E D I T O R I A L

Lights Out on The Hill
If it's any consolation, the Labor Party is not alone in tying itself into knots over what it stands for in the 21st century.

F E A T U R E S

Interview: Change Agent
ALP national secretary Geoff Walsh on the changing nature of politics, the influence of the corporates and the upcoming review of the party.

Industrial: Balancing the Books
Jim Marr talks to one of the beneficiaries of the historic equal pay decision for librarians and archivists.

Unions: Breaking Out
When a bank executive stepped into the witness box to defend the gagging of a worker from talking to the media, the excuses collapsed into a sea of psycho-babble.

Politics: Pissing on the Light on the Hill
Paul Smith argues that those who don�t like the ALP's Socialist Objective should consider joining another party.

History: Of Death and Taxes
He was a conservative economist who became the darling of the Left. Neale Towart looks back on the myth and realty of James Tobin.

International: Now That's a Strike!
After one of the largest mobilisations of workers in history, Italian trade unionists are planning to do it all again.

Satire: Mugabe Voted Miss Zimbabwe: Denies Election Rigged
The newly re-elected Zimbabwean President, Robert Mugabe, has officially been crowned Miss Zimbabwe, describing his triumph as �a victory for black fashionablism�.

Poetry: Flick Go The Branches
Once upon a time, the song �Click Go The Shears� could be heard echoing through the pubs of vibrant country towns.

Review: Red, Red Clydeside
Renowned folk singer Alistair Hulett is currently touring Australia with his new album �Red Clydeside�. He speaks to Nick Martin.

N E W S

NAB Gambles, Aussies Lose

Brogden's Worker Creds On The Line

Cole Cleans Up

Melbourne Faces Budget Day Gridlock

Equity Drive Gathers Steam

Unions Call for Middle East Peace

Queensland Casuals Step Forward

Worker Stood Down for Dunny Action

Zoo Workers in Wage Jungle

Indigenous Jobs on Union Agenda

Building Workers Honour Fallen Cop

Robbo and Latham to Go Three Rounds

ACT Health Workers Flex Muscles

Small Victory at Shangri-La

Casual Rights On Agenda As Full-Time Jobs Collapse

Workers Health Centre Offers Affordable Care

Activists Notebook

C O L U M N S

The Soapbox
What's Wrong With the Liberals
Liberal figure and ARM chief Greg Barnes argues that the modern Liberal Party has little to do with liberalism.

Sport
When The Axe Comes Down
Phil Doyle braved the crowds at the Royal Easter Show to witness one of the giants of the wood-chopping game.

Week in Review
Battle Cries
What an Easter � Sydneysiders soak up the sun saluting Sunline while, elsewhere, the dogs of war are slipping their chains.

Postcard
Razor's Edge
Vince Caughley writes from Woomera where he participated in the protests over the Easter Long weekend.

L E T T E R S

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NAB Gambles, Aussies Lose

And, with the bank having refused to complete a new enterprise agreement before the restructure, workers are also unsure whether their entitlements will be fully protected.

The National Australia Bank will this week announce its intention to cut thousands of jobs and close scores of branches in a 'Positioning for Growth' statement. Estimates of job cuts range from 3,000 to 5,000.

The restructure comes after NAB lost $3.6 billion speculating in the United States on the failed HomeSide lending venture. This includes more than $9 million paid to two US executives who presided over the debacle.

The Finance Sector Union says the $3.6 billion would have covered the wages of 5,000 NAB workers, on an average annual wage of $30,000, for another 24 years.

FSU state secretary Geoff Derrick says the cuts show the pitfalls of banks speculating on extravagant investment schemes rather than concentrating on services to the community.

"NAB has to work out if it is a bank or a gambler," Derrick says. "If NAB decides it's a bank it should commit to customers and staff, not shed branches and workers to make good its gambling debts."

Branches Disappear

The job cuts and closures follow a steady reduction in staffing levels over the past five years.

In 1997, NAB had 46,422 fulltime employees. By 2001 this was down 44,983, of which about half are employed in Australia. In this light a loss of 5,000 jobs will equate to 11 per cent of the bank's total workforce

The FSU says the NAB average profit per employee is now $98,000 per year.

The full list of NAB Branch closures is:

NSW: Culburra, Milton, Gunning, Bomaderry, Gulgong, Molong, Baradine, Boggabri, Warialda, Manilla, Coolamon, Bangalow, Brunswick Heads, Urunga

QLD: Sugarland, Toogoolawah, Wondai, Kin Kora, Babinda, Cardwell, Horne Hill

SA: Goolwa, Angaston, Maitland, Orroroo, Peterborough, Quorn

Vic: Merbein, Charlton, Birchip, Warrambool East, Koroit, Coleraine, Dimboola, Koo Wee Rup, Warburton, Pyramid Hill, Angaroo Flat, Sea Lake, Nyah West, Tongala, Violet Town, Elmore, Rushworth, Stanhope, Mortlake, Willaura,

Winchelsea, Avoca, Beaufort, Portarhington, Queenscliff, Anglesea, San Remo, Toora

W.A. Williams

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Last Modified: 15 Nov 2005