|Issue No 29||03 September 1999|
Workers’ Savings to Bankroll Vizard Plan
Industry superannuation funds have been asked to provide seed money for Vizard e-commerce project, meaning members' retirements savings will bankroll the plan.
Workers Online has learned that several of the large industry funds have been approached by the company and ACTU secretary Bill Kelty to provide the money to get the project off the ground.
Four separate industry funds are believed to have agreed to pay $1.5 million each. While they were asked to put more than this into the project, it still represents 50 per cent of the up front funding.
Industry sources say its unclear what the terms of the agreement are, but it is unlikely that the funds will get a working control of the portal. The funds are believed to be: STA, ARF, LUCRF and LERF.
The money would be used to develop and promote the website that would become the base for the online merchandising. Under the Virtual Communities business plan, the website is the main revenue source for the proposal.
The ACTU executive last week voted 49-1 to accept the Virtual Communities proposal in principle. Individual unions' participation is voluntary and will ultimately be determined on a branch by branch basis.
Meanwhile, new research has highlighted the importance of getting the union movement's Internet strategy right.
Forrester Research says young people are emerging as a "Net-powered generation". Their "technology internalisation" affects their behaviour and attitudes, and will reshape the economy.
According to the research 16- to 22-year-olds spend nine hours a week online, 40% more than adults, and have new attitudes - they want deep and accurate information anywhere at any time, believe their personal information has value and that unlimited choice is virtually a right.
Describing this as a watershed for the Net, Forrester says: "Companies that fail to meet these expectations will be left behind." Unions too.
Activists: Virtually Here - Eric Lee
From the Kibbutz to cyberspace, Andrew Casey profiles the work of an Internet class warrior.
Interview: Net Benefits
Sean Kidney has been combining business savvy with social justice for more than a decade. He gives us his take on unions and the Net.
International: Dateline Dili
As the United Nations attempts to begin counting the votes from East Timor’s independence referendum, the capital Dili is rapidly spiralling out of control.
Unions: Secret Herbs and Spices
Read KFC worker Claire Hamilton's speech to last week's Second Wave Rally.
Politics: Loosening Labor’s Links?
Is Labor under Kim Beazley fundamentally changing its social appeal and turning itself into the Australian equivalent of Bill Clinton’s Democrats?
Labour Review: What's New at the Information Centre
Our regular update on papers and articles for union officials and students.
History: Immigration, Racism and the Labour Movement
An upcoming conference asks some hard questions about the politics of immigration.
Satire: Crime Figures Down: NSW Elections Postponed
The release of statistics showing decreasing crime rates has threatened to delay the next NSW election.
Review: Trains of Treasure
A new CD of poems and songs pays tribute to our rich locomotive history.
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Last Modified: 15 Nov 2005