Australian (ASX) Stock Market Forum

The state of the economy at the street level

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SirRumpole said:
Free market capitalist ideology promoted by both parties, starting with Hawke/Keating reducing tariffs and continued with a reluctance to support Australian businesses with the mantra "the market will fix it".

Well, the market has stuffed it (us) afaic, and we need to get real about what other countries are doing with subsidies, tariffs etc and put the ideology aside.
Click to expand...
I believe Keating did bring us the Howard golden years..
But we are now and since late Howard into socialism.. Kennet vs Victoria 2024.
On a nation scale
 
Purely for the data as we are all aaare of the site bias
www.macrobusiness.com.au

Baby boomers take their wallets overseas

The latest data from CBA, released last month, showed that older Australians are spending freely while younger Australians are cutting back. As illustrated above, Australians aged 70-plus increased their spending on discretionary categories by 8.0% in the year ended 30 September, nearly three...
www.macrobusiness.com.au www.macrobusiness.com.au
 
www.macrobusiness.com.au

Restauranteurs demand visa slaves

Sydney restauranteurs have urged the federal government to increase immigration to alleviate the alleged labour shortages in the industry. “A report released by Business NSW on Wednesday found eight in 10 businesses have had to boost pay or offer better conditions over the past year to stay...
www.macrobusiness.com.au www.macrobusiness.com.au


Its hilarious to watch greedy business owners complain about how we need to import more foreigners because "nobody here wants to work". Its absolute nonsense. People would be happy to work in hospitality if pay and working conditions were better. I have worked hospitality in the past and left to work in other industries for higher pay and better working conditions. Its not that there won't be enough people to work. There won't be enough people to work with the current shocking labour conditions and low pay. Companies will adjust by paying more and treating staff better. And honestly most customers would not object to paying 5% more for their meals if it meant pay and working conditions for employees were good and the industry focused on employing local talent. The customers would end up getting better service by paying that little bit more.

But apparently restaurants will shut down if they don't get access to foreign slave labour. Just like farmers cried a few years ago about how if they had to pay the actual legal minimum wage instead of scamming the system via the loophole of per kilo piece rates they would go out of business. But it was also just nonsense and the farming industry adapted just fine.

So many problems in Australia could be resolved by just clamping down on immigration (including student visas and backpackers, etc).
 
Alan Kohler has some interesting things to say on Aussie households ' current disposable income . ( Nearly the worst in the world , along with N. Z. )

Catch his other stuff e.g. RBA and interest rates , housing crisis , immigration , sharemarket and so on , in the first hour of Tuesday 3 rd Dec. ABC Radio 's podcast of its " NIghtlife " program .
 
qldfrog said:
Purely for the data as we are all aaare of the site bias
www.macrobusiness.com.au

Baby boomers take their wallets overseas

The latest data from CBA, released last month, showed that older Australians are spending freely while younger Australians are cutting back. As illustrated above, Australians aged 70-plus increased their spending on discretionary categories by 8.0% in the year ended 30 September, nearly three...
www.macrobusiness.com.au www.macrobusiness.com.au
Click to expand...
God forbid those foreigners get the old folks retirement nest egg , before the CBA erodes it to nothing with fees and charges
 
Value Hunter said:
www.macrobusiness.com.au

Restauranteurs demand visa slaves

Sydney restauranteurs have urged the federal government to increase immigration to alleviate the alleged labour shortages in the industry. “A report released by Business NSW on Wednesday found eight in 10 businesses have had to boost pay or offer better conditions over the past year to stay...
www.macrobusiness.com.au www.macrobusiness.com.au


Its hilarious to watch greedy business owners complain about how we need to import more foreigners because "nobody here wants to work". Its absolute nonsense. People would be happy to work in hospitality if pay and working conditions were better. I have worked hospitality in the past and left to work in other industries for higher pay and better working conditions. Its not that there won't be enough people to work. There won't be enough people to work with the current shocking labour conditions and low pay. Companies will adjust by paying more and treating staff better. And honestly most customers would not object to paying 5% more for their meals if it meant pay and working conditions for employees were good and the industry focused on employing local talent. The customers would end up getting better service by paying that little bit more.

But apparently restaurants will shut down if they don't get access to foreign slave labour. Just like farmers cried a few years ago about how if they had to pay the actual legal minimum wage instead of scamming the system via the loophole of per kilo piece rates they would go out of business. But it was also just nonsense and the farming industry adapted just fine.

So many problems in Australia could be resolved by just clamping down on immigration (including student visas and backpackers, etc).
Click to expand...

I was told that most hospitality staff are on $40 - $50 per hour, plus extra for weekends and holidays. The chef and cooks are on more.

That's probably why it costs $30 for a basic pub meal and $8 for a schooner these days.

How many meals does a pub need to sell to pay the wages, electricity, rent, etc?

Too many. Hence the smaller portions and limited choice these days.
 
qldfrog said:
Not rosy reading but , from their ABC
www.abc.net.au

Redflow was the great hope of Australian manufacturing. Its collapse left customers with broken batteries

Redflow had political backing and a soaring ambition to sell energy storage to the world, but its $10,000 batteries regularly failed within months of installation leaving customers out of pocket.
www.abc.net.au www.abc.net.au
In summary, do we even have the expertise and know how to do more than cattle, grain and digging/shipping dirt?
Click to expand...
Not with our dismal education sytem, which for the last 15 years had dumbed down standards, to facilitate everyone getting through and coming out with a participation degree IMO.

The chickens are coming home to roost. Lol
One has to wonder if a lot of these companies are just playing the politicians and creaming the subsidies.

As I've said, encourage a major manufacturer to set up a plant here, bur in reality I tend to wonder if this transition isn't just a story that was used for some plliticians to top up their super.
Let's see what happens after the next election and who pulls the pin, Bill at least has been up front, interesting to see what Albo and Chris do.
 
mullokintyre said:
The Batteries had always been made in Thailand, and they had persistent supply quality problems in the raw materials which transferred into the finished product.
It was one of the reasons that they decided to shift manufacturing back to OZ.
There is no garauntee of course that had they managed to get the batteries manufactured here it would have alleviated their quality control problems.
This company has cost me a lot of money, not just in the capital loss I made on the shares, but also the fact that I am going to have to replace the two batteries I have with something else.
The two batteries plus installation were about $25,000.
Will have to spend at least that much again.
Mick
Click to expand...
MY oldest son, same as you wanted to use Redflow, thankfully they never responded to his emails and he installed BYD batteries in the off grid system, it's now about 3 years and still running well.

This is the problem when money is being thrown willy nilly at ideological agendas.
This whole loonie left wave, is turning into a huge dumper IMO.

As usual it is begining to go down the usual path, of a great idea that crashes to earth due to pizz poor planning and implementation.
 
qldfrog said:
Purely for the data as we are all aaare of the site bias
www.macrobusiness.com.au

Baby boomers take their wallets overseas

The latest data from CBA, released last month, showed that older Australians are spending freely while younger Australians are cutting back. As illustrated above, Australians aged 70-plus increased their spending on discretionary categories by 8.0% in the year ended 30 September, nearly three...
www.macrobusiness.com.au www.macrobusiness.com.au
Click to expand...
Whay do they want the baby boomers to do spend nothing of what they saved during their working lives, so that they can pay for their own aged care as well. Lol
 
JohnDe said:
I was told that most hospitality staff are on $40 - $50 per hour, plus extra for weekends and holidays. The chef and cooks are on more.
Click to expand...
As someone who has recently worked in the hospitality industry (as a second job/side hustle) I can tell you its absolute nonsense. Who told you this? And one look at Job ads on seek will confirm it.

Most restaurants and hotels pay the hospitality industry award (HIGA) which has a base rate of $26 per hour for permanent wait staff (and slightly more for cooks, etc) and $32 base rate per hour for casuals. Around the same for stewards, hosts, etc. Line cooks will be paid slighlty more. Most chefs will be on salary and do a decent amount of unpaid overtime.

Sure there are some accomplished career waiters with 5 - 15 years experience working full time at famous fine dining restaurants earning a $35 - $40 per hour base rate but that would be less than 5% of wait staff in the industry.

The typical hourly rate for a Chef probably works out to something around $35 average rate once you factor in the unpaid overtime they do as a a salaried worker (the majority are on salary) and maybe around $40 average rate for a head chef unless you are talking about a head chef at some prestigious fine dining restaurant or 5 star hotel, etc which would be on more money.
 
Value Hunter said:
As someone who has recently worked in the hospitality industry (as a second job/side hustle) I can tell you its absolute nonsense. Who told you this? And one look at Job ads on seek will confirm it.

Most restaurants and hotels pay the hospitality industry award (HIGA) which has a base rate of $26 per hour for permanent wait staff (and slightly more for cooks, etc) and $32 base rate per hour for casuals. Around the same for stewards, hosts, etc. Line cooks will be paid slighlty more. Most chefs will be on salary and do a decent amount of unpaid overtime.

Sure there are some accomplished career waiters with 5 - 15 years experience working full time at famous fine dining restaurants earning a $35 - $40 per hour base rate but that would be less than 5% of wait staff in the industry.

The typical hourly rate for a Chef probably works out to something around $35 average rate once you factor in the unpaid overtime they do as a a salaried worker (the majority are on salary) and maybe around $40 average rate for a head chef unless you are talking about a head chef at some prestigious fine dining restaurant or 5 star hotel, etc which would be on more money.
Click to expand...

Maybe my 19 year old niece was one of the lucky ones, she was on $38,50 per our last year. Left the job for an apprenticeship and the basic wage that comes with it.
 

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