Thursday, 28 January 2010 :

Full Steam Ahead

With a successful close to 2009, the Toowoomba Chamber of Commerce & Industry is looking ahead to the beginning of a new decade of prosperity in the region. The new year holds many new expectations and opportunities for the business sector and our first business breakfast was a huge success with almost 220 guests in attendance. 

At the Chamber’s first Business Breakfast ‘Full Steam Ahead’ Mr Spiros Papadopoulos discussed how markets have responded to the challenges of 2009 and trends to watch out for in the coming year.

The event was held at Picnic Point Function Centre on Thursday 28th January, and provided an opportunity for members and guests to hear from the popular Senior Economist at nabCapital, Melbourne and gain a fresh direction for their businesses for another successful year ahead.

Friday, 23 April 2010 :

Regional Business Leaders Forum - Economic Conditions with Glenn Stevens

First Official Hug for the “Guv’nor” Attracts Media Interest
In an historic moment, President of the Toowoomba Chamber of Commerce, Geoff McDonald, gave the first ever official hug to the Governor of the Reserve Bank of Australia (RBA), Glenn Stevens at the Regional Business Leaders Forum on Friday 23 April. “The hug” received coverage in evening news bulletins across Queensland.
Geoff told the audience of more than 400 that it was a “gift of friendship” from Toowoomba.
“The business and financial community often talk about ‘hugging the panda’ [doing business with China], ‘tree huggers’ and ‘hugs-of-war’,” he said. “But the physical act of hugging, which is such a down-to-earth gesture, is rarely seen at all. That’s why it is newsworthy. ”
Head of the Faculty of Business at the University of Southern Queensland, Professor Allan Layton, was instrumental in securing Governor Stevens for the event.
In his introduction, Professor Layton drew similarities between Stevens’ role as Governor of the RBA and his skill as a recreational pilot. In particular, he noted Stevens’ “command instrument rating” for flying at night and in poor weather – useful skills for helping to manage the country’s economy in poor conditions.
The Governor’s biography notes he is Chairman of the Reserve Bank Board, he is also Chairman of the Payments System Board, Council of Financial Regulators and Financial Markets Foundation for Children. In addition, he serves as Director of The Anika Foundation. He worked as the Assistant Governor of the RBA from 1996 until 2001 and then Deputy Governor from 2001 until 2006 when he was offered the top job.
In his address to the Toowoomba audience, Governor Stevens said he would provide an update on economic conditions and prospects from a national perspective set in an international context.
He said he was mindful that in the following week (beginning 26 April) the RBA would receive some important data on prices.
“We, and everyone else, will have an opportunity to update our thinking on the current and likely future course of inflation. So my remarks today will be subject to that caveat. The Bank will publish a detailed overall analysis of the economy early next month,” he said.
Governor Stevens remarks were divided into the following topics: Australia and the ‘Great Recession’, Managing the Upswing and The Global Economy.
He reassured the audience that for the time being, at least, the global economy was growing again.
“Forecasters expect an outcome something like trend global growth in 2010 and 2011, which is much better than 2009 but not as strong as 2006 or 2007. Those were exceptional years for growth and that pace could not have been sustained for long, even absent the crisis. In the region to which the Australian economy is closely linked, growth has been very strong over the past year. Almost certainly it will need to slow somewhat in the coming year.”
Of particular interest to Toowoomba and towns in the Surat Basin Energy Province is the demand for natural resources, which has returned with prices for those products rising.
“So the outlook for demand seems likely to be driven more by investment, both private and public, and less by consumption than in some previous periods. Even before the downturn, the relative share of consumer spending in total demand was tending to diminish and that of investment spending to increase. There will presumably be corresponding shifts in the industry composition and geographical location of output and employment.
Governor Stevens’ complete address is available for viewing on the Reserve Bank of Australia website. www.rba.gov.au

Friday, 28 May 2010 :

President's Forum - featuring John Minz, Bobbie Brazil, Denis Wagner and Ken Gouldthorp

When Toowoomba’s most prominent business leaders take to the stage on current issues, our members are eager to hear what they have to say. More than 230 people attended the second Toowoomba Chamber of Commerce & Industry President’s Forum on Friday 28 May at Picnic Point.

Friday’s panel combined the experience, knowledge and wit of Toowoomba Regional Council CEO, Ken Gouldthorpe, Wagner’s Denis Wagner, Heritage Building Society CEO, John Minz and Chancellor of the University of Southern Queensland, Bobbie Brazil.

Former Chamber President, Shane Charles, prompted discussion with questions about current issues including:

o How is Toowoomba faring coming out of the GFC?

o What impact will the Super Profits Tax and the Federal / State Economy have for Toowoomba?

o Toowoomba has historically relied on agriculture. As a region do we still ride on the sheep’s back? Is there hope for the resource and agricultural sectors to work together?

o With expected population growth, infrastructure. How do we fund it and what more have we got left to do?

o How do SME’s match the $$ that can be offered by mining companies in respect of the war for talent?


In summary ...

John Minz gave a positive overview of Toowoomba’s current economic situation. He believes the city is well placed compared to many other countries and parts of Australia.

Denis Wagner explained why the Super Profits Tax was unequitable. He pointed out the current delays in construction projects, future threats and the importance of the Surat Basin resources province to Toowoomba.

Bobbie Brazil said there was no simple accommodation between intensive irrigation farming and the coal seam gas industry. She said finding the balance was still a mystery.

She explained the many problems facing this relationship and in particular drew attention to a most concerning issue - salinity.

“CSG threatens to release hundreds of thousands of tonnes of saline across the landscape and the government has no solution as to what will become of the salt once it’s brought to the surface.”

Finally she said she hoped that “maybe goodwill and good sense will come to the equation”.


Ken Gouldthorpe said that Toowoomba Regional Council (TRC) was expecting significant population growth in Toowoomba.

He acknowledged infrastructure shortage issues in Toowoomba and the lack of infrastructure subsidy from the Australian Government.

He explained that water infrastructure was the city’s most immediate issue and how TRC had addressed the problems ensuring the city’s water supply until around 2035. He went on to explain how TRC was managing the city’s sewerage systems.

“We have made extensive progress to integrate and bring together eight separate systems in water treatment processing,” he said.

He fully acknowledged Toowoomba’s lack of “connectivity” as a major concern in particular noting the airport and Second Range Crossing.

Shane Charles added to the discussion saying he felt that Toowoomba had been let down over the years in regard to transport and that recent attempts at lobbying had not worked.

Denis Wagner said he believes we must hold the Federal Government accountable and that if the LNP does get into power, there would be no going back on promises.

In regard to the Second Range Crossing and airport, John Minz said it was time to see leadership from our local politicians

Monday, 7 June 2010 :

Industry Bus Tour

Members and guests of the Toowoomba Chamber of Commerce & Industry recently enjoyed a bus tour of projects in the Surat Basin Energy Province.

The sell-out bus tour provided an insight into current projects underway in the Kogan area as well as projects planned for the future.
 
Tour Guides included Easternwell’s Marco Waanders, LJ Hooker’s Mike Stewart and Chamber of Commerce and Industry Queensland’s Barry Byrne. Throughout the tour members and guests gained a better understanding of the opportunities that exist in the Surat Basin.

The bus tour started with a quick stop at ERM Power’s Braemar 2 power station and then across the highway to Origin Energy’s Darling Downs Power Station, a gas-fired operation near Braemar, 40km west of Dalby. The Darling Downs Power Station is the biggest combined cycle power station in Australia producing enough power to supply the equivalent of 400,000 Queensland homes.

Carbon Energy’s UCG facility was the next stop on the itinerary and the pilot project has proven efficient and consistent in providing gas of stable quality and quantity.

Over lunch Wilkie Creek General Manager, Blair Jackson, provided an informative presentation on the current operation of the coal mine and future plans. Mr Jackson spoke of the growing need for increased rail capacity and Peabody’s continued commitment to the local community.

Then it was on to Kogan Creek Power Station and finally Peabody’s Wilkie Creek coal mine. At the Wilkie Creek site members and guests got their hands dirty as they went aboard a dump truck and witnessed the open-cut operation from the on-site lookout.