Why does this myth that the private sector is better persist in this country? At every turn, the bosses show themselves to be a bunch of greedy, short-sighted half-wits.
Take Line 7. Outsourced their production to China. Built their business model on the assumption that the NZD would stay high. Didn’t hedge. NZD, predictably, falls. Business model stuffed. Owner has a cry on National Radio: ‘who could have known the value of a commodity currency would fall in a global recession!’ 120 Kiwis out of a job (on top of the ones who were actually making the clothes before the outsourcing).
The genius boss who pocketed the profits for 20 years and stuffed it all up stays rich. Of course.
What kind of morons can’t even hedge against the inevitability that the NZD won’t keep buying 80 cents US forever? Our capitalist class, that’s who. This latest moronic failure is just another in the long, inglorious history of the trumped up fools who think they, not the workers, create the wealth in this country.
All they’re good at is rent-seeking. ‘Oh, don’t make us pay for our carbon emissions, get the taxpayer to cover us’, ‘give us a tax-cut or we offshore’, ‘help, we can’t even hedge’, ‘set us up a private public partnership – profits to the privates, risk to the public’, ‘how’s about some juicy contracts?’, ‘did someone say corporate welfare?’. Losers.
We’re meant to turn over delivery of more vital public services to this lot of incompetents? Bollocks to that. Wouldn’t trust them to run a cake-stall. Shouldn’t let them near our health, education, and infrastructure.