Caveat emptor 2

Written By: - Date published: 6:46 am, April 15th, 2013 - 104 comments
Categories: energy, labour, privatisation - Tags:

Labour’s put out a release saying power prices are too high and “signalling that the future Labour Government will make changes to the sector so that New Zealanders considering purchasing shares in Mighty River Power, which go on sale tomorrow, are aware of that before investing”. In other words, ‘we’re gonna cut power prices, and the electricity companies’ profits will be hit’.

You read it here (and here and here), first. I wouldn’t be surprised if New Zealand First and the Greens have policies coming too.

It’ll be interesting to see what reforms the opposition parties put up, because the status quo clearly isn’t working.

The politics of this is smart. It moves the asset sales argument on to new ground, rather than the Left trying to deny something that is going to happen, they’re shifting to an ‘us and them’ struggle, with National on the side of the small elite and foreign investors while the Left’s on the side of households facing rising power bills and people who can’t afford to or don’t want to buy shares.

National will be standing for higher power prices to pay dividends to overseas owners of our power companies; the Left will be standing for fairly priced power for families and fewer dividends flowing out of the country.

I wouldn’t be betting my money on power company profits against that political backdrop.

104 comments on “Caveat emptor 2 ”

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  1. geoff 1
    15 April 2013 at 7:11 am

    Finally! Keep going Labour, the more you rip into how unfair NZ has become the more you’ll see your vote go up.

  2. tc 2
    15 April 2013 at 7:24 am

    smart politics, now don’t get drawn into any details just keep the focus on the brokers fees/sale costs, dodgy doug’s extra 500k and all the fat cats 73% pay rise, price gouging, browncoals ‘reforms’, dysfunctional behaviour between transpower/generators/lines companies etc etc

    When prompted about what Labour didn’t do remind everyone this Clusterf&^K of a power beauracrcay was the Nat’s doing.

  3. infused 3
    15 April 2013 at 7:28 am

    Yeah right they will. They had 9 years to do so and milked them hard. I bet you will find this will backfire.

    • felix 3.1
      15 April 2013 at 7:38 am

      Yeah. But milking them to pay for schools and hospitals isn’t really comparable to milking them to put more money in the pockets of the richest people in the country.

      Also, this Clusterfuck of a power bureaucracy was the Nats’ doing.

      • infused 3.1.1
        15 April 2013 at 8:11 am

        You got proof that’s where it went? It’s easy to say that.

        Power prices are fucked here, but I don’t think Labour has much credibility on this issue. Just look on stats nz how much it rose under Labour.

        • One Anonymous Knucklehead 3.1.1.1
          15 April 2013 at 8:21 am

          Memo to Infused, but but but Laaaaabbboooouuuurrrr….

          …intend to do something about it when next in government. That’s why the press release talks about “the future Labour government.”

          Do you see the difference or do I need to draw you a picture?

          • infused 3.1.1.1.1
            15 April 2013 at 8:31 am

            Did you not read what I wrote? Or do I need to draw you a picture?

            • One Anonymous Knucklehead 3.1.1.1.1.1
              15 April 2013 at 8:38 am

              Yes, you made a stupid remark about something that happened in the past when this is about something that is going to happen in the future. You do understand the difference between the past and the future, don’t you?

              Pretty simple concept. When Labour regains the Treasury benches it will make changes to the sector so as to reduce prices. Not, “we will go back in a time machine and fix everything Infused thinks Helen Clark did wrong.” That would be pandering to the whims of a whining fool (and breaking some Physical laws), rather than fixing the mess the National Party has made of the electricity sector.

              • infused …
                15 April 2013 at 8:58 am

                You are still completely missing the point.

                Power prices rose under Labour for 9 years. The now lack the credibility to say they will drop the prices.

                I’m pretty sure Labour are doing this on purpose to be eaten at question time.

                “we will go back in a time machine and fix everything Infused thinks Helen Clark did wrong.”

                Where did I even say that? Obviously you think she did a lot wrong.

                • One Anonymous Knucklehead …
                  15 April 2013 at 9:03 am

                  You are still completely whining “but but but but Llllaaaabbbboooouuurrr!”

                  I hope they nationalise electricity generation, and provide it as a public good to citizens and industries (and yes, even financial service leeches).

                  • infused …
                    15 April 2013 at 9:09 am

                    I’m not whining about Labour at all.

                    I’m saying the lack credibility on the issue. Maybe it’s too early for you.

                    • Pascal's bookie …
                      15 April 2013 at 9:12 am

                      Do you have polling data on that?

                    • One Anonymous Knucklehead …
                      15 April 2013 at 9:18 am

                      Oh noes, someone who will never vote Labour says they believe Labour “lacks credibility”.

                      What’s interesting is your notion that this is somehow relevant to the discussion.

                    • infused …
                      15 April 2013 at 9:32 am

                      Knucklehead really suits your nick. Lets see what happens this week then eh.

                    • One Anonymous Knucklehead …
                      15 April 2013 at 9:37 am

                      Thanks sweety. Then let’s see what happens in the 2014 election.

                  • Tiresias …
                    15 April 2013 at 2:24 pm

                    I agree with Infused on this.

                    Labour have had how long to prepare a response to the Nat’s power company sales? Yet all they can come up with is a vague statement about “making changes to the sector”. Not a promise, mark you – tho’ even they from a politician’s mouth are not worth the hot air. Not even any indication of what the underlying policy settings which those ‘changes to the sector’ might reflect will be. Shearer’s statement was the absolute minimum he could say without being totally irrelevant to the issue (sic).

                    Labour has no credibility on this, to my mind, and the fact that I’m considerably reducing the amount I was considering ‘speculating’ on the MRP float has more to do with the commercial realities facing the power companies that with any fear that a future Labour Government would seriously rock the boat for investors.

      • Colonial Viper 3.1.2
        15 April 2013 at 8:22 am

        Using high SOE power prices to pay for schools and hospitals is like using higher GST on food to pay for them. Highly regressive.

        • Murray Olsen 3.1.2.1
          15 April 2013 at 3:24 pm

          I think it would be more accurate to compare using higher power prices to pay for schools and hospitals to raising GST on fresh fruit and vegetables to pay for them. A policy which encourages cold and damp houses is as bad as one which encourages the eating of processed foods.

    • millsy 3.2
      15 April 2013 at 11:20 pm

      National also had 9 years to get rid of the DPB. Your point is??

  4. Dv 4
    15 April 2013 at 8:03 am

    How good is the board governance?

    Bothe the chair and the deputy chair have form in companies that have gone belly up

    Trevor Jane the deputy chair was a director Of former Capital & Merchant Finance which failed.
    He was exempted from prosecution for signing the 2005/6 investment statements, when others were prosecuted.
    The exemptions has never been explained.

    Joan Withers the Chair was a director of feltex that went belly up in 2004

    Citing a 2007 Securities Commission report, the liquidator says Feltex was in breach of NZX continuous disclosure rules from August 23, 2005 till June 30, 2006 for failing to reveal banking covenant breaches, new ANZ loan terms, a forecast earnings deterioration and planned restructuring costs.
    http://www.stuff.co.nz/business/industries/2728618/Feltex-inactions-ensured-worse-deal
    HT Chris Lee

  5. One Anonymous Knucklehead 5
    15 April 2013 at 8:09 am

    I note Fairfax and Granny’s failure to report this announcement.

  6. Gosman 6
    15 April 2013 at 8:13 am

    Excellent. So this suggests that Labour won’t be buying back the shares then.

    • One Anonymous Knucklehead 6.1
      15 April 2013 at 8:18 am

      Nope, it suggests that “the future Labour Government will make changes to the sector”.

      Undefined changes, Gosman: it’s a great move, and should completely undermine investor confidence. They’re not ruling anything out. I propose they simply return the stolen property to its rightful owners, and the receivers of said stolen property feel lucky not to be prosecuted.

      • Gosman 6.1.1
        15 April 2013 at 8:28 am

        Well if they repurchase the shares and then legislate to lower prices they will be reducing their own revenue stream which is also idiotic. The right are going to have fun with this one.

        Why can’t Labour share what they are planning by the way? Surely they don’t need to work out the exact details to give a hint at the approach they will take.

        • One Anonymous Knucklehead 6.1.1.1
          15 April 2013 at 8:42 am

          Oh I expect (and hope) that’s a deliberate (and quite elegant) strategy to undermine the National Party’s rotten agenda. Destroy market confidence, that sort of thing.

          I hope it fucks up your greedy plans.

          • Gosman 6.1.1.1.1
            15 April 2013 at 8:49 am

            I doubt it will work. Just makes Labour look like they don’t really know what they are going to do. If Labour was in a better position poll wise it might have an impact but not currently.

            • Pascal's bookie 6.1.1.1.1.1
              15 April 2013 at 8:58 am

              “If Labour was in a better position poll wise it might have an impact but not currently.”

              You mean the big swinging dicks of the market don’t know how MMP works, or how to count to 51?

              Figures.

              • Gosman …
                15 April 2013 at 9:22 am

                Doesn’t matter if they can or can’t. It is all about perception. Currently the perception is Labour is weak and therefore will be in a weak position when it comes to forming the next government. As such any influence it has on the current situation is equally weak.

    • tc 6.2
      15 April 2013 at 8:19 am

      why should they repay the nat’s debt ?

  7. Colonial Viper 7
    15 April 2013 at 8:45 am

    I notice that ‘Yes’ illogical and pointless comments have just disappeared.

  8. Peter 8
    15 April 2013 at 9:01 am

    It’s not much of a caveat emptor and it’s far too late to spike the process or the share price. It’s more of Labour’s usual call – let’s have a REVIEW (or an inquiry, or a commission, or an investigation, or the great bombshell of them all, dropping it off at the Auditor General’s office, … and on it goes). In other others, an excuse to delay making a decision a bit longer.

    Three months ago, yes, now, most people’s response will be, oh yeah, that David Shearer guy, is he still around?

  9. Nick K 9
    15 April 2013 at 9:08 am

    Typical David Shearerpisos – “we’re going to do something, we just don’t know what”.

    And the writer of this post has the gall to label this post Caveat Emptor. What are investors supposed to be aware of? Shearerpisos hasn’t said what it is. What a cock. All he’s trying to do is HOPE people will be put off buying shares because of political posturing. If they do (and that’s a big if), he can say the float is a flop. He’s not interested in regulating electricity – he’s interested in political embarrassment. As I said, what a cock.

    • One Anonymous Knucklehead 9.1
      15 April 2013 at 9:23 am

      Peter and Nick. I’m as quick to criticise Captain Mumblefuck as the next person, but I don’t agree with either of you.

      Labour sends a clear signal that it will act to reduce prices in the electricity market. If you think that doesn’t have an impact on investor behaviour I have a bridge to sell you.

      • Peter 9.1.1
        15 April 2013 at 10:14 am

        I think by my reckoning Labour has made at least three attempts to “intervene” in the electricity psuedo-market to bring prices down. All of its attempts have involved mind-boggling complexity and all have failed.

        Let’s see, we had the Electricity Commission, that became the Electricity Authority. We had the reserve generation scheme at Whirinaki, that had a starting price offer of about $150 a MWh (which also didn’t work – it just got gamed, and now Whirinaki has been sold and put into pieces). We also had the botched pricing on the HVDC, that loaded all the costs of it onto the South Island generators.

        You can’t solve a failure of complexity by whacking on more complexity. The simple solution is the best solution – combine what remains into one nationwide generator, and regulate it properly. But of course, asset sales stop this, and lock in the super-normal profits.

        • One Anonymous Knucklehead 9.1.1.1
          15 April 2013 at 10:22 am

          The simple solution is the best solution. Asset sales don’t prevent it, they just present a hurdle.

          As for your assertion that “changes to the sector” = “whacking on more complexity”, citation needed.

          • Peter 9.1.1.1.1
            15 April 2013 at 10:33 am

            I gave you a paragraph of changes, for you and your fellow “knuckleheads” to research if you choose. All amounted to further complexity on a broken complex system.

            • One Anonymous Knucklehead 9.1.1.1.1.1
              15 April 2013 at 10:58 am

              No. Labour have announced that they will make “changes to the sector”. They have not said what they will do. You’ve made a convincing case that what they have done up ’til now has failed, not that they will do the same thing again.

              I wear my knucklehead status with pride. It was awarded by the Lying Prime Minister.

              • Peter …
                15 April 2013 at 12:48 pm

                Yeah fair enough. What I’m suggesting, based on past history, is that Labour will engage in tinkering of the power market, because Shearer and others on his front bench believe that the market fundamentally works, and just needs another round of rule changes. That’s essentially the policy of the fifth Labour government, and it has not changed.

                Of course, they could do a fundamental reform, but on past performance, such a measure seems unlikely, and it’s also hard to do without crashing the share price. What Key and English have done with the asset sale is to lock in the market model for power. Media reporting on Mighty River performance in the future will be reporting of its share price and annual profit, not the underlying basis of the company, and no one, Shearer included, will want to engage in measures that will tank the share price for all those Mum and Dad investors who will put their money into the asset floats.

                So the reforms we need – which include dispensing with the false competition of the NZ Electricity Market, and a return to long-term strong regulation and planning, are not within Labour’s power to implement.

                • Draco T Bastard …
                  15 April 2013 at 1:50 pm

                  So the reforms we need – which include dispensing with the false competition of the NZ Electricity Market, and a return to long-term strong regulation and planning, are not within Labour’s power to implement.

                  It’s within their power – it’s more a question of it being within their world view. I really don’t think it is.

              • Draco T Bastard …
                15 April 2013 at 1:48 pm

                You’ve made a convincing case that what they have done up ’til now has failed, not that they will do the same thing again.

                But we haven’t seen anything from Labour that they’re going to try anything different from the high complexity faux free-market model that’s already in place.

                • Colonial Viper …
                  15 April 2013 at 1:56 pm

                  Exactly.

                  I’m confused as to what in the last 12 months has convinced people that Labour is suddenly going to not just accept a much lower dividend from the SOEs, but that it is willing to actively do what is needed a) to drive that Treasury revenue downwards and b) replace that lost revenue from other sources like taxation.

                  • McFlock …
                    15 April 2013 at 5:36 pm

                    The Greens on 12-15%.
                    Plus Mana.

                    • Colonial Viper …
                      15 April 2013 at 5:42 pm

                      So tease that out for me McFlock. Who inside that coalition will push for lower dividends from SOEs, and replacing lost Crown revenue through higher taxes?

                    • McFlock …
                      15 April 2013 at 5:57 pm

                      Not sure about specific individuals in labour caucus, although I’d expect there to be a few – Eddie’s three-way model seems close enough for shits and giggles. But my guess is that mana would be pushing for higher top-level taxes with the probable involvement of the greens, too, while also going for lower power prices (although the greens might have a conflict between social justice of low power prices and the carbon/energy use thing, especially regarding huntly). And the Maori Party might also be interested in lowering power prices (unless Iwi corps invest heavily in the asset sales).

                      I think the remainder of labour (beyond whichever individuals want to really kick the sector and boost taxes) would prefer to do the clark incremental changes rather than a full revolutionary change, but could be kicked further left by a block of about 20% or more of mps.

                      That’s assuming that the most (as a relative measure) right-wing 2/3 of current caucus aren’t possessed by the ghosts of the first labour government and suddenly sing the Internationale at the start of each Labour caucus meeting, of course.

                    • Colonial Viper …
                      15 April 2013 at 6:04 pm

                      I’m not aware that Labour has ever stated that they are open to including Mana MPs in a government coalition.

                    • McFlock …
                      15 April 2013 at 6:11 pm

                      aye.
                      And Labour might not even go for a formal coalition with a single MP.

                      But it’s amazing the results a single MP can get if the government wants/needs an extra vote. Hypothetical examples might be charter schools or a hair product allowance.

      • Colonial Viper 9.1.2
        15 April 2013 at 1:24 pm

        Labour sends a clear signal that it will act to reduce prices in the electricity market.

        it’s never managed it before.

        Note, in Government, Labour has always wanted to extract maximum revenues for Treasury from SOEs, whether they be TVNZ or Genesis.

    • karol 9.2
      15 April 2013 at 9:26 am

      I tuned into Morning Report to hear a financial advisor and writer Martin Hawes being interviewed on the Labour announcement.

      http://podcast.radionz.co.nz/mnr/mnr-20130415-0808-financial_advisor_feeling_cautious_about_mighty_river_shares-048.mp3

      He was a bit puzzled by what Labour would actually do. However, he has looked at the information about Mighty River Power and decided he doesnt think it’s worth investing in, for himself or “mum and dad” investors. Labour’s announcement seems a bit waffley, but it has contributed to a bit of a shift in the narrative.

      And just up, Hawes explains, in a Dom Post article, why he is cautious about MRP shares.

      • Gosman 9.2.1
        15 April 2013 at 9:39 am

        Wow! One financial advisors decides he won’t buy. Guess the whole sale process is stuffed now.

        Weirdly his reasoning would have greater influence on the sale than Labour’s recent announcement. That just serves to illustrate the impotence of the Labour party at the moment.

      • QoT 9.2.2
        15 April 2013 at 6:36 pm

        Yeah, I could’ve done with a bit more detail, to be honest, but obviously they had to time this right or it would’ve been a completely empty gesture.

        Fingers crossed that this time the “we’ll have full details shortly” tactic delivers.

    • Tim 9.3
      15 April 2013 at 4:00 pm

      Shearerpisos – :p Love it!

  10. tarkwin 10
    15 April 2013 at 9:18 am

    It’s easy to make promises you haven’t a hope of delivering on.

    • One Anonymous Knucklehead 10.1
      15 April 2013 at 9:24 am

      It’s easy to pretend you know what the 2014 election result will be when you haven’t got anything substantive to say.

  11. Lionel 11
    15 April 2013 at 9:23 am

    sadly Labour has missed the boat they should,ve addressed this issue when in government

  12. felix 12
    15 April 2013 at 9:30 am

    About time.

    Anyone want to explain why Labour didn’t announce this until yesterday?

    The first anyone heard of it (anyone who doesn’t read Labour’s press releases) was at 7:22 this morning on radio nz, a whole 38 minutes before the shares went on sale.

    • ghostrider888 12.1
      15 April 2013 at 9:40 am

      Key : cause the nats felt the imperative to get key on tele this am to un-lock LABOUR’s announcment at the crack-of-dawn.

      actually, topically, radio-active 🙂

    • QoT 12.2
      15 April 2013 at 6:37 pm

      Damn. There goes my positive comment about the timing, above. Should’ve stuck with the good ol’ cynicism.

  13. Poission 13
    15 April 2013 at 9:55 am

    the risk apportioned to natural oligopolies is that they use spurious revaluations of assets ( ie book values) to validate price increases eg ROI.

    As it is actually not a return on investment,but an imaginary number the enhanced value should be taxable.If a tax or capital gain mechanism was in place the assets would move back across on the balance sheets at the speed of light. removing the inconsistency ie revaluation and depreciation.

  14. cricklewood 14
    15 April 2013 at 10:13 am

    The silver lining to the sales if you will, Labour or any other govt will be less inclined to push the power companies for higher dividends (which resulted in the power companies lifting prices)to top up the coffers.The whole thing is/was a form of regressive tax where the money was collected by stealth penalising those who could afford it the least.

    Now there is less of a dividend for the Govt to collect, heavily regulating prices down becomes a much more palatable option and will be of great benifit to those who struggle to pay large monthly bills. Hell you could even lift PAYE rates to compensate at the upper end.

    Be good policy and the less taxation by stealth the better….

    • Colonial Viper 14.1
      15 April 2013 at 1:29 pm

      Optimistic, but nah. Institutional buyers may have been assured by the govt that the Crown would take no action to reduce power prices and margins after the sale.

      And trust me, the institutional buyers will have got that in writing. Have you heard of any “Kiwi Share” Telecom style price controls as part of this deal? Nope? Basically, the country’s fucked.

      • cricklewood 14.1.1
        15 April 2013 at 3:20 pm

        Could an option be then that if there is still a company wholly owned by the GOVT remaining that it simply for go or reduce it’s requirement for a dividend? It’s not regulating prices but it would distort the ‘market’ if one company is suddenly not required to make a profit.

  15. ghostrider888 15
    15 April 2013 at 10:17 am

    Double Entry Book Thinking

  16. Wayne (a different one) 16
    15 April 2013 at 12:38 pm

    “Caveat Emptor 2” or Economic Sabotage on the part of Labour?

    Brilliant economic thinking by “sheep” – so if I was ever to attain the leadership of the country (big if), I’m going to destroy the ability of the government to reap any returns from a partly pivatised SOE.

    Great stuff Labour, your economic nouse beggars belief.

    • Lightly 16.1
      15 April 2013 at 1:12 pm

      would you prefer that they hadn’t warned investors about the changes that they will be making? How’s that fair?

      • Colonial Viper 16.1.1
        15 April 2013 at 1:19 pm

        Wayne means that Labour is sabotaging the Elite’s plans for sabotaging our country’s infrastructure and heritage. Boohoo Wayne.

        • Nick K 16.1.1.1
          15 April 2013 at 1:22 pm

          How so? He hasn’t announced anything. Typical Shearerpisos – “we’re gonna do something, but we’re too think to figure out what”.

          By the way: I’m still buying. As is my wife and daughter. If an incoming Labour government screws it for us, c’est la vie. I expect to be screwed by Labour anyway. A few shares in MRP won’t bother me.

          • Colonial Viper 16.1.1.1.1
            15 April 2013 at 1:33 pm

            Don’t worry, Labour will tend to your needs as a comfortable middle class voter

          • felix 16.1.1.1.2
            15 April 2013 at 1:57 pm

            Good for you, Nick.

            So are you buying shares purely as a matter of principle then?

            Also, how did you get away with marrying your daughter?

            • Nick K 16.1.1.1.2.1
              15 April 2013 at 2:10 pm

              Aye? My daughter has an IRD number so she’s registered, despite still being at school.

              I am buying shares because a solid infrastructure stock like this is a good investment. I am not worried about those cretins from NZ First saying they will buy them back because they are all bullshit and bluster.

              Cunliffe taxing revenue is more worrying.

              • felix …
                15 April 2013 at 2:27 pm

                Jesus man, what did the school have to say about you marrying your child-bride?

                And yes, a good investment. A good investment in principle which you expect Labour to screw you on in fact.

            • mac1 16.1.1.1.2.2
              15 April 2013 at 3:14 pm

              Felix, I am in agreement with your discernment of the lack of agreement. If you be curious about “how did you get away with marrying your daughter?”

              http://www.youtube.com/watch?v=eYlJH81dSiw

              The above may elucidate. “I’m my Own Grandpa.”

    • Draco T Bastard 16.2
      15 April 2013 at 1:53 pm

      You do realise that the profit model is what’s causing the social problems that we’re seeing don’t you?

  17. Ad 17
    15 April 2013 at 3:12 pm

    Labour has made it hard to know what to “caveat emptor” about. They haven’t released any policy, all they’ve done is destabilise things further.

    This is great for the political game of driving the opening price down, as it spikes the Government’s budget targets.

    But many rational and patriotic Kiwis will be damned if they are going to let this country fall to foreigners and who will open their chequebooks to make that happen within their power. There is more to self interest in life, for some.

    Labour’s intervention to simply unsettle the market beyond 2014 closes more of those chequebooks, so the foreign institutions will step in instead. So the net result from today is Labour has done good beltway politics, great for diehards who will do anything to destabilise the sale process, bad for the all-important task of keeping that share register in the hands of New Zealanders.

  18. ghostrider888 18
    15 April 2013 at 3:31 pm

    another Three Shades of Red Lanterns
    http://www.bloomberg.com/markets/stocks/world-indexes/

  20. Private Baldrick 20
    15 April 2013 at 3:39 pm

    Can you pay for shares with turnips ?

    • Arfamo 20.1
      15 April 2013 at 5:49 pm

      No, but they may ask if you’d accept dividends in turnips if they start to tank.

  21. tsmithfield 21
    15 April 2013 at 4:58 pm

    What “sheep” doesn’t seem to realise in this “brilliant” strategy is that many Labour voters who have battled away to save a few dollars over their lives and buy shares in SOEs might well be affected if “sheep” ever gets the chance, and is stupid enough to try and impliment such any such policies if he is able to dream some up that don’t simultaneously undermine his revenue stream for budgets.

    This sounds like a mindless announcement made with very little thought to the unintended consequences which will be considerable.

    • One Anonymous Knucklehead 21.1
      15 April 2013 at 5:01 pm

      In other news, wingnut disagrees with political opponent.

    • felix 21.2
      15 April 2013 at 5:24 pm

      “What “sheep” doesn’t seem to realise in this “brilliant” strategy is that many Labour voters who have battled away to save a few dollars over their lives and buy shares in SOEs might well be affected”

      Good lord you’re right. Labour should probably make some sort of announcement to warn them. 🙄

      • Colonial Viper 21.2.1
        15 April 2013 at 5:45 pm

        if TS thinks that people should put their few dollars of hard earned lifetime savings on the sharemarket, it’s probably best not to listen to his advice. On anything.

    • millsy 21.3
      15 April 2013 at 11:22 pm

      Nothing to stop people from investing in other companies. Fletcher Building looks like a good idea, with the CHC rebuild set to take off…

  22. tsmithfield 22
    15 April 2013 at 5:55 pm

    National have stated they plan to use the proceeds of the sales for improving social assets such as schools, hospitals etc. So, it seems to me that “sheep” is indirectly attempting to undermine the social infrastructure of the country. Nice work from a Labour leader. This guy really is a mumblefuck. Honestly.

    • felix 22.1
      15 April 2013 at 6:05 pm

      Goodness. I wonder where we ever got the revenue to pay for schools and hospitals before the geniuses in National decided to sell our revenue generating assets. 🙄

      • McFlock 22.1.1
        15 April 2013 at 6:19 pm

        obviously we couldn’t, because public debt has skyrocketed ever since Lab1.
        In the Toriverse, anyway.

    • Daveosaurus 22.2
      15 April 2013 at 6:31 pm

      National also stated that they wouldn’t raise GST, and that they wouldn’t borrow to spend on tax cuts for the wealthy. They lied twice: why are you sure they aren’t lying a third time?

  23. Rodel 23
    15 April 2013 at 9:08 pm

    Is the Labour worm turning?
    Interest me more and I might vote for you. Gee I might even deliver some pamphlets

    • Colonial Viper 23.1
      15 April 2013 at 11:38 pm

      No rush it’s not Friday night yet, don’t get desperate just because the phone rings once

  24. millsy 24
    15 April 2013 at 11:23 pm

    Not getting too excited about what these changes are till I them.

    Put up or shut up, Shearer.

    The magic sentence.

    • Mary 24.1
      15 April 2013 at 11:30 pm

      That’s right, and given Labour’s tendency not to deliver on anything it’s promised while in opposition since the 1991 benefit cuts I’d bet my house that they won’t deliver on this one, either. The right must be laughing right now at Shearer’s empty threat. They know Labour would be selling off all they possibly could if they were in government, probably more than what Key et al have planned.

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    New Zealand is again having to reconcile conflicting pressures from its military and its trade interests. Should we join Pillar Two of AUKUS and risk compromising our markets in China? For a century after New Zealand was founded in 1840, its external security arrangements and external economics arrangements were aligned. ...
    PunditBy Brian Easton
    17 hours ago
  • Weekly Climate Wrap: The unravelling of the offsets

    The ‘50 Shades of Green’ farmers’ protest in 2019 was heavy on climate change denial, but five years on, scepticism and criticism about the idea that pine forests can save us is growing across the board. File photo: Lynn GrievesonTL;DR: Here’s the top six news items of note in climate ...
    The KakaBy Bernard Hickey
    22 hours ago
  • What makes us tick

    This morning the sky was bright.The birds, in their usual joyous bliss. Nature doesn’t seem to feel the heat of what might angst humans.Their calls are clear and beautiful.Just some random thoughts:MāoriPaul Goldsmith has announced his government will roll back the judiciary’s rulings on Māori Customary Marine Title, which recognises ...
    Mountain TuiBy Mountain Tui
    23 hours ago
  • Foreshore and seabed 2.0

    In 2003, the Court of Appeal delivered its decision in Ngati Apa v Attorney-General, ruling that Māori customary title over the foreshore and seabed had not been universally extinguished, and that the Māori Land Court could determine claims and confirm title if the facts supported it. This kicked off the ...
    No Right TurnBy Idiot/Savant
    1 day ago
  • Gordon Campbell on the Royal Commission report into abuse in care

    Earlier this week at Parliament, Labour leader Chris Hipkins was applauded for saying that the response to the final report of the Royal Commission of Inquiry into Abuse in Care had to be “bigger than politics.” True, but the fine words, apologies and “we hear you” messages will soon ring ...
    WerewolfBy lyndon
    1 day ago
  • The Kākā’s Pick 'n' Mix for Friday, July 26

    TL;DR: In news breaking this morning:The Ministry of Education is cutting $2 billion from its school building programme so the National-ACT-NZ First Coalition Government has enough money to deliver tax cuts; The Government has quietly lowered its child poverty reduction targets to make them easier to achieve;Te Whatu Ora-Health NZ’s ...
    The KakaBy Bernard Hickey
    1 day ago
  • Weekly Roundup 26-July-2024

    Kia ora. These are some stories that caught our eye this week – as always, feel free to share yours in the comments. Our header image this week (via Eke Panuku) shows the planned upgrade for the Karanga Plaza Tidal Swimming Steps. The week in Greater Auckland On ...
    Greater AucklandBy Greater Auckland
    1 day ago
  • God what a relief

    1. What's not to love about the way the Harris campaign is turning things around?a. Nothingb. Love all of itc. God what a reliefd. Not that it will be by any means easye. All of the above 2. Documents released by the Ministry of Health show Associate Health Minister Casey ...
    More Than A FeildingBy David Slack
    1 day ago
  • Trust In Me

    Trust in me in all you doHave the faith I have in youLove will see us through, if only you trust in meWhy don't you, you trust me?In a week that saw the release of the 3,000 page Abuse in Care report Christopher Luxon was being asked about Boot Camps. ...
    Nick’s KōreroBy Nick Rockel
    1 day ago
  • The Hoon around the week to July 26

    TL;DR: The podcast above of the weekly ‘hoon’ webinar for paying subscribers last night features co-hosts and talking about the Royal Commission Inquiry into Abuse in Care report released this week, and with:The Kākā’s climate correspondent on a UN push to not recognise carbon offset markets and ...
    The KakaBy Bernard Hickey
    1 day ago
  • The Kākā’s Journal of Record for Friday, July 26

    TL;DR: As of 6:00 am on Friday, July 26, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:Transport: Simeon Brown announced $802.9 million in funding for 18 new trains on the Wairarapa and Manawatū rail lines, which ...
    The KakaBy Bernard Hickey
    1 day ago
  • Radical law changes needed to build road

    The northern expressway extension from Warkworth to Whangarei is likely to require radical changes to legislation if it is going to be built within the foreseeable future. The Government’s powers to purchase land, the planning process and current restrictions on road tolling are all going to need to be changed ...
    PolitikBy Richard Harman
    1 day ago
  • Skeptical Science New Research for Week #30 2024

    Open access notables Could an extremely cold central European winter such as 1963 happen again despite climate change?, Sippel et al., Weather and Climate Dynamics: Here, we first show based on multiple attribution methods that a winter of similar circulation conditions to 1963 would still lead to an extreme seasonal ...
    Skeptical Science
    2 days ago
  • First they came for the Māori

    Text within this block will maintain its original spacing when publishedFirst they came for the doctors But I was confused by the numbers and costs So I didn't speak up Then they came for our police and nurses And I didn't think we could afford those costs anyway So I ...
    Mountain TuiBy Mountain Tui
    2 days ago
  • Join us for the weekly Hoon on YouTube Live

    Photo by Joshua J. Cotten on UnsplashWe’re back again after our mid-winter break. We’re still with the ‘new’ day of the week (Thursday rather than Friday) when we have our ‘hoon’ webinar with paying subscribers to The Kākā for an hour at 5 pm.Jump on this link on YouTube Livestream ...
    The KakaBy Bernard Hickey
    2 days ago
  • Will the real PM Luxon please stand up?

    Notes: This is a free article. Abuse in Care themes are mentioned. Video is at the bottom.BackgroundYesterday’s report into Abuse in Care revealed that at least 1 in 3 of all who went through state and faith based care were abused - often horrifically. At least, because not all survivors ...
    Mountain TuiBy Mountain Tui
    2 days ago
  • Will debt reduction trump abuse in care redress?

    Luxon speaks in Parliament yesterday about the Abuse in Care report. Photo: Hagen Hopkins/Getty ImagesTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy today are:PM Christopher Luxon said yesterday in tabling the Abuse in Care report in Parliament he wanted to ‘do the ...
    The KakaBy Bernard Hickey
    2 days ago
  • Olywhites and Time Bandits

    About a decade ago I worked with a bloke called Steve. He was the grizzled veteran coder, a few years older than me, who knew where the bodies were buried - code wise. Despite his best efforts to be approachable and friendly he could be kind of gruff, through to ...
    Nick’s KōreroBy Nick Rockel
    2 days ago
  • Why were the 1930s so hot in North America?

    This is a re-post from Yale Climate Connections by Jeff Masters and Bob Henson Those who’ve trawled social media during heat waves have likely encountered a tidbit frequently used to brush aside human-caused climate change: Many U.S. states and cities had their single hottest temperature on record during the 1930s, setting incredible heat marks ...
    Skeptical Science
    2 days ago
  • Throwback Thursday – Thinking about Expressways

    Some of the recent announcements from the government have reminded us of posts we’ve written in the past. Here’s one from early 2020. There were plenty of reactions to the government’s infrastructure announcement a few weeks ago which saw them fund a bunch of big roading projects. One of ...
    Greater AucklandBy Greater Auckland
    2 days ago
  • The Kākā’s Pick 'n' Mix for Thursday, July 25

    TL;DR: My pick of the top six links elsewhere around housing, climate and poverty in Aotearoa’s political economy in the last day or so to 7:00 am on Thursday, July 25 are:News: Why Electric Kiwi is closing to new customers - and why it matters RNZ’s Susan EdmundsScoop: Government drops ...
    The KakaBy Bernard Hickey
    2 days ago
  • The Possum: Demon or Friend?

    Hi,I felt a small wet tongue snaking through one of the holes in my Crocs. It explored my big toe, darting down one side, then the other. “He’s looking for some toe cheese,” said the woman next to me, words that still haunt me to this day.Growing up in New ...
    David FarrierBy David Farrier
    2 days ago
  • Not a story

    Yesterday I happily quoted the Prime Minister without fact-checking him and sure enough, it turns out his numbers were all to hell. It’s not four kg of Royal Commission report, it’s fourteen.My friend and one-time colleague-in-comms Hazel Phillips gently alerted me to my error almost as soon as I’d hit ...
    More Than A FeildingBy David Slack
    2 days ago
  • The Kākā’s Journal of Record for Thursday, July 25

    TL;DR: As of 6:00 am on Thursday, July 25, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day were:The Abuse in Care Royal Commission of Inquiry published its final report yesterday.PM Christopher Luxon and The Minister responsible for ...
    The KakaBy Bernard Hickey
    2 days ago
  • A tougher line on “proactive release”?

    The Official Information Act has always been a battle between requesters seeking information, and governments seeking to control it. Information is power, so Ministers and government agencies want to manage what is released and when, for their own convenience, and legality and democracy be damned. Their most recent tactic for ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • 'Let's build a motorway costing $100 million per km, before emissions costs'

    TL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy today are:Transport and Energy Minister Simeon Brown is accelerating plans to spend at least $10 billion through Public Private Partnerships (PPPs) to extend State Highway One as a four-lane ‘Expressway’ from Warkworth to Whangarei ...
    The KakaBy Bernard Hickey
    3 days ago
  • Lester's Prescription – Positive Bleeding.

    I live my life (woo-ooh-ooh)With no control in my destinyYea-yeah, yea-yeah (woo-ooh-ooh)I can bleed when I want to bleedSo come on, come on (woo-ooh-ooh)You can bleed when you want to bleedYea-yeah, come on (woo-ooh-ooh)Everybody bleed when they want to bleedCome on and bleedGovernments face tough challenges. Selling unpopular decisions to ...
    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Casey Costello gaslights Labour in the House

    Please note:To skip directly to the- parliamentary footage in the video, scroll to 1:21 To skip to audio please click on the headphone icon on the left hand side of the screenThis video / audio section is under development. ...
    Mountain TuiBy Mountain Tui
    3 days ago
  • Why is the Texas grid in such bad shape?

    This is a re-post from the Climate Brink by Andrew Dessler Headline from 2021 The Texas grid, run by ERCOT, has had a rough few years. In 2021, winter storm Uri blacked out much of the state for several days. About a week ago, Hurricane Beryl knocked out ...
    Skeptical Science
    3 days ago
  • Gordon Campbell on a textbook case of spending waste by the Luxon government

    Given the crackdown on wasteful government spending, it behooves me to point to a high profile example of spending by the Luxon government that looks like a big, fat waste of time and money. I’m talking about the deployment of NZDF personnel to support the US-led coalition in the Red ...
    WerewolfBy lyndon
    3 days ago
  • The Kākā’s Pick 'n' Mix for Wednesday, July 24

    TL;DR: My pick of the top six links elsewhere around housing, climate and poverty in Aotearoa’s political economy in the last day or so to 7:40 am on Wednesday, July 24 are:Deep Dive: Chipping away at the housing crisis, including my comments RNZ/Newsroom’s The DetailNews: Government softens on asset sales, ...
    The KakaBy Bernard Hickey
    3 days ago
  • LXR Takaanini

    As I reported about the city centre, Auckland’s rail network is also going through a difficult and disruptive period which is rapidly approaching a culmination, this will result in a significant upgrade to the whole network. Hallelujah. Also like the city centre this is an upgrade predicated on the City ...
    Greater AucklandBy Patrick Reynolds
    3 days ago
  • Four kilograms of pain

    Today, a 4 kilogram report will be delivered to Parliament. We know this is what the report of the Royal Commission of Inquiry into Abuse in State and Faith-based Care weighs, because our Prime Minister told us so.Some reporter had blindsided him by asking a question about something done by ...
    More Than A FeildingBy David Slack
    3 days ago
  • The Kākā’s Journal of Record for Wednesday, July 24

    TL;DR: As of 7:00 am on Wednesday, July 24, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:Beehive: Transport Minister Simeon Brown announced plans to use PPPs to fund, build and run a four-lane expressway between Auckland ...
    The KakaBy Bernard Hickey
    3 days ago
  • Luxon gets caught out

    NewstalkZB host Mike Hosking, who can usually be relied on to give Prime Minister Christopher Luxon an easy run, did not do so yesterday when he interviewed him about the HealthNZ deficit. Luxon is trying to use a deficit reported last year by HealthNZ as yet another example of the ...
    PolitikBy Richard Harman
    3 days ago
  • A worrying sign

    Back in January a StatsNZ employee gave a speech at Rātana on behalf of tangata whenua in which he insulted and criticised the government. The speech clearly violated the principle of a neutral public service, and StatsNZ started an investigation. Part of that was getting an external consultant to examine ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Are we fine with 47.9% home-ownership by 2048?

    Renting for life: Shared ownership initiatives are unlikely to slow the slide in home ownership by much. Photo: Lynn Grieveson / The KākāTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy today are:A Deloitte report for Westpac has projected Aotearoa’s home-ownership rate will ...
    The KakaBy Bernard Hickey
    4 days ago
  • Let's Win This

    You're broken down and tiredOf living life on a merry go roundAnd you can't find the fighterBut I see it in you so we gonna walk it outAnd move mountainsWe gonna walk it outAnd move mountainsAnd I'll rise upI'll rise like the dayI'll rise upI'll rise unafraidI'll rise upAnd I'll ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • Waimahara: The Singing Spirit of Water

    There’s been a change in Myers Park. Down the steps from St. Kevin’s Arcade, past the grassy slopes, the children’s playground, the benches and that goat statue, there has been a transformation. The underpass for Mayoral Drive has gone from a barren, grey, concrete tunnel, to a place that thrums ...
    Greater AucklandBy Connor Sharp
    4 days ago
  • A major milestone: Global climate pollution may have just peaked

    This is a re-post from Yale Climate Connections Global society may have finally slammed on the brakes for climate-warming pollution released by human fossil fuel combustion. According to the Carbon Monitor Project, the total global climate pollution released between February and May 2024 declined slightly from the amount released during the same ...
    Skeptical Science
    4 days ago
  • The Kākā’s Pick 'n' Mix for Tuesday, July 23

    TL;DR: My pick of the top six links elsewhere around housing, climate and poverty in Aotearoa’s political economy in the last day or so to 7:00 am on Tuesday, July 23 are:Deep Dive: Penlink: where tolling rhetoric meets reality BusinessDesk-$$$’s Oliver LewisScoop: Te Pūkenga plans for regional polytechs leak out ...
    The KakaBy Bernard Hickey
    4 days ago
  • The Kākā’s Journal of Record for Tuesday, July 23

    TL;DR: As of 6:00 am on Tuesday, July 23, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:Health: Shane Reti announced the Board of Te Whatu Ora- Health New Zealand was being replaced with Commissioner Lester Levy ...
    The KakaBy Bernard Hickey
    4 days ago
  • HealthNZ and Luxon at cross purposes over budget blowout

    Health NZ warned the Government at the end of March that it was running over Budget. But the reasons it gave were very different to those offered by the Prime Minister yesterday. Prime Minister Christopher Luxon blamed the “botched merger” of the 20 District Health Boards (DHBs) to create Health ...
    PolitikBy Richard Harman
    4 days ago
  • 2500-3000 more healthcare staff expected to be fired, as Shane Reti blames Labour for a budget defic...

    Long ReadKey Summary: Although National increased the health budget by $1.4 billion in May, they used an old funding model to project health system costs, and never bothered to update their pre-election numbers. They were told during the Health Select Committees earlier in the year their budget amount was deficient, ...
    Mountain TuiBy Mountain Tui
    4 days ago
  • Might Kamala Harris be about to get a 'stardust' moment like Jacinda Ardern?

    As a momentous, historic weekend in US politics unfolded, analysts and commentators grasped for precedents and comparisons to help explain the significance and power of the choice Joe Biden had made. The 46th president had swept the Democratic party’s primaries but just over 100 days from the election had chosen ...
    PunditBy Tim Watkin
    5 days ago
  • Solutions Interview: Steven Hail on MMT & ecological economics

    TL;DR: I’m casting around for new ideas and ways of thinking about Aotearoa’s political economy to find a few solutions to our cascading and self-reinforcing housing, poverty and climate crises.Associate Professor runs an online masters degree in the economics of sustainability at Torrens University in Australia and is organising ...
    The KakaBy Steven Hail
    5 days ago
  • Reported back

    The Finance and Expenditure Committee has reported back on National's Local Government (Water Services Preliminary Arrangements) Bill. The bill sets up water for privatisation, and was introduced under urgency, then rammed through select committee with no time even for local councils to make a proper submission. Naturally, national's select committee ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Vandrad the Viking, Christopher Coombes, and Literary Archaeology

    Some years ago, I bought a book at Dunedin’s Regent Booksale for $1.50. As one does. Vandrad the Viking (1898), by J. Storer Clouston, is an obscure book these days – I cannot find a proper online review – but soon it was sitting on my shelf, gathering dust alongside ...
    A Phuulish FellowBy strda221
    5 days ago
  • Gordon Campbell On The Biden Withdrawal

    History is not on the side of the centre-left, when Democratic presidents fall behind in the polls and choose not to run for re-election. On both previous occasions in the past 75 years (Harry Truman in 1952, Lyndon Johnson in 1968) the Democrats proceeded to then lose the White House ...
    WerewolfBy lyndon
    5 days ago
  • Joe Biden's withdrawal puts the spotlight back on Kamala and the USA's complicated relatio...

    This is a free articleCoverageThis morning, US President Joe Biden announced his withdrawal from the Presidential race. And that is genuinely newsworthy. Thanks for your service, President Biden, and all the best to you and yours.However, the media in New Zealand, particularly the 1News nightly bulletin, has been breathlessly covering ...
    Mountain TuiBy Mountain Tui
    5 days ago
  • Why we have to challenge our national fiscal assumptions

    A homeless person’s camp beside a blocked-off slipped damage walkway in Freeman’s Bay: we are chasing our tail on our worsening and inter-related housing, poverty and climate crises. Photo: Photo: Lynn Grieveson / The KākāTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy ...
    The KakaBy Bernard Hickey
    5 days ago
  • Existential Crisis and Damaged Brains

    What has happened to it all?Crazy, some'd sayWhere is the life that I recognise?(Gone away)But I won't cry for yesterdayThere's an ordinary worldSomehow I have to findAnd as I try to make my wayTo the ordinary worldYesterday morning began as many others - what to write about today? I began ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • A speed limit is not a target, and yet…

    This is a guest post from longtime supporter Mr Plod, whose previous contributions include a proposal that Hamilton become New Zealand’s capital city, and that we should switch which side of the road we drive on. A recent Newsroom article, “Back to school for the Govt’s new speed limit policy“, ...
    Greater AucklandBy Guest Post
    5 days ago
  • The Kākā’s Pick 'n' Mix for Monday, July 22

    TL;DR: My pick of the top six links elsewhere around housing, climate and poverty in Aotearoa’s political economy in the last day or so to 7:00 am on Monday, July 22 are:Today’s Must Read: Father and son live in a tent, and have done for four years, in a million ...
    The KakaBy Bernard Hickey
    5 days ago
  • The Kākā’s Journal of Record for Monday, July 22

    TL;DR: As of 7:00 am on Monday, July 22, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:US President Joe Biden announced via X this morning he would not stand for a second term.Multinational professional services firm ...
    The KakaBy Bernard Hickey
    5 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #29

    A listing of 32 news and opinion articles we found interesting and shared on social media during the past week: Sun, July 14, 2024 thru Sat, July 20, 2024. Story of the week As reflected by preponderance of coverage, our Story of the Week is Project 2025. Until now traveling ...
    Skeptical Science
    6 days ago
  • I'd like to share what I did this weekend

    This weekend, a friend pointed out someone who said they’d like to read my posts, but didn’t want to pay. And my first reaction was sympathy.I’ve already told folks that if they can’t comfortably subscribe, and would like to read, I’d be happy to offer free subscriptions. I don’t want ...
    Mountain TuiBy Mountain Tui
    6 days ago
  • For the children – Why mere sentiment can be a misleading force in our lives, and lead to unex...

    National: The Party of ‘Law and Order’ IntroductionThis weekend, the Government formally kicked off one of their flagship policy programs: a military style boot camp that New Zealand has experimented with over the past 50 years. Cartoon credit: Guy BodyIt’s very popular with the National Party’s Law and Order image, ...
    Mountain TuiBy Mountain Tui
    6 days ago
  • A friend in uncertain times

    Day one of the solo leg of my long journey home begins with my favourite sound: footfalls in an empty street. 5.00 am and it’s already light and already too warm, almost.If I can make the train that leaves Budapest later this hour I could be in Belgrade by nightfall; ...
    More Than A FeildingBy David Slack
    6 days ago
  • The Chaotic World of Male Diet Influencers

    Hi,We’ll get to the horrific world of male diet influencers (AKA Beefy Boys) shortly, but first you will be glad to know that since I sent out the Webworm explaining why the assassination attempt on Donald Trump was not a false flag operation, I’ve heard from a load of people ...
    David FarrierBy David Farrier
    6 days ago
  • It's Starting To Look A Lot Like… Y2K

    Do you remember Y2K, the threat that hung over humanity in the closing days of the twentieth century? Horror scenarios of planes falling from the sky, electronic payments failing and ATMs refusing to dispense cash. As for your VCR following instructions and recording your favourite show - forget about it.All ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Bernard’s Saturday Soliloquy for the week to July 20

    Climate Change Minister Simon Watts being questioned by The Kākā’s Bernard Hickey.TL;DR: My top six things to note around housing, climate and poverty in Aotearoa’s political economy in the week to July 20 were:1. A strategy that fails Zero Carbon Act & Paris targetsThe National-ACT-NZ First Coalition Government finally unveiled ...
    The KakaBy Bernard Hickey
    1 week ago
  • Pharmac Director, Climate Change Commissioner, Health NZ Directors – The latest to quit this m...

    Summary:As New Zealand loses at least 12 leaders in the public service space of health, climate, and pharmaceuticals, this month alone, directly in response to the Government’s policies and budget choices, what lies ahead may be darker than it appears. Tui examines some of those departures and draws a long ...
    Mountain TuiBy Mountain Tui
    1 week ago
  • Flooding Housing Policy

    The Minister of Housing’s ambition is to reduce markedly the ratio of house prices to household incomes. If his strategy works it would transform the housing market, dramatically changing the prospects of housing as an investment.Leaving aside the Minister’s metaphor of ‘flooding the market’ I do not see how the ...
    PunditBy Brian Easton
    1 week ago
  • A Voyage Among the Vandals: Accepted (Again!)

    As previously noted, my historical fantasy piece, set in the fifth-century Mediterranean, was accepted for a Pirate Horror anthology, only for the anthology to later fall through. But in a good bit of news, it turned out that the story could indeed be re-marketed as sword and sorcery. As of ...
    A Phuulish FellowBy strda221
    1 week ago
  • The Kākā's Chorus for Friday, July 19

    An employee of tobacco company Philip Morris International demonstrates a heated tobacco device. Photo: Getty ImagesTL;DR: The top six things I’ve noted around housing, climate and poverty in Aotearoa’s political economy on Friday, July 19 are:At a time when the Coalition Government is cutting spending on health, infrastructure, education, housing ...
    The KakaBy Bernard Hickey
    1 week ago
  • The Kākā’s Pick 'n' Mix for Friday, July 19

    TL;DR: My pick of the top six links elsewhere around housing, climate and poverty in Aotearoa’s political economy in the last day or so to 8:30 am on Friday, July 19 are:Scoop: NZ First Minister Casey Costello orders 50% cut to excise tax on heated tobacco products. The minister has ...
    The KakaBy Bernard Hickey
    1 week ago
  • Weekly Roundup 19-July-2024

    Kia ora, it’s time for another Friday roundup, in which we pull together some of the links and stories that caught our eye this week. Feel free to add more in the comments! Our header image this week shows a foggy day in Auckland town, captured by Patrick Reynolds. ...
    Greater AucklandBy Greater Auckland
    1 week ago
  • Weekly Climate Wrap: A market-led plan for failure

    TL;DR : Here’s the top six items climate news for Aotearoa this week, as selected by Bernard Hickey and The Kākā’s climate correspondent Cathrine Dyer. A discussion recorded yesterday is in the video above and the audio of that sent onto the podcast feed.The Government released its draft Emissions Reduction ...
    The KakaBy Bernard Hickey
    1 week ago
  • Tobacco First

    Save some money, get rich and old, bring it back to Tobacco Road.Bring that dynamite and a crane, blow it up, start all over again.Roll up. Roll up. Or tailor made, if you prefer...Whether you’re selling ciggies, digging for gold, catching dolphins in your nets, or encouraging folks to flutter ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Trump’s Adopted Son.

    Waiting In The Wings: For truly, if Trump is America’s un-assassinated Caesar, then J.D. Vance is America’s Octavian, the Republic’s youthful undertaker – and its first Emperor.DONALD TRUMP’S SELECTION of James D. Vance as his running-mate bodes ill for the American republic. A fervent supporter of Viktor Orban, the “illiberal” prime ...
    Bowalley Road
    1 week ago
  • The Kākā’s Journal of Record for Friday, July 19

    TL;DR: As of 6:00 am on Friday, July 19, the top six announcements, speeches, reports and research around housing, climate and poverty in Aotearoa’s political economy in the last day are:The PSA announced the Employment Relations Authority (ERA) had ruled in the PSA’s favour in its case against the Ministry ...
    The KakaBy Bernard Hickey
    1 week ago
  • The Hoon around the week to July 19

    TL;DR: The podcast above of the weekly ‘hoon’ webinar for paying subscribers last night features co-hosts and talking with:The Kākā’s climate correspondent talking about the National-ACT-NZ First Government’s release of its first Emissions Reduction Plan;University of Otago Foreign Relations Professor and special guest Dr Karin von ...
    The KakaBy Bernard Hickey
    1 week ago
  • Skeptical Science New Research for Week #29 2024

    Open access notables Improving global temperature datasets to better account for non-uniform warming, Calvert, Quarterly Journal of the Royal Meteorological Society: To better account for spatial non-uniform trends in warming, a new GITD [global instrumental temperature dataset] was created that used maximum likelihood estimation (MLE) to combine the land surface ...
    Skeptical Science
    1 week ago

  • Joint statement from the Prime Ministers of Canada, Australia and New Zealand

    Australia, Canada and New Zealand today issued the following statement on the need for an urgent ceasefire in Gaza and the risk of expanded conflict between Hizballah and Israel. The situation in Gaza is catastrophic. The human suffering is unacceptable. It cannot continue.  We remain unequivocal in our condemnation of ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • AG reminds institutions of legal obligations

    Attorney-General Judith Collins today reminded all State and faith-based institutions of their legal obligation to preserve records relevant to the safety and wellbeing of those in its care. “The Abuse in Care Inquiry’s report has found cases where records of the most vulnerable people in State and faith‑based institutions were ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • More young people learning about digital safety

    Minister of Internal Affairs Brooke van Velden says the Government’s online safety website for children and young people has reached one million page views.  “It is great to see so many young people and their families accessing the site Keep It Real Online to learn how to stay safe online, and manage ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Speech to the Conference for General Practice 2024

    Tēnā tātou katoa,  Ngā mihi te rangi, ngā mihi te whenua, ngā mihi ki a koutou, kia ora mai koutou. Thank you for the opportunity to be here and the invitation to speak at this 50th anniversary conference. I acknowledge all those who have gone before us and paved the ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Employers and payroll providers ready for tax changes

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