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CC Tonight, big business

chews over

CC Tonight, big business chews

chews over in-Government's

response. Thousands line up for

handouts in Brisbane. We will

not run out of food. We have

heaps of food for you today.

And back to basics. Grammar to

make a classroom comeback.

There is a real case for

increasingly explicit teaching. Good evening, Lisa

Millar with ABC News. It's got

a long way to

a long way to go but tonight

there are signs that the worst

of the credit crunch may be

over for borrowers at least.

The ANZ bank has dropped its

variable mortgage rate, citing

a cut in the cost of money. It

was one bright spot on the

horizon for the Government

today as big business told

Kevin Rudd the economy is

undoubtedly going downhill.

Greg Jennett reports. Austerity

went right down to the

went right down to the menu.

Bread and dripping today.

Sandwiches and juice for the

corporate titans and a sobering

story for the Prime Minister.

The business outlook is clearly

turning for the worse. It's the

same story on Main Street. Do

you feel confident about the

future? Nup. Business missed

out on direct handouts in Kevin

Rudd's deliberately targeted $10 billion

$10 billion stimulus

package. But he doesn't rule

out further spending. The Government remains determined

to act. There was little talk

of pay cuts for executives

today. What sort of pay cut

will you be asking these people

to take? Bank rrz starting to

look responsive. ANZ has jumped

ahead of its rivals, slicing

0.25 of a percentage point off

its variable rate, taking it

its variable rate, taking it to

8.25%. With ready to come down

and the Government guarantee on deposit and wholesale

liabilities, we expect our

borrowing cost to come down and

thought it was time to pass

that on to customers. The cut

will be delivered in 10 days.

The Treasurer calls it responsible action families

expect and deserve but the

banks are still operating at

margins around 50 basis points above official

above official rates and the

ANZ says passing on further

cuts could take time. Some bank

economists are predicting

steady slices in official rates

all the way to Easter. The bad

news is that each RBA move would confirm a further slow-down. Together we're

going to come through this

thing in good shape. Courage,

confidence, optimism, vitally

important. A streak of bipartisanship

bipartisanship at the big and

small ends of town.Interest

rates may be falling and the

Government may be pump timing

but the real economy is

spooked. Small businesses are

already feeling the heat of the

global financial crisis. The

roller-coaster financial

markets are affecting

confidence and that means

consumers aren't spending. The

first winds

first winds of change from the

global financial crisis are

fluttering through the real Australian economy. It's

really about confidence,

absolutely about confidence and

restaurants are the first bit of discretionary spend to

go. The outlook for Australia's

restaurateurs is gloomy. We'll

see the number of businesses

slowing, we'll see employment

in businesses slowing, we'll

see the number of casual hours slowing. Businesses will grind

to a minimum, if that

to a minimum, if that minimum's

too low to survive they'll go out of business. Restaurant and Catering Australia is predicting jobs will be lost

across the services sector over

the next year. We're

estimating a loss of 2,500 jobs

in a particular circumstance at

the moment. That flowsong to

8,000 across the board. Travel

agents are also feeling the

squeeze. The level of

inquiries has suddenly dropped and it's just like

and it's just like someone's

turned off a tap. Anthony

Kleverlaan has operated a

travel business through the

2001 terrorist attacks, the two

Bali bombings, SARS and bird

flu but he's sever seen a

downturn like this. We noticed

it started to happen probably

at the beginning of August and

it's down by 30 to 40%. The experience of small business

owners is highlighted by a new survey

survey that shows consumer

confidence is at its lowest

level for 17 years. Australians

are cutting back where they

can. On luxuries, on eating

out basically. Yes, wouldn't

be thinking of anything

luxuries, no holidays or

anything like that.

Absolutely, especially with a

small child, you've got to cut

back. We're moving to the

United Arab Emirates to get

away from the global crisis.

That seems to be the only part of the

of the world that's going

ahead. At least not everyone's

panicking.In Queensland, it's

not just those little luxuries

people are worried about, some

are having trouble meeting even

basic needs. Today in Brisbane,

more than 6,000 people lined up

for free groceries provided by

a church. Organisers say the

need has never been

need has never been greater.

The food handouts were due to

start at 8:30 but people began

arriving at the Logan church at

3:00 this morning. 10 minutes

later another one pulled up and

10 or 15 minutes later another

one and progressively until

what you see now. Before long,

a queue of thousands extended

down the street. We will not

run out of food. We have heaps

of food for you today. Just

of food for you today. Just

keep coming in. We come at

6:00 this morning for the

parcel. I took a day off work

to come here. The Judah Church

holds 'Free Food Fridays' every

three months. Once it was

mainly the homeless who needed

the support but now more and

more people are forced to stand

in line. With rent going up

and the cost of fuel and what

not, it's getting a bit harder every time. There

every time. There was 50 tons

of food to give away...

Beautiful garlic bread. Thank

you. ..some of it was donated

the rest was paid for by the

church members. What's what's

left over, they come in the

week. Some come from

Toowoomba. The church is

planning to cater for a bigger

crowd next time, saying more full bags mean more

full bags mean more full

stomachs. Now to the financial

turmoil causing all the concern

and the wild week on the

Australian share market has

finally come to an end. Today

it opened higher and closed

lower, finishing virtually

steady. Here's Bernard Kohl.

It's been like one of those

carnival rides where you get

tossed about until you feel

sick and then end up where you started. The All

started. The All Ordinaries

closed last Friday at 3,429 and

jumped 100 point this morning

by which time it seems to have

become tired and sagged on the

ropes to finish the week at

3,944, 0.1% higher than last

Friday. You would have been far

better off sailing the

Whitsundays for the week

instead of upsetting yourself

watching the ABC news every night. The All

night. The All Ordinaries ended

the day with a drop of 1.1%,

most of the falls centring

around resources led by Rio

Tinto which had another bad

day, losing more than $10 a

share this week. Worley Parsons

fell 11% today and NAB fell 5%,

although not all of the banks

were sold off. Bank of

Queensland went up 3.7%. Most

of today's selling by global

investors was in commodities. The hedge funds there

The hedge funds there are

running in all directions. On

the London Metals Exchange last

night there were massive falls.

Among base metals, nickel, lead

and ziping were down around

10%. Gold had a huge fall in

New York. The spot price in

Australia went up a bit. Like

wise with the oil price, down

more than 6% in New York last

night, up on the

night, up on the Tapis market this afternoon. Wall Street had

an absolutely wild session last

night. The Dow Jones opened

steady, fell 400 points and

then soared 800 points to

finish 400 points or nearly 5%

higher. Finally the Australian

Dollar continued to track the

share market today, rising two

cents from this time last

night. After being out of

fashion and out of favour for

30 years, grammar is making a comeback to

comeback to the classroom.

There will also be greater

emphasis on spelling, punctuation and Australian

literature. It's all part of a

major overhaul of the way

English is taught in the

nation's schools. Tens of

thousands of high school

students were sitting their

final English exam today. I

had no problems with it. I

studied quite a bit. Students

at this selective high school

in Sydney aren't the norm according

according to industry who say

some young workers just out of

school are barely literate.

The resumes are just so riddled

with misspellings. There is a

real case for increasingly

explicit teaching of what they

need to know. Don't assume they

know it or they'll get it

naturally. 9 months ago the

Federal Government called for a

single national curriculum in

core subjects and today a new

core subjects and today a new

English curriculum for 3.5

million students was

unveiled. this new curriculum

has made an unashamed

commitment to explicit teaching

and the teaching of grammar is

part of that. Many teachers are

expected to need help,

preparation and professional

development to cope with the

changes. But it will make sure that our students

that our students all - our

teachers and students are

provided with some standards of

excellence that they need to

achieve. There will also be

changes in the way kids are

taught to read, back to phonics

which was popular decades ago,

and Australian literature will

be reinstated as a core part of

English teaching. It's a

wonderful way for them to gain

an understanding of the

complexity and

complexity and diversity and

dynamism and changing nature of

Australian society. Today,

hundreds of educators were

getting their heads around the

implications of the change.

Trials of the new national

curriculum are due to start

towards the end of 2009. The

Labor Party is bracing for a

walloping in tomorrow's State by-elections. Nearly 200,000 people will go

people will go to the polls to

elect four new members of State

Parliament. Labor has as good

as given up on the Sydney seat

of Ryde and is expecting

massive swings against it in

two of its safest seats. Robert

Furolo is a Labor man in the

heart of Labor territory. He's

been handed the gift of the

party's most secure seat,

Lakemba. It's been Morris Iemma's fiefdom and

Iemma's fiefdom and Mr Furolo

is standing by the former

Premier and the ALP. I have

not nothing to be ashamed of

about being part of the Labor

Party. The Liberal contender is

still hoping for change.

People are beginning to realise

that supporting Labor is not

getting them anywhere. To win

in Lakemba the Liberals need a

massive swing of 34%. In Labor's

Labor's second safest seat,

Cabramatta, the candidates have

been stalking commuters. We've

got to goback back to local

people representing local

areas. The Liberals' Dai Le

feels confident of an historic

upset. I believe I'll cross

the line. She'll need a swing

of 29%. Liberal Party

confidence seems well placed in

the seat of Ryde where the

Opposition is poised to claim a

comfortable win even with the

comfortable win even with the

required swing of more than

10%. The Liberal leader has

been a frequent campaigner and

is keen to point out the

Premier's absence from the

hustings. Despite his claims

about taking the medicine out

of the by-elections, Mr Rees

has done a red hot runner to

Bathurst to avoid the

publicity. I can't be all over

the State at once and most

reasonable members of the public understand

public understand that. Labor's not contesting the fourth

bielection lection in Port

Macquarie. It's a race between

the Nationals and an

Independent, vacated by the now

Federal Independent Rob Oakeshott, it's the National

Party's chance to reclaim

traditional territory but it

will need to overcome a margin

of 13%. This round of polls is

a test for both parties and a

warm-up for the State election in two

in two years. Voters in the ACT

had head to the polls tomorrow

with the Labor Party tipped to

lose its grip on majority

Government. The Chief Minister

Jon Stanhope is trying to

secure a third term in office

but he's facing a voter

backlash for some controversial

Government decisions such as

school closures. Following a

national trend, recent polls are predicting the Greens

rather than the Liberals will

be the big winners from any

be the big winners from any

swing against Labor. A vote

for any party other than Labor

will almost certainly deliver a

Liberal Government and if

that's what people who vote

Green believe is appropriate,

that's the decision they'll

make. We know the real poll is

on 18 October and we've been

working hard to ensure our

message, our policies are

getting out to the voters. The

Greens are yet to say which

major party they'll support if

they hold the

they hold the balance of power.

One of Australia's leading

hospitals has confirmed it's

closing its specialised women's

unit and its children's ward is

under are view. Sydney's Royal

Prince Alfred Hospital de

denies it's a cost-cutting

measuring but doctors and

nurses say patients will

suffer. With the State

Government over Budget and

underfire, the Premier took a

trip to the country.

trip to the country. I love

this part of NSW. He went to

Bathurst to save a cancer care

service but Sydney's health

woes followed him. He hit out

at claims of cost cutting at

Royal Prince Alfred Hospital.

That's irresponsible The

hospital says improved recovery

rates mean it no longer needs a

dedicated women's surgical unit

but says there will be no beds

lost, the patients will be

cared for in other wards.

cared for in other wards. It's

reassuring women they won't be

in rooms with men. We are

providing the same level of

care and the same services with

the same staff. But doctors

and nurses is worrying about patients recovering from

complex operations such as

Master O'Reilly and his his.

They say they could lose

specialist care Clinicians are

angry, clinicians are very disappointed and they're

worried for the safety of women with complicated

with complicated

conditions. The efficiency of

the children's ward is also

under review. We understand

the hospital's been told to cut

$40 million. The hospital denies it's trying to cut

costs. It is about service, re configuration for a service

needs and about service delivery. It is not about

saving money. The women's ward

will close next month.Tonight's top story - business

top story - business leaders

have taken their concerns about

the economy direct to the Prime

Minister. Still to come, a sad

farewell in Croatia as Britt

Lapthorne's family prepares to

bring her body home.

A moving memorial service has

been held for a man believed to

have been taken by a crocodile

in far North Queensland. Hundreds of mourners

Hundreds of mourners crammed in

to the hall south of Brisbane

to say good-bye to 62-year-old

Arthur Booker. Mr Booker was

remembered as a loving family

man who also served his

community with dedication.

Members of his Vietnam regiment travelled from around Australia

to pay tribute to a great

mate. Lest we forget. Lest we

forget. Every 1 loved him. He

was one of the guys who got

was one of the guys who got on

with everybody. His humour was

infectious. He's one of the

people you really only meet two

or three in your life like

him. Mr Booker disappeared

more than two weeks ago when he went to check crab pots north

of Cooktown. The body of backpacker Britt Lapthorne has

begun the journey home to

Australia before flying out of

Dubrovnik late today, her

father Dale took another parting shot at authorities there

there for the way the case was

handled. His family is now

hoping to find some closure

back in Melbourne. A promise

made to a missing daughter is

being fulfilled, but not the

way Dale Lapthorne had hoped. A

month ago he left Australia to

join the hunt for his

21-year-old daughter Britt. Mr

Lapthorne vowed then not to

return home without her. Today, accompanied by her

accompanied by her brother

Darren, Dale Lapthorne started

the journey home. I need to be

home, Darren needs to be home,

Britt needs to be home. If I

have to come back to Dubrovnik

I'll come back. The trip will

take them to the Croatian

capital and then London before

landing in Melbourne on Sunday

night. We're expecting Britt

to walk through the door at any

time and the reality is it's not going to

not going to

we know when we get home it's

finality. Mr Lapthorne was

again critical of the

Australian Federal Police and

Croatian authorities. We went

to the Dubrovnik Bay area and

it's a TV station that's doing

the searching, not the police.

I mean, I have to rely on Nova

TV to do the suching. Before

they departed Dubrovnik,

they departed Dubrovnik, her

family and friends threw

hundreds of white petals into

the inlet where her body was

found. Britt Lapthorne's body

will be handed to the Victorian Coroner, perhaps answering one

of the questions the family

needs to know, how she died.

Her friends have organised a

candle light vigil in a

Melbourne Park tomorrow night,

exactly one month since she was

last seen.America's economy may

last seen.America's economy may

be causing grief but its

presidential campaign can still

raise a smile. The US media has

become obsess would a man

called Joe the plumber. He shot

to fame as a result of the

final presidential debate.

North America correspondent

Mark Simkin explains. The

country's newest political

celebrity woke up to find the

paparazzi camped on his lawn.

Joe Wurzelbacher is

Joe Wurzelbacher is the

archetypal 'average Joe'. He's

become anything but average.

Joe the plumber has gone to

sleep. And the media loves

it.5. Joe the plumber. The fuss

began on the weekend when the plumber confronted Barack

Obama. I'm getting ready to

buy a company that makes $250,000

$250,000 a year. Your new tax

plan's going to tax me

more. Republicans rejoiced and

John McCain made Joe the

plumber the theme of last

night's debate, to woo blue collar voters. Joe the

plumber Joe the plumber.

There were more than two dozen

mentions in all. People have

started selling Joe T-shirts

and flocking to the

and flocking to the plumber's

Facebook page. The real winner

last night was Joe the

plumber How many plumbers

make a quarter million dollars

a year? Joe doesn't earn that

much at the moment which means

he could pay lower taxes under

an Obama administration. With

celebrity comes scrutiny. It

turns out Joe Wurzelbacher owes

back taxes and he isn't a licensed

licensed plumber. He says he

doesn't remember which party he

belongs to but he's a

registered Republican. People

say I'm a plant. He's held

more press conferences than

Sarah Palin. They came back

from Beijing with their best

medal haul in 100 ears years

and now Britain's athletes have

been given a celebration to

been given a celebration to

mark their achievements. While

there was no rain on their

parade, the world's financial

woevise left a dark cloud over

London's hosting of the Games

in 2012. Why are markets still

so volatile after a coordinated

approach to the global

financial crisis? Markets are

reflecting what's happening in

every part of the world and

there will be uncertainty until

we finalise many of the decisions

decisions made inner others

countries as well as ours.

They also reflect marked

slow-downs in just about every

part of every economy. Exports

from the far east and else

where are going to decline, commodity prices have been

falling rapidly. There's no

doubt that a global recession

is coming. So what do you do

when the news is all bad? Have

a party to celebrate

a party to celebrate past successes. The British Olympic

team were treated to a London

parade of heroes, the team that

beat Australia gave everyone

something to smile about.

Everyone's so happy. Real

positivity for a change, which

is just incredible. Really,

really good. There's a lot of gloom about at the moment and I

think this gives everybody a

little lift. But for all the

flag waving, it's the flagging

economy that dominates now even the next

the next Olympics. For all the

celebration, there's also

anxiety about London 2012. In

the current economic climate,

will they have the resources to

deliver the Games they want?

Already there's talk of

changing some venues to save

money and it's likely the

Government will have to kick in

billions of extra dollars.

There will be more than a few

crossed fingers in the lead-up to

to 2012. India's batsmen have

dominated the early stages of the second Test against

Australia in Mohali after

stand-in captain MS Dhoni won

the Test in the absence of the

injured Anil Kumble.

Australia's back-up opener,

Phil Jaques, is the latest tour

casualty, succumbing to a back

injury. The Indian batsmen made

quick runs as Australia's pace

quick runs as Australia's pace

bowlers including Test

debutante Peter Siddle,

struggled to make an impact.

It's a bitter sweet time for

Australia, Phil Jaques heading

home as injuries present opportunities. Peter Siddle

earning a first baggy green.

Disappointing for Stuart that

he misses out. I'm pleased I

get my opportunity to play for

Australia and get to wear the

baggy green. The 23-year-old Victorian's maiden Test delivery suggested the Indian top

top order would be doing plenty

of ducking and weaving. Then

the batsman shone. Verender

Sehwag and Gautam Gambhir did

most of their scoring with well

timed boundaries. The pace battery struggled for line and

length. Ponting did some

switching. On 35, wag wag

fallodes Mitchell Johnson down

the leg side but doff doff settled in and

settled in and Gambhir enjoying

a serving of Michael Clarke

before lunch to reach a

half-century. India moved to

the stylish post-lunch. Gautam

Gambhir continued his measured

assault. It was sweet muse

frequent the injured captain

but the excitement meter peaked

when the second wicket fell that brought Sachin Tendulkar

to the crease on the cusp of an historic

historic achievement. Needing

15 to assume the mantle of

world's leading run scorer. Can

history repeat in the Caulfield

Cup? The trainer of last

year's quinella, Danny O'Brien,

is mixing reality... It's

harder to come back the next

year in any sport and do it

again. ..with confidence.

Master O'Reilly which finished

strongly in the Turnbull Stakes

strongly in the Turnbull Stakes

can lower the colours of

Weekend Hussler and Littorio.

Littorio was very good.

Hopefully we've got a bit more improvement than him to come

out of the Turnbull and we meet

him bet art the weights too.

It's Master O'Reilly by two months. Second last year, Douro

Valley is a last start winner.

He's in career-best form. I'd

expect him to be right in the

finish. Just nibbling at the

finish. Just nibbling at the

prospects of the trifecta,

stable hopes are rounded out by

Barbaricus. The cycling world

is reeling just a short time

after a tearful admission of

drug taking from Austrian Bernard Kohl, the third place-getter in the Tour De

France. Kohl's was the fOurlth

drug positive from this year's

event. Two German networks have abandoned the Tour De

abandoned the Tour De France

coverage next year and the 2009

tour oaf Germany has been

cancelled. Officials have

called the decision premature,

saying it would sadly encourage

those fighting doping to ease

up in order to guarantee a

broadcast. We've all done it,

making paper planes has been

part of the unofficial

curriculum for students of all

ages but for some it's serious business. University students from all

from all over Australia are

being competing in a national

paper plane contest. The

winners will go on to compete

for the world title in Austria.

How could you guess the

academic year is winding down?

What kind of student would

devote himself to paper planes?

I hate to admit it but I am a

nerd. At least Adam Falconer

is doing aerospace engineering

in Melbourne. In terms

in Melbourne. In terms of

analysis I probably have an

edge of people. Inspired, he

could be going for distance,

time in the air or aerobatics.

30 of Australia's best and

brightest students were hard at

it, making paper planes that

is. And those involved in

aerospace were thin on the

ground. I'm doing commerce and

economics. It's horses for

courses. I'm making it up as I

courses. I'm making it up as I

go. With just one sheet of A4

paper they folded, they flew,

they giggled, they gloated, all

to go to the world titles in

Austria. What is it about paper

planes? They sing about them,

they sculpt them. Sculpture by

the Sea had hardly opened this

week when this work was snapped

up for $45,000. Still, it will

look nice in someone's garden.

When the sponsored competitors

arrived today, it was hard not

to think of corporate excess

and where it's got the world.

There were throwers, there were

tossers, winners and losers too

and some not so soft landings

but it was no political target.

Today's students have lost

their touch. Whether the present Prime Minister knew

about today's events or not, he stayed well

stayed well out of range, not

that it would have mattered. As

they used to say, he'd have

been as safe as houses. Most

here couldn't hit a hangar wall

at 20 paces but at least

they've learned about gravity.

The weather now and with a warm

weekend, there's a timely

reminder on UV levels? Yes,

they're up and staying that way

for the rest of summer. A quick

reminder that on a sunny

reminder that on a sunny day,

all districts will experience

very high to extreme UV

radiation so you need to make

sure you protect your skin.

The band of cloud in WA

will reach NSW during Sunday.

Ahead of that, the high will

bring warm and dry northerly

wind to the State and because

this area's so dry when the

trough arrive thrz won't be

enough moisture to produce any

inland precipitation so dry for

tomorrow and Sunday but

tomorrow and Sunday but higher

moisture levels should see

showers and storms east of the

ranges later on Monday.

Thanks, Graham. That's ABC

News for now. Stateline is next

and for the latest headlines 24

hours a day, go to ABC online. Goodnight. Closed Captions by CSI

CC This week, Roozendaal's

reality check. $100 million

reality check. $100 million is

the equivalent of 220 buses ,

1,000 additional teachers. And

we check out the State's

biggest art show. The tree

suspended in mid air. It's got

a poetic presence. And an

election checklist will

tomorrow be Independence Day at

Port Macquarie. Welcome to Stateline.

Stateline. I'm Quentin

Dempster. It's called super

Saturday. Four State

by-elections in Ryde, Lakemba,

Cabramatta and Port Macquarie

tomorrow will get a chance to

have a say through the election