Posts by Sacha
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Off-topic: Brian Gaynor offers a measured but cutting analysis of Mark Hotchin's recent "it wasn't me" media tour.
The basic problem with Hotchin is that he promised too much and failed to deliver. But he blames everyone else for Hanover's problems and continues to paint himself as a white knight.
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It is also illusory for Hotchin to claim that for every $1 that went out $2 went in.
The reality of the situation up to June 2008 was:
Watson and Hotchin companies took $117.8 million out of Hanover Finance in related party loans.
They then received dividends of $45.5 million.
They paid back related party loans of $68.5 million.
Thus Watson, Hotchin and their associated companies took out $163.3 million and put in $68.5 million during this period, a far cry from Hotchin's claim that they put in $2 for every $1 they took out.
It is wrong to claim that paying dividends and depleting shareholder funds has no impact on a company if this money is used to repay existing loans.
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Hard News: What Now?, in reply to Sam F,
Probably also some "but Wellington released a list" envy.
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Hard News: What Now?, in reply to Craig Ranapia,
determined by local government themselves
Wasn't that the stumbling block for some in central government (across the spectrum)? Perhaps it has changed.
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Hard News: What Now?, in reply to Craig Ranapia,
All good. I can see how that could be assumed.
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Herald has a solid 3 minute clip of Key being interviewed about the response in the eastern suburbs - same media scrum that both TV channels excerpted in their stories. Some good questions asked by assorted journos. You can judge the quality of the answers.
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Hard News: What Now?, in reply to Craig Ranapia,
Are you saying Brian Rudman opposed the regional fuel tax?
No because that wouldn't be true and we both know it, so I'm not going to fall into that perjury trap.
Genuine question - not like I've read everything the man has written.
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Hard News: What Now?, in reply to Craig Ranapia,
Are you saying Brian Rudman opposed the regional fuel tax? And if so, how does that affect his ability to observe that English and co seem pretty relaxed about $14b of top-skewed tax cuts but making hay about $5b from #eqnz?
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Hard News: What Now?, in reply to Sofie Bribiesca,
hope that you can understand if some feel the need to air their frustration, that it too could be of benefit to some
Eh? Airing frustration is great. Excuses from *politicians* if that needed clarifying.
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Bound to happen sometime - #eqnzpickuplines
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Peter Hyde deserves to feel proud for helping galvanise attention onto the East - even though we're mainly hearing excuses about why it has taken so long.