Think Australia is safe from global financial turmoil? Think again...
Sunday, 13 October 2013
Everything is not alright - Australian businesses
So the Chinese economic miracle has come to Australia? In the form of the mining boom and... the real economy bust... or was that fair competition:
STRUGGLING Australian fruit processor SPC Ardmona has urgently appealed to the Coalition government to give it $25 million promised by Kevin Rudd four weeks ago or risk watching the company go broke.
SPCA chief executive Peter Kelly said that it was already "five minutes to midnight" and that the Shepparton-based business, despite being owned by giant Coca-Cola Amatil, could not keep going much longer.
He said SPC, as one of the largest food processing businesses in Australia, had a much brighter future than the moribund Australian car industry and needed much less government assistance. But Mr Kelly bluntly warned yesterday that time was running out.
"The pain is wearing thin; if this business wasn't owned by CCA we would be shut already," a defiant Mr Kelly said. "Without ($25m from government) we are in trouble; and that's not just a problem for SPC but for our people, the town, the region and the nation."(here)
One interesting point from the article is the political aspect - who survives depends on who has political connections. An interesting game indeed!