Yes, I think there are hundreds of thousands who survive on current pay rates. How someone can get financially ahead and not have to worry about money on $26 an hour is my point.
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Yes, I think there are hundreds of thousands who survive on current pay rates. How someone can get financially ahead and not have to worry about money on $26 an hour is my point.
I believe the Government are going to have to lift their funding in this area. If not companies with a high focus on care beads like Oceania will get hit very hard.
There's basically no money in care bed and dementia facilities. If you drill down into the accounts you will see that SUM makes virtually 100% of its money from development margin and profit on resale of its existing units. This won't hit SUM very hard at all but as you say the worry is that many not for profit operators like the Salvation Army and Presbyterian support services that provide extremely valuable widespread support to the elderly get really hurt by this.
This won't hit SUM or MET very hard at all, and likely also not Ryman, Oceania and Arvida... they have it easy: they can move to new models (ORA's, premium add ons) or pass on costs... (which they have already been doing, without much issue).
it is the not for profits, and small operators with little to no scale that will suffer the most, as they struggle to pass on costs via raising prices
True, but also because the job is at the lower end of skills needed. And there are government top ups as well - Working for Families, Accommodation Supplement - and the government will have factored in reductions in these to its costings.
Similar to the so-called living wage - Treasury advice was that the main beneficiaries are the government and very young workers.
Bought more today at around $5.25 but will leave it at that for now as this knife has fallen furtherest from the retirement stock table today, people freeing up funds for the Oceania float as you suggested Roger? can't for the life of me understand why you would sell this stock in order to buy Oceania. PS-I have equal dollar value in Ryman and Sum currently, interested to see which horse is in front in a months time with the Ryman result coming up end of May.
I couldn't agree more. Oceania will be affected to a far greater degree than SUM by forthcoming changes to pay rates in the care sector. The float price for Oceania was set before today's news. Logic would suggest the stags won't do very well out of the Oceania float but stranger things have happened so you never know. SUM my #1 holding and very happy to hold long term.