The Nats’ spin is that ‘mums and dads’ were scared off investing in Mighty River Power by the Green-Labour NZ Power plan to reduce power prices but sophisticated buyers bought in. Look at the evidence: 80,000 of the 113,000 retail investors are new to the stockmarket and they boost stockmarket participation by 20%. Hence there were 400,000 existing Kiwi shareholders, and less than 10% of them bought in.
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Yesterday’s NZ Herald editorial gave a hard-line conservative view of what a charity should be. Charities should and must deal with ills of society on a person by person basis without attempting to fix the causation. That sounds more like a parasitical “charity” like the workhouses of the 19th century or the adoption factories of the 20th than anything that a person of goodwill would choose to support.
National admitted today that the sale of Mighty River cost around $100m, and that the paltry 2.5% of New Zealanders who bought an average of $8,000 each are not typical Kiwis. The figures themselves are shocking but the politics is really revealing. English didn’t try to avoid the unpalatable failure of asset sales, he was flippant. He is so out of touch he doesn’t see the problem.
The latest Household Labour Force Employment statistics are out, and on the surface, look good for John and Bill. But this is driven by improved employment in Canterbury over the last quarter. Grant Robertson says, “Disaster recovery is not a plan for jobs”.
“… I demand action from our leaders to work on solutions to the climate crisis. I pledge to get involved …”
Big Western retailers provide us with relatively cheap clothing, through paying low wages in countries where industrial health and safety is poorly regulated. Last month a big garment factory in Bangladesh collapsed, killing over 700 800 people. Ultimately we are all damaged by the profiteering of the elites.
Because things aren’t quite tough enough for first-time home buyers yet.
Here are the numbers that sum up the MRP sale fail – foremost among them the $1,000 that the government has spent per Kiwi investor attracted.
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Well Key’s cornerstone policy, the one that many commentators claimed was him showing his mettle, has come to fruition. And it’s such a poison chalice he didn’t even have the guts to show up for the big reveal in person (spoiler: less than half the number of people who signed up to oppose asset sales signed up to buy).
Abortion has a long and dramatic history in NZ, but it’s not a history we talk about, or remember. And remembering that history is vital to our continuing push for reproductive rights today. That’s where Alison McCulloch comes in, with a new, brilliant, history of the struggle so far.
We don’t often take Key’s side here at The Standard, but I think that most of us here would agree that on this occasion John Key has been cheated out of a victory that was rightfully his.
Stuff is reporting that John Key is signalling for Aaron Gilmore to stand down. What are the possible implications? [update: information about Claudette Hauiti, next National’s list]
This morning David Shearer gave Labour’s “pre budget” speech. No new policy, but plenty of good one-liners and a strong statement of Labour’s position.
John Key is using “urgency” to push through his anti-democratic Big brother GCSB surveillance Bill. Dotcom’s lawyers have released a 39 page white paper making a range of allegations against the FBI, Obama & NZ authorities. Peters is keeping his cards close to his chest. Update: Peters’ calls government “bully boy” & will vote against the Bill.
From a text exchange leaked to Newstalk ZB it seems that Aaron Gilmore has lied to the PM. The ball is in Key’s court now…
The EPMU has won back millions of dollars of back-pay for workers at Tiwai point after taking a case at the employment authority.
We’re in yet another round of talk of “green shoots” of economic recovery, complete with the hype of an optimistic budget. Maybe they’re right this time, but the recovery, when it does happen, will be in spite of the National government, not because of them. All National have done is hold us back for four years.
The Warehouse has adopted a policy of paying a living wage of $18.50-$20 an hour for longer-term employees. It’s a really positive move and The Warehouse is to be congratulated. It’ll cost about $2.5m a year, or 5% of profits. As we’ve seen in the NZ Power debate, it’s a rare thing for major companies to look beyond their balancesheets to the community they exist within. Now, who’s next?
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Breaking – The asset sales referendum petition has collected 292,000 valid signatures. It needs 16,500 more (about another 5%) to reach the threshold. The Keep Our Assets Coalition has 2 months to get the remainder – and says it will get them…
The new GCSB spy bill is out. For the short version, as @lyndonhood commented: “Admittedly it will be easier for the GCSB to act within their legal boundaries if they don’t have any”. For the long version see the excellent I/S at No Right Turn…
John Key says that Wellington is dying and “we don’t know how to turn it around”. Coupled with Brownlee’s slow suffocation of Christchurch and the Nats’ refusal to unblock Auckland’s transport arteries, its not good news for the major cities. But if Wellington is dying, who killed it? The guy who sacked all the public servants? The guy who killed manufacturing?
Following the Labour and Greens’ rejection of their demand that the parties drop their NZ Power policy to lower power prices, the business elite has announced capital flight. ‘If Origin Energy loses its rentier profits, who’s next? said Phil O’Reilly, close to tears, ‘The banks? The Telecoms duopoly? The petrol companies?* The construction materials oligopoly? The ports and airports?
US universities’ budgets partly rely on endowment funds. Harvard University investment activities in poor countries exploit people and lax regulations, damaging communities, the environment & economies. They are one of the biggest foreign owners of NZ land.
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Spying on Kiwis is ok if “the responsible Minister” says so – this was how the Herald described today’s announcement from John Key regarding the GCSB clean-up Bill. Responsible Minister? Yeah right -that’s an oxymoron when applied to John Key.
The chief executive of the New Zealand Manufacturers and Exporters Association supports the Labour / Green electricity proposals.
Family First have been deregistered as a charity, and they are pushing the line that it is because of their “traditional view of marriage”.
It’s UN Global Road Safety Week, with a focus on pedestrian safety. NZ statistics for pedestrian injuries and deaths are sobering. Children are especially vulnerable to careless driving practices. In the interests of our people and environment, walking and cycling need to be less dangerous, and more fun.
John Key’s excuse for the planned veto of the extension of paid parental leave is that it would put the 2014/15 surplus at risk. There’s several reasons that’s bullshit, the main one being: why is going just under or just over some arbitrary line in the Crown’s books the Nats’ one aim for the economy? The truth is, Key’s using the surplus as an excuse for not doing the right thing.
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The Great Barrier Reef is dying. We are leaving the next generations a poorer world.
The “market specialists” say that the loony left have scared of all the Mum and Dad investors. The “investment sources” say the Mums and Dads are signing up in droves. I’m so confused! Why oh why would those nice “market specialists” be lying to us about the effects of the Labour / Green electricity policy? I just can’t work it out…
John Key promised a “brighter future” – “wave good-bye to higher taxes not your loved ones”; a higher standard of his MPs, and honesty for the PM. John Key’s NZ is actually one of callous entitlement of the elite, and dis-entitlement and Struggle Street for battling Kiwis.
