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7:00 am, July 2nd, 2019 - 150 comments
Categories: open mike -
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I'm impressed with the ANZ threatening to essentially disinvest from New Zealand due to the proposed increased capital reserves required by our Reserve Bank.
They will of course be lobbying hard for Westpac, Commonwealth Bank, and BNZ to follow with them. A proper capital strike.
ANZ is 61% owned by US shareholders. Westpac 58% US owned.
Hold tight Mr Orr.
Stay the course Prime Minister Ardern and Minister Robertson.
No one in Wellington would fail to see this as a threat close to that the IMF made in Muldoon's time.
Anyone on The Standard: withdraw your accounts from the ANZ and shift your mortgages to a local bank.
Send them a letter saying that you are doing it and why.
ANZ are now clearly the enemy of this government and its banking regulator and of New Zealand.
Very well said Ad, absolutely agree with you.
https://www.stuff.co.nz/business/113898959/anz-manager-85-staff-out-the-door-for-deleting-emails
+100
Thanks for info about USA holding Ad. Now we know what is screwing us.
I've never understood why anyone here would use any of them foreign banks – have felt that way since I first thought about it in the early seventies. I suppose it makes me seem like some kind of nationalist, yet I became internationalist in the sixties.
Anyway, it would be cool if the ANZ robots did vamoose, and the other invaders followed them. Someone would argue that we need foreign capital for investment, so the foreign banks are an essential conduit. My bias is toward resilience as a nation, and dependence on foreigners seems worse than dependence on nanny state.
In praxis franko, some of us may have been posb customers who got taken over.
Anyone who responds to a takeover by deciding to remain in captivity to the takers doesn't deserve much respect, do they? Poor praxis. Switch to a bank that didn't succumb (TSB, Cooperative) if you don't like Kiwibank…
Dunno Dennis, what about telling them your going to change and they give you so much free stuff it becomes not worthwhile changing, so you remain a customer and keep screwing them.
Does that actually happen?? Perhaps in a target market, such as young high-earners with mortgages living high on credit cards. The debt-is-cool syndrome seems to have been killed by the gfc (unless you look at slow learners).
Not me I'm a low earner , no debt, go without the crap and save.
its not difficult to understand….it was well displayed by the the subprime mortgage experience in the US….you change to the Aussie banks because they will advance the funds (perhaps at a better rate) you desire that the NZ owned institutions will not.
I never encountered that problem! Got all my mortgages from ASB before they sold out to Oz, repaid them no problem. Can't see why anyone else is unable to do the same. Never heard of kiwi banks refusing loans to kiwis. Are you suggesting that all our younger generations are so incompetent that our banks don't trust them??
thats an odd take…..theres plenty of anecdotes where kiwibank (and the like ) have declined finance where the Oz banks have obliged…sometimes they both offer but the best deal is from the Aussies…I can think of numerous examples in recent years from friends and family….you must also remember that the big 4 (oz banks) have the bulk of the market by volume ….even if they wanted the NZ banks cannot absorb that risk in the short term
I understand that competition in the market produces under-cutting, and foreign invaders with deep pockets win those battles, but I don't get why American banks, or British etc, don't feature. Too small a market to bother, I suppose.
I guess the Oz capture of our market was an easy local expansion. Perhaps kiwis are unpatriotic in banking because they think `they're all capitalists, so who cares?"
not sure about the Yanks but weve had the Poms here…they sold out.
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10641807
https://en.wikipedia.org/wiki/National_Bank_of_New_Zealand
And the Indians and Chinese have shown up recently
not sure about the Yanks but weve had the Poms here…they sold out.
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10641807
https://en.wikipedia.org/wiki/National_Bank_of_New_Zealand
And the Indians and Chinese have shown up recently
https://bankdashboard.rbnz.govt.nz/balance-sheet
Because the local banks are utter shit
ANZ may well reduce their investment in NZ but it will have little to do with capital requirements or deposit insurance rather it is their exposure to the (esp)Auckland and rural mortgage markets that will drive it…markets they were instrumental in overcooking.
The RBNZ and NZ depositors have no obligation to underwrite the profits of ANZ (or any other) shareholders.
https://bankdashboard.rbnz.govt.nz/asset-quality
Hear hear Ad.
I think ANZ would rather we talked about their discomfort with Maria Folau and her support of her husband.
Don't let the door hit their backside on the way out.
I wonder if Mr Brownlee is available to show them some shortcuts through the airport.
I am not surprised by the banks pushing back. You can't expect the banks to simply accept a doubling of the capital adequacy ratio, without any debate. On the face of it the doubling seems excessive, given that the banks were among the few in the world with no problems during the GFC.
This "view" that they are the enemy of the government simply because they contest the RBNZ governor's view is akin to dictatorship. In a democracy these things are (and should be) contestable. In fact the RBNZ recognises that because they have set up a submissions process. They don't just impose it.
How were they among the few with no problems during the GFC?
They had to be Govt guaranteed,that is a huge leg up.
The gist of the explanation in the media at the time (Bernard Hickey et al) was that banks here had been collectively prudent. Which is to say that they had adhered to traditional banking practice, whereas deregulation in the USA had induced a culture shift into competitive gambling via derivatives. That shift even pulled in British & European banks, as exemplified by various bank failures there…
Indeed, Blazer. Clearly Wayne has forgotten how close the banks here came to having a bank run, hence the need (at the time) for the Government guarantee.
I don’t recall any risk of a bank run in NZ in 2009. There was never any suggestion that the Aussie banks were a risk. The “run” was on second tier lenders such as finance companies. A number got a government guarantee, most notably Canterbury Finance.
You're usually wrong.
SPC,
Do you actually recall anything about the Aussie banks being at risk, or are you just being contrarian.
You're usually wrong, but right about that. Shy agreemeent with right wingers syndrome.
By that, I meant sure no risk to banks here – here the concern was finance companies.
As for Oz there was no risk to banks, but for a temporaory confidence issue – the government guarantee indicated they saw no risk – because there was none.
Given the escalation of property values and mortgage repayments only affordable while interest rates are low and people retain jobs: there is a growing risk to banks on both sides of the ditch.
Essentially governments have to hold down the OCR so people can afford to own their properties at these values – economic policy has become hostage to these banks. The profits being made on the back of this are of windfall proportions – it is past time to increase the capital reserve ratios.
Glad you said that SPC – we should know this but it seems to go in one ear and out the other any time it is pointed out.
Well Aussies remember.
Billionaire trucking magnate Lindsay Fox, whose family investment fund owned 10 per cent of Bank of Queensland and also had an interest in cash-security firm Armaguard, told Rudd there had been unusually large cash withdrawals and a lack of deposits.
Rudd tells AFR Weekend: "This was big. We feared a run on the banks on the Monday and we knew from our own private contacts around the country there was a massive rush to cash on the Friday and they were fearing lines outside banks."
Across the road from the Brisbane offices of Rudd and Swan that week, an unusual, steady line of Queenslanders queued up at the Suncorp automatic teller machine.
Rudd's office was receiving phone calls from business people and concerned citizens signalling a crisis of confidence was beginning to engulf local banks
https://www.afr.com/news/economy/the-gfc-remembered-ten-years-ago-it-was-all-about-saving-the-banks-20180924-h15spj
Keys arguments are all about the short term outcomes for him and the other employees (executives) not bank stability which is the prime role of the RBNZ.
Are you joking?
The entire US banking and insurance system was bailed out. +/- 100%.
Ergo the entire central banking cartel was bailed out.
RBA / RBNZ / et al.
Here's some evidence of that, One Two.
https://youtu.be/n0NYBTkE1yQ?t=147
@Wayne
The Government guarantee was introduced to prevent a run of deposits across the Tasman, where there was a depositors guarantee.
At the time, there was also a higher demand for NZ hundred dollar notes as more money was being withdrawn locally.
“And so it was concluded that New Zealand had little choice but to follow suit. As a matter of economics, there probably was little real choice but to follow the Australian lead. But the timing was all about politics. Neither economic nor financial stability would have been jeopardised if we hadn’t had a deposit guarantee scheme announced before the banks opened on Monday morning. We’d have been much better to have taken a bit more time and hashed out some of the details with the Minister in his office in Wellington, not at campaign launches and then, as the day went on, airport lounges (at one point late that afternoon I – who’d talked to the Minister perhaps twice in my life previously – was deputed to ring Dr Cullen and get his approval or some detail or other of the scheme). But I guess it might have left open a brief window in which critics might have suggested that New Zealand politicians were doing less for their citizens and their economy than their Australian counterparts.”
https://croakingcassandra.com/2018/10/12/looking-back-to-the-deposit-guarantee/
as usual Waynes memory is selective
I don't think they did get a government guarantee – isn't that the time when it was emphasised that if a bank did get into difficulties, then after reserves had been used, there would be a 'haircut' of a percentage of deposits before government stepped in. I may be wrong but I also thought there was a charge to government by the banks for that limited guarantee. The possibility of losing part of your money from a bank deposit was a surprise to many, and not surprisingly does not appear to be widely advertised by the banks. I believe that there was assistance given to banks at the time of the gfc – Bill English went oversees shortly after being elected telling potential lenders to the government how strong a financial position they had inherited from the previous government – some of the government borrowing at that time was to lend to banks (including I think the ANZ) because they were having difficulties borrowing . . .
If all banks have the same calculation of required capital, that may affect the margin they need to keep up their return on capital – and in New Zealand at least there are no effective competitors; our Finance industry has largely disappeared – due to not having held enough capital for tough times . . .
Talking about government regulation is possibly more palatable than talking about executive benefits though.
"I don't think they did get a government guarantee – isn't that the time when it was emphasised that if a bank did get into difficulties, then after reserves had been used, there would be a 'haircut' of a percentage of deposits before government stepped in. I may be wrong"
You are wrong. It was a full guarantee. It was necessary because the Australian Government was about too announce a guarantee of the banks in Australia that would not apply to New Zealand deposits in the bank subsidiaries in New Zealand. The "run" would not have been away from the bank itself. It would most probably have been from the subsidiary in New Zealand to the home bank in Australia. It would have been the only rational thing for a New Zealand depositor to do as the outflow of money from the New Zealand bank would have put their liquidity at risk.
They should never have included the likes of SCF in the scheme. What Cullen was thinking of is still hard to understand, or forgive.
Banks are not institutions there for the public good Wayne. They are privately owned corporations there to maximise the return to their shareholders. No more, no less.
As a result, if they doo not like the requirements of their existence in this country, then they know where the door is.
+1 yep – pretty basic stuff
Kevin,
So you are saying the banks have no rights, that they can't even debate an issue central to their existence.
Of course New Zealand could run the economy as you suggest. Just impose whatever rules we like. But as most countries who have tried that option have found out, there are consequences.
That is why the RBNZ actually has a submission process, which is more than just window dressing.
If the Aussie banks (actually they all have New Zealand shareholders and are listed on the NZX) simply decamped, how do you think the NZ economy would look like the day after?
so you are saying… the starting line for bull…
sounds like you like the banks there wayne surprise surprise – maximise profit that is what a bank is and does – even an ex cabinet minister knows that surely.
What other industry gets to choose the terms of their regulatory existence Wayne?
And not only that, when you look at recent history, the ANZ does not exactly fill people with confidence that they are there for them. Despite two ‘junior staffers’ raising the alarm over Hisco’s expenses, nothing happened and the ANZ hasn’t exactly covered itself in glory with the Royal Commission into Banking in Australia either.
They will use the system to their own benefit as far as they can push it.
well its really simple right?
ANZ does what the fuck it wants, and customers vote with their feet.
I see no reason why anyone should entrust a bank with their hard earned money if that bank will not guarantee that it is actually able of refunding these deposits.
And that is the crux of the matter right dear Wayne, it is not the banks money that they want to gamble with.
as for ANZ decamping, guess what, other banks – that have no issue with regulations and rules – will pick up that business that ANZ does not want.
You have heard of the 'market provideth' mantra?
That where your wrong Sabine but saying that most people think the same Your deposit legally is simply a claim or a debt on the bank and you are a creditor, what the bank does with that money is the banks call, its now the banks money In essence your just a creditor to the bank secured as much by capital holding requirements and deposit insurance It is totally warranted a bank has it’s say on capital requirements if it’s whole business is based on return on capital
Would that mean a lot of debt being written off waynee?
There isn't a debate. If AD's summary is largely correct, ANZ is suggesting it might take the option of turning its back on NZ profits if their capital reserves are required to go too high.
I'm sure RBNZ will factor that into their reserves of fucks to give.
ANZ pulling out would give more opportunity to other banks to grow, including the local banks.
"…akin to dictatorship."
What blithering nonsense.
Well, if you had a system that simply imposed rules and laws without any submission process, that would be akin to dictatorship.
Which is why New Zealand doesn't run that way. All our laws and regulatory processes have extensive submission processes for those affected and for the public. It is a basic hallmark of democracy.
In our democracy, roughly how many votes does each bank ‘get’?
oh you….shh….one vote per account held?
+1
Corporations are people too doncha know! (shouldn't be)
Legal people. Inorganic. And like the book & doco explained back in '03/04, psychopathic in accord with diagnostic practice.
Remedy: corporate charters that require consideration of the effects of corporate decisions on all affected stakeholders, and laws that enforce accountability on execs.
Yeah, yeah, lets trust the ANZ! Lol . I am about to move my Kiwisaver fund from them……………
" All our laws and regulatory processes have extensive submission processes for those affected and for the public. It is a basic hallmark of democracy. "
Please explain the indecent use of urgency that occurred during nationals term in office.
Urgency is basically extended hours. Not like the system that used to exist in the 1980’s and 1990’s. These days all bills go through a select committee process with public submissions. The exception is tax bills. Governments (both National and Labour) tend to pass these in one sitting.
The only thing "akin to a dictatorship" here is ANZ – both in its internal structure of hierarchical authority and in its attempt to dictate to a democratically elected government. Any rights we give to private dictatorships should be contingent on them acting in ways that serve the public good. Once they cease to do that and focus predominantly on their own private good, we don't need to be excessively attentive to their rights.
Ultimately we need to democratise all centres of economic and political power – which means entities such as the ANZ wouldn't exist in the same way as they do now.
'ANZ is 61% owned by US shareholders. Westpac 58% US owned.'
As I alluded to last week and was told that was nonsense.
ANZ has not bothered adhering to capital requirements for the last 5 years anyway.
Their departure would be great.Totally independent from ANZ Australia when it suits,and totally dictated to when it doesn't.
Maybe a trade off threat to prevent an inquiry as per the revelations across the Tasman.
Be a test of Govt resolve .
Did not see conversation last week but I recall that most shares are bought through a limited number of big global institutions including US-based ones. Does not mean the ultimate shareholders are American, or even not Australian. Just means the system is un-transparent.
"Anyone on The Standard: withdraw your accounts from the ANZ and shift your mortgages to a local bank. "
Which one would you suggest? KiwiBank are saying that they may not survive if the new regulations are implemented as they won't be able to raise the new capital required. Their shareholders seem to be of the view that there is likely to be no economic return from any more investment.
I don't think they are going to be a very good bank to shift to in the new climate of RBNZ policies if that is the case.
https://www.stuff.co.nz/business/113913216/kiwibank-warns-investors-may-starve-it-of-investment-under-reserve-bank-plans#comments
Kiwibank is for all intents and purposes Govt owned.
It can raise capital easily.
Why do you think the Big 4 banks are so profitable?What can they do,that KB can't?
Did you bother to read the article I linked to?
You clearly think you know more about it than the people who run the bank. What gives you such confidence and why should we believe you?
Yes I read it.
Of course I know more about it than people who run the bank.
The GFC,I saw it coming.
The reality is the big banks rely on a tacit Govt Guarantee,the 'too big to fail' argument.
You saw the attempts of the National party when in power to undermine KB,Kiwisaver,the Cullen Fund..and the rewards for doing so are glaringly ..obvious.
I like my co-operative bank. Seriously i ditched ANZ a few years ago after some really fucked up customer service on their part and many emails/phonecalls and call in person to a branch. I have not missed it, i have no issue doing my banking, paying my bills and serving my mortgage.
so yeah, there really is no reason to stay with a bank that despises its customers and only views them as dairy cows to be milked while the going is good and dropped when the going gets tough.
SAME. Find Cooperative Bank great Sabine @ 1.7.2 Get a few dollars back each year and no fees.
Yes I had a similar situation with the ANZ. They didn't care about me, and I certainly don't need them; there are plenty of other money-fakirs where they came from, and the newer kiwi banks from building societies have a good grasp on the system and offer courteous and quick service, very helpful.
https://www.sbsbank.co.nz/about-us/sbs-bank/history
Was Southland Building Society.
https://www.sbsbank.co.nz/about-us/sbs-bank/leadership/corporate-governance
https://en.wikipedia.org/wiki/SBS_Bank
Banking day-to-day, TSB all the way – they routinely top the customer satisfaction rankings and have a decent-sized local branch offering foreign currency and other services. The Co-operative Bank is good too – have one investment account with them, and an under-used current account. No need to use foreign-owned banks.
Disclaimer: I don’t work for TSB or The Co-operative Bank, but do recommend these banks to friends.
http://www.roymorgan.com/findings/7876-satisfaction-with-new-zealand-banks-remains-high-201902142231
I am pretty sure that the TSB is the only Kiwi bank that is separate from using some of the services of the big commercial banks. I think that Kiwibank uses Westpac as 'collecting'? bank.
Tsb are dog shit. Kiwi bank have no cash no infrastructure and no one who knows anything
Bank customer surveys/polls are at odds with Infused's "dog shit" 'evaluation', although to be fair those surveys don't include “dog shit" on their ranking scale.
ANZ CEO Hisco (what was his 'exit' package again?) should have been be dog tucker, but corruption is the new normal under Sir John 'Haven' Key’s ‘watch’.
Yes, something surely stinks, but it’s not “dog shit“.
They’re all shit: horseshit, bullshit, bird shit, chicken shit, stir shit. But ANZ is the worst shit of all and thick as bat shit; Sir John would know as he’s some kind of connoisseur of bat shit.
Ha – penny just dropped re Key's off the cuff "thick as bat shit" assessment.
Co-operative Bank: https://www.co-operativebank.co.nz/
TSB: https://www.tsb.co.nz/about/history
Snap!
TSB consistently wins customer service awards compared with the other banks in NZ. No idea what they are like for mortgages.
and snap
You need to read the fine print on that survey to see how bogus it is
“Bogus“? Care to explain why, or are you only capable of flinging infused shit?
Is Consumer NZ's methodology also “bogus“?
“Local banks have outstripped the big four Australian banks for service…”
“Aussie-owned banking giants ANZ and ASB ranked last.”
https://www.interest.co.nz/business/93065/consumer-nz-survey-finds-tsb-co-op-bank-and-kiwibank-customers-are-happy-anz-and-asb customers are less so.
John Key bet against our currency in the past to gain. He has no loyalty to us.
ANZ has always worked against NZer's best interests, and do need reining in from excessive capital creation through marginal house and farm loans.
Hisco has shown a small sample of the entitled self interested way bankers live.
The Government should immediately institute a Banking Commission as in Australia.
Two words.
John Key
https://www.newshub.co.nz/home/politics/2019/07/duncan-garner-lack-of-compassion-from-a-government-that-promised-to-end-homelessness.html
No shit?! You mean the guy is so powerful even out of govt that he can stop a govt department doing what it's supposed to do? Wow, folks will be impressed…
His is an enduring legacy.
I think the average person in the street is starting to realise how much the last government dropped the ball/did sweet FA.
The enduring legacy of Key is 9 years of austerity and the creation of a multitude of problems associated with underfunding everything.
The homelessness issue is just the tip of a pretty rotten iceberg.
Yes.
But the Nats and their friends in the media – I'm thinking Garner particularly – are attempting to cleanse the previous government's record on the erosion of social services and pretend that inherited social issues are something which mysteriously 'just were'.
This allows them to apply current negative headlines on social issues to the Labour government and accuse them of inaction, false promises, etc.
I haven't actually seen what the Nats propose to do on housing and social spending at all, have you? It’s a policy desert out there.
The current government has continued to make owning a rental property less desirable. In a country where renting is trending upward, without exception the many property managers I regularly speak with have had shrinking portfolios for 3 years. Over the past 3 months 4000 people required emergency housing, double the figure of 12 months ago.
This situation is a runaway train well on it's way to a washed out bridge. 'It's National's fault' is the response of empty, unimaginative, water treading time wasters.
What's the Action Plan Labour? Blame National? How many Cally Jo's will that house?
Gosh, you mean the government still hasn't fixed the homelessness problem? They've been in power more than a year now!
I guess those earthquakes we had in Christchurch several years ago were John Keys fault too! Lets hope the All Blacks win the world cup else poor old JK will get the blame for that too.
nope the earthquakes were not his fault.
but a lot of the shit that people in christchurch had to endure was due to the willful incompetence of the then government.
Poor old JK, poor old JK had a choice to make in the years that he was PM, run a decent government for all, or raise GST on those that have to pay it – the end consumer, drop taxes on those that don't need it, sell every asset that was not nailed and glued to the wall, and allow for hte wholesale of NZ to the highest overseas bidder in order to advance his own little career.
Poor old JK, had a choice to be a prime minister, and instead he choose to pull ponytails, run bad soap jokes on the radio, cut the widowers benefit, cut study allowances for beneficiaries, and settled homeless people with tens of thousands of dollars of in debt for 'emergency housing' to the tune of 2000$ per week in a fucking motel – for this price they could have rented a proper house for homeless.
so keep your poor old jk to yourself, cause there is nothing that will make that man ever a decent human being, and his legacy to NZ is a squandered 26 million for the Laser Kiwi Flag (i would have loved that one!), children and families living in vans near football fields that have open toilets.
All blacks will play as good or as bad as they always do, other teams will do the same, and if JK is given half a chance he will crawl up the arse of that male blond knicker model who also played ball and pretend to me a man of the people.
Wow…you must feel better after that rant. It's amazing he has been out of politics for how long? Brings to mind a song from Frozen…."Let it go…..".
Out of interest, who is the blonde knicker model who also played ball?
That handshake was cursed, man.
Don't let fake “human rights defenders” smear Nils Melzer
https://twitter.com/caitoz/status/1145645207796367361
a scum on the run – you cannot hide the truth martin – you are tainted and will never be clean.
shameful so shameful
We know this or those of us interested know it. We must front up before it can be fixed but often I feel like Tariana
Best to link to the actual information …
https://waitangitribunal.govt.nz/inquiries/kaupapa-inquiries/health-services-and-outcomes-inquiry/
thanks for doing that for me and so graciously too – you're a credit to your name
Health outcomes arent the same for people with different risk factors and lifestyle choices- food , alcohol, smoking being the biggies
My specialist says that around 1/3 of his patients dont attend the clinics he runs for ongoing monitoring.
They wont have the same outcomes as those who do.
here's the challenge though
if ethnic groups are higher risk and they require information delivered a certain way to get cut-through/buy in or whatever – if your specialist isn't of that ethnic group or can't for whatever reason deliver to that higher risk group in the way that they can hear – who is supposed to change. Yes the majority rules and that means great swathes of people who aren't the majority could miss out. That seems to be the evidence – the report shows it is as much racism as anything.
It is well-established by now that the biggest influences on health outcomes (about 70%) are beyond the health sector – mainly poverty, social capital, etc. Too easy for us to say it's about people not looking after themselves.
Al Gore gets talked about a lot due to his championing the environment.
Jerry Brown was talking to Kathryn on 9toNoon this a.m. and he is also well versed in the problems and solutions through being in California which was an early adopter of change, and so able to take on board the size of the problem that we are still grappling with and trying to wriggle away from.
https://www.rnz.co.nz/national/programmes/ninetonoon/audio/2018702246/california-governor-jerry-brown-on-climate-action
Such a significant report is hard to summarise. Fortunately, Gabrielle Baker has been following this whole Tribunal hauora process for over a decade: https://thespinoff.co.nz/atea/02-07-2019/landmark-findings-on-maori-health-lay-a-clear-challenge-to-the-crown/
Keep them off the P and away from Bobbybrown then Tariana.
Gabby for PM – no nonsense here. Straighten up and fly right!
yep gappy for pee minister all right – urine it
saddy is that what you did – get off the pee – lol didn't think so – keep trying there you never know
Gabby, the only "saddy" here is the one who called you that. Not worth considering or replying to, imo. His ‘comments’ above (if you can even call them that) say much more about him than about you.
Nice – so a post about health deficiencies and racism for Māori in our system where gabby says get off the p to help and I'm the bad one for calling them saddy?
good to know what side of the fence you are on, thanks for clarifying
The great arctic journey.Fox travels from Svalbard to Canada in two and a half months.
https://thebarentsobserver.com/en/ecology/2019/06/arctic-fox-across-polar-ice-makes-record-run-svalbard-canada-25-month
Cool story, eh? Transcontinental trip to munch on lemmings. Good to see they provided a satellite's view tracking the trip so you can see its digressions & speed on the ice. Must be a food instinct motivating it (rather than a random trajectory).
The Southland environmental concerns are advancing. I got this message.
As you may be aware two motions on the topic will be debated at our meeting on 3 July 2019. The first motion is, ‘That the Council declares a Climate emergency’.
The second motion is ‘Environment Southland acknowledges that climate change is an important issue which we have to engage with. The Council commits to applying best practice and best science to its responsibilities and accords urgency to developing an action plan’. Please see our agenda.
As someone concerned about climate change you may be interested in a recently released report that was commissioned by all four Southland councils, Regional Climate Change Impact Assessment by the National Institute of Water and Atmosphere (NIWA), which is available on our website.
So tomorrow. If anyone wants to give encouragement now is the time.
Kia kaha Robert.
Was anyone else having an attack of the deja vus this morning as the PM explained how intense negotiations managed to persuade that philanthropic organisation Amazon to film the LOTR telly series here in New Zealand?
https://www.rnz.co.nz/news/national/393416/very-high-level-talks-secure-filming-for-lord-of-the-rings-tv-series
Of course the promised repeal of the nasty Hobbit Enabling Act…. https://thestandard.org.nz/a-rushed-law-is-a-bad-law/ is not going to happen.
'Parties have reached a consensus.'
There were many, many interesting and challenging posts here on TS back then about the nefarious goings on in this sector….where are those commenters now?
https://thestandard.org.nz/tag/the-hobbit/
https://www.youtube.com/watch?v=umj0gu5nEGs
As the saying goes…consensus changes nothing, nor does consensus lead to improvements
Consensus = Status Quo
Gosh! Someone tell the Green Party.
Sadly, Rosemary, I have to say yes to an attack of deja vu. And yes, I was one of the commenters last round.
I live in South Wellington and knew a lot of people who were involved in the last round of the LOTR etc films saga – meaning people who were actually involved in the making of the films. These included quite a few NZers* who worked in the industry or benefitted from the making of the films by providing support services such as catering, renting out property etc.
But as well as NZers, there were many, many film industry people* from overseas who moved here 'for the duration' of from months to some years – taking up rental properties in the south and eastern suburbs of Wellington, educating their children in our local schools etc. This in turn provided some peripheral employment such as child care etc.but usually of a low wage nature.
However, the situation now is very different. Rental property in these suburbs (which range for poor to well heeled) is now extremely hard to get and rental prices have gone through the roof, leaving low income families, beneficiaries, students etc out in the cold, couch surfing, doubling up, many families etc, in crowded accommodation etc. AirB& B is partially responsible but just plain old scarcity of property is the problem. In my suburb, many people are turning garages into accommodation for family, or to make money out of AirB&B, and other forms of rental with question marks over resource consents, meeting sanitary codes etc.
I am not sure whether the Amazon venture will be based in Wellington, but it would seem likely that the facilities at Weka etc will probably be used. If these south/east Wellington suburbs (or any part of Wellington for that matter) are faced with the influx that we experienced during the LOTR film years then things are likely to get to even worse … I am not sure that these factors/ consequences have even been considered in making these decisions to continue to push the film industry here.
I have now reread the RNZ link and Queenstown is expected to feature in the venture. Considering their current accommodation crisis …madness????
* While there were certainly a portion of high paid film people involved in the LOTR etc film projects, ( eg actors, directors, producers, etc) many/most of the people employed were not high paid at all – whether NZers or from overseas.
Thank you vw for your full and considered response. I'm a bit of a looker -backer, (must be an age thing) and am increasingly finding today's hot topics uncomfortably familiar. So I go back and have a read what was being said back then by 'this side' about how the 'other side' managed this issue of putting butter on the paws of film companies….and I damn near choke on the irony.
I guess this is politics and the reality is (the PM did not to my recollection utter those words this morning…please don't tell me if she did or I'll be tempted to abandon all hope) that this is how the game is played.
Sadly, it will take a stronger government than this to turn this around so more benefit from these ventures.
The accommodation aspect had not occurred to me….and of course you're right. Where are these folks going to stay?
Being a more often than not house bus dweller, my first reaction would be for these visitors to rent some of the vast fleet of motorhomes we have in NZ. Not only from the rental companies, but there are a couple of outfits that facilitate private motorhome owners to rent their vans out. (Not us, under any circumstances.)
Of course Queenstown is on the list of places where campers are simply not welcome….
I suppose there are a couple of those unwanted Kiwibuild houses free….
Plenty of billionaires' holiday palaces to rent to taxdodging movie companies.
I'm in this industry and accomodation will be a problem in Queenstown for the periods they will be shooting there. That's because there'll be a high proportion of non-locals involved.
Productions do make decisions based on things like the availability of accommodation. But it wouldn't be beyond them with a budget of this size to set up a temporary town!
Not so much in Auckland where most of the crew, production and extras will be local apart from a few heavyweights up from Wellington.
Of the main criteria overseas productions consider:
New Zealand has a permanent advantage with shooting locations and particularly the variety of different and untouched landscapes in close proximity.
There's a temporary advantage with the incentive scheme and to a lesser extend the exchange rate. Also, our crews are good and cheap (weak worker representation).
Where we fail is, as always, infrastructure. Studio space is awful, most productions having to use commercial warehouse space rather than proper sound studios which are few and far between. No one want to take the risk although that might be changing.
Lastly, American producers love to be on set, and NZ is a long way from anywhere. Canada is much closer and Europe is exciting and they can take their families. We can't do much about that, though.
In short, NZ landscapes and money is what swung this epic production here. Hopefully I can get a decent piece of it.
One more thing to consider is how long will actual outdoor landscapes be required in film-making…
…anyone seen the trailer for Lion King?
Thanks for that M/bird. Hope you get a piece of the action and moolah to match.
We're probably heading for a huge overshoot in residential accomodation in Queenstown. Too much development that's got a long way ahead of the local economy's ability to support. By the time this gets up and running all the builder's toys will be for sale on the road side, and To Let signs will be everywhere.
A lot of the new lower end hotels have been built to be easily adapted to worker accomodation as well, so the shift in tourism away from low yield markets could easily be taken up by a couple of film projects.
The tricky bit in Queenstown is where it's all based, most of the likely sites have been turned into housing. Although they could displace all the rental cars around Frankton (there's about 3Ha of them) but that's all next to the airport so difficult for a soundstage.
Auckland: https://www.rnz.co.nz/news/national/393416/very-high-level-talks-secure-filming-for-lord-of-the-rings-tv-series
Oops, missed that bit – will blame that on massive head cold, not age! Also now noticed that the article also talks about building studios in Queenstown. Perhaps in a perverse way it could end up being a plus for the accommodation crisis there if as part of the agreement to build studios they had to provide an accommodation town as suggested by Muttonbird – but a permanent one, rather than a temporary one.
Empathy on the head cold but mine is in its easing stages. Just wait for Shane Jones and his provincial slush fund to swoop in and subsidise productions by underwriting both studio and workers' housing in that impoverished region.
So yesterday it was Winston accusing people of being anti-immigration.
Today Labour handing out subsidies to the entertainment industry they said were evil for 9 years in opposition to the richest man in the world
You couldn't make it up
I also noticed Ardern is only half ditching the hobbit law and people still can't strike
Chris T go back to Sauron and lick his boots.
Al Gore gets talked about a lot due to his championing the environment.
Jerry Brown was talking to Kathryn on 9toNoon this a.m. and he is also well versed in the problems and solutions through being in California which was an early adopter of change, and so able to take on board the size of the problem that we are still grappling with and trying to wriggle away from.
https://www.rnz.co.nz/national/programmes/ninetonoon/audio/2018702246/california-governor-jerry-brown-on-climate-action
Tulsi! The winner from the first debate.
Funny video with two, yes two good jokes about Meghan McCain.
Yup, she's quite the hit with the right-wingnut and MAGA crowd.
https://www.buzzfeednews.com/article/rosiegray/tulsi-gabbard-maga-debate
??
Surely the right wingnut as Americans like to say will be voting for Trump again
Those voters who believed Trump's campaign talk about bringing back the troops , diminishing the military spend and using the money for repairing run down American infrastructure, and voted accordingly , could very well be interested in Gabbard.
These are the voters disappointed by Trump, and not necessarily right wing, unless anti imperialism passes for right wing in your circles
Those voters sucked in by the Fifth Avenue Fraud's talk about bringing home the troops, diminishing military spend and putting the money towards infrastructure showed a remarkable capacity for hearing only what they wanted to hear and ignoring the massive red flags thrown up by King Con's other talk. So yeah, they may indeed be suckered again by a few bait words from Gabbard and ignore the ugly realities of her total position which includes being pro-droning, surgical strikes, and cool with torture.
But look at the names mentioned in the Buzzfeed article (and links within) that are enthusiastic about Gabbard. You don't reckon Tucker Carlson, David Duke, Ann Coulter, Matt Drudge, Mike Cernovich, Steve Bannon, Richard Spencer et al are right-wing?
Andre thinks those dastardly Russians are controlling her, francesca. Pay him no mind.
Shouldn't be too hard on themselves going into 3 days to get things sorted that part of the world, look at Brexit for a comparision, even here it took a while longer to sort out the coalition govt.
https://www.euronews.com/2019/07/02/eu-leaders-seek-to-break-stalemate-on-top-jobs.
Would have thought the approach would be having sorted a majority block that agrees as one that a clear signal should be sent to the populace in the picks, that a progressive step has been taken by the EU in response to the changed vote direction & preliminary bounds for what those might entail. Then that block by majority decides the best candidates that can combine that with the practicalities of the tasks. Then you have the unanimous confirmatory vote.
The old cart before the horse problem of politics is universal though.
Has anyone else read this compelling Report?
Gordon Campbell on how the Americans are helping us realise the scale of the Operation Burnham fiasco.
http://www.scoop.co.nz/stories/HL1907/S00010/gordon-campbell-on-the-uss-operation-burnham-evidence.htm
Apart from the excellent Paula Penfold, our television "reporters" rarely mention it, and our radio stations are virtually silent. Maybe one of these days Annie Goldson will do another of her Afghanistan-based documentaries on it….
https://morrisseybreen.blogspot.com/2018/10/review-of-he-toki-huna-new-zealand-in.html
https://morrisseybreen.blogspot.com/2018/10/the-disturbing-story-behind-willie.html
Where are the Greens in leading the way to stop plastics at their source ?
There is so much more to do than just banning plastic carry bags.
https://thedailyblog.co.nz/2019/07/02/end-of-life-plastic-solutions-not-as-important-as-sources-greenpeace/
Being considerate. National & Labour have supported plastic since it appeared here in the early 1950s. It's only fair, then, to give them the opportunity to switch from supporting plastic pollution to eliminating it. So the Greens are standing back to watch the Nat/Labs fall over themselves competing to be first to solve the problem. Courtesy in politics is a timely radical move, eh?
Banning further oil drilling tackles the source.
"She's already laughing at him!" That halfwit Ben Shapiro being owned back in 2011
A couple of days ago, some fool on this mostly excellent forum claimed that Shapiro "is no idiot or racist." Just watch this and see if you think he's anything other than a sad, deluded idiot….
Idiot ideologue goes after Bert and Ernie, Big Bird, and their dangerous ilk.
Long before Andrew Neil pulled his wings off, Ben Shapiro had been thoroughly humiliated by Connie Martinson and, in this disastrous appearance, by Thom Hartmann…..
Thanks I hadn't seen that one Morrissey, it's always nice to see bigots being exposed for the morons that they are.
This bloke is especially egregious, because he seems to think he's an intellectual. He's not anything of the sort—as his embarrasing interviews with Connie Martinson, Thom Hartmann, and Andrew Neil show, he lacks the wherewithal to defend his outrageous statements with any semblance of coherent argument.
Shapiro is the American equivalent of Mike Hosking: he's pushy, self-involved, unembarrassable, and overwhelms weaker souls by talking non-stop and very quickly.
On the nail Morrissey – I listened for a while to this Shapiro guy – just as you describe. Unpleasant and obsessed with his own opinion to the point of mania.
Its good to see that our scientists have shown their concern on human caused climate change
More than 50 of New Zealand's top scientists call on Government to declare climate emergency
More than 50 of New Zealand's top scientists are calling for a declaration of a national climate emergency.
Some 52 signatories are current and former winners of the prestigious Rutherford Discovery Fellowship, an $800,000 grant given to 10 researchers each year to help retain and develop New Zealand's top scientific minds.
Quentin Atkinson, a professor at the University of Auckland, said scientists needed to be more vocal and urgent in pushing for change climate change ka kite ano link below.
https://i.stuff.co.nz/environment/climate-news/113946213/more-than-50-of-new-zealands-top-scientists-call-on-government-to-declare-climate-emergency
Kia ora Newshub.
Did you notice that the stuff ups in railway in Auckland stopped after Eco Maori pointed out the shit I no it a bit hard for you people living in your glass houses to believe but the rednecks will do anything to cheat a win didn't you see the links to national in that group. trump is empowering them in many ways
The correction of house prices is good for KIWIs first home buyers.
The business servaye is running by business who back national just more manipulation by them.
Why did nike put that flag on there new shoes good job for the damage to the brand for putting a flag on there shoes that support the old slave trade in America.
Ka kite ano.
Kia ora te ao Maori news.
Tuwharetua will not have been happy about all that waste water going into the taonga Taupo.
It's great that Tuwharetua IWI is working with Oranga tamariki to fix their troubled tamariki whanau.
Te puni kokiri is going back to focus on Maori wellbeing .
Its good to see Maori rising in our new government ka pai.
Tangata Whenua O Aotearoa being discriminated against because of their ta moko people have respect each other come on get on we have a beautiful country.
Ka kite ano
Some Eco Maori music for the minute.
https://youtu.be/tgIqecROs5M
Its good to see that there are more Wahine getting on power on the Papatuanuku stage. Congratulations
OPINION: After some intense horse-trading, International Monetary Fund managing director Christine Lagarde has been anointed Mario Draghi's successor as president of the European Central Bank. That signals a continuity of European monetary policy that won't please Donald Trump.
Lagarde was somewhat of a surprising choice to lead the ECB, having previously said she wasn't interested in any of the senior eurozone roles, including the ECB presidency. She would also be, not just the first woman to head the ECB, but the first non-economist and the first without any central banking experience
Once German defence minister, Ursula von der Leyen won the coveted presidency of the European Commission, however, the next most senior position available, the ECB presidency, was always going to be nominated by the other major European power, France.
Lagarde, a former French finance minister widely respected for her eight-year leadership of the IMF, was sponsored by French President Emmanuel ka kite ano link below.
https://i.stuff.co.nz/business/world/113980452/christine-lagarde-to-inherit-an-ailing-eurozone-and-an-unhappy-donald-trump
Some Eco Maori music for the minute
https://youtu.be/hlfQVvsNLFk
They play the same games no matter where Eco Maori goes
Good story George Monbiot that is exactly how I see OUR Papatuanuku people's reality being manipulated by the billionaires money to suit their greedy goals of being untouchable. Ma te wa time are changing now .
After urging land reform I now know the brute power of our billionaire press
A report I helped publish has led to attacks and flat-out falsehoods in the rightwing media. It’s clear whose interests they serve
All billionaires want the same thing – a world that works for them. For many, this means a world in which they are scarcely taxed and scarcely regulated; where labour is cheap and the planet can be used as a dustbin; where they can flit between tax havens and secrecy regimes, using the Earth’s surface as a speculative gaming board, extracting profits and dumping costs. The world that works for them works against us.
So how, in nominal democracies, do they get what they want? They fund political parties and lobby groups, set up fake grassroots (Astroturf) campaigns and finance social media ads. But above all, they buy newspapers and television stations. The widespread hope and expectation a few years ago was that, in the internet age, news controlled by billionaires would be replaced by news controlled by the people: social media would break their grip. But social media is instead dominated by stories the billionaire press generates. As their crucial role in promoting Nigel Farage, Brexit and Boris Johnson suggests, the newspapers are as powerful as ever.
They use this power not only to promote the billionaires’ favoured people and ideas, but also to shut down change before it happens. They deploy their attack dogs to take down anyone who challenges the programme. It is one thing to know this. It is another to experience it. A month ago I and six others published a report commissioned by the Labour party called Land for the Many. It proposed a set of policies that would be of immense benefit to the great majority of Britain’s people: ensuring that everyone has a good, affordable home; improving public amenities; shifting tax from ordinary people towards the immensely rich; protecting the living world; and enhancing public control over the decisions that affect our lives. We showed how the billionaires and other oligarchs ka kite ano link below.
https://www.theguardian.com/commentisfree/2019/jul/03/land-reform-brute-power-billionaire-press-attacks
Kia ora Newshub.
Its good that the rapid fire human killing guns are being taken off the streets.
Auckland is in a water shortage the people didn't take heed on conserving water they need a get the massage across with the media about the driest last 3 months in years.
That American Judge is discriminatory against the poor common people lettings a boy off serious charges because he is rich .?????
The microplasm bovine virus issue got blown out of the hemisphere because national tried to hide it swept it under the carpet the virus just kept on spreading.
I do think that our government needs to set up a climate change ministry to help people mitigate climate change issues.
Ka kite ano
Kia ora te ao Maori news.
Its cool that Oranga Rehua Marae program is getting a funding boost to help repair the damage caused by the Christchurch earthquake.
The Tuia 250 years since Captain Cook arrived celebration will or can be used as a tool to increase tangata whenua O Aotearoa mana wairua if we use it wisely.
Awesome to see te tamariki kapa haka going strong in Whakatane.
Ka pai to the tamariki of Ruatoki for their win in the kapa haka competition.
Mana Wahine gathering that is cool most Maori Wahine have great roles in our society' men just need to Show them the respect they deserve for gifting us Pepi.
Ka kite ano
Whanau more evidence that climate change is our reality .We have to stop burning carbon to protect our decendince mokopuna futures.
Giant heat dome over Alaska
All-time heat records are at risk in Alaska in the coming days as a massive and abnormally intense area of high pressure locks in and strengthens over the US region.
This heat dome is expected to produce temperatures near and above the highest values ever recorded for multiple days, particularly in southern parts of the state. It's the latest in a slew of record-shattering heat events in Alaska
Anchorage is predicted to match or best its highest-temperature ever recorded of 30 degrees Celsius (set in 1969) on five straight days between July 4 and 8. It could even flirt with 32C.
The US National Weather Service in Anchorage wrote that most of southern Alaska will be "downright hot with many locations in the 80s (high 20s) and even low 90s (low 30s)."
Ka kite ano link below.
https://i.stuff.co.nz/world/americas/114010402/alaska-set-for-record-heat
'Biggest compliment yet': Greta Thunberg welcomes oil chief's 'greatest threat' label
Activists say comments by Opec head prove world opinion is turning against fossil fuels
Greta Thunberg and other climate activists have said it is a badge of honour that the head of the world’s most powerful oil cartel believes their campaign may be the “greatest threat” to the fossil fuel industry.
The criticism of striking students by the trillion-dollar Organization of the Petroleum Exporting Countries (Opec) highlights the growing reputational concerns of oil companies as public protests intensify along with extreme weather
Mohammed Barkindo, the secretary general of Opec, said there was a growing mass mobilisation of world opinion against oil, which was “beginning to … dictate policies and corporate decisions, including investment in clean energy.
He said the pressure was also being felt within the families of Opec officials because their own children “are asking us about their future because … they see their peers on the streets campaigning against Ka kite ano link below.
https://www.theguardian.com/environment/2019/jul/05/biggest-compliment-yet-greta-thunberg-welcomes-oil-chiefs-greatest-threat-label
Some Eco Maori music for the minute.
https://youtu.be/5Yj4j_lZMBo
Mana Wahine its good to see more Wahine on the Papatuanuku stage with power. Kia kaha the men are making a big mess of our Papatuanuku at the minute.
When it comes to global leadership trends, men with the big egos appear to be back; Donald Trump, Vladimir Putin and Brazil’s Jair Bolsonaro to name a few.
But despite the trend, there’s also been moves to foster a more feminist approach to foreign policy
Lyric Thompson, director of policy and advocacy at the International Centre for Research on Women in Washington DC, says a feminist foreign policy is for all, the concept reflects that for the most part, foreign policy has been designed to reinforce the largely male-dominated and patriarchal structures in the global economy today.
“…it’s not saying only look at women, it’s saying look at the power structures that are expressed in a way that we organise everything from defence to trade to diplomacy and think about ways that we can restructure practice that enables a more equitable approach that is inclusive of folks that have historically been marginalised, including but not limiting to women
Ka kite ano link below.
https://www.rnz.co.nz/national/programmes/nights/audio/2018702171/feminist-foreign-policy