Bo-Jangles

Posting this, as I daresay some BE members will be affected directly or indirectly. or in case anyone here was in talks or had a job application in progress with them.

http://www.nzherald.co.nz/nz/news/ar...ectid=10863801

simonsi

Very Sad. Clearly the Chch rebuild does not solve all problems.

Snap Shot

It beggars belief ! The 'Christchurch rebuild' (I feel like saying yeah, right like in the Tui beer advert but that's not very positive) is not the be all and end all that some people think it is. Companies were advertising jobs based on the Christchurch rebuild from March 2011. Still doing it now. Those jobs are where.........?

Well, ok, a few expats have gone 'gung ho' to Christchurch on a job offer but it's not the hive of activity that it should be. If so, how come the plug on Mainzeal has just been pulled ?

The fact that Fletcher Construction got the re-build contract ? Hardly a stitch up at all then.

(We managed to go 'gung ho' to Christchurch without a job offer! That worked, yeah right !)

Genesis

Another nail in NZ's coffin. What with the rising dollar, the most likely big fall off in tourism and so many jobs going to the wall will the last person to leave turn off the lights?

Another industry debacle is the stuff found in Fonterra's milk powder that was destined for China. Heard there was some kind of trying to sweep it under the carpet today and how Fonterra's virtual monopoly is doing NZ no good.

Robbie2010

I don't believe it myself but according to the news today ...

Unemployment fell to 6.9 per cent in the quarter, down from 7.3 per cent in the September quarter.

Genesis

Yeah, heard that too. But the manufacturing base of NZ is going to rack and ruin with the ever increasing high dollar. The rest of the world is devaluing their currency whilst NZ's is soaring.

It is utter bollocks to say that 'nothing' can be done about it..it can with some degree of success. That is what many in the know are saying.

You could drop the interest rate AND have some control over house prices with a loan to deposit ratio set to stop at a level that would cause prices to bubble even further.

You can sell some of your currency but the best way is to do a small round of printing of money. Are all the other leading nations in the world sooooo wrong? They are doing it, admittedly way too much in some countries and I understand the downside of printing too much.

Both a very strong and a very weak currency are very bad for any country. There is a happy median and almost 85 cents and 54 pence for the kiwi is not any where near a reasonable median.

Clappy

The number of employed people dropped by 23,000 too, according to the statistics press release, so it is not all good news.

Genesis

AND today economists are doubting the validity of that drop mentioned above. Apparently the unemployment rate amongst youth is going thru' the roof in NZ. And would one not think that with 50k people leaving for Oz every year from NZ the LAST thing we should have is an unemployment issue???

burbschook

Unfortunately the knock on affect will touch many people not just directly employed by Mainzeal. A local plumbing company is owed c $800,000 by them. I know of several companies who supply services & goods that have been having a lot of urgent meetings this week. So a domino affect right through.

jmh

I write CV's for a living and I have had quite a few sub contractors in the construction industry in the past year. These are guys who have been running their own businesses, employing other people, and they have struggled through earlier recessions and pulled through. They say the hard times have been going on longer than earlier ones and they can't make ends meet. Very sad, as most of these were hard working guys who don't want to give up. Very sorry for the subbies left without being paid.

I think there are issues over the management of the company which might come to light. I had heard some rumours.