For decades I wore a particular Berlei br- as it was the best designed and constructed on the market, if more expensive than most. Suddenly, a few years back, the quality changed. The lace became thinner and inferior, the under wiring became weak and collapsible, and the elastic — - my God, the elastic —  — became thin, inflexible, and lasted for mere moments. The price, of course, remained the same. Br-s that with care, lasted years, now lasted for scant months The result is that I stopped buying Berlei, opting for a comparable, equally inferior product, at half Berlei’s price.

Now I learn that government subsidised this company. For what, and for whom, I ask? Did government think to ask consumers why sales were plumetting?

Willingly would I have continue to pay for a good product. As it is, I recently decided to order my br-s from a reputable overseas manufacturer, to my precise measurements, and enjoy the excellent quality which Berlei stupidly abandoned, for short term gain, presumably.

My experience suggests that Pacific’s troubles have little to do with the current financial chaos, but more to do with inept management decisions.

I pity the poor workers, who, as usual, had little to say, but who will suffer the consequences.

How come banks won’t lend?
They have all the money from mutual funds thanks to Rudd.
What are they going to do with it?
Put it in a vault and swim in it, like Scrooge Mac Duck?

“Pacific Brands is one of the largest marketers of basic consumer brands in Australia and New Zealand. Pacific Brands was acquired from the public company Pacific Dunlop for A$730 million (US$557.5m) in 2001 in one of the largest leveraged buyouts undertaken in the Australian market.
The transaction was financed by A$235 million (US$179.5m) in equity provided by CVC and Catalyst, as well as by debt facilities. Under private equity ownership,
management focused on productivity growth and improving the level and quality of earnings. Private equity investors exited through a listing on the ASX in April 2004 at an enterprise value of A$1730 million (US$1321.2m) and a market capitalisation of A$1250 million (US$954.6m). Equity investors earned an IRR of
105 per cent and 5.1 times their initial investment.”
http://209.85.175.132/search?q=cache:zKXOpOqrs3sJ:www.forocrearcit.secyt.gov.ar/recursos/legislacion/Australia%2520IR_FS_VentureCapitalDataFile.pdf+pacific+dunlop+brands+70+million+from+government&hl=en&ct=clnk&cd=4&gl=au

The dole is a bit less than $255 I think., many things like savings can influence the rate.
Still, good social policy, a lot cheaper than jail, at $255-$600 a day.