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| Thread ID: 93516 | 2008-09-20 22:43:00 | Vote National. | Metla (12) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 706631 | 2008-09-24 13:37:00 | Yeah capitalism in America is going well too, handouts for the rich in the form of a bailout after they strip the coffers due to their greed and avarice and then think the country can't run without the financial wizards running the place. Socialism for the rich, capitalism for the poor in America. |
zqwerty (97) | ||
| 706632 | 2008-09-24 19:41:00 | While I mostly agree with you if private enterprise is so great why have we as tax payers had to bail out the BNZ, Air New Zealand and the railways. I have possibly missed one or two. And who bailed them out?,your pals the government!! |
Cicero (40) | ||
| 706633 | 2008-09-24 22:17:00 | Air New Zealand needed to be bailed out because it was a victim of the Brierley Culture, minimal investment, lease everything, squeeze every dollar of profit out, even if it undermines the company - Once the Brierley Group had recovered all it could, the government or whoever else could pick over the bones. They were delighted to walk away. NZ Rail, sell it cheap, less than asset steel scrap value, sell it to an American operator, who would do minimal investment, milk every dollar it could out of the company, run the business down, and then walk away with their profits. Both these examples are the worst face of capitalism, and the Governments of the day were complicit in both these cases. |
KenESmith (6287) | ||
| 706634 | 2008-09-25 09:42:00 | And who bailed them out?,your pals the government!! You have been there before and I am not going to tell you again.:groan: |
mikebartnz (21) | ||
| 706635 | 2008-09-25 19:43:00 | You have been there before and I am not going to tell you again.:groan: Then read Ken #83. |
Cicero (40) | ||
| 706636 | 2008-09-26 02:55:00 | I'm not inclined to vote for a party whose leader can't remember how many shares he's owned. Martynz Why ??? I'm a very small player in the share market and have little idea of the actual names of the shares I own, let alone the numbers of each! If he traded them with inside knowledge not available to the rest of us, that would be an issue Media beat up again!! |
Happy Harry (321) | ||
| 706637 | 2008-09-26 10:04:00 | Then read Ken #83. Your rocket science degree is showing. |
mikebartnz (21) | ||
| 706638 | 2008-09-26 10:32:00 | Your rocket science degree is showing.:clap | Greg (193) | ||
| 706639 | 2008-09-26 13:17:00 | It's not all that amazing that the worst examples of NZ Corporate management feature privatised Government Trading Departments, and companies acquired by Brierley Investments - many of these feature both these factors. Air New Zealand under BIL was not only deliberately under-capitalised, but they also made the mistake of trying to fight well above their weight. They made the catastrophic mistake of taking over Ansett Australia, when Sir Peter Ables deliberately prevented a proper financial and technical due diligence, although Air NZ had board representation on Ansett they were denied access to the sensitive information that should have discouraged them from proceeding with the take over. Another classic stuff up by BIL was NZI Insurance. Unhappily there are two many sorry NZ stories of poor corporate management and creative accounting Remember NZ Forest Products, once the second largest company in New Zealand, and their very dubious dealings - Rada and Pro-rada may ring a bell to some. Chase Corporation - Large Capital borrowings secured against grossly inflated valuations of the groups property portfolio. The worst of these business outrages occurred under the Lange Labour Government, and it was mainly the little guy or the taxpayer that ended up taking the brunt of it. I can remeber Sir Robert Muldoons prophetic words"Those who treat the Stock Exchange as a TAB that they can't lose on, are in for a rude awakening" But even under this Great Regulator we had SecurityBank and JBL, to name but two. |
KenESmith (6287) | ||
| 706640 | 2008-09-26 13:52:00 | Wont matter who gets in , its not like they are going to be able to make drastic changes any way. I heard National are saying there will be tax cuts --- OK thats good - but where are they going to get it from - Our Hospitals, police, other public services -- It has to come from someplace - and you can sure as hell bet it wont be from their pockets.Hopefully from the Unemployment Benefit and other benefits that Labour has set up for people to sit around being lazy. |
Rob99 (151) | ||
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