Australian (ASX) Stock Market Forum

I.R laws how have they affected you??

It's easy to have that attitude when you have the skills to back you up. I am a qualified electrical fitter, but it's been years since I saw a job advertised for an electrical fitter where I wish to work.

I spent 15 years working for a boss that didn't have your outlook, I was there for his benefit only. I didn't have the backing to work for myself so I had to put up with it. When I asked for long service leave, I was told that I couldn't have it all at once as it would harm his business. The next day I bit the bullet, gave notice and started my own business. If I had still been there, dependant on him with the IR laws as they stand I would be in a very difficult position.

Steve.

Its not the first time Ive seen your arguement. Ive also been approached by friends and friends family members with similar situations.

When they and I'm sure yourself are honest with yourself I'm sure you'll find as they all did that the issue was more one of FEAR of losing the income they need to live and support their family than it was to do with their employment situation.

Procrastination can be a silent killer as often we dont identify it.

But I'll bet you can associate with this----

"The best decisions are often the Most difficult to make"

The secret is in my veiw to Take control of YOUR life. This doesnt mean we all have to be employers but it does mean placing ourselves in a position where we CAN control our out comes best we can---regardless of what is thrown at us. To do this often we need to make very difficult decisions,even though they are staring us in the face!

How's business?
 
I have sacrificed overtime, leave loading and 1 RDO per month (as a function of changing employer then signing a new agreement a few weeks ago). My personal gross income is over 50% higher than it was 14 months ago...
don't get me wrong Mofra, Aus used to be the laughing stock of Asia when we told them we made more money on holidays (with leave loading) than we did at work ;)

But I still think that there's a principle being thrown out here - protection of the disadvantaged ( and we're not all supertechs, tech/a, lol) - and as John Button said, what happens if there's a downturn.

I am genuinely in two minds (which is about a minimum for my mind lol, poly- phrenia) -

Nor do I think that employers should be discouraged from taking on employees because of draconian anti-dismissal laws. As I posted elsewhere, I had my house on the line as a director of a company employing 36 people (at its peak) - but every now and again someone would rip you off, and you were therefore very cautious - and also spent far too much time discussing industrial relations matters etc with the blokes, instead of getting some swarf on the floor to help cover your costs. - and (in the final analysis) make a profit for everyone to share :2twocents
(PS that company since disbanded, you wonder why Im broke lol)
 
I'm a product of the early eighties recession when it was almost impossible to find a job.
This boom will come to an end one day and when it does these AWA's will really get used to their full potency.
I am very worried about these laws as is over 200 other people i work with.
I know for fact that a lot of these peole did not vote for Labour at the last election the same as me.
Almost all have indicated they are sick of Howard and his lies and are very scared of these AWA's being forced on us when our EBA runs out.
They will ( including me - i have not voted Labour in over 10 years ) vote Labour at the next election to protect their incomes and jobs full stop.

Cut wages and people do not spend.
People not spending will lead to a slow down.
Slowdowns lead to lay offs.
Lay offs will lead to retraction in the economy.
A prolong retraction of the economy will lead to recession.
 
I'm a product of the early eighties recession when it was almost impossible to find a job.
This boom will come to an end one day and when it does these AWA's will really get used to their full potency.
I am very worried about these laws as is over 200 other people i work with.
I know for fact that a lot of these peole did not vote for Labour at the last election the same as me.
Almost all have indicated they are sick of Howard and his lies and are very scared of these AWA's being forced on us when our EBA runs out.
They will ( including me - i have not voted Labour in over 10 years ) vote Labour at the next election to protect their incomes and jobs full stop.

Cut wages and people do not spend.
People not spending will lead to a slow down.
Slowdowns lead to lay offs.
Lay offs will lead to retraction in the economy.
A prolong retraction of the economy will lead to recession.

At the risk of being crucified, how do people think we should curb the wage growth that has led to the Australian worker being uncompetitive with the emerging economies? Australian labour is among the most expensice in the world. Trades people are making more than experienced managers in many cases. In manufacturing, margins are tight because of, among other things, high labour cost. This is forcing many manufacturers off shore.

Reasonable wage growth is acceptable, but unions negotiating wage increases far above the CPI increase serves no purpose other than to eventually price thier recipients out of a job.

What really gets me annoyed is when these same people invest in shares. What do they think companies will be doing to increase shareholder returns? Increase wages? Hire more people? Companies will outsource, automate, find cheaper labour, cheaper materials, usually to the detriment of Australian workers.

The only thing supporting higher wages at the moment is the tight labour market. Once demand for the resources wanes, so will the jobs, and the labour market will be flooded with supply.

What will Australia have to give if it cannot compete in manufacturing at all, and the demand for minerals tops out?

I don't agree with everything the libs have done either, but what do you suggest the people of Australia need to do to curb unsustainable wage growth?

Cheers,
 
I totally agree with crazy canuck.What happens to the Small Businesses when the economy contracts if we go back to increased wages and inflexible conditions? As small business owners we may not only lose our job but also personal assets.
 
At the risk of being crucified, how do people think we should curb the wage growth that has led to the Australian worker being uncompetitive with the emerging economies? Australian labour is among the most expensive in the world.

...The only thing supporting higher wages at the moment is the tight labour market. Once demand for the resources wanes, so will the jobs, and the labour market will be flooded with supply.

What will Australia have to give if it cannot compete in manufacturing at all, and the demand for minerals tops out?

I don't agree with everything the libs have done either, but what do you suggest the people of Australia need to do to curb unsustainable wage growth? Cheers,
Then there's the countless number of news items along these lines ;)
Unsutainable wage growth includes unsustinable growth in directors fees.
http://www.abc.net.au/news/newsitems/200311/s981160.htm
Govt should block Telstra directors' pay rise: Opposition
The Federal Opposition is demanding the Government use its majority stake in Telstra to block a proposed 15 per cent increase in directors' fees.

The proposal will be put to Telstra's annual general meeting in November. Telstra has told a Senate committee today the fees have not been increased for four years, and would still be well below those of comparable organisations.

But Labor's Lindsay Tanner says it is not acceptable. "Ordinary Australians are sick and tired of corporate cowboys with their snouts in the trough and under John Howard, it's not just the private sector, it's the Government's own organisation Telstra that's demanding a 15 per cent pay increase, even though it's presided over declining performance," he said.

The Government says it has not decided whether to support the proposed increase.

http://www.abc.net.au/news/newsitems/200209/s684918.htm
Commission hears former director billed HIH just before collapse
The HIH Royal Commission has heard one of the directors billed the insurer for hundreds of thousands of dollars in consulting fees in the days before the company collapsed.

The inquiry has heard claims of a frantic race against the clock as former HIH director and consultant Charles Abbott attempted to claim his consulting fees in the company's dying days.

The commission has been shown numerous invoices totalling hundreds of thousands of dollars worth of fees and expenses lodged by Mr Abbott on the weekend before the liquidators were called in.

But the witness denied he took such action because he knew HIH was on the brink of collapse. He was questioned about one particular invoice which detailed work he had yet to do, however Mr Abbott claimed he had not noticed the error. He also rejected claims by counsel assisting that he had improperly used his position as director to obtain a benefit over other unsecured creditors.

Does anyone remember Ted Mack :) - now there was a man of principle. Retired two days before he was entitled to what he considered to be overgenerous superannuation payout - what a man !!:)
http://en.wikipedia.org/wiki/Ted_Mack_(politician) Mack began to take an interest in politics in 1970 after the North Sydney Council approved construction of a 17-storey office block against his back fence. He subsequently ran for election to the council in 1974 and was successful, serving until 1988. He was elected Mayor of North Sydney in 1980, holding the position until his retirement from council in 1988. During his term as mayor, Mack sold the mayoral Mercedes-Benz car, buying buses instead and instituting reforms to improve accountability.

In 1981, Mack decided to shift into state politics, and ran as an independent for the recently created New South Wales Legislative Assembly seat of North Shore.[1] He was successful in what would normally have been a safe Liberal seat, and served as a state MP until 1988, when he retired two days before he was due to qualify for his parliamentary pension entitlements, as a statement against the excesses of public political office.

After two years of being out of politics, Mack achieved even broader fame by winning the federal seat of North Sydney in 1990, defeating incumbent Liberal MP John Spender. During his time in federal politics, Mack opposed the unilateral removal of tariffs, privatisation, Australian involvement in the Gulf War and the appointment of an Indonesian General as Ambassor to Australia. Mack retired at the 1996 election for the same reasons he had quit state politics eight years previously.

Mack was elected as an independent Republican delegate to the 1998 Constitutional Convention. He opposed the model favoured by the Australian Republican Movement. Along with Clem Jones, he is a director of Real Republic, and is known to be a proponent of Citizen Initiated Referenda.

Despite living nearby, for a time he refused to travel across the Sydney Harbour Bridge or through the harbour tunnel in protest at the secret contract and awarding of all tolls to Kumagai Transfield for 30 years.[2]
 
Good point on the director and CEO fees 20/20, i agree totally.

Cheers,
 
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