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Larry's Memo: June 14

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By: Larry Williams | Thursday, June 14, 2012 6:57 PM

OCR

The Reserve Bank held the Official Cash Rate at 2.5%. No shock and awe about that one.

It may be June next year before the rate is raised, and if Europe crashes and burns we may even see another rate cut.

Europe is just so volatile. Like today's speculation that Greece will water down its austerity measures after the elections this weekend.

It’s a time bomb.

25 Percent Group

This is the launch to get 25 percent of women into leadership roles, specifically onto company boards.

It is not a call for a quota. It is a call for companies to wake up and climb into the real world.

I'm not convinced that our company boards are now dominated by the old gin swilling white male directors. But there is no question women are under represented.

The point is this, there is simply no reason or logic that women should not be in leadership roles.

Gender should play no part. Smart businesses understand this.

SkyCity

Opponents of the Government are all excited about the Auditor Generals investigation into the SkyCity convention centre deal.

This deal may fall over despite of the AG inquiry. Sky City might simply walk away. Who could blame them ?

Whatever the outcome the fact is the PM cut a deal. A very good deal. Even the competing bidders concede this. It's ironic that the other bidders don't seem to bothered by it.

If the SkyCity deal falls over then the 'convention centre' should be put on the back burner. Despite the jobs and the ongoing impact on the economy, which is significant, the taxpayer and ratepayer cannot afford the $350m. Period.

ACC

There are growing calls for ACC Minister Judith Collins to be sacked or resign.

Labour is leading the charge. They smell blood. They say it's time to stop the filthy strategy of fleecing ACC claimants. It's like the fleecing only commenced when Labour left office with ACC's book's in bad shape. They say that's all a lie however, it's interesting the turn around in ACC's books is in the billions.

Labour's plan is back to the future it seems where the fleecing was in reverse. The taxpayer was being fleeced. The ACC accounts in the red.

However there is no question that there is a culture within ACC that needs to be purged. I think the Minister has acknowledged that.

I don't like ACC, never have, but the problems we are seeing now is exactly what you get with monopolies. No competition. Complete arrogance.  Not in every case of course.

I'd flog off ACC - that would sort it.

 

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