A mass exodus of staff recently from the Australian Grand Prix
Corporation, with some employment contracts not renewed. Among the
departures was Jonathan Caughey, the general manager who lost his
licence for drink-driving.
I’ve received information suggesting that Westpac at Concord are planning to sack approximately 400 out of 800 workers and take the jobs offshore.
Why has the business media been so quiet
on a proposed merger between two of the biggest steel manufacturers in
Australia? It seems that the ACCC is out to lunch on a cosy deal
between Smorgon Steel and OneSteel which would see them control between
80 to 100% of various steel product markets. What does that mean for
the cost of construction? No one from the big building companies wants
to talk about it – for fear of losing the sweet discounts they get at
the expense of the smaller players.
The boards of Police and Nurses Credit Society
(PNCS, mutual organisation) and Home Building Society (listed on ASX)
have made a secret agreement to merge by end of calendar year.