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The Meridian flop

Written By: - Date published: 7:29 am, October 24th, 2013 - 143 comments
Categories: privatisation - Tags:

What a disaster. Meridian has attracted only a quarter of a the so-called ‘mum and dad’ investors expected (and these ‘ordinary Kiwis’ put in $18,000 each on average). The sale raised a $1.2 billion less than National thought it would. And the cost, which was meant to be $100-$120m for the entire sales process, is now over quarter of a billion after just two sales. You’ve got to tell National to stop.

National’s trying to blame it on Labour and the Greens because they did the right thing and informed the public of their plans for cheaper power before the asset sales started. But let’s just get this straight: the decision to sell was National’s. If they don’t think they’re getting the price that they should for the sales, then they should stop them.

NZ Power has been public for six months (and the public love it), blaming it and other market conditions for the terrible result of the Meridian sale is illogical. If things are that bad, don’t sell the bloody thing and save the taxpayer a pile of cash.

Speaking of cost, the Greens’ Costwatch puts the total cost of the sales process before Meridian at $173m. The ‘buy now, pay later’ scheme will add another $50m in what is basically an interest-free loan to the rich and institutions. On top of that, the middlemen will gobble up another $40m. That takes the total cost so far to over quarter of a billion dollars. The sales were meant to cost 2% of revenue – it’s 7%. And it will just get worse and worse as dividends get paid out that should have gone into the public coffers. Already, we’ve lost $49m on Mighty River’s first dividend.

You’re going to get your chance to send National a message in the coming referendum. Make sure they hear it loud and clear.

143 comments on “The Meridian flop”

  1. vto 1

    Clayton Cosgrove hit the nail on the head with his comment;

    “If John Key was working for a bank like Merrill Lynch and the taxpayers were his client then he would have advised them not to do it”

    John Key is selling us out.

    • Ray 1.1

      One thing you can divine from this is that the movers and shakers in NZ (ie the people with money and influence) can see a government change coming

      And they don’t like it!

      “Cause it means that it is going to be difficult to be such a mover and shaker, even if they can make more money

      • King Kong 1.1.1

        One thing you can be pretty sure of is that Governments in New Zealand always change.

        The fact that you seem surprised by this just shows what terrible regard you had for the political left.

        p.s. It might not be next term though

    • Tat Loo 1.2

      Actually Clayton is misguided in this regard. These big investment banks do not act in their clients interests. They 100% always act in their own interests.

      The advice to the client would have been “of course” proceed, as there is no way that Merrill Lynch would have given up on tens of millions of commission by advising them not to.

      Some stupid and illusory rational like the need to “maintain confidence” would have been used.

      That’s how this game works, that’s how these banks continue to make billions in profits even as the global economy is running aground.

      • BLiP 1.2.1

        “If John Key was working for a bank like Merrill Lynch and the taxpayers were his client then he would have advised them not to do it”

        More to the point, if John Key was working for Merrill Lynch and carried out an IPO like this on its behalf, he would be sacked on the spot and possibly made personally liable for the losses because of the cavalier disregard of his fiduciary obligations to those he worked for.

        • Tat Loo 1.2.1.1

          Fiduciary obligations? Boy those old fashioned concepts went out the window a long time ago at these investment banks…

    • King Kong 1.3

      If NZ was Merrill Lynch and JK was running it, Cosgrove would have had the security guard with the black bin bag clean out his desk and confiscate his building entry cards, a long time ago.

      • Hanswurst 1.3.1

        So you consider Key to be an authoritarian at heart?

      • Pascal's bookie 1.3.2

        What ever happened to Merrill Lynch anyway? Oh same thing as what happened to pretty much company Key worked for.

        • King Kong 1.3.2.1

          Wildly successful when he was with them and didn’t fair well when he wasn’t there.

          I guess this could be spun a different way.

          • thatguynz 1.3.2.1.1

            Bullshit. They weren’t “wildly successful” at all. They were pulling the same shit when he was there, as what finally caught up with them and broke the company. To suggest otherwise is either naive or deliberately disingenuous.

            • Draco T Bastard 1.3.2.1.1.1

              KK is just another authoritarian follower defending his leader against all charges no matter what the evidence shows.

              • Akldnut

                “Wildly successful when he was with them and didn’t fair well when he wasn’t there.
                I guess this could be spun a different way.”

                Rubbish – That’s “he was the Messiah spin ”

                I see it like “He bailed like a RAT on a sinking ship”

      • georgecom 1.3.3

        Kong. It wouldn’t just be Cosgrove accompanying the security guard as Key cleans out his desk and hands over his swipe card, they’d be a massive queue tagging along. Fortunately Keys desk will be cleared next year and the PM swipe card taken away from him. One big worry, how much damage he can do to NZ before then

    • Draco T Bastard 1.4

      John Key is selling us out.

      That was his job from the get go.

  2. Steve 2

    Since becoming PM John Key has been working tirelessly for his “clients”. The problem is that you, me and the majority of kiwis are not his “clients”. To find those you need to be mixing with the kleptocrats of the international investment banking world. Once you understand that it all begins to make sense.

    P.S. Perhaps Tony Ryall could solve Auckland’s housing shortage by building a new suburb out of all those unused MRP & Meridian share float docs. Could put it between Manurewa & Papakura and call it “Prospectus South”.

    • bad12 2.1

      Yes your onto it, the ‘part-sales’, designed in such a manner so as to placate Ma and Pa in the middle class have only failed in that sense alone,

      The long term goal of these people is to have all of such assets in the hands of the international Banking Cartels, moving the assets slowly over a decadal time-scale so as not to scare the horses with the cynical knowledge from these people that the young will quickly grow to be tomorrow’s adults viewing the private foreign ownership of such assets as ‘normal’,

      The unfortunate tragedy here is that while remaining locked into today’s primitive means of supplying money to the Government the current political parties of the left are unlikely to ‘buy’ back these assets which simply sets the stage for at some future point in time the other 50% of these assets disappearing from public ownership…

  3. Te Reo Putake 3

    I’d love to see Labour go to the polls on a policy of buying the looted shares back at cost or market rate, whichever is the lower figure. The payment to be made in installments over 10 years. No interest payable.

    That would effectively mean those that have opted to rip off NZ have, instead, loaned the state their money at 0%. That should take privatisation off the political agenda for a generation or more.

    • King Kong 3.1

      Of course hate and revenge are your main drivers when suggesting policy.

      Never mind the devastating repercussions this kind of thing would have. Nobody could ever enter a commercial transaction again without fear of the Government shitting on them. Nice.

      • Te Reo Putake 3.1.1

        It’s far from hate and revenge, KK, it’s restorative justice. If I wanted to really send the looters a message, I’d be suggesting criminal charges, but hitting them in the hip pocket should be punishment enough.

        • the pigman 3.1.1.1

          That’s a great idea, retrospectively legislate to make participating in a government asset sales program a crime, and lock those buggers up. (Think KK may be leading you down the garden path?)

          Although its suggestion that “Nobody could ever enter a commercial transaction again without fear of the Government shitting on them” is rubbish, because you can’t keep those capitalists from trying to capitalize.

        • David H 3.1.1.2

          More like Demanding Criminal Charges. And a going over of the crowns books by a forensic accountant, to expose for once and for all the shenanigans.

      • adam 3.1.2

        Wow KK you do understand that economics is politics by another name. And yes if your still embeded in zombie economics, it’s going to look bad – that is the politics of self interest – dressed as economics. But, we need a economy that works – zombie economics needs to be gone,if only because it’s stupid and outcomes become hellish – it can not be flexable and relies of a mythical idea of the “unseen hand” which is akin to fairy dust and gnomes at the end of the garden.

        • King Kong 3.1.2.1

          Let’s talk again when you have left high school, got a job and experienced the real world.

        • SpaceMonkey 3.1.2.2

          By “zombie economics” you mean neo-liberialism and crony capitalism?

          • King Kong 3.1.2.2.1

            No he means zombie economics. Things like scarcity equals the brain supply over infection rates and the elasticity of demand for canned goods when cannibalism is introduced in the supply chain and its knock on effects on increased infections.

            • Naturesong 3.1.2.2.1.1

              He was talking about neo-liberalism.

              Though you are partly right, bovine spongiform encephalopathy outbreaks are a direct result of placing profit above all else.

      • Murray Olsen 3.1.3

        The Koch family made a fortune dealing with Stalin’s Soviet Union, which had violated the sanctity of private property many, many times. It seems that capitalists, just like scabs, are prepared to let other considerations overwhelm their class solidarity. As usual with KKK, the shouting is at variance with historical fact.

    • Enough is Enough 3.2

      You say that like it is an unlikely dream.

      We should be demanding that from Labour as a central policy that they will implement within the first 100 days in office. Anything less is a sell out.

      Your suggestion is more than affordable so there is no reason not to do it.

      Please Labour. Talk is cheap. It is easy to oppose everything through bluster. But will you actually now have the conviction to reverse this disaster of a policy????

      Do not repeat the mistakes of the past two Labour Governments.

      • King Kong 3.2.1

        My God. Your inability to think through the consequences is frightening. Ask one of the “non crazy” left kids on here, who are conspicuous by their silence, what they think about this.

        • bad12 3.2.1.1

          What consequences are these???…

          • felix 3.2.1.1.1

            The consequences are that King Kong won’t vote for Labour O MY FUCKING GOD!!!!

          • King Kong 3.2.1.1.2

            I said one of the “non crazies”

            • mikesh 3.2.1.1.2.1

              King Kong
              You still haven’t answered Bad12′s question. What consequences?

              • bad12

                Don’t waste too much energy on KK that one has no intention of entering into any debate requiring anything more intelligent than a dribble of drivel,

                More fun can be extracted from other ‘wing-nuts’ although the numbers of them appearing here at the Standard seems to have plummeted much in line with National’s recent poll results…

                • King Kong

                  Honestly, I am wasting my time. It is like explaining a sunset to a blind man.

                  But here’s one to mull over. What do you think might happen if the Government was to take an action that would crash the value of all NZ’s listed and unlisted companies.

                  Now I know this is where the envy and vindictiveness gets the better of you but ask yourself this…

                  Would it only be the hated rich guys that would suffer or might there be horrible consequences for the other 99% (according to the popular myth).

                  • dv

                    KK
                    OH I get it, Like the US banks did in 2008.

                    • King Kong

                      Exactly.

                      And of course no one at the lower end of the socio economic scale lost their jobs or homes because of that, did they.

                  • Te Reo Putake

                    In that case, KK, I’d take the approach Bob Jones used in the 87 stockmarket crash. He bought back the shares in his own company dirt cheap and walked away laughing. Nationalise the lot, I say. When the dust settles, sell off the non-core businesses and bank the profits.

                  • McFlock

                    What do you think might happen if the Government was to take an action that would crash the value of all NZ’s listed and unlisted companies.

                    All that would happen is that the next time tories try to sell the family silver, they’d make an even bigger fuckup of it than they did this time.

                  • mikesh

                    “But here’s one to mull over. What do you think might happen if the Government was to take an action that would crash the value of all NZ’s listed and unlisted companies.”

                    A company’s value depends on its earning capacity. This would not change just because the government renationalized the electricity companies.

                    • King Kong

                      What do you think happens to the value of a company if there is a risk (and this is the key word) of it being nicked off you at some stage with no or low reimbursement.

                      And you can’t tell me it doesn’t apply because the precedent will have been set.

                    • King Kong

                      Lets follow that up with a real world example. Lets say that Shell and PDVSA (state owned Venezuelan oil company and victim of nationalization) are the same size and get the same return on the same amount of oil sold.

                      The Venezuelan govt decide that they would like to sell this company back into private ownership and PDVSA is listed on the same exchange as Shell.

                      Which company is valued significantly higher and why?

                    • McFlock

                      Lets follow that up with a real world example. Lets say that Shell and PDVSA (state owned Venezuelan oil company and victim of nationalization) are the same size and get the same return on the same amount of oil sold.

                      The Venezuelan govt decide that they would like to sell this company back into private ownership and PDVSA is listed on the same exchange as Shell.

                      Are you saying that renationalisation is a bad idea because it would lower the income that might be gained via future re-privatisation?

                      A hidden bonus to renationalisation, from my point of view.

                    • King Kong

                      No I’m not. But of course you knew that.

                    • McFlock

                      then why the comparison value between two companies that are identical apart from one being privatised, renationalised, and is then on the privatisation block again?

                    • King Kong

                      To show what effect the spectre of nationalisation has on the value of a company.

                    • lprent []

                      Actually no. It is the spectre of the government regulating an infrastructure industry in a semi-monopolistic position in the economy. All of sudden the scavengers found the prospects for easy monopolistic profits diminished.

                      Nationalisation is all in your delusional fantasies.

                    • McFlock

                      Lowers the value of the company, do you reckon?

                    • King Kong

                      I know. We just saw it with the Meridian float.

                      $1.2bn in destroyed value as the Greens so gleefully confirm.

                    • lprent []

                      Yeah, National destroyed it by being a pack of moronic fools. The Greens are quite correct on that.

                    • McFlock

                      indeed.
                      So lower expected value means a lower return to the government from reprivatisation?

                    • King Kong

                      I think you have gone a bit chicken and egg on me.

                      Why not remove the threat of Nationalisation and bank another yard.

                    • McFlock

                      Why not remove the threat of Nationalisation and bank another yard.

                      because privatisation is a bloody stupid course of action that costs us billions over the medium and longer terms. The country gains a “yard” of beach space that is quickly eroded by lost income and lost governance.

                      Lowering the short term returns of privatisation makes it less likely.

                      That’s another reason why renationalisation is a good idea. Another nail in the coffin of me-ist neoliberalism.

                  • bad12

                    So for ‘consequences’ we can only take it that as you have made ‘stupid shit up’* as a reply to what these consequences supposedly are then your original view of said consequences was also stupid shit you had just made up,

                    * Stupid made up shit by you= ”what do you think might happen if the Government was to take action that would crash the value of all NZ’s listed and unlisted companies”,

                    Simply put, having no answer to your original stupidity you change the subject by doubling the stupidity…

                    • King Kong

                      I guess that is the closest thing to a concession that I can expect.

                    • bad12

                      Yes KK, i concede, that you are stupidly and with the actions of a simpleton attempting to divert the Post off into the fantasy realm in which you reside…

                  • But here’s one to mull over. What do you think might happen if the Government was to take an action that would crash the value of all NZ’s listed and unlisted companies.

                    That’s actually an interesting point, but perhaps not in the way you meant.

                    Of course, it would be unlikely that investors would assume from a ‘buy back’ of state assets that there would be wholesale government purchase of companies that were listed on the exchange and which had arisen from the private sector.

                    That’s because a Labour/Green ‘buy back’ is just that – a buy back of assets the state recently owned. It is not a buy out of firms on the stock exchange that arose from the private sector. So investors would be irrational if they pulled out of listed companies.

                    But the odd thing about New Zealand’s stock exchange is that it is dominated by ex-state sector assets rather than private sector entities. So, maybe there’s something in what you say.

                    The ‘kicker’ in that insight, however, is only because the stock exchange (and, presumably, the private sector as a whole) does not seem to be able to generate or nurture private sector entities as viable and profitable as ones that originated in the public sector.

                    Not a good look from the point of view of supporters of private enterprise, I would have thought.

                    Oh, and why would unlisted companies suffer?

                  • felix

                    Oh KK.

                    You had me at “sunset”.

              • halfcrown

                “What consequences?”

                Like when in 89 Air New Zealand was “privatised” and the major share holding was bought by Briely Investments. We were told that it had to be privatised otherwise in a decade it would be a third rate operator with debts of 500 million. After a decade of privatisation, and bungy jumping by the spivs in 2001 the then Clark government had to re nationalise Air New Zealand as it was a third rate operator with debts of 880 million

            • Draco T Bastard 3.2.1.1.2.3

              Yep, I’m keen to know what these consequences will be too.

            • Naturesong 3.2.1.1.2.4

              I tend toward the left, and am considered by my family, friends and work colleague to be not-crazy.

              a policy of buying the looted shares back at cost or market rate, whichever is the lower figure

              … is not going to work, mainly because the fault does not lie with those who bought shares, but with the idiots running the government. Just as you would not blame vultures for the murder of the corpse they were feeding upon.

              Much better to have the Cullen fund slowly buy back all the shares at market price, when that market price is at or below the initial ipo price.
              Then have the Cullen fund sell them back to the government at cost, at which point they can be changed back to being a public utility (cost plus pricing model) instead of a SOE which must return a profit based on the valuation of the assets.

              I’d like to see that with all similar infrastructure (critical to the nation, natural monopoly).
              Chorus is an obvious choice as well.
              As is removing the infrastructure (track mainly) from NZ Rail so the planning focus changes from what is profitable to NZ Rails books to what profits New Zealand as a whole; the closure of the Napier – Gisborne line being a good example of what is good for NZ Rails books is definately not in the public interest.

              • Tat Loo

                You can take steps to gradually depress the share price as well. Like capping the profits that the generators can make.

                • Naturesong

                  Yup

                  I would suggest the market not be depressed too much though, lest the Labour / Green govt be seen to be vindictive.
                  Keeping it at ipo level is fine.
                  Investors come away with their dividends and no loss of capital, and focus is rightly kept on the wankers that sold them off in the first place.

              • Draco T Bastard

                None of that make sense. All you’re saying is that the Cullen fund should buy the shares back slowly over time which would cost us more in lost dividends.

                Much better to have the Cullen fund slowly buy back all the shares at market price, when that market price is at or below the initial ipo price.

                The shares are already below IPO and the government can legislate the entire buyback at the current share price.

                • Naturesong

                  I’d agree with simply buying back the lot if they remained at below ipo level.
                  I’m not concerned about lost revenues for a year or two. Remember that NZ Power is designed to keep them from getting out of hand.
                  And all blame for lost revenues can be rightly placed at the feet of the National Party

        • Enough is Enough 3.2.1.2

          I will admit I have this inabilty you speak of.

          Please advise us of these consequences, other than some rich pricks being left a little bit out of pocket, and the nations wealth being returned to its rightful owners!!!!!!!!!!!

        • Rogue Trooper 3.2.1.3

          “crazy” is in da house!

    • Chooky 3.3

      Te Reo Putake….+100

    • Draco T Bastard 3.4

      +111

    • Murray Olsen 3.5

      I’d nationalise the generation companies without compensation, with the following observations:

      1. Anyone caught buying stolen goods has them confiscated. Whether they are bought on the stock exchange or out the back of the pub should not make a difference.

      2. Anyone who wants to get richer from increased prices so that they make a few bucks every time a poor kid catches rheumatic fever deserves nothing.

    • dave 3.6

      far better to introduce nz power destroy the share price then buy them back

  4. Philgwellington Wellington 4

    Xox
    Like your thinking Te Reo. That would stir the pot! Just read some nonsense from a Jamie
    White, in The Herald, proposing
    economic mumbo jumbo. The
    tory’s must be getting desperate to seek out this economic tripe from a Cambridge, I think the appropriate term is educated(?) economist RWNJ. Have a read and a good laugh.

  5. Will@Welly 5

    I signed up to buy shares in Mighty River Power just to get the Tories all enthusiastic, but with no intention of buying. With Meridian, I didn’t even bother. Publicly they will never admit defeat, but gee, talk about the proverbial hitting the fan – this is real egg on the face. First, the mum’s and dad’s don’t really show up – how can they, they don’t have the dosh – then the share prices plummet, and in the second float, no one turns up. What mugs – creditability lost. Let’s hope the people remember.

  6. lez howard 6

    The problem is the People have said NO to Asset sales But National is not listening. When was the last time National had three terms?

    • Tat Loo 6.1

      1990-1999 Bolger and Shipley

      National has always had at least 3 terms in power, since it’s formation.

      If Key takes the Blue ship down in 2014, it will be a historic, record breaking 2 term defeat for National.

      • Richard Christie 6.1.1

        2 terms only … of course, the MMP environment would also to have considerable bearing on such a result, would it not?

        • Rogue Trooper 6.1.1.1

          pleasantly so

        • Puddleglum 6.1.1.2

          Yes, since Muldoon would have probably been only one term if MMP had been around then (depending on who Social Credit would have gone with).

          • Puddleglum 6.1.1.2.1

            In fact, if both Social Credit and Values had coalesced with Labour in 1975, Muldoon would never have been in government. Probably unlikely given the public – and media – mood, though.

        • Tat Loo 6.1.1.3

          Yes it would have a bearing. However both the Clark govt and the Bolger/Shipley gov were both 3 term governments under MMP (although the latter was only partly under MMP).

          So 3 terms is very do-able on the MMP environment.

          • BrucetheMoose 6.1.1.3.1

            The only thing I remember from that era was Bolger’s anesthetising personality and Jenny’s grand pastel suits, that for some odd reason, always gave me the impression they were made with cardboard backing.

        • felix 6.1.1.4

          “2 terms only … of course, the MMP environment would also to have considerable bearing on such a result, would it not?”

          Indeed Richard, if Key fails in 2014 his will be the first ever MMP govt of either stripe to not win a third term.

  7. lez howard 7

    Thanks for that, Lets hope its with all hands

  8. Natwest 8

    Hang on! – they got the float away, $1.9bn – so where is the flop? They were probably looking around $1.55 to $1.60 per share, but with all the political threats from the left, $1.50 was a very good result under the circumstances.

    • Te Reo Putake 8.1

      Read the post, the answers are there. In summary, sold for less than value, to very few kiwis, and sales costs higher than budget.

    • framu 8.2

      “The sale raised a $1.2 billion less than National thought it would.”

      theres the flop you idiot

      • Richard Christie 8.2.1

        No, the object wasn’t to raise capital, that was merely the excuse given. The object was, and always has been, to transfer control away from the commons.

        Nats consider it a success because it is concluded. Considerable success.

        The rest of us can scream as much as we like, they will just smirk.

        • Puddleglum 8.2.1.1

          Sadly, I think that’s true.

          This is not about the fiscal management of the government’s books; it’s about ideology – or, better, it’s about undermining the presence of the public sector as a buffer against private profit for major players from essential public infrastructure.

    • QoT 8.3

      “political threats”

      You mean “being open about their policies”? It’s not Labour and the Greens’ fault that investors know they’re going to win in 2014.

  9. dv 9

    Just a point about the NATS excuse that the proposed NZPower caused the problems.

    All that really highlighted was the political risk in the market, what the Nats didn’t do very well is manage that risk.
    The drop in the MR share price will not have helped.

    It will be interesting to see if the Meridian price shows the same trend.

  10. Draco T Bastard 10

    The sale raised a $1.2 billion less than National thought it would.

    Well, there goes the 2014 surplus that National was banking on.

  11. AmaKiwi 11

    A digression, but perhaps helpful.

    I was in Turkey. Petrol was $8 a liter. Why so expensive, especially since Turkey borders on two of the world’s largest oil producers, Iraq and Iran?

    Turkey has a growing middle class whose standard of living is comparable to NZ. But it also has a significant number of rural subsistence farmers who have no power, no indoor plumbing, no cars, and probably no bank accounts.

    The petrol tax is a Turkish alternative to income taxes. If you are rich enough to own a car you should pay to support all public services.

    When our government owned all the power companies, it also effectively set the power prices. It could have increased power prices ten fold and done away with other major forms of taxation. Or it could have cut power prices to virtually nil and upped other taxes. Power prices were a source of government revenue similar to taxes.

    For Key and others to think we would turn over pricing of this essential monopoly to private owners so they could make huge profits for themselves was wishful thinking. For them to complain is the height of arrogance.

    • Draco T Bastard 11.1

      For Key and others to think we would turn over pricing of this essential monopoly to private owners so they could make huge profits for themselves was wishful thinking.

      Key and co don’t care about what we want, they only care about themselves and their rich mates making government guaranteed profits.

  12. vto 12

    Dontcha get the feeling that John Key is walking around with embarrassment today at such a flop?

    You see, he aint gonna get there is he. He is going to stall and fart just before he reaches the peak and tumble in full view al the way back to the valley floor of the commoners… It has already started.

    • Draco T Bastard 12.1

      Dontcha get the feeling that John Key is walking around with embarrassment today at such a flop?

      Psychopaths don’t feel embarrassment or guilt.

      • Naturesong 12.1.1

        If you plug in answers to this levinson test that are consistant with John Keys public persona he rates higher for primary pschopathy than 98% who have taken the test.
        http://personality-testing.info/tests/LSRP.php

        • King Kong 12.1.1.1

          I started plugging in details about what is publicly known about Cunliffe into this one Narcissist test

          Unfortunately the internet blew up before I got to the end

          He scored scarily high in this one too Are you a pedophile?

          [lprent: More likely you were projecting your own character on to the screen since you don't know actually know him personally. That is usually what happens under those circumstances. The screen becomes your mirror as you project the worst of your own nature on to your enemies.

          It wouldn't surprise me at all. ]

          • vto 12.1.1.1.1

            missed… you need to sharpen your aim and improve your humour

          • King Kong 12.1.1.1.2

            So you would have the same opinion of those on here that call John Key a psychopath using the same method?

            [lprent: Mere opinion doesn't interest me. But I tend to notice linked pseudo-science crap like that when I'm doing moderation sweeps. But yes the same principle applies. Why I'm interested as a moderator is because it falls under the flamewar starter where people start claiming pseudo-authority from their subjective entering of characteristics. ]

            • Chooky 12.1.1.1.2.1

              @ King Kong….I think John Key is going to buy up all the power companies and stuff them into his own private blind trust handbag

              ….he is really an octopus who has got his finger suckers into everything and he is going to gobble NZ up

  13. captain hook 13

    check the share register and see who got paid off.

  14. Nick 14

    “National’s trying to blame it on Labour and the Greens because they did the right thing and informed the public of their plans for cheaper power before the asset sales started. But let’s just get this straight: the decision to sell was National’s. If they don’t think they’re getting the price that they should for the sales, then they should stop them.”

    Let’s change the context of the Green Party talking points

    Democracts are trying to blame it on House Republicans because they did the right thing and informed the public of their plans to defund Obamacare before the government shutdown started. But let’s just get this straight: the decision to vote against spending bills was Senate Democrats. If they don’t think the government should have shut down, then they should have voted for the Republicans spending bills.

    In other words, it doesn’t matter who makes the final decision. National ran on a platform of partial privitisation. Labour stuck the knife in knowing full well that National wouldn’t change its mind. And this policy was all about the sabotage. I don’t believe that Labour/Greens genuinely thought think this policy is a good idea, no one with any credibility takes it seriously http://www.scoop.co.nz/stories/BU1308/S00083/labour-greens-power-policy-is-bass-ackwards-wolak-says.htm

    • richard 14.1

      Try to do some research before going off half cocked and repeating half truths.

      Frank Wolak was on the Market Surveillance Committee of the California Independent System Operator which bought about the conditions for Enron to grossly overcharge for California’s electricity. So he is hardly a credible analyst of NZ’s electricity market –
      - http://www.pbs.org/wgbh/pages/frontline/shows/blackout/interviews/wolak.html

      As NZ has a fetish for overseas experts, no matter how flawed they are, The Commerce Commission asked him to look at NZ’s power setup. In 2009 he did this report report for the Commerce Commission. I know, there’s a lot of reading there, so here’s a bit from the Commission’s press release:

      By comparing the actual wholesale prices with hypothetical competitive benchmark prices, Professor Wolak estimated that the wholesale prices charged over the period 2001 to mid-2007 resulted in an extra $4.3 billion in earnings to all generators over those that they would have earned under competitive conditions. This suggests that wholesale prices were, on average, 18 per cent higher than they would have been if the wholesale market had been more competitive, and the gentailers had not been able to exert market power. Less competition was especially evident in the wholesale market during the dry years of 2001 and 2003, when additional earnings attributable to the exercise of market power are estimated at $1.5 billion in each of those years.

    • Draco T Bastard 14.2

      I don’t believe that Labour/Greens genuinely thought think this policy is a good idea, no one with any credibility takes it seriously

      Actually, it’s only the sociopathic types that don’t take it seriously. The people who believe in Randian Super-Heroes.

      • McFlock 14.2.1

        The sort of people who blame the other side for calling their bluff, rather than taking responsibility for the game of brinkmanship that they themselves started.

        Especially when they go through all of that and still give the other side it’s initial asking position for lack of an understanding of the word “negotiation”.

    • Murray Olsen 14.3

      Please take your TeaBagger type rubbish elsewhere. Your scenario suggests that the opposition’s only responsibility is to cheer the government on.

    • Pascal's bookie 14.4

      In other words, it doesn’t matter who makes the final decision. National ran on a platform of partial privitisation. Labour stuck the knife in knowing full well that National wouldn’t change its mind.

      Laugh.

      Once again, the classic right wing version of personal responsibility, where it’s all every one else’s fault. National simply had no choices. Oh Noes, they lost the ability to make decisions! They turned into mechanical beasties!

      there was nothing, repeat, nothing, stopping John key making a speech along the lines of::

      “Ok this L/G policy changes things. We don’t like it and we think it is stupid, but the polls say a lot of you like it.

      And they show that a L/G govt is quite possible by the end of next year. Now that creates uncertainty about the future value of these companies. The responsible thing to do therefore, as we see it, is to go to the country and let you make your choice.

      We were elected on a policy of partially selling these companies. That is what we think the best thing is to do. We stand by that belief still.

      However, given the uncertainty, the price the Crown gets for these assets would be diminished.

      We are not prepared to waste that money. We think L/G are not serious about this policy and that it is aimed at sabotaging the price for political reasons. We find that abhorrent, and irresponsible, and that’s why we are giving you the choice. Vote for us again, to do what we said we would do, or vote for them and their wacky stalinist devilbeast.”

      It’s not the Greens or Labour’s fault he didn’t say that. It’s his fault. His choice.

      But he didn’t make that choice. Coz the MOM policy is a dog and everyone knows it. It’s a half arsed privatisation riddled with political considerations that reduce the price the Crown gets and dilute whatever slim benefits there are to be gained from moving away from an SOE model. He knows what would happen if he went to the country, and wants to makes sure he at least gets these sales done before he gets thrown out. It’s the stupidest sort of ideology driven process imaginable.

      And it is nothing like the US situation. There are no legislative roadblocks here. there is just a policy that a lot of voters apparently like and is quite possibly going to become the law.

  15. chris73 15

    At worst Labour will buy back the shares at the price they were sold at which means I’ll lose 2/5 of f all plus I’ll get some dividends in the bargain and it’ll take some time for them to work out to do it so its all good

    At best Cunliffe will use his previous weasle words to say why the buy back won’t happen and then the share prices go up because there’ll be certainty

    Of course this can only come to pass if Labour manage to form the next govt

    So all in all its going to be exciting for the next wee while :)

    • ScottGN 15.1

      Except that Labour and the Greens will most likely just enact the NZ power policy they’ve already outlined which, if Mr English is to be believed will further depress the share prices the energy companies can command. Interesting too to see that former British Conservative PM John Major has urged current PM Cameron to regulate and tax the super profits being generated by energy companies in the UK. Maybe we should look at that here as well.

      • chris73 15.1.1

        “Except that Labour and the Greens will most likely just enact the NZ power policy they’ve already outlined”

        - I’m not disagreeing with you (unless Cunliffe realises he can’t do it but thats a different issue) just that I don’t think it’ll happen as quickly as people on here would like it to

        • Tat Loo 15.1.1.1

          Agreed; I can’t see NZ Power coming into consumer affect until Q4 2015 or Q1 2016, at the earliest. There would

    • BM 15.2

      If Cunners ruled that the shares will be repatriated,I’d actually say you’d do quite well

      He may utter the words of some deranged mad man but the fork tonged rich prick from Herne bay knows how the game works.

      Repatriate the shares with no compensation and money will flee the country faster than water going down a plug hole, so to placate the foreign investors the shares will be brought back at something like $3.00 a piece.

      Sucks for the tax payer but great for the share holder, you’d be mad not to buy as many shares as you can.

      • chris73 15.2.1

        I don’t know it’ll be that generous (it’d be nice) but I imagine that the quickest way to make sure that foreign capital doesn’t invest here is to take overseas share holders shares without fair recompense I mean if Labour did that why would an overseas company invest here…

      • Murray Olsen 15.2.2

        But weren’t they all sold to Kiwi mum and dad investors? Where did all these foreign investors come from, and why do they have other money hard at work exploiting us? Did Key tell porkies?

  16. Dumrse 16

    Treasonous talk of nationalisation has cost the country billions. Cuntliffe won’t repatriate shares, he’s not that stupid.

    • Draco T Bastard 16.2

      It’s actually selling the assets against the will of the country that is treasonous.

      • Dumrse 16.2.1

        So it’s just a pissing competition to see who was treasonous first. Let’s start here… Something that’s not hard to find.

        Labour sold a total of 15 assets…….

        What this shows is that National have acted entirely properly with their partial asset sales, and in fact it was Labour that did everything they accuse National of doing.

        There’s politicking and there’s just fucking dribble…..

        • richard 16.2.1.1

          Zzzz

        • Draco T Bastard 16.2.1.2

          And the RWNJ comes back with the <Labour did it toooo whinge. Yes, Labour did it too and they were just as wrong.

          What this shows is that National have acted entirely properly with their partial asset sales, and in fact it was Labour that did everything they accuse National of doing.

          Didn’t you teachers ever teach you that two wrongs don’t make a right?

          BTW, I’m not a Labour supporter.

        • thatguynz 16.2.1.3

          You’re a fucking muppet, in fact – clearly you picked your nom de plume well.. I challenge you to find one post on this site indicating support for Rogernomics (which is precisely the basis for your argument).. Shouldn’t be too hard right?

  17. Gruntie 17

    John Key is a cunt

  18. finbar 18

    Understand capitalism.Dump cash on that for the next while get a few bucks,look they are selling for 6 50,look how much business has been around them,got to get some of them,short term profit there.Who!s this 1 60,be dead by the time they pay me a return.No like the 6 50 one its playing and might return a buck.

    Ain!t the capitalist mind a conundrum of profit, never mind the cost on the producer.

  19. Outofbed 19

    The Brits sold of power cos they said it would be cheap competitive power for all
    what happened?
    http://www.theguardian.com/politics/2013/oct/23/sketch-major-marxist
    Seems like old people freeze in the winter unable to afford heating whilst profits soar

  20. Ross 20

    +1 Dracos right
    Tory treason alright. Sale irrationally driven by greed and pig headed mess. Selling an asset that should never have been fir sale, and at far below its true market value is the real destruction of value here. Basically reckless trading. Hmm That’s familiar.

    The people said no ,were ignored, and did a no show for the ipo. And thats on the back of the MRP epic fail many months earlier.

    Watch out for a desperate early election call as it all turns to shit for Quiche and the Nats….actually it already has.

    Bring on 2014

    • Draco T Bastard 20.1

      Watch out for a desperate early election call as it all turns to shit for Quiche and the Nats

      Nope, won’t get one. The Nats will hold the election on the last possible date so that they can continue to give our wealth to their rich mates.

  21. Bruce 21

    And yet again we have another Dumb and Dumber moment. Right wing: We have done it your way for at least the last twenty-three years. Stop selling our assets. You’re selfish just admit it.
    Your policies send Kiwis to Australia, and worse you campaign to stem the flow or bring them back.

    • Tat Loo 21.1

      1984 to 2013…29 years now…lots of young adults have only known a NZ post-Rogernomics, post-Ruthanasia.

      The gift to our young from today’s middle aged voters.

  22. Ad 22

    God this last sale makes me really angry.

    So many decades of tax gone into that asset from millions of people, to be sold to a crowd that would hardly fill the stand of the Gisborne Rugby ground.

    I simply want a competent government.

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  • Regional economies need tailored plans
    News that up to 114 jobs could be lost from Fonterra’s Canpac plant in Hamilton reinforces the need for a government plan to build resilient regional economies, Labour’s MP for Hauraki-Waikato Nanaia Mahuta says. “The Canpac site has effectively responded...
    Labour | 25-07
  • Kiwis to get the final vote on amalgamation
    New Zealanders will get the right to have a final say on any proposed local body amalgamations, says Labour’s local government spokesperson Su’a William Sio releasing Labour’s Local Government policy today....
    Labour | 24-07
  • Dr Rajen Prasad’s Valedictory Statement
    Draft Hansard Parliamentary Record. Subject to correction. Bula vinaka. Namaste, Mr Assistant Speaker. Thank you very much. Tēnā koe. I am a lucky migrant and am privileged to have received as much as I have from this country for over...
    Labour | 24-07
  • Darien Fenton’s Valedictory Statement
    Nga mihi nui - kia koutou. I acknowledge all Members of Parliament I have served with and I do so without rancour or criticism. Over nearly nine years in parliament I’ve found that despite furious debate about political difference, most...
    Labour | 24-07
  • Immigation and Kim Dotcom – Harawira
    “I just got a call from National Business Review reporter, asking whether there was any contradiction between my thoughts on immigration in 2009 and now, particularly given MANA’s newly minted relationship with Kim Dotcom” said MANA leader and Tai Tokerau...
    Mana | 24-07
  • Nats to announce 2nd crossing without rail
    Labour Transport spokesperson Phil Twyford says it has been leaked to him that John Key will rule out a rail option when announcing an accelerated timeframe for Auckland’s $5 billion second harbour crossing next month. “I understand the Government’s plan...
    Labour | 24-07
  • “They put Maori centre stage” – Harawira
    “I’m sorry I can’t be at parliament for the valedictory speeches of Tariana Turia and Pita Sharples” said Hone Harawira, MANA Leader and MP for Tai Tokerau, ”but I’d like to add my own best wishes as they reach the end...
    Mana | 24-07
  • ACT trying to have it both ways on zoning
    ACT Party candidate David Seymour’s campaign against changes to school zones in the Epsom electorate looks hollow given his party’s commitment to the abolition of school zoning altogether, Labour’s Education spokesperson Chris Hipkins says. “It’s disingenuous for David Seymour to...
    Labour | 24-07
  • Interest rate rise will hit the regions
    The latest interest rate rise will hit the fragile regional economies of  New Zealand and hurt exporters by putting more upward pressure on the exchange rate, says Labour’s Finance spokesperson David Parker.  “The regions are already hit by dropping  export...
    Labour | 24-07
  • Burning the flag or accepting the evil
    Burning the Israeli flag in Auckland in protest over the murder of innocent civilians in Gaza is nothing to be ashamed of” said MANA Leader and Tai Tokerau MP, Hone Harawira. “Calling for both sides to stand down when one side...
    Mana | 23-07
  • Photo op disguises abysmal failure
    John Key’s opening of four Housing NZ units in Bexley today is nothing more than an insincere photo op designed to hide the Government’s failure to rebuild the housing stock destroyed by the earthquakes, says Labour’s Associate Housing spokesperson Poto...
    Labour | 23-07
  • TAXPAYER UNION “outrageously stupid”
    Jordan Williams, Executive Director of the Taxpayers’ Union says a MANA billboard “appears to have been funded by taxpayers”, and calls it “an outrageous use of taxpayer money”. “But the only thing that is outrageous, is how outrageously stupid Jordan Williams was...
    Mana | 23-07
  • Green Party launches Solar in Schools policy
    The Green Party will help schools install solar and save money on their power bills by investing $20 million into solar PV systems in schools. The $20 million is expected to:Help around 500 schools install solar over three yearsResult in...
    Greens | 23-07
  • Extent of job losses at Invermay remain hidden
    Despite growing concern in the agriculture and science sectors, both AgResearch management and the Minister responsible are continuing to hide the true extent of job losses at AgResearch’s Invermay campus, Labour’s MP for Dunedin North David Clark says. “Science and...
    Labour | 23-07
  • Tōku reo, tōku oho oho, tōku reo, tōku mapihi maurea – MANA launches ...
    “MANA is launching its te reo Māori policy this morning ahead of the first reading of the government’s Māori Language Strategy Bill this afternoon”, saidMANA deputy leader and candidate for Waiariki, Annette Sykes. “MANA’s policy is based on a love...
    Mana | 23-07
  • Connectivity Upgrade to close digital divide
    Labour will close the digital divide with its Connectivity Upgrade to ensure all New Zealanders can be part of a growing, more connected economy and have the right to access quality broadband, Labour Leader David Cunliffe says.  “The digital revolution...
    Labour | 23-07
  • New parents deserve support – Labour will deliver
    ...
    Labour | 23-07
  • National refuses meeting with Maui’s advocates
    National has refused a briefing from a group of Maui's dolphins experts, whose research shows 80 per cent of New Zealanders want greater protection for the critically endangered dolphin, the Green Party said today.Dolphin campaigner Gemma McGrath and marine scientist...
    Greens | 23-07
  • MANA Tamaki send a challenge to Labour
    “Labour should set the agenda and purposely do something positively controversial once a week”, said MANA candidate for Mt Albert, Joe Carolan. “A good start would be for all Labour Auckland MPs and members to join the Justice for Palestine...
    Mana | 23-07
  • We must act to save our dolphins
    A new report makes it clear for the urgent need to protect Maui’s and Hector’s dolphins while arguing  it is clear that there is no need for further research, says Labour’s Conservation spokesperson Ruth Dyson.  “Labour backs the public call...
    Labour | 23-07
  • School told to manipulate national standards data
    Parents can have little confidence in the Government’s National Standards after an Auckland school was told to manipulate its data so it added up, Labour’s Education spokesperson Chris Hipkins. “Valley School in Pukekohe was advised in an email from the...
    Labour | 23-07
  • Regional economies must have tailored plans
    News that up to 114 jobs could be lost from Fonterra’s Canpac plant in Hamilton reinforces the need for a government plan to build resilient regional economies, Labour’s MP for Hauraki-Waikato Nanaia Mahuta says. “The Canpac site has effectively responded...
    Labour | 23-07
  • Auditor General slams Shared Services project
    The Auditor-General’s Office could not have been more damning about the 18 months spent on the Central Agency Shared Services (CASS) project at the Finance and Expenditure Committee this morning, says Maryan Street, Labour’s State Services spokesperson.  ...
    Labour | 23-07
  • Fonterra job losses a massive blow to Waikato
    The potential loss of up to 114 jobs from Fonterra’s Canpac plant in Hamilton is a massive blow to the Waikato region which has already lost hundreds of jobs, Labour says. Labour’s Social Development spokesperson and Hamilton-based list MP Sue...
    Labour | 23-07
  • Basin flyover decision an opportunity for capital
    The decision to reject the proposed flyover at the Basin Reserve must be taken as an opportunity to properly fund Wellington’s transport future and must not be used as an excuse to take resources away from the capital, Wellington Labour MPs...
    Labour | 22-07
  • National out of touch with the regions
    John Key is out of touch with regional New Zealand if he believes tinkering with council regulations will restore opportunities to small towns, Labour Leader David Cunliffe says. “While the regions are crying out for sustainable growth and job opportunities,...
    Labour | 22-07
  • Flyover rejection a victory for sustainable transport
    The rejection of the proposed Basin Reserve flyover by a Board of Inquiry is a victory for sustainable transport in Wellington and paves the way for other alternatives to be given a fair hearing, Wellington Labour MPs Grant Robertson and...
    Labour | 22-07
  • Reo Māori Policy Launch
    MANA will be launching its Reo Māori policy at 10am Thursday 24 July, at Matangireia (the old Māori Affairs Select Committee room at Parliament). We will also be addressing our concerns regarding the Minister of Māori Affairs Māori Language Strategy...
    Mana | 22-07
  • Basin Flyover decision victory for common sense
    The Green Party welcomed the Environmental Protection Authority's draft decision announced today not to allow the $90 million Basin Reserve flyover in Wellington to proceed."Both popular and expert opinion opposed the flyover. The proposal was expensive, unnecessary and would have...
    Greens | 22-07
  • Loss Leading could destroy Kiwi lamb’s reputation
    Meat companies that supply supermarkets and sell New Zealand lamb as a loss leader in the United Kingdom should lose their access to this valuable quota market, said Labour’s Primary Industries spokesperson Damien O’Connor. “Our reputation as a Lamb producer...
    Labour | 22-07
  • Ae Marika! 22 July 2014
    The big storm has gone, but the damage that it did and the saturation levels that it reached meant that smaller storms quickly overwhelmed roading, and water-flow systems again in the north. And although certain individuals are talking up the...
    Mana | 21-07
  • 2014 Roger Award nominations now open
    The Roger Award is for The Worst Transnational Corporation Operating in Aotearoa/New Zealand in 2014 Nominations are now open please visit the website to nominate the worst TNC in Aotearoa. You will need to include reasons why you think your...
    Mana | 21-07
  • Labour will revive the regions with new fund
    The next Labour Government will co-develop Regional Growth Plans for every region of New Zealand and will invest at least $200 million in a fund to create breakthrough opportunities for jobs and sustainable growth, Labour Leader David Cunliffe says....
    Labour | 21-07
  • Something Fishy About Nick Smith’s Game.
    NICK SMITH’S crude intimidation of the Fish and Game Council points to the bleakest of environmental futures should National be re-elected on 20 September. It is now considerably clearer than 60 percent of New Zealand’s lakes, rivers and streams that...
    The Daily Blog | 28-07
  • Key’s odd personal hypocrisy in Epsom, his kiss of death to the Maori Par...
    Aside from tricking Colin Craig into running in an electorate National can crush him in, John Key has announced three things in his election deals that are ill thought out. The first is his deal with the Maori Party. At a time...
    The Daily Blog | 28-07
  • Why it’s all over for the Conservative Party
    Whatever flirtations were made months ago to Colin Craig by National strategists, the polling must have come back showing them too much of their soft urban vote would walk if Key was in Government with Colin Craig.  The necessary inside muscle to...
    The Daily Blog | 28-07
  • Balance in the NZ Herald and has something gone terribly wrong at the Heral...
    So the ‘balance’ in the NZ Herald this year for the election will be… Guest columnists will include the acerbic Cactus Kate from the radical right, former Labour candidate Josie Pagani and broadcaster Mark Sainsbury. Right, so that would be...
    The Daily Blog | 27-07
  • Phew – National Party hubris seals strategy
    The National Party are bot listening to Matthew Hooton. Phew. Hooton has crunched the numbers and based on past polling National always drops 6 points come election day. National aren’t listening. Barging through the need to cut deals with all...
    The Daily Blog | 27-07
  • Noam Chomsky on the TPPA
    Noam Chomsky on the TPPA...
    The Daily Blog | 27-07
  • Unacceptable secrecy around labelling people terrorists
    It’s good to see the Sunday Star-Times attempting to get more information from government agencies about Daryl Jones, the Kiwi killed in a US drone strike in Yemen.  The paper is right to complain about the government’s refusal to provide...
    The Daily Blog | 27-07
  • A critical deconstruction of John Key – what’s behind the facade?
    Aspiring national leaders need a popular narrative of their rise to power.  Once in office, the narrative can be refined to fit the requirements of leadership and re-election.  Such is the purpose of John Roughan’s John Key: Portrait of  a...
    The Daily Blog | 27-07
  • Radio Live – off Mark
    The Top Marks lasted five weeks on Mediaworks radio station The Sound. This may have something to do with last being relevant in the mid-1980s when there were only two commercial FM licences in Auckland and they were on one...
    The Daily Blog | 27-07
  • Wellingtonians say ‘No!’ to Israeli aggression
    .   . Wellington, NZ, 26 July – About 600 Wellingtonians, and from further afield, met at the Cuba Mall Bucket fountain under a wintery sunny sky, to protest Israel’s continuing aggression in the Gaza strip, which – at the...
    The Daily Blog | 27-07
  • GUEST BLOG: Shasha Ali – I am an indigenous person but I will never call ...
    Yesterday was indeed a politically hectic day in Aoteaora New Zealand, especially if you are an activist that cares about both human and non-human animal rights. Protest actions were organised to demand an end to factory farming from about noon, and...
    The Daily Blog | 26-07
  • Pro-Israel, Pro-Palestine or ‘Pro-Peace’?
    Latest protest for people of Gaza in Auckland In the past couple of weeks I have heard a lot of people say that they are neither Pro-Israel nor Pro-Palestine; they are pro-peace. This is a stand that I respect. Everyone...
    The Daily Blog | 26-07
  • So we can’t feed the kids, the poor OR the sick now?
    Let me get this straight. We can borrow $10 billion in tax cuts over the last 6 years for the richest NZers, but we can not feed the kids, the poor or even the sick now? Revealed: Warning over hospital food...
    The Daily Blog | 26-07
  • Kim Dotcom has said it, Laila Harre has said it and now David fisher says i...
    Fascinating piece by David Fisher in the NZ Herald breaking down how many opportunities the Government had to listen to officials and stop KDC entering the country and concludes KDC should never have been allowed in… It prepared papers for the...
    The Daily Blog | 25-07
  • You, Me and the GCSB Public Meetings
      The GCSB and TICS legislation rushed through Parliament by John Key represent the largest erosion of civil liberties this country has seen since the 1951 Waterfront Lockout. In the post Snowden world we now know a mass surveillance state operating...
    The Daily Blog | 25-07
  • A feminist takedown of Whale Oil
    Whale Oil does it again. How many more times is he going to attack and discredit Tania Billingsley publicly? In a short blog published on Wednesday ‘Nothing to be sorry for‘ Whale Oil also known as Cameron Slater, is defending John Key...
    The Daily Blog | 25-07
  • GUEST BLOG: Curwen Ares Rolinson – New Zealand First – We’ll Be Back
    Earlier this week, Bomber penned a missive which set out in some detail why he thought my people, New Zealand First, wouldn’t be making it back into Parliament later this year. Being a pugnacious, vindictive sort who’d never let such an...
    The Daily Blog | 25-07
  • The changes teachers DO want
    “Oh you teachers, you just want everything to stay the same – what’s wrong with choice?  Bloody teachers.  Typical that you don’t want testing – trying to hide that you’re all useless. What about our poor kids?  Gnash gnash rant rant...” That’s...
    The Daily Blog | 25-07
  • A feminist take down of Whale Oil
    Whale Oil does it again. How many more times is he going to attack and discredit Tania Billingsley publicly? In a short blog published on Wednesday Nothing to be sorry for Whale Oil also known as Cameron Slater, is defending John Key...
    The Daily Blog | 25-07
  • On so called Labour Party ‘distractions’
    The right wing of the Labour Party are constructing a narrative that Labour need to stop chasing distractions and focus on the real issues that matter and not these silly GCSB, inequality, domestic violence, media bias, TPPA issues. It is...
    The Daily Blog | 25-07
  • Selfies: Labour’s Electorate MPs are at it again
    IT’S A LITTLE TRIANGLE of grass at the corner of Rewa Street and Mt Eden Road, ideal for election hoardings. Wandering along Mt Eden Road last Saturday morning to our weekly appointment with the brunch menu at Orvieto, my family and...
    The Daily Blog | 25-07
  • Well, well, well – Jonathan Coleman did know about FBI interest into Kim ...
    Last years GCSB Town Hall meeting in Auckland Oh dear, the cover up and lies are starting to fall over now aren’t they… Coleman knew of FBI interest in Dotcom pre-residency decisionGovernment minister Jonathan Coleman knew the FBI was interested...
    The Daily Blog | 24-07
  • Why You Must March Against Factory Farming This Saturday, 12pm
    The rally this Saturday is critical because this is the FIRST TIME IN NEW ZEALAND HISTORY that a major party has agreed to ban all intensive factory farming practices. The Labour party, the Greens, Internet-Mana, the SPCA, SAFE and other...
    The Daily Blog | 24-07
  • Astronaut tweets photo of explosions over Israel and Gaza from space
      This is what a war zone looks like from space: From aboard the International Space Station, German astronaut Alexander Gerst tweeted this image as the station passed over Israel and Gaza in what he called ‘his saddest photo yet’....
    The Daily Blog | 24-07
  • When Firstline are focusing on flag burning rather than dead Palestinian ch...
    The IDF are butchering children in UN schools this morning and what’s the big issue on TV3s Firstline? Flag burning. How pathetic, and what a slap in the face to Mike McRoberts who is currently risking his life in Gaza...
    The Daily Blog | 24-07
  • ‘Victim’ vs ‘Terrorist’
    ‘Victim’ vs ‘Terrorist’...
    The Daily Blog | 24-07
  • Petition asking TVNZ to stand Hosking down as election moderator jumps to o...
    In just a day the petition calling on TVNZ to replace Hosking as the election moderator has jumped to over 2500, you can sign it here. The defence that the Right are trying to run here is that John Campbell...
    The Daily Blog | 24-07
  • When the mainstream media go feral: the descent into sheer farce, according...
    . . It had to happen, I guess… The media pack-campaign against Labour Leader David Cunliffe has managed to  plumb new depths of absurdity. On TV3, on 24 July,  TV3/Tova O’Brien ran this report on their 6PM News bulletin, about...
    The Daily Blog | 24-07
  • Coalition for Better Broadcasting: MIKE HOSKING FOR PM?
    Yes indeed. Mike Hosking is for the PM. And now he’s able to do even more as moderator (or should that be immoderator) of TVNZ’s election debates. Here at the Coalition for Better Broadcasting we feel it’s pretty safe to say that...
    The Daily Blog | 24-07
  • The lie that “There is no alternative” to neo-liberal economic policies
    Supporters of President Maduro in Venezuela rally   Since the 1980s we have had drubbed into our heads that there was no alternative to the economic and social policies unleashed at that time. It even had it’s own acronym – TINA. The...
    The Daily Blog | 24-07
  • A Kanaky tale of mining skulduggery and environmental courage
    Florent Eurisouké … still campaigning against mining. Photo: Del Abcede/PMC David Robie also blogs at Café Pacific AN EXTRAORDINARY story of mining skulduggery and a courageous struggle by indigenous Kanak environmental campaigners has been captured in a poignant new documentary,...
    The Daily Blog | 24-07
  • UNBREAKING: The list of questions Mike Hosking will use in first TVNZ leade...
    “Good evening ladies and gentlemen and welcome to the first TVNZ leaders debate being held live in the gloriously beautiful Sky City ball room. It’s such a beautiful building boys and girls, we are so blessed to have Sky City...
    The Daily Blog | 24-07
  • Internet Party Party review
      I have been to A LOT of political party functions in my time, and they tend to be dull affairs at the best of times but what is happening with Internet MANA is something quite exciting. I went to...
    The Daily Blog | 24-07
  • Dear Seven Sharp – after learning Hosking will be the leaders debate ...
    I have to be honest, I had made the decision last night  to accept Seven Sharp’s hastily offered opportunity to appear on their show after I savagely criticised the bullshit whitewash story they did on John Key’s favourite far right hate speech...
    The Daily Blog | 23-07
  • National refuses meeting with Maui’s advocates
    MIL OSI – Source: Green Party – Headline: National refuses meeting with Maui’s advocates Wednesday, 23 Jul 2014 | Press Release This is another reminder that the National Government does not care about the survival of the Maui’s dolphin National...
    The Daily Blog | 23-07
  • Message from CTU President Helen Kelly
    MIL OSI – Source: Unite Union – Headline: Message from CTU President Helen Kelly Dear MikeThere’s only 43 days until September 3, when voting in the General Election starts. The last day to vote is September 20.Thanks heaps for signing...
    The Daily Blog | 23-07
  • MANA Tamaki send a challenge to Labour
    MIL OSI – Source: Mana Movement – Headline: MANA Tamaki send a challenge to Labour Posted on July 23, 2014 by admin in Joe Carolan, Press Releases“Labour should set the agenda and purposely do something positively controversial once a week”,...
    The Daily Blog | 23-07
  • We must act to save our dolphins
    MIL OSI – Source: Labour Party – Headline: We must act to save our dolphins A new report makes it clear for the urgent need to protect Maui’s and Hector’s dolphins while arguing  it is clear that there is no...
    The Daily Blog | 23-07
  • School told to manipulate national standards data
    MIL OSI – Source: Labour Party – Headline: School told to manipulate national standards data Parents can have little confidence in the Government’s National Standards after an Auckland school was told to manipulate its data so it added up, Labour’s...
    The Daily Blog | 23-07
  • Regional economies must have tailored plans
    MIL OSI – Source: Labour Party – Headline: Regional economies must have tailored plans News that up to 114 jobs could be lost from Fonterra’s Canpac plant in Hamilton reinforces the need for a government plan to build resilient regional...
    The Daily Blog | 23-07
  • Auditor General slams Shared Services project
    MIL OSI – Source: Labour Party – Headline: Auditor General slams Shared Services project The Auditor-General’s Office could not have been more damning about the 18 months spent on the Central Agency Shared Services (CASS) project at the Finance and...
    The Daily Blog | 23-07
  • Fonterra job losses a massive blow to Waikato
    MIL OSI – Source: Labour Party – Headline: Fonterra job losses a massive blow to Waikato The potential loss of up to 114 jobs from Fonterra’s Canpac plant in Hamilton is a massive blow to the Waikato region which has...
    The Daily Blog | 23-07
  • Basin flyover decision an opportunity for capital
    MIL OSI – Source: Labour Party – Headline: Basin flyover decision an opportunity for capital The decision to reject the proposed flyover at the Basin Reserve must be taken as an opportunity to properly fund Wellington’s transport future and must...
    The Daily Blog | 23-07
  • Indonesia: New President Widodo must make good on human rights pledges
    MIL OSI – Source: Amnesty International NZ – Headline: Indonesia: New President Widodo must make good on human rights pledges Indonesia’s new President Joko Widodo must deliver on campaign promises to improve Indonesia’s dire human rights situation, Amnesty International said....
    The Daily Blog | 23-07
  • Communities in Sierra Leone turn their backs on female genital mutilation
    MIL OSI – Source: Amnesty International NZ – Headline: Communities in Sierra Leone turn their backs on female genital mutilation While activists gather in London to discuss strategies to tackle female genital mutilation, communities across Sierra Leone have been taking...
    The Daily Blog | 23-07
  • The Gambia: Activists mark 20 years of iron-fisted repression
    MIL OSI – Source: Amnesty International NZ – Headline: The Gambia: Activists mark 20 years of iron-fisted repression The Gambian government must abolish the laws and iron fisted practices that have resulted in two decades of widespread human rights violations,...
    The Daily Blog | 23-07
  • A blog from the front lines of Palestine: It’s time for a new narrative
    I don’t know if I follow trouble or if trouble follows me, but somehow I seem to have found myself near one of the world’s hotspots again. The difference this time is that instead of sitting in some obscure location,...
    The Daily Blog | 23-07
  • GUEST BLOG: Michael Wood – The Path Ahead
    It’s well established that Labour has had a difficult couple of weeks. Getting back on to a successful path requires our focus to shift from looking inwards to outwards, heightened discipline, and inner conviction. While my assessment of New Zealand...
    The Daily Blog | 23-07
  • Employers liquidating companies to avoid paying minimum entitlements
    Across the union movement we have seen a number of documented cases now where companies are liquidating their business in order to avoid their legal obligations, in terms of paying the minimum entitlements to their workers. The most recent example...
    The Daily Blog | 23-07
  • GUEST BLOG: Joe Carolan : Positively Controversial
    The protest in Auckland last weekend that the NZ Herald claimed was attend by only a hundred people. Labour should set the agenda and purposely do something positively controversial once a week. A good start would be for all their...
    The Daily Blog | 23-07
  • Forest & Bird supports Fish and Game’s freshwater advocacy
    The independent conservation organisation Forest & Bird is concerned over allegations the Fish & Game Council has been threatened over its advocacy for freshwater quality....
    Scoop politics | 28-07
  • Time for Epsom to say “no deal”
    “Epsom voters will be disgusted by the deal announced today to try and once again gift their electorate to the ACT Party”, says Labour candidate for Epsom Michael Wood....
    Scoop politics | 28-07
  • Petition for release the of seven Bah
    At the invitation of the Honourable Annette King the New Zealand Bahá'í community is presenting a petition to the House of Representatives asking the NZ government to demand the release of the seven former leaders of the Baha’i community in...
    Scoop politics | 28-07
  • Capital gains in the capital city
    Victoria University will today be hosting a public debate on the merits of more comprehensive capital gains tax—a step which taxation expert Associate Professor Dr David White considers would be beneficial for New Zealand. Organised by student group Beta Alpha...
    Scoop politics | 28-07
  • Te Kupenga supports efforts of anti-violence campaigner
    Te Kupenga Whakaoti Mahi Patunga – National Network of Stopping Violence Services (Te Kupenga) wholeheartedly endorses statements made by DJ, Kickboxer and Anti-Violence Campaigner Richie Hardcore this morning on TV3’s Firstline about the role of men...
    Scoop politics | 28-07
  • iPredict Ltd2014 Election Update #28
    The chances of a fiscal surplus in 2014/15 continue to plunge and are down to 50%, according to the combined wisdom of the 7000 registered traders on New Zealand’s online predictions market, iPredict. The forecast surplus is now just 0.22%...
    Scoop politics | 28-07
  • TPPA is a bad idea
    “Currently New Zealand, Australia, Singapore, Brunei, Vietnam, the USA, Japan, Malaysia, Canada, and Mexico are still negotiating the Trans-Pacific Partnership Agreement. Officially talks finished last August, but the reality is that they keep...
    Scoop politics | 28-07
  • Getting privacy right in our data future
    Privacy Commissioner John Edwards welcomes the release of the New Zealand Data Futures Forum’s report....
    Scoop politics | 28-07
  • Conference on Democracy, Ethics and the Public Good
    Conference on Democracy, Ethics and the Public Good A conference is to be held in Wellington on 1 and 2 August with the aim of starting a NZ-wide discussion about the quality of our democracy. The conference is hosted jointly...
    Scoop politics | 27-07
  • Paddock to plate, and smart roads possible
    New Zealand’s international brand and exports could grow significantly with the creation of a data sharing ‘eco-system’ according to a paper released by the NZ Data Futures Forum today....
    Scoop politics | 27-07
  • Ngapuhi wants to overthrow Maori King
    Ngapuhi is planning a hui for the end of the year – organised by iwi leader David Rankin – in which the future of the King Movement will be discussed....
    Scoop politics | 27-07
  • Housing warrant of fitness little help for sick children
    A housing warrant of fitness has been promoted as a way of preventing sickness among children in poverty. The attached report shows that such a regime would have little impact on health outcomes but would come at a considerable cost,...
    Scoop politics | 27-07
  • Upcoming Fabian Events in Auckland
    Sue Bradford ’s PhD thesis, 'A major left wing think tank in Aotearoa—an impossible dream or a call to action?' looked at why no major left wing think tank has developed in Aotearoa and whether the left in 2010-2013 was...
    Scoop politics | 27-07
  • Senior Citizens, Not Senile Citizens
    The Taxpayers’ Union is questioning the merits and costs of the “ No car? No problem! Getting around your community without a car” brochure, released by the Office for Senior Citizens. The brochure’s purpose is to explain to senior citizens...
    Scoop politics | 27-07
  • NZ Troops Hone Their Skills in Queensland
    Around 260 New Zealand troops are on a 25-day Australian-led warfighting exercise in Townsville, Northern Queensland....
    Scoop politics | 27-07
  • Maritime Union backs Green Party call for shipping lanes
    The Maritime Union is backing the Green Party’s policy to implement compulsory shipping lanes for coastal shipping, announced today....
    Scoop politics | 27-07
  • Auckland Council Bypasses Public, Ditches Rodeo Ban
    Auckland Council Bypasses Public, Ditches Rodeo Ban The Auckland Council has announced that they are abandoning the rodeo ban on council land, put into place in 2008. This was done with virtually no consultation, says SAFE, the animal advocacy organisation....
    Scoop politics | 27-07
  • Tolley and Coleman urged to meet West Papuan visitor
    Ministers Tolley and Coleman urged to meet West Papuan visitor Police Minister Anne Tolley and Defence Minister Dr Jonathan Coleman have a rare opportunity this week to gain first-hand knowledge about Indonesian police and military activities in West...
    Scoop politics | 27-07
  • Minister Right to Give Fish & Game a Serve
    Reacting to Radio New Zealand’s report concerning allegations that Conservation Minister Nick Smith warned the Fish and Game Council that it acts like a 'rabid NGO', Jordan Williams, Executive Director of the Taxpayers’ Union says:...
    Scoop politics | 27-07
  • Government needs to get Fishing reform bill passed now
    The Maritime Union is urging the Government to push through a Bill reforming the fishing industry....
    Scoop politics | 27-07
  • Ivory trade laws look set to tighten following petition
    A petition mounted by an Auckland schoolteacher has won the support of a powerful Select Committee and has moved the New Zealand closer towards a fully enforceable ivory trading ban....
    Scoop politics | 27-07
  • Bilingual guide a demonstration of leadership
    “Waikato River Restoration: A Bilingual Guide” to the Waikato River that saw Tainui Waikato, Landcare Trust and the Waikato River Authority working together is a demonstration of rangatiratanga or leadership says Race Relations Commissioner...
    Scoop politics | 27-07
  • Georgina Beyer to stand for MANA in Te Tai Tonga
    "It's great to have Georgie on board" said Hone Harawira, MANA Leader and Te Tai Tokerau MP. "She's strong-minded, stands up to be counted, and has fought for the rights of those who haven't had any - and won. That...
    Scoop politics | 27-07
  • Q + A: Sir Bob Harvey
    SUSAN Sir Bob Harvey was behind the transformation of Norm Kirk, and one of New Zealand's most popular Prime Ministers. He also advised Bill Rowling, David Lange and Helen Clark, the latter as Labour Party President. Wild Westie a new...
    Scoop politics | 27-07
  • Q + A: Rod Drury
    Xero boss Rod Drury told TVNZ’s Q+A programme what the political parties are offering at this election is ‘all too small.’ “There's no policy, all it is a bunch of incremental stuff. “All too small. What we want to do...
    Scoop politics | 27-07
  • Q + A: Gerry Brownlee
    Transport Minister Gerry Brownlee Rules Out Fastracking Auckland’s City Rail Loop Transport Minister Gerry Brownlee told TV1’s Q+A programme this morning that he won’t be bringing forward an Auckland City Rail loop based on new figures showing...
    Scoop politics | 27-07
  • Owen interviews Australian Treasurer Joe Hockey
    Lisa Owen interviews Australian Treasurer Joe Hockey Headlines: Australian Treasurer Joe Hockey suggests “we can move on some” changes to welfare for New Zealanders in Australia New Zealanders “brothers and sisters” who make “a massive contribution”,...
    Scoop politics | 27-07
  • Flavell and Harawira on The Nation
    Lisa Owen interviews Maori Party leader Te Ururoa Flavell and Mana leader Hone Harawira Headlines: Hone Harawira says realistically his Mana Party can take three Maori seats, Te Ururoa Flavell sticks to prediction that Maori Party will win all seven....
    Scoop politics | 27-07
  • The Nation 26,27 July: Flavell & Harawira, Joe Hockey
    On The Nation this weekend…. With the Maori seats primed to play a pivotal role this election, Torben Akel reports from the key battlegrounds and meets the top contenders. Then the Maori Party co-leader Te Ururoa Flavell and Mana Party...
    Scoop politics | 25-07
  • Announcement of New Zealand First Candidate for Rangitīkei
    New Zealand First has endorsed Dr Romuald (‘Rom’) Rudzki as the candidate for the Rangitīkei Electorate in the 2014 General Election....
    Scoop politics | 25-07
  • Labour Offer Len Brown a Hotel Tax
    The Taxpayers’ Union is slamming the Labour Party's plan to allow councils to levy new 'pillow taxes' and regional petrol taxes. Reacting to this afternoon’s NZ Herald report Jordan Williams, Executive Director of the Taxpayers’ Union ,...
    Scoop politics | 25-07
  • Cell phone evidence a first
    Cell phone evidence a first Evidence gathered solely from a cell phone has been used for the first time to convict a Hastings man for possessing child sexual abuse pictures. Michael Lawrence Worsnop, a 29-year-old orchard worker pleaded guilty to...
    Scoop politics | 25-07
  • New Zealand Aid Worker Helping in Gaza
    A New Zealand Red Cross nurse working in Gaza says she has never experienced anything like the current conflict in her long aid work career....
    Scoop politics | 25-07
  • Parking officers deserve safety at work
    The union representing the Auckland Transport parking officer severely beaten on July 17 says everyone has a right to go about their job without fear for their safety....
    Scoop politics | 25-07
  • Caritas Aotearoa NZ to provide Gaza humanitarian aid
    Caritas Jerusalem is providing medical assistance, food and other necessities to the thousands of vulnerable people affected by the escalating conflict in Gaza, and Caritas Aotearoa New Zealand is contributing an initial $20,000 to support the humanitarian...
    Scoop politics | 25-07
  • ALCP challenges parties to support Charlotte’s Web
    The leader of the Aotearoa Legalise Cannabis Party Julian Crawford is calling on all other political parties to state their position on using cannabis oil to treat pediatric epilepsy....
    Scoop politics | 25-07
  • Oxfam accepts cheque from Pacific Corporation Foundation
    Oxfam New Zealand has accepted a cheque for almost $1000 today from the Pacific Corporation Foundation toward recovery efforts in the Solomon Islands, following April’s flash flooding that left thousands homeless....
    Scoop politics | 25-07
  • Draft report and decision – Pūhoi to Warkworth proposal
    The Ara Tūhono – Pūhoi to Wellsford Road of National Significance: Pūhoi to Warkworth section Board of Inquiry has released its draft report and decision....
    Scoop politics | 25-07
  • New Zealanders willing to pay tax to protect dolphins
    A report released this week shows a large majority of New Zealanders want Maui’s and Hector’s dolphins protected and they are prepared to pay for it....
    Scoop politics | 25-07
  • Stop Smart Meters
    “The Democrats for Social Credit Party (DSC) wholeheartedly endorses the Stop Smart Meters campaign for a moratorium on installations of smart meters until the technology is proven not be a risk to health, and until home owners are given a...
    Scoop politics | 25-07
  • Maori Roll Electors Urged to Vote Strategically
    Voters enrolled in the seven Maori electorates must learn to maximize their influence by voting strategically, according to the Maori Party candidate for Te Tai Tokerau, Rev Te Hira Paenga....
    Scoop politics | 25-07
  • Politicians Ignore Families’ Concerns on Street Prostitution
    Family First NZ says that politicians are ignoring the concerns of families, lack the will to take appropriate action, and are happy to drag the ongoing problem of street prostitution into the next parliamentary term....
    Scoop politics | 25-07
  • Plunket celebrates Te Wiki o te Reo Māori
    Plunket is proud to celebrate Te Wiki o te Reo Māori (21-27 July), with Plunket people across the country among several thousand New Zealanders taking part and increasing their kete of knowledge in te reo....
    Scoop politics | 25-07
  • Coleman must quit or be sacked over Dotcom case
    Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. Internet Party leader Laila Harré...
    Scoop politics | 24-07
  • Auckland Councillors, Not Emperors
    25 JULY 2014 Responding to the NZ Herald report that Auckland Councillors have voted to keep their ratepayer-funded business class travel perks, and considered new rules that would have exempted councillors from Auckland City's parking charges, Taxpayers’...
    Scoop politics | 24-07
  • Cunliffe Looks Dodgy Lunching with Sex Offender
    Conservative Party Leader Colin Craig says that David Cunliffe's social meeting with a known sex offender while on holiday "looks pretty dodgy."...
    Scoop politics | 24-07
  • Taxpayers’ Union Back LGNZ Calls For Greater Transparency
    The Taxpayers’ Union is backing Local Government New Zealand’s calls for the Official Information Act to be extended to cover the Local Government Commission. Union Executive Director, Jordan Williams, says:...
    Scoop politics | 24-07
  • Lecture series to provide insight into 2014 election
    Could National’s refusal to reform MMP lead to the defeat of the government? Is the media providing voters with the information they require to make an informed electoral decision? What directions might John Key’s leadership take if he secures...
    Scoop politics | 24-07
  • National Rally Against Factory Farming
    Animal advocates and members of the public all over New Zealand will unite for a ‘National Day of Action Against Factory Farming’ Saturday, tomorrow 26 July in response to two recent exposés that showed horrific conditions on pig factory farms....
    Scoop politics | 24-07
  • Women in Politics Finds Support at Conference
    Women in Politics, a brand-new organisation for New Zealand women in political office, was met with overwhelming support at the 2014 Local Government New Zealand Conference held this weekend in Nelson....
    Scoop politics | 24-07
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