Wayne Swan, can you beat that?

[noirua]

Wayne Swan Treasurer speaks: Suggesting mining companies should not layoff staff and instead should reduce hours. Russia and the Ukraine are doing this and the UK may follow. Should Australia as a major mining country do the same?

A reply, in a decision by UK Corus steelwork staff, seems to say, "Go for it Wayne and make them reduce hours and/or pay."

Corus workers and unions have agreed an 11.5% reduction in pay in a reduction in shift premiums. This affects 1,400 workers in Scun'horpe and Teeside.

 

[Aussiejeff]

Wayne Swan Treasurer speaks: Suggesting mining companies should not layoff staff and instead should reduce hours. Russia and the Ukraine are doing this and the UK may follow. Should Australia as a major mining country do the same?

Maybe Russians & UKrainians don't mind working vastly reduced hours for a pittance. Do they have the dole?

Maybe here in OZ it would pay the miners more to hit up Centrelink than work for a few pesos a week?

And maybe Swaaaaannie, how I love ya, how I love ya, my dear ol' Swanieeee is just a tiny tad worried about the REAL unemployment rate going forward (not the fudged, tweaked twaddle the hoi poloi are fed by the Gummint to smo-o-o-o-th and allay fears that things might not be travelling as well as they are trying to make it appear...)?

2009 - AnAus HorribilUS.

Merry Xmas :santa:

 

[noirua]

Maybe Russians & UKrainians don't mind working vastly reduced hours for a pittance. Do they have the dole?

Maybe here in OZ it would pay the miners more to hit up Centrelink than work for a few pesos a week?

And maybe Swaaaaannie, how I love ya, how I love ya, my dear ol' Swanieeee is just a tiny tad worried about the REAL unemployment rate going forward (not the fudged, tweaked twaddle the hoi poloi are fed by the Gummint to smo-o-o-o-th and allay fears that things might not be travelling as well as they are trying to make it appear...)?

2009 - AnAus HorribilUS.

Merry Xmas :santa:

I saw a programme about the Russian steel industry where wages were reduced by 50%. There was an increase in suicides amongst those with debt. Others said they only had enough money left for food but would see it out until better times arrive.

 

[Aussiejeff]

I saw a programme about the Russian steel industry where wages were reduced by 50%. There was an increase in suicides amongst those with debt. Others said they only had enough money left for food but would see it out until better times arrive.

I admire their patience and fortitude - that could take a loooong time. What other choice do they have? Does Russia have equivalent to Centrelink?

 

[noirua]

I admire their patience and fortitude - that could take a loooong time. What other choice do they have? Does Russia have equivalent to Centrelink?

One country I have never been to is Russia and I haven't spoken to a Russian knowingly. These steel companies look to be in something similar to the larger outback towns and moving elsewhere to work does not look like an option.
There could be someone at ASF who knows more, hopefully.

 

[noirua]

Australia's top financial person is of course, Treasurer Wayne Swan. Speaking of his sadness about the loss of 6,000 jobs as BHP rundown their mines... Did he really not know this was going to happen? If not, he was one of the few following markets worldwide who didn't expect it.

WS must have realized the whole mining sector was going to be affected, from the smallest to biggest.
As he must have known this, he should ask himself why he did little about it.

WS should have immediately become involved with the financial side of the mining sector. He could have helped save jobs by following the line of the UK's Corus (pay reduced by 14%) and pressured for reduced pay, and thereby saved a lot of jobs.

The Government efforts to boost the economy have been far short of what is needed. The Government should have put the pressure on and made it clear interest rates should be around 1% now. All the soft shoe shuffling whilst Australia burns is just not good enough.

 

[Aussiejeff]

Australia's top financial person is of course, Treasurer Wayne Swan. Speaking of his sadness about the loss of 6,000 jobs as BHP rundown their mines... Did he really not know this was going to happen? If not, he was one of the few following markets worldwide who didn't expect it.

WS must have realized the whole mining sector was going to be affected, from the smallest to biggest.
As he must have known this, he should ask himself why he did little about it.

WS should have immediately become involved with the financial side of the mining sector. He could have helped save jobs by following the line of the UK's Corus (pay reduced by 14%) and pressured for reduced pay, and thereby saved a lot of jobs.

The Government efforts to boost the economy have been far short of what is needed. The Government should have put the pressure on and made it clear interest rates should be around 1% now. [size=+1]All the soft shoe shuffling whilst Australia burns is just not good enough.[/size]

Oh, I dunno.

DWTS nominees SuperKRudd & his svelte partner, the delightful Swan-ee seem to be smugly self-satisfied with the rate of burn, baby burn they have achieved thus far in the World Ballsup Championships.

They got a score of 7/10 for the Soft Shoe Shuffle.

Let's see how they go when things hot up on the dancefloor in the Tango....

 

[noirua]

Australia's top financial person is of course, Treasurer Wayne Swan. Speaking of his sadness about the loss of 6,000 jobs as BHP rundown their mines... Did he really not know this was going to happen? If not, he was one of the few following markets worldwide who didn't expect it.

WS must have realized the whole mining sector was going to be affected, from the smallest to biggest.
As he must have known this, he should ask himself why he did little about it.

WS should have immediately become involved with the financial side of the mining sector. He could have helped save jobs by following the line of the UK's Corus (pay reduced by 14%) and pressured for reduced pay, and thereby saved a lot of jobs.

The Government efforts to boost the economy have been far short of what is needed. The Government should have put the pressure on and made it clear interest rates should be around 1% now. All the soft shoe shuffling whilst Australia burns is just not good enough.

So bad are the troubles at UK's Corus steel company that the deduction of bonus plan leading to a drop of 14% pay: Has proved not to be enough.

An announcement will be made on Monday cutting the worldwide workforce by 3,500 (2,500 in the UK), so the BBC has said.

Further talks are in progress to reduce pay and a request to the UK Government to help pay part of the staffs wages.

Corus has been hit by the sudden drop in the price of steel since last September due to the dramatic dive in demand for new cars.