Open mike 30/08/2010

Written By: - Date published: 6:00 am, August 30th, 2010 - 32 comments
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32 comments on “Open mike 30/08/2010 ”

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  1. Pascal's bookie 1
    30 August 2010 at 7:45 am

    Sarah Palin at the Glen Beck rally:

    I must assume that you too, knowing that no, we must not fundamentally transform America as some would want, we must restore America and restore her honor!

    Right. Restore America. There’s a word for that sort of approach, and funnily enough, it’s got her name in it.

  2. Jenny 2
    30 August 2010 at 8:14 am

    Media release
    30 August 2010

    kia Ora Gaza responds to Israelie propaganda

    Last night, TVOne’s ‘Sunday’ programme screened the BBC Panorama story ‘Death in the Med’.

    As ‘Sunday’ presenter Cameron Bennett noted, this story gives the Israeli version of what happened on the humanitarian vessel Mavi Marmara when it was stormed by Israeli commandos on 31 May, leaving nine civilian aid volunteers shot dead and dozens more wounded by gunfire.

    Kia Ora Gaza’s response to this Israeli propaganda has been posted on the Kia Ora Gaza website here.

    Reprinted below is a quote from this post by Kia Ora Co-organiser, Grant Morgan:

    Cameron Bennett asked the question: Will this Israeli version of history sway people? My answer: probably not many.

    The murderous and terroristic Israeli military attack on a humanitarian aid ship on the open sea in the dead of night was so indecent that the world’s majority are lining up against the illegal and immoral siege of Gaza’s 1.5 million people.

    Today on kiaoragaza.net we have posted seven articles which, in different ways, expose the Israeli propaganda attack.

    If you do come across someone who is swayed by this Israeli propaganda, simply point them to Kia Ora Gaza’s website.

    • Draco T Bastard 3.1
      30 August 2010 at 11:44 am

      Good for them. It’s about time we started paying our teachers well.

      • KJT 3.1.1
        30 August 2010 at 12:24 pm

        Good on them. The Government is offering a pay cut.

      • Bored 3.1.2
        30 August 2010 at 1:46 pm

        We do pay them well, they have been very good at getting good pay and conditions for years as a result of their strong union. What the government wants is to break this so that they can pay less (which I dont want). I would however wish that teachers were more active in support of other employees in their sector.

  4. The Chairman 4
    30 August 2010 at 9:40 am

    Disaster looms in south
    http://tinyurl.com/29s6p5b

    • freedom 4.1
      30 August 2010 at 10:05 am

      i am confused, why would the govt do a bail out when they have all the international investors ready to buy up the farms. Was that not Jenny Shipley escorting all those investors on tours of South Island rural properties earlier this year?

    • Draco T Bastard 4.2
      30 August 2010 at 11:48 am

      “It would put quite a dent in Canterbury farming,” said Federated Farmers’ Mid Canterbury Dairy chairman Frank Peters.

      Seems to have a silver lining. In fact, that may be a gold lining. All we’d need is for the government to ban the sale of land to overseas “investors”. Unfortunately, that’s unlikely to happen unless Labour get in next term and even then it’s still not likely.

    • vto 5.1
      30 August 2010 at 10:28 am

      I recall previous SCF ceo Lachie McLeod, and in fact Allan Hubbard, as recently as 2009 smugly commenting on fast and loose money being lent on poorly structured deals and projects elsewhere in the country, implying that only SCF had the required prudence etc. Sniggering they were, at others.

      While I detest the pain that will come for many shortly, the old old saying about he who laughs last laughs best comes to mind.

      As with near every other recent collapsed company there has been a heavy element of smug arrogance at SCF for some time. Always an indicator of trouble ahead ….

    • vto 5.2
      30 August 2010 at 10:32 am

      This meltdown has the potential to be a big big BIG problems for this National govt.

      Picture this … all those SCF assets (big farms, small farms, rural industry business, etc) being dumped onto the market for sale. Add in the rapidly rising tide against foreign buyers buying up NZ and what do you get?

      Only the money in NZ to buy those assets, which aint much, leading to massive asset value collapse. Which leads directly to a change in govt ….

      • grumpy 5.2.1
        30 August 2010 at 11:55 am

        Mostly right vto, the asset value will be hammered but the earnings will be unaffected. I pity the young sharemilkers more than the corporate farm owners that SCF seemed to lend to. It seems that SCF, through subsidiaries, lent huge amounts to these young couples who may lose their herds.

        Someone will get a bargain when the farms are sold, maybe Landcorp to put with the Crafar ones?

    • Draco T Bastard 5.3
      30 August 2010 at 11:54 am

      “It may need a bit of assistance from the Government to get it over the line.”

      That’s uber efficient private business lining up for the taxpayers money – again. They’ll probably get it as well so even more of our wealth will be going to the profits of individuals. If the government did “rescue” SCF then it should, just like AirNZ, take ownership of it and the farms that they’ll be foreclosing on (Reading between the lines – SFC is collapsing because the farms can no longer pay the bills).

      • grumpy 5.3.1
        30 August 2010 at 11:57 am

        Never thought I would see the day Draco – but you are entirely correct.

      • Bored 5.3.2
        30 August 2010 at 1:48 pm

        Yeah, its a boom mentality, just like housing, take on the debt on the basis that returns will always go up….now we will have to bail these ******rs out.

      • vto 5.3.3
        30 August 2010 at 3:43 pm

        Yes it all makes an interesting tale, just one of which is …..

        All these years and decades farmers have been bemoaning the quick and fast money in centres like Auckland speculating on property and ramping things up with seemingly no base, when in actual fact the biggest property speculators in New Zealand have been the farmers. It is a well known fact that for the vast majority of them the model is … speculate that their property’s value will increase. The income is merely a means to get there.

        SCF’s meltdown is highlighting this to the generally uninformed public.

        • vto 5.3.3.1
          30 August 2010 at 3:59 pm

          One last post before the whitebait season begins….

          It may seem as if my posts display some quite hefty antipathy towards farmers. This is not actually the case. Farmers are a group of people in our country like the rest of us. They have their issues like the rest of us.

          Where they fall down imo is in still failing to acknowledge the massive detrimental effect their industry has had and continues to have on the environment (whch cannot take it much longer I suspect), and also in having some huge and misplaced arrogance over their place and activity in NZ.

          Both foibles are being exposed with the bright sunlight of today. Lets hope they can sort their shit out. We all need each other.

          out

        • Herodotus 5.3.3.2
          30 August 2010 at 4:21 pm

          Is this speculate on the property not a business model for most industries in NZ?
          Unless you get into financial trouble e.g. Fletcher Challenge in the 80’s where they diversted out of land and leased back with long term leases, this was to keep overseas investors happy with a debt ration approaching 45:55.
          How about the Warehouse, Foodstuffs and their seperate property coys. Many small enterprises have their most profitable day the day they sell up (Retire), or keep the land as part of their pension fund if they can relet commercial land. As long as with any business model the debt assigned to the propety does not warrent its real value, and when adverse economic times (Like today) and the property is vacant or tennant has gone bankrupt with arrears of rent there is a paper wealth but cash poor and no market for he said property.
          Also VTO re dairy, have we not experienced the 2 greatest years (Milk Fat payouts) within the last 4 of all time. If the model fails now when was it going to succeed?
          I remember Marac and SCF being touted as the 2 strenghts of the finance industry. So with these events why would anyone invest in this market. It is doomed to die a messy death, along with the lack of venture capital NZ will be the long term loser as we stumble along with only what the main trading banks determine what are winners, or more importantly safe money that they can lend out and bleed NZ dry with the interest rates and fees. Just try and get continual credit lines for a successful major coy in NZ let alone a start up.

      • The Chairman 5.3.4
        30 August 2010 at 4:30 pm

        I think it is more a case of SCF borrowing short and lending long. Nevertheless, totally agree. If the taxpayer is going to bail them out, then we should be taking a controlling stake.

    • BLiP 5.4
      30 August 2010 at 1:59 pm

      Remind me – for I am a slow learner – what was wrong with the gold standard?

      • Draco T Bastard 5.4.1
        30 August 2010 at 6:15 pm

        There wasn’t enough gold in the world to represent all the money.

        • Draco T Bastard 5.4.1.1
          30 August 2010 at 8:25 pm

          Actually, there isn’t enough productivity or assets to represent all the money either.

          • Luxated 5.4.1.1.1
            31 August 2010 at 1:54 am

            The next logical step in this argument is to conclude that price has little to no relation value or costs ipso facto money (as it is currently at least) is fundamentally flawed as a medium of exchange.

  6. The Chairman 6
    30 August 2010 at 9:59 am

    Labour Party MP Lianne Dalziel will hold the government accountable over a $250 million taxpayer funded bailout for South Canterbury Finance

    http://home.nzcity.co.nz/news/article.aspx?id=119106&fm=psp,nwl

    • grumpy 6.1
      30 August 2010 at 11:59 am

      Dalziel is talking crap here. Given the Statutory Manager’s latest statements, the Government’s steps were completely justified. Just a pity they didn’t act the same with previous finance company collapses.

  7. Logie97 7
    30 August 2010 at 5:15 pm

    Did Tolley mislead Parliament in her answer to Parliamentary questions on the National Standards last week?

    The Press reports
    … She said she had been to the annual conference of the STA and found president Lorraine Kerr and her executive were “extremely supportive” of national standards. Kerr had won a standing ovation from the 600 delegates at the conference, Tolley said.
    “I think that’s a very good sign that that conference of 600 representatives were supportive of their stance.”
    But Kerr yesterday said she had “never said” that boards were supportive of the policy. Tolley’s claims about the standing ovation were “an awkward one to answer”, she said.
    The standing ovation had been in recognition of her 21 years of service as a school trustee. …

    http://www.stuff.co.nz/the-press/news/4066017/Claim-of-support-rejected

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