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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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    Mana | 20-07
  • One-sided reporting on the Middle East Conflict
    The following was sent to New Zealand Herald, Fairfax Media, Radio New Zealand, Television New Zealand, TV3, Radio Live and ZB Network. We are writing to all of you because there are well established patterns of reporting which seem to have been adopted by New Zealand...
    Mana | 20-07
  • New President for MANA Movement
    Lisa McNab, MANA President, and Annette Sykes, outgoing MANA President and candidate for Waiariki Lisa McNab was officially passed the mantle of MANA President in a special ceremony at Potahi Marae in Te Kao this week, following her unanimous election into the...
    Mana | 20-07
  • Te Reo Māori a doorway to opportunity
    A Labour Government will ensure more of our children have the opportunity to learn te reo Māori by encouraging the learning and use of it in schools, Labour’s Māori Affairs spokesperson Nanaia Mahuta says....
    Labour | 19-07
  • Work numbers not all they’re cracked up to be
    The Government's figures on the numbers of beneficiaries don't add up, Labour's Social Development spokesperson Sue Moroney says."Paula Bennett keeps saying 1500 people are going off the benefit into work every week, yet today she announced just 16,000 fewer people...
    Labour | 18-07
  • Flood relief for National voters first
    “The flooding in Tai Tokerau has hammered the north and impacted hundreds of families right across the region,” said MANA Leader and Tai Tokerau MP, Hone Harawira. “It’s bitterly disappointing to see that the first response from this National government...
    Mana | 18-07
  • Don’t contract out your loyal cleaners SkyCity3
    SkyCity should put aside its proposal to contract out its cleaning staff and not be lured by the prospect of washing their hands of these essential jobs and leaving them to the world of third party contracting, Labour’s Associate Labour...
    Labour | 18-07
  • Green Party statement on tragedy of Malaysian Airlines flight MH17
    The Green Party conveys its condolences to the families of the victims of Malaysian Airlines flight MH17.The Ukrainian Government has accused pro-Russia rebels in the east of the Ukraine of shooting down the Malaysia Airlines jet with a ground-to-air missile,...
    Greens | 18-07
  • Gaza ground offensive can only result in more deaths
    Israel’s decision to continue with a ground offensive into Gaza can only result in more civilian deaths and push a ceasefire further beyond reach, Labour’s Foreign Affairs spokesperson David Shearer says. “There is no such thing as a surgical strike...
    Labour | 18-07
  • Tackling childhood obesity is not rocket science Minister, but it is scienc...
    The Government's latest snub of scientific evidence - this time about its failure to address childhood obesity - is another example of National's reliance on 'tobacco science' to justify its denial agenda, the Green Party said today. An Auckland University...
    Greens | 18-07
  • Paying patients to go away not a solution
    A voucher system being used by emergency departments in Southern DHB - which pays patients to see a GP – is designed to skew figures to meet Government targets, Labour’s Associate Health spokesperson and Dunedin North MP David Clark says....
    Labour | 18-07
  • Common sense a better response
    The actions of two police officers who walked into a marae's wharenui in the early hours of the morning to search and photograph a group of children in their pyjamas are deeply concerning, Labour’s Associate Police spokesperson Kelvin Davis says....
    Labour | 18-07
  • Taxpayer cash to plug Chorus copper hole
    The Chief Executive and Board of Chorus must be held accountable for striking a deal that uses taxpayer money that was intended to build a new fibre network to instead plug the company’s revenue gaps, says Labour’s ICT spokesperson Clare...
    Labour | 18-07
  • Labour won’t abandon regional New Zealand
    Labour will ensure no regions in New Zealand are ‘red-zoned’ by tailoring Regional Growth Plans for each province as part of our Economic Upgrade, Labour’s Finance spokesperson and Deputy Leader David Parker says. “The Royal Society of New Zealand’s Our...
    Labour | 17-07
  • Minister must come clean on amalgamation
    The Minister of Local Government is telling porkies to its supporters on local government amalgamation, says Labour’s Local Government spokesperson Su’a William Sio.   National’s arrogance on amalgamation was all too clear when the Minister shut down Napier’s deputy mayor...
    Labour | 17-07
  • IPCA report proves need for full review of spy agencies
    A report into the Police decision not to prosecute the Government Communications Security Bureau over its unlawful spying of 88 New Zealanders proves the need for a full review into our security agencies, Labour’s Associate Security and Intelligence spokesperson Grant...
    Labour | 16-07
  • New Zealanders will never get justice over spying saga
    New Zealanders who were illegally spied on by the Government Communications Security Bureau (GCSB) will probably never get their justice, said the Green Party today.The Independent Police Conduct Authority (IPCA) today released its findings on whether the Police were negligent...
    Greens | 16-07
  • National issues mineral mining permits in Maui’s sanctuary
    The Government has issued mineral mining permits in one third of the endangered Maui's dolphin sanctuary, the Green Party has revealed today.This follows revelations that permits have also been issued for oil exploration in the sanctuary.There have been 254 Maui's...
    Greens | 16-07
  • No cosmetics tested on animals under Labour
    A Labour Government will help protect animals from harm by prohibiting the sale of cosmetics that have been tested on animals.  Labour’s Animal Welfare spokesperson Trevor Mallard today launched the initiative at an event organised by Labour’s Ōhariu candidate Ginny...
    Labour | 16-07
  • Bridges cannot argue with the CPI –electricity prices are up
    Today’s CPI gives the lie to Simon Bridge’s claim that power prices only rose by 2.3 % in the last year. Labour’s Energy spokesperson David Shearer says. “Its official; the CPI index says power prices increased by 4.2% in the...
    Labour | 16-07
  • Parata ploughs ahead with anti-democracy plan
      Hekia Parata is ignoring overwhelming opposition by ploughing ahead with plans to gut the political independence of the teaching profession and stifle democracy on tertiary institution councils, Labour’s Education spokesperson Chris Hipkins says. “It is no surprise a massive...
    Labour | 16-07
  • Greens announce $1 billion additional investment in R&D, including busi...
    The Green Party has announced today that its economic priority for the election is building a smarter greener economy that benefits every New Zealander.In the Party's headline economic announcement, the Greens have launched their plan to build a smarter, more...
    Greens | 15-07
  • Families under more pressure as power, food prices rise
    Higher power prices, housing costs and food prices are behind today's inflation rise, putting already stressed families under renewed pressure, the Green Party said today."Families are facing rising costs from food, power, and mortgages, or rents; and most are getting...
    Greens | 15-07
  • Goverment drops recreational river reporting
    The Government pulled the plug on cleaning up our dirty rivers so they are safe for swimming, and now it has given up on annual reports about the problem, the Green Party said today. Two weeks ago the Government released...
    Greens | 15-07
  • Ae Marika! 15 July 2014
    It ain’t over by a long shot, but I can’t help feel good about Northlanders response to the week from hell. This last week has seen the worst weather over a larger region of the north, for a longer period...
    Mana | 15-07
  • Latest power price data shows National has failed families
    Latest data showing New Zealanders' power bills have risen 2.3 percent in the last year show National has failed families and households, the Green Party said today.Ministry of Business, Innovation and Employment data issued today shows average residential electricity prices...
    Greens | 15-07
  • MANA announces its general seat candidates in Tamaki
    MANA is pleased to announce its general seat candidates in Tamaki for the 2014 election. We have 10 seasoned community campaigners keen to bring MANA’s full set of big, bold policies to the election campaign,” says MANA Leader and MP...
    Mana | 14-07
  • Media Advisory- MANA Youth Ambassador
    MANA Leader and MP for Tai Tokerau Hone Harawira, and recently-appointed MANA Youth Ambassador Wairangi Koopu, will be available to speak to the media on the first day of the Internet MANA Road Trip. The Road Trip starts at Cape...
    Mana | 14-07
  • National muddying waters and needs to come clean
    The Government's inaccurate response to the Green Party's clean rivers policy shows it is scared of the Party's plans that will actually make rivers clean enough to swim in, the Green Party said today. Minister of Economic Development, Steven Joyce,...
    Greens | 14-07
  • NZ Govt needs to call for Israel to halt air strikes
    The New Zealand Government must push for Israel to stop its campaign of terror in Gaza, the Green Party said today.Thousands of civilians in Gaza have fled their homes as Israel has continued an offensive to destroy Hamas rocket sites...
    Greens | 13-07
  • MANA announces their MANA Youth Ambassador – Harawira
    Ex New Zealand Warrior hard man and Maori television media personality Wairangi Koopu has joined the MANA strategy team as the new MANA Youth Ambassador in another game changer move for the MANA party. “When we say we want more...
    Mana | 13-07
  • Green Party launches key election priority, rivers clean enough for swimmin...
    The Green Party has announced today that its number one environmental priority for this election is making our rivers clean enough to swim in again and keeping our beaches safe from oil spills. The Green Party will make a series...
    Greens | 12-07
  • Greens say John Key must clarify where he stands on marriage equality
    John Key has left many with the impression he will repeal marriage equality if elected into Parliament again, said the Green Party today. Reports have emerged that at a meeting with Pacific church leaders in Mangere, on Tuesday, many attendees...
    Greens | 11-07
  • McCully mustn’t shirk scrutiny during inquiry
    The inquiry into Foreign Affairs' handling of allegations of attempted rape by a Malaysian diplomat must investigate all the actions taken by Murray McCully during this fiasco, Green Party Co-leader Metiria Turei said today.A Ministerial inquiry has been launched into...
    Greens | 11-07
  • Basin Flyover decision victory for common sense
    MIL OSI – Source: Green Party – Headline: Basin Flyover decision victory for common sense Tuesday, 22 Jul 2014 | Press Release “Both popular and expert opinion opposed the flyover. The proposal was expensive, unnecessary and would have undermined the...
    The Daily Blog | 22-07
  • CPAG Newsletter July 2014
    MIL OSI – Source: Child Poverty Action Group – Headline: CPAG Newsletter July 2014 22 July 2014 New child poverty data nothing to celebrate New data released by the Ministry of Social Development  indicates people living below the poverty line are worse...
    The Daily Blog | 22-07
  • Hotel ordered to pay $80,000 in outstanding wages
    MIL OSI – Source: Unite Union – Headline: Hotel ordered to pay $80,000 in outstanding wages An Auckland hotel has been ordered by the Employment Relations Authority to pay nearly $80,000 in outstanding wages to two employees. Filipino couple Abraham...
    The Daily Blog | 22-07
  • Rising interest rate and dollar driving manufacturing exports back to Globa...
    MIL OSI – Source: CTU – Headline: Rising interest rate and dollar driving manufacturing exports back to Global Financial Crisis levels The Council of Trade Unions is calling on the Reserve Bank not to raise interest rates on Thursday. “Another...
    The Daily Blog | 22-07
  • Israel/Gaza: Attacks on medical facilities and civilians add to war crime a...
    MIL OSI – Source: Amnesty International NZ – Headline: Israel/Gaza: Attacks on medical facilities and civilians add to war crime allegations The continuing bombardment of civilian homes in several areas of the Gaza Strip, as well as the Israeli shelling...
    The Daily Blog | 22-07
  • Central African Republic: Brazzaville talks should not lead to amnesties fo...
    MIL OSI – Source: Amnesty International NZ – Headline: Central African Republic: Brazzaville talks should not lead to amnesties for war crimes Amnesty International called on delegates to the Central African Republic (CAR) National Reconciliation talks due to take place...
    The Daily Blog | 22-07
  • Russia increases stranglehold on dissent as five more NGOs named ‘foreign...
    MIL OSI – Source: Amnesty International NZ – Headline: Russia increases stranglehold on dissent as five more NGOs named ‘foreign agents’ The Russian Ministry of Justice today registered four more Russian human rights organizations and one environmental group as “foreign...
    The Daily Blog | 22-07
  • Nigeria: World Bank panel turns its back on forcibly evicted community
    MIL OSI – Source: Amnesty International NZ – Headline: Nigeria: World Bank panel turns its back on forcibly evicted community The decision by a World Bank Inspection Panel to refuse to investigate a complaint about forced evictions linked to a...
    The Daily Blog | 22-07
  • National out of touch with the regions
    MIL OSI – Source: Labour Party – Headline: 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...
    The Daily Blog | 22-07
  • Flyover rejection a victory for sustainable transport
    MIL OSI – Source: Labour Party – Headline: 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...
    The Daily Blog | 22-07
  • Loss Leading could destroy Kiwi lamb’s reputation
    MIL OSI – Source: Labour Party – Headline: 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...
    The Daily Blog | 22-07
  • Labour will revive the regions with new fund
    MIL OSI – Source: Labour Party – Headline: 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...
    The Daily Blog | 22-07
  • Speech to Local Government New Zealand
    MIL OSI – Source: Labour Party – Headline: Speech to Local Government New Zealand Speech to the Local Government New Zealand Conference 2014 Introduction Early in my time as an MP I went for a long walk on a windswept...
    The Daily Blog | 22-07
  • GUEST BLOG: Chris Perley – Confessions of an ex-Public Servant watching t...
    Back in the 16th century, good Queen Bess said to her Privy Council of advisors something along the lines of: “I want your free, frank advice, without consideration of fear or favour.”  In other words, tell me what you think,...
    The Daily Blog | 22-07
  • The rise of the Internet/Mana phenomenon
    Commentators seem surprised at the popularity of the Mana/Internet phenomenon. The ultimate ‘odd coupling’ is doing reasonably well in the polls at over 2% support, and Right Wing pundits are guessing that the Party might even reach 5% by the...
    The Daily Blog | 22-07
  • Which Party Would (not) Walk Away from a Crap TPPA?
    Trick question.  Any TPPA would be crap. But a future government will try to sell it to us anyway. It is clear that there won’t be any deal until well after the election and the new government is installed. So...
    The Daily Blog | 22-07
  • Te wiki – Maori Language Week
    Maori Language Week has become an entrenched feature of New Zealand.  New Zealanders have come to accept that for one week a year the normal institutions of the white settler society will make some attempt to engage their stakeholders using the...
    The Daily Blog | 22-07
  • A brief word on Cunliffe saying sorry for a 3 day holiday
    I’m not sure who the bloody hell is advising Cunliffe to apologise about a 3 day holiday, but it’s stupid. If you want to know what angry white reactionary NZ thinks about anything, go to a stuff.co.nz poll. Here’s their...
    The Daily Blog | 22-07
  • Seven Sharp – The day public broadcasting died
    I rarely watch Seven Sharp because it’s bullshit and sums up all that is wrong with current affairs in NZ, but even I can’t believe that Seven Sharp have stooped to being an apologist for Cameron Slater on this evenings show. This...
    The Daily Blog | 22-07
  • ….except Israel
    ….except Israel...
    The Daily Blog | 22-07
  • NZIFF Review: The Dark Horse – 6 stars
    This year’s opening New Zealand International Film Festival offering was a couple of nights ago, and I still feel this incredible NZ movie reverberating inside me. The Dark Horse is heartbreaking, heartwarming and terribly raw. Director James Napier Robertson has...
    The Daily Blog | 22-07
  • TDB New Zealand International Film Festival 2014 picks
    NZIFF is here, our picks this season are… The Dark Horse Boyhood Leviathan Is the man who is tall happy?  Hot Air Maps to the Stars Snowpiercer Toons for Tots InRealLife Print The Legend E-Team The Internet’s Own Boy: The...
    The Daily Blog | 22-07
  • A tale of two men: Cunliffe’s apology for rape culture vs Key’s dismiss...
    The manner in which Cunliffe has sought to address rape culture vs Key’s dismissal of it yesterday is a remarkable contrast as stark as the bias over Cunliffe’s holiday vs Key’s holiday. Key takes weeks off to pose for selfies...
    The Daily Blog | 21-07
  • MANA Pasifika Says NO To Discrimination
    MIL OSI – Source: Mana Movement – Headline: MANA Pasifika Says NO To Discrimination  Posted on July 20, 2014 by admin in James Papali’i’Vice Chairperson of MANA Pasifika James Papali’i  feels for Ms Tupou and her children after they were...
    The Daily Blog | 21-07
  • MANA Movement policy release – Economic Justice – John Minto
    MIL OSI – Source: Mana Movement – Headline: MANA Movement policy release – Economic Justice – John Minto  Posted on July 20, 2014 by admin in John Minto, Press ReleasesAddress notes from Mana Economic Justice Spokesperson and co-vice President John...
    The Daily Blog | 21-07
  • New President for MANA Movement
    MIL OSI – Source: Mana Movement – Headline: New President for MANA Movement  Posted on July 20, 2014 by admin in Lisa McNab, NewsLisa McNab, MANA President, and Annette Sykes, outgoing MANA President and candidate for Waiariki Lisa McNab was officially...
    The Daily Blog | 21-07
  • Flood relief for National voters first
    MIL OSI – Source: Mana Movement – Headline: Flood relief for National voters first Posted on July 18, 2014 by admin in Hone Harawira, Press Releases“The flooding in Tai Tokerau has hammered the north and impacted hundreds of families right...
    The Daily Blog | 21-07
  • Te Reo Māori a doorway to opportunity
    MIL OSI – Source: Labour Party – Headline: Te Reo Māori a doorway to opportunity A Labour Government will ensure more of our children have the opportunity to learn te reo Māori by encouraging the learning and use of it...
    The Daily Blog | 21-07
  • GUEST BLOG: Joe Trinder – National Party thugs destroying Internet MANA b...
    Last Saturday morning the volunteer brigade of Internet Mana  went out in the freezing cold to deploy Internet Mana billboards. They braved the cold weather of that icy cold morning only to have National party thugs destroy the billboards and...
    The Daily Blog | 21-07
  • Amnesty International: War crimes against innocent civilians – Why is his...
    27 December 2008, 11:30. Israeli Defence Forces (IDF) commence military airstrikes on a list of 603 targets believed to house suspected Hamas operatives in the Gaza Strip. In just three weeks, the devastating Operation ‘Cast Lead’ claimed approximately nine Israeli...
    The Daily Blog | 21-07
  • Rape Culture is not blah blah blah
    To some of our politicians and commentators, ‘rape culture’ has already become blah blah blah. A meaningless and overstated slogan to roll their eyes at and derisively joke about and deny. It’s something the ‘left’ takes seriously, and something the...
    The Daily Blog | 21-07
  • Hot Air: Alister Barry presents the cold, hard facts about New Zealand’s ...
    IF YOU SEE only one film in the 2014 NZ International Film Festival see Alister Barry’s feature-length documentary, Hot Air. This chilling exposé of the strategy and tactics adopted by New Zealand’s largest industries to ensure that no effective action to combat...
    The Daily Blog | 21-07
  • CTU resolution on Palestine
    Further to Unite’s position on Palestine, this is the Council of Trade Union position on Palestine… Preamble: Over 170 Palestinian political parties, unions and other organizations including the Palestinian General Federation of Trade Unions issued a call in July 2005...
    The Daily Blog | 21-07
  • Stop Israeli State Terror – Rally and March this Saturday 26th July, Aote...
    The humanitarian crisis in Gaza is getting much worse and the world is marching in unprecedented numbers. New Zealanders spoke out strongly last Saturday with a march of 5,000 people in Auckland (see picture below) – the biggest march ever...
    The Daily Blog | 21-07
  • Cafe chef awarded $50,000 for unfair dismissal
    MIL OSI – Source: Unite Union – Headline: Cafe chef awarded $50,000 for unfair dismissal A former chef at an Auckland cafe has been awarded more than $50,000 in unpaid wages and compensation for unjustified dismissal. The Employment Relations Authority...
    The Daily Blog | 21-07
  • NZ needs to assist UN with aid for Gaza
    MIL OSI – Source: Green Party – Headline: NZ needs to assist UN with aid for Gaza Monday, 21 Jul 2014 | Press Release The New Zealand Government should support the United Nation’s efforts to raise money to assist humanitarian...
    The Daily Blog | 21-07
  • Road fix needed now, not later
    MIL OSI – Source: Labour Party – Headline: Road fix needed now, not later Northland’s roading system is in chaos and needs fixing fast, Labour List MP Kelvin Davis says.  “According to NZTA’s 10 year funding data every area of...
    The Daily Blog | 20-07
  • KiwiSaver innovations needed to build wealth
    MIL OSI – Source: Labour Party – Headline: KiwiSaver innovations needed to build wealth The innovative changes to KiwiSaver suggested by the Financial Services Council today will be seriously considered by Labour as part of plans to make KiwiSaver universal,...
    The Daily Blog | 20-07
  • Internet MANA Auckland road show at Kelston – what the media are missing
    The Town Hall in Kelston yesterday was packed well before the start time of 2pm. What many welded to Wellington in the Press Gallery don’t understand about Internet MANA is that its energy and flaxroot mobilisation is far larger than...
    The Daily Blog | 20-07
  • Greens announce 20 hours free ECE for two year olds
    MIL OSI – Source: Green Party – Headline: Greens announce 20 hours free ECE for two year olds Monday, 21 Jul 2014 | Press Release This is an investment in families and our kids’ education and in reducing poverty. The...
    The Daily Blog | 20-07
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today,
    Jeremy Wells’ Mike Hosking on Radio Hauraki...
    The Daily Blog | 20-07
  • Apocalypse Now
    For a brief moment, the nations of the world seemed united in a peaceful pursuit. The  World Cup finale in Brazil captured the imagination of a global TV audience. Within days, catastrophe exploded into the headlines, sending shards of outrage,...
    The Daily Blog | 20-07
  • Palestinians suffer from media’s use of derogatory labels
    Why, in our news media, is an Israeli with a gun a “soldier”, but a Palestinian with a gun a “militant”, or even a “terrorist”? The terminology is clearly prejudicial to the Palestinian cause, because New Zealanders are more likely...
    The Daily Blog | 20-07
  • Another example of media bias – Key’s holiday vs Cunliffe’s holiday a...
    Another, sad, tired example of media bias in terms of holidays this time. I pointed out in the weekend the extreme bias being exhibited by the media… The current level of negative bias being exhibited by the conservative corporate media...
    The Daily Blog | 20-07
  • MANA answers the call to have Apartheid Israeli Embassy kicked out of NZ
    Last week I asked “which NZ political Party will have the courage to call for the Apartheid Israel embassy to close?“, MANA have answered that challenge and have stepped forward as being the political party with that courage… The Mana...
    The Daily Blog | 20-07
  • Pulitzer Prize-winning journalist Glenn Greenwald to speak at September 15t...
      So Pulitzer Prize-winning journalist Glenn Greenwald will speak at Kim Dotcom’s Auckland Townhall event . Dear oh dear, how will the mainstream media journalists handle this news? All week they’ve been screaming how unfair it is that they will have...
    The Daily Blog | 20-07
  • New Zealanders will never get justice over spying saga
    MIL OSI – Source: Green Party – Headline: New Zealanders will never get justice over spying saga Thursday, 17 Jul 2014 | Press Release “How can someone go to Court on the issue when a person doesn’t even know if...
    The Daily Blog | 19-07
  • National issues mineral mining permits in Maui’s sanctuary
    MIL OSI – Source: Green Party – Headline: National issues mineral mining permits in Maui’s sanctuary Thursday, 17 Jul 2014 | Press Release The Government has issued mineral mining permits in one third of the endangered Maui’s dolphin sanctuary, the...
    The Daily Blog | 19-07
  • Casino workers fight outsourcing – picket 1-3pm Friday
    MIL OSI – Source: Unite Union – Headline: Casino workers fight outsourcing – picket 1-3pm Friday 17Jul On Friday the 18th of July, Unite will be picketing SkyCity Casino urging them not to outsource the Cleaning Services department. This proposal...
    The Daily Blog | 19-07
  • #PIZZAHURT! Rally for fair redundancy pay for Pizza Hut workers 3.30pm Thur...
    MIL OSI – Source: Unite Union – Headline: #PIZZAHURT! Rally for fair redundancy pay for Pizza Hut workers 3.30pm Thursday RALLY FOR JUSTICE FOR THE PIZZA HUT CALL CENTRE WORKERS We deserve fair redundancy pay. 330pm, 666 Great South Road,...
    The Daily Blog | 19-07
  • Referral to the Police – Wayne Walford
    On 21 July 2014, the Electoral Commission referred Wayne Walford, National Party candidate for Napier, to Police for displaying election advertising on a signwritten vehicle promoting his candidacy and the National Party....
    Scoop politics | 22-07
  • RSA condemns downing of flight MH17
    The Royal New Zealand RSA has today denounced the downing of flight MH17, in the Donetsk region of Ukraine, as an act of terror....
    Scoop politics | 22-07
  • EDS joins Trans-Tasman Resources High Court appeal
    “EDS has today filed a notice to join (in opposition) Trans-Tasman Resources (TTR) appeal against the decision to reject its marine consent application to mine ironsands in the South Taranaki Bight,” says EDS Executive Director Gary Taylor....
    Scoop politics | 22-07
  • Over 1100 dead Kiwis
    Research presented to the NZ Defence Force today shows that an average of 16 service personnel have died away from the front line every year since 1945. Add those from the front line and the figure is 18....
    Scoop politics | 22-07
  • Petition to repeal carer legislation presented at parliament
    Today Rachel Noble, Chief Executive of the Disabled Persons Assembly presented a petition, with thousands signatures, to parliament demanding the repeal of the New Zealand Public Health and Disability Amendment Act (No 2) 2013....
    Scoop politics | 22-07
  • Claudette Hauiti to step aside at election
    National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election....
    Scoop politics | 22-07
  • LGNZ welcomes Prime Minister to local government conference
    Local Government New Zealand (LGNZ) was pleased to host the Prime Rt Hon John Key at the 2014 LGNZ Conference today in Nelson. The Prime Minister addressed the audience of 550 delegates including mayors, chairs, chief executives, councillors and senior...
    Scoop politics | 22-07
  • Students Challenge Parliament to Protect Student Voice
    Student representatives on Victoria University of Wellington Council. LEFT: Elected-at-large student representative David Alsop. RIGHT: VUWSA President Sonya Clark....
    Scoop politics | 22-07
  • Flockton basin residents deserve fairness
    It is blindingly obvious that the land in the Flockton basin has dropped because of the earthquake causing increased flooding and flood vulnerability says Labour’s Christchurch Central Candidate Tony Milne....
    Scoop politics | 22-07
  • LGNZ welcomes Labour’s announcement on regional development
    Local Government New Zealand (LGNZ) has welcomed today’s announcements from Leader of the Opposition David Cunliffe on regional development. The Hon Cunliffe launched Labour’s regional development policy to more than 550 delegates at the annual 2014...
    Scoop politics | 22-07
  • Standing Orders Committee: Review of Standing Orders
    The Standing Orders Committee has presented its report on the Review of Standing Orders. The committee reviews the Standing Orders, procedures, and practices of the House and usually reports towards the end of each parliamentary term....
    Scoop politics | 21-07
  • Stop Israeli State Terror – Rally on 26th July, Aotea Square
    The humanitarian crisis in Gaza is getting much worse and the world is marching in unprecedented numbers. New Zealanders spoke out strongly last Saturday with a march of 5,000 people in Auckland (see picture below) – the biggest march ever...
    Scoop politics | 21-07
  • Human Rights Commission welcomes The Way Forward report
    EEO Commissioner Dr Jackie Blue has welcomed The Way Forward report on an integrated system for Intimate Partner Violence, Child Abuse and Neglect. “The Way Forward report is truly a way forward. We’re not starting from scratch, all the jigsaw...
    Scoop politics | 21-07
  • Young people to face MPs in UNICEF NZ Election Debate
    The UNICEF New Zealand Youth vs MPs Election Debate takes place today (22 July) at the Beehive Theatrette providing a unique platform for young people to debate issues of importance ahead of the 2014 general election. UNICEF NZ will also...
    Scoop politics | 21-07
  • Taskforce Welcomed to Curb Excess Local Government Control
    The Taxpayers’ Union is welcoming Prime Minister John Key’s announcement at the LGNZ conference in Nelson to establish a 'Rules Reduction Taskforce'.Taxpayers’ Union Executive Director, Jordan Williams, says:...
    Scoop politics | 21-07
  • LGNZ releases election manifesto
    LGNZ releases election manifesto focusing on the need for strengthening New Zealand’s communities and economies...
    Scoop politics | 21-07
  • Local government celebrates outstanding performance at LGNZ
    Local Government New Zealand (LGNZ) is pleased to announce the winners of the inaugural LGNZ EXCELLENCE Awards, designed to recognise and celebrate the leadership role local government plays within communities. The Awards were presented at a prestigious dinner...
    Scoop politics | 21-07
  • Cocktails for Industry Officials, Squalor for Pigs
    When members of the pork industry meet at their annual conference at Auckland’s Novotel Hotel today, animal advocates are expecting urgent action to address cruelty issues on factory farms. Animal advocacy group SAFE says pork industry officials...
    Scoop politics | 21-07
  • Forest & Bird to mark On the Block campaign at Parliament
    Independent conservation organisation Forest & Bird will hold a photo opportunity at Parliament at noon today to highlight the, unprecedented rights sell-off to frack, log, drill and mine New Zealand’s public conservation land....
    Scoop politics | 21-07
  • NZCCSS calls for government to raise care workers’ wages
    The New Zealand Council of Christian Social Services (NZCCSS) is joining the call for the government to increase funding to the aged care sector to enable fair wages to be paid to workers caring for New Zealand’s older people. “The...
    Scoop politics | 21-07
  • CTU Urges Reserve Bank Not to Raise Interest Rates
    The Council of Trade Unions is calling on the Reserve Bank not to raise interest rates on Thursday. “Another rise in interest rates will raise the dollar further, striking another blow at high value manufacturing industries who are exporting or...
    Scoop politics | 21-07
  • ACT announces Jamie Whyte as Pakuranga candidate
    Dr Whyte was elected ACT Leader in February. Since then he has been travelling around the country meeting New Zealanders and talking about ACT’s key messages of low, flat tax, cutting green tape, getting tough on crime, and “one country,...
    Scoop politics | 21-07
  • Whyte calls on Craig to name his flat tax rate
    ACT Leader Jamie Whyte has hit out at Colin Craig for failing to name his party's suggested flat tax rate. "Page 9 of The Press today is an advertisement for Colin Craig’s Conservative Party and their policy of having two...
    Scoop politics | 21-07
  • The Letter 21 July 2014
    All tax and spend ; Do not add up ; Bad economics ; We have moved to the left ; Being in government was a mistake...
    Scoop politics | 21-07
  • Aggressive phone scam targets Inland Revenue customers
    Inland Revenue is warning its customers to beware of aggressive telephone scammers who are targeting people for money and threatening actions such as deportation and prison if not paid....
    Scoop politics | 21-07
  • A talk on wealth, a rant on inequality, & NZ’s latest stats
    I'm giving a talk in Wellington tomorrow night on wealth in New Zealand: how much of it there is, how it's distributed, and why we should be talking more about it. It's at 5.30 at Connolly Hall in Thorndon, and...
    Scoop politics | 21-07
  • Growing Up in New Zealand Report exploring vulnerability
    The Chief Executive of the Families Commission says the Growing Up in New Zealand (GUiNZ) report released today is the first step towards developing a greater understanding of vulnerability in the New Zealand context....
    Scoop politics | 21-07
  • Christopher Giddens Struck off
    The New Zealand Lawyers and Conveyancers Disciplinary Tribunal has ordered that Christopher Giddens be struck from the Roll of Barristers and Solicitors....
    Scoop politics | 21-07
  • Downing of MH17 shows the Ukraine crisis is a global issue
    The downing of Malaysian airlines’ flight MH17 clearly shows the Ukraine crisis is not a local or regional affair, it is a global issue and the world community needs to help the Ukraine, University of Canterbury Ukrainian expert Associate Professor...
    Scoop politics | 21-07
  • NZEI supports Green party’s commitment to quality ECE
    NZEI Te Riu Roa is welcoming the Green Party’s plans to boost the quality of early childhood education by restoring funding for centres with 100 percent qualified staff....
    Scoop politics | 21-07
  • NZ First Tax Policy Breaches the China FTA Peters Signed
    Reacting to New Zealand First leader Winston Peters’ policy announcement to introduce a capital gains tax on foreign owned homes and assets, Jordan Williams, Executive Director of the Taxpayers’ Union says:...
    Scoop politics | 21-07
  • Interview with Metiria Turei
    We believe that the Green Party and Labour can work together. After the election, we will look at our shared goals and where we can work together to achieve positive goals for New Zealand....
    Scoop politics | 21-07
  • NZ First GST Policy Not Thought Through
    Reacting to New Zealand First leader Winston Peters’ policy announcement to remove GST on food, Jordan Williams, Executive Director of the Taxpayers’ Union says:...
    Scoop politics | 21-07
  • KASM to fight seabed mining decision appeal
    Kiwis Against Seabed Mining (KASM) today notified the High Court of its intention to join the EPA in opposing an appeal by Trans Tasman Resources against the EPA’s decision to refuse consent for the country’s first seabed mining proposal....
    Scoop politics | 21-07
  • MANA Policy Statement- Economic Justice
    A just economy is one where everybody is able to afford the cost of living and enjoy a decent quality of life. In a just economy, tax rates are fair. Those who earn more pay a higher proportion of their...
    Scoop politics | 21-07
  • Waitangi Tribunal Releases Its Report on the MV Rena
    In its interim report released today, the Waitangi Tribunal has found that the Crown’s conduct in response to the grounding of the MV Rena on Otaiti (Astrolabe) reef breached the principles of the Treaty of Waitangi....
    Scoop politics | 21-07
  • Wairoa District Council Should Not Be Gagging Staff
    Reacting to the Dominion Post article that the Wairoa District Council has removed council staff members' personal submissions on the Council's annual plan, Taxpayers' Union Executive Director, Jordan Williams, says: “Staff making personal submissions...
    Scoop politics | 21-07
  • Xero CEO shares ideas on transforming local economies
    Xero CEO shares ideas on transforming New Zealand’s local economies Cloud-based accounting software firm Xero could be based anywhere in the world but Chief Executive Rod Drury keeps the company’s head office in Wellington....
    Scoop politics | 21-07
  • ‘Pay Up or Lose Licence’ Message Is Getting Through
    Coromandel MP Scott Simpson says fine dodgers are finally paying up since the introduction of strict new rules for traffic offenders. Scott Simpson MP says ‘People who get caught breaking traffic rules now have two choices - pay up or...
    Scoop politics | 21-07
  • Petition for new nurse graduates
    Today the New Zealand Nurses Organisation is launching a petition aimed at achieving a nurse entry to practice (NEtP) position for every new grad nurse. New Zealand is facing a significant nursing shortage over the next decade. We need to...
    Scoop politics | 21-07
  • Local government discusses how we can spread wealth
    Opportunities and risks arising from New Zealand’s changing regions were explored today at the Local Government New Zealand conference in Nelson. Shamubeel Eaqub, Principal Economist at the New Zealand Institute of Economic Research, delivered...
    Scoop politics | 20-07
  • FTC Calls for Rational Dialogue Regarding Gaza
    The Free Thinking Coalition (FTC) urges New Zealanders who are engaged in dialogue regarding the situation in Israel and Palestine to think rationally about issues confronting the Middle East....
    Scoop politics | 20-07
  • Craig says Peters should Come Clean
    Conservative Party Leader Colin Craig says "Winston Peters should come clean and declare where he is standing, who he will work with, and what his bottom lines are."...
    Scoop politics | 20-07
  • Democrats for Social Credit announces Party List
    Democrats for Social Credit Party Leader, Stephnie de Ruyter, today announced the line up of the Party’s candidates and list rankings for the forthcoming election. The party will field thirty electorate candidates and four list only candidates....
    Scoop politics | 20-07
  • Economic Growth And Jobs Are Key Priorities
    A new report highlights the major concerns for Mayors and Chairs A report, based on the findings of a recent survey, identifies what Mayors and Chairs of local authorities think are the major issues facing their communities and organisations. Commissioned...
    Scoop politics | 20-07
  • LGNZ conference 2014: President’s opening speech
    LGNZ conference 2014: President’s opening speech Ladies and gentlemen, the Hon Paula Bennett and particularly our Members, New Zealand’s 78 local governments, this year’s theme: Powering Local Economies | Building Vibrant Communities, is...
    Scoop politics | 20-07
  • LGNZ announces partnership with FairWay Resolution
    Local Government New Zealand (LGNZ) today announced a significant new partnership under EquiP, its Centre of Excellence....
    Scoop politics | 20-07
  • Local government votes on three important matters
    Local Government New Zealand (LGNZ) members have voted on three remits about topical and important matters for the sector at the 2014 LGNZ Annual General Meeting, held at Nelson. The first remit was a request that LGNZ advocate to the...
    Scoop politics | 20-07
  • Ngapuhi Supports New Maori Language Strategy
    Te Runanga-a-iwi o Ngapuhi strongly supports the Minister of Maori Affairs’ new Maori Language Strategy....
    Scoop politics | 20-07
  • Disrupt And Mobilize to Advance the Cause of Young Kiwis
    Disrupt And Mobilize to Advance the Cause of Young Kiwis Basketball, street dance and hip-hop events staged during in the two-week advance voting period in the lead-up to the general election is how Internet MANA plans to get more young...
    Scoop politics | 20-07
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