WA - are you ready...?

[sanj]

is this different to the one started in May? I am getting confused as they just seem to be in a constant state of it. along with constant rumours of a new one starting. as some bloke said to me yesterday, mining is all finished

I read yesterday or the day before that RIO has just made a whole lot of management redundant

 

[tambourineman]

I thought the man in a blue tie and red bathers has pledged to anull the carbon tax?

maybe carbon tax isnt the issue - maybe we just need to accept that China cant keep growing out of control with some sort of pull back - theyve got cities over there that are practically empty, roads to nowhere, a credit and property bubble and massive polution.

 

[tambourineman]

even my favourite real estate spruiker terry ryder gets it!

http://www.propertyobserver.com.au/...ce=po&utm_medium=aida&utm_campaign=upperright

this is despite his repeated denial about the slow down in mining - the guy suffers from muliple personalities.

 

[Crabnet]

I read yesterday or the day before that RIO has just made a whole lot of management redundant

Yes that was in yesterdays paper. Rio along with other miners looking for billions of dollars in cost savings as growth prospects look flat.

Quote:
"Up to 50 middle-to-senior manager roles were made redundant today at the base in Perth, the person said.

Most of the people affected will leave Rio Tinto, though some managers may move to other divisions, the person added.

The layoffs are part of an organizational restructure started a month ago by Andrew Harding, Rio Tinto's new head of iron ore, who replaced Sam Walsh in February, the person added. Mr Walsh stepped up to become the company's chief executive.

It is believed the cuts only affect the WA iron ore division, and do not affect Rio's smaller iron ore operations in Canada and Guinea.

The company has already shed hundreds of Australian staff over the past 12 months, after closing its Sydney office and losing many of the staff from within its Melbourne office

Rio has been expected to commit an extra $US5 billion worth of spending to its iron ore expansion program in WA later this year, and it was unclear if the latest round of redundancies will affect that decision."

 

[wealth]

The staff cuts in May was for offices in Sydney, Melbourne and UK (pretty much half was sacked in London).

The one happening as I type is in WA.

Although reports suggests the senior staff has been made redundant, but the people I know who got laid off at RIO are definately not senior.

 

[Ausprop]

even my favourite real estate spruiker terry ryder gets it!

http://www.propertyobserver.com.au/...ce=po&utm_medium=aida&utm_campaign=upperright

this is despite his repeated denial about the slow down in mining - the guy suffers from muliple personalities.

"About nine months ago we started warning investors to be wary of the Port Hedland market and other mega-priced markets in the north of Western Australia, including Karratha."

a little dig there at Karratha that has nothing to do with the rest of the article

"The median house price for Port Hedland was well above $1 million - which was ludicrous and, I thought, unsustainable."

'think' what you like, however if you want to 'know' try building a house there. you aint building a a 4x2 dream home in canning vale for $200k that's for sure. the concept of affordable in a suburban sydbourne comparison is comical, yet we persist...

 

[Deltaberry]

maybe carbon tax isnt the issue - maybe we just need to accept that China cant keep growing out of control with some sort of pull back - theyve got cities over there that are practically empty, roads to nowhere, a credit and property bubble and massive polution.

So where are these forecasts that are so readily available publicly?

 

[tambourineman]

So where are these forecasts that are so readily available publicly?

i see you havent forgotten!

who needs them - they have ceased production there havent they?

 

[hobo-jo]

Even Rudd has been calling end of the China boom since becoming PM (again).

 

[Ausprop]

economy needs an immediate .5 IR reduction. Once again, too little too late, always behind the 8 ball

 

[TomW]

One thing is for sure we will hear less talk about secession from the bogans in the west.

 

[HotRod]

One thing is for sure we will hear less talk about secession from the bogans in the west.

Now, you shouldn't have gone and said that.........

 

[Aaron Sice]

dunno why, Tom. it's still a perfectly valid idea.

 

[Ausprop]

probably because they have all flown home to Sydney and NZ

 

[Ausprop]

dunno why, Tom. it's still a perfectly valid idea.

yes it does make sense, tho NT, Qld and WA should be grouped together. SA could go either way. probably best to follow the WW2 line that ruled off the south east. It would be good for both countries, the south east could devalue their $ and be a supplier to the north west. the NW could break up into 20 or so states and fill up with 100 million or so people and finally be allowed to develop. the differences would be no different to that between Oz and NZ... it's not to be feared and should be embraced

 

[tambourineman]

economy needs an immediate .5 IR reduction. Once again, too little too late, always behind the 8 ball

Why do,you think this will make a difference when interest rates have dropped significantly in the last couple of years with little effect.

Interest rate decreases are now at a point of 'diminishing returns'

 

[James1234]

Try an alternative

Try a different marketing strategy for properties through;

www.plantorelocate.com

 

[Ausprop]

Why do,you think this will make a difference when interest rates have dropped significantly in the last couple of years with little effect.

Interest rate decreases are now at a point of 'diminishing returns'

IRs need to be set appropriately, the RBA has consistently held them too high. if they are too high they are too high. past failure is no excuse for continuing to fail

 

[TomW]

yes it does make sense, tho NT, Qld and WA should be grouped together. SA could go either way. probably best to follow the WW2 line that ruled off the south east. It would be good for both countries, the south east could devalue their $ and be a supplier to the north west. the NW could break up into 20 or so states and fill up with 100 million or so people and finally be allowed to develop. the differences would be no different to that between Oz and NZ... it's not to be feared and should be embraced

LOL this is the epitome of boganomics.

 

[HotRod]

LOL this is the epitome of boganomics.

No, just the frustration of having to support the rest of Australia.

How our GST being spent over east is just the tip of the iceberg.