Latest news with #AlbionPark
News.com.au
6 days ago
- Business
- News.com.au
‘Unviable': Foodies warned to brace for price hikes when eating out
Since opening seven years ago, Brad Pettitt's cafe has become a beloved local fixture in the tight-knit community of Albion Park, near Wollongong, and most days the 65-seater is buzzing. Despite its popularity and Mr Pettitt's expansion into catering, functions and pop-up events, skyrocketing operating costs have pushed him to the brink. Sharp increases to the cost of everything from insurance and electricity to the price of produce and stock have seen his profit margin shrink to a razor-thin five per cent. Now, the owner of Three Flamingos Espresso is bracing for the latest financial hit – a 3.5 per cent hike to the minimum wage, announced on Tuesday by the Fair Work Commission. 'Our staff work really hard and they absolutely should be rewarded, but in the context of all these other huge cost increases, it's really difficult to cope,' Mr Pettitt said. 'In the past two years, our electricity costs are up 40 per cent, gas 20 per cent, insurance and worker's comp both 10 per cent, coffee recently went up 15 per cent, bacon is up 10 per cent, and eggs, of course, the big one, is 44 per cent. 'The wage increase is modest for a few employees, but we have a staff of 24 so it all adds up to a big additional expense.' Millions of workers will see their hour rate lift to $24.95, a total of $948 per week based on 38 hours worked, up from $24.10 per hour and $915.90 per week. The Australian Industry Group estimated that the increase will see the national wages bill rise by $5 billion over the coming financial year. 'We're doing everything we can to diversify our income streams because we can't rely on day to day trade,' Mr Pettitt said. 'It's just not viable anymore.' He concedes an increase in menu prices is now inevitable – and he's not alone. Industry groups say the larger-than-anticipated minimum wage increase will hurt vulnerable businesses, especially those in hospitality, and consumers will ultimately pay. As a result, the prices of everything from a pub meal to accommodation could rise as many business owners battle to cope with higher wages bills amid especially tough trading conditions. The 'viability' of hospitality businesses and even 'the future of gastronomy' in Australia are at risk, Restaurant and Catering Association chief executive Suresh Manickam claimed. A recent industry survey by the group found 80 per cent of businesses were already considering a hike in menu prices, Mr Manickam said. 'The decision will need to be closely monitored for its impact on the wage-price inflationary spiral,' he warned. 'This wage hike is purely unsustainable for operators, as we know any increase in minimum wages has repercussions beyond a business' wage costs, and will lead to higher rates of unemployment and underemployment, and economic repercussions that impact the everyday consumer.' Stephen Ferguson, national boss of the Australian Hotels Association, said the increase was 'at the higher end of the scale' and above the current inflation rate. 'And it's certainly higher than what business groups were hoping for,' Mr Ferguson said. 'No one begrudges anyone [receiving] a pay rise with the cost-of-living [crisis], but it is definitely an additional cost of business and will have an impact.' The price a consumer pays is subject to a range of cost pressures faced by business operators, he said, adding: 'Wages are a factor, as well as electricity, food costs, insurances, and so on.' The FWC decision comes as the national economy 'muddles through' the lowest period of growth since the recession in the early 1990s, Australian Industry Group chief executive Innes Willox said. 'Business margins are falling, private sector employment and investment is weak, while productivity is barely moving … [and] uncertainty arising from global tariffs and turmoil is also beginning to weigh on the outlook,' Mr Willox said. 'While we supported a moderate increase in real award wages reflecting cost of living concerns, 3.5 per cent combined with the additional 0.5 per cent superannuation costs employers will face from next month is well beyond what current economic conditions can safely sustain. 'Its effects will fall hardest on industries such as retail, manufacturing, and accommodation and food, which are already struggling with very weak business conditions.' The painful combination of the cost-of-living crisis forcing consumers to pinch pennies and soaring business costs had seen revenue fall, Mr Pettitt said. Forced menu price rises had dealt a further blow, with a fall in volumes wiping out most of the gains, he added. 'There's only so much people can pay and it gets to point where many will just cut back,' he said. 'We've seen it with coffee, where we used to 60 to 65 kilos a week, but now we're down to 50 to 55 kilos. 'You see a lot of small businesses closing and it's not hard to understand why. If you sit down and look at the numbers, it doesn't just doesn't sense. For us, it's a labour of love.' The number of companies entering insolvency has 'risen sharply' over recent years, according to the Reserve Bank of Australia, and more than three-quarters of those are small businesses. In another clear sign of the pressure facing business operators, AMP chief economist Shane Oliver enterprise investment as a proportion of the overall economy is at its lowest level in four decades. 'Business investment fell slightly in the March quarter, with pretty weak plans for the year ahead,' Mr Oliver said. 'Private new capital expenditure fell 0.1 per cent against expectations for a 0.5 per cent gain. What's more, investment plans for 2025-26 were just 0.7 per cent higher than the same plans a year ago for 2024-25, suggesting pretty soft business investment growth in the year ahead.' Mr Oliver also pointed out that retail sales fell in April, showing consumers are still struggling with cost-of-living pressures and spending less as a result, hurting businesses' bottom lines. Small businesses are the largest private sector employee in the country and many are struggling to turn a profit in the current economic climate, advocates say. A costs crisis driven by higher rents, insurance premiums, energy bills and other input expenses have left 'razor thin margins', Council of Small Business Organisations Australia chief executive Luke Achterstraat said. 'For every dollar increase in the award rate, employers also face higher levels of workers compensation, payroll tax and, of course, another legislated increase in the superannuation guarantee from July 1,' Mr Achterstraat said. While consumer prices will likely increase, there's only so much of the additional burden businesses can pass on, he said. 'This decision will affect more than 100 different industry awards and a multitude of different role classifications. Many owners will need to personally absorb these higher costs, unable to pass on any further price rises to consumers.' And more pressure for businesses is likely, with Professor John Buchanan from the University of Sydney Business School tipping the FWC's next boost likely to be even bigger, Professor John For one, the commission flagged a potential phasing out of same of the lowest wage classifications in the future. 'In this way it does not have to 'increase rates' for low paid classifications as such,' Professor Buchanan wrote in analysis for The Conversation. 'Rather, it just eliminates the possibility of having rates for exceptionally low paid jobs – and so raises the base rates dramatically for the lowest paid workers.' Secondly, the decision marks a 'break with the recent habit' of using low paid workers as a 'shock absorber' for macroeconomic policy, he added. 'The 3.5 per cent rise is a modest increase but an important one. More important is the framework the commission has set up for decisions in future years.
News.com.au
02-06-2025
- Business
- News.com.au
Champion pacer Leap To Fame to switch to standing-start racing at Albion Park on Saturday night
Champion pacer Leap To Fame will take a surprise step right outside his comfort zone at Albion Park on Saturday night. For just the second time in more than four years and 65 race starts, Leap To Fame will switch from mobile start to standing-start racing. His only other standing-start race was on June 8 last year when Leap To Fame came off a 20m handicap to emphatically win the Flashing Red Discretionary at Albion Park over 2647m. The six-year-old's task will be even harder this week off the maximum 30m handicap and the race being over the shorter 2138m trip. Despite Leap To Fame winning first-up from a break at Albion Park last Saturday night, his trainer-driver Grant Dixon was moved to back him up quickly. • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! 'It was a bit hard to assess things on such a wet track, but I felt he should have won a bit easier,' he said. 'Trista I felt he could do with another two races before the Inter Dominion starts and that meant we really had to back him up this week. 'There was also the option of a mobile sprint race, but there are a few reasons we opted for the stand. 'He will get more conditioning from a race like this stand, especially over 2138m. Big surprise in the fields for this Saturday night- Jun 7 Leap To Fame will start in Race 6- a standing start handicap over 2138m. From 30m ðŸ'€ ðŸ'€ — The Creek (@TheCreekAlbion) June 2, 2025 'And we are thinking about taking him to the NZ Cup later in the year, which is a standing start and this could be one of the last suitable opportunities we get to show him the (standing start) tapes and see how he handles it. 'The Flashing Red and Redcliffe Cups are coming, but he'll get 30m in both of those. The Flashing Red will be a lot stronger than this week's race and Redcliffe isn't really a suitable race for him.' In Awe. LEAP TO FAME with one of his best ever tonight in The Race by @betcha_nz. He eyeballed his most recent foe, Don Hugo then put him, and the rest, to the sword to once again prove who's boss in the pacing world ðŸ'° — RaceQ (@RaceQLD) April 4, 2025 Dixon said racing again this week meant Leap To Fame could return to mobile start racing for his final lead-up race on June 21. 'Then he'll have had the three weeks and get a two-week gap before the first round of (Inter Dominion) heats (July 5),' Dixon said. Dixon felt Leap To Fame, who won narrowly but impressively first-up at Albion Park last Saturday night, needed more racing before the Inter Dominion starts on July 5. Leap To Fame makes it career win 51 and 34 at The Creek to take out The Somerset Farms Avonnova Open defeating Wisper A Secret — The Creek (@TheCreekAlbion) May 31, 2025 'I thought he should've won a bit easier and that he'd need two more runs, not just one, before the heats. 'That really meant we had to back-up this week and it made more sense on a few levels to go to this (standing start) race rather than a 1660m mobile. This will be a better conditioning run. 'It means he can run this week, have two weeks to his third run back and then another two weeks before the first round of heats.' THE CHAMP GOES BACK-TO-BACK! Another successful raid by the Queenslanders Grant Dixon and Leap To Fame, who secure a second-straight victory in the Decron Cranbourne Gold Cup! — The Trots (@TheTrotsComAu) February 8, 2025 Less than an hour after Leap To Fame steps out, his major Brisbane Inter Dominion rival Don Hugo will return from a let-up in the seventh race at Menangle on Saturday night. Don Hugo upset Leap To Fame in the Miracle Mile on March 8, but the latter turned the tables with a powerhouse win when they last met in the $1 million Race by betcha at Cambridge on April 4. They have clashed three times and Leap To Fame leads 2-1. @ClubMenangle — SKY Racing (@SkyRacingAU) March 8, 2025
Daily Telegraph
27-05-2025
- Business
- Daily Telegraph
Leap To Fame closes in on Australasian prizemoney record
Don't miss out on the headlines from Horse Racing. Followed categories will be added to My News. The champ is back. Leap To Fame launches a campaign which could see him become Australasia's all-time richest pacer when he steps out at Albion Park on Saturday night. It will be one at least two lead-up runs before the Ladbrokes Inter Dominion starts at Albion Park on July 5. Leap To Fame, who boasts 50 wins and over $4 million in prize money, hasn't started since one of the best wins in his career in the $NZ1 million Race by betcha at Cambridge on April 4. The six-year-old worked so well last Saturday, co-trainers Grant and Trista Dixon opted to take him straight back to the races without a trial. • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! 'Gee he worked well,' Grant Dixon said. 'The trials up here are only over a mile and you end up running terrific time in them, so we felt we might as well just take him straight to the races. 'We're really happy with him. By racing this week, it also gives us a bit of time in case another race or two don't stand-up between now and the Inter Dominion.' Dixon was thrilled with how well Leap To Fame handled his first trip to NZ for the big Cambridge win. 'He thrived and came home in great order. It didn't take much at all out of him and he obviously raced so well over there,' he said. 'He's carrying a bit of weight we'll need to get off him before the Inter Dominion, but we've got time on our side.' Leap To Fame has won his past 16 starts at Albion Park with the last defeat way back on November 4, 2023. He started from an awkward inside draw that night and never saw daylight before finishing fourth. Dixon pointed to a similarly awkward draw as the biggest challenge this week. 'You wouldn't believe he's drawn inside the back row again. I've never seen a horse get these awkward draws more than him,' he said. 'It makes it tricky. There's a few nice horses in this race and you can't afford to snag back at the start or you'll be giving away a huge start when they're running super times up front. We're going to need some luck.' Leap To Fame, who won the 2023 Inter Dominion and missed last year's series with a health issue, is a $1.50 prepost favourite for this year's $1 million final on July 19. Dixon will also have recent stable addition Captain Hammerhead, who beat the great stayer Swayzee in the Albury Cup earlier this year, step-out at Albion Park on Saturday night. 'His trial for us was OK, but we're still getting to know him,' he said. 'We'll know a lot more after this race and we've gone to the standing-start race because we're looking at races like the Flashing Red and Redcliffe Cup with him,' he said. Captain Hammerhead won 14 races and more than $350,000 for Victorian trainer David Moran before switching to Team Dixon a few weeks back. Team Dixon also has two of the major players – Fire And Passion (gate two) and Fight For Glory (11) – in Saturday night's $50,000 Group 2 Qbred 2YO final, which shapes a key pointer to the $500,000 Protostar. 'They're both nice horses – given the draws Fire And Passion is our best hope, but Barsby has the pole and will be hard to beat,' Grant said. • Adam Hamilton is a paid contributor writing on harness racing for News Corp. Originally published as Leap To Fame has prizemoney record in his sights as he launches new campaign at Albion Park
News.com.au
27-05-2025
- Entertainment
- News.com.au
Leap To Fame has prizemoney record in his sights as he launches new campaign at Albion Park
The champ is back. Leap To Fame launches a campaign which could see him become Australasia's all-time richest pacer when he steps out at Albion Park on Saturday night. It will be one at least two lead-up runs before the Ladbrokes Inter Dominion starts at Albion Park on July 5. Leap To Fame, who boasts 50 wins and over $4 million in prize money, hasn't started since one of the best wins in his career in the $NZ1 million Race by betcha at Cambridge on April 4. The six-year-old worked so well last Saturday, co-trainers Grant and Trista Dixon opted to take him straight back to the races without a trial. 'Gee he worked well,' Grant Dixon said. 'The trials up here are only over a mile and you end up running terrific time in them, so we felt we might as well just take him straight to the races. 'We're really happy with him. By racing this week, it also gives us a bit of time in case another race or two don't stand-up between now and the Inter Dominion.' Dixon was thrilled with how well Leap To Fame handled his first trip to NZ for the big Cambridge win. 'He thrived and came home in great order. It didn't take much at all out of him and he obviously raced so well over there,' he said. 'He's carrying a bit of weight we'll need to get off him before the Inter Dominion, but we've got time on our side.' Leap To Fame, you are INSANE ðŸ'¥ Leap To Fame breaks the track record at Cambridge on the Night of Champions Grant Dixon trained and driven to victory in the $1m The Race by Betcha for slot holders Solid Earth Pty Ltd (Kevin & Kay Seymour) Replay: #FNL — Trackside NZ (@TracksideNZ) April 4, 2025 Leap To Fame has won his past 16 starts at Albion Park with the last defeat way back on November 4, 2023. He started from an awkward inside draw that night and never saw daylight before finishing fourth. Dixon pointed to a similarly awkward draw as the biggest challenge this week. 'You wouldn't believe he's drawn inside the back row again. I've never seen a horse get these awkward draws more than him,' he said. 'It makes it tricky. There's a few nice horses in this race and you can't afford to snag back at the start or you'll be giving away a huge start when they're running super times up front. We're going to need some luck.' Leap To Fame, who won the 2023 Inter Dominion and missed last year's series with a health issue, is a $1.50 prepost favourite for this year's $1 million final on July 19. He’s back … champion pacer Leap To Fame resumes @TheCreekAlbion Saturday night. First lead up run before the @ladbrokescomau Inter Dominion starting July 5. Not raced his epic @cambridgeracewy win April 4. — Adam Hamilton (@AdamHSport) May 26, 2025 Dixon will also have recent stable addition Captain Hammerhead, who beat the great stayer Swayzee in the Albury Cup earlier this year, step-out at Albion Park on Saturday night. 'His trial for us was OK, but we're still getting to know him,' he said. 'We'll know a lot more after this race and we've gone to the standing-start race because we're looking at races like the Flashing Red and Redcliffe Cup with him,' he said. Captain Hammerhead won 14 races and more than $350,000 for Victorian trainer David Moran before switching to Team Dixon a few weeks back. Team Dixon also has two of the major players – Fire And Passion (gate two) and Fight For Glory (11) – in Saturday night's $50,000 Group 2 Qbred 2YO final, which shapes a key pointer to the $500,000 Protostar. 'They're both nice horses – given the draws Fire And Passion is our best hope, but Barsby has the pole and will be hard to beat,' Grant said.
