MERRY CHRISTMAS FROM THE SEA EXEC AND UNITE STAFF
All the best for the festive season and we hope to have a great 2008.
UNITE HOUSE, L12, 300 QUEEN ST
Unite House will remain open for service all working days except the Stat Holidays. If you need to contact someone just call 0800 2 UNITE.

AMBASSADORS
Security staff working the disestablished Ambassador role have received the second $4000 payment. This was negotiated as part of the SEA-Unite Collective Agreement negotiations.

FINGERSCANNING
People are still being docked for clockout failures. This is not acceptable. Managers should be checking time in attendance daily. Adjustments should be made immediately when the error is detected. This appears to be a problem mainly in Table Games. We will continue to press for a change in attitude by the company. It seems to be an example of using a sledgehammer to deal with a problem (some staff not clocking out). It means the innocent suffer along with the guilty. And the company knows the machines are still faulty.

SICK LEAVE
If you have a medical certificate for more than one day then you only need to make one call and tell your manager the number of days you will be absent. If you feel better you will need clearance from your doctor to resume work early.

HOUSEKEEPING
Back Pay Claim: SEA is pursuing a backpay claim for missed breaks and unpaid extra hours worked by housekeeping staff.
Breaks: They are being allocated each day. There are two sessions, and more people are taking breaks. The new reduced 15 rooms guideline has lightened the workload. It has been emphasized this is a guideline only and people are paid by the hour not by the room.
Sharp boxes: These are now supplied to staff.
Security phone numbers: The trolleys have stickers with the security phone number and the housekeeping phone number on it.
Union membersÕ monthly meetings: These are approved. The next one is on Tues 18 at 8.30am in the Welcome Room. We can do these regularly.

CEI BONUS
At long last staff are to get some recognition for their hard work in the form of the CEI bonus. However we are disappointed that the hamper has been cancelled and replaced with a zoo trip that few will be able to take part in. While a zoo trip might be fun there was no need to take away a small Xmas thank you from the company that went to everyone.

DISCUSSIONS WITH SFWU
As discussed at the SEA-Unite stopwork meetings we have begun discussions on becoming one union on site. This will run alongside UniteÕs discussions about forming a new ÔSuper UnionÕ with the NDU and SFWU. As a first step we have suggested a joint delegatesÕ meeting before Christmas and negotiation of a single Collective Employment Agreement next year.

CLAIMS FOR THE CEA
At the SEA-Unite stopwork meetings we began the process of drawing up claims to be put forward in next yearÕs CEA negotiations. DelegatesÕ meetings have clarified what members see as a priority. This includes a decent pay rise of course; the need to deal with the lack of security for part-time staff; the costs imposed by SkyCity that take back wage increases (ie carpark, 24/7, shuttle); long service benefits and much much more. If you have any suggestions put them in the drop box by wardrobe.

CONGRATULATIONS AND THANKS
We want to extend our thanks and best wishes to Raewyn Brown who has been appointed to a new position at SkyCity and will be passing on her role as SEA-Unite secretary to someone else.

CASINO BUSINESS WOBBLES AT HIGH STAKES DEBT TABLE
ARE THERE LESSONS FOR THE SALE OF SKYCITY?
The gaming industry worldwide is showing signs of being hit by the credit crunch afflicting Leveraged Buy Outs (LBOs) where big Private Equity companies buy other companies using huge debt. The buyout rush culminated in last year's US$27.8 billion leveraged buyout of HarrahÕs Entertainment by Texas Pacific Group and Apollo Advisors.
In January 2006, Aztar Corporation was acquired in a USD 2.75 billion LBO by Columbia Sussex in a tough bidding war which pushed up the price and saw it taking on Aztar's $676 million debt. Aztar owns the Tropicana casino-resort properties in Las Vegas and Atlantic City, NJ and other casinos.
Following its assumption of ownership, Columbia Sussex laid off 1,000 union workers at the Atlantic City Tropicana - a quarter of the workforce. The establishment is now understaffed and filthy, according to the official investigative report undertaken as part of the casino's relicensing procedure. "Numerous patron complaints from Tropicana Atlantic City's own files evidence the impact that the layoffs have had on the condition of the property and shown that there is true concern about Tropicana's ability to create and maintain a successful, efficient casino operation," said Yvonne G. Maher, acting director of the Division of Gaming Enforcement.
Falling real estate values, continuing credit contraction and weakening consumer demand are all reflected in the falling value of buyout debt generally as the spectre of default and possible bankruptcy looms over the most vulnerable leveraged buyout deals. A November 7 article in the US Business Week notes that "Half of the dozen US companies that defaulted on their debt this year were owned by private equity firms", citing Standard & Poors.
"Leverage", observes Barron's in a December 3 article, "unfortunately cuts both ways. When markets get rocky and financial results suffer, private equity investments can generate big losses. Looking ahead to 2008 and '09, private equity firms could be in the uncomfortable position of telling their investors about impaired equity investments or complete wipe-outs."