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Larry's Memo: June 25

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By: Larry Williams | Monday, June 25, 2012 6:30 PM

SOEs 1

A Herald on Sunday poll shows that only 25 percent support the partial asset sales.

However, 60 percent would buy shares in the companies if they had the money.

70 percent of under 35s would buy shares if they had the money.

And here's the staggering thing: 52 percent of Green voters and 54 percent of Labour voters would buy shares if they had the money.

You would think that if you were against, you’re against. You have a philosophical objection to them being sold.

This is like the Maori Party, who is against unless iwi get a slice of the action.

What we could be seeing here is people against the sales only because they haven't got the money to buy any shares

 

SOEs 2

Winston Peters is going to buy the SOEs back.

Actually, no. He's going to take them back by force. Re-nationalize them all. Peters will rip the shares all back at the IPO price. Not sure what he's got planned if in fact the shares are lower than the IPO price.

You would also think that Peters would buy back the 25 percent of Air NZ that is not owned by the Crown.

This all looks like policy on the hoof to me.

The grand plan is to borrow from the Super fund. This fund actually invests at arms length from the Government. The fund decides where to invest, not politicians. Who says the fund would want to lend to the Government, or is Peters planning on forcing the fund to do so?

Part two of the grand plan is to borrow from Kiwisaver funds. These funds are made up of individual savers’ contributions. The Government has no control over where funds invest clients’ money. Who says Kiwisaver funds would want to lend to the Government at a low rate, rather than achieve greater returns elsewhere?

This is all dangerous stuff indeed.

It’s all absurd and surely has zero chance of ever happening.

 

Real Estate

The Real Estate Institute opposes changes to consumer law that would mean they have to tell the truth about properties.

The law would make it illegal for agents to make unsubstantiated claims.

By opposing such a thing as simply telling the truth, they have tarnished the entire industry and agents that are honest and do the decent thing.

I wonder if the fools at the Real Estate Institute realise just how stupid this makes them look.

 

Euro 2012

England got knocked out by Italy in a penalty shootout.

It was 4-2 in the shootout.

These shootouts are incredibly tense to watch. It doesn't matter who wins, there is always a feeling that there has been some kind of injustice done. Like it’s not fair.

It is fair, but it can be cruel.

 

All Blacks

The All Blacks demolished Ireland.

If you get beaten by 60 points in an international test, you have been embarrassed.

What that test showed us was not just how poor Ireland were, they couldn't back it up from Christchurch, but how much talent the All Black selectors have to play with.

A greater measure will be when they play Australia and South Africa - but there’s certainly no shortage of talent in the team.

 

Dotcom

The media continues to be infatuated with Dotcom.

He tweets - he's having a swim or whatever, and it’s front page news in the papers.

Unbelievably silly.

Photo: Winston Peters (Getty Images)

 

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