BHP halts Ravensthorpe mine, sheds 2,100 jobs - Page 2 - Perth-WRX.com

Smokey · #11 21-01-2009, 10:26 AM

Well the first step is to acknowledge it. This allows them to not do things which will make things worse, and to do other things that minimise the effects. Companys are going to close projects and lay off staff regardless, so they reduce their paper debt and look like theyre doing the right thing by shareholders.

Rudd increased the FHOG, which has definately stopped the ass of the property market falling out. Has already brought in tax cuts, put guarantees on the bank savings, attempting to save the motor industry.

Theres always going to be differences of opinions in how to execute desired intentions, but I think the major difference from howard, is that rudd isnt sittign around pretending nothing is wrong! I think he is a lot more well intentioned to better society than howard ever was.

Rio canned my project last week (Driverless Trains), but I still think they did the right thing. The real evil is the unrelasistic expectation from shareholders. Companys have been striving to increase share price for greedy investors, when instead, they need to aim for steady growth.

RIO/BHP are perfect examples of this. BHP fund their growth with cash capital at a steady rate, and RIO fund on loans. RIO canned projects to reduce debt, but BHP are obviously closing the nickel mine as it is no longer a profitable venture.

Sik em evo4 · #12 21-01-2009, 10:32 AM

Quote:

Originally Posted by Smokey

Well the first step is to acknowledge it. This allows them to not do things which will make things worse, and to do other things that minimise the effects. Companys are going to close projects and lay off staff regardless, so they reduce their paper debt and look like theyre doing the right thing by shareholders.

Rudd increased the FHOG, which has definately stopped the ass of the property market falling out. Has already brought in tax cuts, put guarantees on the bank savings, attempting to save the motor industry.

Theres always going to be differences of opinions in how to execute desired intentions, but I think the major difference from howard, is that rudd isnt sittign around pretending nothing is wrong! I think he is a lot more well intentioned to better society than howard ever was.

Rio canned my project last week (Driverless Trains), but I still think they did the right thing. The real evil is the unrelasistic expectation from shareholders. Companys have been striving to increase share price for greedy investors, when instead, they need to aim for steady growth.

RIO/BHP are perfect examples of this. BHP fund their growth with cash capital at a steady rate, and RIO fund on loans. RIO canned projects to reduce debt, but BHP are obviously closing the nickel mine as it is no longer a profitable venture.

WELL SAID !!

Hi_VoLtAgE · #13 21-01-2009, 10:58 AM

this would never of happened if liberals stayed in.

American Dave · #14 21-01-2009, 11:08 AM

Quote:

Originally Posted by Kato

I am highly biased, I know... But I would think the Howard government would have had a better economic plan than 'give a few bucks to some people to increase spending'. Bandaid solution only boosted the economy for a couple of weeks.

So far Krudd has spent more time out of the country since he was elected in than being here. Maybe it's time to start being the Prime Minister and looking after Australia's affairs?

BHP halts this mine, all the other business that feed off that mine will also have to lay off workers and the chain reaction grows. At the same time, these companies behind the mines are very happy to take all their projects off shore under the pretense WA is in a boom and can't do the work. The media talks about these billion dollar jobs going on, but are they being done in Australia (keeping the whole chain working)?

here you go Kato, Krudd just woke up and realised the shits gone bad while he was away
PM warns crisis will hit Australian jobs!

http://www.thewest.com.au/aapstory.a...oryName=545330

Smokey · #15 21-01-2009, 11:09 AM

just stumbled across this too, not a bad read

http://www.moneyandmarkets.com/why-w...pression-27968

Quote:

You Can Bring a Horse to Water
But You Cannot Make It Drink.

My father told me this story about President Herbert Hoover shortly after the Crash of ‘29 …

Hoover was worried about the sinking U.S. economy. So he called the leaders of major U.S. corporations down to Washington — auto executives from Detroit, steel executives from Pittsburgh, banking executives from New York.

And he said:

“Gentlemen, when you go back home to your factories and your offices, here’s what I want you to do. I want you to keep all your workers. Don’t lay any off! I want you to keep your factories going. Don’t shut any down! I want you to invest more, spend more, even borrow more if you have to. Just don’t do any cutting. So we can keep this economy going.”

Instead, the executives went back to their factories and offices and said to their associates:

“If the president himself had to call us down to Washington to lecture us on how to run our business, then this economy must be in even worse shape than we thought it was.”

They promptly proceeded to do precisely the opposite of what Hoover had asked: They laid off workers by the thousands. They shut down factories. They slashed spending to the bone.

And today, we’re beginning to see precisely the same phenomenon:

Washington is prodding consumers to borrow more, spend more, and save less. But consumers are doing precisely the opposite, as we just saw from the October collapse in retail sales.

Washington is prodding bankers to dish out more mortgage money, give people continuing access to credit cards, even lend money to sinking businesses. But the bankers are also doing precisely the opposite, as we just saw in a recent Fed’s survey of bank loan officers.

Why the reluctance to borrow and lend? Because most borrowers and lenders are finally beginning to recognize what really went wrong in the United States: Too much debt, not enough savings. They also recognize what they have to do about it: Try to cut back.

In response, Washington bureaucrats are rushing out, waving their arms frantically in the air, and shouting: “No! Don’t do that! We want you to lend and borrow more — so we can keep this economy going.”

But their pleas fall on deaf ears: No matter what the government says, it is the natural survival instinct of billions of people and businesses around the world that will determine the outcome: Depression and deflation."

BLUES · #16 21-01-2009, 11:22 AM

Kevin747

fmx_rider · #17 21-01-2009, 11:25 AM

rudd-gives-advisers-secret-bonus-report

His 29 y/o advisor must have been doing it tough on $192,000, now has pay rise to $250,000 pa.

Krudd should buy some nickel & copper instead of cutting taxes....