Australia - you're standing in it
seaslug wrote:
SeaSlug. Thanks. I’m all for it, for sure.
We need to start and continue to implement this type of energy infrastructure.
Providing it can be barely seen from the shoreline and doesn’t impede the ‘sense of place’ people have become accustomed to.
If these systems are visible, people who have moved, or are about to move into an area will definitely feel ‘short changed’. AW
Me too, all floating structures though with hundreds of mooring lines once fully developed ready for the annual whale migration which is where I have concern
seaslug wrote:Me too, all floating structures though with hundreds of mooring lines once fully developed ready for the annual whale migration which is where I have concern
SeaSlug. Cetaceans and most other sea faring animals have incredible sensory attributes, they’ve been avoiding all manner of naturally occurring obstacles for eons. Smarter than we think. AW
Yes I know but still its right on the main route
Anyway we don't currently have a deep water port in Australia that could "handle" these semisubmersible design floating wind farms
Ok , let's give it a go BUT it sounds like a Challenging Project .
The Economies must be Marginal , for US 2 B asked 4 feedback .
I had to get RACV to change my battery today .
The guy said it would be recycled .
Asked him if Lithium was heavier than lead ( was wondering how big a 60kg Tesla Battery would be ) .
Around half the weight , he guessed , but said he wouldn't TOUCH a Tesla battery !
WTF , I said , no , we don't touch ANYTHING , Lithium .
I asked how he would fix my Starting problem , on a Tesla .
They have two batteries and a seperate one for a starting .
I couldn't believe it and said , I bet the Tesla Starter battery is full of Lead .
He said YES .
So many of these Green solutions , seem Challenging 2 me .
Can't we just build a small Natural Gas Plant in Bunbury , instead .
They work all around Victorian regional towns ,
I have changed my mind , No Wind Farms on our Coasts .
Our Sea Birds can do without them and I don't believe they will bring down electricity prices , no way !
Let the Chinese continue to develop and reduce the cost of the Technology .
It may work , one day ?
"The Economies must be Marginal" haha Pop
https://www.afr.com/companies/energy/britain-ramps-up-subsidies-for-stru....
From their financial statements: https://www.woolworthsgroup.com.au/content/dam/wwg/investors/asx-announc...
EBIT and NPAT margins (the two main measures of profit margins) are unchanged at 4.9 and 2.7% respectively.
That’s not a company engaging in price gouging. That’s a company whose costs increased exactly in line with their pricing. So they basically exactly passed on their cost inflation to the consumer, and not any more.
Their tiny increase in profits is due to an increase in sales.
And the numbers are so small anyway that they’re more like accounting errors.
And basesix your last post makes you sound like a complete fool.
haha, I thought you'd like that ; )
I just know some farmers who wish they could "pass on their cost inflation to woolies, and not any more"
I know the world we live in
A wise man once said to me "it's easier to collude than compete..."
yeh, well @sG, easy for him, he won the quote comp.
Oligopolies always have and always will behave in this way.
if they were behaving this way then they'd both be enjoying record profit margins, but it's just not the case.
has anyone heard of ALDI, IGA, etc?
and these guys seem to be doing OKhttps://www.statista.com/statistics/692341/australia-pre-tax-operating-p...
gsco mkII wrote:if they were behaving this way then they'd both be enjoying record profit margins, but it's just not the case.
has anyone heard of ALDI, IGA, etc?
ALDI junky here GSCO. AW
san Guine wrote:and these guys seem to be doing OK. The pandemic must have been good for business?
https://www.statista.com/statistics/692341/australia-pre-tax-operating-p...
well it's a miracle then - Woolies and Coles have all this oligopoly pricing power but aren't using it..
There’s some good info in this article:
- Loss was due to the write downs in NZ business and Endeavour Group
- Without the impairments, Woolworths would have booked a $929m profit
- Australian food sales were the bright spot, rising by more than 5 per cent year-over-year and blowing past estimates, while margins grew
- CEO is leaving but he led the company to record profits
https://www.theaustralian.com.au/breaking-news/woolworths-shares-crash-m....
And @gsco you don’t sound like the original gsco at all. His vocabulary, grammar and quality of sources were completely different to yours. Are you the same person?
From that bastion of leftist, Marxist, globalist ideologies:
"Woolworths has made a major loss this year, but also that's in the context of both Woolworths and Coles being damned by government for the oligopolistic control of the Australian retail market.
"That is, they've consistently made profits because of the lack of competition."
https://www.abc.net.au/news/2024-02-22/brad-banducci-woolworths-profits-...
I’m a bit sceptical that anything is going to happen, I laughed at the 60 minutes report on paladin , they focused on the company’s that received the contracts and what tax payers money has been spent on instead of looking at who actually signed off on awarding the contracts . Who was the minister at the time ? His name wasn’t mentioned once . https://x.com/marquelawyers/status/1759772805527408835?s=46
Pop Down wrote:Andy
This guy has a whole Legal Team , PR team to ensure that the company played by Strict Rules Set the by the ASX .
It's standards are equal to the highest in the World .
If this guy's Reputation was tarnished , at ALL , I would have heard about .
Like Joyce and Gyder .
So Andy is a better Judge and Jury that the ASX , ASIC , ACCC etc etc .
You then can abuse nearly every woman and man , try to having a go and try to run a business by the Rules that they didn't set and change 2 often , for their liking .
Then they pay tax .
The Regulators have not wanted WOW or Coles to Increase their market share , for nearly 10 years .
They don't let them build new stores , so were an easy SELL .
They are probably cheap now , so a Buy lol .
I HATE both companies and never recommended them .
I'm not talking legalities, I'm talking morals.
Big difference.
I haven't shopped at Coles or Woolies for maybe 8 years, but I'm lucky that I have alternatives, lots of small towns wouldn't.
Even in some heavily populated areas I expect you might have to drive a long way to find something else.
I know u are Andy but it's not the guys job to be the Judge of the Regulators Morals .
A bit like a nice Executioner just doing his job , by the rules .
Business people work in competitive industries , Dog eat dog .
Many are tested and fail on Morals .
They are usually the WEAK ones and are found out in GOOD organisations , as they are a BIG Risk to a business .
These Senior Business people don't OWN these companies , like Fox does .
They CAN'T be allowed , by Shareholders , to stuff things UP .
The Shareholders Money is at Stake .
I shop at my local market and IGA .
I KNOW I pay more , but like doing it .
It’s a bit weird to keep quoting journalist ramblings when I gave you a link to Woolworths’ financial statements for you to look at the numbers for yourselves and see that it’s a company a mile away from price gouging, regardless of how journalists try to spin it.
Anyway, surf’s pumping…again…been a great run of waves.
Right gsco , we need 2 remember journalists love to try and create controversy and love highlighting BAD apples .
Gosh , in MY industry , I had 2 do so much STUFF , as regulators set Rules for the fn Bad Apples .
Wollies are , perhaps , behind governments , Australia's biggest employer .
Groups like Walmart and Costco can play in their patch as much as they like .
They don't take on Wollies or Coles as they are too Big , too entrenched and too GOOD at looking after Australians general grocery needs .
All Industries have Bad Apples .
All Companies can have CEO's that FAIL to meet the Moral Dimension .
All companies have probably price gouged ,and got away with it .
However , these are NOT the Rules the Market Plays by .
These Mistakes are usually found out INTERNALLY and the place goes Ape Shit , hoping the problem can be contained .
In General , the Market does Regulate itself .
It does a MUCH better job of doing it , than CEO's OR Regulators .
While everyone carries on about what a bunch of crooks Coles and Woolies are, does anyone who pays their insurance by monthly direct debit ever check the % increase every year the policy comes up for renewal. It consistently ranges between 15% and 35%.
The notice always says it will automatically renew and that you don't have to do anything. Most of us are lazy and just accept this at face value and don't even realise we are being gouged. I know its a different industry with a different product, but the crook factor is still the same. At least you have the option with a few phone calls to shop around, which unfortunately we don't have with our supermarket duopoly.
You are so right Gary as I do need to shop around for another Mechanic .
Tried a new place on recommendation and it's been a big Mistake .
Cost me heaps , no results .
I won't abuse them , just go elsewhere .
Thats business and life , sometimes .
What business doesn't have shonks or crooks ?????
In Melbourne everyone has the chance to shop with anyone .
Wollies and Coles dominate here 2 .
The ASX realises this and gives both companies a High PE Ratio as a result .
Its considered a Defensive Sector with low chance of negative surprises ie well managed .
Politics ?
We can't abuse everyone , Macca .
A kid today working hard and about to move into a higher Tax bracket , would probably feel like they are being Price Gouged by the government .
The Job of CEO of Woolworths is one of the most important jobs in Australia .
They pay to get the Best talent to apply for the Role .
The CEO HAS 2 take Responsibility for Every Employees actions .
Anyone who gets this coveted role , with have Proved their Talent in the Caldron of Big Business .
Good luck to the next person to do this important job .
They know ALL of Australia , will be watching them , like Hawks .
Haha looked at the numbers,
Woolies had a A1.5 billion dollar writedown of its NZ operations AND a A$209 million loss for the Endeavour group, hence the profit dip.
You can dress it up any way you want to fit your views but they are still gouging the hell out of Australian supermarket consumers
https://www.smh.com.au/business/companies/woolworths-flags-1-5b-write-do...
Hey SG
What has NZ and Endeavour Group got to do with Price Gouging ????
Absolutely nothing , I think ( don't follow the stock ) !!!!!
Endeavour was the Pubs & Pokies business etc and had all the debt , from memory .
Wollies got RID of it ffs !
Their Shareholders didn't like WOW doing this type of business , ESG stuff .
It's NOW a seperate ASX Company .
Interest rates have gone up so the debt burden is probably higher , easy maths that the markets understand .
They might have been gouged on Pricing in that Market haha !
Legally , the accounting Rules , allows a fn write down of ANY company asset .
Companies are loathed to do this and give the Market PLENTY of Warning of a Write Down .
That is why they are Flagging it to the Stock Exchange !
A Write DOWN , is an Admission of FAILURE by any company .
Maybe in NZ , there are local competitors who are Beating Wollies ?
That is good news imho .
The Wollies assets there have Clearly Underperformed .
Australian shareholders won't be surprised , I am guessing .
Probably expecting a Bigger Write down .
What U are reading in the SMH today SG , the Market priced into the stock its expectations , six months ago .
Thats its job and people that study it and work in it , think about it all the time .
The Market is the Unchallenged Expert !!!
If this is new news released after market yesterday , I bet the stock goes Up lol .
The Market is VERY smart !!!
I'm playing a dangerous drinking game @Pop:
every time you write 'wollies', I have a shot of espresso.
Starting to jangle already ; )
Two separate but not unrelated issues, GSCO was arguing that the dip in profit proved that there is no collusion between the oligopolies and it was all a media beat-up. However, the losses in other parts of the business would indicate that despite the losses profits remained healthy...if only the ACCC truly had some teeth
Really SG
Look what happened to the Big 4 Banks , they got smashed by the Regulators .
In Finance , we are all scared of regulators .
The Tax Man scares me and I always do the right thing .
The Police scare me , so I don't drive like Base 6 , jingling and jangling at the speed of light , music blaring and chatting on my phone , driving for a surf .
All the tools and processes are available for US to have a well functioning society , already .
No system can regulate OUT , Bad Apples !
Governance of our Institutions MUST be Squeaky Clean and Rules must be adhered 2 .
Lobbying Pollies with money can be stopped .
Good governance is terribly hard to keep going .
People get lazy and forget to work diligently to keep standards High .
The Standards We all Set today , are the HIGHEST , in my living memory .
Good !
Pop,
I stand by my original comment that all oligopolistic markets tend towards collusion, its the nature of the beast
SG
Your exactly right !!!
It is the nature of the Beast and is why Free Markets Stop this activity .
Ford thought the market wanted just one car and only from a Ford .
The Market proved him wrong very quickly , back then .
Within a few years , there were dozens of Car companies , all over the world .
It's not Wollies fault and the Big Four are Not allowed to become 2 .
Woolworths profits probably went UP , due to government response to Covid , from ALL of us panicking and shitting ourselves .
They sold out of Toilet Paper ffs .
At the Moment Australia is at a Crossroad .
We have BIG problems 2 fix Urgently .
Market activity is always being evaluated and improved eg Big 4 Selling Trading Businesses and WOW selling the Pubs .
IMHO , we need to work out the Urgent issues to fight on .
Like Covid Response , Housing , Energy , FNP Issues , Foreign Policy Etc .
Our Big Companies are NOT Perfect .
BHP and WOW both compete very well , against the BEST in the World .
Thats their job .
I might not like WOW , but I certainly Respect them , as Hard Nosed Grocers .
The Old Markets in Melbourne were BIG and Woolies didn't dominate them , no way .
The people who RAN them , had their OWN Regulations and Regulators and were really Hard Nosed lol haha .
No one played Outside these rules , for long .
Woolies wouldn't get up early enough lol .
;)
https://m.
SG those figures I’m quoting/referring to are excluding those one-off write downs. Their profit margins are flat even excluding those losses. That’s the whole point.
But the media needs to get their clicks…I get it…
Only thing one can really accuse them of is passing on their cost inflation in full to the consumer.
But that’s not price gouging, which would be when they increase their prices well above their cost inflation and hence their profit margins blow out. But it didn’t happe.
Pop - “why Free Markets Stop this activity”
If this is an example of a free market, I’d hate to see something not so free.
GSCO - if you think that woollies are merely passing along inflation, then you really haven’t been paying attention.
Have you not seen the news about Coles taking bribes from multinationals, and Woolworths demanding similar?
Andy
You are huge on abuse and criminal accusations on Wollies .
Why the hostility ?
Bribery now , really .
U haven't come up with ONE charge they have been proved of doing in 5 years ffs !
Coke and Kellogs have been doing Deals with ALL grocers and retailers for fn years .
The Days of a Real Free Markets are over , wake up .
Humans rules , are now too involved .
You want to SEE Chaos , take the Markets away mate , leave it all to the like of guys like U .
U can Set the Moral Bar FFS .
What could go wrong ?
Spanish Enquiry , perhaps .
It happened a few hundred years ago .
Or a Central Planner like Mao ?
U having a go at our big companies Macca , is like biting the hand that feed us all .
Give them all a break .
If something big happens , we will all hear .
The Market knows it's stocks so well , it just keeps a close eye on Wollies Bottom Line and margins , as a whole .
A new CEO , would be very brave to do something , different , like becoming Wollies The Wonderful .
They would have to convince the Market of HOW this Change will affect the business's Earnings , simple stuff .
If he is great at his job , the market will give him the benefit of the doubt and will NOT sell the stock .
The Market will THEN Focus on ALL the Wollies metrics , to the tiniest detail .
At the first SNIFF of Unexpected Earnings declines , the stock gets Shorted and then Smashed .
The PE drops from 16-18 , to 10-12 times .
Walmart then makes a take over did at 13-15 times , a big premium 2 the Market .
They re Employ the Guy who just left , the Stock is removed from the ASX , Wollworths is American and Walmart's PE , goes up , for making a great strategic buy .
Walmart are always looking at Woolies , they are a great fit .
Then we just have Coles , as our big player , listed here .
All The Australian Super money , then has 2 find a new , defensive home .
Grocery has NEVER been a Duopoly , in Australia .
There has NEVER been just 2 places , in Melbourne , to buy groceries .
More than a dozen places , I still shop .
I think I can pop down on Wollies now , I need to go 2 the IGA in Sorrento .
Those bloody wollies putting me to sleep above basesix. Way out of my league.
hahahaha, that is really funny @seds.. yeh.. wollies.. haha... stickickng with it.. haha.. reckon I'm on 16 espressisos.. starting to like it.. haha reckon i've plateaued.. no effect.. toilet a fair bit.. but that's probababy heathy, haha.. but yek, amaaaaaazing how caffeine you can has no effect you on you after a while.
Haha funny as.
As for you you’re gunna living in the toilet if you keep up this new found addiction.
"The Days of a Real Free Markets are over"
Then why do you keep banging on about it Pop, you need to sort out your story because at the moment it's all over the place.
You say the free market doesn't exist and then two sentences later you're supporting a free market.
Seems like you don't know what's going on and you're just looking for an argument.
And have a read of this big fella, it's the very definition of bribery.
https://www.abc.net.au/news/2024-02-19/coles-woolworths-supermarket-pric...
If you're not up to speed it's not much point having a discussion.
^^^^^ at pop, at seds is right! I'll vote for you! Go play on the ebach!
Hey base 6
No , I am going to let my daughter scare the Shit out of me , and let HER drive me around for an hour or 2 .
She is up 2 5 hours with 115 to go .
We had our first go , since she nearly drove through a Costco Outlet , a few nights ago and went through the basic's again .
I asked her to put her foot on the brake and she went for the accelerator .
My Ex is not willing to drive with her and she has been learning for 12 months haha .
She is the Artistic one .
Her line through the bends is cool and I keep an eye out for pedestrians .
My other daughter is having her Cabal down , so trying to stay out of their way .
They are heading out , so only probable noise problems around midnight .
No one around so Coppers will be cool lol .
So feeling quite Free , but not quite really free , if u get my drifting and dangling .
How was that Wooden board !!!
Can't buy that at Woolies , no way .
Waves Monday , I hope .
Andy
If I sell U my board and u pay me x , and we agree , that's a totally free market .
If base 6 , introduced us and charged a brokerage fee , that's still a free market , but less Free .
If A King or Government , charges any fees or puts ANY Rules on our dealings , its EVEN Lessiest Free .
If we can't deal , its NOT Free .
The US Bond Market is the Freest Market on the planet .
I really hope u are getting my drift , as I have drifted off .
you're a good unit @Pop, have fun. I liked your description of me very much, I do enjoy a peppy tune or two when I drive to the beach, but my hooning days are well behind me, and I've never had a mobile. Enjoy having family around you, and drive safe : )
Base 6
I have enjoyed popping back on SN and especially the last few weeks as things have settled down a bit , perhaps .
Only joined the Social Media circuit a few years ago .
I really struggled with it , as was in Fighting Mode with too many things in my life , back then .
A few wise ones like U , seeds and AW , took the initiative and Planted some lovely seeds on a few Threads , in amongst the Weeds and Box Thorns , that were fighting for space lol .
Very cool and showed spunk , surfer style .
Other than a momentary lapse , the ABC lol , you are very reliable and smart haha .
Very good at helping crazy kooks like me , exiting from tight spots ( I should NOT have waded , no dived , into ).
U haven't got a fn mobile ???
F Me , that's REALLY Off Grid Stuff !
How do u take pictures :) ?
Shit , that's different !
Adam 12 has a phone that doesn't work .
AW , I hope U have a decent phone , as I think a shot of the 3 of u together , would be VERY cool .
I will not call U the Three Stooges , no way .
The 3 wise men @popdown ;-)
Pop Down wrote:Base 6
I have enjoyed popping back on SN and especially the last few weeks as things have settled down a bit , perhaps .
Only joined the Social Media circuit a few years ago .
I really struggled with it , as was in Fighting Mode with too many things in my life , back then .
A few wise ones like U , seeds and AW , took the initiative and Planted some lovely seeds on a few Threads , in amongst the Weeds and Box Thorns , that were fighting for space lol .
Very cool and showed spunk , surfer style .
Other than a momentary lapse , the ABC lol , you are very reliable and smart haha .
Very good at helping crazy kooks like me , exiting from tight spots ( I should NOT have waded , no dived , into ).
U haven't got a fn mobile ???
F Me , that's REALLY Off Grid Stuff !
How do u take pictures :) ?
Shit , that's different !
Adam 12 has a phone that doesn't work .
AW , I hope U have a decent phone , as I think a shot of the 3 of u together , would be VERY cool .
I will not call U the Three Stooges , no way .
Pops Likeable (poor attempt at Popsicle)
You humour me everyday, thanks, you certainly put your poetic thoughts on the table., good and not so good, you bash and crash and get bashed and crashed yourself.
Bit of a risk taker IMHO ( there you go, that acronym is one of your specialties Pops) but I think you are holding your cards closer to your Arnold Schwarzenegger
buffed chest, some days I think you’re toying with us.
Or do you really travel at the speed of light ?
Well, yourself and Southern Raw may want a picture of the three unwise men when we travel, sorry to disappoint .
A photo may eventuate of the three unwise men, it will be totally head cropped so Swellnet subscribers don't become instantly blinded by our wonderful natural beauty and good looks.
I’m hoping we can get this off the ground, would be a tear, we’ve all got a mischievous past I’m sure.
On that point Pops, it very much sounds like you have as well.
Plenty of size and swell on the coast this morning , shit wind,
I’m thinking car park in the dark for tomorrow.AW
The "I can't believe it's not politics" thread.