Posts Tagged ‘meridian’

National – a party for wastrels

Written By: - Date published: 1:08 pm, January 24th, 2014 - 13 comments

The Crown Financial Statements to the end of November 2013 show that the sale of Meridian and Air New Zealand added hundreds of millions of dollars to the cost of the asset sales programme. Combined with the cost of the Mighty River Power sale and ancillary costs such as the Rio Tinto payout, the total cost of the asset sales now stands at $440m. National just likes burning the money of the taxpayers for no productive purpose.

The English are also selling their assets cheaply

Written By: - Date published: 8:35 am, October 25th, 2013 - 23 comments

Meridian’s share price appears to be under value and will no doubt ensure that shareholders reap an early bonus.  With a rate of return of over 10% for the first year you have to wonder what economic genius decided to sell shares to pay down debt with an interest rate of half that amount.

Over in the UK the tories there have engaged in a similar exercise where Royal Mail was sold under value and shareholders watched as their shares went up in value by over 60% in a month.

I wonder if Key and English have been receiving lessons from the Tories?

Mighty Big Gamble on Mighty Big Gift

Written By: - Date published: 8:43 pm, August 20th, 2013 - 19 comments

Hey John, how much public money are you going to pay the wealthy to “buy” our assets? (And how just desperate are you…?)

Market not impressed with $30 Million payout

Written By: - Date published: 7:11 am, August 9th, 2013 - 89 comments

Yesterday John Key gave $30 Million of tax payer’s money to Rio Tinto in order to prop up its electricity deal with Meridian – and thus to prop up his privatisation ideology. Mighty River Power shares took a hit. Smart investors getting out?

Another $30 Million to prop up Meridian sale

Written By: - Date published: 10:08 am, August 8th, 2013 - 55 comments

John Key just spent another $30 Million of tax payer’s money to prop up his privatisation ideology.

Why the Meridian sale will go ahead regardless of cost

Written By: - Date published: 7:26 am, May 27th, 2013 - 57 comments

When even the notoriously right-wing NZ Herald Editorial is pleading for Meridian not to be sold (just now), you know that the government’s asset sell-down is in trouble.

But the Herald assumes that getting the best dollar possible is the plan here.

It’s not.

$2.49

Written By: - Date published: 7:23 pm, May 20th, 2013 - 98 comments

That’s what Mighty River stocks closed at today. Down on their issue price within ten days.

Brownlee’s power reforms hurt national interest

Written By: - Date published: 9:00 am, July 22nd, 2010 - 22 comments

We’ve seen the last minute back down on mining after tens of thousands of Kiwis stood up, we’re seeing a growing tide of anger as Kiwis realise that all our work rights and wages are for the chop.. but one policy that has avoided public criticism on the level it is getting from within the industry is Gerry Brownlee’s mad electricity reforms.

Brownlee destroys a free market choice. Shut Whirinaki to get it back.

Written By: - Date published: 10:30 am, December 10th, 2009 - 26 comments

From the Meridian Energy web site. Meridian Energy Limited has confirmed it has suspended offering new Renewable Energy Notes under the investment statement dated 29 October 2009 following the decision from the Ministerial Review into the Electricity Market to transfer ownership of two of its South Island hydro stations to its sister SOE Genesis. Energy […]

No spark in Nats’ power reforms

Written By: - Date published: 4:34 pm, December 9th, 2009 - 39 comments

A friend just texted: “Brownlee’s power reforms look relatively benign, what’s the catch?” It’s true, Brownlee’s reforms are just minor tinkering. The only thing of note is the needless little kick in the guts for environmentalists by making Meridian take on Whirinaki. And that tells us something. For all National’s bluster in opposition about power […]

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