The recent closure of QLD Nickel has revealed that some 787 workers are owed $74 MILLION in entitlements. That's about $94,000 on average just for holding a job.

Considering terms of employment would differ greatly, means some would be owed far more than this, and of cause many less.

There is also suggestion that employers should hold a secure bank account just for the entitlement monies. As if employers don't have enough to do already.

At what point are employees going to be held responsible for their own destiny because surely a better system would be to pay the entitlements each week and leave them to hold their own accounts.

And people wonder why so many jobs are now casual or contracted out. Is it little wonder!

According to this story it gets worse, gues who might end up paying.

Queensland Nickel liquidation could see taxpayers fund payouts, Employment Minister says

Taxpayers may have to fund more than $70 million in payouts for Queensland Nickel (QNI) workers if the company goes into liquidation.
Key points:

Taxpayer-funded scheme would be a last resort
Outstanding entitlements are about $73 million
Clive Palmer "morally obliged" to pay workers' entitlements, Michaelia Cash says

Administrators FTI Consulting recommended winding up the Townsville-based operation, with creditors due to vote on the decision later this month.

Sacked workers are owed in excess of $73 million from the company, which FTI Consulting said had suffered under the "reckless" actions of Clive Palmer and his nephew and former QNI director Clive Mensink.

Employment Minister Michaelia Cash said the Government was still going through the report on the company, which needs to go into liquidation before any funds can be released under the Fair Entitlement Guarantee scheme.

Senator Cash told the ABC the taxpayer-funded scheme, described as a "last resort", could see more than $70 million being released.

"If the Government does exercise its discretion and release the funds, currently the outstanding entitlements are estimated to be approximately $73 million," she said.

"$73 million of taxpayers' money will be potentially released."

REST OF STORY AT.
http://www.abc.net.au/news/2016-04-13/clive-palmer-queensland-nickel-taxpayers-will-fund-payouts/7321998

As my wife says: 'Things are only going to get worse.'

What are the chances of fat old Clive getting re-elected in the seat of Fairfax? A snow flakes chance in hell. Where are all those forum folks, who only a couple of years ago were on here spruiking the virtues of Clive and his wonderful little PUP.

Queensland Nickel donated millions to Palmer's party.

http://www.abc.net.au/news/2016-01-17/clive-palmer-defends-political-donations-by-qld-nickel-to-pup/7093634

rehctub,

"There is also suggestion that employers should hold a secure bank account just for the entitlement monies. As if employers don't have enough to do already.

At what point are employees going to be held responsible for their own destiny because surely a better system would be to pay the entitlements each week and leave them to hold their own accounts."

Clive funnelled what should gave been that businesses buffer finance to all his personal projects and when the nickel price plunged, the business folded because it has no buffer.

"Clive Palmer pillaged his personal piggy bank"

"The mammoth heist that Clive Palmer has allegedly undertaken is breathtaking. The corporate autopsy report released on Tuesday showed in graphic details the administrator's account of how Palmer used money from the Queensland Nickel joint venture to fund his cash-thirsty ambitions in property, tourism and politics

More than $224 million in cash moved via loans out of Queensland Nickel to related parties of Palmer via loans but only $22 million appears to have been repaid. Most of the remainder Queensland Nickel simply forgave"

"In the view of the administrator tasked with the forensic investigation of how and why Queensland Nickel has failed and should be wound up, the blame sits squarely on the shoulders of its de facto (shadow) director Clive Palmer and his fellow director and nephew Clive Mensink.

In the report, FT Consulting's John Park describes Queensland Nickel as the piggy bank in the Palmer empire – one that was regularly raided."

http://www.smh.com.au/business/mining-and-resources/clive-palmer-pillaged-his-personal-piggy-bank-20160412-go4ly5.html

Read article for details of where the money went.

Hi Poirot,

If this had involved workers, or worse still unions, pillaging the company, then the forums 'Usual Suspects' would be all over it, like ants at a picnic. Now if it involved the dreaded feminists or Greens then you know who would be ranting from the roof tops.

Come on boys where are you on this? Hasbeen the wise one, does your daughter intend to vote PUP again next election? Please fill us in.

So the point is that had we had a system in place where entitlements are paid, then managed by employees, the problem would not exist.

As for what Clive does with his money, the key words are HIS MONEY.

Sorry ,but we must get away from this hand holding mentality where the employer does everything and the employee sits back.

Governments have no business paying 'entitlements' to people who have lost private enterprise jobs. Private enterprise is the responsibility of employers, not governments throwing public, taxpayer money around. What, they pay these so called entitlements to people for losing their jobs, then the dole on top of that when they can't find another one?

Yes TTTB they may well have opened a can of worms with this one.

While I sympathise with those who have lost their jobs, I struggle to understand how just being employed can lead to such huge amounts of entitlements.

It just highlights the implications involved in being an employer these days.

Just cast your minds back to the time when that great Aussie "socialists" your hero, but not mine, Little Johnny Howard used taxpayer money to pay out workers entitlements at National Textiles to protect his dodgy brother Stan the Man!

Is Big Clive related to Malcolm Turnball? Seems when it comes to these kinds of things in the Liberal Party, it certainly helps.

Paul,

While you are renowned for cheap and baseless shots, I still surprised by the idiocy of some of them.

With the gradual removal of tariffs there were some industries (i.e. textiles) that lost their viability, and to protect the workers in those industries that failed as a result the coalition introduced a scheme to protect workers entitlements.

When National textiles failed, not even that buffoon Beazley claimed that Stan Howard acted improperly or gained in any way from the bailout, but here we have the local clown doing just that.

What next from the green goblin? The moon landing was staged?, The holocaust never happened?