MESSAGE FROM OUR CEO

PENALTY RATES: “Cuts to Sunday penalty rates for hundreds of thousands of workers will start within weeks but will be phased in over two to three years.” Reports The Australian, June 5, 2017. However, ‘Unions will take Sunday penalty rates cut to court’ reports The West Australian, 6 June 2017. “Unions have vowed to fight plans to cut Sunday penalty rates for some of the nation’s lowest-paid workers as employers complain they will struggle without a quicker reduction in wages.

However, The Australian 7.6.17 reported: “The Australian Chamber of Commerce and Industry said the increase risked the job prospects of vulnerable people. Jenny Lambert, the chamber’s director of employment, education and training, said small businesses had a limited ability to pass on the wages cost to consumers, and “so are forced to reduce costs through cutting jobs or other ­investments in their business”.

(See reports below)

JAIL THE BOSSES: Reports The Australian, June 6, 2017, “Unions are ramping up a campaign for legislative action to tackle wage theft, calling on the Coalition and the ALP to back the publication of a national register of companies found to have ­engaged in the deliberate under­payment of workers. ACTU president Ged Kearney said on social media last week that “wage theft should incur criminal charges”.”

Sauce for the goose is sauce got the gander. Then Shorten and the other unions that ripped off their members through doing EBA deals, to pay wages at less than the awards, with bosses should also be jailed. And, pigs might fly!!

DOOM & GLOOM REVISITED: Notwithstanding that we commented in our last Broadcast on NAB’s Alan Oster, who was reported in The Australian on 1.6.17, stating that: “The nation’s fragile retail sector is already in recession . . . and this could drag the economy down as anxious consumers rein in spending on discretionary goods such as fashion and apparel. Mr Oster described retail as being in a “terrible’’ state.

He seems however to have achieved a double back flip with pike according to a report by SmartCompany, on May 9, 2017, that states: “The NAB Monthly Business Survey for April revealed on Monday its business conditions index had risen two points for the month, with chief economist Alan Oster observing confidence in the overall conditions were “quite a bit stronger than expected”.

To add to the confusion, The Australian, 6.6.17, reported: “Australian company profits rose by 6.0 per cent in the first quarter of 2017, from the previous quarter, the Australian Bureau of Statistics said. That reflected a 13 per cent increase in mining-company profits following a rebound in coal and iron-ore prices, which has since faded. Company profits rose by 39.7 per cent from the year-earlier quarter, it added. Meanwhile, the value of inventories, or stocks, held by Australian companies increased by 1.2 per cent, the ABS said. Both sets of figures beat expectations.

CONFUSED???