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Gina Rinehart: the whole story

Hancock Prospecting chair Gina Rinehart caused a stir last week when she suggested the minimum wage be cut and called for people who are jealous of the wealthy to socialise less and work harder.

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Perth
Its interesting how the media takes everything out of context. The media is manipulative and does nobody justice

West Perth
Totally agree!! Socialism creates complacency . The way we're heading we will become another Greece,Spain......

Perth
Wow - how amazing the secular mass media screwed that one up for the sake of sensationalism. Great message.

Manjimup
Unbelieveable the media has blown Ginas comments completely out of proportion as usual. All that is reported is the billionare tells us to wark harder with less socialising. That is a great well written article and typicle media scare mongers need to publish the whole story and not just the normal derogitry rich person bashing.

Osborne Park
Succinctly and clearly put by a passionate caring Australian.Sadly newspapers only write what will sell their papers and left wing unions and politicians want to make us dependant on them not our own resources. Greece, Italy, Spain, Argentina, Portugal here we come.

bassendean
everything she has said is correct, it would seem she has been quoted out of context for effect and sensationalism. I suggest a public debate between Ms Rinehart and the journalist who wrote up the story

Thanks for printing the whole story. Putting those quotes in context makes it clear that: 1. Rinehart has an overinflated, even deluded, sense of mining's importance to the economy, while completely overlooking the sector's negative impacts (e.g. soil degradation, air and water pollution and the removal of a non-renewable resource from future generations). 2. She feels comfortable making judgements about other sectors (e.g. fishing) despite knowing nothing about the essential technical and scientific details (e.g. the relatively low productivity of the oceans surrounding Australia compared to other fisheries). 3. She does not understand the concept of renewable v. non-renewable resources. 4. She knows nothing about the concept of ecosystem services, nevermind the massive financial contribution that these make. 5. She has a very limited idea of what constitutes valuable human endeavour.

Haynes
Not a truer word spoken, Go Gina.

Margaret River WA
Well said Gina!! Having run a small business for 25 years it still confounds me that a business gets charged more for everything we do. Why is it that our governments (Local, State and Federal) feel it necessary to financially penalize us for being "in business"??

Trevelen Farm Wine --- Great Southern Region Cranbrook
After reading the article by Gina Rinehart, I apologise for thinking as I did when I heard a jaundiced interpretation last week. The complete Rinehart article mirrors what most people I know, think. "Be careful Australia, do not put too many spokes in the progressive wheel of this lucky country". I for one am sick and tired of the "nae sayers " who get prime news time whenever some positive ( mostly economic) development is suggested . There are many more of us with positive outlooks than those who are against everything.

Osborne Park, WA
Thanks Gina Australia still is the lucky country. However Australians are spoilt and the media live on sound bites. We sure are pricing ourselves out of the market and bureaucracy, taxation and regulation will be our downfall. More people should be given history lessons and not entitlement lessons.

This is all reminiscent of Ayn Rand's book "Atlas Shrugged". I personally took myself and my entrepreneurship overseas, and built a multi-million dollar company, several of my closest friends are ex-patriate Australians who have done the same. The business heads are already leaving th sinking, over regulated ship, bye bye!

WA Perth
Thanks Gina for writing this with honesty and WA Business to published this. As a foreigner, this is the true information that must inform everyone who own this nation and land. Don't let Australia become another economy crisis victim. Learn from other mistake to continue the bright future in this land. And, I am not going to sing! Slow down and take it easy Australia!

Perth
I wonder if Gina would run for PM? I for one think she would do a better job than any of our current politicians. The media should be held accountable for misleading the public.

Gina - You have no idea. Yes we should all eat more Hungry Jacks and allow unroadworthy trucks onto the roads. Who is going to pay for the hospitals Jack Cowin, Lindsay Fox or Gina.

Albany
All this debate reminds me of a quote by Mark Twain."Sometimes I wonder wether the world is being run by smart people who are putting us on , or by imbeciles who really mean it"

Gina is wrong. Without a welfare system the divide between rich and poor increases. Look at India, pre 90's South Africa, pre 70's Australia allowing companies to pay low wages to employees creates more poverty for a nation not growth. Learn from history don't rely on rhetoric.

West Perth
On balance, what I would have expected from someone, who inherited her wealth (or the base of it), if she were to live a day of the life of a minimum wage earner, she would change her tune by lunchtime.

London
I think Gina has raised some very important points ... where I think Gina needs to be careful is the balance between business investment and workers be paid a reasonable wage couple with the challenge of being competitive internationally. I am sure when James Nichols started off cleaning tables at Cobb & Co ... those tiny wages would not have been compared to international low cost wages such as slave labour ... similarly, when George Hancock built up his sheep station, I assume he paid the shearers etc a reasonable wage for their hard work. I don't think Australians are afraid of hard work. As a civilised country we need to be very careful comparing our cost base to countries that have no ethics, standards or values. Do we aim to compete with companies like Nike using sweatshops with people working 14 hour days on below living wages? ... or Primark-London fashion store where children are paid 60 cents a day to enabel Primark to 'invest' in all the the shop staff the employ? Blue chip companies outsourcing to Indian call centres where staff are abused and threatened and paid minimal wages ... is this the 'investment' that Gina is talking about??? I now live in London and see the real impact of business 'investment' and it strive to achieve the lowest cost base at whatever social cost. Information Technology can easily be undercut (and is) by using resources from other coutries that are willing to be paid peanuts to do the same job (all be it terribly bad). It is extremely difficult to complete with countries that have access to massive populations that can be paid below the basic minimum wages. There will always be a lower cost base ... as these developing countries such as India etc increase their individual disposable incomes and costs increase, another low cost base resource will easily be found ... we are already seeing the move to other cheaper countries (Malaysia, Indonesia)... where does it end? I also understand that people today are becoming increasingly lazy and expect everything to be given to them without having to put in the hard work. So the key here I think is balance ... we do need to remain competitive and have business investing ... but we also need to ensure wage standards are maintained and that the old Aussie work hard ethic is there.

Victoria
Gina Rinehart wouldn’t know hardship and economic reality if it dropped on her from a height! For so many Australians economic reality and real life hardship dictates that they grow up in households that experience poverty and brokenness due to racial discrimination, crime and incarceration, family breakdown, parental drug and alcohol abuse, poor education, little or no job training, lack of access to employment opportunities, no funds or support to move to areas of higher employment, disability and illness that restricts or completely destroys any hope of future employment, disability and illness that suck up whatever funds do come in, even natural disasters that decimate homes and businesses and livelihoods...and the list goes on! To suggest that Australia’s welfare dependents are all lazy, recalcitrant, drug and alcohol abusers who would rather socialise than do a ‘decent day’s work’ is an insult to tens, even hundreds of thousands of Aussies who endure day after week after month after year of hardship through absolutely no fault of their own...no matter how hard they try they just don’t get a break...and yet so many maintain a brilliant attitude and just keep giving it a go. Many Australians are trapped in a poverty cycle of economic fear and hardship that Gina Rinehart could never understand, never mind survive. Sure, some of what Gina has to say is just fine...commendable even...but so much of her rhetoric is absolute poison that reflects a misunderstanding of the harsh reality of life for many of her fellow Australians.

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Revenue

1st-Hancock Prospecting$6.04bn
2nd-Roy Hill Holdings$3.84bn
3rd-BGC Australia$2.50bn
4th↑Wilson Parking$1.15bn
5th↑Quadrant Energy$1.02bn
113 private companies - large ranked by revenue most recent financial year

Year established in WA

20th-Mrs Mac's1954
21st-Hancock Prospecting1955
23rd-Karragullen Cool Storage1962
24th-MG Kailis Group1962
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