KSS eKourier July 2022

FEATURE

THE EVER CHANGING WORLD W e have been through fire, floods and Covid, surely things will

Interest Rates and they will continue to rise.

I t looks like we are back in the seventies, is this a good or bad thing and what should we do?

return to what we feel is normal soon. Alas, the world keeps churning out surprises with the unexpected almost becoming the new normal.

• Fruit and Veg prices going up as a result of recent rains and supply issues of fertiliser etc.

• The good news is people got through the 70’s unscathed.

Has this happened before?

• Times were tough but they only lasted a few years.

What is currently impacting the world?

The last time the world faced such economic issues was in the early 1970’s; • Israel was invaded in the six day war (was a lot quicker than the Ukraine War) and the Vietnam War was ending.

• Super returns were negative or low.

• War in the Ukraine is pushing up world energy prices for oil, gas and coal. This will have a direct impact for all of us as we see significant increases in prices. • China working towards a zero Covid Policy – this is causing signifi - cant supply chain disruptions and further uncertainty in mineral prices (iron ore down) and world economic development.

• Investing was risky and a job was crucial.

But the 70’s did deliver Disco, Bell Bottoms, Flower Power and peace and love! So go out get your flares, put a flower in your hair, hug someone and let’s work together to get through these uncertain times. Anthony Rous Chief Financial Officer

• USA inflation was high and interest rates increasing.

• Basic food shortages – wheat etc.

• The world went into recession and stagflation arose – inflation and a recession.

• Inflation lifting and as a result the Reserve Bank of Australia is lifting

TEAMING UP FOR GREAT THINGS

because of the experience level of those Team Members in the room.

much overdue training.

I've had the privilege recently to assist the Teams and run NET in Adelaide. We’ve also just completed two NET courses for the NZ Teams. At the same time, Wayne Brown has conducted some bigger groups in Sydney, Brisbane and Melbourne. It has been refreshing to be back out there, to see enthusiasm and hunger to learn more about the business. Likewise, it's been quite surprising to see how significantly training has been interrupted with many Team Members attending having been part of the KSS family for over a year! We aim for Team Members to get through NET somewhere around their 8 to 12 week mark after joining us. It's led to a different experience for some and a nice opportunity for a deeper dive into some subjects simply

There’s been great discussion on many of the key principles including a deeper understanding of the three pillars of storage, the principles behind FREEDOM and our goal to be a Famous Household Name. It was a pleasure to visit the Hawkes Bay Team and be hosted by Nell and her Teammates. Onekawa is a great venue, a really pretty town near Ahuriri and Napier. They suffered through my dad jokes with dignity and stoicism. They should be proud! Seriously though, congratulations to all who attended; Marie, Joshua, Terry, Toni, Caren, Steve and Lyn for completing their NET. You’re in charge now!

W ith the relaxing of Covid rules and the opening of borders, many of you will have seen a push by us at THQ and within Operations to get back into L to R: Toni Metz (TSM), Terry Friel (Tauranga), Marie Sullivan (Hastings), Joshua Beach (Napier/Onekawa).

Darryl Hodgson NSW Operations Manager

11 Kennards Kourier July 2022