Aussies work more and play less

By Keri Algar (current.com.au)

SYDNEY, NSW: It comes as no surprise to many that analysts are predicting Australians will have less leisure time and work more thanks to racked up house related debt. What Aussies plan to do with their dwindling free time, however, might come as a shock.

Gone are the days of prawns on the barbie, according to industry analysts IbisWorld, who have listed using the internet and playing video games as Australian’s favourite pastimes. Yes, really.

“Perhaps unsurprisingly, internet use – including social networking, web browsing, watching TV and movies online and online shopping – will continue to soak up more of our time as we head towards 2020,” said the IbisWorld report.

The good news for consumer electronics retailers is that video gaming is set to more than double its current industry revenue of $3.6 billion over the next ten years.

“The last decade has seen the market for video games shift from a young, male dominated audience towards an older and increasingly female demographic – with the average age of the Australian gamer now estimated at 30, and 45 per cent of all gamers being female.”

And of course by delving into the online world more each year, IbisWorld predicts the retail landscape will undergo a “significant cybershift by 2020”.

“In 2010 – 2011, IbisWorld expects online retail sales to grow by 5 per cent to $12.9 billion to account for about 3.4 per cent of Australia’s overall retail spending. By 2020 IbisWorld believes this could be in the range of 6  to 10 per cent, with growth spurred by increasing computer literacy, greater focus by e-tailers on the layout, efficiency, security and reliability of their websites, and continued shift towards online shopping by time-poor, cashed-up consumers.”

An Eeeasy Deal

Keri Algar

In a timely turn of events Harvey Norman Holdings Ltd is set to gain $300 to $400 million in sales annually, after confirming the recent purchase of 32 Clive Peeters stores.

The $55 million sale includes stock, logistics and structures, as well as the protection of over 1000 jobs, still subject to certain terms and conditions.

It took six weeks for the appointed Receivers and Managers of Clive Peeters, Phil Carter and Daniel Bryant of PPB, to assess the company’s viability and quickly prepare it for sale.

In a statement to the stock exchange in mid June, while Clive Peeters was in voluntary administration, Phil Carter announced a “strong interest in the sale process”.

Harvey Norman Holdings Ltd was earmarked within the industry as an obvious buyer. According to its Chairman, Gerry Harvey, Harvey Norman had been interested in purchasing the electrical and whitegoods giant during its path to insolvency, and was waiting for an opportune moment to make a bid.

The original national network of 44 Clive Peeters Ltd stores has been whittled down to 32; the unsustainable stores shut down. However, the terms of sales in the contract include the provision of continued employment to the majority of Clive Peeters and Rick Hart employees. Phil Carter of PPB confirmed that the greater part of the 1200 employees will retain their jobs.

“This is an excellent outcome. We are delighted to have secured the employment of the vast majority of the workforce. This is particularly pleasing as employees have been instrumental in keeping Clive Peeters and Rick Hart stores trading during this time and they are to be congratulated for their efforts. We are continuing to work with Harvey Norman who are interviewing remaining staff over the next week,” said Carter.

Carter’s words should ensure a collective sigh of relief from Clive Peeters’ staff, glad not to be turned out into an already embattled employment market.

Having purchased “certain stock and plant and equipment….know-how, intellectual property rights and systems,” Phil Carter said Clive Peeters and Rick Hart stores will continue to trade under the same names.

“The stores will continue to trade as Clive Peeters and Rick Hart and we are pleased to have helped preserve these great brands. Under the stewardship of Harvey Norman we are confident that the businesses will have a prosperous future,” said Carter.

The $55 million purchase by Harvey Norman and subsequent $400 million annual sales estimated serves to confirm the idiom that one man’s loss is certainly another man’s gain.

Australian Immigration

Ha ha, classic stuff Algar. Suffice to say I didn’t get the SBS cadetship, worth a bloody crack though.

Blacksmith’s memorial to bushfire victims and survivors

Reaction: A steel gum tree will be constructed in one of the devastated townships as poingnant reminder of the recent tragedy.

 

http://www.abc.net.au/news/stories/2009/03/16/2517219.htm?section=australia