23 September 2006
Australians lock out New Zealand shareholders, workers
The Green Party welcomed the victory won by New Zealand workers and the National Distribution Union in the face of the
aggressive lockout tactics used by the Australian owned Progressive Enterprises, but also deplored how the ANZ Bank had
put Feltex into receivership, thus effectively locking out its shareholders and putting the jobs of Feltex workers at
risk..
" The key victory that the workforce and its union leadership won at Progressive was pay parity across its three work
sites - which means a national collective agreement in everything but name. They won this by staying staunch, and their
resolve ultimately convinced Progressive to enter negotiations and concede virtually everything the union was asking
for," Green Party Industrial Relations Spokesperson Sue Bradford says.
"The extent of community support was extraordinary, and played a big part in the final outcome. Here we had one of the
biggest industrial disputes in New Zealand in over a decade, and yet the community got right behind the workers, and
lent them moral and financial support. That message of community sympathy and support is one that employers and their
business lobby groups should be taking on board.
" With Feltex, the ANZ's premature action is utterly deplorable. At the very least, Feltex shareholders should have
been given the chance to pass their verdict on the alternative bid by the Turner brothers, which claimed to offer a
fully funded way of enabling Feltex to trade its way out of its current difficulties, thus saving most of, if not all of
the jobs of the company's New Zealand workforce.
The "Yes" bank has, in reality, been shown to be the " No" Bank.. By putting the company into receivership, the ANZ has
effectively locked out Feltex's Kiwi investors. By its actions, the ANZ has also opened the door to the possibility that
the likes of the Australian firm Godfrey Hirst - which is based in the tax haven of Vanuatu - could come in later, and
asset strip the Feltex remains...
"What these two disputes signal loud and clear is the vulnerability of New Zealand firms and workers to the actions of
Australian companies and banks that have no interest or commitment to the wellbeing of New Zealanders, and of our
communities.
The Progressive workers and their union have shown that a successful fight back can be mounted, and they deserve to be
warmly congratulated. With Feltex, all efforts must now go into trying to ensure that the jobs of New Zealand workers
are not lost in the fallout. "
ENDS