The decision had political implications for the relationship between the Australian Labor Party and the union movement, especially with regards to the latter's continuing campaign to have the Australian Building and Construction Commission abolished.
The 1998 Australian waterfront dispute resulted with stevedoring firm, Patrick Corporation under CEO Chris Corrigan, attempting to sack its entire waterfront workforce of 1400 people through company restructuring.
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The foundation is named after Jim Bacon, who spent 25 years working in the union movement, was elected to the Tasmanian House of Assembly and became Premier of Tasmania, a position he held from 1998 until his resignation in March 2004.