Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Australian Wine Society Million of Dollars in Debt

HEALTH
It seems just about everybody is investing in vineyards. The wine industry has drawn in big investors and hobbyists. Unfortunately, people do not think before they jump in. They are seeking to fulfill a dream: there is a certain amount of glamour involved in saying I am a wine maker, a vintner.
Wine society drinking
Too much drinking not enough thinking
There is a world glut of wine, particularly the cheap ones. Nations have pushed to establish new vineyards. It has the aura of a local car industry or airline. Newcomers enter the industry all the time without doing any research and little training.

It is no surprise to hear that the oldest wine club in Australia founded in 1946 is in the red, by a shocking amount. It owes a staggering $4.2 million to its wine producers. It operates as a distributor, buy and selling, though ostensibly not-for-profit. Supermarket chains sell nearly all wine in Australia and in a situation of oversupply they don't pay much for it. These major players "do" their homework, unlike the suppliers.

The Wine Society is in deep trouble. Things are so bad that membership of the prestigious club has fallen by a quarter over the last three years. Demand for premium wines which used to have a high, profitable markeup has dramatically decline. Consumers buy more of the cheap stuff.

To clear the debt a complicated "splitting" of the business is taking place. However, selling the wholesale section to the Fogarty Wine Group for a measly $75,000 will not help its finances are all. This will allow the society to borrow $3 million. Taking on more debt is folly.
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The Young Need to Change Their Attitude to the Elderly

There is a lot of talk about the percentage of elderly people in the population increasing as time goes on. It seems rational to suggest that they should stay in the workforce. Unless there is legislation to force young Australians out of the "desk" jobs and into manual labor, this will not happen.
Elderly working
As one gets older the body lets you down. You no longer have the stamina to keep going, on a production line for example. Persistent pain that you have to live with is also a problem. Chronic illness can only be treated, not cured. Where do you draw the line between keeping someone at work who is clearly sick or sending them home? When an elderly person says, "I can't do that anymore", maybe they can't.

If you are young good health is taken for granted. You heal quickly and continue to enjoy life. For many, to be old is to be sick. Medical specialists do refuse treatment to the elderly because it is seen as a waste of money, notwithstanding the fact that a new knee or hip would make life less painful.

The whole structure of society will have to change to keep the elderly employed. Young people have the feeling that a "mature" person should work as hard as an employee in their twenties. A significant proportion of the young believe that the assets of the elderly should be taken by the government and spent on them, even though retirees worked hard in their younger days to buy homes.

We will need a Star Trek world where people choose to work not for financial gain but to benefit others. Such a world is too utopian to be believed. It is not the elderly who need to change, it is the young. Respect and consideration of the elderly is not something the young understand.
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