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Issue No. 134 03 May 2002  
E D I T O R I A L

The Hijacking of May Day
Unionists watching the shambolic and violent affair that was the M1 protest could be forgiven for wondering what has become of the traditional workers' day?

F E A T U R E S

Interview: Youth Group
Federal Labor's youngest frontbencher, Nicola Roxon, on how the ALP can win back the hearts and minds of the young.

History: Back To The Future
As building unions put old animosity aside, Neale Towart looks at the history of the 'demarc' - and the steps taken to avoid them.

Industrial: On the Street
Jim Marr looks at the human cost of Treasurer Peter Costello's refusal to fund a pay rise for community workers.

Unions: The New Deal
Adam Kerslake outlines the importance of the ground-breaking pact between unions in the building and civil construction industries.

Legal: The Police State Road
Rowan Cahill argues that the Howard Government's new anti-terror laws carries echoes of a more sinister past.

Women: What Women Want
When 300 ALP women from around Australia converged on Canberra for the National Labor Women�s Conference they had more than quotas on thier minds, Alison Peters reports.

Politics: Street Party
Paul Howes looks at how May Day was celebrated around the Globe by those involved in trade unions and those who are not.

International: The Costs of War
Ariel Sharon is facing growing pressure from Israeli unions over the conduct of his war on Palestine, reports Andrew Casey.

Review: Songs of Solidarity
It had rock, grunge, pop and rap. The May Day union anthem song contest had everything, including an element of surprise thanks to competition winner Swarmy G.

Satire: Bono Satisfies World Hunger for Preachy Rockstars
U2�s lead singer Bono has launched a daring solo mission to end the world�s hunger for rock stars who use their high profiles to crap on self-righteously about charitable causes.

Poetry: Woomera
Divide and rule, that age old tactic...the lips of defence personnel inexcusably sewn to dehumanise an imaginary threat, the lives of asylum seekers incomprehensively dehumanised so as to defend a threatening image.

N E W S

 Yarra Seamen Take Border Stand

 War on Terror Targets Unions

 Year Zero for Building Unions

 Kinkos Copies Anti-Union Script

 Nike Told to Shoosh on Sweatshops

 Rapper Wins Wobbly Anthem Prize

 Technicians Take Aim At Canon

 Unions Target Labour Hire Bidding War

 Rally Targets Tight-Arse Costello

 Councils To Be Audited On Language Allowance

 Scope For Payback In Privacy Limitations

 Heavyweight Push For Medibank Private To Stay Public

 What About Dad? - TWU

 East Timor MPs Question Timor Gap Plan

 Artists' Union Bans Voice For Peace

 Activist Notebook

C O L U M N S

The Soapbox
Maurie on May Day
PSA supremo Maurie O'Sullivan had them in the palms of his hands when he delivered the traditional May Day Toast.

The Locker Room
Impractical Punting
Most of life is six to five against. That is, unless you know a Packer or a Waterhouse. Phil Doyle expands.

Bosswatch
Show Me The Money!
It may be May Day - but life in the banking industry has never been sweeter - unless you're in the gambling caper.

Week in Review
Two Bob Each Way
The double standards of modern life have left Jim Marr scratching his head.

Tool Shed
Border Insurgent
Deputy Prime Minister John Anderson has blockaded himself into the Tool Shed this week for opening Australia's borders up to flag of convenience ships with Third World crews.

L E T T E R S
 Doctors in the Bush
 M1 Open Letter
 Julian Online
 May Day Debacle
 Mothers Day Musings
 Greetings From Canada
WHAT YOU CAN DO
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Show Me The Money!


It may be May Day - but life in the banking industry has never been sweeter - unless you're in the gambling caper.

TabCorp Chief Hits Jackpot

The gambling industry has created mind-boggling wealth to the outgoing managing director of Victoria's Tabcorp. The SMH reports that TabCorps announcement this week to buy back it's own shares pushed the value of shares up and up past $12. The decision couldn't have been better timed for outgoing managing director Ross Wilson who has 3 million options exerciseable at $10.18. . Wilson is now $4.89 million in the money on those options and faces the prospect of a buyback supporting the Tabcorp share price. And that's not including his shares. Wilson is up $36 million on his 3.74 million ordinary shares, even once he's paid back the interest-free loan of $8 million he got to buy them. With $41 million-odd in the pocket he should have a fair-to-middling retirement when he departs in August.

Crime Does Pay?

The big banks may cop grief for closing branches and cutting services but investors who have backed the banks over the long term are sitting on truly outstanding gains. The Commonwealth Bank hit $5.86 in October 1992, and is now 5.6 times higher, at $32.87. Westpac was pushed down to an almost surreal $2.74 in the same month of 1992 and is now six times higher, at $16.51. National Australia Bank shares were as low as $5.09 at the end of 1990, and closed Friday at $35.50, seven times higher. Shares in the ANZ are also seven times higher than their $2.78 low in October 1992. To put it another way, in about a decade shares in the Commonwealth, Westpac, NAB and ANZ have doubled, doubled again, and then risen by 40 per cent, 51 per cent, 74 per cent and 75 per cent respectively. And that is capital gain only: the banks have also been producing solid dividend streams for their investors.

Big Mac Index Shows Aussie Lags

The Economist magazine has just released its latest Big Mac index showing the Australian dollar was the worst performer among the world's "rich" countries. The light-hearted index compares the cost of a Big Mac in 120 countries. It is used to calculate whether a nation's currency is at its "correct" level. The Australian dollar's value was found to be 35 per cent undervalued against the US dollar. In the US Big Macs cost $US2.49. In Australia they cost $3. The Canadian, Japanese and New Zealand currencies also did not fare well, but performed better than the Australian dollar. We reckon there's scope for a similar index based on the wages Maccas workers earn - watch this space for more.

Lights Go Out At Bulb Factory

The last light bulb made in Australia has rolled off the production line at a factory in Newcastle. The Electric Light Manufacturers Australia (ELMA) plant last week closed after 70 years of operation, because it is unable to compete with cheap imports. ELMA announced the closure in February and plant manager Mike Gill says since that time, the company has been busy trying to find other jobs for its 220 employees. Long-time employee Danny Grigg says the closure should send a message to people to support Australian-made products. "Australians are going that way that they're closing down all over the place and it's a shame that it's had to end this way, but everything's moving offshore," he told ABC.

Patrick Purchases Ansett Terminal

Suspicions that Chris Corrigan is planning world domination - or at least an integrated transport network - were confirmed with news that has Patrick Corp made its first purchase from the collapsed Ansett group. Corrigan this week picked up the failed airline's international cargo division. Ansett's administrators say the 86 workers employed in the Ansett International Cargo Holding operation will be offered jobs with Patrick Corp. The deal will strengthen Patrick Corp's cargo stronghold, linking its national road, train and dock movements with the lucrative air cargo industry.

Media Mega-Merger Bombs

The much hyped AOL-Time Warner has burned $US54.2 billion in the first quarter of the year, the biggest quarterly loss in US corporate history. The loss was reflected by new accounting rules and a slide in the value of the merger of AOL and Time Warner, a corporate marriage that created one of the world's largest media conglomerates. The huge loss, equal to the gross national products of countries like Uruguay or Bulgaria, was expected but reflects a stunning reversal for the media giant. Losses for the quarter were $12.25 per basic share.

NRMA Smashes Dissident

And finally, spare a thought for a little guy chasing the big guys. Long-standing NRMA member Bill Snodgrass organised a resolution to require directors elected from 1999 to disclose details of their election funding - a resolution supported by 69.9 per cent of the members at the AGM last year. But first NRMA took him to court. Snodgrass represented himself, but the judge hearing the case suggested he get legal representation. Snodgrass then won his argument that he be permitted to put the resolution to the meeting. NRMA appealed - and lost the appeal. Snodgrass's appeal costs came to just above $40,000. NRMA's reported costs were more than $200,000, according to BRW. NRMA was ordered to pay Snodgrass's costs. Six months after the action, Snodgrass - who won not once but twice in court - is still owed his costs. His lawyers offered to settle for $39,737, he says, but NRMA refused, insisting that his costs be assessed by the court.


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