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Money Week: avoid getting ripped off
Written By: - Date published: 2:35 pm, September 11th, 2012 - 23 comments
Since 2006, 66 New Zealand finance companies, funds and mortgage trusts have failed (closed, liquidation, receivership, moratorium, suspended). An estimated $3.5 billion has already been lost with another $8.6 billion still at risk.
Guest poster Adele shows the need for a week of events and activities to raise awareness about how people can better manage their money (if they have any) and get help to do so – Money Week.
Apple vs Samsung
Written By: - Date published: 2:38 pm, August 30th, 2012 - 93 comments
When businesses like Apple patent hand waving, obvious design, round corners, or software (which in a way is like patenting maths), we all lose. I’m not pleased with Craig Foss’s “minor amendment” to our block on software patents, but I like this SMBC cartoon…
Would you buy shares in…
Written By: - Date published: 9:28 am, August 18th, 2012 - 42 comments
Mighty River, when its water use rights are in doubt? Meridian, when its deal with its largest customer is in question? Solid Energy, when it is reviewing all its operations due to the high dollar? Genesis, when Meridian could flood the market with cheap power if its deal with Rio Tinto falls through, and a future government is likely to sharply increase the cost of its emissions from Huntly?
Cute with semantics on water
Written By: - Date published: 7:22 am, July 13th, 2012 - 82 comments
John Key has been running round repeating that no one owns water. He’s just being cute with semantics. What is the effective difference between owning water, and owning water rights?
Australia’s sweatshop
Written By: - Date published: 10:29 am, July 7th, 2012 - 69 comments
The Nats have given up on catching up with Australia, and are content for us to become their low wage sweatshop instead. Their cheerleaders think it’s a great idea.
I beg to differ.
Exxon continues denier tactics
Written By: - Date published: 1:51 pm, July 2nd, 2012 - 37 comments
The Exxon Mobil CEO now acknowledges that the world is warming, but claims that there will be an “engineering solution”. This glib reassurance is simply the next phase of Exxon’s well funded and carefully planned denier tactics.
Making it here
Written By: - Date published: 10:42 pm, July 1st, 2012 - 14 comments
SST Business Editor Rob O’Neill said today: “There is a great deal of lip-service paid to “innovation” in business. What is not often acknowledged is how embedded innovation can be in manufacturing. Making stuff, or being able to talk freely with the people who do, can be a source of inspiration and great ideas for companies.” I got a lot of inspiration from Swedish Academic Goran Roos on this topic in Auckland on Friday. South Australian Premier Jay Weatherill has asked him to head up their manufacturing strategy next year. We could do with someone like him too.
A poor investment
Written By: - Date published: 11:07 am, June 28th, 2012 - 60 comments
Now the legislation to sell our assets has passed, the question on lefties’ minds is whether it’s more principled to refuse to buy them or to spend the money to ensure they don’t get sold offshore.
What’s not getting a lot of attention is whether they’re actually the great investment our Prime Minister keeps insisting they are…
ImperatorFish: More Futile and Cynical Policy
Written By: - Date published: 1:54 pm, June 26th, 2012 - 6 comments
John Key must think the New Zealand public have the memory of a goldfish. He’s put forward bold plans before, but they usually end in failure. Closing the income gap with Australia, creating more jobs, reducing the number of people fleeing to a better life in Australia. And now the promise to get back into budget surplus, which he’s already backtracking on.
RWC Tickets
Written By: - Date published: 8:40 pm, May 23rd, 2012 - 32 comments
So Key is ‘surprised’ that David Shearer, the local member for Eden Park, accepted tickets to a local game, and doesn’t feel beholden to corporate interests? He can accept hospitality and still criticise a company is somehow shocking? I think this tells us more about John, than it surprises the rest of us about David…
True ‘cost’ of Mondayisation deliberately hidden
Written By: - Date published: 5:02 pm, May 14th, 2012 - 8 comments
An interesting press release from David Clark, sponsor of the “Mondayisation” bill. It looks like the process of constructing the official advice on this matter was deliberately biased. Why?
House Price Inflation
Written By: - Date published: 10:58 am, May 6th, 2012 - 59 comments
Land prices rising much faster than wages. Shares, derivatives, hedge funds or other financial instruments are designed so that banks can gamble with our money. Win or lose they always get a cut. Loss comes out of our pensions and other savings. Or, if they really stuff it up, taxpayers are expected to borrow more from them to pay for it. Banks following their own self interest and are compounding economies to oblivion. The “invisible hand” has failed..
Nat’s sell Kiwis out for their mates (again)
Written By: - Date published: 9:05 am, April 27th, 2012 - 188 comments
Remember way back when the government were changing the law to take rights off film workers and increase tax breaks for Warners? It was all about keeping Kiwi jobs they said.
Well it turns out that at the same time they were doing this they were also making promises to Peter Jackson that those Kiwi jobs would be given to imported workers.
Banks’ secret donation from the ‘wide boys’
Written By: - Date published: 6:19 am, April 27th, 2012 - 101 comments
John Banks has had a miraculous change of heart on pokies. He used to say gambling bosses were “wide boys” who “sucked” the people of this country dry. Now, he’s rubbed up against John Key and become ‘relaxed’ about more pokies. Maybe the $15,000 undeclared donation from SkyCity helped. A donor Banks was legally required to disclose but didn’t. Labour’s laid a complaint. Update: donation has been referred to police.
A Butcher’s Shop, a Toy Shop, a Candy Store and a Childcare Centre
Written By: - Date published: 1:30 pm, April 25th, 2012 - 14 comments
Steven Joyce’s personal fiefdom of Economic Development, Science and Innovation, Building and Housing, and Labour is confirmed. Now for the redundancies…
Gaming industry whistleblower
Written By: - Date published: 10:21 am, April 23rd, 2012 - 8 comments
Very interesting article on Stuff yesterday, about ex cop Martin Legge and the information that he has on the practices of the gaming industry in NZ. Someone is trying to sweep this case under the carpet. They shouldn’t get away with it.
SkyCity’s convention centre would need $10m+ subsidies – MED
Written By: - Date published: 12:06 am, April 22nd, 2012 - 46 comments
Key’s selling our gambling law to SkyCity in return for a convention centre with no government capital contribution. But, MED says, we would be subsidising that convention centre with $10m for starters. Plus marketing costs. And, then, ongoing subsidies both if convention numbers fall short and as a kickback when it does host conventions.
Key’s Waterloo
Written By: - Date published: 7:50 am, April 20th, 2012 - 62 comments
It’s a bit rich for Key to claim that there were no credible alternatives to the back-room deal with SkyCity when he shut down one alternative proposal and ignored four others. But now the facts are coming out. Key has “advised himself” into his worst public relations fiasco yet.
Key ups the ante on an empty hand
Written By: - Date published: 8:25 am, April 19th, 2012 - 77 comments
Back before John Key’s political nous deserted him (circa mid-November 2011), he would have run a mile from the dirty pokies deal with SkyCity. Instead, he’s claiming the dirty deal as his own and SkyCity’s chairman bragging about his access to Nat ministers. All to build a useless convention centre that will demand ongoing subsidies. Not worth the political capital.
SkyCity’s incoherent excuses
Written By: - Date published: 7:21 am, April 18th, 2012 - 82 comments
Yesterday we were treated to a bizarrely incoherent media blurt from SkyCity. I guess trying to defend the indefensible is taking its toll.
The PoAL dispute and facilitation
Written By: - Date published: 6:43 pm, April 12th, 2012 - 114 comments
Ports of Auckland has called for facilitated bargaining.
How might this play out?
King Salmon hand out
Written By: - Date published: 10:27 am, April 5th, 2012 - 16 comments
MrSmith looks at the massive expansion of aquaculture in the Marlborough Sounds that King Salmon is planning, aided and abetted by National’s ‘Environmental Protection’ Agency. King Salmon got a public hand-out when it was having trouble selling its product but now it wants more public property to make more salmon, the public gets no voice.
Joyce’s dirty deals: Skycity
Written By: - Date published: 7:19 am, April 3rd, 2012 - 40 comments
While Collins is busy backing herself into a corner over the ACC affair and has found herself footing the bill for vexatious lawsuits, Joyce, her main rival for the post-Key leadership, is cutting a sleazy deal with SkyCity: more pokies and relaxed licencing in return for an international convention centre we don’t need. Now we learn SkyCity is fostering problem gambling.
On incompetent management
Written By: - Date published: 9:03 am, April 1st, 2012 - 28 comments
Once upon a time, decades ago now, ports were run by a person called the Harbourmaster. He used to be a highly qualified and experienced Master Mariner, who had extensive knowledge of shipping and decades of experience, at sea and within the port. All this competence and experience came at a wage, at most, five times the average wage.
It’s safe to get off the fence now, Len
Written By: - Date published: 9:54 am, March 31st, 2012 - 50 comments
The PoAL management looks as incompetent and divided as the Nats after their ‘bullet-proof’ contracting out plans were shot down by the Employment Court and a director resigned publicly admonishment management’s strategy. Time to use that bully pulpit, Len. Say you have no confidence in Pearson and Gibson, demand they drop their plans, and get the port back to work.
Cost of the Ports of Auckland fiasco
Written By: - Date published: 11:03 am, March 29th, 2012 - 9 comments
Apparently the Auckland Council doesn’t know how much the POAL fiasco is costing. Rough estimates suggest that the cost is at least $400,000 a day, probably significantly more. No wonder the Council doesn’t want to know.
Workers’ victory over incompetent PoAL management
Written By: - Date published: 8:32 am, March 28th, 2012 - 43 comments
Ports of Auckland must pay the permanent workers among the union members it had illegally locked out. It’s only a partial victory for workers who want to work and have long-term job security, not just get paid for two weeks. But it’s yet another costly defeat for management. How long will they keep burning ratepayers’ money like this before the council acts?
Time for workers in the boardroom
Written By: - Date published: 8:20 am, March 27th, 2012 - 20 comments
German corporations’ boards are half employee representatives. This has stopped outsourcing, short-term executive thinking, outrageous executive/director pay and can only have improved worker relations. Their economy is sustainable and powering ahead out of the financial crisis through innovation and productivity. Could such an idea catch on here?
Local Board members call for council action on PoAL
Written By: - Date published: 8:40 am, March 24th, 2012 - 38 comments
We’ve received the following press release from Auckland Council Local Board members calling on Len Brown and the councilors to stand up to PoAL’s out of control management. The workers want to work and be more productive. The bosses want to screw them out of their pay to increase profits and are acting irrationally in pursuit of that goal.
What next at PoAL?
Written By: - Date published: 8:02 am, March 22nd, 2012 - 167 comments
Despite the court making them return to the bargaining table, PoAL Chair Richard Pearson seems to fail to understand some basic principles of employment law.
His comments on morning report suggest he’s either ignorant of some basic legal issues or still has no regard for good faith bargaining.
I’d suggest that either case indicates there’s a need for the council to step in and put some responsible adults in charge of this company.
China
Written By: - Date published: 9:40 am, March 13th, 2012 - 19 comments
There’s been much wailing and gnashing of teeth over Pengxin Shanghai’s attempt to buy the Crafar farms. Justified too. I want to take a step back and look at the strategy that China is executing and the imperatives behind it. Like any successful organisation, China is seeking to perpetuate its power. That requires securing access to resources. And China’s sitting on the low-cost cash to do it.
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