RWC has learnt from the fracas surrounding ELD after the latter...

RWC has learnt from the fracas surrounding ELD after the latter gave a 'secret presentation' to two groups and was forced (probably because Goldman Sachs demanded a briefing, having been omitted) to reveal it had done so. Many wondered what was discussed with ELD's response not able to address the perception hard questions had been asked, with some suggesting subsequent SP falls and later increased shorting were linked.

The pictorial on page 20 is excellent, though highly technical for those whose skills don't lie in trades like plumbing.

Few in the subsector would, but it might be better if the USA plumber pictured on pages 11 and 12 wore eye protection. Do tiny fragments ever fall from such installations?

In locating manufacturing plants, RWC has to consider not just the capital costs of setup but employee wages/salaries plus on costs, as well as the time and expense in freighting partly completed fittings between Australia and the USA or vice versa. The tax and business environment, currency conversion, energy needs and costs plus demand in each area of the world in which RWC operates are other factors to be internally debated and risk assessed.

It's surprising RWC hasn't transferred more manufacturing from Australia as we are increasingly a high cost environment with poor governments that are not business-friendly. Think energy costs for a start that must be skyrocketing in Victoria for RWC, given the refusal of the state government to allow exploration for natural gas and its hostility towards that fuel and coal-fired power stations.

We're throwing away our historic competitive advantages in Australia such as cheap and abundant energy. Mainland China and India, two powerhouses, don't behave as our 'wokists' do. They know high cost renewables alone are no solution as they cannot provide baseload power. Mr Chris Leithner is often featured in the 'lively' blog: he gives a detailed explanation as to why this is so.