Complaints about Carbon Tax: Australian Competition and Consumer Commission (ACCC) has had 630 complaints and inquiries related to the carbon tax since July 1, 10% of the 8350 general complaints. 250 of the inquiries were about how the carbon price would impact electricity and gas bills. [CR: If there is change, it will come from business pressures, not consumer.]
Brisbane to host the G20 in 2014. Federal government to fund $370 million. Brisbane expected to receive a $50 million economic benefit from hosting 4000 delegates and 3000 accredited media. NSW Planning and Infrastructure Minister Brad Hazzard: “To think that the US President, the heads of Russia, of Britain are going to Brisbane and be told this is a gateway city to Australia is just ridiculous.” Melbourne lord mayor said they did not want the event and WA Premier said his state lost interest when the costs emerged. Additional refurbishment investment in hotels expected. [CR: I remember being in Melbourne for the G20 in 2006, getting to the train amid the protestors. Chaos is the operative word I would use.]
Next battleground – social TV apps: Deloitte State of the Media Democracy survey of 2000 Australians found that 60% of TV viewers multi-task with mobile devices. Ten announced joint venture with UK-based Zeebox, a “second screen” TV platform and consumer service, allows users to find out more information, interact with other viewers, and buy things they see on screen. Similar solutions with other networks includes Seven’s Fango, Nine’s jump-in app, and ABC iView. Zeebox is an agnostic app not tied to one channel. [CR: I remember exploring the potential of TV hot spots in 2001 with set-top boxes, with the ability to book an appointment for a test drive when viewing a car commercial. That seems so archaic now... and I feel old.]
China population: China predicted to hit the point where there are more dependents than workers in 2013, which is 3 to 4 times faster than during the economic development of Japan and South Korea. Fertility figures circulated at the China Update conference are 1.2 births per woman, below the official figure of 1.8 and below Japan’s figure of 1.4. 2.1 births per woman is the standard level for maintaining a stable population. There will likely be a change in the one-child policy but the real cause is the same shift in social and economic attitudes leading to fewer children in the developed world. More developed countries can try and keep older people in the workforce, but China has a massive drop off in skills capacity ion the older workforce. Only short-term solutions said to be capital investment to boost labour productivity and improve the quality of the workforce. [CR: Like a big simulator game, trying to make your populous have babies... but how does this fit into the whole global over-population discussion?]
Harvey Norman buys a Retravision and a Betta Electrical store in Gunnedah, NSW, looking at six more Retravision retailers looking to exit following collapse of Retravision Southern buying group in May. Harvey Norman bought Clive Peters for $55 million in 2010. Consumer electronics has experienced 20 to 40% annual deflation, prices continue to fall but rate of decline has eased. Harvey Norman global sales have fallen 6.7% to $4.4 billion nine months ending in March, 7.5% decline in Australia. Harvey Norman has shown no interest in 300 Dick Smith stores being sold by Woolworths. [CR: Last one standing.]
Store wars: Coles announces another round of price reductions as part of a “Down Down” campaign, said to reduce prices on a range of products and brands by up to 29%. Made it clear the reduction would be funded by Coles, not suppliers, sacrificing margin to drive volume and subsequent profit. Last week Woolworths accused of threatening to take products off shelves if suppliers did not cut prices by as much as 10%. Earlier Metcash’s IGA retailers launched $5 million, six-week campaign to promote price reduction up to 25%. [CR: Intense competition, suppliers often the ultimate losers.]
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