Resourceville blues

[Leftofcentresalterego]

Bam! 600 jobs went in Gladstone today between the smelter and the new alumina plant. With such a large number of high paid jobs now gone (this is a small town) the flow-on effect will be serious.

Now watch Rio Tinto try to blame it all on the government for not approving the Chinalco deal straight off the cuff - nothing to do with Rio themselves taking on a massive debt while the good times were roaring away. The demand for the product has severely slumped, the primary alumina plant can probably supply the smelter's entire alumina need at this point in time. The jobs would have gone anyway.

[Leftofcentresalterego]

AWU thinks the real toll, including all those contracting to the plants could be more like 1100 jobs lost. FUCK!! That would be like a blow to the head with a sledgehammer for this little town. As JM and I have previously discussed, fishing village, here we come.

[Jovial Monk]

Yeah, heard about that this morning, the Ruddster's broadband announcement must have driven that out of my mind.

That is really going to hurt Gladstone!

For all the dicks, dweebs & racists (that includes Sheepy) that say "Oh, the chinks can't take a big stake in Rio!" tell me EXACTLY WHAT THE FUCK IS RIO SUPPOSED TO DO?

[Leftofcentresalterego]

I have always cautioned against having too many eggs in one basket. Rio owns (in Gladstone) Yarwun refinery, Boyne Smelter, part-owns the power station and part-owns QAL (dunno what it's called nowdays, it is the original alumina plant, at one time the largest in the southern hemisphere). This will blow a huge hole in local demand for goods and services, wiping out many other jobs in it's wake.

Just like last time (1990).

My supervisor did not look happy today. I know that her husband worked at the Yarwun refinery. I have not asked any questions.

[Aussie]

I have always cautioned against having too many eggs in one basket. Rio owns (in Gladstone) Yarwun refinery, Boyne Smelter, part-owns the power station and part-owns QAL (dunno what it's called nowdays, it is the original alumina plant, at one time the largest in the southern hemisphere). This will blow a huge hole in local demand for goods and services, wiping out many other jobs in it's wake.

Just like last time (1990).

My supervisor did not look happy today. I know that her husband worked at the Yarwun refinery. I have not asked any questions.

Yes, very bad for the Happy Rock. It has had it's up and downs but this one might really hurt.................for a while.

It is a fundamental part of the political/raw material export aspect of the Qld economy (the local State Member is an Independant) has a terrific harbour, and will never be abandoned.

It will bounce back.

In six months time, buy property in Happy Rock. Sell that in two years and make a very tidy profit.

[Leftofcentresalterego]

Yes it will bounce back, like it did last time and the time before that. Except that it didn't bounce, it slowly crawled back over a span of years. It is epheremal, like a desert that can wait many years for the rain to make it bloom again.

OK, enough with the metaphors, or I will have to take this post to the Shakesphere thread.

[Jovial Monk]

Easy how those with jobs can loftily say "it will bounce back." Not so easy for all those that lost jobs in Gladstone & elsewhere--if this goes on for over a year they can say goodbye to their house too!

[Jovial Monk]

ABC website:

Unemployment surges to 5.7 per cent

By Finance reporter Rebecca Hyam

Posted April 9, 2009 11:37:00
Updated April 9, 2009 13:17:00
There are now almost 651,000 people looking for work in Australia.

There are now almost 651,000 people looking for work in Australia. (ABC News: Giulio Saggin, file photo)

Australia's unemployment rate surged to 5.7 per cent in March, up from 5.2 per cent in February.

New South Wales was the hardest hit state, with the jobless rate surging from 5.9 per cent to 6.9 per cent in seasonally-adjusted terms, while there were also increases in Queensland, Victoria, South Australia and Western Australia.

Thirty-eight-thousand-nine-hundred full-time jobs were lost in March, while 4,200 part-time positions were created.

Not good! Worse elsewhere.

Out of all the economies, India's is still growing fast, perhaps offering some hope to us if exporters can find ways to sell to India.

[Leftofcentresalterego]

Fuck!! Another 300-500 jobs to be shed by Rio in Gladstone by the end of the week.

There isn't going to be anything left of my little town!

[Jovial Monk]

And the worst may still be to come: Chinese economy slowing! Not good news for our economy!

CHINA'S economy has stubbornly refused to respond to the Government's 4 trillion yuan ($805 billion) stimulus package, as first-quarter data shows the slowest growth in more than a decade.

http://www.theaustralian.news.com.au/bu ... 43,00.html

Now Chinese govt is going to build a major railroad and this should help our iron ore miners, but the lags involved show that the 'cash splashes' are needed to keep things going until the big infrastructure starts.