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| Thread ID: 122029 | 2011-11-26 09:08:00 | So, who's buying which State asset? | KarameaDave (15222) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1245554 | 2011-11-26 11:21:00 | I see Don Brash has resigned!! A crusty old man shouldn't be in charge of a political party anyway :D |
pcuser42 (130) | ||
| 1245555 | 2011-11-26 19:56:00 | Governments should govern not hold assets. We are in the toughest times since 1929, sell the lot just like a company has to do thru tough times. |
prefect (6291) | ||
| 1245556 | 2011-11-26 20:34:00 | Governments should govern not hold assets. We are in the toughest times since 1929, sell the lot just like a company has to do thru tough times. Quite right. Sell the assets, and to sweeten the pot for the merchant bankers buying up at the fire sale the staff could be bound to the business at a nominal wage, or perhaps paid by vouchers redeemable at the company store. A Sicilian family business could be likely bidders for Cop-Corp. |
R2x1 (4628) | ||
| 1245557 | 2011-11-26 20:43:00 | I see Don Brash has resigned!! Oh the ignominy............ |
Cicero (40) | ||
| 1245558 | 2011-11-26 21:40:00 | Governments should govern not hold assets. We are in the toughest times since 1929, sell the lot just like a company has to do thru tough times.The profit from the assets are subsidising your taxes, if you sell 49%, do you think the Govt is going to do 49% less spending?? Nope, so guess what, joe public is going to have to be taxed more to make ends meet so either expect more assest sales to cover that once this round of dollars has been blown or expect a serious tax increase. Whats worse is that much of that 49% of profit will be going off-shore and not reinvested back in the country. The result is less money in the economy and higher unemployment. We may be in tough times, but its more due to bad management and selling what makes you money is not the answer, thats just more bad management. |
Iantech (16386) | ||
| 1245559 | 2011-11-26 22:30:00 | Whats worse is that much of that 49% of profit will be going off-shore and not reinvested back in the country. The result is less money in the economy and higher unemployment.The result is actually more money in the economy, because currently almost all of the interest on the debt required to hold those assets goes overseas. Any local shareholding, no matter how small, results in more money staying in NZ than the current status quo. Dividends paid locally benefit New Zealand much more than interest paid overseas. It should also be pointed out that there is significant local interest in buying shares in those assets, notably from iwi, ACC, KiwiSaver funds etc. All of those investors will be in it for the long haul too. Sure, some will go overseas, but it's unlikely to be much. As an example, look at where most Air New Zealand shares are held - Air New Zealand is partially floated in the same way as National proposes for the assets you're concerned about. |
Erayd (23) | ||
| 1245560 | 2011-11-26 22:32:00 | I see Don Brash has resigned!! I fail to understand why he should join Act in the first place. It's like making a fool of himself! |
bk T (215) | ||
| 1245561 | 2011-11-26 22:35:00 | Be prepared for another price hike of almost everything and anything except wages! | bk T (215) | ||
| 1245562 | 2011-11-26 22:43:00 | It should also be pointed out that there is significant local interest in buying shares in those assets, notably from iwi, ACC, KiwiSaver funds etc. All of those investors will be in it for the long haul too. Sure, some will go overseas, but it's unlikely to be much. That’s very good. :) So these people are going to buy back what they already own. :rolleyes: Sounds like false economy to me. :lol: |
B.M. (505) | ||
| 1245563 | 2011-11-26 22:49:00 | That’s very good. :) So these people are going to buy back what they already own. :rolleyes: Sounds like false economy to me. :lol:You're not thinking this through properly. The ultimate current owner of the assets at the moment is overseas banks who hold NZ government bonds. Ipso facto, not owned by New Zealanders, but still under the control of the NZ government provided they continue to honour the terms of their debt. The overseas bondholders are also the parties to whom the interest on that debt is paid. If shares in those assets are purchased by New Zealand individuals or organisations, then they become locally owned, unless that individual or organisation is using foreign debt to pay for those shares (which none of the organisations listed in my example would be doing). Which part of that is "buying back what they already own"? |
Erayd (23) | ||
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