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Who wants some Genesis shares?

Written By: - Date published: 7:20 am, November 21st, 2013 - 120 comments
Categories: privatisation - Tags:

So, Mum and Dad Kiwi, you listened to the multi-million dollar ad campaigns and the years of propaganda from National, and you bought shares in one of their asset sales. How are you doing so far?

Don’t listen to English, who claims you haven’t lost anything unless you’ve cashed up – that’s the same as saying your house or your Kiwisaver isn’t worth anything until you sell or draw down, and it’s not how English accounts for the value of shares on the government’s books.

Let’s look at your losses.

Mighty River:

You bought at: $2.50 per share
Average retail purchase: $8,220 (3,288 shares)
Dividends received: 7.2 cents per share, $236 for average retail shareholder
Change in share value: -40 cents per share, $1,315 for average retail shareholder
Net loss: $1,084 for average retail shareholder, $5 each day since listing

Meridian:

You bought at: $1 per installment receipt
Average retail purchase: $16,000 (can’t find exact)
Dividends received: $0
Change in share value: 0 cents
Net loss: $0, $0 each day since listing

Air New Zealand:

You bought at: $1.65
Average retail purchase: Nobody knows
Dividends received: $0
Change in share value: -8.5 cents per share, $510 per $10,000 of shares
Net loss: -$510 per $10,000 of shares, -$510 each day since listing

So, who wants to buy some shares in Genesis?

120 comments on “Who wants some Genesis shares?”

  1. amirite 1

    Mum and Dad Richwhite can’t get enough of them. They want moar! Because they know who’ll pay for the losses.
    Mum and Dad True Kiwi are just struggling to survive till the next paycheck and watching helplessly as the country is being sold cheaply to the 1%.

  2. chris73 2

    I’m quite pleased so far, because the dividends I’ve received thus far is more then what I’d receive from the bank in interest so I’m better off

    and I follow Warren Buffets rules on investing which include running from air lines as fast as you can not that you can compare Air NZ to power companies of course (but then you already knew that)

    [chris73… ummm, so you’re saying that you’ve bought Mighty River shares and you feel it’s gone well?

    You say you got more in dividends than you would have from interest in the bank… would you have lost some of your principal investment if you had put the money in the bank? No. You have with MRP.

    Honestly, you cannot just ignore the change in the value of your shares. That’s insane. It’s not how the government or any company or any sane household accounts for their non-cash financial assets. What do you do? Just write off the cash you put into buying the shares and count any money you get when you sell them as a windfall? JH]

    • Lanthanide 2.1

      “You say you got more in dividends than you would have from interest in the bank… would you have lost some of your principal investment if you had put the money in the bank? No. You have with MRP.”

      Not really. You only lose your principal investment if you sell the shares.

      • Lightly 2.1.1

        No, that’s moronic. Cash isn’t the only store of money, it’s just the most liquid.

        How much is your house worth? Nothing? That’s what you must believe its worth if you don’t account for the value of your non-cash assets and changes in those values.

        • Lanthanide 2.1.1.1

          My house might be worth nothing but I still own it.

          You only lose the investment in your house if you sell it (or it’s destroyed in some manner, I guess).

        • Francis 2.1.1.2

          My house provides a roof over my head. Why should I give a crap what some real estate agent promises to give me for it?

          I value having a roof over my head far more than a couple of ones and zeros on some massive server in Australia.

          The sooner people start viewing their homes as places to live in rather than a dollar value, the better…

      • toad 2.1.2

        I’m sure the people with properties in red-zoned Christchurch areas really appreciate that argument [/sarcasm]

    • Draco T Bastard 2.2

      chris73 is correct, he gets the benefit of being a parasite on the rest of us for the rest of his life. A pretty good deal for him as he now gets an income from not having to work.

    • chris73 2.3

      Well yes I can because I havent sold any shares and I won’t be selling any shares in the future so the price of shares is of little interest to me

      Would I like them to go up, sure, but I ain’t bovvered that they’re not

      I know you want to push the line that this is bad for investors and I commend you for that but that truth of the matter is I’m getting more in dividends then I would be with the money in the bank

      • One Anonymous Knucklehead 2.3.1

        The “investors” were those who paid to build these utilities. You people are parasites. How does your “investment” add value to the company? Will it increase the number of customers? Or the water in the dams?

        Pfft.

        • BM 2.3.1.1

          It frees up money which then can be used in other important projects such as highway construction.

          • Draco T Bastard 2.3.1.1.1

            Actually, no it doesn’t. It actually removes money from the government to do those things because it no longer has the ongoing income to do them.

      • rhinocrates 2.3.2

        So chris73, how many elderly women have swooned over your penis lately? You like to tell us how much they admire it.

  3. tricledrown 3

    C73 when the fed slows its printing press you loose even morre.
    Cut off your pinokeynose to spite your face.
    It goes to show how shallow the
    Hollow men are.
    C73 you are a victim of your own ignorance can’t recognise fact from reality get some help before you loose anymore money haven’t you heard the stockmarket is a casino gamblaholics anonamous.
    Next you will be telling us the money you lost at the casino is a good investment because the National party said so.

  4. Peter 4

    OK, so who can rap this all up in and 10 second TV1 sound bite that brings in the swing voters not the converted?

    • Tat Loo (CV) 4.1

      “National’s asset sales: a bad deal for NZ, a bad deal for you, a bad deal from John Key.”

  5. wyndham 5

    On top of all that, didn’t Mum and Dad Kiwi own the assets in the first place ? Before they were ‘sold’ back to themselves ?

    Asset sales will go down in NZ history as one one the biggest political confidence tricks ever perpetrated upon a gullible public. From a snake oil trickster without moral principle.

  6. T 6

    Based on the numbers above, the average investor in MRP made a 2.9% return on their investment from the dividend. That is around the same as the current term deposit rate. Those investors would make the $1000 loss only if they chose to exit.

    MRP has declared an increased dividend for the past three years, and there is no reason to expect that this will change, so those investors are likely to keep getting a return on their invested funds at a rate higher than in the bank.

    If they were in it for a capital gain, then , I agree they will get stung. But I have been led to believe that capital gains are evil, right?

    • Tat Loo (CV) 6.1

      “MRP has declared an increased dividend for the past three years, and there is no reason to expect that this will change”

      Never heard of NZ Power, silly billy.

      Anyhow, why do you think that returns similar to a “term deposit rate” are satisfactory, when term deposits have a much lower risk profile than share investing? Same return for more risk…is that your investment philosophy?

      • T 6.1.1

        In regards to term deposits, that 3% figure based on a TD is a proxy to represent opportunity cost – the minimum forgone opportunity by having funds tied up in one particular use. I make no comment on the risk/return equation, what I am saying is that currently the investment is not losing money compared to a given alternative use.

        In in regard to the dividends I guess you are right. If that the case and NZ Power stops dividends, the majority shareholder is really going to lose some income when the dividends stop coming…. oh wait…

        • Tat Loo (CV) 6.1.1.1

          So you refuse to comment on the increased risk profile. I presume your politics prefers the Govt extracting lower taxes…so why do you have a problem with the government extracting less profit from the private sector?

        • you_fool 6.1.1.2

          “In in regard to the dividends I guess you are right. If that the case and NZ Power stops dividends, the majority shareholder is really going to lose some income when the dividends stop coming…. oh wait…”

          Of course that majority shareholder will supplement that lost income from another source, and kiwi mum and dads will have lower costs, which will supplement their loss in income, assuming of course the minority shareholders are all kiwi mum and dad’s, like John Key said they would be….

          Sounds cost neutral to me!

    • Naturesong 6.2

      You know they are borrowing to pay those dividends right?

    • Lightly 6.3

      you’re ignoring the loss in the value of the shares.

      Let’s put it in terms you can understand:

      Joe Stoner spends a $1000 buying some plants from his mate. He sells some weed for $29 – a 2.9% return on his investment. Unfortunately, a blight destroys 16% of his plants, so he could only onsell the plants he has left for $840.

      Joe started with $1,000. He now has $840 of plants and $29 cash left. He is down $131.

      At least, that’s the logcal way to look at it.

      The way you want to look at it is: Joe’s $1,000 of wealth disappears into thin air when he buys the plants, the plants have no value (until you sell them) and any cash he makes from selling weed is the only thing he needs to worry about – not the fact that he’s lost 16% of his investment.

      • T 6.3.1

        Correct, I am ignoring the loss in value of the shares.

        Your analogy is a bit wrong here because the $1000 investment is going into a commodity, where the value is the commodity itself, and can only generate a return if sold. The dak istelf cannot generate a return any other way.

        But if Joe brought a tractor to help him tend to his dak, then the tractor can generate an income on its own (he lends it to his neighbour for a fee). He could sell the tractor (to make a capital gain), but his stoner mate crashed it into a tree and its now a bit bent and only worth half of what he paid. But that doesn’t affect its utility – he can still generate a return off it even though it has a greatly reduced market vale.

        • Naturesong 6.3.1.1

          In your analagy the stoner mate crashing it into the tree would represent the company value being harvested by reducing maintenance, or stripping assets whicle still demanding the same rental on a reduced service?

          The reduced value of the tractor when you tried to sell it would be the your local farmers (the “market”) knowing that you skimped on maintenance / drove your tractor into ditches occasionally etc …?

          Also, it’s now second hand, and they’re not going to want to pay sticker price.

          Neither of these are good analogies

          • infused 6.3.1.1.1

            Love how you guys twit everything. Bit like CV. Wonders why no one bothers replying to him.

            This post is stupid and shows how retarded some people are on this site.

        • Lightly 6.3.1.2

          when you sit down to work out your household accounts (even if you don’t do that, let’s pretend you do), what do you book the value of your shares at?

          The issue price? Maybe just ‘?’?

          Does the same rule of not accounting for changes in share value apply if they go up?

          How can you make rational decisions on the allocation of your investments if you don’t accurately account for the value of those investments?

          • you_fool 6.3.1.2.1

            Don’t worry, you only not count the value of shares if they went down, if the value had risen then we would be being told how much everyone had made from the purchase of the shares.

            The biggest swindle is the lie that buying the shares at the opening price was a good deal, it is shown to be the worst deal (except for Meridian, since you got a discount and the share price hasn’t changed). Basically anyone who brought MRP or Air NZ shares at opening price is a sucker.

            Basic market play 101 – buy low sell high.

  7. Tat Loo (CV) 7

    Commission. You lose another $40 or so buying/selling to the ticket clipping broker. Someone add that in to the losses please…

  8. rich the other 8

    Proof the NAT’S weren’t looking after their mates after all.

    • Tat Loo (CV) 8.1

      Well actually, who made hundreds of millions from the deals.

      Yes that’s right, the parasitic investment banking and financial markets fraternity.

      • rich the other 8.1.1

        More likely NZ citizens are the biggest winners, it seems they have been well paid for the minority stake that they have sold in these assets.

        • framu 8.1.1.1

          We have shares that have rapidly devalued, cost blowouts (which have mostly gone offshore), windfall contracts for finance industry players, patheticly low up take by the mythical “mum and dad investor”, ongoing and deepening negative impacts from the reduced dividend stream, an abandonment of public oversight on the remaining 51% and a financial result way down on the hype

          its not a success for the govt and its not a success (yet) for those who bought shares

          if thats your idea of success then theres really not much more hope for you

        • Naturesong 8.1.1.2

          And all they’ve given up is the ability to plan and build infrastructure to meet the country’s power needs over the long term.

          They are utilities which are critical to the economic wellbeing of New Zealand.
          The national government has lost every single argument they have put forward in support their position.

          All that’s left now is to make sure they pay for their hubris at the ballot box, and then try to minimise the damage.

      • fappity 8.1.2

        A bit like Westpac who the Nats and Labour have used as the governments bank of choice for IRD payments etc ?

        Who will labour choose when they get in to do this work for them ?

        • framu 8.1.2.1

          thats some PR gold for labour – i doubt many people would be that upset if the govt stopped using an aussie bank to do their business

          it has “proud NZ” stamped all over it and the govt contract would likely produce the extra capital kiwibank needs

          its cost neutral and achieves two good aims

          note: i may have the capital raising thing wrong – happy to be corrected there

          • King Kong 8.1.2.1.1

            Kiwibank can’t handle the business.

            I am pretty sure this has been looked at before and Kiwibank weren’t up to it.

            • framu 8.1.2.1.1.1

              to be honest – i dont know.

              so happy to be corrected. Anyone out there know for sure?

              • Naturesong

                As far as I can tell from the reporting, as they started to define the scope for the tender they realised it was going to turn into an absolute monster. It’s still stuck with MBIE
                No tender document has yet been released

                And yes, in it’s current state, kiwibank is unlikely to have the capacity to handle the volume and complexity. But, thats just a guess. I’m not in the industry.

                edit I see alwyn has the article

        • alwyn 8.1.2.2

          It won’t be Kiwibank, that’s for sure. They are on record that they could not handle the scale of the operation and that the only banks who could are the four big Aussie owned banks.
          http://www.stuff.co.nz/business/industries/8825146/Kiwibank-not-after-Govt-business
          Oh well

    • Lightly 8.2

      the lawyers and brokers and ad men and Rio Tinto have made $250m off this so far.

  9. ianmac 9

    To me it is like losing equity on my house. Losing equity on shares seems similar.

    • Naturesong 9.1

      Except you no longer have control over whether or not you can repair your house should it sustain damage.

      Want to build an addition?
      Sorry, can’t do that anymore, rent return is now the most important thing, not whether it is a secure, safe and warm house.

      • you_fool 9.1.1

        The do have a say in it, it is just a say that is proportional to the amount they own, and they need to take everybody’s opinion into account if they do want to make changes, and can’t unduly upset anyone by making the changes, and even if they want it is possible the people that are in charge of making the changes will not want to and will do something else anyway

    • you_fool 9.2

      Actually it is a good analogy, but it is a rental investment not your primary residence. Go ask an accountant how they would value it, though any good financial advice would be to not sell because it would make you worse off, so the people arguing for ignoring the value of the shares are right to an extent, they have made a loss, but for the moment they can live with that if the income stays at least as much as it currently is, if it drops for any reason then it may be time to cut losses.

  10. The Gormless Fool formerly known as Oleolebiscuitbarrell 10

    But I thought they were flogging off valuable assets to their rich mates.

    This makes it sound like they were hoodwinking mum and dads by selling them shit at an undervalue.

    Good assets or bad?

    Wealthy foreigners or poor duped mums and dads?

    • framu 10.1

      1) this has already been answered
      2) mums and dads werent the main purchasers
      3) the people who worked on the process made a killing
      4) energy producing assets are widely recognised as things that will become of increasing strategic importance

      yes the shares decreased in value – but if you have enough resources to buy a lot both on the initial sale and into the future and hold on to them your probably going to do rather well from the deal

      • The Gormless Fool formerly known as Oleolebiscuitbarrell 10.1.1

        You better tell James. He thinks people have been ripped off.

        • framu 10.1.1.1

          you should actually read

          • The Gormless Fool formerly known as Oleolebiscuitbarrell 10.1.1.1.1

            I am just trying to get your story straight for you.

            Is this what it is now: National sold the shares so that investment bankers would get rich through the sales process and ripped off New Zealand mum and dad investors in order to do so. As a consequence, the government got more for the assets than they were worth.

            • framu 10.1.1.1.1.1

              why? theres no need for you to get my story straight for me as ive already made my position pretty damn clear across a number of comments.

              So stop putting words in my mouth and do some bloody reading

              ——————-
              We have shares that have rapidly devalued, cost blowouts (which have mostly gone offshore), windfall contracts for finance industry players, patheticly low up take by the mythical “mum and dad investor”, ongoing and deepening negative impacts from the reduced dividend stream, an abandonment of public oversight on the remaining 51% and a financial result way down on the hype

              its not a success for the govt and its not a success (yet) for those who bought shares
              ———————

              Like i said – you should acutally read

              • The Gormless Fool formerly known as Oleolebiscuitbarrell

                I will read your comments carefully when you learn to punctuate properly.

                We have shares that have rapidly devalued

                So the government sold its shares just in time. Mint.

                patheticly [sic] low up take by the mythical “mum and dad investor”

                The point of James’ post is that mums and dads have been ripped off. Not a problem, you reckon? Or is James concerned that institutional investors have been ripped off? Good luck with that meme.

                ongoing and deepening negative impacts from the reduced dividend stream

                But, the opposition’s plan for these assets is that they generate no return at all. Did I miss your criticism of that? Or are the deep negative impacts of the reduced dividend stream somehow not a problem in that scenario?

                an abandonment of public oversight on the remaining 51%

                What on earth are you on about?

                a financial result way down on the hype

                And what, exactly, would you have been saying if they shares had risen in value after sale? That the crown had been ripped off? The assets sold cheap to the government’s rich mates at an undervalue? Unfortunately for you that’s a better story than the one you’re trying to sell now.

                • framu

                  “I am just trying to get your story straight for you.”

                  “The point of James’ post”

                  exactly which story are you on about?

                  your going on and on about MY story in one comment then going on and on about JAMES’ story in the next

                  which is it?!

                  Your point by point bit only shows that you have comprehension issues – vast comprehension issues. You cant seem to remember whos saying what, what something refers to or even if two things are related.

                  EG – “a financial result way down on the hype” – i would have thought that seeing as ive already mentioned share value that im talking about the amounts generated by the sale are nowhere close to what the govt claimed they would raise.

                  so the shares were sold at too high a price and even then they still didnt live up to the hype. What a spectacular friken success!
                  From that aspect alone its a tragic failure. And yes, if the share price had gone up that would also be an indication of failure because the whole thing is driven by ideology and not sound economic rationale. Two opposite things can still both be shit

                  my whole point is that when you add ALL the items i mentioned together its not a success, not even a tiny little bit
                  And frankly i will punctuate badly all i damn well please. Your not my mum and last time i checked no one has to listen to the grammar pedants

                  • BM

                    Face it, you got destroyed.

                    • framu

                      considering ol barrel has failed to answer a single point ive made i dont quite see that

                      could you explain just how i got destroyed?

                      go on, im waiting

                  • The Gormless Fool formerly known as Oleolebiscuitbarrell

                    You mean: “you’re not my mum.”

                    • framu

                      you mean “i dont have anything else to nit pick over”

                      its telling that your failing to address anything ive put to you and your focusing on an apostrophe instead

                      well done! qaulity effort!

                      OOhh lOOk – pooR puncTuationz! -

    • Tat Loo (CV) 10.2

      Key’s investment banking mates already made a shit load. And when you go to sell your money losing shares they’ll make off the commission too. See how the parasitic financial sector works?

      • King Kong 10.2.1

        Just like those guys who peddle alternative healing techniques that don’t work to vulnerable people in real pain.

        Actually your choice of political ideology fits perfectly with your job.

        [lprent: Ok that is pure diversion that has nothing to do with the topic or the comment you are responding to. Looking through your comments today I can see just one that is vaguely on topic. All of the others seem to have been put in purely as a derail.

        Enough with the warnings. Banned permanently. ]

        • framu 10.2.1.1

          i would say that those peddlers are roundly despised across the board. Its not a left right thing

          so not that good an analogy perhaps?

          • King Kong 10.2.1.1.1

            I think you may have missed the fact that this is what Tat does as a profession and still has the lack of self awareness to call bankers parasites.

            • framu 10.2.1.1.1.1

              quite possibly – i have no idea what tat does

              • Naturesong

                Chiropractor, hardly “alternative” healing. It’s not homeopathy – apologies to those that believe homeopathy actually works (placebo effect as far as I can see)

                Chiropractors have helped me in the past, and one I used to see in Sydney was a particularly gifted healer.

                These days I see an osteopath, as I’ve met a few chiropractors who really weren’t up to scratch.

                • framu

                  thanks nature – i suspected a case of definition shift might have been in play

                  see – i was thinking of homeopathy when the term alternative healing was used

                • Colonial Viper

                  Naturesong :)

                  Rack, stack, crack, I’m a beef stamper extraordinaire :D

  11. King Kong 11

    Did you know that if you had bought Microsoft shares when they listed in May 1986 and looked at their value on October 1, 5 months later, you would have been horrified to find that the stock price was down 18% and of course would have written the float off as an abject failure.

    In comparison to Mighty River, if you had bought $8220 of stock you would have lost about $1480 with Microsoft.

    What I am trying to establish is the absolute dick headishness of picking an arbitrary date on which to announce the float of a company as a success or failure.

    The only people affected by the dip in price is those who entered with an investment strategy of short term speculation and I thought you chaps hated those guys.

    These companies have pretty sound fundamentals and barring the Greens fucking up the market with their school boy plans, they will do pretty well.

    I personally have just scooped up a load of MRP at the low. Cracking buy with 7-9% dividend.

    Lets talk about share prices after the election next year when the chance of Green fuckwits at the helm has been put to bed for another 3 years.

    • framu 11.1

      the measure of success or failure isnt about the share price in isolation though is it. So while your point about arbitrary dates is correct in and of itself, its woefully simplistic and narrow when looking at the entire scheme and its good or bad effects

      We have shares that have rapidly devalued, cost blowouts (which have mostly gone offshore), windfall contracts for finance industry players, patheticly low up take by the mythical “mum and dad investor”, ongoing and deepening negative impacts from the reduced dividend stream, an abandonment of public oversight on the remaining 51% and a financial result way down on the hype

      do you call that success? – for anyone?

    • Naturesong 11.2

      Because a volitile tech company trying to create a new market for itself is the same as a utility which gets monopoly rents?

      I don’t think you should give advice on the share market. You clearly have no idea what your talking about.

      Your rise in share value is predicated on power companies being able to fleece the NZ public.

      It’s not a winner politically. Unless you truly belive that the only way to succeed is on the backs of other peoples misery

      The true cost of selling infrastructure that is essential to the economic wellbeing of NZ is not the revenue stream, but the destruction of the ability to plan long term domestic energy policy.

      • King Kong 11.2.1

        Do you know how I know you are a financial illiterate?

        What about if there is an increase in demand? You know, from things like population and economic growth.

        Now that is a scenario that doesn’t fit your left wing fatalism.

        • Naturesong 11.2.1.1

          Do you know how I know you are a financial illiterate?

          From someone that thinks a startup tech company is the same as power company?

          Pivate companies, in seeking to make the most efficient use of supply will delay the construction of power generation, and when they do, will seek to create the cheapest power generation.

          So look for brownouts when demand increases to maximum capacity.

          And when they wish to build new generation, watch them lobby for coal fired plants.

          You really have no idea.

          Left or Right wing.
          I’d settle for a government that wasn’t corrupt and incompetent.
          That used science and evidence in creating policy.
          That governed for the betterment of New Zealand people as a whole, not just a small section.

          Btw, I think the shares were sold under value. But some of the companies worth was destroyed when they were placed on the share market; namely, they used to be accountable to a democratically elected body, so good governance should be of prime concern (though you wouldn’t know it having watched English, Ryall and Key run Solid Energy into the ground)

  12. infused 12

    Maybe, if retards were after short term gains.

    • framu 12.1

      how much do you want to bet that thats exactly what a lot of the new to the share market mum and dad investors (of which there werent that many) thought exactly that?

      considering that getting these new to the share market types to buy was the big sell and one of the main reasons used to justify the sale the share price argument does carry some weight (even though its a dumb position to take when buying shares)

      • infused 12.1.1

        Oh bullshit. Don’t be so nieve.

        • framu 12.1.1.1

          whats bullshit

          1) would you agree that there are some people out there who are staggeringly underinformed on not just financial matters, but the share market specifically?

          2) are you saying that attracting people who had never invested in the share market wasnt one the arguments put forward by national to argue for the sale?

          both of my statements are pretty benign, so quit being being all bitchy about it. Maybe explain yourself instead of chucking one line insults out there

    • Lightly 12.2

      looks like they’re getting short and long term losses.

    • Tracey 12.3

      The people who can get in pre-opening sale orders do make good short term gains if the price spikes immediately after opening. Of course these customers have tens of thousands of shares and much lower brokerage to pay. But average shareholders such as “mum and dad” dont have the opportunity or the lower fees.

  13. Tracey 13

    In my experience people who can only afford a few thousand dollars worth of shares tend to hang onto them for a few years. The brokerage fee means it takes a while for any gain to surpass outlay.

    The people who would already have made money might have bought HUGE lots in the first one and had sells in at opening (which most mums and dads cant achieve) and when the price MRP spiked briefly on day one, they sell them down and take the quick profit.

    I agree that by buying shares you have already lost the use of the money, so provided the shares do actually rise above our original purchase price in due course you have lost nothing but time and the further use of your money.

    As an aside has the government stated where the proceeds for each sale went, to cover their mandate for paying down debt and increasing school and hospital funding?

  14. dv 14

    Contact has returned about 5-6% pa over 13 years

    About bank rate average.

  15. wtl 15

    Of course the change in the Government’s books following the MRP and Meridian sales is also pretty dire:

    MRP was independently valued by Macquarie at $3.74B in 2011. The estimated valuation in the year ending June 2012 was $3.91B. The shares were sold at a $2.50, at the mid-low end of indicative range of $2.35-$2.80. The sale of 49% raised $1.72 billion, which is $200M less than the $1.9B they should have sold for given the valuation.

    Meridian was valued at Macquarie at $6.53B in 2011, with the estimate valuation in June 2012 being $6.58B. The shares were sold at $1.50, at the very bottom of the indicative price of $1.50 to $1.80, raising only $1.88B which is a $1.34B less than the $3.22B expected given the valuation. This was even after the government provided investors with interest-free loans to purchase the shares.

    Note that the amounts are BEFORE sale costs are subtracted, and when these are accounted for it looks even worse.

    • Balanced View 15.1

      …and the valuations were BEFORE the oppositions NZ Power policy was announced. So very difficult to say what impact the share offer had.
      Of course all of this is arbitrary, any reduction in value is not really relevant in any argument the opposition are making.

  16. Rich 16

    Also, 1.5% brokerage commission. And dividends are taxable, with capital losses not available for offset (because capital gains aren’t taxable, if you make any).

    • dv 16.1

      Rich
      (because capital gains aren’t taxable, if you make any).

      Partly wrong.
      Gains and losses are taxable if you trade.

  17. TightyRighty 17

    Can’t wait for the inevitable post combining john keys mates got rich when the share price goes up. This post just demonstrates the economic illiteracy of commentators on the left.

    • Arfamo 17.1

      Can’t wait for the inevitable post combining john keys mates got rich when the share price goes up.

      Speaking of illiteracy, what does that actually mean?

    • framu 17.2

      cant wait for you to actually make an argument

      go on – prove just how economically literate you actually are for a change, instead of slinging poo from the cheap seats

      • TightyRighty 17.2.1

        I make plenty of arguments. see below. the mobile version of this site truly sucks however. old version was way better.

        Still waiting for you to talk some sense rather than regurgitating the poo thrown at you by more intelligent people.

        • One Anonymous Knucklehead 17.2.1.1

          Your assertions of the Left’s economic “illiteracy” (sic), aside from the obvious, make me wonder if you live in New Zealand.

          I can recall how the fifth Labour government was the sky falling on your head and everything, but not everyone lives on Planet TightyRighty.

        • framu 17.2.1.2

          “Still waiting for you to talk some sense”

          seems like im repeating myself

          ———————

          the measure of success or failure isnt about the share price in isolation though is it. So its woefully simplistic and narrow when looking at the entire scheme and its good or bad effects

          We have shares that have rapidly devalued, cost blowouts (which have mostly gone offshore), windfall contracts for finance industry players, patheticly low up take by the mythical “mum and dad investor”, ongoing and deepening negative impacts from the reduced dividend stream, an abandonment of public oversight on the remaining 51% and a financial result way down on the hype

          do you call that success? – for anyone?

          ———————

          does that make enough sense for you? Is it in a format you can understand?

          ooh – your trying to discredit my intelligence. Sure i dont know everything, and im happy to point out the topics where im aware im not fully up to speed. But you mate, make some real clangers so i wouldnt be going around trying to assume some smarter than thou pedastool (yes the misspelling is deliberate)

  18. Tim 18

    As soon as I saw this post, I thought if I delve into it – I could expect the presence of the trolls – sure enough ……
    Actually, I want my 4 – point something or other millionth part of my existing ownership back because I didn’t give my duly elected representative to sell them on my behalf.
    They simply made assumptions, and took them.
    I expect them to be moaning like hell (squealing like pigs being stuffed) either in 2014, but if not 2017. OR maybe as soon as an opposition (you know, that thing that supposedly protects any democracy) sorts its shit out.
    Really what it boils down to though is just how hard a ruling junta wants fall.
    Right now I’m thinking they have the brashness and ego of a Mussolini. Worked out just fine and dandy for him and the missus aye!
    But yea but nah

  19. TightyRighty 19

    Framu, the lowing sound emanating from you reminds of a cow. Hence I get your nickname.

    If ma and pa decided to invest in the stock exchange, and their shares go down, their book value is lower. But that is how the market perceives the value of the shares. Likewise if the market perceives them to be undervalued and starts purchasing them, the value value of the shares increases. The government beat the market in the share valuation at that point in time. Clever government.

    Basically, if you can’t afford to lose, you don’t invest. I don’t like fixed assett companies, so I didn’t invest. But I did just throw $30k into another company that yesterday dropped .81% in value. I’m not crying about it, I bought the shares as I expect them to appreciate in value. Small losses on a day don’t matter. Anyone who bought shares expecting a guaranteed return is an idiot.

    Though I suspect the book value of the mighty river shares when you factor in the present value of the bonus shares is quite different to what James managed to calculate. Intentional or illiterate. Probably a bit of both

    • TightyRighty 19.1

      the end of the second paragraph should read

      “small losses on a day don’t matter, it’s the long term that counts if you aren’t actively trading on a day to day basis. It’s a gamble however, anyone who bought shares expecting a guaranteed return is an idiot, it’s always a gamble.”

      • framu 19.1.1

        but did you notice that im talking about the whole picture and not just the share value in isolation?

        So yeah – try again

  20. Treetop 20

    Who’d want some Genesis shares?

  21. Ad 21

    My wife and I spent a while humming and harrrring about whether to buy and what to buy of the floats, with amongst others a nationalist filter.

    In the end we didn’t . What we did was change banks to Kiwibank, and got an offset mortgage in which the savings keep building but they are offset against the mortgage. The deal is we pay no mortgage interest, and we don’t get much interest either.

    We worked out in short that even with spare savings, our savings money worked hardest when it paid off our mortgage faster.

    Won’t work for all circumstances, but it worked for ours, and we get to enjoy the schednfreude.

  22. Old Tony 22

    You people are sooooo confused. How can it be a fire sale to the 1% when the shares are now worth less than floated? The Government has done fine by the 99% by getting more for the shares than they are worth.

    Are you not impressed by this given you despise the 1% so much? Should you not be celebrating?

    • McFlock 22.1

      Pyrrhic victory, at best.

    • One Anonymous Knucklehead 22.2

      The Left hates the 1% so much they always get wealthier under Labour governments. Yes they do, which just goes to show that Old Tony may be long in the tooth but, in keeping with the ongoing intellectual degradation of the Right, he’s short on the facts.

      The Left’s goal of a lower GINI benefits everyone, even those who are so poor they can only measure their wealth in money.

  23. National Party MP 23

    OK Here is my cock sucking fucking wanking cums stain CV for some cum satin wankin FuCKING JOb.

    What you want me to do for your company.

    Yeah sure I can do that.

    Wank on your face

    Sweet.

    Kick you in the head?

    No problem

    Drink your Piss?

    Sweet?

    Punch you until you give me your money then lock you at your work and leave?

    COOL

    Can do?

    Your a cock sucker for even reading this CV so suck my cock.

    Best skill sets,

    wanking.

    5 years of wank study under a wanker

    2 years waking behind a door.

    INterests listning to cock suckin Politicans suck my cock and wwacking on their head.

    Music.

    Fuck off you cock

    Wages wanted shit loads. I will just write a number down each week and you pay it and say sorry for not een paying it yet.

    [lprent: Don't know who this is or how it got through first time moderation. But there are quite a number of reply comments on it. As karol says leave it as an example of what usually doesn't make it through first time moderation. In the meantime I'll auto-spam the author (whoever you are). ]

  24. Ian 24

    I like a good bet and am now the proud owner of a very small part of Mighty River Power and Meridian energy. I am totally unconcerned about the current share price of both companies as I’m a long term investor and I am fully aware of the negative influence of the Labour /Green movement and how their scaremongering is pushing down the share price. When John Key Gets elected for his 3 rd term as the prime minister of NZ,those shares will jump by at least 20 % . But seriously ,I like the fact that both companies produce sustainable,renewable energy and actually owning part of a hydro and geothermal electricity company makes me feel so green.

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  • Govt careless and callous about threatened birds
    The National Government is increasing the threat to two of the world's most threatened and unique birds by opening up Victoria Forest Park to petroleum drilling, the Green Party said today.Scientists have recently published a ranking of the 100 most...
    Greens | 16-04
  • Genesis: The biggest fire sale of them all
    National has finished its asset sales with a massive bonfire of a fire sale, showing once and for all how much of a disaster this programme was, says Labour’s SOEs spokesperson Clayton Cosgrove. “Just 68,000 Kiwis bought shares in Genesis,...
    Labour | 16-04
  • Interest rates rise but only smokes increasing
    Mortgage rate rises are making life harder for homeowners, and many of them will be surprised the latest CPI figures show inflation would be zero were it not for tobacco tax hikes, says Labour’s Finance spokesperson David Parker. “New Zealanders...
    Labour | 16-04
  • Term One Report Card for Hekia Parata
    Assignment Teacher’s Comments Grade      ...
    Labour | 16-04
  • Hekia Parata kept exam book errors from schools
    Schools will be appalled to learn Education Minister Hekia Parata knew since January that hundreds of exam booklets had been returned to the wrong students but said nothing about it, Labour’s Education Spokesperson Chris Hipkins says. “Exams are stressful enough...
    Labour | 15-04
  • What has ACC Minister been doing?
    The ACC Minister needs to front up and explain what, if any, changes she has made to the broken culture of ACC rather than denying that she has any part to play in the dysfunction of her Ministry, the Green...
    Greens | 15-04
  • Promise of jam tomorrow takes the cake
    A claim by Minister of Finance Bill English that average wages will climb by $7,500 over the next four years is a cynical promise of jam tomorrow by a government whose record on wage growth is atrocious, Labour spokesperson on...
    Labour | 15-04
  • Judith Collins has to fess up on ACC blunder
    ACC Minster Judith Collins must front up and tell New Zealand how many people who refused to hand over their private details to ACC have been denied cover, says Labour’s ACC Spokesperson Iain Lees-Galloway. “The legality of ACC’s privacy waver,...
    Labour | 15-04
  • Board of Inquiry conditions will save rivers in New Zealand
    The Ruataniwha dam decision released today has protected the Tukituki River and dashed the Government’s hope of the “one nutrient model” (TRIM) being adopted nationwide, says Labour’s Conservation spokesperson Ruth Dyson. “It is a massive victory for those in the...
    Labour | 15-04
  • Labour turns wheels for cycling safety
    With more than a million New Zealanders now using cycling as an attractive alternative means of transport it is past time their safety was taken seriously, Labour’s Transport spokesperson Darien Fenton says. Due to speak to a cycling rally at...
    Labour | 15-04
  • SPEECH: Institute of Directors
    LEADING AND MANAGING OUR ECONOMIC FUTURE David Cunliffe MP, Labour Leader Speech to the Institute of Directors 15 April 2014, Auckland It's a privilege to be speaking here. The Institute of Directors has a proud history of developing New Zealand's...
    Labour | 15-04
  • More Oravida endorsements from John Key
    The use of a picture of John Key in an advertisement for Oravida’s scampi products in a Chinese airline magazine is further evidence of an unhealthily cosy relationship between the National Party and this company, Labour Leader David Cunliffe says....
    Labour | 15-04
  • Workers at Canterbury Yarns need redundancy support
    Workers faced with redundancy at Canterbury Yarns need a redundancy support co-ordinator, Green Party industrial relations spokesperson Denise Roche said today.Last week, Canterbury Yarns was placed in receivership. Canterbury Yarns joins a long list of New Zealand manufacturers who have...
    Greens | 14-04
  • Making the holidays easier for Kiwi drivers
    The next Labour Government will make the holidays easier and journeys quicker for Kiwi families driving on the roads, says Labour Leader David Cunliffe. “There’s nothing Kiwis like more than getting on the road and going on holiday. But on...
    Labour | 14-04
  • Ae Marika! 15 April 2014
    Our MANA AGM down in Rotorua on the weekend was a sold-out affair – even the media were struggling to get in! Political conferences can be very dull, but not this one. We had a great line-up of speakers including...
    Mana | 14-04
  • Green light from Labour for cancer screening programme
    Labour Leader David Cunliffe has today committed to a national bowel screening programme, starting with extending the current service to the Southern and Waikato districts. “Around 3000 New Zealanders develop bowel cancer each year and about 1200, or 100 a month,...
    Labour | 14-04
  • Adequate resourcing needed for victims’ advocate
    The establishment of a victims’ commissioner role will only be meaningful if it is properly resourced to do the job of advocating for victims’ interests, Labour Justice spokesperson Andrew Little says. Justice Minister Judith Collins has just recently indicated her...
    Labour | 13-04
  • IPCC report shows Government ignoring climate experts
    The Intergovernmental Panel on Climate Change's (IPCC) report into climate mitigation, just released in Berlin, shows the National Government is ignoring the pleas of the world's best climate scientists.The report says deep and fast emission cuts are vital from all...
    Greens | 13-04
  • Japan’s quick turnaround on whaling disappointing
    News that Japan plans to recommence some form of “scientific” whaling programme so quickly after the International Court of Justice’s ruling against it is very disappointing, says David Shearer, Labour’s Foreign Affairs spokesperson. “New Zealanders expected the ICJ ruling -...
    Labour | 13-04
  • Reviewable tenancies will increase risks for vulnerable children
    Instead of kicking families out of their homes if they can pay their rent, parents with young children should have the opportunity to purchase equity in a state-built home over time, the Green Party said todayFrom July, Housing New Zealand...
    Greens | 13-04
  • 48,000 New Zealanders drinking faecally contaminated water
    Some 48,000 people were provided with water that had issues with faecal contamination, 18,000 of whom were from Canterbury, the Green Party said today. The Ministry of Health's Annual Report on Drinking-Water in New Zealand for 2012/13 shows that 48,000...
    Greens | 12-04
  • Labour will move to save the Kauri
    Labour will spend $20 million over the next 10 years to stop the spread of Kauri dieback disease, says Labour Leader David Cunliffe. “We are facing an ecological disaster with over 11 per cent of the Kauri trees in the...
    Labour | 12-04
  • Turning Shane: How Murray McCully deprived Labour of Mr Jones
    THERE ARE THREE TYPES OF TRAITOR. The first is the person who betrays his country for a higher cause. The second betrays his country for money. The third betrays his country for the wrongs it has done him. By far...
    The Daily Blog | 23-04
  • Why NZ needs a Digital Bill of Rights
    I’m glad the Greens have taken on board some of my suggestions for a NZ Digital Bill of Rights. October last year I blogged… what should a NZ Digital Bill of Rights look like? -freedom of online expression -freedom of...
    The Daily Blog | 23-04
  • The blue collar cred smoko room mythology of Shane Jones as told by the msm
    So apparently, Shane Jones leaving is the end of the Labour Party. Yawn. Vernon Small screams, “Disarray. There is no other word to describe the mess the Labour Party plunged into last night” while John Armstrong predicts “resignation couldn’t have...
    The Daily Blog | 22-04
  • Flockton Floods Again
    Last week the Flockton Basin flooded again – the second time in six weeks.  And not just roads and land, but homes and garages.  Some people have been flooded multiple times since the earthquakes.  One couple, after the March flood...
    The Daily Blog | 22-04
  • The PI vote and political stunts
    The mainstream media got quite excited a couple of weeks ago when a number of Pasifika church leaders were photographed at the Manurewa markets wearing blue, Key-people t-shirts. The clergy pictured in those articles said that they had changed allegiance...
    The Daily Blog | 22-04
  • EDUCANZ / EDUCAN’T
    Oh hello, select committee … sorry to interrupt your tea and bickies, but I have something on my mind that I really need to talk to you about. You see, word on the street is that you are planning to...
    The Daily Blog | 22-04
  • Why Waiariki and Epsom are so important this election
    Two of the lynchpin electorates that need to go the Opposition’s way if there is any chance of a Labour led Government are Waiariki and Epsom. Epsom is the only lifeline for ACT and if the 6000 progressive voters in...
    The Daily Blog | 22-04
  • TV Review: Seven Sharp: third strike lucky
     More prophetic than anyone could imagine – Jesse in a coffin  Jesse Mulligan was the last of the original ill-fated trio to be dumped from Seven Sharp.  This happened last week with little notice given and less notice paid.  His removal was more inevitable than the...
    The Daily Blog | 22-04
  • The Liberal Agenda 23rd-27th April
    The week is dominated by the launch of the NZ International Comedy Festival – our picks for the week are… WEDNESDAY 23rdSunrise Yoga on Queens Wharf 7am-8.15am Queens Wharf, 89 Quay Street (bottom of Queen Street) Free ********************************************************************* THURSDAY 24th5...
    The Daily Blog | 22-04
  • Shane Jones caption contest
    Shane Jones caption contest...
    The Daily Blog | 22-04
  • Helping Simon Bridges find the forest he lost
    Helping Simon Bridges find the forest he lost...
    The Daily Blog | 22-04
  • On climate change denial
    On climate change denial...
    The Daily Blog | 22-04
  • Labour on manufacturing
    Labour on manufacturing...
    The Daily Blog | 22-04
  • When your National Party mates claim National are a better economic manager...
    When your National Party mates claim National are a better economic manager, show them this graph...
    The Daily Blog | 22-04
  • Introverts Unite (separately)
    Introverts Unite (separately)...
    The Daily Blog | 22-04
  • The problem with food
    The problem with food...
    The Daily Blog | 22-04
  • Why queues outside synthetic cannabis shop is proof regulation is working
    Latest moral panic on synthetic cannabis is that there were queues waiting for a store to open over Easter. Yawn. Before the Psychoactive Substances Act (PSA), there were up to 6000 venders and hundreds of different brands. Since regulation via the...
    The Daily Blog | 22-04
  • Shane Jones resignation: Labour dodge a bullet & the Greens smile
    Best Friends Forever now Thank God Shane Jones is selling out and taking a job for National… Shane Jones to leave Labour, set to work with Murray McCully Shane Jones is quitting Parliament and the Labour Party, and there is...
    The Daily Blog | 22-04
  • The only one happy with ACTs new ’3 strikes’ for burglary will be priva...
    The great scholarly Grand Cleric of the libertarian right, Jamie Whyte, has come down from the mount with two stone tablets and sadly all he has is 3 strikes, not 10 commandments… Jail burglars after third offence, says Act Party...
    The Daily Blog | 21-04
  • Trade and Investment Agreements: Human Rights For Sale
    On March 29, many New Zealanders took to the streets in defense of democratic rights by opposing the Trans Pacific Partnership Agreement (TPPA). A week earlier, delegates from dairy unions from around the world (including the NZ Dairy Workers Union...
    The Daily Blog | 21-04
  • Rest in peace Rubin ‘Hurricane’ Carter – despite the disgusting polic...
    Rest in peace Rubin ‘Hurricane’ Carter – despite the disgusting police racism and injustice you were undefeated...
    The Daily Blog | 20-04
  • Maori Party wine and dine invite
    Maori Party wine and dine invite...
    The Daily Blog | 20-04
  • For Simon Bridges – here’s the forest you forget
    For Simon Bridges – here’s the forest you forget...
    The Daily Blog | 20-04
  • Never forget the GCSB lies
    Never forget the GCSB lies...
    The Daily Blog | 20-04
  • The Empire strikes back
    The Empire strikes back...
    The Daily Blog | 20-04
  • God bless capitalism
    God bless capitalism...
    The Daily Blog | 20-04
  • Drone killings erode social constraint on using violence
    The drone killing of an (unnamed) New Zealander in Yemen should prompt us to look at the ethics of this practice. We’re told from birth that murder is wrong. Yet drone killings (as conducted by the Obama administration) convey the...
    The Daily Blog | 20-04
  • Labour’s first 100 days – where the messaging needs to be
    ‘The first 100 days’, an expression coined by President Roosevelt in 1933, is generally used to describe the successes and accomplishments of a government at the time when their power is greatest. During the 2008 election campaign, John Key issued...
    The Daily Blog | 20-04
  • Pharrell: a new brand of feminism?
    I think most people heard about how the song Blurred Lines featuring and co-written by Pharrell and performed by Robin Thicke (who has adeptly just been named “Sexist of the Year”) really pissed a lot of people off last year. ...
    The Daily Blog | 20-04
  • Why Easter holidays should always be mandatory and retail free
    The moaning from retailers that they can’t open the cash registers and worship the consumer culture of consumption over Easter bores me immensely because I’ve always believed that public holidays should be mandatory. It’s not that I really care about...
    The Daily Blog | 19-04
  • Why punish the parents of the disabled?
    Parents who have adult children with disabilities saw a glimmer of hope when the promise for payment for caring for their children was given. But like most things, the complicated and relentless bureaucracy of the whole process shows a completely...
    The Daily Blog | 19-04
  • Our government: still no idea
    Happy Easter everyone, bad weather aside. A previous post of mine was called “The Government with no ideas”.  Unsurprisingly, the theme of the piece was of a current government thoroughly absent of any creative ideas or solutions to assist more...
    The Daily Blog | 18-04
  • 12 things Forbes has to say about NZs about to burst economic bubble
    Forbes is not known for their socialist or left wing activism, so when they predict a grim economic failure, we should should collectively poo ourselves a little. National often get given this perception that somehow they are better economic mangers....
    The Daily Blog | 18-04
  • That Sinking Feeling: Labour’s urgent need for persuasive words and coura...
    THE LATEST ROY MORGAN POLL has Labour on 28.5 percent (down 3.5 percent) and the Greens on 11.5 percent (down 1.5 percent). At 40 percent, the combined vote of the two main centre-left parties has fallen 5 percentage points since...
    The Daily Blog | 18-04
  • Why the Labour movement should support a Universal Basic Income
    The Mana movement’s support of the idea of a universal basic income is a welcome development. It could become one of the litmus issues that define the party and prove extremely popular. If Mana are in a position to do...
    The Daily Blog | 18-04
  • Legal high and cannabis regulation
    I marched through Henderson last month with my fellow Westies to express our concern about the impact of so called “legal highs” on our community. Some people chanted loudly calling for banning, some expressing anger at the parliamentarians who voted...
    The Daily Blog | 18-04
  • Know your Tory fellow travellers and ideologues: John Bishop, Taxpayers Uni...
    . . On 19 March, I reported on the Board members of the so-called “Taxpayers Union”. With one exception, every single member of the Taxpayers Union Board was a current (or recent) card-carrying member or supporter of the National and/or...
    The Daily Blog | 17-04
  • GUEST BLOG: Daniel Bruce – Internet Party: What Seems Ridiculous To The O...
    Imagine you’re a 18-21 year old, from a working class family. You’ve never had a landline phone at home, because your parents can’t afford the fixed monthly bills, so everyone in your familiy has a pre-pay mobile phone. Because of the same tight...
    The Daily Blog | 17-04
  • Greens to push for housing standards in MOU with Government
    Source: Green Party – Press Release/Statement: Headline: Greens to push for housing standards in MOU with Government Tuesday, 28 Aug 2012 | Press Release We don’t need any more official reports. We know the problem and we have the plans....
    The Daily Blog | 17-04
  • Mighty River squanders $3.8m preparing for sale
    Source: Green Party – Press Release/Statement: Headline: Mighty River squanders $3.8m preparing for sale Tuesday, 28 Aug 2012 | Press Release New Zealanders do not want asset sales and they do not want the Government wasting millions of dollars on...
    The Daily Blog | 17-04
  • Government’s economic agenda on shaky ground
    Source: Green Party – Press Release/Statement: Headline: Government’s economic agenda on shaky ground Monday, 27 Aug 2012 | Press Release Instead of betting on a boom and bust industry and selling off assets the government needs to invest in a...
    The Daily Blog | 17-04
  • National’s tax cuts haven’t cut tax avoidance
    Source: Green Party – Press Release/Statement: Headline: National’s tax cuts haven’t cut tax avoidance Sunday, 26 Aug 2012 | Press Release It is not fair that many rich New Zealanders are cheating on their tax. National’s 2010 tax cuts, that...
    The Daily Blog | 17-04
  • Waitangi Tribunal report adds to crisis in asset sales agenda
    Source: Green Party – Press Release/Statement: Headline: Waitangi Tribunal report adds to crisis in asset sales agenda Friday, 24 Aug 2012 | Press Release In its rush to sell our assets, National has found itself in a crisis of its...
    The Daily Blog | 17-04
  • Privacy across all departments needs checking
    Source: Green Party – Press Release/Statement: Headline: Privacy across all departments needs checking Friday, 24 Aug 2012 | Press Release “People don’t have a choice about giving their information to the state so the Government has an absolute duty to...
    The Daily Blog | 17-04
  • Reports show Government role in driving ACC dysfunction
    Source: Green Party – Press Release/Statement: Headline: Reports show Government role in driving ACC dysfunction Thursday, 23 Aug 2012 | Press Release Restoring public trust and confidence is an essential goal and will require very major change starting from the...
    The Daily Blog | 17-04
  • Government must front up on full costs of asset sales
    Source: Green Party – Press Release/Statement: Headline: Government must front up on full costs of asset sales Thursday, 23 Aug 2012 | Press Release It’s time for the Government to front up over just how much these asset sales are...
    The Daily Blog | 17-04
  • New report: middle NZ worse off, inequality grows
    Source: Green Party – Press Release/Statement: Headline: New report: middle NZ worse off, inequality grows Thursday, 23 Aug 2012 | Press Release Our society has never been as unequal as it is today. New research from the Ministry of Social...
    The Daily Blog | 17-04
  • Government to delay addressing climate change indefinitely
    Source: Green Party – Press Release/Statement: Headline: Government to delay addressing climate change indefinitely Thursday, 23 Aug 2012 | Press Release “It would be a shock for any other Government to introduce such a self-defeatist piece of legislation but unfortunately...
    The Daily Blog | 17-04
  • Time to deliver on 26 weeks Paid Parental Leave
    Source: Labour Party – Press Release/Statement: Headline: Time to deliver on 26 weeks Paid Parental Leave Today marks two years since Labour MP Sue Moroney’s Bill extending paid parental leave to 26 weeks was drawn from the members’ ballot. “It’s...
    The Daily Blog | 17-04
  • Taxpayers robbed of $130m in Genesis sale
    Source: Labour Party – Press Release/Statement: Headline: Taxpayers robbed of $130m in Genesis sale Kiwi taxpayers have been robbed of $130 million by the Government in its final failed asset sale, says Labour’s SOEs spokesperson Clayton Cosgrove. “National set the...
    The Daily Blog | 17-04
  • Total figures for campaign against alcohol fuelled violence
    The final total figures for the eighth police led Operation Unite: a Blitz on Drunken Violence was announced today by Jon White, CEO of the Australia New Zealand Policing Advisory Agency (ANZPAA)....
    Scoop politics | 23-04
  • ACT’s proposal to further three-strikes policy short-sighted
    JustSpeak is calling out the ACT Party’s extension of the three-strikes policy as knee-jerk punitivism, political populism and based on a culture of fear, rather than evidence....
    Scoop politics | 23-04
  • InternetNZ pleased Green Party taking issues seriously
    InternetNZ is pleased to see the Green Party join Labour in having a serious discussion about online rights....
    Scoop politics | 23-04
  • Age Concern calls for building accessibility for elderly
    Age Concern has made a submission strongly opposing the clause within the Building (Earthquake-prone Buildings) Amendment Bill that exempts building owners from providing or improving building accessibility. The current Building Act 2004 clearly acknowledges...
    Scoop politics | 23-04
  • Internet Rights & Principles Coalition: Internet Rights Bill
    The Internet Rights and Principles Coalition (IRP Coalition) of the UN Internet Governance Forum applaud the release of the NZ Green Party’s Internet Rights and Freedoms Bill for public consultation. The IRF Bill is a pioneering project for the internet...
    Scoop politics | 23-04
  • Gender quotas should be a last resort
    The Institute of Directors in New Zealand (IoD), says introducing gender quotas is not the best solution to increase the number of women directors on New Zealand boards....
    Scoop politics | 22-04
  • Taika Waititi lends support to #BeefWithBullies campaign
    Even if Chardonnay doesn’t like your Michael Jackson dance moves, that’s no reason for you to be made fun of. Renowned Kiwi director, Taika Waititi has pledged his support to the Mad Butcher’s anti-bullying campaign #BeefWithBullies. With...
    Scoop politics | 22-04
  • Commissioner proposes limit on credit reporting charges
    The Privacy Commissioner, John Edwards, is proposing an amendment to the Credit Reporting Privacy Code that would limit what credit reporters can charge individuals wanting immediate access to their credit information....
    Scoop politics | 22-04
  • Does ACC system provide access to justice asks UN
    The United Nations Committee responsible for the Convention on the Rights of Persons with Disabilities ("CRPD") has formally raised access to justice and other issues with the New Zealand Government. The Committee considered a report submitted...
    Scoop politics | 22-04
  • Iwi concerned over future of country’s oldest wharenui
    An East Coast iwi says they are concerned the Crown has not made good on its promise to return their wharenui – the oldest meeting house in the country. “The Government promised to return our wharenui, now they are reneging,”...
    Scoop politics | 22-04
  • NZDF-Supported Anzac Day Commemorations in France, Belgium
    The New Zealand Defence Force (NZDF) will be increasing its support for official and locally-run Anzac Day commemorations in France and Belgium this year with a 10 person contingent, including a Māori cultural element, from New Zealand as well...
    Scoop politics | 22-04
  • Third National Māori Housing Conference set to take place
    Success stories in Māori Housing developments from around Aotearoa will be shared at a National Māori Housing Conference, to be held in Whanganui from May 1-3. Conference hosts the Whanganui Iwi Housing Forum and national umbrella organization Te Matapihi...
    Scoop politics | 22-04
  • Partnership targets visitor safety on New Zealand roads
    Partnership targets visitor safety on New Zealand roads Tourism New Zealand, the New Zealand Transport Agency and Air New Zealand have joined forces to target Chinese tourists with important road safety messages before they get behind the wheel. A...
    Scoop politics | 22-04
  • Renewable energy in the Pacific under EU-NZ Partnership
    European Commissioner Piebalgs and New Zealand Foreign Minister McCully depart on 23-27 April on a joint mission to the Pacific to see EU-NZ renewable energy and energy efficiency projects....
    Scoop politics | 22-04
  • Disabled Community Further Marginalised by Proposed Bill
    Disabled Community Further Marginalised by Proposed Building Amendment Bill for Earthquake Prone Buildings to the Building Act....
    Scoop politics | 22-04
  • Home loan affordability worsens by most in 12 years
    Home loan affordability worsens by most in 12 years as interest rates and house prices rise...
    Scoop politics | 22-04
  • ACT should abandon Three Strikes
    Rethinking Crime and Punishment is urging right wing politicians to do their homework before coming up with one-off “tough on crime – high on vengeance’ sentencing policies for which there is no evidence of success. He was responding to the...
    Scoop politics | 21-04
  • Noho Hewa’: Visit of Native Hawaiian filmmaker
    Native Hawaiian filmmaker, Anne Keala Kelly, will be in Aotearoa New Zealand for two screenings of the award winning documentary 'Noho Hewa: the wrongful occupation of Hawai'i', a powerful portrayal of the multiple links between militarisation and...
    Scoop politics | 21-04
  • Rural Contractors NZ hits the road during May
    Rural Contractors New Zealand (RCNZ) will be updating its members on the latest changes in health and safety, transport and employment laws – as well as other topics – in a series of roadshows being held around the country during...
    Scoop politics | 21-04
  • Landlord and tenant alarm at healthy homes bill
    Landlord and tenant alarm at healthy homes bill Landlords and tenants should be alarmed at Labour MP Phil Twyford’s Healthy Homes Guarantee Bill that would immediately impose stringent requirements upon rental properties without defining those requirements,...
    Scoop politics | 21-04
  • US/New Zealand relationship best in thirty years
    US/New Zealand relationship best in thirty years. NZ well qualified for UN Security Council seat...
    Scoop politics | 21-04
  • Oxford University study says large dams are uneconomical
    Just in time for this week’s ASEAN Renewable Energy Week, new scientific results have questioned the economic viability of large dams. Calculations by the Bruno Manser Fund show that the Malaysian Bakun Dam scores even worse than the average large...
    Scoop politics | 21-04
  • ACT Speech: Three Strikes For Burglary, Three Years Jail
    Last year there were more than 52,000 reported burglaries. According to the Treasury, for every 10 reported burglaries, there are another 12 that go unreported. This means there were more than 120,000 burglaries last year – or over 2000 a...
    Scoop politics | 21-04
  • Derek Leask: Media Advisory Re: Nigel Fyfe MOJ Appointment
    Derek Leask yesterday 20 April 2014 made the following observations in response to a media enquiry about the recently announced appointment of Mr Nigel Fyfe, currently Deputy Secretary at the Ministry of Justice (Legal and Operational Services and Legal...
    Scoop politics | 21-04
  • Oceans In The Spotlight At Election Year Oceans Forum
    The marine environment will be in the spotlight at an ‘Election Year Oceans Forum’ at Kelly Tarlton’s SEALIFE Aquarium on April 27 from 10.30-12.30. A panel of non-governmental advocates and scientists will outline challenges facing our seas, and MPs from...
    Scoop politics | 21-04
  • Himalayan Trust responds to Everest avalanche
    The Himalayan Trust has launched an appeal to help the families of the Sherpa climbers impacted by the recent tragedy on Eve rest, Nepal....
    Scoop politics | 21-04
  • Himalayan Trust responds to Everest avalanche
    The Himalayan Trust has launched an appeal to help the families of the Sherpa climbers impacted by the recent tragedy on Eve rest, Nepal....
    Scoop politics | 21-04
  • Tariana Turia: Labour doesn’t deserve our vote
    Maori Party Co-leader Tariana Turia told TVNZ’s Q+A programme that Labour doesn’t deserve the Maori vote. ‘I don’t believe they deserve our vote any more....
    Scoop politics | 20-04
  • Family Court Consumers Group appalled at legal rort
    Family Court Consumers Group appalled at Lawyer for Child's "1 meeting in 10 years" taxpayer funded legal rort...
    Scoop politics | 19-04
  • Manufacturing Matters to New Zealand – 17 April
    The Labour Party announcement today recognises the simple truth that the manufacturing sector really matters to New Zealand’s economy as a whole, based on the part manufacturing plays in the growth of the added value element in the tradable sector,...
    Scoop politics | 19-04
  • Young Kiwi to Represent New Zealand at Premier Youth Forum
    Young Kiwi to Represent New Zealand at Premier Youth Forum FOR IMMEDIATE RELEASE Commonwealth Youth New Zealand Executive Director, Aaron Hape, has been selected to represent New Zealand at 33Fifty, the Commonwealth Youth Leadership Programme,...
    Scoop politics | 19-04
  • Lisa Owen interviews Green Party co-leader Metiria Turei
    Greens propose new ministerial disclosure regime based on British rules, requiring quarterly declarations of ministers' meetings, travel and hospitality....
    Scoop politics | 19-04
  • Politicians Should Maintain Workers’ Easter Break
    Family First NZ is rejecting calls for any liberalisation of Easter trading laws and says that workers deserve a break to spend time with their families. “This is not an issue about choice as has been argued. For many workers,...
    Scoop politics | 19-04
  • Lisa Owen interviews experts on Antacrtica
    Lisa Owen interviews Chuck Kennicutt and Gary Wilson on Antarctica Headlines: Top Antarctic scientists warns New Zealand "not ready" for worst as ice shelves and sea ice in Antarctica retreat and the climate changes Gary Wilson: "Can...
    Scoop politics | 19-04
  • Beyond the State – NZ State Houses from Modest to Modern
    As part of the our 'Active Hand of Government' series for 2014, we present Bill McKay, Senior Lecturer, School of Architecture and Planning, speaking to his new publication....
    Scoop politics | 19-04
  • Global unions applaud NZ ‘slave ships’ progress
    Global unions the ITF (International Transport Workers' Federation) and IUF (International Union of Food, Agricultural and Hospitality Workers) today applauded the steps forward made in preventing often shocking abuse of crews on fishing vessels in New Zealand...
    Scoop politics | 17-04
  • Families before commerce at Easter
    Families before commerce at Easter The retail workers’ union has hit back at critics of New Zealand's modest Easter trading restrictions. "Some things are more important than going to the mall, and for just three and a half days each...
    Scoop politics | 17-04
  • Easter trading laws archaic, in need of overhaul
    Press release: ACT New Zealand Easter trading laws are outdated and in need of a major overhaul, said ACT leader Jamie Whyte today....
    Scoop politics | 17-04
  • ALCP welcomes Campbell Live poll result
    The Aotearoa Legalise Cannabis Party welcomes last night's Campbell Live poll, saying it is an overdue reality check for public opinion on personal cannabis use....
    Scoop politics | 17-04
  • Q+A This Week 20/4/14
    Q+A This Week SUNDAY 20 APRIL, 9AM ON TV ONE The latest on the US-NZ relationship from the US military’s top man in the Pacific, Admiral Samuel J. Locklear . Deputy Political Editor Michael Parkin asks him whether we’re allies,...
    Scoop politics | 17-04
  • Community detention for pokie theft
    A 67-year-old former company director, convicted of stealing pokie machine profits, was today sentenced to six months community detention, 160 hours of community work and ordered to make reparation of $6,000....
    Scoop politics | 17-04
  • Waitangi National Trust Board Amendment Bill
    The Māori Affairs Committee is inviting public submissions on this bill. The closing date for submissions is Wednesday, 14 May 2014....
    Scoop politics | 17-04
  • Collaboration stops drugs from crossing borders
    Collaboration between Hong Kong and New Zealand Customs has stopped millions of dollars worth of drugs coming into New Zealand this year, with a number of seizures and arrests in both countries....
    Scoop politics | 17-04
  • Call for public enquiry into the future of farming
    Fish & Game NZ is calling for a public enquiry “to examine the future of agriculture in New Zealand”....
    Scoop politics | 17-04
  • Comment on Labour Policy Announcement by NZMEA President
    “This policy release from the Labour Party is so important that if it becomes government policy it would define a shift in New Zealand’s culture,” says Brian Willoughby President of the NZMEA and Managing Director of Plinius Audio and Contex...
    Scoop politics | 17-04
  • Manufacturing policy makes sense but….
    On the surface much of Labour's prescription for manufacturing is sound though questions remain over some of the detail not yet announced, the Employers and Manufacturers Association says....
    Scoop politics | 17-04
  • Where Are The 15,000 Jobs?
    “Paula Bennett is today proudly telling New Zealand that beneficiary numbers have decreased by 15,000 in the past year. There is no proud declaration that 15,000 jobs have been created in the same period,” says Auckland Action Against Poverty spokesperson,...
    Scoop politics | 17-04
  • Change of approach to government procurement needed
    The rail engineering industry has been totally let down by National’s lack of manufacturing policy, and Labour’s measures outlined today represent a marked shift in approach to supporting domestic industries, the RMTU said today....
    Scoop politics | 17-04
  • Depreciation Policy Shouldn’t Be Just for Pet Industries
    The Taxpayers’ Union is welcoming Labour’s announcement to beef up rates of depreciation in the manufacturing sector, but is questioning why David Cunliffe is picking winners rather than applying the policy across all sectors. Jordan Williams,...
    Scoop politics | 17-04
  • FIFA U-20 World Cup NZ 2015 Kick Off Times Announced
    An array of kick-off times to suit football fans of all ages has been confirmed for the FIFA U-20 World Cup New Zealand 2015. With 52 matches spread across the nation, the public will be able to enjoy a collection...
    Scoop politics | 17-04
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