web analytics

Amazing coincidences

Written By: - Date published: 2:07 pm, November 23rd, 2010 - 35 comments
Categories: accountability, john key - Tags: , ,

You remember John Key’s ‘blind trust’ that turned out not to be so blind. Key denied all but anyone could easily see into the ‘blind trust’. Key certainly knew of his wine and dairy interests, giving him a conflict of interest he failed to declare. Now, after the furor, the ‘blind trust’ has sold the shares. Funny things, coincidences.

The ‘blind trust’ scandal broke in May of this year. We found out that Key had been participating in government decisions affecting the wine industry without declaring his large interest in a winery. Despite this interest being held by a supposedly blind trust, a clearly pissed PM knew all about it in a taped interview.

Then there was his interest in the Dairy Investment Fund. Like the interest in Highwater winery, the shares in the Dairy Investment Fund had been transferred to the ‘blind trust’ but to find out what the trust held all you had to do was enter its name, Whitechapel Ltd, on the Companies Office website. Key had sat on important government decisions that benefited the Diary Investment Fund too.

It was while researching one of these decisions (the subject of a future post) that I went to double check on the ‘blind trust’s holdings.

Funnily enough the holdings are gone. Whitechapel sold the Dairy Investment Fund shares on July 19th and the Highwater shares on August 18th.

So, Key had owned these shares for years (over six years for the dairy shares, two years for the winery) and then they are suddenly sold off after the revelation of the conflicts of interest that Key denies exist because he claims he doesn’t know what’s in his blind trust. Odd that the trustees should make those decisions when they did, if it were true that there’s no conflicts.

Also in my research, I discovered that Key used to be the major shareholder in another dairy company along with the trustee of his supposedly blind trust. Yep, funny things, coincidences.

35 comments on “Amazing coincidences ”

  1. toad 1

    If you have time for this sort of research Marty, how about some more on the Jenny Shipley, Sammy Wong, Pansy Wong connection. I’m sure there’s more to that story than we have heard so far.

    And it would be very interesting indeed to learn what Shipley has been using her international travel perk for since she stepped down as PM, although given the Parliamentary Service doesn’t come under the OIA that’s not something any amount of research could find out unless there is a whistle-blower in the Parliamentary Service who is prepared to spill the beans.

    • higherstandard 1.1

      It wouldn’t be interesting, it would be nauseating.

      We’re such a pathetically soft cock little country that no one has the balls to tell these pricks that their perks are gone and that we’ve legislated so they can’t sue for recompense.

      Another sickening old boys/girls club.

      • Robert Atack 1.1.1

        Yeah what these creeps are doing, should be classed as treasonable, and they should be seen as the treasonous bastards that they are, Key knows and understands money, yet he is running NZ like a Greek conman, selling us to his mates @$200 + million a week.
        Lets all join the Europeans on Dec 7th and withdraw all our money from the banks. If they see us doing it before them, NZ could be the world leaders in sticking it to Key and his mates. … oh that would mean a % of the idiot masses caring … sorry forgot, they don’t, they vote for the clowns instead.
        As George Carlin says -Fuck Hope – http://www.youtube.com/watch?v=4W9Cs6KPTus
        And don’t vote http://www.youtube.com/watch?v=xIraCchPDhk
        ‘hope’ it is ok posting these links.

    • toad 1.2

      I meant “stepped down as an MP”. She didn’t step down as PM – she got booted out.

  2. higherstandard 2

    Re the another dairy company – i think this has always been out in the open.

    http://www.nzherald.co.nz/john-key-the-unauthorised-biography/news/article.cfm?c_id=1502247&objectid=10523316

    “Haunui Dairy

    Another dairy investment company. Key owns 64 per cent of the company, which is being wound up. Haunui Dairy owned and operated a 200ha farm milking 650 cows at Tapanui, in Clutha. The company’s original owners were Key, dairy entrepreneur Geoff Taylor, ANZ National rural banking head Charlie Graham and farmers Craig Burgess and Jean Lawson.

    Burgess and Lawson had been sharemilkers on the farm when the previous owner decided to sell. They took a stake of about 40 per cent, and entered into an equity partnership arrangement with the other investors. The company owned the land, improvements, cows and machinery.

    Burgess and Lawson later sold their stake to the others. Lawson says they met Key once and found him “very nice, down to earth”. It had been a good arrangement for them, she said. The farm was bought in 2000-2001 for $3.4 million and was sold in 2006 (with a settlement date of May last year) for $5.4 million.

    With the sale of the farm, Haunui Dairy has been placed into liquidation. The liquidators say all machinery has been sold and most of the company’s affairs have been tidied up. No debts are owed, and the liquidator is simply waiting for the IRD to issue a small refund (about $900) before the company is officially wound up.”

  3. felix 3

    Marty, you might want to check that “doesn’t drink” link – it pretty clearly says that he does drink.

    Great post though.

  4. tc 4

    No surprises here and loving the intelligent/practical responses to our credit downgrading from a bloke who made millions dealing in international markets that react to these sorts of actions.

    Much like the blind trusts it’s all in the past and he can’t recall a thing.

    We are an international laughing stock with sideshow and blinglish sailing us towards oblivion.

  5. vto 5

    How is it that Key can get away with this bullshit? And what about Carter? and Creech? and the list goes on.

    How can government ministers make decisions on issues they have a vested financial interest in? It is completely and utterly wrong and it leads to just one conclusion…

    New Zealand’s government is corrupt – simple as that. Never thought I would say that but it is the ONLY conclusion given their circumstances and their actions. Some sort of judiciary action must be required surely.

    • insider 5.1

      So ministers can’t make any decisions on housing, cars, boats, clothing, farming etc etc? Pretty impossible standard you impose there. Only indigents should apply to be MPs in future eh?

      • felix 5.1.1

        Are you trying to equate owning a car with, say, owning a car sales yard?

        It sounds like you’re having trouble with the actual concept of a “conflict of interest” as opposed to disagreeing on the existence of one.

        • insider 5.1.1.1

          No, and you and marty and vto seem to have issues with the concept of degrees of conflict as exemplified by “How can government ministers make decisions on issues they have a vested financial interest in? It is completely and utterly wrong…”

          You don’t seem to think owning a car is a vested financial interest. Well for me it is as it is the second most valuable thing I own.

          But I don’t think the existence of a potential conflict is always an issue – it is the relative level of risk that is important, and the specificity of the conflict.

          Using your car yard example, if a rule affecting the profitability of car yards was being made by me it would be a clearer conflict if I operated the yard than if i just owned the land underneath it. But the risk would increase if I owned a series of such properties even if I didn’t run the yard.

          Blanket statements that any vested financial interest is akin to opening the door to corruption ignore the subtleties of what real conflicts of interest are and lead to stupid ‘where there;s smoke there must be fire’ type posts as Marty’s.

          • felix 5.1.1.1.1

            Yeah ‘cos the post was about how Key has a vested interest in eating steak & cheese pies and using grapeseed oil.

            Oh no hang on that’s bullshit – it’s about him owning dairy companies and vineyards.

            You’re the one having trouble with degree.

  6. tc 6

    ‘Some sort of judiciary action must be required surely.’

    yes after they’ve passed some more ‘laws’ under urgency which sees black become white or shades of grey it’ll be for the AG to decide, corruption as we knew it declared standard operating procedure and parliamant only sits when the weathers not so great in Hawaii.

  7. Jeremy Harris 7

    I’d like to see the cabinet manual amended so all cabinet members interests are listed and an independent thrid party (Clerk of the House maybe) decide if you should be recused…

    • Lanthanide 7.1

      Seems the only sensible way to do it.

    • Kevin Welsh 7.2

      I would like to see something even simpler Jeremy.

      If you decide to take the route of Public Service, then you divest yourself of your business interests. This is the only way you can be seen as having no conflict of interest.

      • insider 7.2.1

        Why stop there Kevin? Why only business interests? Why not say Labour members can have no legitimate views on union issues because of the almost obligatory membership of and alliance with unions. Can you imagine the furore if they were forced to renounce their membership of unions?

        • higherstandard 7.2.1.1

          Perhaps we could lobotomise and neuter all elected representatives ?

        • felix 7.2.1.2

          “Why stop there Kevin? Why only business interests? Why not say Labour members can have no legitimate views on union issues…”

          Because the object of this exercise is to ensure that elected officials are not directly profiting from the decisions they’re supposed to be making on behalf of the rest of us.

          Sheesh, it’s not that difficult a concept innit?

          • insider 7.2.1.2.1

            Kevin said “This is the only way you can be seen as having no conflict of interest.”

            He said no conflict of interest at all, not just financial benefit as a business owner. Conflicts occur everywhere; it’s unavoidable when you begin to own assets. Just because you own a house, shouldn’t mean you can’t get involved in discussions on rules about house ownership even though you have a material interest.

            Adn of course none of this covers the future advantage that changing a rule might give. So it’s how you manage conflicts that counts, not trying to eliminate them.

            • Kevin Welsh 7.2.1.2.1.1

              The article was about COI from a financial standpoint and that was what I commented on. Don’t put words in my mouth Insider.

            • felix 7.2.1.2.1.2

              insider, that’s a feeble man of straw you’re attacking.

              When you’ve finished perhaps you’d care to comment on the topic at hand.

      • insider 7.2.2

        AN asset register means that the people can see and judge for themselves whether there is any conflict. They did exactly that over Marty’s so called scandal and demonstrated they just don’t accept that Key had done anything unusual or had a COI. No doubt Marty’s next scandal will be another H Fee fizzer to all but the Keystoned Cops

        • Kevin Welsh 7.2.2.1

          Unless, of course, you have a so-called ‘Blind Trust’. Then there would be no reason for an Asset Register, Insider.

          • insider 7.2.2.1.1

            No because a blind trust is a management tool – it would be foolish to assume you have no knowledge of what was initially in the trust, because it would be your actions that created the trust and transferred assets into it. That of course may change over time as assets move. So listing the initial assets of such a trust is important.

      • Vicky32 7.2.3

        An excellent idea, Kevin!
        Deb

Links to post

Recent Comments

Recent Posts

  • Tokelau Language Week reminds us to stay united and strong
    Staying strong in the face of challenges and being true to our heritage and languages are key to preserving our cultural identity and wellbeing, is the focus of the 2020 Tokelau Language Week. Minister for Pacific Peoples, Aupito William Sio, says this year’s theme, ‘Apoapo tau foe, i nā tāfea ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • NZ announces a third P-3 deployment in support of UN sanctions
    The Government has deployed a Royal New Zealand Air Force P-3K2 Orion (P-3) maritime patrol aircraft to support the implementation of United Nations Security Council (UNSC) resolutions imposing sanctions against North Korea, announced Minister of Foreign Affairs Winston Peters and Minister of Defence Ron Mark. “New Zealand has long supported ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Pacific trade and development agreement a reality
    Pacific regional trade and development agreement PACER Plus will enter into force in 60 days now that the required eight countries have ratified it. Trade and Export Growth Minister David Parker welcomed the announcement that the Cook Islands is the eighth nation to ratify this landmark agreement. “The agreement represents ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Securing a pipeline of teachers
    The Government is changing its approach to teacher recruitment as COVID-19 travel restrictions continue, by boosting a range of initiatives to get more Kiwis into teaching. “When we came into Government, we were faced with a teacher supply crisis,” Education Minister Chris Hipkins said. “Over the past three years, we ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Border exceptions for a small number of international students with visas
    The Government has established a new category that will allow 250 international PhD and postgraduate students to enter New Zealand and continue their studies, in the latest set of border exceptions. “The health, safety and wellbeing of people in New Zealand remains the Government’s top priority. Tight border restrictions remain ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • First COVID-19 vaccine purchase agreement signed
    The Government has signed an agreement to purchase 1.5 million COVID-19 vaccines – enough for 750,000 people – from Pfizer and BioNTech, subject to the vaccine successfully completing all clinical trials and passing regulatory approvals in New Zealand, say Research, Science and Innovation Minister Megan Woods and Health Minister Chris Hipkins. ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • International statement – End-to-end encryption and public safety
    We, the undersigned, support strong encryption, which plays a crucial role in protecting personal data, privacy, intellectual property, trade secrets and cyber security.  It also serves a vital purpose in repressive states to protect journalists, human rights defenders and other vulnerable people, as stated in the 2017 resolution of the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Ministry of Defence Biodefence Assessment released
    The Ministry of Defence has today released a Defence Assessment examining Defence’s role across the spectrum of biological hazards and threats facing New Zealand. Biodefence: Preparing for a New Era of Biological Hazards and Threats looks at how the NZDF supports other agencies’ biodefence activities, and considers the context of ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New Approaches to Economic Challenges: Confronting Planetary Emergencies: OECD 9 October 2020
    New Approaches to Economic Challenges: Confronting Planetary Emergencies: OECD 9 October 2020 Hon David Parker’s response following Thomas Piketty and Esther Duflo. Good morning, good afternoon, and good evening, wherever in the world you might be. I first acknowledge the excellent thought provoking speeches of Thomas Piketty and Esther ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Kaipara Moana restoration takes next step
    A Memorandum of Understanding has been signed today at Waihāua Marae between the Crown, local iwi and councils to protect, restore and enhance the mauri of Kaipara Moana in Northland. Environment Minister David Parker signed the document on behalf of the Crown along with representatives from Ngā Maunga Whakahī, Ngāti ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New Zealand and Uruguay unite on reducing livestock production emissions
    Agriculture Minister Damien O’Connor and Uruguayan Minister of Livestock, Agriculture and Fisheries Carlos María Uriarte have welcomed the launch of a three-year project that will underpin sustainable livestock production in Uruguay, Argentina, and Costa Rica.  The project called ‘Innovation for pasture management’ is led by Uruguay’s National Institute of Agricultural ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • 3100 jobs created through marae upgrades
    Hundreds of marae throughout the country will be upgraded through investments from the Provincial Growth Fund’s refocused post COVID-19 funding to create jobs and put money into the pockets of local tradespeople and businesses, Regional Economic Development Minister Shane Jones and Māori Development Minister Nanaia Mahuta have announced. “A total ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Health volunteers recognised in annual awards
    Health Minister Chris Hipkins has announced 9 teams and 14 individuals are the recipients of this year’s Minister of Health Volunteer Awards.  “The health volunteer awards celebrate and recognise the thousands of dedicated health sector volunteers who give many hours of their time to help other New Zealanders,” Mr Hipkins ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Community COVID-19 Fund supports Pacific recovery
    The Minister for Pacific Peoples, Aupito William Sio says a total of 264 groups and individuals have successfully applied for the Pacific Aotearoa Community COVID-19 Recovery Fund, that will support Pacific communities drive their own COVID-19 recovery strategies, initiatives, and actions. “I am keen to see this Fund support Pacific ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Community benefits from Māori apprenticeships
    Up to 50 Māori apprentices in Wellington will receive paid training to build houses for their local communities, thanks to a $2.75 million investment from the Māori Trades and Training Fund, announced Employment Minister Willie Jackson today. “This funding will enable Ngāti Toa Rangatira Incorporated to provide its Ngā Kaimahi ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Training fund supports Māori jobseekers
    Rapidly growing sectors will benefit from a $990,000 Māori Trades and Training Fund investment which will see Wellington jobseekers supported into work, announced Employment Minister Willie Jackson today. “This funding will enable Sapphire Consultants Ltd. to help up to 45 Māori jobseekers into paid training initiatives over two years through ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Ruakura Inland Port development vital infrastructure for Waikato
    The Government is investing $40 million to develop an inland port at Ruakura which will become a freight super-hub and a future business, research and residential development for the Waikato, Urban Development and Transport Minister Phil Twyford, and Māori Development Minister Nanaia Mahuta announced today. The funding has been has ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Appointments made to Defence Expert Review Group
    Defence Minister Ron Mark announced today the establishment of an Expert Review Group to review a number of aspects of the New Zealand Defence Force’s (NZDF) structure, information management and record-keeping processes.  The Expert Review Group’s work arises out of the first recommendation from the Report of the Government’s Inquiry ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • No active community cases of COVID-19
    There are no active community cases of COVID-19 remaining in the country after the last people from the recent outbreak have recovered from the virus, Health Minister Chris Hipkins said today. “This is a big milestone. New Zealanders have once again through their collective actions squashed the virus. The systems ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Clean energy upgrade for more public buildings
    More public buildings will be supported by the Government to upgrade to run on clean energy, the Minister for Climate Change James Shaw announced today. Minister Shaw announced that Lincoln and Auckland universities will receive support through the Clean-Powered Public Service Fund to replace fossil fuel boilers. Southern, Taranaki, and ...
    BeehiveBy beehive.govt.nz
    3 weeks ago
  • Schools back donations scheme for the second year
    More schools have opted in to the donations scheme for 2021, compared to 2020 when the scheme was introduced. “The families of more than 447,000 students will be better off next year, with 94% of eligible schools and kura opting into the scheme,” Education Minister Chris Hipkins said. “This is ...
    BeehiveBy beehive.govt.nz
    3 weeks ago
  • Ruapehu cycle trails gets PGF boost
    The spectacular Mountains to Sea cycle trail in Ruapehu District will receive $4.6 million in funding from the Provincial Growth Fund for two additional trails, Regional Economic Development Minister Shane Jones announced today. “This is an exciting development for the local community, and one that will provide significant economic opportunities ...
    BeehiveBy beehive.govt.nz
    3 weeks ago