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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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    Labour | 14-08
  • Key has serious questions to answer on Dirty Politics
    John Key must answer the serious questions raised in Nicky Hager’s new book which reveal examples of dirty politics that New Zealanders will be deeply concerned about, Labour MP Grant Robertson says. “Many people will be disturbed by the evidence...
    Labour | 14-08
  • Creating an inclusive society for disabled people
    A Labour Government will provide free annual health checks for people with an intellectual disability, Labour’s Disability Issues spokesperson Ruth Dyson said today in announcing Labour’s Disability Issues policy. “We will also employ another 100 additional special education teachers and...
    Labour | 14-08
  • Media Advisory – MANA name change
    This is to advise all media that on the 24th of July the ‘Mana’ party name was officially changed to ‘MANA Movement’ under the Electoral Act 1993.  The inclusion of the word ‘Movement’ in our name shouldn’t come as a surprise...
    Mana | 13-08
  • New Zealand must help in the growing Iraq crisis
    The humanitarian crisis in Iraq looks certain to get worse before it gets better,” said David Shearer Labour’s Foreign Affairs spokesperson. “New Zealand should urgently pledge increased humanitarian assistance to United Nations agencies and NGOs present on the ground....
    Labour | 13-08
  • Allegations of migrant worker rort should be investigated
    Labour is calling for an investigation into the alleged exploitation of workers at Hutt Railway workshops, hired to repair asbestos-riddled DL locomotives. Hutt South Labour MP Trevor Mallard has written to the Ministry of Business, Innovation and Employment asking that...
    Labour | 13-08
  • Medical and dentistry students get reprieve under Labour
    A Labour Government will restore the right of medical and dentistry students to get student loans after seven years of study because it is the right thing to do, Labour’s Tertiary Education spokesperson Maryan Street says. “Hard on the heels...
    Labour | 13-08
  • National must stop meddling with ACC before the election
    The redesign currently occurring at the Accident Claims Corporation (ACC) for sensitive claims needs to be put on hold immediately, said the Green Party today.The Green Party is concerned about work currently underway at ACC involving the sensitive claims service...
    Greens | 13-08
  • Markets slow but first home buyers still hurting
    First home buyers are hurting more than ever as the supply of affordable houses in the market dries up, Labour’s Housing spokesperson Phil Twyford says. “The Reserve Bank will be happy LVR minimum deposits and rising interest rates have dampened...
    Labour | 13-08
  • Green Party celebrates MOU win on contaminated sites
    The Green Party is celebrating the announcement of a national register of contaminated sites today, and $2.5 million to start cleaning two sites up. The Green Party and the National Party agreed to include toxic site management work in their...
    Greens | 13-08
  • Emergency staff at breaking point
    The Southern DHB is so cash-strapped it is failing to fill nursing rosters, Labour’s Associate Health spokesperson David Clark says.  “Every day emergency department nurses arrive at work knowing they are likely to be carrying more than their recommended workload. ...
    Labour | 12-08
  • ACC minister fails in mission to change culture
    The latest damning report by the Auditor General shows that the ACC Minister has failed to fulfil her mission to fix the sick culture at ACC and real change will not come till a new Government is elected, the Green...
    Greens | 12-08
  • Labour’s regional development fund to support Palmerston North
    Labour will consider a proposal to develop an inland port at Palmerston North, Labour Leader David Cunliffe says. “The Palmerston North community has developed plans for an inland port which will bring jobs and economic growth to a region which...
    Labour | 12-08
  • Green Party announces priorities for Christchurch
    The Green Party has today announced its plan for a fairer, smarter and more democratic Canterbury rebuild, with a focus on smart transport solutions, restoring local democracy, and keeping Christchurch's assets.The plan sits across all of the Green Party's priorities...
    Greens | 11-08
  • Rock-star economy unplugged by China log jam
    The collapse of log prices due to oversupply in China threatens to wash the gloss off what remains of National's so-called rock-star economy, says Labour Leader David Cunliffe. “Already this year the price of milk solids has plunged by more...
    Labour | 11-08
  • Young job seekers dealt a poor hand
    National's "keep 'em poor" card for young people on a benefit is a sorry substitute for job training, Labour’s Social Development spokesperson Sue Moroney says.  The Government today announced it would extend its payment card scheme to all teen parents...
    Labour | 11-08
  • Labour – achieving change for Kiwi women
    Working towards being a world leader in eliminating violence against women and children will be a priority for a Labour Government. Releasing Labour’s Women’s Affairs policy today spokesperson Carol Beaumont said while Labour had a proud track record of achieving...
    Labour | 11-08
  • Accessible healthcare also affordable
      It is obvious from Tony Ryall’s hasty attack of Labour’s plans to extend free GP visits to older people that he hasn’t bothered to actually read the policy, Labour’s Health spokesperson Annette King says. "Mr Ryall’s response to Labour’s...
    Labour | 11-08
  • Full details of oil execs’ junket revealed
    Full details of a $237,000 taxpayer-funded oil executives' junket in 2011 have emerged.National paid the nearly quarter of a million dollars to wine and dine 11 oil executives in New Zealand during the World Cup.The trip included yachting, wine tasting,...
    Greens | 10-08
  • Nats sold 500 rugby fields of land a day offshore
    Under National over one million hectares of land has been approved for overseas sale – 16 times the size of Lake Taupō or the equivalent of five hundred rugby fields a day, Labour’s Finance spokesperson David Parker says. “According to...
    Labour | 10-08
  • Joyce’s dodgy sums fool no-one
    Steven Joyce's attempt to attack Labour's positive plan for affordable healthcare will fool no-one. "We knew that National would try to say that we can't afford free GP visits and prescriptions for the New Zealanders who need it. But, as...
    Labour | 10-08
  • Campaign Launch – Ready to Win
    Today I launched Labour's election campaign at the Viaduct Events Centre, Auckland. Here is the speech I gave....
    Labour | 10-08
  • Labour extends free GP visits, free prescriptions
    Nearly 40 per cent of Kiwis – or 1.7 million people – will be eligible for free doctors’ visits and free prescriptions under a Labour Government, Labour Leader David Cunliffe says. “Last year more than half a million New Zealanders...
    Labour | 10-08
  • Labour promises a fairer ACC for all Kiwis
    Accident compensation for loss of potential earnings will rise under a Labour Government, while people not earning at the time of their accident will also be eligible for compensation, Labour’s ACC spokesperson Iain Lees-Galloway says. Releasing Labour’s ACC policy today...
    Labour | 08-08
  • NZ Govt must push for fair play in Fiji elections
    The New Zealand Government needs to do more to push for human rights and media freedom in Fiji as it stages its first election since the 2006 coup, the Green Party said today.Amnesty International has released a report which documents...
    Greens | 07-08
  • Pacific unemployment still highest in the country
    The Minister of Pacific Island Affairs can boast all he wants about changes to employment statistics for Pacific people but the reality for many Pacific people is nowhere close to National’s promised brighter future, Labour’s Pacific Affairs spokesperson Su’a William...
    Labour | 07-08
  • Big funding injection for regions in Green Party transport plan
    The Green Party will increase transport spending in the regions by 50 percent over the next decade under its new transport plan, the Green Party said today."Transport is the life-blood of the regions. They have been starved under National," Green...
    Greens | 07-08
  • The Rise and Fall of John Key – who will be the next leader of National P...
    . . It was all set to go: Teamkey would be the cult of personality that would do Stalin, Mao, Reagan, Thatcher, or any of the Nth Korean Kim Dynasty, proud.  National and it’s “Teamkey” propaganda strategy   would cash-in Big Time...
    The Daily Blog | 20-08
  • Who said Kiwis couldn’t get a fire in their bellies over an arcane intern...
    An amazing team of activists has taken the campaign on the Trans-Pacific Partnership Agreement (TPPA) to local governments throughout the country. Their latest triumph came last Monday when the Dunedin City Council endorsed a resolution expressing concern about the TPPA...
    The Daily Blog | 20-08
  • National’s Dangerous Education Agenda Exposed
    Putting aside the dirty politics coming out of the Beehive and the right-wing blogisphere, there are some very strong signals that another term of a National Government would do even more serious damage to the public education system. The Education...
    The Daily Blog | 20-08
  • We can have clean politics and get our democracy back.
    Something is rotten in our politics and it stinks. Dirty politics has sadly become one of the defining features of this election campaign. In the light of recent revelations about the extent of nasty and disingenuous political strategies, it would...
    The Daily Blog | 20-08
  • Book burning copies of Hager’s book? The next generation of National Part...
    It seems we are getting the next generation of National Party Dirty Politics now. There are claims the Young Nats in Hamilton are buying up copies of Dirty Politics and burning them. One witness was contacted by the Waikato Times...
    The Daily Blog | 20-08
  • National Party Poetry Day Haiku
    Key’s inbox and Cam’s poison most foul, there he blows hoist by own harpoon...
    The Daily Blog | 20-08
  • Why Cunliffe will be the next PM
    David Cunliffe will be the next Prime Minister of NZ. Labour’s inclusive and positive TV adverts… …are in stark contrast to National’s team of white people powering away from the rabble of the ‘others’… …the messaging is vital and crucial...
    The Daily Blog | 20-08
  • From smiling assassin to grumpy butcher – on giving Judith Collins a last...
    After #dirtypolitics Key isn’t the smiling assassin, he is the grumpy butcher. When he said Judith had  a ‘last chance’ he meant 1 second after voting closes on 20th September. Key would love nothing more than to cut Collins loose and end...
    The Daily Blog | 20-08
  • If the National Party rowing advert was real….
    If the National Party rowing advert was real there would be more blood in the water. If the National Party rowing advert was real it would be Cameron Slater calling the strokes. If the national Party rowing advert was real,...
    The Daily Blog | 20-08
  • Cameron Slater: Zionist and political pundit
    It is hard to know where to start with right-wing blogger Cameron Slater (Whale Oil), especially after the release of Nicky Hager’s book Dirty Politics. This confirmed everything many of us thought Slater to be: a snivelling pundit who serves...
    The Daily Blog | 19-08
  • Bryce Edwards stood down from Herald for election season??? Are the editors...
    I only found this out via twitter last night and I am still in shock. Bryce Edwards, easily the best critical thinker and news analyst the NZ Herald has has been stood down by the NZ Herald ‘for the election...
    The Daily Blog | 19-08
  • So who’s a “conspiracy theorist” now?!
    . . As the media storm over Nicky Hager’s book, “Dirty Politics“,  and allegations over smear campaigns continue to swirl,  National’s spin doctors have given Key, Collins, and other National Party ministers a string of  phrases to use in all...
    The Daily Blog | 19-08
  • Momentum shift
    When you are deeply immersed in a local campaign sometimes it can be difficult to see the helicopter view.   I don’t know how accurate the political polls are and have always known that things can change quickly in politics...
    The Daily Blog | 19-08
  • Dear Toby Manhire. Bad call on backing Farrar
    Oh dear. I say this as someone who regards Toby Manhire as one of the smartest journalists/commentators/columnists this country has, and I think Toby has made a terribly dumb call here. Let’s see if Toby is still singing Farrar’s praises...
    The Daily Blog | 19-08
  • Radio NZ apologise to me for getting it wrong
    Radio NZ have contacted me, reviewed the claim by their host that I had an advance copy of Nicky Hager’s book and they have concluded they got it wrong, they have called me and apologised and will make a statement...
    The Daily Blog | 19-08
  • GUEST BLOG: Reclaim UoA – Students’ Message to Steven Joyce
    Tertiary Education – we’ve been sold a lemon  A group of 30 students attended an event on Tuesday evening about ‘the future of tertiary education’ at which the Minister of Tertiary Education Steven Joyce was slated to speak. As Joyce...
    The Daily Blog | 19-08
  • Can someone in the media please ask the PM of NZ to categorically deny any ...
    Now we see the MO of Slater & Co, the setting up, the digging for dirt, the use of staff to dig that dirt, can the Prime Minister of NZ categorically deny any National Party staff worked with Cam Slater...
    The Daily Blog | 19-08
  • Panic setting in for National as they realise what’s about to happen
    And the terror starts to set in. I’ve never seen blind panic like this before  and it’s spreading as the enormity of what’s about to happen starts to sink in. Hager’s book is a mere entree, Nicky’s personal ethics wouldn’t...
    The Daily Blog | 19-08
  • Hager’s Dirty Politics: what the book ultimately reveals is abuse of powe...
    Guide to the many faces of John Key Nicky’s book is now doing what I suspected it would do, create a shockwave of revulsion. Andrew Geddis over at Pundit Blog sums up this attitude best, and it’s reverberations build with every...
    The Daily Blog | 18-08
  • Fancy taking children seriously
    Let’s see why all political parties should pay close attention to the Green Party’s policy for children. First, it is a comprehensive attempt to put children, not ideology, at the heart of family policy. Wow, children at the heart of...
    The Daily Blog | 18-08
  • Amnesty International: Dear Azerbaijan, Stop Torture, Love Kiwi Kids
    This is a world where many adults often underestimate Generation Y. Being only a few years out of being a teenager myself, I feel I can make this statement with certainty. However, I have been the Youth Intern at Amnesty...
    The Daily Blog | 18-08
  • GCSB meetings today in Christchurch 1pm at Uni 7pm at Cathedral
    The 2014 GCSB meetings to discuss the mass surveillance state legislation passed by this Government will be debated in Christchurch today at two different meetings. 1pm at Canterbury University bottom floor James Height Building: Chair: Bomber Bradbury Ruth Dyson – Labour Party...
    The Daily Blog | 18-08
  • Things that 7 Sharp should probably be talking about
    Things that 7 Sharp should probably be talking about...
    The Daily Blog | 18-08
  • Guide to when Key is lying
    Guide to when Key is lying...
    The Daily Blog | 18-08
  • GUEST BLOG: Kate Davis – The State of the Student Nation …or is just Al...
    Students politics are dead and our student media is in terminal decline. The most disappointing thing about university is the politics, or should I say lack of? I was raised with the idea that students held the power.They were the...
    The Daily Blog | 18-08
  • Love Lifts Us Up: Thoughts from the Green Party’s campaign launch.
    Author Eleanor Catton wants people to give their party vote to the Greens.Photo by Peter Meecham NO ONE WAS QUITE SURE how he did it. Somehow Bob Harvey had persuaded the owners of the rights to Joe Cocker’s Up Where...
    The Daily Blog | 18-08
  • Test Stream
    width="600" height="400"> archive="http://theora.org/cortado.jar [3]" width="600" height="401">...
    The Daily Blog | 18-08
  • LIVE STREAM: You, Me and the GCSB ChCh Public Meetings
    LIVE STREAM EVENT here at 1pm & 7pm: The 2014 GCSB meetings to discuss the mass surveillance state legislation passed by this Government will be debated in Christchurch today at two different meetings. PLEASE NOTE: TDB recommends Chrome and Firefox...
    The Daily Blog | 18-08
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today,
    Jeremy Wells’ Mike Hosking on Radio Hauraki...
    The Daily Blog | 18-08
  • How @whaledump might destroy the popular vote for National
    Dirty Politics is now creating a meltdown and National are in danger of a total vote collapse. The real threat to for National was if Nicky had all the emails released via the anonymous hacker who took them. That danger is now a...
    The Daily Blog | 18-08
  • Open letter to Radio NZ – you need to make a retraction now
    I have just sent this off to Radio NZ right now Dear Radio NZ Firstly, what a great interview by Guyon Espiner this morning with the Prime Minister. Great to see such hard hitting journalism. Unfortunately I am not contacting...
    The Daily Blog | 17-08
  • Radio NZ are lying about me
    I am getting this all second hand at the moment as I don’t bother listening to Radio NZ (except for that wonderful Wallace Chapman in the weekends) but there is a claim that Suzie Ferguson just insinuated on Radio NZ...
    The Daily Blog | 17-08
  • Farrar’s fake claim of being invaded + Slater’s claims of death threats...
    The counter spin to avoid focus on the series allegations made in Nicky Hager’s Dirty Politics continues. David Farrar’s ridiculous hysterics that he was invaded and his privacy has been blah blah blah has all been reduced from computer hacking to...
    The Daily Blog | 17-08
  • A shout out to the unsung heroes – our Public Service staff
    Government departments, particularly in the social welfare, education and health areas get a lot of shtick. And it’s not unjustified. We have problems in the way that our government departments treat those in need. And I do not intend to...
    The Daily Blog | 17-08
  • Key’s ducking for cover – utterly unbelievable!!!
    .   . I don’t often re-print media stories verbatim – but this piece by Andrea Vance, for Fairfax Media,  deserves wider circulation. Please note the highlighted statements by Dear Leader as he ducks, weaves, obfuscates, and deflects any and...
    The Daily Blog | 17-08
  • Hager’s Dirty Politics – Who is the source of Hager’s emails?
    Who is the source of Hager’s emails? Kim Dotcom has categorically denied he has anything to do with this and Nicky Hager has categorically denied that Kim was the source of the emails. Whatever you think about Kim (and he...
    The Daily Blog | 17-08
  • Dirty Politics – Audio+Text Why It Is Essential Raw Data Be Released Imme...
    MIL OSI – Source: RadioLive – Sunday Panel Analysis Headline: Dirty Politics – Audio Analysis by Selwyn Manning + Rodney Hide + Mark Sainsbury MIL Video: Selwyn Manning, Rodney Hide, and Mark Sainsbury discuss and debate the explosive details revealed...
    The Daily Blog | 17-08
  • TV One and TV3 Political Polls – not such a landslide now
    Before the impact of Dirty Politics has been felt, the National Party high point in the Polls had been reached and their inevitable  drop begins. Despite the mainstream media telling NZers for almost 3 years that John Key would win...
    The Daily Blog | 17-08
  • Hager’s Dirty Politics – You will not believe Key’s defence of hackin...
    He actually used a sporting analogy. Can you believe it? John Key, asked on the fact that his staff had entered into a Labour Party computer and downloaded their database, Key replied, “It’s a bit like the Wallabies positing up their...
    The Daily Blog | 17-08
  • A brief word on 100 Top political Tweeters
    The NZ Herald has put together a very useful list of top 100 political twtter accounts, what is most interesting from the lists is that the right wing all work hand in glove with each other where as the Left...
    The Daily Blog | 16-08
  • Are Whaleoil’s traffic stats a bloated illusion?
    Dim Post has done a critical analysis of just how real Cameron Slater’s traffic stats are. TDB has only been around for a year with a fragment of the digital footprint of the older blogs, yet we have managed to become...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Is Jordan Williams deceptive enough to blackma...
    There are so many issues raised by Nicky Hager’s book, that any one of them would be worthy of total focus on. Let’s chat about the claim in the book that Jordan Williams bragged to Slater and Lusk that he had...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Why ‘see no evil, hear no evil, speak no evi...
    This sign shows how National’s see no evil, hear no evil, speak no evil denial isn’t working. National’s response to the book is that there is NOTHING in there that deserves anything more than the most briefest of eye motions. Key won’t...
    The Daily Blog | 16-08
  • “Dirty Politics” and The Teflon Man
    . L-R- David Farrar, John Key, Cameron Slater . The release of Nicky Hager’s book, “Dirty Secrets” has unleashed more of a political firestorm than many had anticipated. (Or, perhaps some did.) The glare of publicity has been shone like...
    The Daily Blog | 16-08
  • GUEST BLOG: Lyndelle Gibara – An Open Letter to Cameron Slater
    Dear Cameron,I am in Christchurch. I am not a ‘useless prick’. I have not asked to be ‘bailed out’ nor have my ‘scum friends’ in the eastern suburbs. I lost my cafe in September, the quakes wrecked my shop that...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Death threats or hit jobs?
    Shocked selfies while reading Dirty Politics are flooding Twitter - verily the vermin value their villainous vanity*    The beauty of Hager’s book is that there are so many horrific awful and insidious highlights, it’s difficult to know what to focus...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Labour release emails proving Key has lied
    Labour have released emails proving Key has lied about National Party involvement into the hacking of the Labour Party computer… The Labour Party has released documents it says proves its website was hacked by people working for the National Party....
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – the TV political panels are ridiculous
    The total lack of depth and shallow talent pool of TV political panel shows in NZ is providing hideous coverage and insight into one of the most important political stories of the year. Yesterday Firstline had Jacinda Ardern and Jamie...
    The Daily Blog | 15-08
  • Hager’s Dirty Politics – response to Canon NZ
    Poor old Canon NZ. They have been so damaged by appointing Cam’s mate as a judge and her awarding him their Best Blogger Award. I feel for them, I really do. They are amazing supporters of Journalism in NZ when...
    The Daily Blog | 15-08
  • Hager’s Dirty Politics – the legality of using stolen emails
    I wonder if Key is humming, “I’ve got one less problem withoutcha” as he deletes Cams number from his phone?   One of the attack spin lines being run by National Party apologists in the media is that Nicky Hager has...
    The Daily Blog | 15-08
  • New shark finning laws fall short for threatened species
    Environmental groups are welcoming some aspects of a raft of law changes announced today in relation to shark finning, but say that overall the chance for New Zealand to catch up with international efforts in shark conservation is being missed....
    Scoop politics | 20-08
  • Promoting Labour’s Positive Policies
    General Secretary of the New Zealand Labour Party, Tim Barnett, today launched Labour’s television advertisements for the 2014 election. The advertisements help tell Labour’s positive story for a better New Zealand....
    Scoop politics | 20-08
  • Drug Court: Rare Insight into New Alternative Justice Model
    Māori Television’s latest New Zealand documentary presents a fascinating look inside a new alternative justice model – through the stories of convicted criminals....
    Scoop politics | 20-08
  • Political parties pledge to increase overseas aid
    A survey of political parties looking at how much New Zealand should spend on Official Development Assistance (ODA) shows the overwhelming majority of parties are committed to raising the bar according to the Council for International Development (CID)....
    Scoop politics | 20-08
  • Top Kiwis backing Tip the Scales campaign
    Sir Graham Henry, former All Black Kees Meeuws, singer-song writer Jamie McDell and fishing guru Matt Watson have pledged their support to Tip the Scales, a pre-election campaign generating public support for rebuilding New Zealand’s depleted inshore...
    Scoop politics | 20-08
  • Maritime Union continues to press over dirty politics
    Maritime Union National President Garry Parsloe says Ports of Auckland management is trying to get off the hook from its involvement with extreme right wing bloggers during the Ports of Auckland dispute....
    Scoop politics | 20-08
  • No end in sight to overwhelming human cost of conflict
    Two ceasefires have brought some respite to civilians in Gaza and southern Israel, amid hope that a durable cessation of hostilities might occur. In Gaza, these breaks in the fighting have barely given people enough time to seek medical care,...
    Scoop politics | 20-08
  • Young Kiwi speakers to represent NZ at Gallipoli 2015
    The RSA is delighted at the announcement made by Veterans' Affairs Minister Michael Woodhouse today, that all eight regional finalists of the 2015 ANZ RSA Cyril Bassett VC Speech Competition will be included in a group of 25 Youth Ambassadors...
    Scoop politics | 20-08
  • “Bromance” Marriage Stunt Insulting Says LegaliseLove
    A promotional competition asking two best mates to get married in order to win an all-expenses-paid trip to the 2015 Rugby World Cup is insulting, marriage equality campaign LegaliseLove Aotearoa claims....
    Scoop politics | 20-08
  • Cannabis Party first to register for 2014 General Election
    The Aotearoa Legalise Cannabis Party became the first party to register for the 2014 General Election today, when it meet with the Electoral Commission in Wellington at Midday....
    Scoop politics | 20-08
  • PGA: Addresses NZ’s ratification of Arms Trade Treaty
    President of Parliamentarians for Global Action and New Zealand MP Ross Robertson today addressed a celebration to mark New Zealand’s imminent ratification of the Arms Trade Treaty (ATT), which is expected within the next few weeks....
    Scoop politics | 20-08
  • Roy Morgan Poll August 20
    National (48%) holds its lead over Labour/ Greens (39%) as ‘Dirty Politics’ revelations provide a new challenge for PM John Key’s leadership. NZ First surge to 6.5% - highest support since September 2013....
    Scoop politics | 20-08
  • IGIS inquiry into release of NZSIS information
    The Inspector-General of Intelligence and Security (IGIS), Cheryl Gwyn, announced today that she would be instituting an inquiry concerning allegations that the New Zealand Security Intelligence Service (NZSIS) might have released official information...
    Scoop politics | 20-08
  • Glen Scanlon to Head Digital Media at Radio New Zealand
    Radio New Zealand has announced the appointment of Glen Scanlon to the recently created position of head of digital media....
    Scoop politics | 20-08
  • Israel’s Gaza ceasefire violations go unreported
    It seems that it is only ceasefire violations that emanate from the Palestinian side that ever get publicised....
    Scoop politics | 20-08
  • Drug courier sentenced for importing heroin
    South African drug courier, Laura Elizabeth Cilliers, was sentenced today in the Christchurch District Court to 7 years and 10 months in prison for importing approximately 1.2 kilograms of heroin....
    Scoop politics | 20-08
  • Residential Property Speculators Days Numbered
    Rent heat cools as homes are replaced ... Liz McDonald ... The Press http://www.stuff.co.nz/the-press/business/your-property/10400851/Rent-heat-cools-as-homes-are-replaced Comment on thread (in moderation) … Christchurch is a “severely unaffordable” City as the Annual Demographia Survey ( www.demographia.com ) illustrates … thanks...
    Scoop politics | 20-08
  • Academic’s study shows need for a Ministry of Public Input
    A book by Associate Professor Jennifer Lees-Marshment recommends the creation of a Ministry of Public Input to collect, process and communicate the publics’ ideas to government. The University of Auckland’s political marketing expert says the...
    Scoop politics | 20-08
  • Government inaction killing innocent motorists
    Innocent people are dying due to long delays in installing centre lane barriers on high risk roads, says an outspoken road safety campaigner....
    Scoop politics | 19-08
  • Property revaluations for council rates must be reformed
    Opportunity to bring controls on rating value changes and more equitable level of annual rates increase...
    Scoop politics | 19-08
  • Ron Mark Sets the Example
    The Taxpayers’ Union is welcoming the pledge by Mayor of Carterton and NZ First candidate Ron Mark who has announced he would relinquish his roles as Mayor and member of two District Health Boards if successfully elected to Parliament. Taxpayers’...
    Scoop politics | 19-08
  • Ban 1080 Candidates announced for 2014 General Election
    MEDIA RELEASE: Angry rural communities want issue of 1080 aerial drops taken to the polls, says party co-leader Ban 1080 Candidates announced for 2014 General Election...
    Scoop politics | 19-08
  • Governor General Gives Direction to Conduct Election
    The Governor General, Lt Gen The Rt Hon Sir Jerry Mateparae, has given the green light for this year’s General Election....
    Scoop politics | 19-08
  • New Zealand Animal Groups Unite to Help
    WELLINGTON (19 Aug 2014) – The Be Cruelty-Free campaign to ban animal testing of cosmetics in New Zealand just got bigger and stronger, as two leading animal protection groups come on board. Joining forces with Humane Society International which has...
    Scoop politics | 19-08
  • Students Interrupt Steven Joyce at University Event
    A group of 30 students this evening interrupted an event about ‘the future of tertiary education’ at which Tertiary Education Minister Steven Joyce was slated to speak. As Joyce began to speak, students interrupted with a speech of their own....
    Scoop politics | 19-08
  • Caritas among first responders offering relief in Iraq
    As the plight of Iraqis fleeing persecution reaches tragic levels, Caritas Aotearoa New Zealand has pledged an initial $10,000 to support the work of Caritas in Iraq to provide humanitarian aid to thousands of families affected by the war and...
    Scoop politics | 19-08
  • iPredict 2014 Election Update #31: Nats take hit
    Election race narrows significantly · National party vote now below Labour/Greens · National’s probability of leading next government dips to 72% · Joyce expected to take over as National leader before end of 2015, as Collins’ prospects fall...
    Scoop politics | 19-08
  • Call for applications – Fulbright scholar awards
    Fulbright New Zealand calls for applications to a range of scholar awards for New Zealand academics, artists and professionals to undertake academic and cultural exchanges to the United States of America. A Fulbright exchange provides life-changing opportunities...
    Scoop politics | 19-08
  • CWS launches appeal for Iraqis on World Humanitarian Day
    Christian World Service is appealing for help for tens of thousands of Iraqis caught up in one of the world’s horrifying conflicts....
    Scoop politics | 19-08
  • Promoting the Voice of the Rangatahi
    Young Māori voters are seen by the Māori Party to have a vital part to play in saving the Māori seats in Parliament says the Māori Party’s youngest candidate, Reverend Te Hira Paenga. “What we’re hearing on the ground is...
    Scoop politics | 19-08
  • Nelson Election Candidates’ Community Forum
    Nelson’s community and volunteer sector has some serious questions to put to the local candidates in the run up to next month’s general election....
    Scoop politics | 19-08
  • Research NZ Budget Observer – Still On Track For Surplus
    New Zealand's Treasury today released their pre-election budget update, ahead of the 20 September vote. The government still expects to get back to surplus in 2014/15, albeit a slightly smaller surplus than expected in May. The growth forecasts were...
    Scoop politics | 19-08
  • Nicky Hager’s first public comment on police investigation
    A complaint has been laid with police by Cameron Slater over the hacking of his computer and 'theft' of emails to supply to Nicky Hager for his explosive book Dirty Politics . We give Nicky Hager the first chance to...
    Scoop politics | 19-08
  • Disabled Person’s Organisations report sent to UN
    A report written by Disabled Person’s Organisations (DPOs) representing the voice of disabled New Zealanders has been released and sent to the United Nations today....
    Scoop politics | 19-08
  • Fuel and electricity price gouging hits regions hardest
    Mere Takoko - New Zealand First East Coast Candidate For Immediate Release - Tuesday, 19 August, 2014...
    Scoop politics | 19-08
  • Government “opening of the books” shows wasted opportunity
    “The economic and fiscal forecasts in the pre-election update – the ‘opening of the government’s books’ – shows how the Government has failed to grasp the opportunity of the Global Financial Crisis to rebalance the economy,” says CTU...
    Scoop politics | 19-08
  • Kiwis take up the challenge to end extreme poverty
    High profile New Zealanders have been invited to participate in Live Below the Line (LBTL). Part of a global initiative, LBTL challenges Kiwis to raise awareness of extreme poverty and to live on a daily food budget of $2.25 for...
    Scoop politics | 19-08
  • NZ Independent Coalition announces strong list
    NZ Independent Coalition Secretary Helen Anderson announced the party’s candidates for the 2014 election today - 10 candidates total, with four also standing in electorates....
    Scoop politics | 19-08
  • National Chooses to Campaign on High Tax, High Spend Policy
    The Taxpayers’ Union is slamming Bill English’s indication that the National Party will not offer voters any indication of tax cuts before next month's general election. Speaking to journalists and analysts in the Pre-election Economic and Fiscal...
    Scoop politics | 19-08
  • SSC survey shows way forward for better public services
    The Public Service Association (PSA) has welcomed the release of the State Services Commission’s (SSC) Integrity and Conduct Survey 2013 , which it says indicates what needs to be done to strengthen the public services that New Zealanders use and...
    Scoop politics | 19-08
  • Talent pipeline is the key to correcting gender balance
    Building a talent pipeline that fosters talented young women from early on in their careers is the key to gender balance at the most senior levels, according to EEO Trust Chief Executive Bev Cassidy-Mackenzie....
    Scoop politics | 19-08
  • A-Team of Election Data Analysis For Election 2014
    NZ's leading independent online news source Scoop.co.nz has teamed up with data heavyweights Roy Morgan Research and Spark Venture's brand-new big-data start up Qrious to deliver a under the covers perspective on the 2014 NZ General Election that has never...
    Scoop politics | 19-08
  • Pre-election Economic and Fiscal Update 2014
    Full PREFU: prefu14whole.pdf Full Executive Summary with charts: prefu14pt2of11.pdf Online: Pre-election Economic and Fiscal Update 2014 — The Treasury - New Zealand...
    Scoop politics | 19-08
  • Survey of Integrity and Conduct in the State Services
    The State Services Commission (SSC) today published the report of the 2013 Integrity and Conduct Survey of the State Services. “The New Zealand State services is rated highly internationally for its standards of integrity and conduct and is considered...
    Scoop politics | 19-08
  • Demand for Same-Sex ‘Marriage’ Underwhelms
    Family First NZ says that one year on from the marriage law being politically manipulated, the demand for same-sex marriages has been underwhelming with just 318 same-sex couples rushing to take advantage of the new definition to formalise their relationship...
    Scoop politics | 19-08
  • Jacinda Ardern talks about life as an MP
    A class of Albany politics students gained some insight into life as a Member of Parliament this week, with a visit to campus from Labour List MP Jacinda Ardern....
    Scoop politics | 18-08
  • Regional issues top agenda for election debate
    Wellington regional issues, from the flyover to extending the airport, will be in the spotlight at an election debate at Massey University’s Wellington campus tomorrow....
    Scoop politics | 18-08
  • Walking and the Election
    The Green Party has topped the polls while National has failed to register according to NZ's pedestrian advocacy organisation Living Streets Aotearoa (LSA)....
    Scoop politics | 18-08
  • Evidence of the dubious tactics of the alcohol industry
    Nicky Hager’s latest book “Dirty Politics” reports the alcohol industry works behind the scenes to actively try and smear the professional reputation of people who promote effective alcohol reforms in New Zealand, as well as other public health...
    Scoop politics | 18-08
  • ACT’s plan to double cycle use without spending taxes
    "The National party yesterday announced a $100 million cycle-way that just happens to go through the marginal seat of Hutt South" said ACT Leader Dr Jamie Whyte....
    Scoop politics | 18-08
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