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The Genesis share float – or is that share sink?

Written By: - Date published: 10:03 am, March 14th, 2014 - 23 comments
Categories: bill english, debt / deficit, national, Privatisation, same old national - Tags:

The details of the share float have now been announced.  According to stuff:

The Government has poured sugar on its offer of shares in Genesis Energy, pricing the company in a range below analyst valuations last month and offering a bonus share for every 15 held for just a year.

Details of the initial public offer were announced today by Finance Minister Bill English, revealing an offer price of $1.35-$1.65 a share, valuing Genesis at $1.35 billion to $1.65 billion.

The final price will be set on March 28 and investors will be able to buy shares from March 29 to April 11. The company is due to list on the NZX and the ASX on April 17.

At the offer price range, Genesis shares are expected to have a gross dividend yield of 13.5 to 16.5 per cent.

The offer terms value Genesis potentially well below the range expected by analysts from UBS and First NZ Capital. UBS had valued Genesis at $1.6b-$1.9b, while First NZ put its range at $1.4b-$1.8b.

The bonus share offer terms are sweeter than those for Mighty River Power, the first of the state-owned power companies to float last May.

Investors in Mighty River had to hold their stock for two years before receiving the bonus of one share for every 25. The maximum bonus will be capped at 2000 shares per investor.

While the Government sold down 49 per cent of Mighty River and Meridian Energy in the previous offers, it may sell as little as 30 per cent of Genesis, depending on the level of demand.

The amount of shares it will sell will be decided on March 26.

I posted about this earlier.  The yield previously was anticipated to be 9% but is now anticipated to be around 15%.  The anticipated value of the company now has a mid point of $1.5 billion compared to previous estimates of up to $2 billion.  If only 30% of the shares are sold this will result in $500 million being paid.  With a one for 15 loyalty share offer the sale proceeds could be $467 million less cost of sale.  The loyalty share offer is much more generous than the one in 25 share bonus offered during the Meridian float.  Profits will have to increase from $114 million last year to well over $200 million for the yield figure to be reached.  And you have to wonder why you would sell a share returning 15% to pay down debt where you are paying interest at 5% or so.

Bill English was on Morning Report this morning.  He was almost apologetic that Mighty River Power shareholders have done so badly and hinted that the generosity shown in this float somehow made up for things.  The Government is making sure that the share float is a success for the corporates and rich individuals who are buying shares.  Funny that but I thought they should be looking after the people of New Zealand instead.

Meanwhile gross Crown debt is $83 billion.  The share floats have done no more than stopped debt running slightly higher while at the same time divested New Zealand of income earning assets and enriched the already wealthy and the merchant bankers engaged to complete the sale.

And they say that National has the skills to handle the economy?

23 comments on “The Genesis share float – or is that share sink?”

  1. Enough is Enough 1

    Don’t waste time trying to argue the economics of this. You will you confuse your poor brain because it makes no sense.

    The intention was always to reward those people that backed them by providing funding over the past decade. Those wealthy backers have now got what they demanded and will own 48.5% of our power stations.

    It is theft and can be explained as simply as that.

  2. shorts 2

    “it means that during the election campaign…whenever the Key government tries to scare us about the prospect of a Labour/Greens cabal running the economy, or with Russel Norman being a heartbeat away from the Finance portfolio or whatever else the Crosby/Textor crew come up with to try and stampede voters into the arms of the centre-right, such tactics can be rebutted with three simple words: “Genesis share float.” At a stroke, this should vaporise any claims that National is a better, more responsible manager of the economy, and a better steward of public assets.”

    http://gordoncampbell.scoop.co.nz/2014/03/14/gordon-campbell-on-the-genesis-share-float-debacle/

    every day we get another depressing reminder of what life outside of planet key is like

    • Colonial Viper 2.1

      Sorry your strategy won’t work because people don’t see any truly alternative and viable vision for the NZ economy being presented to them.

      • blue leopard (Get Lost GCSB Bill) 2.1.1

        @ CV

        I would have thought that the ‘people’ you refer to (I assume you are referring to the ones that say they intend to vote National in the polls) believe the false claims being repeated throughout the mainstream media sources ‘that National is a better, more responsible manager of the economy, and a better steward of public assets’.

        I would have therefore thought that Shorts suggestion was a fairly good one for counteracting these false claims.

        I am of the understanding that Labour ran the country in a more fiscally responsible manner when they were last in power – one that Key spoke loudly against when he was in opposition. where he criticised them for not spending more – Labour governed the country in a manner that led to more raises in the lowest incomes and invested in a manner that led to more jobs and opportunities. This place was a better, far more hopeful place to live in under Labour.

        Perhaps your comment was a request from Labour and Greens to speak more loudly to the public on what they intend to do? – this still doesn’t discount there being a lot of merit in Shorts suggestion.

      • David H 2.1.2

        and what if the dairy market goes south?

  3. Clemgeopin 3

    It is a shame that many people STILL support this evil and incompetent stupid government believing their spin, lies and BS hook line and sinker!

    • Enough is Enough 3.1

      It is a myth that people support this government or that is is popular.

      Don’t believe the polls, there is nothing at all accurate about them and they are paid for by entities that want the hard right government.

      I have no doubt that if everyone votes this yeat National will lose by a landslide. There is a real possibilty that the record set by English in 2002 will be beaten this time around.

  4. Colonial Viper 4

    And they say that National has the skills to handle the economy?

    I think E is E has it quite right. This isn’t about running the economy badly or well, this is about crony capitalism, and gifting strategic NZ infrastructure into foreign hands. It’s also the absolute opposite of what the old school conservative base of National wants to see done.

    Further, because Labour 5 kept the SOE structure for these generators, and beyond that insisted that they become very profitable (i.e. extracting large sums of money from ordinary communities), Labour painted a big privatisation bullseye on their foreheads.

    All National is doing is pulling the trigger.

    • shorts 4.1

      good point – and still much of the opposition parties use the revenue we could be earning from these profitable SOE’s as a justification for retaining ownership – never do they talk about offering a service back to the owners at the cheapest sustainable cost

      • Colonial Viper 4.1.1

        Opposition parties who posit that it is they (and not National) who can run corporate style capitalism the best have totally lost sight that we are in the last 20-30 years of fossil fueled, relatively stable climate, global civilisation which has been taken over by the billionaire class.

        It’s like arguing who can administer the bridge on the Titanic better as the compartments fill with water.

    • Lanthanide 4.2

      “Labour painted a big privatisation bullseye on their foreheads.”

      Yep. My BF pointed out (as I’ve posted here before), what Labour should have done is moved the power generators into the ownership of the Cullen fund. That way the dividend stream would go right into their pockets, it would allow the government to have more of an arms-length appearance in terms of “taxation-by-stealth”, guaranteed a continuing funding stream for the fund and made the political argument to sell them much more difficult.

  5. Steve Withers 5

    I’ve never expected National to look after the people of NZ. They are, after all, the “Multi-National 1% Party (NZ)”.

    This is easily seen by simply looking at what they DO….and who benefits.

    It certainly isn’t the people of NZ.

  6. thatguynz 6

    National absolutely have skills in running the economy MS – we all just incorrectly assume that they are running the economy for us, the people.

    Lets take their economic approach to its logical conclusion. What happens when we can no longer afford to service the debt on our governmental exposure? What will the IMF/WB/BiS be pushing for? Further asset sales? Greater involvement in NZ policy? Austerity? There is plenty of precedent for what comes next. The entire global economy is based on debt and the control that the ownership of that debt imbues them with.

  7. Skinny 7

    I am now of the belief we start talking about buying our assets back, less the ticket clipping. This was always going to be a failed ideological driven move.

    Reading this snake oil shows slippery at his best.

    http://i.stuff.co.nz/national/politics/4582922/John-Key-reveals-plan-for-asset-sales

  8. captain hook 8

    this is called paying off your mates with a parcel of dodgy shares so that you can take windfall earnings when the supply spikes.
    There is no market.
    Just an artificial creation by the tories to delude themselves and others into believeing that nothing is something.
    straight out of the milton friedman, ronald reagan,george bush playbook for ripping off the taxpayer in the name of de-regulation.
    what a crock of shit yet we still fall for it.
    When is someone going to do a proper analysis and kill this thing once and for all.

  9. Pete 9

    I’ve decided to create an image macro every day until the election. This will obviously be a hit and miss kind of thing (people don’t always get the references). Here’s today’s.

    Share and enjoy.

  10. Ad 10

    Personally it would be great if the state gave more oportunities to invest New Zealanders’ savings with them, but not for monopoly and lazy and conservative assets like generators, or sad returns like Treasury bonds.

    Whereas if NZSuper could propose something – for example an invitation to get directly into these alternative power generator companies in the US, or one of the Crown Research entity spinoffs – I am sure New Zealanders who could would be pretty enthuiastic.

    • PapaMike 10.1

      I would expect like all of the previous partial sales that all the Kiwisaver Accounts have substantial investments in these companies.
      Their expected return is about 7.5%, very much larger than bank term deposits of 4%
      If people do not like this they should tell their Kiwisaver Investment Managers, and see what they say.
      It was said yesterday that the NZ (hic) Banks are sitting on $150 billion of term deposits so there is plenty of investment money available.

      • Ad 10.1.1

        Yes of course on the Kiwisaver thing, but it would be good to identify where the state is heading and invest alongside it as well.

  11. Tracey 11

    this is odd. english said, as did key, that in good conditions these companies would reach higher sale value. yet this is both economic “good times” and a “rockstar economy” yet we havent got good prices per forecasts. stranfe indeed

    • Draco T Bastard 11.1

      It was never about getting a good price, it was always about dis-empowering the people of NZ by taking their assets and wealth away from them. This is how the rich are reinstating feudalism.

  12. Midas 12

    So to get the full cap of 2,000 bonus shares you’d need to buy 30,000 initially which at the top of the price range ($1.65) would require an initial investment of $49,500. Yay for the mums and dads of New Zealand who can write out a cheque for $49,500 just like that.

    Not, of course, that this was ever really about Kiwi mums and dads.

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  • MANA wants Te Reo Māori petition fulfilled
    Hone Harawira, MANA Leader and MP for Te Tai Tokerau Annette Sykes, MANA candidate for Waiariki Te Hāmua Nikora, MANA candidate for Ikaroa Rāwhiti  “More than four decades have passed and the petition calling for Te Reo Māori in schools...
    Mana | 14-09
  • Primary focus on the critical issues
    A Labour Government will prioritise New Zealand’s agricultural sectors by recreating a Rural Affairs Minister and appointing a Primary Industry Council and a Chief Agricultural Adviser. Releasing Labour’s Primary Sector and Rural Affairs policies today, spokesperson Damien O’Connor says the...
    Labour | 12-09
  • Maori Television fears confirmed – Harawira
    ...
    Mana | 12-09
  • More ghost houses from National
    The Government’s desperate pre-election announcement of more ghost houses won’t fool Aucklanders wanting action on the housing crisis, says Labour’s Housing spokesperson Phil Twyford. “These are ghost houses, to go with National’s ghost tax cut. Families cannot live in ghost...
    Labour | 12-09
  • National bows to union pressure over travel time
    National has reluctantly bowed to pressure from unions and adopted Labour’s fair and sensible policy to pay home support workers for the time they spend traveling between clients, Labour’s Associate Health spokesperson Iain Lees-Galloway says. “This decision is long overdue...
    Labour | 12-09
  • I feel sorry for Labour Party members and supporters
    I feel really sorry for the members and supporters of the Labour Party as they watch their caucus tear itself to shreds. And no matter what the outcome of the coming leadership race Labour members and supporters will be the...
    The Daily Blog | 01-10
  • Ummmm, why is Auckland Transport spying on Aucklanders?
    Ummm. What? Sophisticated surveillance coming to Auckland Surveillance technology that uses high definition cameras and software that can put names to faces and owners to cars is coming to Auckland. The surveillance has the capability to also scan social media...
    The Daily Blog | 01-10
  • It. Is. About. The. Economy. Stupid.
    Liam Dann does a good job of explaining the positive and negative issues looming for the NZ economy and as dairy prices plunge again overnight alongside a large Wall st sell off  and China Bank rumours begin, his case for the negative...
    The Daily Blog | 01-10
  • Don’t think of it as reinvading Iraq, think of it as redecorating Iraq
    I think some NZers view Iraq like an episode of The Block. Yes Iraq is the worst country on the street, but with a bit of elbow grease by our SAS and some great deals down at Bunnings, hey presto we...
    The Daily Blog | 01-10
  • GUEST BLOG: Joe Trinder – Mana Maori alliance
    Most Maori you speak to on the street can’t understand why Mana movement and  Maori Party don’t combine it confuses them why Maori are divided cross benches in Parliament instead of a unified political power that represents 15% of the...
    The Daily Blog | 01-10
  • Party members and affiliates – the real losers in Labour’s leadership f...
    Hey, wanna do a back room deal that cuts the members and affiliates out? Cunliffe must be reeling. He has lost failed Ilam candidate James Dann. It must cut as deep as the loss of Steve Gibson. Apart from providing Claire...
    The Daily Blog | 30-09
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today, the election res...
    Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today, the election result...
    The Daily Blog | 30-09
  • The rich get richer
    Nobel prize winner Paul Krugman highlights the growing inequality in this article in the New York Times. The left wing slogan that the “the rich get richer” is a fact of almost perverse power. The most recent period of expansion in the...
    The Daily Blog | 30-09
  • A brief word on reinvading Iraq
    So after telling the country before the election that NZ would not send forces to Iraq, lo and behold now he’s won the election with a full spectrum dominance political majority, Key is suddenly now looking to join the re-invasion of...
    The Daily Blog | 29-09
  • A brief word on the importance of ACT, Maori Party and United Future to Nat...
    I’m a far right wing clown who attacks tax money going on anything collective, gimmie some cash and privilege.  One of the great successes of National has been to implement hard right policy but have it sold as moderate. For some NZers,...
    The Daily Blog | 29-09
  • Labour’s Angst
    Was Labour’s predictably low vote David Cunliffe’s fault? Was it policy? Was it something else that has aroused perceptions of electoral carnage? My analysis of the numbers suggests that, as uncertain voters made up their minds, there was a late...
    The Daily Blog | 29-09
  • Information wars: Gaza as “the last taboo”, the threat of mass surveill...
    “When the truth is replaced with silence” wrote the soviet dissident Yevgeni Yevtushenko, “the silence is a lie.” There has been a silence these past months full of noise, static and sound bites of those in power justifying their violence,...
    The Daily Blog | 29-09
  • When the media say they covered Dirty Politics – did they?
    I was watching The Nation in the weekend, and watched the defenders of NZ media up against Minto telling him he was wrong in his claims of media bias and that the media covered Dirty Politics. I laughed. When the...
    The Daily Blog | 29-09
  • GUEST BLOG – P Campbell – To the Left with love
    A week after the general election results I feel wrung out emotionally, having been through the disappointment, depression and anger of seeing  another right wing government elected overwhelmingly by winning support from the parts of NZ that will never benefit...
    The Daily Blog | 29-09
  • GUEST BLOG: Kate Davis – I will be the new Labour Leader!
    One week after the election, while I was still waiting to be consulted about contributing to the review on what went wrong, what do you know? There is a leadership challenge. So instead of opting for a united, thoughtful and...
    The Daily Blog | 29-09
  • GUEST BLOG: Pat O’Dea – A Prescient Post
    A very prescient pre-election post by Martyn Bradbury tells us why the Labour Party are at war now. “The NZ First-Labour Party attack strategy against Internet MANA better work” Despite Martyn Bradbury warning them this Right Wing strategy “Better Work”...
    The Daily Blog | 29-09
  • GUEST BLOG: Curwen Rolinson – W(h)ither Labour (!/?)
    There’s an old saying that success has many fathers, but failure is an orphan. Not so in the Labour Party, wherein soul-crushing defeat on a scale unseen since 1925 definitely has many fathers (and more than a few mothers and...
    The Daily Blog | 29-09
  • At the end of the day…
    At the end of the day…...
    The Daily Blog | 29-09
  • Cynicism towards Key’s sudden desire to help children in poverty
    Cynicism towards Key’s sudden desire to help children in poverty...
    The Daily Blog | 28-09
  • Internet MANA the election and the media
    I’ve been very critical of media reporting of Internet MANA during the election campaign and not surprised at the predictable response from representatives of the corporate media establishment. I wasn’t going to carry this further but was asked at the...
    The Daily Blog | 28-09
  • GUEST BLOG: Rachel Jones – A superficial discourse analysis of a superfic...
    On Sunday there was a story about Paddy Gower and his detached retina in the Herald on Sunday. Really? I hear you ask. Really? Yes, really. Pam Corkery will have sprayed toast crumbs over her dressing gown. The reporter has become...
    The Daily Blog | 28-09
  • Terrorising Australia’s Muslim population
    We should be suspicious when 800 police conduct “terror” raids across Australia, but only one person is charged with a relevant terrorism offence (of which we know few details). We should be suspicious of the lurid tales of terrorists planning...
    The Daily Blog | 28-09
  • Another Labour leader has resigned and as per usual, the media lost its min...
    Another Labour leader has resigned and as per usual, the media lost its mind. I know the Labour party has its problems and I’m not even going to try to prescribe what should be done about it. But what I...
    The Daily Blog | 28-09
  • GUEST BLOG: Anjum Rahman – Loyalty, Leadership and the Labour Party
    My first after the election and I can only say I’m feeling pretty sad.  It was a terrible result, and feels even more so knowing the number of volunteers hours, hard work & sacrifice made by so many people who...
    The Daily Blog | 27-09
  • A Study in Party Stability
    . In terms of long-term stability, one party above stands above all others, with the exception of personality-driven groups such as NZ First and United Future. That party is the Greens. If the Labour Party wants to look elsewhere for...
    The Daily Blog | 27-09
  • Cunliffe vs Robertson – Round 2
    Much to the disappointment of the NZ Herald and other right wing pundits who have decided they would like to appoint the next Labour leader, Cunliffe has surprised by deciding to damn the Caucus and appeal directly to the members...
    The Daily Blog | 27-09
  • The tasks before the left and labour movement
    Anyone on the left would have been disappointed at the result of the election. There was an opportunity to win, but that got lost through a combination of factors. There were tactical decisions made by Labour, the Greens and Internet-Mana...
    The Daily Blog | 27-09
  • From Fiji’s dictatorship to ‘democracy’ – the AUT student team on t...
    Mads Anneberg’s profile on Ricardo Morris and Repúblika. David Robie also blogs at Café Pacific. THREE STUDENTS from AUT University covered Fiji’s historic “from dictatorship to democracy” general election this month. While the election arguably legitimised Voreqe Bainimarama’s so-called 2006...
    The Daily Blog | 27-09
  • David Cunliffe Resigns As Labour Leader – Forces Robertson Out of the Bel...
    David Cunliffe has made a smart move, resigning as the leader of the Labour Party so as to force a leadership primary campaign. The move draws rival Grant Robertson out of the beltway to parts of the country where he...
    The Daily Blog | 27-09
  • Deep thought vs Deep prejudice
    . . This letter to the editor appeared in The Listener, on 27 September, and caught my attention; . . Mr Dawson wrote in response to one of those typically unthinking comments which  condemned the poor for their “unbridled, reckless...
    The Daily Blog | 27-09
  • The NZ National voters elected
    The NZ National voters elected...
    The Daily Blog | 26-09
  • GUEST BLOG: Kate Davis – The post election postmortem is giving me post p...
    I feel the need to contribute to the discourse. This is a new experience for me. Not having an opinion, but expressing it on a popular forum in a public sphere. That’s why I have waited till now and put...
    The Daily Blog | 26-09
  • A dictionary of education terms and definitions, brought to you by the let...
    Free to all TDB readers, please enjoy your very own cut-out-and-keep handy primer of terms that I predict you will need to know over the next three years… Achievement Gap (noun) Synonym for wealth gap. ACT (abstract noun) Intangible. Reported to exist in...
    The Daily Blog | 26-09
  • A Mines Rescue brigadesman’s perspective on the Pike River Mine
    My husband and I lived in Greymouth in 2010, we were a coal mining family.  The day Pike River Mine blew up and the days following changed us profoundly, as it did for so many.  This is a Mines Rescue...
    The Daily Blog | 26-09
  • The Left Triumphant! A Counterfactual History of the Last Twelve Months.
    DID IT REALLY HAVE TO END LIKE THIS? Reading through the commentary threads of the left-wing blogs it is impossible to not feel the anger; the sense of betrayal; the impression of having had something vital ripped from their grasp;...
    The Daily Blog | 26-09
  • GUEST BLOG – Myles Thomas: The media won it!
    Make no mistake, John Key is a clever communicator – reasonable, authoritative and relaxed – but without the media he wouldn’t be PM. Depending on your viewpoint, New Zealand’s news media are either a bunch of Grey Lynn lefties or...
    The Daily Blog | 25-09
  • Not Learning Lessons Past: the West’s Response to IS
    In an earlier posting Ukraine, United Kingdom, Ireland, Scotland, I noted that the first lesson of conflict learned by Robert McNamara was “understand your adversary”. If we have honourable objectives, our first and most important weapon is empathy. In the Vietnam War,...
    The Daily Blog | 25-09
  • GUEST BLOG: Dr Jarrod Gilbert – Proof of David Farrar’s deception: my ...
    In the lead up to the election the Minister of Corrections Anne Tolley launched a gang policy. In order to justify the government’s approach she used gang figures that overstated the gang problem. Not by a little bit, but a...
    The Daily Blog | 25-09
  • SPECIAL FEATURE: Stuart Nash – Red To The Rescue?
    SPECIAL FEATURE by Selwyn Manning. IF THE ELECTION RESULT which was dished out to Labour was not enough to incite an immediate leadership primary, then the caucus’ refusal to recognise David Cunliffe as the leader should cement it. Now is...
    The Daily Blog | 25-09
  • Has the one party state crackdown begun already? Left wing NZ activist grou...
    Well known left wing activist social media group, ‘John Key Has Left Down NZ’ has been shut down on Facebook. At 11.40pm last night, Facebook, without any warning shut the group down siting a breach of terms of service as...
    The Daily Blog | 24-09
  • Why Cunliffe should probably just let Nash & Robertson win
    We have to face some very unpalatable home truths. If you are a left wing political person, best you put your vote now to the Green Party, although you’ll have to do that all the while the Greens frantically tell you...
    The Daily Blog | 24-09
  • The graceless win of Kelvin Davis
    The graceless win of Cameron Slater’s mate in the North, Kelvin Davis is difficult to swallow. Here Cameron Slater’s mate in the North is shitting on Hone Harawira by calling Hone all steam, no hangi as Kelvin rubs his ganged up win into...
    The Daily Blog | 24-09
  • So Labour shifted too far to the left?
    So Labour shifted too far to the left?   Here’s the ill-judged view of Josie Pagani in the Pundit “Labour must change”: “At the last election I made myself a heretic when I wrote a column mentioning how unpopular the...
    The Daily Blog | 24-09
  • Uncomplicated Loyalties: Why Cunliffe and the Labour Left Cannot Win
    THE STORY of David Cunliffe’s leadership of the Labour Party has been one of missed opportunities and unforced errors. That he was the only choice available to those who wanted to rid the Labour Party of its neoliberal cuckoos is...
    The Daily Blog | 24-09
  • So we can expect this now?
    So we can expect this now?...
    The Daily Blog | 23-09
  • Can Labour be saved? Why Whaleoil & National won and why we need a new ...
    As the shock of my optimism that NZers would recoil from the real John Key as exposed by Dirty Politics and mass surveillance duplicities wears off, I am surprised to find that the right in NZ are not content with...
    The Daily Blog | 23-09
  • Three more years (up shit creek and paddling hard)
    “If the future is not green, there is no future. If the future is not you, there is no future”. Emma Thompson’s stirring words to the climate marchers in London last Sunday are worth considering in the aftermath of the...
    The Daily Blog | 23-09
  • One Party State
    In years to come this election will be seen as a historic turning point towards one party rule. I don`t mean this literally, absolute single party dictatorship is not in prospect. In the New Zealand context though, one party has...
    The Daily Blog | 23-09
  • No More. The Left Falls.
    . We cannot be beaten down Because we are down already. We can only rise up and if you should beat us down, We will rise again. And again. And again… And when you tire of beating us down, We...
    The Daily Blog | 23-09
  • Hang tight everyone – Marama Davidson campaign reflection
    To the many people who had expressed their overwhelming support for me to enter Parliament this election – thank you. That the Greens held steady in a big loss for progressive politics is an achievement. We are hopeful that after...
    The Daily Blog | 22-09
  • Time to rethink police chases, says safety campaigner
    Police chases are dangerous and generally unnecessary, says the American Federal Bureau of Investigation....
    Scoop politics | 02-10
  • Robertson now expected to be Labour leader by Xmas
    Grant Robertson is now overwhelmingly picked to become the next leader of the Labour Party by the end of the year, according to the combined wisdom of the 8000+ registered traders on New Zealand’s predictions market, iPredict. Another potential Labour...
    Scoop politics | 01-10
  • Documenting historic Māori land law cases for the first time
    A new book from Victoria University of Wellington’s Faculty of Law will continue to put the spotlight on Māori Land Law judgments which have never before been published....
    Scoop politics | 01-10
  • ‘Oily’ people greet Petroleum Summit diners
    Greenpeace activists smeared in fake oil have greeted guests arriving at the part-Statoil sponsored Petroleum Summit dinner this evening....
    Scoop politics | 01-10
  • Key Decisions Made About Labour’s Leadership Election
    Labour’s New Zealand Council has made the key decisions about the timetable and process around the election of Labour’s Party Leader. The result will be announced on Tuesday 18th November, following a comprehensive and extensive process unique...
    Scoop politics | 01-10
  • Suspected $6 Million Dollar Wananga Fraud Alarming
    The Taxpayers’ Union is calling on on the Te Whare Wananga o Awanuiarangi to front up over claims the Wananga has pocketed government overpayments amounting to $6 million of taxpayers' money. Jordan Williams, Executive Director of the Taxpayers’ Union...
    Scoop politics | 01-10
  • Submissions sought on herbicide for weed control in maize
    The Environmental Protection Authority is calling for submissions on a herbicide to improve broadleaf weed control in maize. The substance CADET contains 100g fluthiacet-methyl in the form of an emulsifiable concentrate and would contain a new active ingredient...
    Scoop politics | 01-10
  • Jesse Mulligan Lives Below Poverty Line
    Jesse Mulligan Lives Below Poverty Line TV personality Jesse Mulligan will live on the equivalent of the extreme poverty line this October in order to raise awareness of sex trafficking. Mulligan will survive on $2.25 for his food from October...
    Scoop politics | 01-10
  • Narratives from the 2014 Election: What do we learn?
    Narratives from the 2014 Election: What do we learn? - Sue Bradford, Russell Brown & Kirk Serpes discuss....
    Scoop politics | 01-10
  • Voices from Oceania to speak out on climate change
    Voices from Oceania to speak out on climate change at launch of Pacific environment report...
    Scoop politics | 01-10
  • Changes to Pacific Tsunami Warning Centre messages
    The Ministry of Civil Defence & Emergency Management advises that while changes to Pacific Tsunami Warning Centre messages come into effect from today (Wednesday 1 October), the Ministry has been, and remains, the authoritative voice for tsunami...
    Scoop politics | 01-10
  • Police remove banner at Statoil Offices in Wellington
    Oil Free Wellington hung a banner at 9:30 this morning at the Statoil office headquarters in Wellington as the Petroleum Summit opened in Auckland. The banner, which read 'Statoil out of Northland: Stop Deep Sea Oil', has now been removed...
    Scoop politics | 01-10
  • Mixed massages raise concerns
    Mixed massages raise concerns for Te Taumata Kaumatua Ngapuhi nui tonu, and Te Wakaminenga O nga Hapu Ngapuhi....
    Scoop politics | 01-10
  • Union Slams Port Boss’s Pay Rise
    The Rail and Maritime Transport Union (RMTU) says Lyttelton Port CEO Peter Davie’s 18% wage rise, taking his pay packet to $1.24m, is unjustified and inflammatory. ‘Lyttelton port has an appalling health and safety record, with three deaths on...
    Scoop politics | 30-09
  • Prisons expert Ron Nikkel to speak in Auckland October 15
    Prison Fellowship NZ and JustSpeak have the privilege of hosting the former president of Prison Fellowship International, Ron Nikkel....
    Scoop politics | 30-09
  • Hundreds of educators protest IES in Rotorua
    Four hundred educators from around the country took their opposition to the Government's controversial Investing in Educational Success policy to the public today....
    Scoop politics | 30-09
  • Crime drops by 3.2 % in the 2013 / 2014 financial year
    Criminal offences dropped by 3.2 % in the last financial year according to figures released today through Statistics New Zealand....
    Scoop politics | 30-09
  • Narratives from the 2014 Election: what do we learn?
    I would like to invite you to a Fabians Reflection on "Dirty Politics, Dotcom and Labour’s worst result" with Colin James, Keith Ng, Stephanie Rodgers and Richard Harman. They will provide a debrief of analysis and lessons from the 2014...
    Scoop politics | 30-09
  • Oil Free Wellington drops banner from Statoil headquarters
    Today members of Oil Free Wellington have targeted the offices of Statoil, by attaching a banner reading 'Statoil out of Northland: Stop Deep Sea Oil' to the entrance of Vodafone on the Quay Midland Park, where Statoil's New Zealand office...
    Scoop politics | 30-09
  • Media Statement from Karen Price
    “After a period of intense media attention and scrutiny of our family, I set up and used an anonymous Twitter account over the weekend and made a number of comments that I deeply regret....
    Scoop politics | 30-09
  • Greenpeace disrupts Simon Bridges’ speech to oil industry
    Greenpeace activists have disrupted the opening speech by Energy and Resources Minister Simon Bridges at the Petroleum Summit in Auckland this morning....
    Scoop politics | 30-09
  • New Zealand Red Cross Responds to Drought in Tonga
    New Zealand Red Cross has sent an aid worker and two desalination units, to turn seawater into safe drinking water in the drought-hit Ha’apai islands of Tonga....
    Scoop politics | 30-09
  • Can you ever tell if an email is real or forged?
    Computer industry veteran Brian Eardley-Wilmot warns that we should never take claims about stolen emails at face value....
    Scoop politics | 30-09
  • NZ MPs to attend the ASPG Annual Conference in Sydney
    New Zealand MPs to attend the Australasian Study of Parliament Group Annual Conference in Sydney...
    Scoop politics | 30-09
  • Independent Maori seats still needed in Parliament
    “He’s got to be joking!” is the reaction of the president of the Maori Party, Rangimarie Naida Glavish to a call by a former Labour Minister of Maori Affairs, Dover Samuels, for debate by Maori on whether the Maori electorates...
    Scoop politics | 30-09
  • Support for Democratic Rights in Hong Kong
    Rallies supporting the rights for universal suffrage will take place all over New Zealand today and tomorrow...
    Scoop politics | 29-09
  • Trout Mass-Poisoned in New Zealand
    Trout Mass-Poisoned in New Zealand The Graf Boys New Zealand has some of the best trout fishing in the world! Every year thousands of international visitors wade pristine rivers in search of the freshwater game fish....
    Scoop politics | 29-09
  • New Zealand’s 2014 Hottest Vegetarians Crowned
    With winter gone things are heating up, and things just got even hotter with the crowning of New Zealand’s hottest vegetarians, says animal advocacy group SAFE. Marking World Vegetarian Day, 1st October, director James Napier Robertson and actor...
    Scoop politics | 29-09
  • A day to remember our duty to look after our senior citizens
    Human Rights Commissioner Dr Jackie Blue says International Day of the Older Person (1 October) is a United Nations day to celebrate our senior citizens, but also acknowledge the need to protect our kaumatua, or older people from abuse and...
    Scoop politics | 29-09
  • Clear data needed on impact of benefit sanctions on children
    A lack of data on benefit sanctions means there is no way of knowing whether welfare reform is helping or harming children, says Child Poverty Action Group....
    Scoop politics | 29-09
  • The socialist alternative to austerity and war
    Public meeting: After the New Zealand election—the socialist alternative to austerity and war By Tom Peters 29 September 2014...
    Scoop politics | 29-09
  • New recruits to boost border protection
    Twenty six new recruits began an intensive nine-week training course in Auckland today that will see them graduate as Customs officers in time for the busy summer season....
    Scoop politics | 29-09
  • Dwindling Mallard population shows up ‘pest’ myth
    The pro hunting organisation Fish & Game is researching the causes of the decline of the mallard duck population, upset at the prospect of fewer ducks to kill....
    Scoop politics | 29-09
  • Support for Democratic Rights in Hong Kong
    New Zealanders in Auckland will gather on Wednesday to support the rights for universal suffrage in Hong Kong....
    Scoop politics | 29-09
  • Campbell Live Exclusive Interview with David Cunliffe
    David Cunliffe resigned as leader of the Labour party on Saturday; but he still wants the top job....
    Scoop politics | 29-09
  • Action needed on cycling safety
    “Clearly we aren't doing enough to protect the 1.5 million New Zealanders who ride bikes,” said Mr Morgan....
    Scoop politics | 29-09
  • World Rivers Day Passes Without A Whimper
    Sunday 28 September was World Rivers Day to celebrate clean, flowing rivers and caring about them. But a recreation-conservation advocacy the Council of Outdoor Recreation Associations of NZ (CORANZ) says the day seems to have slipped by without...
    Scoop politics | 29-09
  • The Kiwifruit Claim: Q&A
    1. Who is running The Kiwifruit Claim? The Kiwifruit Claim was founded by kiwifruit growers representing well in excess of 10% of the industry. 2. Why are you running this claim? The introduction of Psa into New Zealand had devastating...
    Scoop politics | 29-09
  • Fed Farmers Need to Be Weaned
    The Taxpayers’ Union is calling on Federated Farmers to make a firm commitment to reject any future Government funding, after it was revealed that the lobby group had received over $200,000 of payments in recent years....
    Scoop politics | 29-09
  • Children paying the price for charter school stitch up
    New Zealand children will be paying a high price for a one-seat deal between ACT and National, with an expansion of the beleaguered charter school system says education union NZEI Te Riu Roa....
    Scoop politics | 29-09
  • Hikoi From North Reaches Oil Conference Tomorrow
    Today: The Hikoi opposing Statoil plans for seismic testing and deep sea oil drilling has marched through Dargaville and later be welcomed to Piringatahi Marae, West Harbour,Tamaki Makaurau/Auckland....
    Scoop politics | 29-09
  • Communities Still Count
    The efforts of many organisations to influence the electorate and the political parties they voted for in the lead up to the 2014 Election is over. The voting public has spoken and provided a strong endorsement to the centre-right National...
    Scoop politics | 29-09
  • Eleven social enterprises get ready to take off
    Eleven teams from across the country will take part in the Launchpad, Ākina’s programme to get social enterprise ideas off the ground....
    Scoop politics | 29-09
  • An open letter to the Prime Minister
    in which Transparency International New Zealand asks the Prime Minister to ensure integrity underpins all work he leads "in the best interests of all New Zealanders"...
    Scoop politics | 29-09
  • Paula Bennett ‘great work’ acknowledged – McVicar
    “Paula Bennett, as Minister of Social Development, has contributed significantly in lowering our crime rate and preventing further victims.” - McVicar...
    Scoop politics | 29-09
  • Key’s Restraint in Propping up ACT Welcomed
    The Taxpayers’ Union is welcoming the announcement that ACT MP David Seymour will not be appointed as a Minister....
    Scoop politics | 29-09
  • Only Concession is from the Taxpayer
    Responding to the confidence and supply agreement reached between John Key and Peter Dunne’s United Future Party, Taxpayers’ Union Executive Director Jordan Williams says:...
    Scoop politics | 29-09
  • A Tent for Any Tenant
    AUT students and Salvation Army Manukau Community Ministries team up to raise awareness, as South Auckland’s housing situation moves from crisis to collapse...
    Scoop politics | 28-09
  • Cycle Safety Panel Draft Report Seeks Comments
    The Cycle Safety Panel Draft Report and Recommendations was published on 25th September 2014 and the panel are inviting comments. Lucinda Rees from NZ School Speeds, the organisation campaigning for consistent speed limits outside schools, is encouraged...
    Scoop politics | 28-09
  • Labour’s Review – Terms of Reference Agreed
    Labour's Review - Terms of Reference Agreed Following a meeting of its ruling New Zealand Council yesterday, Labour has released the terms of reference for the comprehensive review initiated following its 2014 election result. The review will comprise three...
    Scoop politics | 28-09
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