Nothing seems to happen there anymore. No meetings, no correspondence replied to etc.
Does anyone know if it is officially dead?
The lights are on, but nobody’s home……..
Even the past president can’t be bothered responding to queries…….
A great opportunity…. now wasted……… It could have been a chance to make a difference through some self regulation…. sadly nothing has happened, and, many people who cared, I would assume, have now walked away……
A great Shame…
You may know the cost of everything…. but what about the value ????
That Rick Otton bloke is a bit of a weasel. I just read an interview done with A Current Affair posted on his website at http://www.financewraps.asn.au/media_releases.php?PHPSESSID=98ef5f8fa095eec3847ad2bc9bad2ea9
I can’t believe how he put Steve in it by associating himself with Steve to try and take some heat off. It is interesting how he avoided answering almost every question he was asked and continuously tried to promote his business.
I am not surprised if the Association collapses as I would not like to be represented by someone who is afraid to discuss his business publicly or concede that some people are disadvantaged by getting involved with wraps. This is obvious to all. People get ripped off in EVERY business. Wrapping is no exception!
He could not even give some indication as to what regulation he would promote. He likes associating what he teaches with learning medicine. I found that hilarious! How do you compare a course that runs for a few hours with one that runs over many years?
No offence to the wrappers out there who are doing it properly, as I am going to get further involved with these in the futue, but with a guy like this representing you, is it any wonder wraps have such a bad reputation in the media?
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHi Robert
I remember talking to Rick about that interview. Apparently the interviewer walked in the door and the first comment made was along the lines of “I am going to screw you and your organisation big time”. Hardly the way to relax Rick or make him feel warm and fuzzy.
Rick was very distressed about the interview, he spent all his time trying to answer questions in a way that meant there were no sound bites that could be taken out of context. Because of that some of his answers came across as evasive, or even hesitant, while he tried to decide exactly how to say things in a harmless way.
There were a number of questions that the interviwer repeated over and over, sometimes totally out of the blue, in order to catch Rick out.
I agree that some answers were less than ideal, but I have to say that given the circumstances I thought Rick managed to get out of the situation without giving A Current Affair more fuel for their fire. I’m just glad he managed to do that on behalf of the organisation, I think most people would have totally blown their cool.
I think associating himself with Steve at the time was a reasonable thing to do. They were both running seminars about wraps and had courses available for purchase on the subject. Certainly in discussions with the Victorian government around then, Rick and Steve represented the industry. Steve has since moved predominantly in other directions.
In the final show, they hardly used anything from Rick – which probably proves that Rick managed to frustrate their purpose of taking him down.Keep smiling
Felicity
What was his reason for not answering the questions about how much he charged for courses etc?
I have a favourite quote that goes something like this:
“In a gold rush, it is the ones selling the picks and shovels who gets rich”.
Rick sells ‘picks and shovels’.
I was also concerned that he could not concede that there are unscrupulous operators out there. He should have answered this in the affirmative without hesitation. It is the reason for having an association in the first place.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI don’t know why he chose not to answer the question about the cost of the course – possibly because it would then have been a case of well, x people are there at $x a head, which equals $XX? There are all sorts of course prices, depending on whether you take your partner, or are a returning graduate etc.
I’d have to go back and reread the bit about unscrupulous operators. Again, I think it was probably his fear of giving them a great sound bite that may have affected his response. And I believe he tried to answer “general” questions from the perspective that he could only answer for his own business, and what he does.
I agree that it wasn’t a shining beacon of great interviews, but I don’t think any of us can appreciate the enormous pressure Rick was under. It’s easy enough for us in hindsight to pick the interview to pieces, comment by comment. It’s a bit like being an armchair athlete. That’s very different to playing in the game.Keep smiling
FelicityIf he was so nervous about the interview Felicity why take it.
I have also seen ACA give the list of questions in advance when they want an interview bad enough. That would have given Rick time to prepare.
Saying that, not knowing how to answer questions about an industry you promote, no matter if you were play dodge ball or not is very poor demonstration for the general public. I istantly thought of another scam being performed while watching him.
If the association is falling apart, why doesn’t someone else start a new one if it is such an issue. It takes hard work, dedication and lots of time to get an association or even an industry watch dog off the ground. Also, the industry must want it so that it would succeed.
Wraps are always going to be a little tricky, a big part of that would have to be the civil libertarians, bless that bunch, I would like to see them offer something more than just a pain in all our asses.
Byronent
Adelaide SAAs far as I’m aware, Rick wasn’t given any questions in advance. He was also given the impression that he was going to be given the opportunity to present his side of the story in a fair, balanced manner. That all went out the window as soon as the interviewer opened his/her mouth.
I also don’t agree that Rick didn’t know how to answer the questions – he did, but he was so busy trying to answer them in a way that didn’t give A Current Affair any opportunity to quote him out of context, it was inevitable that it didn’t appear as though he knew the answers. And you can bet that A Current Affair used all the examples that put Rick in the worst possible light.Keep smiling
FelicityWhy did he take the interview at all if that was the case
Byronent
Adelaide SAA misguided belief that it might actually do some good? A hope that maybe for once something positive might come out of it? Perhaps to avoid that whole “xxx declined to comment” line that current affairs shows love to use, to put the person who declined to be interviewed in a bad light.
Keep smiling
FelicityHi,
From personal experience, it might be because even when you cannot comment due to the Privacy Act, they will just write a story anyway – regardless of facts.
But that is just my personal opinion
Regards
Michael GruberPrivacy Act had NOTHING to do with it. Questions were not being asked about personal details of a particular person.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHi,
In Rick’s case you are correct, in my case is was – and yet a story was still published with facts incorrect. The point was that in both cases the media was looking for a specific angle – as you read from the transcripts the interviewer was fishing for particular sound bites to edited into their story.
Would you agree that the media wanted to write the story in a specific kind of light?
I also read your question regarding how is it possible to remove a caveat before one is written.
You do not require any special solicitor, what you need is to include additional clauses in your contract which would give you limited power of attorney under specific conditions. Once those conditions are met – the other party has the power to do specific things.
It’s not something that can be abused as it is created for specific purposes and must be agreed by both parties before the contract starts.
Regards
Michael GruberAre you implying that a purchaser or their solicitor would allow the signing of a contract giving the vendor power of attorney of the purchaser?
Only a moron would sign such a contract and only a solicitor who should be disbarred would advise their client to sign.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI would not sign a contract like that.
I am still of the opinion that he shouldn’t have taken the interview if he couldn’t handle it.
Michael, I can’t see how an article could have caused you harm, and if so, wouldn’t your great character and business charm just see you through it. We all have short term memories.
Byronent
Adelaide SAWhat is it you do Michael that would see the media fabricating stories to ‘get you’?
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdRobert, I think you will find that the caveat clause Michael refers to is standard in most wrap contracts.
Because specific conditions must be met before the removal is exercised not one of the solicitors who my purchasers have taken the contract to has queried it. Thats in over a few dozen wraps with many different solicitors. Guess there will be a lot of disbarred solicitors soon
If you call Cordato Partners in Sydney I’m sure they will be able to provide a wrap contract for you to peruse. Steve has it as part of his wrap pack legalese too I think.
It is funny that I have been asking for a NSW wrap pack containing a NSW wrap contract and was only told yesterday about the Rick Otton pack. I would much rather Steve’s one but I will not purchase until such time as ADMIN confirms what is in it.
Regarding the ‘clause’, are you sure it is a power of attornet clause? Also, regarding the ‘specific conditions’, is that just that the purchase is paid what they are owed?
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdRobert, the wrap pack I have from Steve does not have a contract in it but it is his early one, circa 2001. It does have references as to what needs to be legally covered however.Lewis O’Brien was the applicable authority. I think Steves later one does but I’m not 100% sure. I would surmise it would only be good for Victoria anyway .
I was going to post the whole relevant section here but I don’t think the intellectual property that created it is mine to give away.
Why not have a think about making an appointment with one of the wrap solicitors to walk you through the whole thing. The cost is negligible ( a few hundred $$)and far better than going to and fro on this forum.
I am in between solicitors at the moment. I tend to find the worst of the worst. The person I am happiest with is only a paralegal and cannot do the necessary contract work. She can only do conveyances.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
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