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Friday, December 02, 2005

Corbett appointed to the RBA Board

He influences the price of the food we put in our mouths. He influences the price of the fuel we put in our petrol tanks. He puts banking into Woolworths stores. Now Roger Corbett, CEO and Group Managing Director of Woolworths, is going to nfluence the price we pay for our money. Woolworths takes lots of advice from Wal-Mart connections in the USA - the huge down market retailer who gets into deep water with their particular brand of employee relations. But even Wal-Mart's founder and at one time the world's richest man, Sam Walton, didn't get to influence the US greenback. At a time when Industrial Relations is high on Australia's political agenda Woolworths - who in the late 80s and early 90s cut a swathe through its permanent workforce replacing most of the permanents with part-time workers - gets a voice at the table. Is such extensive economic influence what ordinary every day Australians want to encourage?