About chicken: Bob Ingham putting Ingham Enterprises on the market, potential vale of $1.5 billion. Ingham, 81 years old, selling the 94-year-old business that sells around 35% of all chickens sold in Australia. Annual turnover is $2 billion. Ingams and rival Baiada control close to 70% of the chicken meat market in Australia. Baiada MS states consumption of chicken in Australia increased but real prices have dropped between 20% and 25% in past few years. Poultry production increased 30% in past five years to 1.1 million tonnes in 2012-2013. By comparison, flat beef and veal production is at 2.1 million tonnes (remaining steady), flat lamb production is at 430,000 tonnes (decreasing 40%), and pork production is decreasing. Australians increased consumption each year to an average 42 kg per person in 2010 (Americans consumed 50kg per person). Costs are increasing with consumption, increasing price is not an option due to a supply chain dominated by two supermarket chains, forcing consolidation in the chicken business to gain efficiencies. [CR: Recall yesterday’s article on newsagents? Observe history in other industries.]
Queensland Premier Campbell Newman said 3000 jobs have gone since the financial year, has previously stated the state has 20,000 more jobs than it can afford. [CR: Wonder how many will go straight into resources.]
High level of absentees expected this winter due to influenza. Normal rate for June is 3.5%, August is 4.5%. [CR: The story the numbers do not tell is that it can hit all at once, with 25% gone in one week.]
Standard Media Index (SMI) – monitors revenue spending by media agencies handling about 60% of all advertising revenue – year to June results: overall ad market down 0.2%, Total TV down 1.8%, free-to-air TV down 4.1%, regional free-to-air TV up 1.1%, Pay TV up 11.3%, Total newspaper down 8.1%, Regional newspaper down 5.7%, Metropolitan newspaper down 8.8%, National newspaper down 13.5%, Magazines down 10.6%, Cinema down 2.8%, Digital up 22.6%, Radio up 3.4%, Outdoor up 2.1%. [CR: Look at digital go.]
Parliamentary inquiry underway to explain why costs for technology are so much higher in Australia as compared to overseas. Citing high cost of labour, Australia’s large physical size, and relatively small population. Hourly rate comparisons: UK - $9.68, US - $7.37, AU - $16.51.
Game console stats: Australians bought 450,000 game consoles during first half of 2012, down 13% from the year prior. The value of those sales fell 28.7% to $118.8 million. Next gen Xbox and Playstation not announced. Nintendo to release 8th generation Wii U before Christmas. The Ouya Google Android system is in development, attracted $US4 million from 32,000 backers on Kickstarter, to cost $US99 [CR: Tastes like chicken. (refer to previous story about increasing sales, lowering profit... see what I did there? Never mind.)]
Online group buying sites have niche competition. Total turnover for the channel peaked in Q3 2011 at $158.5 million but has fallen since. Major players like LivingSocial, Scoopon and Groupon now compete with niche players. Pink Rewards targeted at the gay and lesbian community. Trade Saver focuses on hardware stores. SME Savings focusing on small businesses. [CR: The ebb and flow, large companies try to satisfy everyone, niche players exist until technology moves on and creates opportunity and forces change or elimination.]
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