More high $ pain.
Jan 24th 2012, 7:24 am
#91
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: More high $ pain.
Well, this is interesting:
(Source).
With any luck, it will mean GM doesn't get the $200 million it needs to maintain the failing Holden plant. Fingers crossed!
The Federal Government says there was nothing it could have done to prevent job losses at Toyota, because it doesn't "do bailouts".
The Japanese carmaker has announced it will have to slash 350 jobs from its Melbourne plant, largely because of falling overseas sales due to the high Australian dollar.
Manufacturing Minister Kim Carr says the company told him last year of the serious problems it was facing, but says the Government will not give direct assistance to save jobs.
"The company doesn't operate on the basis of asking for a handout or a bailout or any of the other words that are used," he said.
"That's not the way it works, we don't do that. What we do is provide support to encourage new investment for new products.
"It's not the Government's job to tell them how to manage the plant. Governments do not run the car companies."
The Japanese carmaker has announced it will have to slash 350 jobs from its Melbourne plant, largely because of falling overseas sales due to the high Australian dollar.
Manufacturing Minister Kim Carr says the company told him last year of the serious problems it was facing, but says the Government will not give direct assistance to save jobs.
"The company doesn't operate on the basis of asking for a handout or a bailout or any of the other words that are used," he said.
"That's not the way it works, we don't do that. What we do is provide support to encourage new investment for new products.
"It's not the Government's job to tell them how to manage the plant. Governments do not run the car companies."
With any luck, it will mean GM doesn't get the $200 million it needs to maintain the failing Holden plant. Fingers crossed!
Jan 24th 2012, 7:33 am
#92
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: More high $ pain.
Just a side note for you Vash (and anyone else thats interested) re Aus Post and the abolition of Night Shift as decreed by Head Office. Well 'all good plans" as they say.... It looks like they cant do it... Reason being the High Aussie dollar has meant such a surge in overseas parcels into Aus that any decrease in traditional mail is now being replaced by small parcels from overseas. Not sure how long this will continue. This growth sure has thrown their 'letter" planning to the schitzenhausen. I think the key was how many small rather than large overseas parcels we are getting... which means the posties can deliver rather than the parcel drivers.
The growth in small overseas parcels shows no signs of abating either, if anything it's still gaining momentum at quantam levels.
The growth in small overseas parcels shows no signs of abating either, if anything it's still gaining momentum at quantam levels.
Jan 24th 2012, 8:03 am
#93
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Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: More high $ pain.
Yes that is interesting, the Government dont do bailouts so what do they call it then ?
They are damned if the do and damned if they don't. If they bail them out they are seen to be giving money to rich multinationals but if they dont then they are abandoning the workers especially in a high unemployment area like Elizabeth.
They are damned if the do and damned if they don't. If they bail them out they are seen to be giving money to rich multinationals but if they dont then they are abandoning the workers especially in a high unemployment area like Elizabeth.
Well, this is interesting:
(Source).
With any luck, it will mean GM doesn't get the $200 million it needs to maintain the failing Holden plant. Fingers crossed!
(Source).
With any luck, it will mean GM doesn't get the $200 million it needs to maintain the failing Holden plant. Fingers crossed!
Jan 24th 2012, 8:14 am
#94
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: More high $ pain.
why should taxpayers support unproductive industries?
Jan 24th 2012, 8:37 am
#95
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Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: More high $ pain.
They shouldn't.
Jan 24th 2012, 10:07 am
#96
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: More high $ pain.
Yes that is interesting, the Government dont do bailouts so what do they call it then ?
They are damned if the do and damned if they don't. If they bail them out they are seen to be giving money to rich multinationals but if they dont then they are abandoning the workers especially in a high unemployment area like Elizabeth.
They are damned if the do and damned if they don't. If they bail them out they are seen to be giving money to rich multinationals but if they dont then they are abandoning the workers especially in a high unemployment area like Elizabeth.
That's started to change recently with massive government investment, including improved services, the expansion of the city centre, and the release of new land for industrial and residential zoning. But this is a long term plan and we're unlikely to see any significant changes inside 10 years.
Playford is a funny old place; you can drive through Elizabeth East and feel like you've just escaped a post-nuclear holocaust (complete with mutants!
) but then you drive past Elizabeth Vale and it starts to look decent. 2 minutes later you're in Hillbank, with rolling green hills opening up on all sides and pretty 4x2 houses looking down at Adelaide. Quite bizarre.
Last edited by Vash the Stampede; Jan 24th 2012 at 10:12 am.
Jan 24th 2012, 6:30 pm
#97
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: More high $ pain.
Banco Santander is above them all, that says more. It has assets of 1.6 trillion according to that report, wonder if they've knocked 50% off the price of their Spanish property assets, land etc.
Banco Santander is as secure as Spain, which ain't very.
Brisbane house prices fell 7% in 2011, do you think the big 4 are valuing their assets based on that, of course not.
Banco Santander is as secure as Spain, which ain't very.
Brisbane house prices fell 7% in 2011, do you think the big 4 are valuing their assets based on that, of course not.
Oz will be among the few countries in the universe to first implement the strict Basel III capital requirements in the banking sector.
Jan 25th 2012, 1:09 am
#98
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Joined: Dec 2008
Posts: 3,396
Re: More high $ pain.
Jan 25th 2012, 1:34 am
#99
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: More high $ pain.
What the IMF found was that Australian banks may not be able to withstand an Irish-style economic crunch (a "dual shock of a residential property downturn and losses on corporate lending").
