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The Standard

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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    The troubled Whangaruru charter school asked Hekia Parata for $25,000 to fence the school farm at the expense of spending on teaching, Labour’s Education spokesperson Chris Hipkins says. “This unbelievable revelation comes hard on the heels of Hekia Parata’s decision to… ...
    1 day ago
  • Troubled school wanted $25,000 dollars to fence farm
    The troubled Whangaruru charter school asked Hekia Parata for $25,000 to fence the school farm at the expense of spending on teaching, Labour’s Education spokesperson Chris Hipkins says. “This unbelievable revelation comes hard on the heels of Hekia Parata’s decision to… ...
    1 day ago
  • Government report on sexual & family violence a good first step
    Yesterday the Government released the cabinet paper on progress on the work programme of the Ministerial Group on Family Violence and Sexual Violence. Along with the Human Rights Commissioner and Women’s Refuge, I really welcome the report. I’m relieved that… ...
    GreensBy Jan Logie MP
    1 day ago
  • Government report on sexual & family violence a good first step
    Yesterday the Government released the cabinet paper on progress on the work programme of the Ministerial Group on Family Violence and Sexual Violence. Along with the Human Rights Commissioner and Women’s Refuge, I really welcome the report. I’m relieved that… ...
    GreensBy Jan Logie MP
    1 day ago
  • Prisoner voting disqualification and the Bill of Rights Act
    In 2010, National rammed the Electoral (Disqualification of Sentenced Prisoners) Amendment Bill through Parliament. Paul Quinn’s Member’s Bill existed because Paul Quinn thought anyone who’d been imprisoned was a serious offender, and serious offenders had ‘forfeited’ their right to vote.… ...
    GreensBy David Clendon MP
    2 days ago
  • Mainfreight ‘appalled’ by Government’s rail madness
    The Government has been given a serve by New Zealand-based international trucking and logistics firm Mainfreight which says it lacks a national transport strategy, and has treated rail badly, Labour's Transport spokesperson Phil Twyford says. The company has told shareholders it… ...
    2 days ago
  • National’s Health and Safety Reform Bill: less safety and fewer rights at...
    The New Zealand Council of Trade Unions is embarking on a campaign to fight the changes that weaken the Health and Safety Reform bill. As part of the campaign the CTU has organised vigils with the display of 291 crosses… ...
    GreensBy Denise Roche MP
    2 days ago
  • All options need to be put on meat sector table
    Farmers must be given every assurance that all potential risks have been considered before Silver Fern Farms opens its door to foreign equity, Labour’s Primary Industries spokesperson Damien O’Connor says. “The ongoing saga involving the meat sector and amalgamation has… ...
    2 days ago
  • Flag the referendum if 50% or more don’t vote
    Labour has moved to have the second flag referendum canned if the first attracts fewer than half the eligible number of voters, Opposition Leader Andrew Little says. “John Key has already wasted more than $8 million on his vanity project… ...
    2 days ago
  • 90,000 cars reclassified in botched ACC ratings
    New figures obtained by Labour show the ACC Minister’s botched motor vehicle levy system has resulted in 90,000 vehicles having to be reclassified so far – at a cost of $6 million, Labour’s ACC spokesperson Sue Moroney says. “Nikki Kaye’s… ...
    3 days ago
  • Brutal health cuts confirmed, crucial services suffer
    Chronic under-funding by National has seen the health budget slashed by $1.7 billion in just five years, Labour’s Health spokesperson Annette King says. A report by Infometrics, commissioned by Labour, shows health funding has been cut in four of the… ...
    3 days ago
  • Meth ring under Serco’s nose
    The news that two Serco inmates have been arrested for helping to run a methamphetamine ring from prison should be the final straw and see their contract cancelled, says Labour’s Corrections Spokesperson Kelvin Davis. “National has stood by Serco despite… ...
    4 days ago
  • Ministers failing women and their own targets
    New figures showing just five Ministers have met the Government’s own reduced targets for appointing women to state sector boards is evidence National is failing Kiwi women, Labour’s Women’s Affairs spokesperson Sue Moroney says. “The Ministry for Women’s 2015 Gender… ...
    4 days ago
  • Charges up for some as funding up for grabs
    A proposal being considered by the Government would see some people having to pay more for health care and district health boards forced to fight amongst themselves to fund regional health services, Labour’s Health spokesperson Annette King says “Information leaked… ...
    4 days ago
  • Stop experimenting on kids
    The trouble with the Charter school model is that it is a publicly funded experiment on children. The National Government has consistently put its desire to open charter schools ahead of the safety of the children in them, ignoring repeated… ...
    GreensBy Catherine Delahunty MP
    4 days ago
  • Bank puts the squeeze on mid Canterbury farmers
    News that an unnamed bank in Ashburton has put a receiver on notice over financially vulnerable farmers will send a chill through rural New Zealand, says Labour’s Finance Spokesperson Grant Robertson. “The Government needs to work with  New Zealand’s banks… ...
    4 days ago
  • Key is trading away New Zealand land and homes
    John Key yesterday admitted what National dishonestly refused to confirm in Parliament last week – he is trading away New Zealand’s right to control who buys our homes and land, says Opposition leader Andrew Little. “The Prime Minister must now… ...
    5 days ago
  • Razor gang takes scalpel to health
    Plans by the Government to take a scalpel to democratically elected health boards are deceitful and underhand, coming just months after an election during which they were never signalled, Labour’s Health spokesperson Annette King says “Leaked documents reveals a radical… ...
    5 days ago
  • Spin lines show a department in chaos
    Corrections Spin Doctors sending their place holder lines to journalists instead of responding to serious allegations shows the scale of chaos at the department over the Serco scandal, says Labour’s Corrections Spokesperson Kelvin Davis. “As more and more serious allegations… ...
    7 days ago
  • Court ruling shows law should never have been passed
    A High Court ruling that a law banning prisoners from voting is inconsistent with a properly functioning democracy should be a wake-up call for the Government, Labour’s Justice spokesperson Jacinda Ardern says. In an unprecedented ruling Justice Paul Heath has… ...
    1 week ago
  • Judicial Review Gamble Pays Off for Problem Gambling Foundation
    Congratulations are due to the Problem Gambling Foundation (PGFNZ) who have won their legal case around how the Ministry of Health decided to award their contracts for problem gambling services to another service provider. Congratulations are due not just for… ...
    GreensBy Denise Roche MP
    1 week ago
  • Environmental Protection Agency appoints GE advocate as new CEO
    This week, the Environmental Protection Authority Amendment Bill passed its first reading in Parliament. The Bill puts protection of the environment into the core purpose of the Environmental Protection Authority. This month, Dr Allan Freeth, the former Chief Executive of… ...
    GreensBy Steffan Browning MP
    1 week ago
  • Charanpreet Dhaliwal death demands genuine health and safety reform
    The killing of a security guard on his first night on the job is exactly the kind of incident that National’s watered-down health and safety bill won’t prevent, says Te Atatu MP Phil Twyford. The coronial inquest into 22-year-old Charanpreet… ...
    1 week ago
  • Arbitrary sanctions hit children hardest
    Increasing numbers of single parents are being penalised under a regime that is overly focussed on sanctions rather than getting more people into work, Labour’s Social Development spokesperson Carmel Sepuloni says. “Figures, obtained through Parliamentary questions show 3000 more sanctions,… ...
    1 week ago
  • Hekia just won’t face the facts
    Hekia Parata’s decision to keep troubled Whangaruru Charter school open despite being presented with a catalogue of failure defies belief, goes against official advice and breaks a Government promise to close these schools if they were failing, says Labour’s Education… ...
    1 week ago
  • No more silent witnesses
    Yesterday I attended the launch of a new initiative developed by and for Asian, Middle eastern and African youth to support young people to name and get support if there is domestic violence at home. The impact on children of… ...
    GreensBy Jan Logie MP
    1 week ago
  • Single Use Plastic Bags campaign – Some wins and some green-washing
    As we near the end of Plastic Free July I’m nearing the conclusion of my Say No To Plastic Bag tour when I will have completed all 30 of my public meetings. The campaign was designed to work with community… ...
    GreensBy Denise Roche MP
    1 week ago
  • Single Use Plastic Bags campaign – Some wins and some green-washing
    As we near the end of Plastic Free July I’m nearing the conclusion of my Say No To Plastic Bag tour when I will have completed all 30 of my public meetings. The campaign was designed to work with community… ...
    GreensBy Denise Roche MP
    1 week ago
  • Minister must take responsibility for problem gambling debacle
    The Government’s handling of the Problem Gambling Foundation’s axing in a cost-cutting exercise has been ham-fisted and harmful to some of the most vulnerable people in society, Associate Health Labour spokesperson David Clark says.“Today’s court ruling overturning the axing of… ...
    1 week ago
  • Labour will not support TPP if it undermines NZ sovereignty
    The Labour Party will not support the Trans Pacific Partnership Agreement unless key protections for New Zealanders are met, Opposition leader Andrew Little says.“Labour supports free trade. However, we will not support a TPP agreement that undermines New Zealand’s sovereignty. ...
    1 week ago
  • Coleman can’t ignore latest warnings
    Resident doctors have advised that a severe staffing shortage at North Shore Hospital is putting patients’ lives at risk, Labour’s Health spokesperson Annette King says. “They say a mismatch between staffing levels and patient workloads at North Shore has… ...
    1 week ago
  • ACC must remove barriers to appeals
    The Government must prioritise removing barriers to justice for ACC claimants following a damning report by Acclaim Otago, Labour’s ACC spokesperson Sue Moroney says. “ACC Minister Nikki Kaye must urgently scrap her flawed plan to remove claimant’s right to redress… ...
    1 week ago
  • Six months’ paid parental leave back on the agenda
    Six months’ paid parental leave is back on the agenda and a step closer to reality for Kiwi parents after Labour’s new Member’s Bill was pulled from today’s ballot, the Bill’s sponsor and Labour MP Sue Moroney says. “My Bill… ...
    1 week ago
  • Sole parents at risk of having no income
    New requirements for sole parents to undertake a reapplication process after a year is likely to mean a large number will face benefit cancellations, but not because they have obtained work, Labour’s Social Development spokesperson Carmel Sepuloni says. “Increasing numbers… ...
    1 week ago
  • Juking the Welfare Stats Again
    Last week the government’s major initiative to combat child poverty (a paltry $25 increase) was exposed for what it is, a lie. The Government, through the Budget this year, claims to be engaging in the child poverty debate, but instead,… ...
    GreensBy Jan Logie MP
    1 week ago
  • OCR rate cut a result of flagging economy
    The Reserve Bank's decision to cut the Official Cash Rate to 3 per cent shows there is no encore for the so-called 'rock star' economy, says Labour's Finance Spokesperson Grant Robertson.   "Today's interest rate cut comes off the back… ...
    1 week ago
  • Reboot to an innovation economy, an Internet economy and a clean economy
    In my short 33 years on this planet we’ve seen phenomenal technological, economic and social change, and it’s realistic to expect the next 33 will see even more, even faster change. You can see it in the non-descript warehouse near… ...
    GreensBy Gareth Hughes MP
    1 week ago
  • Bill that puts the environment into the EPA passes first hurdle
    A Bill that puts the environment squarely into legislation governing the Environmental Protection Authority passed its first reading today, says Meka Whaitiri.  “I introduced this member’s bill as the current law doesn’t actually make protecting the environment a goal of… ...
    1 week ago
  • Key’s KiwiSaver deception exposed
    KiwiSaver statistics released today expose John Key's claim that the cutting of the kickstart payment "will not make a blind bit of difference to the number of people who join KiwiSaver” to be duplicitous, says Labour Finance Spokesperson Grant Robertson.  “Official… ...
    1 week ago
  • Minimum Wage Amendment Bill to protect contractors
    All New Zealanders should be treated fairly at work. Currently, the law allows non-employment relationships to be used to get around the minimum wage. This is unfair, says Labour MP David Parker. “The Minimum Wage (Contractor Remuneration) Amendment Bill, a… ...
    1 week ago
  • Bill raises bar to protect Kiwi farmland
    The Government’s rubber-stamping of every one of the nearly 400 applications from overseas investors to buy New Zealand farm land over the last three years proves tougher laws are needed, Labour MP Phil Goff says. “In the last term of… ...
    1 week ago
  • Costly flag referendum should be dumped
    John Key must ditch the flag referendum before any more taxpayer money is wasted, Opposition Leader Andrew Little says. “Millions of dollars could be saved if the Prime Minister called a halt to this hugely expensive, and highly unpopular, vanity… ...
    1 week ago
  • Nats letting Serco off scot free
    Government members have prevented Parliament’s Law and Order select committee from getting answers out of a senior Serco director about the fight clubs being run at Mt Eden prisons, says Labour’s Corrections Spokesperson Kelvin Davis. “At today’s Law and Order… ...
    1 week ago
  • Charter school experiment turns into shambles
    The National Government’s charter school experiment has descended into chaos and it’s time for Hekia Parata to stop trying to cover up the full extent of the problems, Labour’s Education spokesperson Chris Hipkins says. “The Education Minister must release all… ...
    1 week ago

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