Retail, building & construction (commercial & residential), banking and finance, tourism & hospitality and manufacturing are in a slump.
I am afraid there are not that many caterpiller dump trucks in our coal mines that can make use of those 1000 ANZ staffers to be laid off.
Even Saul Eslake says retail will see a huge job shake out soon. These bank managers can try selling Ford Falcons or Commodores.
Seriously, motor trade will be the next industry to get a huge kick in the guts.
Just check out the near spanking new Merc and BMW in the PRE-OWNED car years and you know the Sheet has finally hit the fan.
Get a reality check.
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Glen Diemar, MD
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