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ABC News (Sydney) -

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Live.

Tonight calling a spade a

spade, some expert advice for

the Prime Minister It's

looking like the slowdown is

coming out faster than expected Profits before

people. The ANZ under fire

over job cuts The regime in

charge of ANZ at the moment

is on a slash-and-burn

approach. Fuel for thought.

The ethanol-powered car of

the future. No longer on the

loose. 'The Juice' goes to

jail I'm sorry, I'm sorry

evening. Felicity Davey with for all ever it. Good

ABC News - It was

unsolicited advice but senior

Australian economists Kevin

high-profile financial Rudd to take it A group of

let the other the Prime experts has written an open

Minister warning him the global crisis is coming at

Australia much faster than

expected. They say it will

take radical action if the

Federal Government to avoid

disaster and to ensure

Australia meets its long-term

goals. From Monday nearly $10

billion will start to flow to

pensioners, families and

initial step of the Federal first home buyers as the

Government's economic

security strategy. We will

take every action we deem to

be necessary to continue to

support growth and jobs. But

8 of Australia's leading economists are already

calling for a second stimulus

package. They want businesses

to be allowed the cut compulsory super

contributions from 9% to 6%

next year then pass on the

savings to employees through

higher take-home wages It

would put more money in people's pockets which they

would spend and that would

generate jobs. Today Kevin

Rudd and a chorus of others

dismissed the idea Well, the

Australian Super laws have

been long-established That

would be a very short-term

response. Australia will come

through this economic

downturn and when it does

people will need savings

Very short sited to rip the

heart out of the super I

have. But economists stay

one-off cut this year would

be followed by increases each

year after that lifting

contributions up to 12% by

2015 and they are surprised

by the negative response It

is short-sighted because it

adds the possibility of

immediate filup, it costs nothing. On another front the

group supports Australia

running large budget deficits

with the borrowings used for

public investment We a nice

looking balance sheet with no

debt but inadequate

infrastructure We are saying

you can borrow up to 10% of

GDP which is about $100

million. And they recollect

the Government borrows with

safeguard to ensure they are

cost effective. The

economists say the need for

economic stimulus presents a

good opportunity for managing climate change it. They

suggest the Government offer

generous short-term

incentives for themselves and

businesses to spend money on

improving long-term

Minister is yet to make a efficiency. The Prime

formal response to the

letter. Kevin Rudd may have rejected some of the recommendations from the

economists but he has already

fast tracked infrastructure

money for the states. After

the coalition's ugly split in

the Senate on Thursday night,

the Prime Minister is

accusing the Liberals and

Nationals of jeopardiseing

vital spending aimed at

keeping the economy out of

recession. After conceding

the budget may need to go

into deficit to steer clear

of a recession Kevin Rudd

says spending on new roads is

the best way around the

financial crisis The

Government is committed to

Nation-building is about nation-building.

infrastructure. In Victoria

today the announce he was

bringing forward $900 million for a new freeway the Prime

Minister was on the front

foot There we go! The boot

was going straight into the

Opposition. At this time the

Liberal Party, federally, are

divided right down the middle

on nation-building and they

cannot even agree on who

should build a sand castle or

who should have the bucket

and who should have the

spade. It is a reference to

the coalition's division over Labor's infrastructure

spending bill which passed

through the Senate late on

Thursday night. Two Liberal

Senators crossed the floor

side wing the Nationals against Malcolm Turnbull

after the Liberal leader

decided the Opposition would

support the bill. But Kevin

Rudd denies he is playing

wedge politics. It is not a

question of making a

political comment, it is a

basic fact of the numbers in

the Senate That is ridiculous t Prime Minister

playing politic was a very

important issue. The

Opposition says in its rush

to spend the Government is

not watching where its money

is going. Within the

coalition there is unanimous

infrastructure spending and support for strong

all of us are concerned to

make sure that the Government

does not support dodgy projects, that it does not

use this as a slush fund to

bailout failed Labor

states. The Premiers need not be worried yet. The Prime Minister has already promised

there is more nation-building

money on the way. The ANZ

has announced more job cuts,

800 middle managers will be

shown the door by Christmas.

The bank blames hard economic

times but the union says the

ANZ is using the credit

crunch as an excuse to cut

costs and services. Whatever

the reason, market analysts

have warned more jobs will go

in the new year. For

hundreds of ANZ employees

paying the mortgage just

became that much harder.

There is no doubt that the

regime in charge of ANZ at

the moment is on a

slash-and-burn approach. In a

statement the staff CEO Mike

Smith has confirmed 800 jobs

will go this year and he has

pinned it on the global

financial turmoil I believe

it will take at least another

2 years for the world to work

through the current financial

situation and its economic

impact. That is rank

opportunism according to the

union The ANZ in making

these decision are doing it

underneath the cover of the

financial crisis. It is

Prime Minister who supported difficult politics for the

the bank was his $1 million

deposit guarantee It would -

we would encourage the bank

the continue to provide

maximum employment. That is

the right thing The Government sudden show

leadership ensuring our banks

put the well fair of staff as a priority. But the market expects further job loses as

ANZ tries to recover if a

series of expensive blunders,

with the oh pus prime for

example, with the American

debt obligation business, all

these things you have seen

ANZ in the gun there. ANZ is

not the only bank laying off

staff. There are fears up to

10,000 jobs could be lost

across the finance sector.

The overall jobless rate is

expected to be higher when

the bureau of statistics

releases unemployment figures

on Thursday. In the US the

job market is already in the

doldrums and getting worse by

the day. More than half a

million jobs were lost last

month, that is the biggest

fall in more than 30 years.

While the US economy is

shrinking business is booming

at the job centres t newly

restenched do not expect

things to get better

soompbilities it will take me

pretty close to 6 months to a

year to get something. There

are so many people being laid

off as we speak right

now. 533,000 jobs were lost

in November. The head of the

agency which compiles the

statistics paint add gloomy

picture for Congress This is

maybe one of the worst jobs

report the bureau has ever

produced, ever. The dismal

job outlook is adding to

fears the economic downturn

will be a long one Today's

job data reflects the fact

that our economy is in recession. Wall Street fell

sharply in early trading but

market recovered at the end

of the day and closed 3% up.

Some analysts suggest the

worst is over but not all.

The trend is still down and

oil markets are weak, any

rally in this market you

still want the sell. The job

figures fueled the debate

over whether American car

makers deserve a massive

injection of public money the

stay afloat. Up to 3 million

more jobs could go whether

the auto industry collapses

To allow bankruptcy and

failure in 1, 2, 3 of these companies in the middle of

the worst credit crisis and

unemployment sings 70 years

would be a disaster. During

the congestion hearing on the pale out protestors circled

the building in hybrid cars

opposing a hand out for the

industry which created the

gas guzzler. The de Street

Giant are promising to change

their ways but it is still

not clear if they can avoid

bankruptcy even with tens of

billions of taxpayer dollars.

Oil prices may be falling

but it has not stalled

efforts to promote more

sustainable and greener forms

of fuel. In NSW the

Government's decided that

ethanol blend must be veil at

all of the state's petrol

station by 2010 but farmers

are not happy saying the plan

puts fuel ahead of fuel.

Global energy prices are fluctuating and governments are looking for alternative

energy sources. Today the NSW Government took a significant step We will lead Australia

and we will create a lot of

jobs out of it. It until has

been touted as a solution to

a number of problems. By 2011

it will make-up 10% of all

regular fuel sold at service stations It is important for

the environment and the

public as well. 3 cents a

litre off fuel is important. But the service

station industry says there

is no garage toe that petrol

costs will go down and

farmers groups are worried

about other side effects The

NSW Government unfortunately

is blindly pursuing this

mandate of grain-driven

ethanol production which is

the wrong move. Ethanol is

made from whole grains and

the Government maintains that

in Australia it is made from

entirely otherwise useless

waste products but farmers say perfectly good whole

grain that could be fed the

animals or humans being used

instead which could make all

food more expensive Given Australia's variable grain

production the impact will be

the greatest when we have dry

years which is our major

concern. Their concern is

shared globally by the World

Bank and humanitarian

charities. The plan has

received measured support from environmental groups but

they too want to ensure that

only waste products are

used. We really have to be

careful about the sourceing,

the chain of custody and look

to the Government and the

producers to be transparent

about the environmental

footprint. All side of the de

bit agree that second-generation biofuels

made from algae and timber

by-products will to be fuflt

future but while these option

are being researched they remain distant possibilities. At least 1 car-maker is not waiting for

a resolution to the ethanol

fuel debate. Holden is

pressing ahead with

production of a new engine

which runs not on a 10% blend

but on 85% ethanol petrol. It

is scheduled for release on

the Australian market in 2

years. The move comes as the

company tries to secure the

future of is South Australian plant in the face of slumping

sales and a slowing economy.

Sales of big Australian cars

have slum subpoenaed since

fuel prices spiekd earlier

this year. That has left car

makers scrambling for way the

safeguard their future and

Holden thinks it has found

one, biofuel. It has

committed to producing

Annette nol-compatible motor

for the Australian market

within 2 years An entirely

locally produced range

normally run on petrol will

run on 85% ethanol. It is not

unchartered territory for the

Adelaide plant. Since 1998 it

has exported cars that use

20% ethanol fuel to Brazil

but the engines need to be

modified to cope with the

higher ethanol content That is straightforward. The

Brazilian are doing it, it is

no big deal. Holden's push to

produce the E85 Commodore,

unlike traditional production

one method uses waste product

such as food scraps, landfill

and old tyres, it needs less

energy and weather and is

cheaper the make Producing

it at 25 cents a leader which

is competitive with petrol. Holden is talking

with Costarta about building

Annette nol plant in

Australia. The new cars will

run on petrol but Holden is

negotiating with retailers to

supply E85. It says the

success of it and other alternative energies will

ultimately be decided by

market forces. Economists

have written an open let the other the Prime Minister

urging changes to super to

boast spend sing still to come, Mathew Goggin take as one-shot lead in the

Australian PGA. Simple Sims

going to jail for at least

nine years. The judge

dismissed the sports star's

emotional plea for leniency

calling him ah began and

lenient, 'The Juice' as he is

known was convicted of

robbing two sports

memorabilia collectors at

gunpoint in a case unrelated

the the murder trial of 15

years ago. OJ Simpson wore

chains a prison uniform and a

smile. It did not take long

for the grin the fade.

Earlier thin case I said to

Mr Simpson I did foot know if

he was arrogant or ignorant

or both. During the trial and

through this proceeding I got

the answer. It was both. Last year OJ Simpson and five

friend burst into a casino

hotel room, confronted two

sports memorabilia collectors

and robbed them at gunpoint

The jury convicted the former football and movie

star of kidnap and armed robbery. As the judge

prepared to deliver the

sentence OJ Simpson made a

rambling plea for leniency I did not mean to steal

anything from anybody and I

did not know I was doing

anything illegal, I thought I

was confronting friend and

retrieveing my property. So I'm sorry, I'm sorry for all

of it. It was much more than stupidity. The judge

sentenced OJ Simpson to a

maximum of 33 years in jail,

although he could get out on

parole after nine years.

The evidence in this case was overwhelming. The judge said the sentence had nothing to

do with the earlier OJ

Simpson trial. In 1995 a jury

acquitted the footballer of

murdering his ex-wife and her friend Ron Goldman. Ron

Goldman's family travelled to

Las Vegas for today's

hearing What we have is

satisfaction that this

monster is where he belongs,

behind bars. OJ Simpson's

lawyer says his client is

relieved he did not get a

life sentence. He will still

appeal though, guaranteeing

another episode in this

long-running legal drama. He

is known as a champion of

peace but the South African

Archbishop Desmond Tutu says

it is time to use force against Zimbabwe's President Mugabe. Archbishop Desmond Tutu says if Robert Mugabe

does not step aside he should

be deposed and charged in the

International Criminal

Court. If he does not step

down and he refuses they must

do so militarily. Oppression,

poverty and disease have

become rampant in Zimbabwe under Robert Mugabe's rule.

The country has appealed for

help to deal with a cholera

outbreak which has killed

hundreds of people. More than

20 people have been killed by

a car bomb in the Pakistan

city of Peshawar. Many of the

dead were in a crowded

marketplace. The blast also

destroyed the front of nearby buildings and started several

fires. Earlier another car

bomb killed 6 people in another part of the

city. Armed robbers have

stolen more than 160 million

dollars worth of jewel from a luxury store in the heart of

Paris. Four men, at least two

dressed as women cleaned out

the store while holding staff

and customers at gunpoint. Police say the thieves were

well prepared and even knew

the names of staff members

and where stock was stored. Russia's grieving

over the death of the head of

the country's Orthodox

Church. Patriarch Alexy II

led the church for two

decades guiding it and in

some respects the country

through a time of great up

heaval. To millions of

worshippers in Russia

Patriarch Alexy II was more

than religious leader. He is

the soul, the soul of the

Russian Orthodox Church. The

79-year-old died at his home

near Moscow on Friday morning

shocking a nation including

Dmitry Medvedev who was on an

official visit to India. He

was not only an outstanding religious and true spiritual

leader of our country he was

also a great citizen of our nation. Patriarch Alexy II

had been the head of the

Russian Orthodox Church since

1990 leading an institution

that had been repressed

through the Soviet era and

helping it regain a prominent

position in the life of the

country and its people. He

did so much for Russia and

the Russian church. Religious

and political power have

green closer in the new

Russia. Among the first to

pay tribute to Patriarch

Alexy II was former

president, now Prime Minister

Vladimir Putin. It is a very

tragic and sorrowful

occasion. Patriarch Alexy II

was a true patriach. Earlier this week Patriarch Alexy II

offered encouragement to

Russians ahead of the Orthodox Church's Christmas

fast. Now Russia is mourning

and preparing for a memorial

service in the Moscow

cathedral he helped have

rebuilt. My initial feeling

was as if my father had died.

It is a great loss for everybody. It could take up

to 6 months for a new

patriach to be elected but

this weekend in churches

large and small right across

Russia special services are

being held to remember the

life and work of Patriarch Alexy II.

The cream has risen to the

top during the third round of

the Australian PGA

championship at Coolum on the

Sunshine Coast. Tasmanian

Mathew Goggin leads Geoff

Ogilvy and Masters champion

Rod Pampling by one shot. The

Victorian Jarrod Lyle is a

further shot back. Saturday

is moving day and Australia's

best made the most of the hot

conditions. He is all over

the flag stick. Jarrod Lyle

shot a course record 63

yesterday. Early signs were

mixed on day three, there

would be no repeat of his

8-under round. Playing

partner Mathew Goggin bogied

the first but recovered well

on the fifth the stay in

touch. Masters winner Rod Pampling started strongly

with birdies on three of his

first five holes. Wouldn't be changing anything for good

reason! Australia's No.1

player Geoff Ogilvy also

moved early Look out, Geoff

Ogilvy moving up the

leaderboard. The experienced

O'Malley also joinside a

congested leaderboard after

shooting a 5-under 67 What a

shot from Peter O'Malley. Jarrod Lyle was

starting to feel the pressure

with the country's best

breathing down his neck. Rod

Pampling continue his hot run

of form and Geoff Ogilvy

threatened to ignite on the

back 9 at Coolum but like so

many on the field he

struggled on the greens,

instead his pitching wedge

did the business Picking up

speed. Will it go in the

hole? It does! I'm hitting

the ball well. If I missed a

few puts I'm still going

well. Jarrod Lyle bogied the

18th the finish on 10 under.

Mathew Goggin came home like

a great train with birdies on

17 and 18 shooting him into

the lead. He gets it! The

Tasmanian will take a

one-shot advantage into

tomorrow's final day. The Wallabies have return from

their end of season tour in a

positive mood after four wins from six games. Captain Stirling Mortlock says there

is plenty of improvement left

and he is excited about the

future of the team. While he

is not quite a household name at Sydney Airport New

Zealander Robbie Deans has

made an impact in his first

year in charge of the

Wallabies and great start and

excited about next year. The

end of season tour featured

wins over England, Italy and

France while there were

losses to New Zealand and

Wales. Stirling Mortlock was

enthused by the promise shown

by rockies James O'Connor and Quade Cooper in the victory

over the star-studded

Barbarians this week Many of

the young boys went out there

and did the Wallaby jersey a tremendous amount of

credit. It was not all good

news out of that game. Sekope

Kefu suffered a torn muscle

and fellow prop Matt Dunning

snapped his Achilles tendon

They say 6 to 9 months but

I'm a fast healer. Stirling

Mortlock believes the

Wallabies will be well placed

to challenge the All Blacks

in 2009 after 12 new players

were given a tastes of Test rugby The depth has increased dramatically and

the guys made a great

contribution. Those players

will have a chance to impress

the Wallabies hierarchy when

the Super 14 season starts in

February. A Potent strike

from Van Dyk has helped

Queensland take a 1-nil lead

at half-time in the A-League

clash against the Central

Coast at goss for. The

Mariners got in behind the

visitors defence early and almost posed the opening goal

of the match but in the 11th

minute the home side was left

stunned by Van Dyk's

long-range goal. What a

strike from Van Dyk! Striker

P etrovsky failed to make the

most of good lead-up work and

while the Mariners continued

to create opportunities they

could not find their radar in

front of the goal. Ford's

Jamie Whincup has won his first V8 Supercars

Championship in emphatic

fashion after taking out race

1 of the final round of the

series at Oran Park. Jamie

Whincup needed a top-6 finish

in any of the weekend's three

races to claim the title with

Mark Winterbottom his only

rival for the championship.

Garth Tander whether started

from pole received a

10-second penalty for a jump

start and Mark Winterbottom's

challenge ended after a pit

lane clash with scafr Mark

Skaife. So it was left to

Jamie Whincup to take command

of the race. The 25-year-old

was rarely troubled as he

easily beat team-mate Craig

Lowdnes and Holden's Russell

in gel Everybody was say

thing would happen but we

kept our focus and the car

was a rock yet again. No.1,

replacing feel. Races 2 and 3

will be held tomorrow. When

you think of great swimming

nations Papua New Guinea may not immediately spring to

mind but that may be about to

change. The country's top

young swimmers have been

wowing the spectators at the

Pacific School Games in

Canberra. When it comes to

national heros Ryan Pini is

it in Papua New Guinea. The

27-year-old is the country's

most successful athlete. He

has competed in the past two

Olympics and won gold at the 2006 Commonwealth Games and

for the first time he has

traded the swimming cap for

the coach's clip board. I

became involved about a month

ago where our - the head

coach was unable to come so

say put my hand up and

offered to come down and help

the team out. Ryan Pini competed in the Parveris pafr

in 1996 and his charges have

eagerly taken his advice To

not worry about other people

and just swim your own best

and try hard. Worry about

your race and focus on what

you are doing Before my race

I get near advice. He always

tells me what to do and calms

me down ready for the race.

26 out of the 27 team members

are based at the Barocco swimming club where they

train in a six-lane 25 metre

pool I is a bit hard but we

do what we can and we have

had some swimmers do some

really good times there. With

an Olympian at the helm the

kids now have bigger dreams

It makes you think if he can

do it could I! With the

Games now over they will turn

their attention to London

2012. The 50 Australian film

industry awards are under way

in Melbourne. Local stars of

the screen have walked the

red carpet at the Princess

theatre in the city. The

nominees for Best Film are

Unfinished Key, the Black

Balloon, the Jammed and the

Square. Last night 700 people

attended the craft award

which recognise the talent of

those who work behind-the-scenes on

Australian films. Peter James

was honour would the AFI

award for excellence in film

making. Two the wheat ire now

on Sydney's warmest December

day in three years. In Sydney

it reach 35, 10 above average.

In the capital cities -

Melbourne was the only wet

capital. Sydney and Darwin

shared the top of 35. The

satellite picture shows cloud

over the north-east of NSW

and southern Queensland, that

is to the east of the trough

which is causing showers and

potentially severe storms.

Onto the synoptic chart a

trough is triggering

widespread rain and thunder

across the interior as a cool

southerly change pushes up

the NSW coast. Onto tomorrow's rainfall

prediction then - falls are

forecast across Northern

Australia for inland Western Australia and for the

south-east corner. In the capital cities tomorrow - it

should be mostly fine in

Perth and Canberra with

showers forecast elsewhere,

showers and storms predicted

again in Darwin. Around NSW

for tomorrow - in the

north-east - showers and

thunderstorms with occasional sunny breaks. To the south-east, isolated showers

tomorrow, a much cooler day

on the way and inland,

showers for Burke and Cobar

and mostly fine in the other

centres. In Sydney tomorrow,

a shower or two and mostly

cloudy with a top 24 degrees

in the city. The sun is up at

23 minutes to 6.

A recap of our top story -

an open letter to the Prime

Minister from a group of

leading economists has urged

radical Government action the

avoid the worst of the global

downturn. The ANZ bank has

blamed poor economic

conditions for a decision to

axe 80 0 jobs but unions said

is just an excuse to cut

costs. The disgraced former

football star OJ Simpson has

been sentenced to serve 15

years jail for armed robbery

and kidnap. That is ABC

television news for now. We

will have updates at 8.30 and

after 10. Grant Baker has

dominated competition in the

monster swell at Half Moon

Bay in Northern California

while the American CJ Hobgood has taken the World Cup final

in Hawaii. Goodnight. Closed captions by CSI