Black Monday

[bull....]

Coronavirus: Record fall for credit card spending in March, Reserve Bank says

https://www.stuff.co.nz/business/121...erve-bank-says

this data was before lock down so they are saying april will be dire

[dobby41]

And the China market has opened up just in time for our apple and kiwifruit exports.

Dairying kicks in from June/July.

It was the logs I was thinking of.
We had a huge stockpile and it seems to have gone.
Maybe Russia stopped sending logs to China so they need ours again?

[Manukatana]

who here thinks NZX market will go down this afternoon?

[bull....]

heres a april log report , not quite back to business levels yet

http://www.laurieforestry.co.nz/Monthly-Newsletter

[Balance]

no needs to be sooner than that , heaps people be unemployed by then. once the wage subsidy is finished companies be laying people of in droves to pocket the difference.

You one of them, bull ...?

https://www.nzherald.co.nz/nz/news/a...ectid=12327324

More than $17 million paid to businesses through the wage subsidy scheme has had to be refunded to the Government after businesses which were not entitled to the scheme took the money.

The Government is now looking into criminal prosecutions for businesses who have wrongly taken taxpayers' money.

[workingdad]

who here thinks NZX market will go down this afternoon?

My guess is yes, Friday afternoon of a long weekend.... a lot can happen in three days

[Manukatana]

Us market futures are not looking so well so may affect mood of the market here too?

[Sideshow Bob]

It was the logs I was thinking of.
We had a huge stockpile and it seems to have gone.
Maybe Russia stopped sending logs to China so they need ours again?

Logging in NZ stopped in February, long before the lockdown in NZ. Probably all shipped and gone.....

Looks like restarting Tuesday.

[bull....]

You one of them, bull ...?

https://www.nzherald.co.nz/nz/news/a...ectid=12327324

More than $17 million paid to businesses through the wage subsidy scheme has had to be refunded to the Government after businesses which were not entitled to the scheme took the money.

The Government is now looking into criminal prosecutions for businesses who have wrongly taken taxpayers' money.

this is what i was talking about

The Warehouse asks staff to take 10 to 20% pay cuts or face redundancy


In an email to staff, the retail giant asked staff earning between $60,000 and $100,000 to take a 10 per cent pay cut until June 30, while staff earning above $100,000 were asked to take a 20 per cent pay cut. Those earning below $60,000 will not need to take pay cut.
Workers were told if they did not consider the temporary pay cut by Friday, they would be consulted on "other options including potential redundancy

https://www.stuff.co.nz/business/121...ace-redundancy

start redundancy talks now and there last day will be when the subsidy finishes , perfectly legal i understand. and the warehouse have claimed the subsidy , i believe this type of thing will likely be mass imployed. then they pocket the difference

[Southern_Belle]

Logging in NZ stopped in February, long before the lockdown in NZ. Probably all shipped and gone.....

Looks like restarting Tuesday.

Correct. I have a brother in logging.... back to work Tuesday