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  • How I got it wrong on migration | Business Spectator
    Timor from 1999 onwards a country now ruffling feathers by following Indonesia s example and accusing Australia of spying on it for economic gain While I was reporting on the progress of refugee families in the early 2000s one school principal pointed to a class of Horn of Africa students and said Some of these kids have seen their parents beheaded There are good reasons not to tell them We re alright Jack The second issue namely the problem of migrants failing to live harmoniously within muliticultural Australia is less easily dismissed The fears that Pauline Hanson s One Nation party fanned are still there However though violence and inter racial conflicts flare up from time to time the 2005 Cronulla riots being the most extreme recent example there is no suggestion of a breakdown in the rule of law the formation of underclass ghettos or similar problems I should disclose that I spend around half my time in Melbourne s ethnically diverse western suburbs We have ethnic drug gangs language problems poverty driven petty crime and nonetheless a strong rule of law thriving democracy and an enriched cultural life Nobody s perfect but we re all Australian The Australian experiment with multiculturalism backed by the Australian Migrant English Program and a raft of other support services has made Australia a global exemplar of how to handle these difficult issues But what of the last objection listed above Can we afford continued high migration Economist Leith van Onselen sent me an intriguing article last week in which he argues that migration won t help with the ageing population problem By studying dependency ratios van Onselen finds that the ageing of the migrants themselves assuming fairly constant fertility rates means continuing high migration wouldn t help things much He quotes the Productivity Commission which stated recently an increase in annual net migration from 150 000 to 300 000 would lower the proportion of those aged 65 or over by less than 3 percentage points by 2044 45 As an illustration of the challenge the Commission showed that delaying an increase in the dependency ratio by 40 years would require a net migration to population ratio of 3 per cent per year leading to a population of around 85 million by 2044 45 Dr Bob Birrell a Monash University demographer well known for his work with the Commonwealth government s National Population Council from 1987 1993 and as a member of the independent Review of the General Skilled Migration Program which reported in May 2006 broadly backs this view Birrell argues we re in a sweet spot in terms of the numbers of working age Australians available to work and things will go downhill from here And while new migrants ease the pressure of a proportionally declining workforce in the short term they won t change things much 20 years hence when the retiring baby boomer reach their frail years Migrant fertility rates are not says Birrell significantly different to the established

    Original URL path: http://www.businessspectator.com.au/article/2013/12/6/national-affairs/how-i-got-it-wrong-migration (2014-01-12)
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  • Rob Burgess | Business Spectator
    natural attrition differs little from Labor s efficiency dividend It s one of many lines that may bring Tony Abbott more trouble than expected by Rob Burgess 8 24am November 19 32 comments A Gaelic debt lesson for Mr Hockey Our country is supposed to be open for business but Joe Hockey can t help sending negative signals to global markets about the state of Australia s finances It s a purely political strategy but hardly a worldly one by Rob Burgess 5 57pm November 15 68 comments What s holding back the wall of money A government backed securities market and simplified tax system are the two keys to benefiting millions of Australians by freeing the wealth locked up in their houses by Rob Burgess 8 24am November 14 148 comments How super corrupts our bourgeois bohemians The younger generation s anticipation of inheriting a massive chunk of baby boomer money is distorting the economy and influencing the tone of Australia s Left Right divide by Rob Burgess 8 30am November 13 79 comments A huge opportunity in retirees hidden wealth Freeing up retirees housing capital would take pressure off health and pension spending and ease financial stress for all generations It s a reform that requires tremendous political bravery by Rob Burgess 6 44am November 12 76 comments How half our retirement savings went missing Regardless of specific tax brackets our super system ignores half the country s retirement nest egg Its serious structural failings are cheating Australia by Rob Burgess 6 16pm November 08 245 comments Will Turnbull leapfrog Telstra s copper As broadband copper slowly corrodes all mobile broadband is looking like an increasingly strong competitor for customers who may later make the jump to fibre by Rob Burgess 8 25am November 07 22 comments It s competition not carbon that matters The supermarket duopoly s impact on consumers and small business shows it s urgent for the Abbott government to get its hands dirty on competition policy by Rob Burgess 8 06am November 06 19 comments Can Abbott talk up what he talked down When offshore capital inflows ebb Australia will rely far more on industries now precariously positioned That puts Tony Abbott and Joe Hockey in a tight spot by Rob Burgess 8 16am November 05 32 comments Murdoch is right we need more refugees Rupert Murdoch s Lowy address praised immigration as the nation s lifeblood But nuanced debate on immigration is yet to be found in the media by Rob Burgess 5 47pm November 01 79 comments Abbott s green right flank is utterly exposed Tony Abbott s approach to climate change has left a hole for the green right to fill just as Bob Brown split Labor s vote by Rob Burgess 8 47am October 31 50 comments What Howard and Thatcher can teach Shorten The ETS gives Bill Shorten a rare opportunity to make a Hawke like conviction call on the economic interests of his country by Rob Burgess 8 09am October 30 30 comments Will Humpty Hockey have a big fall The Treasurer is busy reshaping the national debate on debt with an entirely different meaning to when he was in opposition by Rob Burgess 8 19am October 29 23 comments We should be Asia s delicatessen not its foodbowl The Abbott government s cutbacks threaten industry assistance to SPC and Simplot but there are good reasons to rethink the growth potential of their sector by Rob Burgess 5 25pm October 25 15 comments The folly of Shorten s knee jerk attack Bill Shorten sees eye to eye with BCA chief Tony Shepherd on more policies than he d care to admit Sniping from the sidelines will do little to achieve a coherent vision for economic reform by Rob Burgess 8 01am October 24 35 comments Page 2 Let s get negative about negative gearing Negative gearing should be on the Coalition s long term chopping block Easing out the costly housing distortion could save 5 billion in structural deficit and maybe if properly explained win back a vote or two by Rob Burgess 8 13am November 26 126 comments Emperor Hockey has no clothes on GrainCorp The conflict between politics and national interest will weigh heavily on Joe Hockey s GrainCorp decision The risk of deterring inward investment in agribusiness could tear the Coalition asunder by Rob Burgess 5 14pm November 22 52 comments Abbott s plan to stop the votes is working Indonesia s ability to use boat arrivals as a bargaining chip is a far more devastating problem for Tony Abbott than the nationalist ire an apology to President Yudhoyono would trigger by Rob Burgess 8 46am November 21 103 comments Abbott s siege mentality could work It s clear Tony Abbott is putting defence and nationalism ahead of all other conservative concerns That s likely to strengthen his support at home despite its inherent dangers by Rob Burgess 11 24am November 20 87 comments The public servant job cuts were never secret There was a good reason no one listened when Labor warned on sweeping Coalition job cuts But Tony Abbott has been caught out overlooking figures already in plain sight by Rob Burgess 3 25pm November 19 25 comments Heads roll at the Department of Slogans The Coalition s pledge to end the waste through natural attrition differs little from Labor s efficiency dividend It s one of many lines that may bring Tony Abbott more trouble than expected by Rob Burgess 8 24am November 19 32 comments A Gaelic debt lesson for Mr Hockey Our country is supposed to be open for business but Joe Hockey can t help sending negative signals to global markets about the state of Australia s finances It s a purely political strategy but hardly a worldly one by Rob Burgess 5 57pm November 15 68 comments What s holding back the wall of money A government backed securities market and simplified tax system are the two keys

    Original URL path: http://www.businessspectator.com.au/contributor/rob-burgess?page=1 (2014-01-12)
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  • The year in stocks | Business Spectator
    Remember me Log in Request new password As the market has continued its convincing climb higher news headlines have been dominated by the extremes of performance Things are not what they seem Although QBE Insurance Group racked up its third serious downgrade in the same number of years it hasn t been the worst performing insurer for the year AMP Ltd takes this crown AMP has been unable to recover from its June earnings revision and continues to find lower ground as the market accepts the reality that further problems may lie ahead from the company that has promised so much but delivered little post merger with AXA While the Big Four banks are known as investor favourites they have been blitzed by the Bank of Queensland Admittedly the Queensland bank was recovering from a treacherous two years but it is an impressive performance from a bank flying under investors radar Dubious decisions Despite Newcrest Mining Ltd denying it broke any disclosure rules in June some investors remain suspicious about the disclosure As production costs rise and the liquidity of the balance sheet comes into question the falling gold price isn t helping the miner As a result further cost cutting or asset sales will likely be required to stop the cash bleed to keep the balance sheet manageable In only three years Newcrest has lost over 80 per cent of its market cap compared with a flat gold spot price in Aussie dollars Treasury Wine Estates is also under fire for an alleged breach of continuous disclosure concerning its US inventories The severity of the potential breach has sparked a class action against the company A 160 million writedown of US wine deemed poor and unwanted slashed 12 per cent from its share price and led to the departure of chief executive David Dearie Costs didn t stop at the writedown with Treasury pouring a further 35 million down the drain to have third party destruction agents destroy the excess wine No doubt investors would have preferred a more cost effective means to banish the wine The downgrades While the end of 2013 has been equally rich in earnings downgrades and initial public offerings earnings revisions have been a consistent feature of news headlines throughout the year The first of two earnings revisions for Coca Cola Amatil came in May and the second in November Since the May trading update Coca Cola has lost 18 per cent of its market cap as a market share fight with rival Pepsi owned by Asahi took hold and Indonesian operations struggled A turnaround could be on the way following the appointment of Alison Watkins as chief executive from March 2014 In June Cochlear announced net profit was on the slide as sales slowed due to continued pressure from other cochlear implant device makers Cochlear is set to end the year down 28 per cent Less than six weeks after its annual general meeting WorleyParsons Ltd blindsided the market in late November with

    Original URL path: http://www.businessspectator.com.au/article/2013/12/20/markets/year-stocks (2014-01-12)
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  • Market Insights: Holding firm | Business Spectator
    to a generally weak day for European markets Politics Australian Election Federal Budget International News Asia Europe USA National Affairs Latest stories Gagging visas are an attack on democracy The skyrocketing price of a journalist visa for Nauru will limit coverage of Australian prisoners on a vassal state It is an insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Market Insights Holding firm Kirstie Spicer 20 Dec 2013 1 55 PM Markets ASX The broader market is holding its ground after a dramatic rally on Thursday while gold miners are getting smashed as the price of gold slides in response to the Fed s tapering decision You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address

    Original URL path: http://www.businessspectator.com.au/article/2013/12/20/markets/market-insights-holding-firm (2014-01-12)
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  • The year in charts | Business Spectator
    something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu The year in charts Kirstie Spicer 20 Dec 2013 11 02 AM Industries Health and Pharmaceuticals Retail Resources and Energy Markets ASX After underperforming this year top miners are more efficient and should see fortunes turnaround in 2014 while JB Hi Fi promises to go from strength to strength You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password It has been another impressive year for the S P ASX 200 with the index returning a total of 17 6 per cent to investors Returns haven t been evenly spread across each sector as the broader economy grappled with reduced mining spend and a strong currency choking export driven sectors The materials sector leads disappointment as majors BHP Billiton and Rio Tinto wrote down asset values and sold non core assets to bolster balance sheets Expanding capacity at existing mines and improving cost efficiencies in iron ore wasn t enough to excite investors and offset sharp declines in earnings per share While there has been negative sentiment toward the sector for most of the year stemming from concern over future growth in China BHP and Rio and other miners are more efficient companies and should see their fortunes turnaround in 2014 In total the materials index underperformed the S P ASX 200 by close to 20 per cent Ouch So it is obvious materials dished up the undesirable result but consumer discretionary stocks enjoyed the traction lower interest rates were starting to have in the broader economy climbing over 30 per cent over the year It

    Original URL path: http://www.businessspectator.com.au/article/2013/12/20/markets/year-charts (2014-01-12)
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  • Market Insights: Celebrating certainty | Business Spectator
    case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Market Insights Celebrating certainty Kirstie Spicer 19 Dec 2013 1 06 PM 1 Markets ASX Our market has jumped over 40 points in a convincing risk on day with the materials sector leading the way up 1 7 per cent as investors celebrate US monetary policy certainty You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Print this page More from Kirstie Spicer 20 Dec The year in stocks 20 Dec Market Insights Holding firm 20 Dec The year in charts 19 Dec Markets take tapering in their stride for now 18 Dec Solid foundations will steer REA Group Related articles 12 Jan Aust stocks set for flat start 12 Jan NZ dollar to pass Aussie HSBC 11 Jan

    Original URL path: http://www.businessspectator.com.au/article/2013/12/19/markets/market-insights-celebrating-certainty (2014-01-12)
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  • Markets take tapering in their stride, for now | Business Spectator
    s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Markets take tapering in their stride for now Kirstie Spicer 19 Dec 2013 10 08 AM Markets The bond market had largely priced today s taper announcement but the Federal Reserve could still surprise in the months ahead You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Yields on the 10 year US Treasury note show the bond market had already priced in the Federal Reserve s decision to begin winding down asset purchases before the announcement The bond market has steadily pushed the yield on the 10 year US Treasury higher since May on the assumption a modest wind back of the current monetary policy was only just around the corner Basically before today the bond market which is arguably the most sensitive financial market to monetary policy expected the taper and was sitting around waiting for it to eventuate Markets have been in limbo since the Federal Reserve decided not to alter its monetary policy in September so the decision to actually begin tapering has been overwhelmingly well received by the US equity market It confirms the bond market has been on the money and the equity market has welcomed the decision erasing the fears caused by uncertain monetary policy Yields on the 10 year US Treasury have only gained 0 04 per cent since the decision was announced and currency market movements have been modest confirming these financial markets had priced in much of the US10 billion reduction in asset purchases Currencies across emerging markets were sold off heavily in what was a rapid fire event leading into

    Original URL path: http://www.businessspectator.com.au/article/2013/12/19/markets/markets-take-tapering-their-stride-now (2014-01-12)
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  • Solid foundations will steer REA Group | Business Spectator
    it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Solid foundations will steer REA Group Kirstie Spicer 18 Dec 2013 3 25 PM Markets REA Group s share price may have taken a hit after the departure of chief executive Greg Ellis but a sound balance sheet and solid growth strategy should see it withstand the market s overreaction You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The departure of REA Group chief executive Greg Ellis has chopped over 11 per cent from the share price in less than two days Since Ellis took the helm in 2008 profit has ballooned from 28 7 million to 109 7 million in the last financial year a compound annual growth rate of 30 per cent The share price has followed a more impressive path returning over 50 per cent per annum over the same time frame As a consequence it is understandable that investors are feeling distressed at Ellis resignation Ellis is a respected chief executive who has delivered stellar returns to shareholders His resignation has taken the tightly held register by surprise It is common for the market to expresses its disdain when a chief executive who is perceived to have been influential in a company s success suddenly departs This is exactly what is occurring with REA Group Adding to woes for investors is the recent resignation of chief financial officer Jenny Macdonald less than a month ago This means two key positions need to be filled Given the future growth plans of REA the departure of key staff is certainly an undesirable occurrence but not one that

    Original URL path: http://www.businessspectator.com.au/article/2013/12/18/markets/solid-foundations-will-steer-rea-group (2014-01-12)
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