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Open mike 24/07/2010

Written By: - Date published: 6:00 am, July 24th, 2010 - 18 comments
Categories: open mike - Tags:

Open mike is your post.

It’s open for discussing topics of interest, making announcements, general discussion, whatever you choose.

Comment on whatever takes your fancy.

The usual good behaviour rules apply (see the link to Policy in the banner).

Step right up to the mike…

18 comments on “Open mike 24/07/2010 ”

  1. The Chairman 2

    The doubling of the home murder rate last year has gone unnoticed because domestic violence is still largely ignored by New Zealanders, a former police officer says.


  2. The Chairman 3

    Air NZ turns guns on airport deal

    Queenstown business and community leaders want their airport back

  3. The Chairman 5

    Overseas investors to enjoy a higher level of protection than local counterparts?

  4. The Chairman 6

    Brian Gaynor: Acquisition underlines market shortfalls

    • BLiP 6.1

      While I still maintain that Gaynor is the average punter’s best friend when it comes to the ins and outs of the market, I am disappointed with his position on this. Yes, the New Zealand markets are pathetic and weak – but the reason isn’t a lack of sophistication and entrepreneurship amongst investors; rather, the issue is that you’d have to be a complete mug to put your money into the unregulated, casino/wild-west saloon that the New Zealand stock market is. The fact that the government won’t tighten up is indicative of its tacit approval, perhaps even calculated design, for the sale of Aotearoa to international capital. Whipping “mom’n’pop” Kiwi investors for not risking their life savings in the casino is a shallow analysis.

      • Bob Stanforth 6.1.1

        Labour had 9 years to do something about it – why didnt they? Just asking…

      • The Chairman 6.1.2

        I’ve got a bit of time for Gaynor and his regular readers will know that he has indeed highlighted the lack of market supervision and investor protection in our market place (albeit, not in this particular piece).

        When looking for cause, one needs to take the larger picture into account.

        There are a number of reasons why our markets are weak and company stewardship is amongst them.

        I concur with your sentiment in regards to Government’s failure to effectively intervene – and in many cases they were forewarned of dangers of their incompetence so it dose leave one questioning their motive.

        Mum and dad investors turned to property as our market failed to benefit them and our banking sector was only to pleased to help with the growth in that sector. As we all know, foreign investors largely funded this. The banks borrowed short and lent long, the principal entered and stimulated the local economy but the interest incurred has left the nation with a fiscal shortfall.

        Similar occurs with foreign ownership, profits head offshore (as Draco T Bastard has highlighted in the post above) also leaving the nation with a fiscal shortfall. Predominantly, it’s our most lucrative sectors that are in foreign control.

        But it gets worse. Our trade imbalance also sees a large percentage of the benefits arising from consumer spending head offshore. The shelves in our stores are predominantly stocked with imported goods.

        We have a low pay base. Foreign ownership deprives us of our earning potential. We spend more than what we earn (largely funded from offshore). We import more than we produce. And local consumer spending predominantly goes on goods provided from offshore.

        As a nation, is it any wonder we are so broke?

        Re: Whipping “mom’n’pop’ Kiwi investors for not risking their life savings in the casino is a shallow analysis.

        Gaynor wasn’t totally blaming Mum and Dad investors. Nevertheless, Mum and Dad investors have decided to shun the markets and now the markets are working on getting the law changed so as to force us all to invest – compulsory Kiwisave. And I see Mallard is for it.

        Can you believe it? Mum and Dad investors have just recently lost billions, new regulation is yet to be set in place, and they are calling for compulsory Kiwisave?

    • Draco T Bastard 6.2

      These offers were successful because we didn’t have sufficient savings and capital to match the Australian acquirers.

      Actually, they were successful because we allowed foreign ownership. If that hadn’t been allowed then it wouldn’t have happened and, as our businesses grew, we would have had more capital to invest. Foreign ownership is bad for the economy.

      Once again we sold these forests far too cheaply because we didn’t have sufficient savings and risk capital to take a long-term view.

      No, once again they were sold because we allowed foreign ownership.

      Asian investors have now spotted the massive potential in our dairy and food industry and, once again, we don’t have sufficient capital to compete with them.

      And again…

      In the 1980s/90s our really stupid governments (in cahoots with our really stupid business owners and managers) set us up to fail by allowing foreign ownership and now we’re failing.

  5. Bill 7

    What is it with Goff?

    Why is it that when he starts up I just want to tell him to stfu?

    Well, I think I might have a partial answer.

    Back in the day we had sport commentators on radio. And because they were commentating over radio, they had to state the obvious. Some of these commentators moved to TV and took there habit of stating the obvious with them. Which was annoying.

    And Goff is like one of those commentators. But worse. Because he is commentating on the bloody action re-play! And he’s got that whole strangely emphasised stop…go.stop…go….stop thing going on with his speech like, actually…all that jabbing staccato, is that a speech pattern we use when we are really hyped up and on the verge of expressing physical aggression?

    “And so Smith. passed the ball to Jones. who held it for a second. before crossing it over the heads of two defenders. to where McDonald was waiting. and he. put it in the net. for a goal. Which means that another goal. was scored.”

  6. Adrian 8

    You have nailed it, Bill. For God’s sake get him some decent coaching and advice for all our sakes. He appears to be trying to give things too much emphasis without running the risk of putting his foot in it, but unfortunatley it just sounds laboured ( sorry, unintentional) but I can’t think of a more apt description.

    • Bill 8.1

      Taking Goff from the make belief commentary above to a dancing heart felt…

      “Go-o-o-a-a-l! Woo-hoo! Kiss my bare, lilly white arse!”

      Not do-able.

  7. Jum 9

    What does that say about New Zealanders who prefer liars like JKeyll, Hide and English than Goff who doesn’t quite sound right. Give me strength.

    All this crap about New Zealanders being clever and understanding who to vote for – nonsense. They just want money and they think that selfish, narcissistic Key is just the person to give it ’em because he’s got millions. He’s not. He took those millions off other people.

    If someone points out to me that that money is just paper money, created from no gold base, not taken from ‘people’ then it merely proves my point about the complete lack of substance in anything in or surrounding the national party leader. In fact I can hear him laughing from here. He’s laughing at us as we try to survive from day to day in the brave new world he and his kind are preparing for us. Sadly, NZers aren’t looking past the pasted smile that hides the real agenda. But Key knew that.

    I hope the media and political commentators like Colin James are watching carefully when that man they think is so wonderful slowly reduces this country down to a fiefdom, it’s pride gone and its people broken.

    But, Kiwis don’t care right now. Kiwis aren’t interested in 2 years down the track when we’re owned by ‘some one else’s country’ and our minimum wage set in concrete has been chipped away… They’ve learnt well from the BusinessRoundtable of borderless scavengers about ‘why wait; you can have it now’, ‘we’ll lend you the money; you’ve got 36 months to pay…’ and are now in hock up to their eyeballs. Those so called business leaders are the people who should be in prison, with JKeyll and Hide and English the grinning hyenas right in there with them. Double-bunk ’em too. They’ve been up one another’s backsides the whole time they’ve been in control.

    They’re embarrassing on the world stage. New Zealand had a good history built on respect for our independent thinking, our global inclusiveness and our diplomacy. Now it’s in tatters.
    New Zealanders know what they’re doing? Bah.

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