“John Key’s asset sales have descended from failure to farce” – that’s how Metiria Turei described the announcement that Mighty River Power will be buying back shares just five months after they were privatised. Clayton Cosgrove put it more bluntly: “It’s a good thing the government doesn’t own a brewery cos they couldn’t organise a pi .. a DRINK in one”.
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Thomas Stocker of the IPCC’s science group is in New Zealand for a few days. Local science groups have taken the opportunity to put together a stakeholder workshop to allow Stocker and NZ lead authors to present the key findings of the recently published AR5 WG1 report. The public workshop is being held tomorrow, Friday 11th, from 9am to 1pm in Wellington and will be web-cast live.
Scott prays to the eternally independent Reserve Bank Governor.
For the second time in less than 12 months the High Court has ruled a decision of Hekia Parata’s to be invalid. The latest decision to be invalidated was the decision to close Phillipstown School in Christchurch. It is clear that either Parata needs better advisors or John Key needs a new Minister of Education.
The Board of Mighty River Power has announced that it is buying back up to 2% of its shares because this is a prudent use of capital and will be value enhancing. It is a shame that the Government was incapable of seeing this. Expect a surge in its share price to occur and I suspect that this will be beneficial for the Meridian float.
An article in today’s UK Guardian highlights the role of Key’s, US-supporting, government in the GCSB, Dotcom, surveillance saga (and TPP). It is chilling & shows why we need to continue to campaign against NZ’s surveillance state legislation and for TPPA transparency.
Cunliffe’s CTU speech is significant, rousing and inspiring, laying out a shift “from a cost-based to a value-based” strategy- for an inclusive society and one that provides a good life for “all” Kiwis, with opportunities for all. Video of the speech is a must see. And social security? [Update: Gordon Campbell] & Turei’s speech
David Cunliffe showed that he wasn’t just pandering for votes in the leadership race by reaffirming and strengthening his commitment to work rights at the CTU conference yesterday. When David is PM the minimum wage will rise to $15 an hour, the public service will set an example by paying the living wage, and the Nats’ attacks on rights will be reversed – no more Fire at Will, no more youth rates.
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In Christchurch East National is up and running in the by election, well sort of. A contributor points out that the National candidate, Matthew Doocey has not referred to the most pressing issues for the residents of Christchurch East, dealing with the EQC and the Insurance companies and the cost of housing.
Hadyn Green was at the Brunei TPPA talks in August for Consumer NZ and a couple of other groups. His post on Public Address today is an excellent run through many of the points that bother me. For instance a section on intellectual property where the TPPA will restrict the current freedom of trade! Arrgghh!.
NZ’s broadcasting and digital communications policies, provisions and regulations do not provide the capability for widespread democratic engagement. Cunliffe has twigged that broadcasting and digital communications policies need to be inter-linked in the 21st century context. NZ’s policies, provisions & regulations on both need major restructuring.
Stopping contributions to the Cullen Fund was always going to stand out as one of John Key and Bill English’s most economically inept decisions. They chose to stop the Fund buying assets just when they were at decades low prices, Crown borrowing was cheap, and markets were already recovering. The cost in just four years: $2.5 billion. And rising.
Time is running out and today is a good day to make sure that you have posted your votes in for the Local Government election in your area. And while you are at it remind your friends and family to do the same.
A recent study gives a strong indication of the extent of, and the recent increases in, insecure work in NZ. It is being released at the CTU conference today, along with the launch of a campaign to improve worker security. [Update: Cunliffe to CTU on Labour pledges]
One thing John Key always seems to like to do is to appear to be stupid about his own job. Last week the fool said that parliament had to ratify a TPPA treaty. Either through incompetence at his job or by deliberately lying to the public, he is completely wrong. This is something that a few minutes reading of the MFAT website could have told him.
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John Key’s role as Obama surrogate in chairing TPP discussions at APEC just reinforce how much Key is deeply involved in crony capitalist, Big Corporate serving networks of influence: ones that link him with anti-democratic Big Tobacco, Big Oil, and climate change denial propaganda.
As the US federal government shutdown drags on, an even more crucial point is approaching. The US government will hit its debt ceiling in ten days. If that happens, the results will be cataclysmic. But the Republicans who control congress hardly seem to care. Having gone nuclear already over Obamacare by shutting down the government, they can’t back down over the debt ceiling.
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My current view is that the TPPA will provide intergovernmental welfare for Fonterra and farmers while destroying our rapidly expanding technical export industry. It just leaves us as a farm for the world just as we we used to be the farm for the UK. We remain susceptible to policy changes from outside destroying our economy. But maybe this public debate on Wednesday evening in Auckland will provide more information.
Statistics New Zealand has released the census night data and there will be one new seat in the North Island. The process of sorting out new boundaries could have significant implications for seats particularly those around Auckland.
The asset sales costs just keep on rising. The tally so far is $124 million. The ‘buy now, pay later’ scheme for Meridian is going to cost $61 million. There will be tens of millions in other sales costs. Now, the Greens have calculated the lost net dividends from Meridian alone at $1.6 million per week. Makes the referendum seem like a good investment in telling Key this is not OK.
The US is creeping toward a week of government shut down. Held hostage by the Republicans Tea Party wing.
It will be fascinating to see what this does to the GOP. Will it split into two parties one essentially fascist and one more like the republicans of old? Or will it just dwindle away for a while?
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The Ruataniwha Dam issue raises a number of issues, from a Board of Inquiry without scientific expertise being selected, a DOC submission inviting the Board to get more information and seek a peer review being dumped, submitters not being able to access the site, a model which NIWA is refusing to allow to be analysed, and a GNS Science contract being terminated because the scientists wanted a disclaimer inserted into their report. There is something fishy going on here.
The Sunday programme this evening has Rob Gilchrist, police spy and provocateur, breaking his silence about the decade he spent amongst mostly peaceful […]
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Old man Armstrong’s out on the Herald’s front lawn this morning, shaking his fist and telling those bloody kids in Labour to stop questioning whether the Reserve Bank is doing the right thing. They should sit quietly and accept whatever the Bank decides to do. This is called ‘consensus’, apparently. Problem is, Armstrong provides no justification for complete RB independence.
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Weekend social is for non political chat. What’s on for the weekend, gigs, film or book reviews, sports, or whatever. No politics, no […]
There is just over a week to go before the 2013 local elections finish. Turnout so far has been disappointingly low and this presents a threat and a challenge. The threat is that progressive incumbents will lose because their supporters do not vote. The challenge is to get family and friends to vote to maximise the prospects of progressives being elected to office.
That would be Steven Joyce describing university councils, but he could be describing any democratic governance.
Earlier this year, National attacked the Greens’ Progressive Ownership housing policy, a ‘rent-to-own’ scheme that effectively gives first homebuyers access to the Crown’s low cost of capital. Nat fanboi John Armstrong said “It is a dog of a policy. It should be put out of its misery”. Now, National’s nicked it. The problem is, they’re just doing it on a token scale.
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