assets

Categories under assets

Villain or hero

Written By: - Date published: 4:09 pm, March 5th, 2012 - 158 comments

The Nats have announced their asset sales legislation. Mum and dad aren’t at the front of the queue. No provisions to ensure 85-90% stays in Kiwi hands. Nothing to stop the companies being sliced up and sold after partial privatisation. No real way to stop one company owning more than 10%. There’s 1 vote that can stop this. It’s all down to Dunne now. Will he be the hero or the villain?

Nat revolt over Crafars sale

Written By: - Date published: 9:15 am, March 4th, 2012 - 70 comments

Remember the hagiographies after the first hundred days of National’s first term? In the second term, things couldn’t be more different. The Sunday-Star Times has printed dozens of emails it obtained (a leak?) that were sent to Key opposing the sale of Crafar farms. Many of them are brutal comments from former National supporters. Key didn’t even provide comment for the article.

Ryall confirms asset stripping on the cards

Written By: - Date published: 9:50 am, March 2nd, 2012 - 136 comments

So, National wants to re-assure us that, when they sell our assets against our will, they’ll keep 51% and control. But, um, minority shareholders have rights and private boards have to maximise profits ahead of the national interest. If they decide to sell off the dams later they can, and the Nats won’t stop them.

Shearer makes a difference

Written By: - Date published: 4:59 pm, February 24th, 2012 - 46 comments

David Shearer spoke to Greypower in Auckland today about the difference between Labour and National. The speech shows Shearer is his own man. He wants a new style of politics, focussed on the future, planning to make a difference. I think he will.

Asset sales: No Dunne deal

Written By: - Date published: 7:37 am, February 22nd, 2012 - 71 comments

Asset sales will only happen if Peter Dunne votes for them. It is his choice whether we keep our strategic assets, or lose control of them forever. So, constituents in Dunne’s electorate of Ohariu have established the Citizens’ Select Committee to hear the arguments that the Government will not and a report to Parliament. Make your submission.

Crowd-sourcin’: asset sales question

Written By: - Date published: 11:37 am, February 21st, 2012 - 47 comments

Economic sovereignty is suddenly the hot issue with the vast majority of Kiwis opposed to more foreign ownership and asset sales. The Nats are in a spin: Key is desperately trying to upgrade English’s ‘guess’ on the fiscal impact of asset sales to a “best estimate”. Time for that asset sales referendum petition. Maybe you can help draft the question.

How low will they go?

Written By: - Date published: 11:53 am, February 20th, 2012 - 11 comments

The Nats are looking to Queensland for lessons in privatisation. They want to see how incentives for locals to hold on to their shares work. But you don’t pay for incentives with magic beans. Any incentives for the few locals who can afford to buy shares just means a diminished return to the government, making the economic and fiscal rationale for selling even weaker.

Nats want more expensive ACC so private insurers can profit

Written By: - Date published: 10:48 am, February 18th, 2012 - 127 comments

Private sector competition brings market disciplines and efficiencies to bloated publicly-owned monopolies. That’s the mantra, eh? That’s the indisputable truth… right? So, how come the Nats are planning to make ACC raise its levies and pay a dividend – for the first time ever – so that private insurers can compete? And how does that benefit NZ?

Even English’s made-up asset sales numbers don’t add up

Written By: - Date published: 10:59 am, February 17th, 2012 - 20 comments

Bill English admitted yesterday that his new estimate that asset sales will net $6b in revenue, $800m above book value, is just a guess – the midpoint of the previous guess of $5-7b. And that’s not all that’s made up. The forecast foregone profits are way under-estimated. Even with these fiscal frauds, English still can’t get asset sales to make economic sense.

Key’s ‘sell, sell, sell’ mantra out of touch with NZ

Written By: - Date published: 7:47 am, February 16th, 2012 - 77 comments

The Crafar Farms decision is sensible and a correct interpretation of the law. Foreign buyers must add something that a local buyer can’t, other than a higher purchase price. Otherwise, our farmers will continue to be out-bid for our land by foreign government-backed companies that can afford a lower rate of return, and NZ will gain nothing. So, why is National rushing to change the law?

Selling asset sales to [insert region here]

Written By: - Date published: 11:09 am, February 13th, 2012 - 19 comments

Not everyone in the Beehive is thrilled that National is throwing away its chance at a third term for the sake of asset sales which make no sense, economically or politically. The Standard has obtained a copy of the generic column that National MPs are meant to add some ‘local flavour’ to and have published in their regional papers. It shows how cynical and shallow their position really is.

The circling vultures

Written By: - Date published: 10:59 am, February 11th, 2012 - 105 comments

People are waking up to National’s plan to remove the democratically-elected Christchurch City Council and replace it with its own hand-picked commissioners, who will then give a green light to Brownlee’s developer mates and the sale of council assets. You can already see the vultures circling – waiting for the chance to seize more public wealth for themselves.

Opposition parties hammer Key on asset sales

Written By: - Date published: 12:11 pm, February 9th, 2012 - 32 comments

Yesterday, the opposition parties worked together to hammer John Key on asset sales. He faced questions from four parties during one question; the breadth of opposition showed, and Key was stumbling. Some say Shearer should be taking a more leading role but, for mine, this was far more effective than Goff uselessly slogging out a primary and half a dozen sups without landing a blow. How’s that anti-asset sales coalition coming?

Time for an anti-asset sales coalition

Written By: - Date published: 1:50 pm, February 7th, 2012 - 128 comments

Mana, NZF, the Greens, and even the Maori Party, are suddenly grabbing the asset sales issue from Labour, just when it actually started to be a really valuable issue to lead on. Shearer should stop playing pundit on whether the Maori Party will go and how ‘unstable’ that makes the government. Instead, realise the broad base of opposition to asset sales and build a coalition to stop them.

Don’t dream it’s over

Written By: - Date published: 7:42 am, February 1st, 2012 - 76 comments

The Maori Party is threatening to leave the government over the asset sales legislation removing the companies’ Treaty obligations. Key knows their threat is hollow. He just got away for 3 years of insulting Maori and worsening Maori statistics. Why would Sharples and Turia take a pay cut and lose their limos for their last few months working before retirement?

Maori Party to quit Govt?

Written By: - Date published: 2:04 pm, January 31st, 2012 - 86 comments

News in on the Herald says the Maori party are talking the talk over National’s latest insult to Maori.

Will they quit the Government?  Or will the smell of those limo seats  mean another backdown in a couple of weeks?

Kiwis want to keep our land, will Key listen?

Written By: - Date published: 8:57 am, January 31st, 2012 - 35 comments

I/S at NoRightTurn says we should hold Key to his latest pathetic excuse making for his inaction on the sale of our farmland overseas: “John Key’s excuse for the Crafar farms sale? His hands were tied. But he’s promising to change the law if we make enough noise about it” Unfortunately, Key doesn’t mean it. He has no intention of listening.

Being tenants in our own land now OK by Key

Written By: - Date published: 8:57 am, January 26th, 2012 - 585 comments

When he was running for re-election, John Key said he opposed selling the Crafar farms offshore: “I am concerned about the risk that New Zealanders become tenants in their own land”. Now he has won what is very likely his last term, he doesn’t give a damn about the farms going into foreign ownership and our publicly-owned farming company literally becoming the tenant of the land.

Local board members support wharfies

Written By: - Date published: 7:24 am, January 18th, 2012 - 6 comments

The travesty of the Port of Auckland dispute is that we have a publicly-owned company trying to slash its workers’ pay so that it can try to undercut another majority publicly owned company that has already slashed wages, the only winners being the foreign shipping lines. Well, here’s some of our representatives standing up for Auckland workers.

Tenants in our own land

Written By: - Date published: 12:55 pm, January 14th, 2012 - 54 comments

See Landcorp planning to pay $18m a year rent to a government-linked Chinese firm to run the Crafar farms? So New Zealand is in the enviable position of having to pay rent to foreign owners to farm our own land. Key promised we wouldn’t be tenants in our own land. What’ll be Key’s priority: cutting Kiwi workers’ wages or keeping our land in Kiwi hands?

Report shows ports not to blame for freight costs

Written By: - Date published: 10:19 am, January 13th, 2012 - 5 comments

The Productivity Commission reports that freight costs are 25% higher here than in Australia and freight costs as a % of cargo value has risen in recent years. Their solution? Make the public and port workers poorer by privatisation and casualisation. Of course, those are ideological goals, not solutions to the freight cost issue, which has nothing to do with ports.

Emerson on privatisation

Written By: - Date published: 7:27 am, January 11th, 2012 - 24 comments

And so it begins

Written By: - Date published: 10:47 pm, December 15th, 2011 - 218 comments

Mighty River Power is first on the block, to be sold in the third quarter of next year (weather conditions permitting).

The big win

Written By: - Date published: 11:22 am, December 12th, 2011 - 41 comments

The new government comprises the same parties as the previous one: National, ACT, United Future, and the Maori Party but with 64 votes, not 69. The governing parties’ total vote fell from 51.84% to 50.41%. Even the narrower Nat+ACT bloc fell. National’s ‘big win’ was just one more seat. And the most powerful man in the country now? Peter Dunne.

The face of asset sales

Written By: - Date published: 7:33 am, December 12th, 2011 - 152 comments

Peter Dunne could stop the sale of our assets but he won’t.

Even though he didn’t campaign on selling them.

If he had it’s unlikely he’d have won his seat – let’s hope his constituents hold him accountable.

Right-wing Herald element goes OTT

Written By: - Date published: 8:29 pm, December 10th, 2011 - 61 comments

John Armstrong’s column today – not yet on website – is extraordinary. “Elements on the left cried wolf about National having a secret agenda” Armstrong’s faux outrage is generated by the fact that National’s charter schools policy was not part of any election mandate, and some people have pointed this out. Funny how people on the left are always “elements” – couldn’t possibly have a mind of their own.

Buying back the assets

Written By: - Date published: 9:26 am, December 5th, 2011 - 216 comments

David Cunliffe has said that, if he is Labour leader, he will look to buy back any assets National sells once he is PM. Under the existing Takeovers Code, that wouldn’t be too hard. But why not go a step further and make it clear to any potential investor that our energy sector won’t be their cash cow? A bit of regulatory reform would sink the assets’ share value.

A vote for Key is a vote for asset sales

Written By: - Date published: 11:00 pm, November 25th, 2011 - 66 comments

76% of Kiwis are against National’s plan to sell our assets. We know it just doesn’t make sense. We know privatisation leads to higher prices, under-investment, asset-stripping, and profits going overseas rather than into public services. Make no mistake: the only way to stop asset sales is to vote Green, Mana, Labour, or New Zealand First.

Will Key sign pledge not to sell Kiwibank?

Written By: - Date published: 11:42 am, November 23rd, 2011 - 97 comments

Phil Goff has signed a pledge that Labour will not sell Kiwibank if it becomes government. Other party leaders have been invited as well. I expect the Greens, New Zealand First, Mana, and the Conservatives will (who knows about the Maori Party). But will Key sign? National is secretly itching to sell Kiwibank, Bill English got caught out admitting as much.

Nat asset sales lies

Written By: - Date published: 7:07 am, November 23rd, 2011 - 53 comments

Last night TV1 revealed National’s lies on the explosive topic of asset sales.  The Nats have no official advice to back up their asset sales claims, and information is being withheld from the public.  Not good enough – vote them out.

Going, going, gone?

Written By: - Date published: 11:11 am, November 15th, 2011 - 5 comments

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