Editor's Note: A line in the sand
Federal Treasurer Wayne Swan may almost have achieved the impossible - getting the waring factions involved in the textile, clothing and footwear (TCF) sector to finally lay down their guns.
In offering his long-awaited budget last week Swan delivered to the TCF sector much more than a $401 million cash injection - he also gave them the nod to move forward.
Since March 2008 when Senator Kim Carr first announced a complete review of the TCF industry and its ability to sustain itself long term, the sector has been in a state of limbo.
Aside from dealing with the very real meltdown of the global financial crisis, the TFIA, the TCFUA, the FTAA, the Homeworkers Code of Practice Committee, and others have been caught up in an endless tangle of red tape with submissions, responses to submissions, recommendations and then responses to recommendations demanding their attention.
This has meant little in the way of progress for the sector with each industry group so caught up in ensuring their own agendas were heard by Carr et al there has been little time to make headway on other issues.
On a national and international stage the accusations and perceived posturing has done little to endear the sector to an already cynical public.
With Swan's announcement offering these groups a direct link to the federal government's ear, via the proposed establishment of a high level advisory group, and confirmation of funding and support in terms of small business incentives, sizing standards and procurement - perhaps now they can begin present a united front.
And finally get on with the business of fashion.
And another thing
As this issue went to press Ragtrader Online had just been the first to break the news that Specialty Fashion Group - which counts among its stable brands such as Millers, Katies, Queenspark and City Chic - had found "significant" irregularities in its accounts to the tune of several million dollars.
An internal review showed the irregularities could be traced back to the group's property related expenditure and that up to $16 million had been falsely charged to the company over the past four or five years.
As per usual the listed company has gone to ground with the group's media spokesperson unavailable for comment.
The good news is that someone may eventually be held accountable with a "senior" employee already suspended - pending the outcome of SFG's investigations - and legal action initiated in the hope all or at least some of the money may be recovered.
The bad news is this will come of little consequence to the dozens of now redundant employees whose jobs may have been saved had the company or its auditors picked up on the problem a tad earlier.