Posts by merc
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Hard News: A week being a long time in politics, in reply to Martin Lindberg,
Good point, what will be the incentives for power company owners to diversify, invest in alternate power. This is where the competitive, leave it to the market ideology fails, because you know, profit doesn't need to invent it own demise.
Govt. must take the lead in incentivising innovation, specifically energy generation, hell we all do. The share market model is also broken, just saying.
Sacha you are right, governance is the need, not being players. Radically I don't like the tax system we have that rewards depreciating assets, just one of my things. -
Hard News: A week being a long time in politics, in reply to Martin Lindberg,
Martin the price of power will go up a lot, of that fact I have no doubt. Oh and to scaremonger, the supply is sketchy at present (outages) I don't foresee that changing with private owners needing healthy profits before healthy lines.
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Hard News: A week being a long time in politics, in reply to Russell Brown,
I don't disagree, I am always careful with my wording, especially round Telecom whom I enjoyed a very good business relationship with. It was however an incredibly badly handled float and subsequent investment in infrastructure avoided while they played in the fields of the lord regarding investing in other areas (Telstra)...also culminating in their then departing CEO stating on record,
Yes we used deception to market our products.
Our SOE's are performing well according to Treasury, if Mr Key wants to ignore the (very expensive) advice of Treasury and simply wing it and gamble...I say we need laws to stop this radical shifting of successive Govt's policy (as noted in the child poverty doco last night).
We have way too much swinging from our Govt. I think the reason the worm loved Goff the other night was because he was finally mentioning the people, or as one commenter to the Herald put it, a society is not just about the economy, the economy is a facet of our society, but it must work for the totality of the people.
I cannot for the life of me understand how so self evident a message is so easily subverted.
We need the power stations to keep our most vulnerable warm, simple. -
Hard News: A week being a long time in politics, in reply to Sacha,
Very true because a decent memory would serve to highlight the debacle that is AirNZ. Even I can tell you that it is anti-competitive, needs to periodically fork out large sums of cash for new planes, AKL council have large shareholdings and in the airport so shun any thoughts of a second airport (Whenuapai), also Helen ran very close to accidental insider trading on the 850m bailout (Govts don't do shares so well, too ethical), also Govt owns all the lines (destinations), no other airline can effectively compete, so it's like Telecom was, a dead sitter for certain people to have shares in a Govt. guaranteed monopoly...if our sharemarket was a real one, it would have been in court years ago, it is not a real one and it has very low (cowboy low) levels of regulation.
Short story, Key is telling a very short story round a very Tolstoy length novel. We should be looking at how we even let these guys have this sort of discretionary power. Interesting Fay is back in the news too ay? -
Energy shares are what got the world, especially NZ in this mess in the first place. 1973, the so called oil crises, that has been proven to not have been. Prior to that energy stocks were not traded as a commodity.
http://en.wikipedia.org/wiki/1973_oil_crisis
I remember the storylines in NZ as we reeled from being bounced out of the EEC as well. http://www.teara.govt.nz/en/overseas-trade-policy/4 see Luxembourg AgreementShares are divided up in categories, our energy shares will be very valuable because we generate using hydro. The whole thing is so complex I am in awe how John has simplified it, stunned awe.
Later,
The projected sales proceeds would barely cover one year's capital expenditure by the Government.
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10767976 -
John Key compares selling power company shares to selling TradeMe shares, yes John /Jedi mind trick on self/, these are the same shares you're talking about.
BTW, if they sell all the power companies people are just going to keep lining up to buy their shares, yes they are #itshowitworkstofail
A 10% cap on share holding, why these shares are going to be so hot you could warm your tea with them.
Apparently Key is also going to sell shares in wastewater management, oh wait. -
The only reason you would sell a power company...oh hang on.
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OnPoint: Brain Drain Et Cetera, in reply to Hans Versluys,
What's wrong with our women? ;-)
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Blast you and your lingering knowledging ;-)
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I thought SPA stood for Stop People Anagramming?