#StandWithPike

The Pike River families have decided to take a stand and are occupying the road to the mine to ensure it cannot be closed, sealing up the evidence of what happened and the bodies of their loved ones forever.

Like Solid Energy, hubris behind Landcorp’s predicament

Solid Energy was this month placed in Voluntary Administration following its financial collapse. Landcorp may not be in quite the same pit as the coal miner, but negative cash-flow and rising debt likely mean it has breached banking covenants. It may be forced to sell good assets at the bottom of the market. Simon Louisson questions why?

John Key admits National Government failed to properly monitor Solid Energy

John Key has just admitted that Ministerial and Treasury oversight of Solid Energy was not up to scratch but suggests that external analysis would have provided a lot more accountability.  Oddly enough I had always thought that it was the job of the relevant Ministers and their advisors to provide oversight.  And he has hinted at the privatisation of TVNZ and NZ Post …

English drained Solid

Some great work from Labour yesterday as they got the documents showing Bill English being advised about Solid Energy’s predicted lower profits from a lower coal price  – and asking for a bigger dividend anyway.

Two Things

Parata was told it was too early to make Christchurch school decisions by her ministry and why aren’t we allowed to know how much the state paid off Don Elder when he resigned over Solid Energy’s rapid decline?

Lies, damn lies, and rigged polling questions

In 2010 the largest protest for a generation in NZ marched down Queen St to oppose mining. But by squinting sideways at some rigged polling questions, industry advocates (aided and abetted by dumb headline writers) would have you believe that we the people support mining…

The losses keep coming

Welcome to National’s economy: Kiwirail has just announced 158 infrastructure and engineering job losses, and this afternoon Solid Energy will probably announce the loss of 300 jobs at Spring Creek, and 200-250 elsewhere.  This on top of the swathe of job losses in Huntly and Christchurch Solid Energy announced a month ago.

The Sell-off Begins

So John Key’s great bit of policy for the election is to sell off the family jewels.  Generations of New Zealanders have built up these assets, and now, like in the 90s, National intend to flick them off to foreign investors, and drain the country’s wealth.

The new economy: Govt as an economic actor

Three government investment decisions in the last couple of weeks have shown the deficiencies in the neoliberal way of doing things. SOE Solid Energy’s lignite-to-liquids obsession, Kiwirail buying trains in China rather than making them itself and Steven Joyce decision to re-create Telecom’s monopoly by giving it 70-84% of the broadband contracts.

A Stupid Business

The Commissioner for the Environment’s “Lignite and Climate Change: The High Cost of Low Grade Coal” has been released today. Its release had been postponed because of concerns that it would become entangled with reports concerning the Pike River Mine disaster.

Solid Energy on the block?

Solid Energy chairman John Palmer has suggested that a partial sale of the SOE could be on the cards. John Key has backed down on every time when he has been challenged on whether he would ever sell a specific asset. We now have permanent promises that Kiwibank and NZPost will never be sold, in full or in part. Someone should ask him if he’s ever going to sell Solid Energy.

Solid Energy co-opts kids to push coal

Solid Energy has been caught out commissioning future leaders to pen fantasy stories in school hours. The company is inviting high school students in key coal-mining areas to submit an essay on: “The role of coal in sustainable energy solutions for New Zealand”.