I've had a number of my estate agent clients reporting similar "anecdotal evidence."
Exactly why some clients are being turned down for finance has been a mystery. It seems to be more than just a risk aversion problem.
I've had a number of my estate agent clients reporting similar "anecdotal evidence."
Exactly why some clients are being turned down for finance has been a mystery. It seems to be more than just a risk aversion problem.
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I think the banks are having liquidity issues. I can't remember exactly when, but shortly after October last year Absa removed certain facilities on their home loans. The used to have a reserve option where you could still access the capital and extra payments in your home loan, but changed this so that you can only access the extra money you have paid in, i.e. you can no longer access the capital repayment part.
Here we have even more of this incredible circle of logic.
So let's pick this over.The tourism industry should do "everything possible" to protect jobs in light of a "looming recession", African National Congress (ANC) president Jacob Zuma said on Tuesday.
"With the looming economic recession in our country, we urge the tourism industry to do everything possible not to shed jobs," Zuma told the Tourism Business Council South Africa in Sandton, Johannesburg.
"All avenues must be explored to save jobs in our country. From outside we want to assure you that we are serious about tourism, and that we do not regard it as a Cinderella industry. It is a job- and money-spinner and a key player in our economy," he said.
Zuma warned employers in the tourism sector that the ANC government intended introducing laws regulating contract work, subcontracting and outsourcing. This was to prevent the exploitation of workers.
"Provisions will be introduced to facilitate unionisation of workers and the conclusion of sectoral collective agreements to cover vulnerable workers in these different legal relationships and ensure the right to permanent employment for affected workers," he said.
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On Monday Zuma called on labour and business to "make sacrifices" to avoid job losses in the face of the global finance crisis, Business Day reported.
He said South Africans faced "extraordinary circumstances" and would be required to make "sacrifices" to prevent businesses from closing down and shedding jobs.
Extracts from M&G article here
Business is under severe pressure in a contracting market.
Business's very survival is dependant on aligning costs (including labour costs) to their current means.
Jobs come from business. No business, no jobs.
JZ's solution is to force an even more inflexible relationship between business and employees than exists already?
Last edited by Dave A; 04-Mar-09 at 12:38 PM. Reason: clarification
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Dave
Isn't this what the UK went through with PM Thatcher and she broke the unions backs. For the good of the country I wish COSATU would break away from the ruling alliance and we could get more growth friendly labour laws.
I am currently 1 staff member short who is on 3 weeks sick leave for which she gets full pay. It is no use getting a casual in as the training is expensive ito waste and aggro and takes about 6 months before new people are productive.
My answer is to automate an example I gave away 2 duplicators as the labour for collating afterwards is not worth the hassle. So I now print to the copier and it is collated as printed at a lower gross margin but a higher profit.And it is quicker.
Last edited by Dave A; 04-Mar-09 at 12:39 PM. Reason: clarification
Only stress when you can change the outcome!
Well, JZ's plan is to strengthen unionism by the looks of things. He's going the wrong way if he wants to reduce unemployment, reduce poverty, etc. When you put more weight on the horse, it runs slower, not faster.
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