- Date published:
5:30 pm, May 12th, 2023 - 5 comments
Categories: Daily review - Tags:
Daily review is also your post.
This provides Standardistas the opportunity to review events of the day.
The usual rules of good behaviour apply (see the Policy).
Don’t forget to be kind to each other …
Re airport shares:
Ideologically I am opposed to the sale of publically owned assets..
But I heard an argument a few weeks ago claiming the interest payments paid by council on their share of the airport debt is more than their dividend..
Does anyone know if this is bullshit or not..?..
And can confirm the dividend going to council is after all deductions have been made..?
'cos if that is true..and the shares cost council money..?
Well that's a different story..eh..?
Seems very likely. Debt usually costs more than equity pays out in interest, though recent interest rate hikes could temporarily change that if the Airport isn't actively profiteering.
On the other hand Auckland airport is likely something Council needs to influence and Council should not be being run as a business venture.
According to Simon Wilson – not exactly.
There is no debt owing on the shares (they're a legacy from the previous councils in the Auckland region). But, selling off the shares would enable the Council to retire debt owed in other areas.
Archived from The Herald
It looks like a debate over long term gain (shares generally appreciate, and the blue-chip ones like the airport, also generate a decent dividend in most years – Covid excepted); over short term gain (selling out now, and using that money wisely).
There is no perfect answer (all scenarios have pros and cons). And every position is open to being challenged.
I have to say, I'm glad not to be in those budget decision-making meetings.
That may be true but (speaking as a lapsed qualified accountant) that is only a part of the equation
If the turnover and profit of the business increases this adds massively to its value…and given tourism is taking off again here it is a BAD thing to sell the airport asset….like selling the family silver.
This could give Kılıçdaroğlu the edge he needs for an outright win.
Turkish opposition candidate Muharrem İnce announced Thursday he was pulling out of the presidential race, in a surprise move just three days before the election.
İnce’s withdrawal is set to benefit the main opposition candidate, Kemal Kılıçdaroğlu, who is currently neck and neck with longtime President Recep Tayyip Erdoğan in the polls — and it could even allow Kılıçdaroğlu to claim outright victory in the first round.
“I’m withdrawing from the race. I am doing this for my homeland,” İnce said at a press conference, according to Bloomberg. Earlier Thursday, the Ankara public prosecutor’s office said it was opening an investigation after a sex tape allegedly showing İnce surfaced on social media.