Luke Judge

Someone pointed out to me a while back that the furniture is sometimes made over seas in more humid climates, gets shipped in shipping containers that then sit in humid conditions often for weeks or months and then get distributed into our dry climate where the wood then begins to shrink and crack and the joints pull apart. (Probably appearing just after the warranty expires of course. And anyway WHO hauls back tables, chairs, cabinets to the store? So if there are problems I bet they persist without a lot of headaches for the sellers of cheap furniture.)

So I imagine one has to be careful about the type of furniture one’s buying. Wouldn’t quality solid wood furniture be the last thing you’d want to buy if it were made overseas while sofas etc would be ok?

I’ve had mixed experiences with Chinese made goods. Some lamps I have that were made in China are coming apart just from moving them around a bit (and they’ve got the cheapest metal receptacles – 40W max) whereas our old lamps have high quality porcelain receptacles), our outdoor copper-looking patio heater is rusting all over the lower half (I guess were’s supposed to disassemble and drag it indoors whenever it rains ) and our copper-looking bird bath rusted through in only a couple years (again I guess we were suppose to keep the bath dry).

So, I’m sure hesitant now to buy any Chinese made goods especially appliances. I dread the day I have to buy a non-north american made water heater. Who knows what chemicals will leach out of its hidden interior parts into my drinking water.

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BT Investment Management Ltd increased first-half profit by 58 per cent as the fund manager benefited from the recovery in equity and credit markets.

Net profit rose to $9.7 million for the six months to March 31, from $6.1 million in the prior corresponding period, Sydney-based BT Investment said in a statement on Monday.

Cash profit gained 11 per cent to $14.2 million.

Cash earnings per share rose 13 per cent to 8.9 cents.

BT Investment had $36.3 billion of funds under management as of March 31, 19 per cent more than the year before.

The fund manager declared a fully franked interim dividend of 5.5 cents per share, compared with the three cents paid a year earlier.

In addition, BT Investment said it was recommending a 12.5 cents per share capital return, subject to a favourable tax office ruling and shareholder approval at an extraordinary general meeting, probably in late August.

BT Investment chief executive Emilio Gonzalez, who was appointed to lead the fund manager in October, said the company had withstood the difficult times and was now taking advantage of the economic recovery.

“With markets showing some positive signs, and in particular the Australian economy recovering quickly, our revenue and profit have been sound,” he said in the statement.

“We will be focusing on leveraging off the strength of the BT brand; driving for greater representation of our product suite in the wholesale channels; and bringing greater focus to the income and diversified spaces to complement our recognised strengths in Australian Equities.”

BT Investment is 61 per cent owned by Westpac Banking Corporation, which spun off the company to retain the fund managers.

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Set of 4 Dining Chairs Antique Brown Finish

about 1 day ago – No comments

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