Victoria now in recession

[kathryn d]

where are these job losses Kathryn?

I am just stating what it said on TV..I think they are referring to NSW.

They had a news story on about CSG there, and the next day, the company stopped. It was poisioning water .They mentioned it would result in 27,000 job losses.
They weren't specific whether it was current or future jobs.

Did anyone see it?

 

[Crabnet]

I am just stating what it said on TV..I think they are referring to NSW.

They had a news story on about CSG there, and the next day, the company stopped. It was poisioning water .They mentioned it would result in 27,000 job losses.
They weren't specific whether it was current or future jobs.

Did anyone see it?

That was most likely a story relating to Dart Energy.

"Dart Energy shares have tumbled to record lows as the company cuts costs and slashes jobs in response to government crackdowns on coal seam gas projects.

Dart will close offices and axe 70 per cent of its workforce, taking the number of employees to 50, as it aims to slice costs by nearly two thirds.

It is also suspending field operations at Fullerton Cove, near Newcastle in NSW, and switching focus to developing CSG projects in Britain and China.

The moves come after the NSW government announced tough new coal seam gas regulations, including a ban on CSG drilling near homes."

 

[kathryn d]

That was most likely a story relating to Dart Energy.

"Dart Energy shares have tumbled to record lows as the company cuts costs and slashes jobs in response to government crackdowns on coal seam gas projects.

Dart will close offices and axe 70 per cent of its workforce, taking the number of employees to 50, as it aims to slice costs by nearly two thirds.

It is also suspending field operations at Fullerton Cove, near Newcastle in NSW, and switching focus to developing CSG projects in Britain and China.

The moves come after the NSW government announced tough new coal seam gas regulations, including a ban on CSG drilling near homes."

Yes, thank you, this sounds like it.

 

[Peter 14.7]

More bad news for VIC and SA.

http://www.news.com.au/national-new...-south-australia/story-fncynjr2-1226615030091

Holden to cut 500 jobs, 100 in VIC engineering. THis is after $200M in Fed and $60M in State Funding. SA Premiers says this decision breaches minim employment levels.

More death to manufacturing in VIC.

Heaven help us when the Mining Boom stops or slows and we don't have a back up plan and a lower AUS $ as it is presently.

And consider this... Holden was the strong one over Ford. So if Holden is scaling back.... it argues Ford could well be closing shop.

Peter 14.7

 

[turk]

Using "Final State Demand" to measure a recession is misleading as it is incomplete data that does not include exports.

."[/B]

Media experts now have West Australia in recession,


WA in recession as growth slows to a trickle

Western Australia, the engine room of Australia's growth in recent years, is now in recession.

Read more: http://www.theage.com.au/business/w...o-a-trickle-20130605-2nqh4.html#ixzz2VPfsgSgq


A reply from Treasury chief economist David Gruen


"The idea that in the face of the largest export boom we have ever seen you ignore exports and focus on the price of the economy which is demand by Western Australia and claim that that's a recession, it belongs in the comic books not in serious newspapers," Treasury chief economist David Gruen told a Senate hearing.
Read more: http://www.theage.com.au/business/wa-recession-claims-are-hysteria-20130606-2nrzv.html#ixzz2VPgVxXo8

 

[Peter 14.7]

Media experts now have West Australia in recession,


WA in recession as growth slows to a trickle

Western Australia, the engine room of Australia's growth in recent years, is now in recession.

Read more: http://www.theage.com.au/business/w...o-a-trickle-20130605-2nqh4.html#ixzz2VPfsgSgq


A reply from Treasury chief economist David Gruen


"The idea that in the face of the largest export boom we have ever seen you ignore exports and focus on the price of the economy which is demand by Western Australia and claim that that's a recession, it belongs in the comic books not in serious newspapers," Treasury chief economist David Gruen told a Senate hearing.
Read more: http://www.theage.com.au/business/wa-recession-claims-are-hysteria-20130606-2nrzv.html#ixzz2VPgVxXo8

As all Pollies do, JOBS is what matters. Are jobs going, slowing or not even beginning.

Peter

 

[turk]

As all Pollies do, JOBS is what matters. Are jobs going, slowing or not even beginning.

Peter

If you are referring to David Gruen, he is not a Pollie , nor is Treasury Secretary Dr Martin Parkinson, his opinion on the media experts being

Dr Parkinson says it is hard to fathom why commentators would downplay such an important aspect of the figures.

"Some of the hysteria that's in the press today is really over the top,"

Using incomplete data to reach a faulty conclusion may help sell newspapers but it's still a faulty conclusion.


Anecdotally I think jobs growth is slowing.

 

[Peter 14.7]

Well that is good to see not a Pollie so I stand corrected.

Jobs grow may be slowing in WA but in VIC jobs are bleeding, everywhere.

Latest is Target to lose 1000 from head office in Geelong.

http://www.heraldsun.com.au/busines...-jobs-in-geelong/story-fni0d54w-1226658393088

Peter

 

[turk]

Well that is good to see not a Pollie so I stand corrected.

Jobs grow may be slowing in WA but in VIC jobs are bleeding, everywhere.

Latest is Target to lose 1000 from head office in Geelong.

http://www.heraldsun.com.au/busines...-jobs-in-geelong/story-fni0d54w-1226658393088

Peter

I find that newspapers tend to print stories to suit the times and are not always balanced.

It would seem the NBN Co will be creating 7500 jobs next financial year, add to this the multiplier effect and in these times you would think that such a boost in employment would be worth reporting.

Perhaps it has been and I missed the story, have you seen this report?

 

[CHAOS]

Well that is good to see not a Pollie so I stand corrected.

Jobs grow may be slowing in WA but in VIC jobs are bleeding, everywhere.

Latest is Target to lose 1000 from head office in Geelong.

http://www.heraldsun.com.au/busines...-jobs-in-geelong/story-fni0d54w-1226658393088

Peter

Gillard has offered Geelong a 300 job NDIS bandaid to stop the bleeding from Ford. Target strolls in and rips it straight off

 

[Angel]

I find that newspapers tend to print stories to suit the times and are not always balanced.

It would seem the NBN Co will be creating 7500 jobs next financial year, add to this the multiplier effect and in these times you would think that such a boost in employment would be worth reporting.

Perhaps it has been and I missed the story, have you seen this report?

No, the media is too busy talking about asbestos poisoning everyone within 20 feet of an NBN cable and how many more $$$ it will cost the govt

 

[Tillie]

Well that is good to see not a Pollie so I stand corrected.

Jobs grow may be slowing in WA but in VIC jobs are bleeding, everywhere.

Latest is Target to lose 1000 from head office in Geelong.

http://www.heraldsun.com.au/busines...-jobs-in-geelong/story-fni0d54w-1226658393088

Peter

Correction. There are industry rumours that Target will loose 200 out off 1000 positions in Geelong, not all 1000

 

[Aaron_C]

No, the media is too busy talking about asbestos poisoning everyone within 20 feet of an NBN cable and how many more $$$ it will cost the govt

While I'm happy for the Government to cop flak for yet another stuff up, I don't think this asbestos thing is their fault. Plus the asbestos used is the white kind which isn't as dangerous as blue asbestos. I understand the fear though.

 

[Truly Exotic]

While I'm happy for the Government to cop flak for yet another stuff up, I don't think this asbestos thing is their fault. Plus the asbestos used is the white kind which isn't as dangerous as blue asbestos. I understand the fear though.

maybe they could spray paint the asbestos blue instead

 

[Crabnet]

maybe they could spray paint the asbestos blue instead

That's one method of remediation. Spray it with a sealer.
Anyway the hysteria is ridiculous. Should someone put up barrier sand warning signs around the properties with asbestos cement fences, eaves, cladding and roofing?
If the press keeps up the hysterical "shock, scandal" response rather than an educational, informative approach the government may knee jerk react and legislate for asbestos registers for residential properties.

 

[willair]

maybe they could spray paint the asbestos blue instead

That's the problem with asbestos in old comm-buildings - the heater banks for the ac-units all used to be clad in asbestos copper heater coils but white asbestos based,i was only thinking that the other day in Syndey looking down at a building in Chinatown built in 1890 and everything inside the ducting was black.,,

 

[Peter 14.7]

That's one method of remediation. Spray it with a sealer.
Anyway the hysteria is ridiculous. Should someone put up barrier sand warning signs around the properties with asbestos cement fences, eaves, cladding and roofing?
If the press keeps up the hysterical "shock, scandal" response rather than an educational, informative approach the government may knee jerk react and legislate for asbestos registers for residential properties.

Agree it is hysteria as to the actual real risk. And at the time it was seen as a great product, strong, light, fireproof, waterproof, etc... In hindsight we are all wise.

Peter

 

[Peter 14.7]

No, the media is too busy talking about asbestos poisoning everyone within 20 feet of an NBN cable and how many more $$$ it will cost the govt

Yes but the media feeds on what we want to hear.

We are programmed to look for risk as humans hence bad news makes the news. Good news dies because no one whats it. Most of the threads here are risk : case in point: Look at this title. I don't remember a VIC going OK or expanding thread?

Peter

 

[Peter 14.7]

I find that newspapers tend to print stories to suit the times and are not always balanced.

It would seem the NBN Co will be creating 7500 jobs next financial year, add to this the multiplier effect and in these times you would think that such a boost in employment would be worth reporting.

Perhaps it has been and I missed the story, have you seen this report?

Trouble is, to me, this is a secondary employer. These jobs relie on the NBN being made but who is funding it, us. The taxpayers $ is underwriting the BNB. It is stacked up business wise some Mega Telco would have bided to do it like in the failed tender.

I wan to hear, new Aussie technology to be made here, Solar Cell made here to sell world wide. Patent developed from Gov Funding means we outperform cheaper countries. We have these companies like:

http://www.cfcl.com.au

This is Aussie developed and made in Germany because our Gov will not provide rebates like they do for solar and wind because it burns gas and has some CO2.

I know personally that Harvey Norman was weeks away from a major roll out but Penny Wong said NO to rebates and it has withered in Australia almost going under. They have now listed in the UK and selling into Europe. Effectively the technology is be UK owned.

No people, here, we can only dig it up and sell it and when no one wants what we dig up, at the price we sell, we are in serious trouble. Including Property.

Peter 14.7