Rather than boosting minimum wage, should we talk about a maximum?

Many chief executives are paid huge salaries even when their companies are losing money. Photo: Erin Jonasson
Interesting article about the rising income levels of CEOs and senior executives, and the consequent decline in the earnings capability of the poor buggers at the bottom of the pile.
But what happens when there are not enough people at the bottom of the pile in Australia, for example, to buy all the products and services delivered by all these mega corporations? People need a decent stable income to buy all these expensive products and especially all the housing being thrown up. I dont think the poor bloody marginalised workers well stand by for much longer watching the housing industry geared to servicing the needs of affluent immigrants or off-shore investors.
Similarly the cost of using tool roads in Sydney will be far too high for battlers and casualized workers with no job security! There is more to managing the growth of Greater Sydney and the whole of Australia than just getting the economy working well for the “top end of town”!
A bit radical I know. But we did have a miners revolt in Ballarat when the Governor tried to ignore the poor bloody miners, and disregarded the impact of higher cost mining licences. Their comes a point when the system breaks if it is only designed to maximise economic outcomes, and ignores equity, social impact and heritage/history issues. Me thinks the NSW Govt under Bulldozer Baird suffered the backlash of applying too much of his banking background to the challenges of government and politics.
Just saying…

John Young
14-may-2017

Bank tax sets ‘wonderful precedent’

 

 

http://www.smh.com.au/business/banking-and-finance/bank-tax-sets-terrible-precedent-westpac-chairman-lindsay-maxsted-20170512-gw3jq1.html

Contrary to Lindsay Maxsted, Chairman of Westpac, it is a wonderful precedent to make the big 5 banks pay extra taxes after ripping off the customers so throughly to achieve record profits!

I have a solution to the banks’ problem with the new tax on the top 5 banks. Let them pay it out of the highly inflated salaries and fees of the Chair, Directors, CEOs and senior management teams. Then they wont have to pass it onto their shareholders and customers!

And just look at the connections Lindsay Maxsted, Chairman of Westpac.  Talk about nose in the trough!

https://www.crikey.com.au/2012/12/11/the-power-index-biz-directors-lindsay-maxsted-at-4/

 


John Young
14-may-2017

Joe Hockey’s role in the downfall of Tony Abbott

I enjoyed reading this commentary on the 2017 Budget, especially the reference to the disastrous 2017 Budget. It highlights the role of Joe Hockey in the failure of Tony Abbott as a Prime Minister, after his success as a formidable Leader of the Opposition
 
“But the other thing this budget needed to do was draw a line under the catastrophic political disaster that was the 2014 budget of Joe Hockey”

John Young
11-may-2017

Why do ambitious plans for public land always get developed in extreme secrecy?

It always amazes me when I see yet another major planning scheme, which involved Crown Land, being developed behind a curtain of total secrecy.
 
The mention of Carsingha Investments, a consortium of 10 business men and women including Gerry Harvey, John Singleton, Sydney Swans chairman Andrew Pridham, and Swan’s board member Greg Paramour, gives warning to the general public that a clique of well connected top end of town power brokers smell a juicy profit, from taking advantage of publicly owned land resources for private profit!
 

John Young
2-may-2017

Just 2 more weeks before Scott Morrison makes a mess of 2017 Budget

 
This article by Alan Austin in the Independent Australia web site totally demolishes the claims that the Liberals can claim that they are better manages of the economy.
.
If you don’t have time to read the whole article at least read these final  paragraphs.
Morrison is correct to note that borrowing to build infrastructure is strategic. IA has consistently maintained this position — usually when rebutting Coalition attacks on Labor’s record of calculated borrowing through the GFC.
 
What is clear today from the Bureau of Statistics and other sources is that infrastructure spending is now at record lows. The current expansion of debt is almost entirely due to the Government’s failure to collect taxes due from corporations now reporting record profits.
 
Hence the Coalition’s debt is nearly all bad. No amount of spin can conceal that. But it seems they will try anyway.

John Young

30-apr-2017

The Female Larrikin

http://www.smh.com.au/entertainment/tv-and-radio/qa-recap-germaine-greer-takes-aim-at-the-odd-new-citizenship-test-20170424-gvrlcj.html

I have to admit I never understood what Germaine was going on about when she was being interviewed regularly on This Day Tonight (TDT) on ABC TV in the late 1960s and early 1970s.
But she was always thought provoking and her larrikinism made you feel proud that an Aussie could make the world sit up and listen to what she was saying in her writing, including “The Female Eunuch”.

John Young
25-apr-2017

The NSW Govt is still fixated on motorway mega projects, where there is no control on the cost!

 

 

 

This sounds like a good plan! But wait it gives far less value capture opportunity for Liberal mates in the Property Council of Australia, Urban Task Force, Committee for Sydney, CIMIC and MTR Corp from Hong Kong. So it will go nowhere, I am sure.

Tunnel visionary

After boasting for years that the WestConnex motorway would relieve traffic congestion, conveniently omitting the word “temporarily”, the government has now reportedly succumbed to the fact that a western harbour tunnel is required “because traffic from the motorway would otherwise overwhelm the Anzac Bridge” (“WestConnex bill to soar past $45 billion”, April 15-16).

A two-track Metro between the Bays Precinct and Seaforth via the Wynyard “tram” platforms could be built for half the tunnelling costs of a four-lane motorway. Killing numerous birds with one stone, it would form stage one of the planned “Western” Metro between Badgerys / Parramatta and Brookvale / Warriewood / Frenchs Forest.

Kevin Eadie
Drummoyne
SMH LETTERS  17-apr-2017


John Young
17-apr-2017

Will the veil of secrecy around WestConneX really be penetrated?

Finally it looks like some of the veil of secrecy around the politics, influence peddling, cost blow-outs, project creep, governance and risk management design may get lifted.
 
The arrogance of Baird in structuring SMC as a private venture in order to screen it from public inquiry still amazes me. But I am sure they the Berejiklian Govt will continue manipulating the story so that very little of the critical facts emerge in a way that causes them embarrassment.
 
I hope the media listens very closely on behalf of the public and roots around in the murky shadows of this enormous project to get at the truth.

John Young

17-apr-2017

Why should businesses tenants along the light rail route have to suffer huge losses?

Where is the truth in the quality and quantity of support and compensation that the NSW Govt and the main contractor for Sydney Light Rail is offering small businesses along the route?
 
Bulldozer Baird was forced to apologise for the way property owners were treated along the route of the WestConneX, especially in Haberfield.  Is Madame Gladys going to be doing the same mea culpa in a few months time as it becomes evident are forced to close or suffer bankruptcy? 
 
Are property owners who have now been displaced in St Peters being treated any better than the poor buggers were in Haberfield?
 
I think the NSW Govt should publish details of the support being offered to these small businesses in Surry Hills along the route of Sydney Light Rail.  The property owners may be looked after, but it sounds like bugger all is being done for the tenants of shops, cafes and restaurants, who are still having to pay large rents!
All that seems to have been done so far is a series of media release spins, and a lot of platitudes from the Ministers and Premier. What is the substance of what is being done for these business owners?
 

John Young

15-apr-2017

Privatization of the LPI is a serious waste of money!

Letter from Harold Levien, SMH Friday 14-apr-2017
The sale of the Land and Property Information (LPI) registry is so against the interests of the citizens of NSW that this state government deserves to be dismissed (“Berejiklian hails $2.6b land titles windfall”, April 13).
 
Leaving aside both the idiocy of using $1 billion of the sale to upgrade three stadiums, when public schools and public hospitals are crying out for funds, upgrades and huge backlogs in repairs, and the loss of such an important institution to government control, the state will actually lose funding from the sale.
 
It would cost the government no more than around $78 million annually to borrow these funds. But since the registry currently generates $130 million profit a year, this would still leave the government around  annually in the black while retaining control of this important office.

Harold Levien, Dover Heights

 


John Young

14-apr-2017