Cash at ATMs could run out

[SinghDude]

http://www.iol.co.za/business/markets/south-africa/cash-at-atms-could-run-out-1.1026478

Cash supplies at ATMs may be affected by the trucker strike that started yesterday, according to banks Capitec and FNB.

Capitec, a microlender and retail bank, said the retail and money dispensing industries might soon be affected if the strike continued.

Capitec spokesman Charl Nel said the strike meant money was not being collected from the big retailers.

“This increases the risks of armed robbery as the retailers are sitting with millions in cash that has not been collected,” he said. Nel said cash-in-transit vans routinely collected money from retailers and took it to the counting houses. From there the cash was dispensed.

“The whole industry will be affected by the problem. All the companies will be affected. We hope the strike will be over soon,” he said.

FNB spokesman Steve Higgins said its cash dispensing machines had not been affected by the strike yesterday.

“Not all armed guard companies are on strike. In the past we have used alternative delivery methods to restock our ATMs. We will carefully monitor the situation as it develops.”

Workers belonging to the SA Transport and Allied Workers Union and two other unions embarked on a strike throughout the country following a deadlock in wage negotiations. They are demanding a 20 percent increase over two years. The Road Freight Employers Association is offering 15 percent. – Wiseman Khuzwayo

Seems like an open invite for armed robbers.... ONLY IN SA:twisted:

 

[ChilliGirl]

yes they are planning Xmas early this year...


If i was one of the big retailers i would make another plan, possibly involve my local bank branch to have the money dropped & counted there.

 

[SinghDude]

yes they are planning Xmas early this year...


If i was one of the big retailers i would make another plan, possibly involve my local bank branch to have the money dropped & counted there.

I think that the retailers should have a similar system like Pick n Pay, Boxer, Shoprite etc.... whereby they offer cash back on purchases vis debit card. It will reduce the amount of cash on hand at their stores and also will be convenient for customers. a WIN/WIN for all.

 

[Captain Slog]

It is time that these strikes were stopped and outlawed, there are 100s of guys waiting for these jobs at less than the current drivers are earning! Create more jobs, not over-pay those that have jobs. Where is the struggle credentials in striking to make others lose their jobs?

 

[LazyLion]

Yikes!!! Me makes a panic run on my local bank! Not!

 

[ciruis]

It is time that these strikes were stopped and outlawed, there are 100s of guys waiting for these jobs at less than the current drivers are earning! Create more jobs, not over-pay those that have jobs. Where is the struggle credentials in striking to make others lose their jobs?

I don't blame them for striking, their wages are pathetic for such a high risk job.

Speaking in general terms, if people got paid their worth rather than their market related salaries, there would be a lot less of this sort of thing happening.

 

[noxibox]

It is time that these strikes were stopped and outlawed, there are 100s of guys waiting for these jobs at less than the current drivers are earning! Create more jobs, not over-pay those that have jobs. Where is the struggle credentials in striking to make others lose their jobs?

Why not just pay them 5c a year, work them 24 hours a day until they drop dead from exhaustion? Afterall they're only replaceable parts to be bought and traded like other supplies and equipment.

 

[Captain Slog]

Why not just pay them 5c a year, work them 24 hours a day until they drop dead from exhaustion? Afterall they're only replaceable parts to be bought and traded like other supplies and equipment.

Well now THAT is a really inteligent comment, there is a big difference between paying 5c a year and a struggling start up company paying a driver four grand a month. BTW the modern model of HR is just what you say "replaceable parts to be bought and traded like other supplies and equipment" - meerely human resources.

 

[Captain Slog]

I don't blame them for striking, their wages are pathetic for such a high risk job.

Speaking in general terms, if people got paid their worth rather than their market related salaries, there would be a lot less of this sort of thing happening.

Yes, probably because there would be no trucks to drive because there would be no goods to transport.

 

[Nokkie]

oky people lets start hatching a plan... who's with me! :twisted:

 

[Captain Slog]

oky people lets start hatching a plan... who's with me! :twisted:

你说的是什么?

 

[(@) (@) twister]

Yes, probably because there would be no trucks to drive because there would be no goods to transport.

And next year the doctors will strike again because the truck drivers earn more then them - so we go on and on and on.........

 

[WilD_CaT]

I don't blame them for striking, their wages are pathetic for such a high risk job.

Speaking in general terms, if people got paid their worth rather than their market related salaries, there would be a lot less of this sort of thing happening.

And pray tell how do you measure their worth?

 

[WilD_CaT]

Why not just pay them 5c a year, work them 24 hours a day until they drop dead from exhaustion? Afterall they're only replaceable parts to be bought and traded like other supplies and equipment.

Well you are allowed to quit. And drivers won't work under those conditions, which means in order to entice drivers to work for them, they will have to raise salaries.

So what you will see is salaries tapering at at the market value...the price at which drivers are willing to give up their labour for, and employers are willing to give up their cash for labour.

Thats how the market works. I mean I earn more than minimum wage, but there is no law forcing my employer to pay me that much. You make it sound like if they didn't strike they would get almost nothing. Which is factually incorrect, they would get the market wage.

The fact that we have so many unskilled people in this country is the reason why their wages are so low. Not capitalism or the rich greedy corporate people. However in order to get skills, you got to have the oppertunity to get them, which means people need to get a job and learn a skill and develope a skill.

You don't do this by increasing wages via striking to the point where employers top hiring and thus unemployment rises.

 

[CorneN]

The ATM close to me already rand out last week. Whenever I draw it says "Insufficient Funds".

lol

 

[noxibox]

So what you will see is salaries tapering at at the market value.

As I said replaceable equipment to be used and discarded.

they would get the market wage

i.e. almost nothing.

Well you are allowed to quit.

Easy for you to say of course.

Contrary to the fantasy world you live in unions came about for good reason. Labour laws came into being for good reason. Even though I wouldn't be negatively impacted, hell I'd probably make a lot more, if we went back to the way things were done before these changes, I recognise the negative impact on those lower down the ladder.

 

[Ronjay]

Well you are allowed to quit. And drivers won't work under those conditions, which means in order to entice drivers to work for them, they will have to raise salaries.

So what you will see is salaries tapering at at the market value...the price at which drivers are willing to give up their labour for, and employers are willing to give up their cash for labour.

Thats how the market works. I mean I earn more than minimum wage, but there is no law forcing my employer to pay me that much. You make it sound like if they didn't strike they would get almost nothing. Which is factually incorrect, they would get the market wage.

The fact that we have so many unskilled people in this country is the reason why their wages are so low. Not capitalism or the rich greedy corporate people. However in order to get skills, you got to have the oppertunity to get them, which means people need to get a job and learn a skill and develope a skill.

You don't do this by increasing wages via striking to the point where employers top hiring and thus unemployment rises.

Ah yes, the "theycan just quit if they are unhappy" BS. You do realize that we are talking about people here? They happen to be just like you. Can you just quit your job? Will your family be happy about it? Could you survive with out a salary to pay for your expenses?

Yeah, they can just quit if they want to.

 

[Vrotappel]

Way to many strikes happening in this economy that is supposed to be creating jobs. Time to revisit the labour laws.

 

[TheREV]

The ATM close to me already rand out last week. Whenever I draw it says "Insufficient Funds".

lol

I lolled.

 

[milomak]

i find it highly interesting that our exponents of capitalism happen to forget that at some stage, the oppressed are the factor of production that can cause huge civil unrest.

moreso that they think just paying the minimal clearing amount will solve all of our issues.

edit - those who are total capitalists may remind me of me varsity teachings - but doesn't capitalism in its purity rely on people having similar education?