deal with in my opinion.
If I were buying a home anywhere in Victoria, Simonds Homes would be the last people I would contact.
As a past employee of Simonds Homes in 2008, I could see the writing on the wall.
Over priced homes and display items that you could not order at any price were only the tip of the iceberg.
Two days into the position and the State Manager was sacked.
The the new staff turned up as Mystery Shoppers to find what the problem was, and a new wave a managers, recycled golf buddies and others came and went.
Repeated attempts to direct my sales efforts to grow the business and my profile in the community I was working were met with cold water.
I heard stories from nice people that had in my view the misfortune to buy their homes and then have to endure the terrible service that they delivered.
Then without warning they marched into my sales display office at Reedy Creek and ordered me out, with the new draftsman the New State Manager and the New Sales Manager as beef, without a reason, without payment in lieu of notice, without 6 weeks pay for the time they had not pay me.
I am currently taking action through Government bodies and legislation to recover monies owed to me. I am sure that there would be others who need help to recover unpaid wages from these guys.
Some say Simonds Homes tactics are a blight on the building industry and this is a view shared by others as told to me who served and said they were not paid by them.
I am sure that there are other sales people, contractors, draftspeople and office staff that feel they they also have been duded that have worked at Simonds Home Queensland.
There are probably similar stories in Victoria.
If you have suffered through not being paid your wages or earnings through Simonds Homes Queensland or Simonds Homes what you feel you are owed by Simonds Homes in Melbourne or Victoria, please contact us here.
Maybe we can start a class action against Simonds Homes to recover our unpaid salaries, wages, commission, and fees.

US Banks to liquidate best assets

Crippled US banks need to sell their best assets as they relieve the strain of the credit crisis that they themselves created and on sold to many other banks.
Sell off and Sell off Early
The lesson to be learnt from this credit crisis has been to sell off assets and sell them early.
However, it appears that US bankers are setting out to make the same mistakes of the past 2 years again."
How low can the Market go?
The delusional belief that their stock prices were too distressed and did not reflect the true underlying value of their asset backing was wrong, and this has cost Merrill Lynch and Citigroup Inc., more than half of their per share capital.
In the case of Lehman Brothers and Bear Stearns, they had no net value, so any price would have been a good result.
Rewarding Bad Behavior
Now US taxpayers became the default investors in banks as a result of the U.S. Treasury's Troubled Asset Relief Programme, which recapitalized the institutions, whilst much of these funds were used top pay "bonuses" to staff.
Discounted Assets Sales Ahead
Asset sales are certain to be heavily discounted just as initial bids for collateralized debt obligations and retail mortgage-backed securities were.
While it is never pleasant to sell one's 'crown jewels', the strain of this credit crisis and the overextending of many bank balance sheets will require that they sell what they can and perhaps not what they would like.
This has to mean major job shedding in the near term.