assets
Categories under assets
- privatisation (506)
NRT: John Key lied to our faces
Written By: - Date published: 9:15 am, December 23rd, 2013 - 36 comments
No Right Turn is annoyed at having a deliberate liar for a Prime Minister. Who wouldn’t be pissed off with the incompetent lying slimeball. It turns out that John Key lied to our faces when he said that no decision had been made on when his government would sell Air New Zealand
Last day to vote
Written By: - Date published: 7:11 am, December 12th, 2013 - 43 comments
This is the last day that you can vote No in the referendum on asset sales. So dig that form out, mark it and send it. This referendum vote is a clear way to send a message that even a self-serving delusional National MP can understand. Being able to form a government is not a mandate to do whatever you feel like with our assets.
1.2 million people have voted in the no asset sales referendum so far
Written By: - Date published: 7:59 pm, December 10th, 2013 - 175 comments
But we need more. So persuade your family, friends, colleagues, acquaintances or people that you have a passing relationship to send in their voting papers. Time is running out …
‘Mum & Dad’ right to be angry with Nats
Written By: - Date published: 9:42 am, December 5th, 2013 - 40 comments
Mighty River, Meridian, and Air New Zealand are all now trading well below their listing prices costing ‘mum and dad investors’ who were taken in by National’s ad campaign tens of millions of dollars of their savings. Bill English’s angry response is ‘you would be complaining if they had made windfall gains too’. He’s right. And there’s the rub.
Transmission Gully: they profit, you pay
Written By: - Date published: 8:53 am, December 4th, 2013 - 34 comments
The proponents of Public-Private Partnerships offer two justifications for the extra cost compared to normal government financing: 1) a mystical claim that the private sector will find efficiencies in a PPP that they wouldn’t find if they were just contracted to build a project normally and 2) risk is shared between the taxpayer and the private investors. Except it’s not.
NZ Herald editorial smears the Referendum
Written By: - Date published: 10:42 am, November 30th, 2013 - 28 comments
NZ Herald editor/s selectively reports, omitting the full facts, in favour of the National government. It misrepresents the referendum on asset sales, ignoring significant facts – thereby also seeming to discredit the Green Party, the referendum, & democracy.
Assets sales make Crown a billion poorer
Written By: - Date published: 9:22 am, November 29th, 2013 - 122 comments
In the Budget, the Government said asset sales would increase the net worth of the Crown by half a billion dollars because eager mums and dads were going to snap the shares up for more than they were worth on the government books. As we know, it didn’t quite work out that way. The Greens have updated the Budget and found the impact is $1.5 billion worse than expected.
Only 6,500 ‘mums and dads’ for Air NZ
Written By: - Date published: 7:13 am, November 23rd, 2013 - 69 comments
It just gets worse. Only 6,500 ‘retail investors’ bought shares in the Air NZ asset sale. These are the so-called ‘mums and dads’ who National said would flock to buy into the asset sales. 0.15% of the population. And these are some rich ‘mums and dads’ – they bought $23,000 of shares each on average. Let’s face facts: the asset sales have failed in their own terms. National has failed New Zealand.
Who wants some Genesis shares?
Written By: - Date published: 7:20 am, November 21st, 2013 - 120 comments
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. Let’s look at your losses.
Enrol for the referendum by the 21st
Written By: - Date published: 3:57 pm, November 19th, 2013 - 41 comments
If you aren’t currently enrolled or are unsure, then you will have to be enrolled in the next few days. We can shove the lie of “mandate” straight back into this National government’s lying face. Maybe when National are deprived of that silly excuse for their theft, they will stop stealing.
Nats’ demolition derby
Written By: - Date published: 5:20 pm, November 18th, 2013 - 107 comments
John Key’s government is going full tilt at dismantling everything of value in NZ, and selling as much as possible to the overseas investors. It’s the government of Drill It, Mine it, Sell it. Find out about the asset sales referendum & how to vote.
Air New Zealand sale starts tomorrow
Written By: - Date published: 4:40 pm, November 17th, 2013 - 294 comments
The Government has announced that the sell down of Air New Zealand shares will occur over the next two days.
Air NZ sale coming on the quiet
Written By: - Date published: 7:57 pm, November 13th, 2013 - 121 comments
Word is out that National is going to slam through the sale of its Air NZ shares early next week ahead of the referendum. No mention of ‘mum and dad’ investors this time. No ad campaign imploring you get ‘get your share’. Nope. It’ll be a quick and dirty sale to some big institution which will then divvy it up to other institutions. We might not even be told until after the fact.
Key rewrites history for “Crazy Colin”
Written By: - Date published: 5:00 pm, November 13th, 2013 - 68 comments
Answering questions on the up-coming Asset Sales referendum, John Key spoke some appalling un-truths. He is rewriting political history to suit “Crazy” Colin Craig’s possible coalition bottom lines on the “anti-smacking” law. Cunliffe finally got there in the General Debate, but the opposition was too slow in countering Key’s lies & spin.
Couldn’t organise a piss up in a brewery
Written By: - Date published: 7:18 am, November 6th, 2013 - 99 comments
National was warned not to give the main ultrafast broadband contracts to Chorus. All it would do would restore and strengthen the monopoly that had kept internet prices too high (which Cunliffe has addressed). Of course, National ignored that. And now, once again, National finds itself in a corner, about to bailout out a large corporate that is using its market power to threaten its political agenda.
Key says ‘damn the torpedoes’ on asset sales
Written By: - Date published: 7:30 am, October 30th, 2013 - 44 comments
The asset sales have been an unmitigated failure. They’ve raised less money than expected, they’ve cost more than twice as much as National said they would, no ‘mums and dads’ have shown up to buy the shares, and the public is waiting for its referendum. Now, it turns out that Treasury warned Key not to flood the market but Key plans to keep on flooding it.
National’s failed asset sales
Written By: - Date published: 12:07 pm, October 26th, 2013 - 17 comments
Asset sales: Key’s scorched earth tactics will backfire
Written By: - Date published: 9:14 am, October 25th, 2013 - 60 comments
Granny supported little Johnny’s plan to go off to market and sell the family’s cash cow. But even she’s furious that what he’s come back with amounts to nothing more than a hill of beans. As Granny Herald notes, the Nats’ determination to push ahead with the remaining sales regardless is all about ideology, and the knowledge that they’re going to lose the next election.
The Meridian flop
Written By: - Date published: 7:29 am, October 24th, 2013 - 143 comments
National’s trying to blame it on Labour and the Greens for the Meridian sale flop, which attracted only a quarter of the expected ‘mums and dads’ (rich ‘mums and dads’ who put in $18k each). But let’s just get this straight: the decision to sell was National’s. If they don’t think they’re getting the price that they should for the sales, then they should stop them.
Where did Mighty River get that spare $50m?
Written By: - Date published: 7:57 am, October 16th, 2013 - 44 comments
So, Mighty River Power has so much spare cash at the moment that it just doesn’t know what to do with it. Rather than pay out a special dividend, they’re going to buy back some shares. This, naturally, has raised eyebrows because these shares were only just sold to ‘mum and dad’. But the bigger question is: where did Mighty River get a spare $50m in the first place?
From failure to farce
Written By: - Date published: 7:44 am, October 11th, 2013 - 95 comments
“John Key’s asset sales have descended from failure to farce” – that’s how Metiria Turei described the announcement that Mighty River Power will be buying back shares just five months after they were privatised. Clayton Cosgrove put it more bluntly: “It’s a good thing the government doesn’t own a brewery cos they couldn’t organise a pi .. a DRINK in one”.
Mighty River Power is buying back shares
Written By: - Date published: 11:32 am, October 10th, 2013 - 45 comments
The Board of Mighty River Power has announced that it is buying back up to 2% of its shares because this is a prudent use of capital and will be value enhancing. It is a shame that the Government was incapable of seeing this. Expect a surge in its share price to occur and I suspect that this will be beneficial for the Meridian float.
$1.6 million a week lost net dividends from Meridian
Written By: - Date published: 9:30 am, October 7th, 2013 - 12 comments
The asset sales costs just keep on rising. The tally so far is $124 million. The ‘buy now, pay later’ scheme for Meridian is going to cost $61 million. There will be tens of millions in other sales costs. Now, the Greens have calculated the lost net dividends from Meridian alone at $1.6 million per week. Makes the referendum seem like a good investment in telling Key this is not OK.
Your Brighter Future: Burn.
Written By: - Date published: 1:13 pm, October 2nd, 2013 - 15 comments
“I just utter one fear…”
Remember that?
Breaking news on the Keep Our Assets Referendum
Written By: - Date published: 4:39 pm, September 30th, 2013 - 58 comments
John Key has today announced that the keep our assets referendum will be conducted by postal vote later this year. He has also announced the Christchurch East by election will occur on November 30. And National MP Chris Tremain has announced that he will not seek re election next year.
Have the Nats been at the insanity peppers?
Written By: - Date published: 6:57 am, September 23rd, 2013 - 23 comments
Selling Mighty River shares was bad enough: $66m taxpayer dollars spent on selling shares with a dividend yield of 6% (the total shareholder return for the Crown last year was 11%) to avoid borrowing at 4% . That’s spending money to lose money. Not crazy enough, apparently. For the Meridian sale, they’ve doubled down. The cost will be $100m and they’ll be selling shares with a dividend yield of 8%.
Have National’s asset sales officially cost more than they’ll earn?
Written By: - Date published: 7:00 pm, September 22nd, 2013 - 51 comments
In a previous post at The Standard I did a wee bit of math and came to the conclusion that National has already made $5.26 billion worth of spending promises out of the Future Investment Fund, the not-actually-a-fund chunk of cash they plan to make from selling taxpayer-built infrastructure to their mates. Things have developed. […]
You’re paying for interest-free loans to foreign bankers
Written By: - Date published: 9:00 am, September 19th, 2013 - 89 comments
You will have heard of this ‘buy now, pay later’ plan that the Nats have to try to save the Meridian sale. Pay 60% of your shares’ price up front, the remaining 40% in 18 months. It’s an interest-free loan, funded by higher government borrowing. What we didn’t know is this outrageous fact: this taxpayer-funded interest-free loan will be extended to foreign banks
John Key’s anti-democratic government
Written By: - Date published: 9:31 am, September 17th, 2013 - 48 comments
John Key tries to smear the winner of Labour’s democratic leadership contest as “far left”, while his government continues in its anti-democratic, plutocratic ways: sale of Meridian to avoid referendum; Joyce’s Broadband pricing “arm twisting”.
Colin James on the asset sales referendum & Nats’ economic record
Written By: - Date published: 10:25 am, September 10th, 2013 - 17 comments
Colin James takes on Key over the asset sales referendum, savaging the economic argument for sales. Then he turns to National’s other big financial markets call – suspending contributions to the Cullen Fund James discovers its cost us a lot of money. What James doesn’t recognise is that asset sales and suspending the Cullen Fund payments were never about what’s best for NZ.
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- How will US foreign policy affect Joe Biden’s chances of re-election in November?Source: The Conversation (Au and NZ) – By Emma Shortis, Adjunct Senior Fellow, School of Global, Urban and Social Studies, RMIT University When big questions about American foreign policy collide with an election, it’s rarely good news for a sitting president. Like many leaders before him, US President Joe ...6 days ago
- Unstable employment while you’re young can set you up for a wage gap later in life – even if you...Source: The Conversation (Au and NZ) – By Irma Mooi-Reci, Professor in Labour Sociology, The University of Melbourne The Conversation/Pexels/Unsplash, CC BY As they kick off their careers, young people often have to navigate a maze of short-term and casual jobs. In Australia, many of them also wish to ...6 days ago
- Lending rule changes a prelude to bigger overhaul of CCCFAThe government has announced tweaks to the much-maligned law, but isn’t scrapping the lending affordability regulations – at least, not yet, writes Catherine McGregor in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. The first stage of ...6 days ago
- Financial mentoring services sound warning over wind-back of lending regulationsThe government is reforming the Credit Contracts and Consumer Finance Act (CCCFA), which it says has created unnecessary compliance costs, and blown out the timeframes for accessing a loan. ...6 days ago
- New Zealand Passport system upgrades lead to longer processing timesThe government target for processing passports is 10 days but the current wait-time guideline is much longer than that. ...6 days ago
- In demand but disempowered: why low-skilled migrant workers face even worse exploitation under NZ’...Source: The Conversation (Au and NZ) – By Francis L Collins, Professor of Sociology, University of Auckland, Waipapa Taumata Rau Arkadiusz Warguła/Getty Images The New Zealand government claims its recently announced changes to visa rules will address exploitation and unsustainable migration. In reality, the new rules are likely to ...6 days ago
- Consultants are just the sound of cans being kicked down potholed roadsOpinion: We do not need to spend resources on identifying our problems because the big ones are already obvious The post Consultants are just the sound of cans being kicked down potholed roads appeared first on Newsroom. ...6 days ago
- At least two businesses invited to apply for fast-track consents have donated to National, says Labo...Labour is warning that allowing just three ministers the last word on fast-tracking infrastructure projects opens them up to accusations of bias, especially when political donations might muddy the waters. ...6 days ago
- There’s no need to make emergency housing harder. It’s hard enough alreadyTrust me, I know: I’ve been living in a damp, violent hotel in central Auckland for six months and counting. I get it, Minister. I really do. You want us out of emergency housing. And believe me, so do we. I have been living in emergency accommodation in a hotel ...6 days ago
- A list of transport projects Wellington could actually deliver in the next 10-15 yearsMetlink is warning Wellington commuters to expect buses to replace trains on weekends for the next 10-15 years. But there are a few things to look forward to while we wait. Thomas Nash is a Greater Wellington Regional Councillor. Ten to fifteen years. Four little words that sparked a mini ...6 days ago
- The revolution will be memoired1967: I hadn’t heard from my family in Rotorua for months and months, not a letter or a phone call, nothing. One weekend I decided to go back on the Herald bus, along with bundles of newspapers tied up with rough twine that were stacked in the side compartments and ...6 days ago
- Maths education more than just test scoresOpinion: There has been a lot of talk of late about maths education due to New Zealand’s poor results in international testing. We can certainly improve maths learning experiences in our classrooms, and outcomes. However, I’m concerned that the desire to get better test results might lead to undesirable curriculum ...6 days ago
- Breaking barriers on sexual assault figuresAlison Mau had two choices when she was laid off from Stuff – carry on in journalism but not her specialist #MeToo reporting or quit the industry and try to make a meaningful difference in that area. She chose the latter and teamed up with another high-profile campaigner, barrister Zoe ...6 days ago
- Where is she now? Sonia WaddellIn a full circle moment, Olympic rower Sonia Waddell is back entrenched in the sport of athletics – the first of three codes in which she’s worn the silver fern. “Athletics will always be my passion, even though I ended up rowing at the Olympics,” laughs Waddell, at home ...6 days ago
- Taiwan wants NZ support to counter ‘expanding authoritarianism’Taiwan’s foreign minister says the territory can also expand ties with New Zealand in areas less likely to attract Chinese ire The post Taiwan wants NZ support to counter ‘expanding authoritarianism’ appeared first on Newsroom. ...6 days ago
- Markets at a tipping point as outlook darkensBusiness and investing: Half a year of stock market gains seem to be over as uncertainty starts to grow The post Markets at a tipping point as outlook darkens appeared first on Newsroom. ...6 days ago
- Iwi, business lay down the wero for climate ministerTangata whenua has laid down the wero for the climate minister, while business is urging the Government to go faster and further The post Iwi, business lay down the wero for climate minister appeared first on Newsroom. ...6 days ago
- How NZ can truly be independent in foreign policyComment: This country talks up its independent foreign policy but in reality it is not much more than an aspiration, still wedded to western worldviews The post How NZ can truly be independent in foreign policy appeared first on Newsroom. ...6 days ago
- View from The Hill: Albanese to walk Kokoda track and engage in some jungle diplomacySource: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Anthony Albanese will trek the Kokoda track on Tuesday and Wednesday before attending the Anzac Day dawn service at the Isurava Memorial site that commemorates one of the toughest battles the Australians fought in the ...6 days ago
- Australian author leads silent protest over ‘blood debt’ owed to PapuansAsia Pacific Report An Australian author and advocate, Jim Aubrey, today led a national symbolic one minute’s silence to mark the “blood debt” owed to Papuan allies during the Second World War indigenous resistance against the invading Japanese forces. “A promise to most people is a promise,” Aubrey said in ...6 days ago
- EDS Highlights Reputational Risks Of Fast-track Inclusion“Make no mistake: this proposed legislation, with its Ministerial overreach and capacity for environmental harm, is extremely radical and controversial,” said EDS CEO Gary Taylor. ...6 days ago
- Government agrees to raise concerns about forcible deportation of Afghans with PakistanThe government has promised to raise concerns about the forcible deportation of Afghans with Pakistan. ...6 days ago
- Australia’s social cohesion under strain, challenges and solutionsPacific Media Watch Australians are being urged to stay united following the horrific events in Sydney last week, reports the ABC’s Saturday Extra programme. Five women and one man were killed in a mass stabbing at Bondi Junction last Saturday by a man with a history of mental illness, and ...6 days ago
- Government announces lending changesThe government has announced it will reform financial services in a bid to make it easier to get home loans and other lending, and strengthen customer protections. ...7 days ago
- Who helps with the 'huge emotional toll' of being an MP?The House - MPs have some of the highest pressure jobs in New Zealand, and the stressors aren't always what you might think. ...7 days ago
- How to read a poem: All day on Ma’uke by Rob HackThe latest in a semi-regular series that breaks down a poem to analyse what it’s really trying to tell us. In this edition of How to Read a Poem, Vaughan Rapatahana reads All day on Ma’uke by Rob Hack, published in a new anthology called Katūīvei: Contemporary Pasifika poetry from ...7 days ago
- Hear me out: It’s embarrassing that Wellington doesn’t have an ice rink Wellington’s lack of ice rinks undermines our credibility as a ‘capital’, much less a ‘city’, writes ice enthusiast Fox Meyer. When I moved to Aotearoa to study, I had several universities to choose from. I ignored all their academic merit and simply googled “best ice rink in New Zealand”. Google ...7 days ago
- Prime Minister Christopher Luxon returning from Southeast Asian tripPolitical issues such as the war in the Middle East had not overshadowed Southeast Asian mission, Christopher Luxon says. ...7 days ago
- Luxon pushes at an open door in Southeast AsiaAnalysis: Christopher Luxon’s first trip outside Australasia should be seen as a success. But the real test is whether he can translate his new friendships into a cohesive strategy for Asia, backed by the resources to see it through. During the Prime Minister’s five days travelling through Singapore, Bangkok and ...7 days ago
- Time to give your heart (and wallet) an oil changeOpinion: Extreme weather events in Europe, where most of our olive oil is imported from, have led to reduced olive harvests and higher prices for olive oil on our supermarket shelves. In March it was estimated to be the highest global price in 26 years. Only about 10 percent of ...7 days ago
- An Ode to .. Simeon BrownSimeon’s Hole The Profit Simeon walked upon The Concrete Overpasses of the Holey Land. “Cancel everything,” he told his followers. “Including the ferries …?” “Cancel.” “Auckland light rail … ?” “Cancel.” “The Mt Victoria double tunnels of prophecy …?” “Cancel.” His followers wondered aloud at this zealous fervour. But the ...7 days ago
- Lest we forget? The shame of our two-tier veteran’s systemOur laws are leaving many veterans who served after 1974 out in the cold. I know, because I’m one of them. The Sunday Essay is made possible thanks to the support of Creative New Zealand. As I write this story, I am in constant pain. My hands shake with adrenaline, and the ...7 days ago
- Five reasons why you should watch new reality series My Mum, Your Dad NZThree’s new dating show breaks all the reality rules, writes Tara Ward. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. If you think dating shows are only for the young, think again. From The Bachelor, to Too Hot to Handle, to Love Is Blind, there’s ...7 days ago
- Firms invited to apply for fast-track consents include 'environmental destroyers' – ...Environmentalists have slammed a list of organisations who have been invited to apply to the Government's proposed fast-track approvals scheme. ...1 week ago
- Solomon Islands political chess begins with Manasseh Sogavare re-elected in East ChoiseulBy Koroi Hawkins, RNZ Pacific editor in Honiara Solomon Islands’ incumbent prime minister Manasseh Sogavare has been re-elected in the East Choiseul constituency. It is the opening move in the political chess match to form the country’s next government. Returning officer Christopher Makoni made the declaration late last night after ...1 week ago
- The moment of friction.Headline: The moment of friction. – 36th Parallel Assessments In strategic studies “friction” is a term that it is used to describe the moment when military action encounters adversary resistance. “Friction” is one of four (along with an unofficial fifth) “F’s” in military strategy, which includes force (kinetic mass), ...1 week ago
- Fast-track Bill A Fraud Being Perpetrated On All Future GenerationsThe Fast-track Bill, if passed, would allow three Ministers, unchallenged and unchecked, to approve the immediate extraction and exhaustion of one-off resources. ...1 week ago
- Focus on Politics: Luxon boosts defence amid rising global tensionsAs global tensions escalated this week, Prime Minister Christopher Luxon was touring Southeast Asia, strengthening defence and security ties. ...1 week ago
- Why the pathology bulk-billing campaign is more about driving industry profits than saving you moneySource: The Conversation (Au and NZ) – By Stephen Duckett, Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne iamharin/Shutterstock For many people, the term “bulk billed” refers to a GP visit they don’t have to pay ...1 week ago
- All about Emma: Three writers talk about the name they share in commonEmmas Hislop, Sidnam and Wehipeihana discuss what’s in a name. Emma Sidnam: Hello Emmas! Thank you so much for agreeing to do this with me. My first question for you is related to what’s been on my mind for a while. It’s very important. You see we’ve recently had some ...1 week ago
- Restoring coastal habitat boosts wildlife numbers by 61% – but puzzling failures mean we can still...Source: The Conversation (Au and NZ) – By Michael Sievers, Research Fellow, Global Wetlands Project, Australia Rivers Institute, Griffith University Chris Brown Humans love the coast. But we love it to death, so much so we’ve destroyed valuable coastal habitat – in the case of some types of habitat, ...1 week ago
- Public sector job cuts: Affected staff criticise leaders' handling of announcementsStaff are shell shocked and frustrated, and say leaders handled the announcements poorly. ...1 week ago
- ‘The room went dead quiet’: Josh Thomson on his worst 7 Days momentJosh Thomson on the 80s milk ad jingle he can’t stop singing, the beauty of The Simpsons, why Jersey Shore is as good as Shakespeare and more. For someone who spends a lot of time on our screens, popping up in everything from 7 Days to Taskmaster, Educators to Good ...1 week ago
- Shadow-boxing turns real for Israel and IranIn apparent defiance of the Biden administration, the Netanyahu government has now initiated missile strikes against Iran. Last Saturday night (Sunday morning in New Zealand) Iran launched more than 300 drones, cruise missiles and ballistic missiles against Israeli military targets. With the assistance of US, UK and possibly French forces, ...1 week ago
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