It's time once again to take a look at happenings down under. Restaurants are closing en masse rather than pay double time and a half to stay open on holidays.

Please consider Penalties blamed for taking high-end dining off menu.

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Mike Shedlock

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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11 Comments So Far
canetoad Wrote: Jan 30, 2013 6:15 PM
We prefer to pay our workers a living wage. Slavery went out of fashion a long time ago.
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canetoad Wrote: Jan 30, 2013 6:14 PM
Yawn, Australia has one of the most successful economies in the western world.
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buxton Wrote: Jan 30, 2013 1:03 AM
its all because they have a Labor (communist) government in power at the moment and as the unions pay their re-election cost then the courts give the unions what they want as the judges are appointed by the government
the only businesses able to work in these situations are the family only ones where all the workers share in the profits eventually and wages are paid by the father as the children have need. Soon they will be able to pay off their mortgages and the kids will all be driving BMWs
small business (apart from family ones) just die in this climate as rents are very high along with wages and every business is a risk, some days are good and then other days send you bankrupt
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AD15 Wrote: Jan 29, 2013 3:31 PM
Analysis: Many restaurants will just CLOSE. Those workers will lose a day's pay
Some restaurants will stay open and could possibly have MORE business from restaurants that have closed. However, they will have to raise prices substantially to pay such high wages. The very rich won't care. But most people will not be able to continue to dine out. So these restaurants will also close on holidays. And the union workers will lose the WHOLE days pay.

Who WON? Union officials, who showed EVERYONE that they were in charge. Everyone else lost ------employees, employers, and diners.

There is a way that seemeth right to man, but the end thereof is destruction.
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James T.2 Wrote: Jan 29, 2013 11:34 AM
And just like the USA, the exaulted Unions, that should have gone out with the bustle, are at fault.,
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LtScrounge Wrote: Jan 29, 2013 9:47 AM
BTW if you don't like the service you get in retail stores, don't blame the stores. Every time minimum wage goes up, they have to cut hours to cover the increase in rate.
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dcarling-rodgers Wrote: Jan 29, 2013 6:36 AM
Thanks for joining the dots for me. I live among many of these developments on the Gold Coast, driving past their billboards every day, and regularly question why they don't just cut the price by whatever amount of discount they're offering. Now I know why - it devalues the land. Incidentally, a mere kilometre from my own home is a sign for one developer offering $10K in gift vouchers to land buyers. The 'incentives' are just getting silly.
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FletchforFreedom Wrote: Jan 29, 2013 6:20 AM
"The government are a bunch of monkeys who don't understand business."

Canetoad no doubt approves!
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willis9 Wrote: Jan 29, 2013 4:03 AM
I expect the equivalent of speakeasy places that serve great steaks and seafood in what looks like a warehouse on the outside and has white linen dining with fine wines inside only by invitation open to friends on holidays. A real moveable feast system. All staffed by regular restauranteurs taking all gratuities and reporting nothing as income and padding the costs on the regular public business. The waiters will be missing the big spenders.
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LtScrounge Wrote: Jan 29, 2013 9:45 AM
Every service industry employee is feeling the pinch from the higher tax rates as fewer people can afford to eat out, take vacations, or rent limos. Now of course the SEIU blames it on everyone but the Democrats who raised the taxes in the first place.
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Joe579 Wrote: Jan 29, 2013 11:56 AM
Willis, Very good idea! People are doing the same thing all around America. Don't think so? I will not give away the one's I know of but here in Tulsa I know of three that do it on super bowl sunday and two other sundays of the year. Nothing goes on the book's waiters are happy and the people pay no tax and the no tax on the ticket.
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