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Iron ore going from hero to zero?

You don’t need to listen too closely to hear the pips squeaking in Western Australia’s iron ore lemon after a week-long debate about the state’s most important industry, which appears to be heading for a crisis that will hit companies and governments in equal measure.

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Geraldton
Tim It all might be a bit amusing to some but tell me did anybody at the conference last week have any ideas how contractors are supposed to deal with the fallout of the "boom " times. The expectations are now that contractors are somehow supposed to absorb a 20 to 30 percent reduction in rates. All this while our regulated labour market EBA's have shot us all up the backside with no way out. Rates are unsustainable as a result of a workforce that has been spoilt rotten by the good times fuelled by the frenzy of the past few years. Any profit margins were squeezed in the good times and are now being smashed on the way down. Contractors that have tried to maintain a permanent workforce are going to have a fun time of it starting about now and earlier for some. Meanwhile everybody has their dark glasses ( blinkers )on and their earplugs in listening to triple J!!!!!! .

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