Posts by Gareth Ward

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  • Hard News: Debacles and Disgraces,

    And wow Tea Break (can I call you Tea Break? I like that), that's an incredibly topical find...
    Fay and Richwhite personally pocketed over half a billion dollars - at the same time as their minority shareholders lost $277 million.

    In one telling statistic, it found that our tax treatment of resarch and development - the creation of ideas - is such that every dollar spent by a New Zealand company on R&D costs that company $1.13. In Australian and the US, the figure is 89 cents. We operate the most discouraging regime in the entire OECD.

    people keep on voting for Winston Peters - who, incidentally, said this week that everyone knew his party was more likely to support Labour in a coalition that National - and then denied saying anything of the sort the next day. What a wanker.

    History repeats itself in so many ways. Fortunately not the last.

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Hard News: Debacles and Disgraces,

    That's right Angus - urgency for the THIRD READING. After years of public consultation, select committees and the like.
    Are you really that partisan that you see equivalence here?

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Field Theory: Wellingtonista and Want-mas,

    Peter - I have this (about $950 from Altura). My research at the time suggested it was the best under the heat exchange/domobar beasts:
    http://www.wholelattelove.com/Rancilio/silvia.cfm
    Great for a couple of cups at a time - I can better most cafe's on it for that. Multiple milky coffees, it's a bit too finicky.

    But you can possibly get into the E61 grouphead/double boiler stuff for under $1,500 now? Not sure...

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Hard News: Debacles and Disgraces,

    Thanks for reinforcing the point I/S was making Angus:
    From your link: Most of the bills being dealt with are non-controversial and will be sent to select committees for the next Parliament to deal with.

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Hard News: Debacles and Disgraces,

    Hotchin and Watson quite clearly treated Hanover as an almost-free way to raise bunches of capital for property deals that they:
    a. Wouldn't have got through traditional channels, and
    b. Take the full profitability of the capital raise as well.

    It was basically a personal bank. The issue is that the board where clearly governing with only those two in mind - not the debenture holders at all. While I'm no expert on our governance laws, it seems they possibly were obliged to - their responsiblity was to shareholders, not debenture holders.
    Which is an awful indictment partly on our governance laws but more so on our disclosure laws - it actually seems fair to me to allow Watson/Hotchin create a finance company that they own and direct and raises and loans cash as directed. But it needs to be absolutely transparent and clear to the debenture holders what it is they are putting their money into and that clearly wasn't what went down here.

    I hope your Mum manages through the financial difficulty Mr Brown.

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Hard News: Birth of the Nasty,

    That's alright simon, the chair of the select commitee will stick religiously to the terms of reference and dissuade any rogue politicking through his or her steely determination and political backbone of... sorry, what? Dunne? Really? Crap...

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Field Theory: Wellingtonista and Want-mas,

    Zapp Brannigan Ray Gun!

    Ooooh, that is nice and much cheaper than this beauty that I want-mas from Weta Workshop (USD5,000!)

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Field Theory: Wellingtonista and Want-mas,

    I'm considering celebrating Dies Natalis Solis Invicti this year - the pagan "birthday of the unconquered sun" which was celebrated on Dec 25th (the taekover of this date by Christians for Christmas is still contentious)...

    It just sounds like something I really should celebrate. The lack of conquering of the sun is a real highlight...

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Hard News: Birth of the Nasty,

    Are the DNA-storage laws being pushed through in the urgency package as well?

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

  • Hard News: Birth of the Nasty,

    Have just had a look through the Order Paper and the motion to establish the ETS select committee is in there with the suggested terms of reference - nothing about reviewing the science of climate change so that's a good thing at least. Perhaps "Don't be a Rodney" had an impact after all?
    The review does seem to be weighted to the "but we can't afford it" side of things though...

    Auckland, NZ • Since Mar 2007 • 1727 posts Report

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