MYR 0.00% 65.0¢ myer holdings limited

0.40 CENTS PARTY, page-144

  1. 10,386 Posts.
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    Unfortunately while you may believe 'lockdowns work', they impose huge costs on economies that politicians never discuss.

    Evidence from the World Health Organisation and many other sources suggests that lockdowns disproportionately adversely affect the least affluent.

    Small businesses can't cope with this disruption and lack of trade. Some go under, sooner or later.

    Casual employees (including at MYR, in tourism, hospitality and numerous other areas) lose income, and as a result may struggle to pay rent or even put sufficient food on the table.

    MYR has to devote management and staff time to organising store closures and reopenings, or arranging 'Click'N'Collect if that's the only reason for a store to (partly) trade.

    Lockdown details and restrictions vary between each state. This takes MYR's focus away from growing sales, ensuring it has the correct amount of stock for estimated seasonal demand and giving shoppers the confidence to visit a store in person. Not everyone reads the websites, Facebook or Instagram so I'd bet London to a brick there have been instances of older shoppers turning up outside a MYR store, mystified as to why it's not open.

    Aviation and other transport suffers. For instance given WA, NT and NSW restrictions, 'The Indian Pacific' and 'The Ghan' long distance trains (Sydney-Adelaide-Perth and Adelaide-Alice Springs-Darwin) have had several trips cancelled by operator Journey beyond, while Qantas, Virgin Australia, Jetstar and Rex are cancelling numerous flights daily, reducing the ability (and willingness) of Australians to travel for business, see family/friends, attend funerals/weddings or holiday interstate.

    Mental illness has skyrocketed. Business administrations and liquidations will inevitably rise. Investment will be below what it should have been, and this will cost jobs and result in a lower GDP growth rate.

    The rest of the world is in many cases getting back to something approaching normality. We're not, and five of the six State Premiers are fools.
 
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