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Meridian sale panic

Written By: - Date published: 7:46 am, July 5th, 2013 - 45 comments
Categories: infrastructure, national, Privatisation - Tags: , ,

The Nats must be panicking about the prospects for the sale of Meridian – because they’re resorting to extraordinary tactics:

Incentive scheme could be offered for Meridian Energy sale

Radical incentives could be offered to those wanting a stake in the next State Owned Enterprise for sale under the Government’s asset sales programme.

ONE News has learned that shares in Meridian Energy could be paid for installments, effectively amounting to an interest-free loan. …

Bribing already wealthy investors with free money, how very – National. But with Mighty River Power shares well down on their opening price they may still have their work cut out for them…

Why not (ht toad) – just Keep Our Assets?

45 comments on “Meridian sale panic”

  1. Winston Smith 1

    Another winner of a proposal by National, now lets compare it to Labours latest proposal… (sorry I know its a bit mean picking on Labour when they’re down)

    • One Anonymous Knucklehead 1.1

      Yeah, bad timing for this to come out now: just when National looked like getting some “too-PC” traction against Labour, they go and offer election bribes to 2% of the population. The funny thing is you seem to think that’s a vote winner.

      • Winston Smith 1.1.1

        Of course its a winner and finally National learnt from Labour about the importance of bribes (it took them long enough though)

        • One Anonymous Knucklehead 1.1.1.1

          Keep telling yourself that.

        • Lanthanide 1.1.1.2

          Yeah, ’cause the tax cuts north of $50 a week, that they never delivered, weren’t a bribe.

          That was 2008. Maybe you weren’t paying attention all that time.

    • Suitably Clueless 1.2

      How is this a winner? Now my public asset is being sold to ‘mum and dad’ investors and now they are being bribed with our tax dollars. You’re lack of objectivity is as startling as Patrick Gowers.

      • Winston Smith 1.2.1

        and being sold to me as well :)

        • Polish Pride 1.2.1.1

          You’d have to be an idiot to buy shares. Cost of Alternative energy continues to get cheaper and cheaper. It just isn’t a good investment.

          • Winston Smith 1.2.1.1.1

            Lol

            Wind power couldn’t be run without subsidies but thanks for the financial advice I’ll give it due consideration and then stick with hydro generation

            But thanks anyway

            • Polish Pride 1.2.1.1.1.1

              its not wind power. Run the numbers on personal Solar vs putting the money in the bank. As solar continues to become more affordable more and more will go off grid and grid tied. So you are investing in a company that will have a shrinking customer base. But then hey, Its your money 😉

            • Polish Pride 1.2.1.1.1.2

              its not wind power. Run the numbers on personal Solar vs putting the money in the bank. As solar continues to become more affordable more and more will go off grid and grid tied. So you are investing in a company that will have a shrinking customer base. But then hey, Its your money 😉

          • Melb 1.2.1.1.2

            Wouldn’t that make it better for the Govt to divest itself of such dead technologies then?

          • Zaphod Beeblebrox 1.2.1.1.3

            Don’t see why nobody in the media actually get this. The price of solar generation is plummeting and NZ has a ridiculously cumbersome and expensive delivery system for power. As power prices go up and we invest in more and more efficient appliances and houses the only thing propping up the large increasingly expensive sources of remote generation will be governments who need to appease private shareholders in these white elephant companies. Demand for power is falling not increasing in Australia, same thing is going to happen in NZ.

    • tracey 1.3

      So you agree now is the time for the Government to be giving money away… when everyone else is tightening their belts.

    • paul andersen 1.4

      you misspelled weiner, a word you especially should know the spelling and meaning of.

  2. AmaKiwi 2

    Meridian has door-to-door sales people in my neighborhood signing up customers so they can show increased sales. They are offering substantially lower power prices (compared to Genesis), a $250 rebate after 3 months, BUT, you can’t leave the scheme until after March 2015, by which time Meridian should have been sold off.

    • Chris 2.1

      Meridian has been doing this for a few years now. I’ve had a number of their salesman come to my door and refuse to leave until I actually shut the door in their face. Never had such a hard sell in my life.

      Edit – always wondered how effective this tactic is (i.e. how many people do they sign up as opposed to people like me who would never even think of using them because of the people they have sent to my door.

      • Rogue Trooper 2.1.1

        well, we have a “Beware Dog / s” notification to cold-callers.

        • AmaKiwi 2.1.1.1

          A farmer neighbor of mine had a sign: “Every third salesman gets shot. The second one just left.”

  3. Descendant Of Sssmith 3

    So the bribing has already started before the sale.

    Presumably next round the next power company owned by the state on the block will do something similar.

    Still at least mum and dad investors can actually make (save) some money from the $250 rebate.

    Be a bit of a shame if they were all MRP customers though. Those dividends and share prices might not be looking so good.

    Be interesting whether there’s been any govt interference in this? Is for instance this offer being made across the country or just targeting curtains parts and what the rationale is for that.

  4. fender 4

    Like I said yesterday, this is just bribery.

    Will those without a deposit still be able to take advantage of this interest free hire purchase?

    • Rogue Trooper 4.1

      Yep. Interest free loans to gamble.

      • fender 4.1.1

        “Gamble”

        Exactly what I think when I hear the “news” on how the “markets” have performed, and I’m left wondering where are the results for the horse races.

        Some gambling is given the respectable name known as “investing”. Investing sounds so much more noble.

        • Winston Smith 4.1.1.1

          Cool, I was going to buy some but instead I’ll take advantage of the interest free loan :)

          • Descendant Of Sssmith 4.1.1.1.1

            Hopefully everyone on a benefit will be able to get an interest free advance to buy their shares.

            If it’s good for those with money, if it’s really important to the country all New Zealanders participate and it it’s key to the countries economic prosperity then all beneficiaries should be able to be part of it as well.

          • fender 4.1.1.1.2

            Taking advantage, at someone else’s expense is what you rightwing creeps do best.

            • Winston Smith 4.1.1.1.2.1

              Sounds like left wing policy to me :)

              • fender

                You were the one who said:

                “Cool, I was going to buy some but instead I’ll take advantage of the interest free loan”

                It’s your policy you fool. It’s a waste of time talking with you obviously, you are only better than Brett Dale because you can spell better than that fool, but you are both insane in the membrane.

                • Winston Smith

                  I’ll explain then shall I?

                  “Sounds like left wing policy to me”

                  – See that was in reference to your comment of: “Taking advantage, at someone else’s expense is what you rightwing creeps do best”

                  Left wing policy is all about taxing people who work harder and earn more and giving it to people who earn less.

                  Thats what I was referring to.

                  Another example would be when labour introduced its election bribe of WFF it benefitted a lot of people but a lot of people got no benefit (such as myself) from it even though we all paid for it.

                  Now National is offering an election bribe and I can benefit from it. :)

                  And nice reference from 1993, good to see lefties are up to date and current

                  • Descendant Of Sssmith

                    You like most righties confuse “work harder” with “earn more”.

                    They are not anywhere near the same thing and many people don’t even work to earn.

                    Paying less tax because you work harder would revolutionise the tax system. Cleaners and plumbers would pay less and landlords and shareholders would pay more. Banks and Apple would pay much much more.

                  • One Anonymous Knucklehead

                    So, you earn more if you work harder, do you? Like nurses. Or coal-miners, for example.

                    You’re delusional. Productivity up, wages down.

                    • Descendant Of Sssmith

                      Yep apparently Google works harder and we take lots and lots of tax off them…….
                      http://www.nbr.co.nz/article/google-stacks-jobs-new-zealand-service-centre-online-ad-sales-grow-bd-139780

                      And apple works itself down to it’s core. That’s all that’s left once the taxman makes his cut…….

                      http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10873068

                      It’s bloody hard work making those digital copies!

                      And despite lowering taxes to make it easier to do business and to create jobs we find businesses doing this:

                      http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10602135

                    • Winston Smith

                      Personaly speaking I earn more now then I ever have in my life, I also have more responsibility, had more training and my job is now harder.

                      Which means I earn more but work harder for it.

                    • Descendant Of Sssmith

                      I work harder and earn more than I ever have as well.

                      I don’t however begrudge paying tax for welfare and am well aware that the people at the bottom needed the money that was given to me in tax cuts more than I needed it.

                      I also recognise that I’m fortunate in many ways to have a good brain and a decent paying job that requires my skills and well aware it’s only a fall or a car accident away from not being in that position. Either of the two times I’ve been hit from behind by a car while biking for instance could have left me a permanent invalid.

                      Dint of genetics and good luck and opportunity play a significant part in my circumstances. Hard work and discipline builds on that but the first three things play a significant role as well. As did being born in the sixties when there were when I entered the work force jobs for everyone that was remotely able and a commitment by government to a welfare system with little moralising.

                      And yep we paid more tax for it.

                      Now we pay less tax but moan much much more about paying it.

                      Why because in paying less tax we have deluded ourselves that we were getting pay increases. We sacrificed decent pay rates for tax cuts and let corporate business in particular take more and more profit.

                      The biggest change in this country has been the movement of wages into profit.

                      From 70% of GDP in wages to 30% is a dramatic change. Those who benefit the most from such a change are the owners of the businesses whom can never have enough. The corporate model stifles competition and small business suffers because the wage earners have less to spend. Hoarding money (accumulating wealth) does the country little good.

                    • Colonial Viper

                      “Why because in paying less tax we have deluded ourselves that we were getting pay increases. We sacrificed decent pay rates for tax cuts and let corporate business in particular take more and more profit.”

                      Spot on.

                    • Draco T Bastard

                      Those who benefit the most from such a change are the owners of the businesses whom can never have enough.

                      Reminds me of what I said here:

                      See, if we follow the logic that presently applies there would be no tax take as all expenses would be tax deductible. This brings up the question: Why are there tax deductions at all? The answer would seem to be in who gets the tax deductions and that’s a class of people which happens to be a minority – the bosses.

                      Our entire socio-economic system is designed to enrich a few people at everyone else’s expense.

                  • fender

                    Only a fool would think a “left-wing policy” for the 2% is still a left-wing policy.

                    Descendant Of Sssmith points out the gaping hole in your reasoning.

    • Rogue Trooper 5.1

      Robert Wiedemer : ‘America’s Bubble Economy’, now the sequel follow-up ‘Aftershock’.
      (” various online networks have repeatedly shut down”, his video interview). Some interesting corresponding commentary on Zero Hedge, QE 4- 99, for example.

  5. Keep going Key, more and more Kiwis are waking up to your smug belligerence, you have no policy or desire to help the underprivileged. All is done for your corporate mates and your own selfish interests.

    When the power companies are in private hands and prices continue to rise, you will be off somewhere without a care while an ever increasing population of down trodden New Zealanders struggle to pay their power bill and keep their families warm.

    SHAME JOHN KEY SHAME!!!!!!!!

  6. Appleboy 7

    Winston – are you really that fucking ignorant or just plain greedy both?

    Here’s the thing. 5% of kiwis earn over $100K. and 1% earn incomprendably more than that. In your world, anyone who doesn’t earn a comfortable wage is lazy and/or a bludger.

    Well WINSTON – it isn’t possible for everyone or even the majority to earn the big bucks. There isn’t enough jobs paying that in any society, including new Zealand in case you hadn’t noticed.

    So, you greedy Nat/ACT types do well, while the majority just get by or struggle , and struggle even more whenever there is a right wing government in place.

    You greedy prick – you begrudge the average kiwi doing Ok because of your greedy worldview.

    You and your types make me sick and you’ll never get it, you’ll never get it, how greedy and utterly lacking in empathy for anyone outside of your little rightwhinge wankers bubble.

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