The Mad Greens!!

This movie isn't a spoof, it is about brainless greenies crying and wailing over dead trees.

This is pertinent to New Zealand because we have the same sort of zealots in the New Zealand Green Party who want more tax from you for your heathen polluting ways!

Jeanette Fitzsimmons and her Luddite mates spearheaded the Emissions Tax Act that was rushed through under urgency earlier this week. Those toss pots in Labour like Helen Clark and David Parker follow close behind in the Green agenda.

It is law passed to heap all sorts of eco taxes on Kiwis, because of the myth that "our planet is warming" and human beings are responsible-this is a bald faced lie.

The extra taxes mean thousands of dollars of extra tax for kiwis every year, a stagnant economy and eventual economic collapse when the carbon trading market is exposed for the fraud that it is.

Watch the video and remember when you are watching it that the New Zealand Green Party is just as mad and also remember that these creatures also want your vote this year.

Pleeeesssse don't do it.

c Political Animal 2008

YOUTUBE: The Global Warming Scam

In the light of the New Zealand Labour Party and its supporters about to pass the Fraudulent Emissions Trading Bill into law over the next few days, here is some more evidence of the scam that the Global Warming religion is.

Watch this evidence from Lisa Michaels and have a look at The Great Global Warming Swindle as well then make up your own mind.

The vultures in the Labour, Green and NZ First parties want to tax you to high hell and use global warming as an excuse.

c Political Animal 2008

PRIMETV PRESENTS: The Great Global Warming Swindle

Sunday, 1st June at 8.30pm

Watch TGGWS on the net here

Global warming is the biggest threat facing the world today, but not in the way you may think. The Great Global Warming Swindle blows the whistle on the biggest swindle in modern history. The theory of global warming has been postured as fact and as such does not need to be questioned but what if man’s CO2 emissions were not the cause of the problem? In fact there is overwhelming evidence, and has been for some time, showing that it’s solar activity that determines temperature.

Many solar scientists attest to the fact that during the late 20th century we experienced the highest levels of solar activity for centuries. Global Warming is the morality tale of the decade – politicians are eager to pander to middle class green prejudice, and are throwing vast quantities of public cash into scientific research aimed at supporting an unsupportable theory.

It’s a tale of scientists fearful of speaking out, of upsetting the funding applecart and jeopardising the many thousands of research jobs generated for them by the global warming scare.

WARNING: Content May Offend


**NB: there is a one hour discussion of The Great Global Warming with skeptics and loony believers alike. Leighton Smith, talkback host on Newstalk ZB is one of the skeptics !

There have been attempts from some devotees of Global Warming to appeal to the Broadcasting Standards Assc to have the programme removed so nobody can watch it. This is typical of the GW zealots who dont want others to see the the other, more believable side to the GW "debate".


Related Political Animal reading

Unstoppable global warming
Global Warning: Tax Iceberg Ahead
Kyoto critic comes to town - Sunday Star Times
Carbon Credit trading puts Global markets at extreme risk
Of Tulip Bulbs and Tooth Fairies
Ponder the Maunder - 15 Yr old Kristin Byrne explodes the GW myth

c Political Animal 2008

The Great Global Warming Swindle[UPDATE]

Prime TV which is part of the Sky TV stable, is going to show the documentary "The Great Global Warming Swindle", the antidote to Al Gore's fictional "The Inconvenient Truth".

The major networks have been bereft of any balls, having had the best part of a year to play TGGWS but news producers have let it slip. TV One played Al Gore's ode to Michael Moore though earlier this year.

Our own Helen Clark and David Parker, Minister of hot air, should clear their schedules to watch, so they can redefine their religious zealotry towards those of us who already know it is one of history's great cons.

The Documentary, from Britain was screened last year to much acclaim.

Prime will show "The Great Global Warming Swindle" Sunday June 1 at 8.30pm.





The great global warming swindle - Part 2
The great global warming swindle - Part 3
The great global warming swindle - Part 4


Related Political Animal reading

Unstoppable global warming
Global Warning: Tax Iceberg Ahead
Kyoto critic comes to town - Sunday Star Times
Carbon Credit trading puts Global markets at extreme risk
Of Tulip Bulbs and Tooth Fairies
Ponder the Maunder - 15 Yr old Kristin Byrne explodes the GW myth

c Political Animal 2008

TIME Magazine slips inconvenient truths past it's readers

An absolute cracker of an editorial in a business paper that I picked up while in a recent visit to San Francisco.

The paper gives a more enlightened and investigative view rather than the left wing drivel that comes from the likes of the New York Times and Washington Post.

On issues like so-called climate change the papers writers are spot on. In reference to the latest dross written in this weeks TIME magazine the magazines authors leave out the inconvenient truth(thanks Al) about an article they wrote in 1974 about an impending ice age. They do not reference THAT article in their 2008 diatribe.

Politicians in New Zealand and globally would do well to pick up and read such fact based writing, for the fairy dust stuff they are basing economically disastrous rorts such as carbon trading and associated taxes is only going to see an end to our way of life as we know it.

Food shortages because of wasteful and environmentally unfriendly bio-fuel production is only the start.

By INVESTOR'S BUSINESS DAILY Posted Friday, April 18, 2008 4:20 PM PT

Media: Time calls green "the new red, white and blue" and likens global warming to the fight against Nazism and fascism. As it insults World War II vets, the magazine seeks to impose a tyranny all its own.

We never cease to be amazed by the inability of the left to feel shame and its lack of reverence for America and those who defend its freedoms, including the right to be stupid. The cover of the April 21 issue of Time, taking the famous Joe Rosenthal photo of Marines planting our flag on the blood-soaked island of Iwo Jima and replacing our flag with a tree, qualifies for obscenity of the year.

It echoes the greenie theme first advanced by Al Gore in his book "Earth In The Balance" that the internal combustion engine is the greatest threat in the history of mankind. Gore and Bill Clinton have both said that global warming is ultimately a greater threat than terrorism.
That, admitted Time managing editor Richard Stengel, was the thinking behind the cover story. "One of the things we do in this story," he said last week on MSNBC, "is we say there needs to be an effort along the lines of preparing for World War II to combat global warming and climate change."

This trivializing of the sacrifice of American blood and treasure to defend freedom ignores the fact that in World War II we faced a real enemy with a terrible agenda. The bombs that fell on Pearl Harbor were quite real, not the output of some badly fed computer model.
"Global warming may or may not be a significant threat to the United States," Tim Holbert, a spokesman for the American Veterans Center, told the Business and Media Institute (BMI): "The Japanese Empire on February 1945, however, certainly was, and this photo trivializes the most recognizable moment of one of the bloodiest battles in U.S. history."

It was not that long ago that the media, including Time, was singing a different tune and waging a different war.

An article in its June 24, 1974, issue entitled "Another Ice Age?" told of how, "when meteorologists take an average of temperatures around the globe, they find that the atmosphere has been gradually cooler for the past three decades."

Time spoke then of a "global climatic upheaval" and "climatological Cassandras who are becoming increasingly apprehensive, for the weather aberrations they are studying may be the harbinger of another ice age."

Reputable scientists and satellite and other observations have noted another cooling period under way since 1998. Declining solar activity in the current cycle correlates with other cool periods in Earth's history. It ties in perfectly with climate history that shows the warming and cooling of Earth is a natural and cyclical process.

A man who knows a little about fighting totalitarianism, Vaclav Klaus, president of the Czech Republic, wrote in the Financial Times last year:

"As someone who lived under communism for most of his life, I feel obliged to say that I see the biggest threat to freedom, democracy, the market economy and prosperity now in ambitious environmentalism, not communism. This ideology wants to replace the free and spontaneous evolution of mankind by a sort of central (now global) planning."

Lt. John Keith Wells, leader of the platoon that raised the flags on Mt. Suribachi, told BMI: "That global warming is the biggest joke I've ever known." He knows a real enemy and a real threat when he sees one.

Related Political Animal reading

Carbon Credit Trading puts markets at extreme risk

Unstoppable global warming

Global Warning: Tax Iceberg Ahead

Kyoto critic comes to town - Sunday Star Times

Of Tulip Bulbs and tooth Fairies

Ponder the Maunder - 15 Yr old Kristin Byrne explodes the GW myth

c Political Animal 2008

Unstoppable Global Warming

Something not reported in the mainstream media but it is another form of evidence that refutes man made global warming.


Unstoppable Climate Change

In this issue, NZCPR Weekly reports on implications from a New York conference on Climate Change (printer-friendly version>>>), Guest Commentator Czech President Václav Klaus explains that the global warming scaremongering is really an attack on freedom, the weekly poll asks NZCPR readers whether they agree or disagree with the government's proposed emissions trading scheme, and the NOTICEBOARD has details on how to win a copy of the New York Times bestseller "Unstoppable Global Warming: Every 1,500 years".

I have just returned from an historic meeting of more than 500 people from around the world who gathered in New York to address the question of whether man-made global warming is really threatening the future existence of our planet. In attendance were some 200 scientists, economists and climate authorities, highly respected experts who are standing up to defend science against the tide of political opportunism, media dramatisation, and crowd hysteria that is propelling the global warming debate. In doing so these scientists and economists are putting their livelihoods at risk - their research grants, tenure, and ability to get published have all been threatened. Some have even faced death threats for speaking out against the global warming alarmism that is sweeping the world.

As a New Zealander concerned that our country is on the brink of passing new laws to counter global warming that will have a devastating effect on our standard of living, I wanted some answers. In particular, I wanted to know whether there is any scientific evidence that human-induced catastrophic global warming is occurring, since that is the sole justification for the economically damaging policies that Labour intends to push onto the country. I would like to share with you what I found.

Scientists have shown that in the earth’s geological past, concentrations of carbon dioxide have been up to 20 times higher than they are at present and temperatures have been considerably warmer. The two most recent warming periods occurred during Roman Times from 200BC to 600 AD and Medieval Times from 900AD to 1300AD, when Greenland was green and grapes grew in England. The Little Ice Age followed.

Current temperature trends show a warm period between 1920 and 1940, followed by a cooling phase. There was a sudden warming surge from 1976 to 1978 and another in 1998. Since then the weather has been cooler. The year 1934 has emerged as the warmest of the 20th century. This, along with the evidence of those historical warm periods, confirms that man-made greenhouse gas emissions cannot possibly be the cause of the earth’s warming.

The very latest scientific research shows that the climate operates on a 1,500-year cycle and is driven by a complex interaction of solar activity including sunspots and cosmic rays, winds, deep ocean currents, as well as cloud and precipitation cycles. It is a “chaotic” system which is very hard to predict. That is why it is almost impossible to forecast weather more than ten days in advance. For the United Nations Intergovernmental Panel on Climate Change to pretend that their predictions of the earth’s climate in a hundred years time are accurate is fanciful, and for politicians to regulate their economies on the basis of such fantasy is grossly irresponsible.

The UN’s climate change panel – the IPCC – was set up in 1988 to assess the impact of human-induced climate change. This is a governmental body that was established to show firstly, that humans are causing global warming and secondly, to present the case for regulation.

In their latest report, released in 2007, the IPCC concludes that “most of the observed increase in global average temperatures since the mid-20th century is very likely due to the observed increase in anthropogenic greenhouse gas concentrations”. However, in the two years since the cut-off date for that report (May 2006), scientists have discredited that conclusion by showing that the IPCC used corrupted data, that proper forecasting principles were not followed, and that their statistical analysis was flawed.

A key problem that scientists have discovered is that the computer model outputs produced by the IPCC are at odds with observable results: in particular a central feature of the IPCC’s case for catastrophic global warming is a forecasted build-up of warmer air above the tropics, yet temperature records show that this is not occurring. Some of the excessive temperatures used in the IPCC’s models, which are presented as evidence of catastrophic warming have been traced to urban encroachment - temperature stations that were once located in the countryside are now surrounded by car parks, roads and other heat absorbing structures.

Scientists at the conference refuted emotive claims that polar bears are dying out due to a loss of habitat (claims which featured in Al Gore’s drama, “An Inconvenient Truth” that is now screening in schools). They showed that Alaska’s polar bear population is stable, and Canada’s has increased by 25 percent over the last decade.

Claims that the melting snow of Mt Kilimanjaro is caused by global warming were shown to be wrong. In fact, the snow has been known to be melting since 1880 - deforestation at its base has reduced cloud cover increasing exposure to the sun.

Predictions of dramatic sea level rises were categorically discredited. The sea has been rising by a constant 18cm a century (1.8mm a year) and is thought to be driven by the melting of the West Antarctic Ice Sheet. The fact that this started an estimated 18,000 years ago and is expected to continue for another 7,000 years, shows that humans are not to blame!

The President of the Czech Republic, Hon Václav Klaus, gave a keynote address at the conference and received a standing ovation. He is very happy that his speech is being featured as this week’s NZCPR’s guest commentary.

President Klaus, who spent most of his life under a communist regime, believes that global warming alarmism is essentially an attack on freedom. In his speech he explained: “Future dangers will not come from the same source. The ideology will be different. Its essence will, nevertheless, be identical – the attractive, pathetic, at first sight noble idea that transcends the individual in the name of the common good, and the enormous self-confidence on the side of its proponents about their right to sacrifice the man and his freedom in order to make this idea reality. What I had in mind was of course, environmentalism and its currently strongest version, climate alarmism”.

President Klaus went on to state that there are only three ways to reduce emissions of carbon dioxide: “we either have to stop economic growth and thus block further rise in the standard of living, or stop population growth, or make miracles with the emissions intensity”. He explained that the only realistic option is to stop economic growth and cut living standards, which is why he is so vocal in his opposition to the objectives of the IPCC.

Those New Zealand politicians who have jumped on the global warming bandwagon have been less than honest with us over the implications to this country. They have failed to spell out clearly enough that the main cost of joining up to the Kyoto Protocol (which, in spite of a 22 percent increase in our population, requires greenhouse gas emissions over the next four years to be reduced to 1990 levels) will be a dramatic cut in living standards.

Once the Emissions Trading Bill and the Electricity Amendment Bill are passed into law, a price for carbon dioxide emissions will be imposed on the New Zealand economy which will in effect tax growth and spread the costs across the economy. The lion’s share of that burden will fall on households.

Based on the government’s own predictions of $50 a tonne for carbon dioxide, petrol prices will rise by 12.2 cents a litre, and electricity by 20 percent. Once agriculture is brought into the scheme, farmers will be effectively taxed on the methane produced by their livestock with devastating costs – a 12 percent reduction in the payout for dairy, a 21 percent reduction for beef, a 39 percent reduction for sheep, and a 43 percent reduction for venison. The overall effect of this madness will be a stalling of growth and a decline in living standards.

So will our emissions trading scheme work? The experience of the European Union says not. The scheme has forced carbon-intensive industries to relocate to non-Kyoto countries, it has caused businesses to fail, and others to reduce their hours of operation. It has done nothing to reduce carbon emissions, but a lot to reduce economic growth. And all for nothing – there is no logical scientific reason to reduce greenhouse gas emissions. The only reason is a political one.

As acclaimed journalist George Will wrote in Newsweek last year, if nations go ahead and impose anti-global warming policies, “the damage to global economic growth could cause in this century more preventable death and suffering than was caused in the last century by Hitler, Stalin, Mao and Pol Pot combined.”

In a nutshell, the overwhelming conclusion from the Climate Change Conference in New York is that climate change is caused by natural forces not human activity. It is an unstoppable process and any attempts that are made to try to control it are futile, political and expensive.


Related Political Animal reading

Global Warning: Tax Iceberg Ahead
Kyoto critic comes to town - Sunday Star Times
Carbon Credit trading puts Global markets at exteme risk
Of Tulip Bulbs and Tooth Fairies
Ponder the Maunder - 15 Yr old Kristin Byrne explodes the GW myth

Links c Political Animal 2008

Global Warning: Tax Iceberg Ahead

Originally posted at the Share Investor Blog in June 2007 the piece below is also strongly politically slanted so I reposted it here. As stockmarkets take a dive in 2008 and global economies look increasingly shaky, the carbon taxes that Labour will foist on us are going to bite.

This is on top of increasing mortgage rates and runaway inflation fed by out of control Government spending over the last 9 years.


Global Warning: Tax Iceberg Ahead

It is like sitting on the bow of the Titanic while watching it hit an iceberg. We know it is coming but we don't yet know how big the iceberg is. Let me help you out dear reader.

If one thought the budget was a killer to business and the economy and it clearly is: increased compliance costs, contributions to employees' savings and the two headed monster the inflationary petrol tax-the 3c cut to business tax still puts business behind- then you have got another thing coming.

The biggest thing missing from the 2007 budget was an indication of looming carbon taxes and costs associated with Labour's lunacy over Kyoto and the global warming myth.

It wasn't even given the once over lightly, in fact it wasn't mentioned at all.

In what will be New Zealand business' biggest challenge in generations, global warming taxes, Cullen is playing fast and lose with our kiwi companies simply because they cannot plan with certainty of the future.

These costs loom large in board rooms around the country, only the NZX board room is relaxed because they look likely to benefit from implementing so-called "carbon trading."

The costs to business and the economy cannot be overstated. Businesses, and eventually individuals who emit carbon will be taxed on those emissions. How much we don't know but what we do know is that these taxes will flow down to the consumer and put a bite on the economy with such force that we may never recover.

Like the 2007 budget, the only winners from carbon taxes will be Governments and an army of bureaucrats who will administer the taxes from yet another acre of new Wellington office space.

The two business sectors with the most to lose will be tourism and agriculture, incidentally the 2 biggest earners of foreign exchange for New Zealand Inc. According to those with a green tinge to their blood, including Sir Richard Branson, airline travel is one of the biggest contributors to Global Warming, with the shipping sector and distance traveled by those ships to get goods to market from this part of the world 2 targets for the highest taxes and red tape due to the perception of their "global carbon footprint."

Already New Zealand's agriculture industry has been given a wake-up call over "food miles" and Tesco in Britain discouraging buying of NZ produce because of the distance it has come. Commentators such as Rod Oram are foisted on their own Global Warming crusades, when they on the one hand advocate for GW and carbon taxes(Oram buys carbon credits to off-set his "carbon footprint")but on the other hand moan when the likes of Tesco actually use the argument he advocates against him.

The tourism industry clearly faces a bleak future if these new taxes take a strangle-hold. The further away a destination, the higher the taxes will be on airfares, airlines and a whole host of industry related business. New Zealand is as far away as one can get from the bulk of the worlds population and it doesn't take Einstein to figure out who the biggest loser will be.

We must not confuse the valid issue of polluting our neighbourhood and planet with the Myth of Global Warming. There has been a turning point in the belief of man-made GW from former believers in the scientific world and the focus should now be to get back to reality and impetus on the real issues around us.

GW associated taxes will kill our already shaky economy and the irony is that the worlds biggest and real polluters will be the beneficiary of our Government's stupidity.


C Share Investor 2007 & Political Animal 2008

Carbon Credit trading puts global markets at extreme risk

Originally posted at my Share Investor Blog this piece is also a highly political one, and in an Election year voters need to be wary of our political masters and their views on the new global warming religion.

The New Zealand Labour party passed a law at the end of 2007 to allow the trading of "carbon credits" in 2008 and the legitimacy that it sees this trading give their lunatic stance on "global warming" will give them ample cause to bring even more new taxes in 2008 to "lessen the impact of our carbon footprints" and therefore have even more control over New Zealanders.

Man made "global warming" is a myth and it is a means used by politicians to suck your pocket drier than a dust storm in the Saudi desert on a 60 degree day in the full sun.

Nothing more.



Carbon Credit trading puts global markets at extreme risk

From Share Investor Blog

I'm going to kick 2008 off with a topic that is going to be a constant of mine this year, and in the years to come, because as far as economics, the impact on economies and business, it is going to be one of the biggest negatives we have ever faced.

The scourge of the global warming Nazis and their thirst for control, of individuals and nations, through new and increased taxes, in the name of decreasing your "carbon footprint", is going to have far reaching impacts into every aspect of everyday life.

The relevance of this to investing and my interest comes in the form of "carbon trading".

The introduction of a so-called "Carbon Trading" platform by New Zealand's NZX is likely to be the beginning of the end for this country's economy and global economies as we know them and there is a possibility that our sharemarket could be wiped off the face of the earth completely when the carbon trading market inevitably collapses.

Scaremongering and overstating my case to make a point?

I think not.

If we learn anything from history in regards to booms and busts and meaningless frenzies whipped up by market hysteria, we have only to look back to the most recent tech bust of 2000, where there was at least some substance and truth and real profit involved in a handful of tech companies, some of which still survive today.

We can also look back to the Dutch poppy boom around 400 years ago, where "rare" blooms were being traded for outrageous prices, well beyond any intrinsic value and of course just like the tech boom 400 years latter, much wealth was made by those that got in first but eventually things turned pear shaped, and most people lost, collectively, vast sums of money.

If we look at the carbon trading market, one can see the beginnings of a frenzy, one being whipped up by the likes of Al Gore, Hollywood and theorists who base their whole "global warming" theory on failed "science" and outright lies.

Al Gore is one of the leading proponents of carbon credit trading and has a huge financial interest in that market.

These early adopters are set to make billions on carbon trading markets and will be the only ones to profit from it.

The outfall when the latter come investors lose faith from trading "carbon credits", which they will because they are not only worth zero in dollar terms, but are a negative weight on economies and have no intrinsic value in themselves, will cause a crash in multiple markets not seen since 1929 and the 2000 tech plunge.

The trading of good stocks, property, land, businesses, minerals, commodities and the like, that have an actual value, and clearly while the prices of these assets will fluctuate in price, most provide a real income and have value. Carbon credits, which are and will be traded increasingly in the future, have no actual value if you don't believe the flawed concept on which they are actually based.

As most critical thinkers know, the concept of man made "global warming", the basis for it and the reasons it is being raised as a concept or theory, is a highly contentious one and the trading of carbon credits, in order to make money for the savvy, gives it a respectability it really doesn't deserve.

Just like the poppy rush of the 1600s, the great crash of 1929, the market meltdown in1987 and the tech bust in 2000, the coming carbon credit trading bust shares some of the reasons why markets crashed at these times.

These four market crashes all share an over exuberance and a market frenzy to a point where the value of the assets or shares traded far exceeded their real intrinsic value and these were the main reasons why the markets eventually collapsed.

The poppy trading, tech market boom and carbon credit trading share a similar trait in themselves.

In all three cases the values placed on "goods" traded often had no or little value from the get go.

Poppies traded 400 years ago were wildly inflated in price, the majority of tech company stocks traded had never made a profit, and in the carbon credit trading example not only does the "product" traded have no real value, it is actually of negative value, in a local and global business sense because it adds cost to running a business and will eventually be applied to every product and service that consumers buy and use on a daily basis.

From a carbon tax on gas at the pump, to food you buy in the supermarket, the new carbon taxes will be applied to everything and clearly it will cost us all more, all for no good reason, for that is what taxes do, they constrain business and economies.

So clearly the carbon credit trading part of the equation means you can offset those extra taxes forced on us by the global warming Nazis but the negative value of those so called carbon credits is self evident from my explanation that they are a cost not a productive commodity that is worth anything.

They are worth less than nothing!!!

Politicians and business "leaders" who have jumped on the carbon credit bandwagon, because they can see the dollars to be made and the control of the populace that extra taxes afford, are putting the global economy under threat. Ironic then that this is being led by a failed politician, Al Gore.

The past has left us littered with evidence that getting caught up in such bandwagons only leads to disaster.

To ignore the warning signs of history is to go forward blindfolded, deaf and with ones mouth shut and is clearly moronic to the ultimate degree.

In writing this piece I am constantly reminded by the old adage "...when one ignores history one is bound to repeat the same mistakes..." but we know what has passed and it is more like, "... repeating the same thing over and over and expecting a different result".

Either way the global economy is in for a huge shock when the carbon credit market implodes.

Resist the temptation to get involved this time.

Humourous look at trading in "dreams"


C Share Investor & Political Animal 2007, 2008

Carbon Credit trading puts global markets at extreme risk

I'm going to kick 2008 off with a topic that is going to be a constant of mine this year, and in the years to come, because as far as economics, the impact on economies and business, it is going to be one of the biggest negatives we have ever faced.

The scourge of the global warming Nazis and their thirst for control, of individuals and nations, through new and increased taxes, in the name of decreasing your "carbon footprint", is going to have far reaching impacts into every aspect of everyday life.

The relevance of this to investing and my interest comes in the form of "carbon trading".

The introduction of a so-called "Carbon Trading" platform by New Zealand's NZX is likely to be the beginning of the end for this country's economy and global economies as we know them and there is a possibility that our sharemarket could be wiped off the face of the earth completely when the carbon trading market inevitably collapses.

Scaremongering and overstating my case to make a point?

I think not.

If we learn anything from history in regards to booms and busts and meaningless frenzies whipped up by market hysteria, we have only to look back to the most recent tech bust of 2000, where there was at least some substance and truth and real profit involved in a handful of tech companies, some of which still survive today.

We can also look back to the Dutch poppy boom around 400 years ago, where "rare" blooms were being traded for outrageous prices, well beyond any intrinsic value and of course just like the tech boom 400 years latter, much wealth was made by those that got in first but eventually things turned pear shaped, and most people lost, collectively, vast sums of money.

If we look at the carbon trading market, one can see the beginnings of a frenzy, one being whipped up by the likes of Al Gore, Hollywood and theorists who base their whole "global warming" theory on failed "science" and outright lies.

Al Gore is one of the leading proponents of carbon credit trading and has a huge financial interest in that market.

These early adopters are set to make billions on carbon trading markets and will be the only ones to profit from it.

The outfall when the latter come investors lose faith from trading "carbon credits", which they will because they are not only worth zero in dollar terms, but are a negative weight on economies and have no intrinsic value in themselves, will cause a crash in multiple markets not seen since 1929 and the 2000 tech plunge.

The trading of good stocks, property, land, businesses, minerals, commodities and the like, that have an actual value, and clearly while the prices of these assets will fluctuate in price, most provide a real income and have value. Carbon credits, which are and will be traded increasingly in the future, have no actual value if you don't believe the flawed concept on which they are actually based.

As most critical thinkers know, the concept of man made "global warming", the basis for it and the reasons it is being raised as a concept or theory, is a highly contentious one and the trading of carbon credits, in order to make money for the savvy, gives it a respectability it really doesn't deserve.

Just like the poppy rush of the 1600s, the great crash of 1929, the market meltdown in 1987 and the tech bust in 2000, the coming carbon credit trading bust shares some of the reasons why markets crashed at these times.

These four market crashes all share an over exuberance and a market frenzy to a point where the value of the assets or shares traded far exceeded their real intrinsic value and these were the main reasons why the markets eventually collapsed.

The poppy trading, tech market boom and carbon credit trading share a similar trait in themselves.

In all three cases the values placed on "goods" traded often had no or little value from the get go.

Poppies traded 400 years ago were wildly inflated in price, the majority of tech company stocks traded had never made a profit, and in the carbon credit trading example not only does the "product" traded have no real value, it is actually of negative value, in a local and global business sense because it adds cost to running a business and will eventually be applied to every product and service that consumers buy and use on a daily basis.

From a carbon tax on gas at the pump, to food you buy in the supermarket, the new carbon taxes will be applied to everything and clearly it will cost us all more, all for no good reason, for that is what taxes do, they constrain business and economies.

So clearly the carbon credit trading part of the equation means you can offset those extra taxes forced on us by the global warming Nazis but the negative value of those so called carbon credits is self evident from my explanation that they are a cost not a productive commodity that is worth anything.

They are worth less than nothing!!!

Politicians and business "leaders" who have jumped on the carbon credit bandwagon, because they can see the dollars to be made and the control of the populace that extra taxes afford, are putting the global economy under threat. Ironic then that this is being led by a failed politician, Al Gore.

The past has left us littered with evidence that getting caught up in such bandwagons only leads to disaster.

To ignore the warning signs of history is to go forward blindfolded, deaf and with ones mouth shut and is clearly moronic to the ultimate degree.

In writing this piece I am constantly reminded by the old adage "...when one ignores history one is bound to repeat the same mistakes..." but we know what has passed and it is more like, "... repeating the same thing over and over and expecting a different result".

Either way the global economy is in for a huge shock when the carbon credit market implodes.

Resist the temptation to get involved this time.


Related Share Investor Reading

Mark Weldon Strikes out on Carbon Trading
Quote of the year
Of Tulip bulbs and Tooth fairies
Global warning: Tax iceberg ahead
Mark Weldon in two minds about carbon trading

Related links

TZ1 Market
Kristen Byrne - 15 year old schoolgirl debunks climate change myth

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c Share Investor 2007-2009

15 year old Kristen Byrne's take on "Global Warming"

A message for all our dopey politicians about New Zealand's moronic march towards self imposed economic disaster in the form of bending over to global warming, carbon footprints, Kyoto and Al Gore's growing bank balance.

The Left and the Greens especially, have us on a path, to NZ before the wheel was invented.

In case you haven't found it yet, let me recommend 15 year old Kristen Byrne's insightful website, Ponder the Maunder that puts all the GW bullshit into perspective.

Ponder the Maunder was an extra credit project for Honors Earth Science, Portland High School, by Kristen Byrnes of Portland Maine.

This report is a comprehensive look at the global warming issue without financial or political bias. It uses the most updated information provided by scientists and researchers and interjects common sense, an important component missing from the global warming debate.


Related 

Teenage Skeptic Takes on Climate Scientists : NPR

c Political Animal 2007

The Carbon Fairy has no clothes on

In what is clearly gearing up to be one of history's greatest financial explosions and implosion when it all inevitably collapses, is news today that the carbon trading "market" tripled in size to US$30 Billion last year.

With this market built on failed "science", lies and spruiking by the likes of wealthy green investors Al Gore and Leonardo Di Caprio, like all markets built on such flimsy backgrounds the money made, and there will be billions, will be made by those that get on the greenwagon first:

Since co-founding Climate Change Capital in 2003, James Cameron and his business partner Mark Woodall have turned their company into a powerhouse in the burgeoning global market in greenhouse gases. Driven by the Kyoto Protocol on global warming, an accord Cameron helped write, this corner of the derivatives arena is growing as never before.


Clearly, Cameron and Woodall are smart cookies but these self interested scam artists, who have written their own rules and now profit from them by "investing" other peoples hard earned cash into worthless carbon credits will be the first to withdraw their own funds when the climate change hysteria is revealed for what it is, that the sun simply getting hotter.


A Carbon footprint recently traded on Ebay for
US$1 Million.

I am old enough to remember similar things happening during the dot com era where mum and dad investors piled into worthless "businesses" and the big boys got out first before the truth about the bulk of silicon valley Internet companies hit the investment fan.

The same thing is going to happen with the carbon trading market.


Related Share Investor Reading

Rod Oram: On the Prius to Obscurity
Another reason to ignore Rod Oram
Rob Fyfe's "Environmental Extremism"
Carbon Credit Trading puts markets at extreme risk
Mark Weldon Strikes out on Carbon Trading
Quote of the year
Of Tulip bulbs and Tooth fairies
Global warning: Tax iceberg ahead
Mark Weldon in two minds about carbon trading

Related links

Kristen Byrne: Ponder the Maunder - a 15 year old schoolgirl debunks climate change myth

From Amazon

Global Warming and Other Eco Myths: How the Environmental Movement Uses False Science to Scare Us to Death by Competitive Enterprise Institute Buy used from: $3.77

c Share Investor 2007

Kyoto critic comes to town

The Sun is the Main reason for "climate change".

You are not going to hear much from the sniveling lefty media about this man except to critique and denigrate him for not jumping on the Global Warming bandwagon. Watch for snivellers with closed minds like Rod Oram from the New Zealand Business Herald whose sole obsession these days seems to be how to stop his carbon footprint from getting stuck in his mouth and using it to kick the more sensible among us that know that this whole GW nonsense is just that. I agree largely with Lawson except he is a bit lightweight on GW's proponents where as I wouldn't give them an inch.

They are NUTS!

Go here to View The Great Global Warming Swindle


C Darren Rickard 2007


Kyoto Critic Comes to Town

By JENNI McMANUS - Sunday Star Times | Sunday, 11 November 2007

Contentious climate change issues have been bumped to the top of the business agenda with the release of a consultant's negative report into the economic impact of the government's proposed emissions trading scheme.

Hard on the heels of the Castalia report and its view that the government is seriously underestimating the costs of Kyoto compliance, another strong Kyoto critic flies in to town this week.

Nigel Lawson, former chancellor of the exchequer in the Thatcher government between 1983 and 1989 and father of celebrity chef Nigella, is visiting New Zealand as a guest of the Business Roundtable. On Thursday in Auckland he will give the annual Sir Ron Trotter lecture, this year on the topic of economics and climate change.

Expect strong debate from an ex-politician not known for taking prisoners. Since leaving politics, Lawson has researched and lectured widely on climate change, his most recent contribution being work on a documentary called The Great Global Warming Swindle.

His message: the conventional response to global warming the bid to get global agreement among industrialised nations on reducing carbon dioxide emissions to a fixed, but arbitrary, level by 2012 is "absurd".

Even its strongest advocates concede the existing Kyoto agreement will do virtually nothing to reduce future rates of global warming, Lawson says. The US, the largest source of carbon dioxide emissions, has refused to ratify the treaty, largely because developing countries such as China, India and Brazil are effectively outside the process and determined to remain so.

What's being done with Kyoto simply isn't working, Lawson says. "There's a lot of talk and some things are in place in Europe, but while subsidies have been given to emitters (to help them adapt), they've done nothing to cut emissions. Politicians say greenhouse gases are the greatest threat facing the planet, but every year emissions get higher. I cannot see any other case where the difference between the rhetoric and the reality is greater."

Lawson argues adaptation to climate change is better than attempting to mitigate or reverse it.

Adaptation is cheaper, will more efficiently fix already existing problems (such as coastal flooding in low-lying areas) and will generally happen naturally, without government intervention, he says. Farmers, for instance, will show commonsense and change their crops, improve irrigation and cultivate areas once too cold to be economic if the climate gets warmer. Rich countries of the temperate world have an obligation to help the poor countries of the tropical world do whatever adaptation is needed, he says.

There is also the "just-in-time" solution of geo-engineering where pioneer work is being done at Stanford University to devise actions that could be taken quickly to cool the planet if necessary.

Lawson wants to see the debate shrunk to what he sees as its central focus: what has been the rise in global mean temperature in the past 100 years, why we believe this has happened and what the consequences are likely to be.

"The only honest answer is that we do not know," he says. "But it is very difficult to refine the issues because people feel so emotional. It is hard to get rational discussion going, but it is very important that we do.

"It's clear politicians think they're seen in a good light if they tell people they're saving the planet. It's wonderful grandstanding. But we simply don't know why climate change occurs and politicians can get very impatient with scientists who don't say anything definite, even when the science isn't certain." The difficulty is climatology is a relatively new and complex science "and neither scientists nor politicians serve either the truth or the people by pretending to know more than they do".

For example, many people probably aren't aware that at times during recent history the world has been warmer than at present. And while atmospheric concentrations of CO2 increased by 30% during the 20th century, global warming has occurred only in fits and starts. In fact, says Lawson, it ceased in 1998 and is not expected to resume until 2009.

Despite his views, he says he could live "up to a point" with cuts in CO2 emission levels. Even a carbon tax would be acceptable, providing the revenue was used to cut other forms of tax. But that's a different matter from putting the entire economy at risk with complex emissions trading schemes a point taken up by economist Alex Sundakov in the Castilia report. No scheme will be politically sustainable if the relative costs and benefits are not well understood and accepted by the electorate at large, Sundakov says.

Any major cuts in NZ emissions are expected to be very costly, despite government claims to the contrary, because of our high economic reliance on emissions-rich activities. Official estimates in the US and Canada put the cost between $5000 and $10,000 per household.

Nor does Lawson agree that we must do whatever it takes to avert the possibility of large-scale climate catastrophe. A number of other catastrophes are also possible, including another ice age, the prospect of nuclear war and the growth of terrorism "in an age where scientific and technological developments have brought the means of devastation within the reach of even modestly funded terrorist groups".

"Above all," he says, "in a world of inevitably finite resources, not only can we not possibly spend large sums of money on guarding against each and every possible eventuality in the future, but the more we do spend on this, the less there is available to deal with poverty and disease in the present."

C Sunday Star Times 2007

Global Warming: Power to the People

The grab for more taxes by the Labour Government increased this week.

In the week where a NZ$8.7 billion dollar surplus for the last financial year was announced, it seems lunacy that the nanny state would want to steal even more of your money right out of your pocket.

But yes siree Darryl and Sharon New Zealand, you are about to be right royally frisked again because the power you are using is not "sustainable" and therefore you will be taxed to pay for the damage they say you are doing to the environment because of it.

You see the Labour Governments latest tax is being foisted upon us in the form of "fear" taxes, new taxes that will come about because of the left and Greens adherence to the lunatic man made "global warming" lie.

I'm not here to argue the merits of the man made "global warming" movement because quite frankly it has none.

The "science" on which it is based is severely flawed despite what the leftist politicians, green freaks and the self proclaimed inventor of the Internet and Nobel Prize winner, Al "I'm running for President " Gore tells you.

For goodness sake do some objective reading people!

The sinister undertone of all this green washing from the GW proponents is that it is a push for imbecile individual knuckle draggers like Gore to make money out of the fear and lies that they are spreading and for Governments around the world to raise taxes.

It just so happens that Helen Clarke, the Prime Misinster of New Zealand and her Sisterhood, through the bequest of Jenette Fitzsimons from the Green Party, because they hold the balance of power, seem to be at the vanguard of this movement to tax New Zealanders for living their normal lives.

New Zealand is going to have to rely on wind power and solar energy to power our economy, according to David Parker, the Chief idiot and slopey fore headed one charged to drive Kiwis back to the middle ages.

According to Parker, we need to be driving electric vehicles, using public transport and doing away with old appliances.

Jenette Fitzsimons goes a step further and wants the size of large screen TVs restricted.

Remember these are the people who like to tell us what to do and have changed laws to get us to eat, drink, smoke,watch and listen to what they want us to.

Restricting our right to parent by removing our ability to lightly smack indolent children its another moral crime they are guilty of.

Certainly, Jenette Fitzsimions lack of morals and boundaries also crosses into the financial sphere.

We have our very own New Zealand Al Gore in Fitzsimons.

While Gore is making hundreds of millions of dollars from his ownership of a fund that puts its money into the carbon free environment that he is slavishly advocating, our little Jenette is doing similar stuff here in NZ.

You see Fitzsimons is the 6th largest shareholder in a company called Windflow Technologies, a company that is developing the very technology that she advocates for and has changed New Zealand laws to benefit her company.

Like Gore, Fitzsimons doesn't make her biases clear when discussing the mushrooming of these visual polluters all over our countryside. We cant have Shania Twain having her house show on a ridge near Queenstown eh Jenette, but we can have these monstrosities covering the nation just so you can get rich from your shareholding in WT.

The Green taxes that Fitzsimons and the Clark sisterhood want to impinge on Kiwi individuals isn't about "saving the planet" or reducing pollution.

It is actually about wealthy green tinged individuals making money, state control and raising taxes to re-distribute them to those individuals too lazy to work and to those 3rd world countries who form a bloc in the UN, that want to lay their hands on Western nations money because they have successfully developed their economies and the 3rd world hasn't.

Aunty Helen, Fitzsimons and their lap dog David Parker clearly want to punish those individuals in society that have made a success of their lives through hard work and innovation and NZ as a whole.

Of course, that is the way of socialism an ism that they all slavishly follow.

The lack of a spiritual and religious base for these 3 collectives and their mates is being fulfilled by the new religion of worshipping at the foot of the Global Warming crusade.

Like all religions the GW movement is based on fairy tales, superstition, fear, greed and jealousy and it is going to end in confrontation.

The sensible among us mustn't be silent against the bias of left wing media that would have you believe that GW is an issue. It clearly isn't.

Let the war begin.


c Darren Rickard 2007

Share Investor's Friday Free for all: Edition 7

The Dominoes keep Falling


The week kicked off with yet another finance company meltdown.



Geneva Finance, definitely not Geneva based, stopped lending money to clients.

A few weeks ago there were warnings about this company and latter on this week its credit rating was dropped by Standard and Poor's from B+ to B-

Standard & Poor's defines a B- rated company as one able to meet its financial commitments but vulnerable to adverse business, financial or economic conditions, doesn't look good.

Meanwhile, Nelson finance company LDC and its 700 odd investors could get up to 90% of their funds returned, company liquidators have announced.

This is one of the better returns from the 10 finance companies that have collapsed over the last 18 months or so.

Bridgecorp investors, who between them risk losing up to half a billion kiwi dollars have decided to discuss the merits or otherwise of taking legal action against Bridgecorp and financial advisers who gave clients the thumbs up to plunge their bucks into this rotting corpse.

Finally, Hanover Group, one of New Zealand's biggest finance companies, seems in a huge hurry to quit an apartment building that it helped finance and that has got into difficulty.

Instead of flicking off the 92 units individually and getting more money back, they are forcing a mortgagee sale and risk getting roughly half the proceeds that they could.

The problem with the most recent finance company collapses has been liquidity and cash flow issues.


A Slap on the Back



The New Zealand franchisee of KFC, Pizza Hut and Starbucks, Restaurant Brands(RBD) this week announced a net profit of NZ $4.5 Million.

This is up nearly 100% on last year, as the company barely managed a positive result in 2006.

Revenue increased marginally on last year

Much has been made by management of the KFC "transformation" through store refurbishments but the head chickens at RBD still have a long way to go to get close to sales figures from its listed heyday.

Starbucks continues to plod on without contributing to the bottom line but Pizza Hut has slowed the downwards flow in sales for its round dough making stores.

I was expecting better and it doesn't look good for next years announcement in May.


The Power to Succeed


Another nail in the coffin for New Zealand's economy was rammed home this week when the climate change disciples from the Labour Party and Green Party announced that this country would no longer be able to build fossil fuel power stations for the next 10 years.

We are currently short of reliable power sources for a much needed expansion of our economy and today's announcement means that we now risk current industry and put the price of power to consumers and business up simply because worshipers at the climate change altar want to collect more taxes.

Business especially needs the surety of a sustained supply of electricity to allow expansion of their business and the confidence to invest.

Look for more manufacturers to head across foreign waters because of this decision.

Nuclear energy would be the answer to this problem if it actually existed but the n word will not be discussed by the Gore-ites in the Labour party.


NZX Market Wrap



The NZSX-50 index, down earlier in the day, rose 9 points to 4305.62. Turnover totalled $NZ95.9 million, with falls outnumbering rises 54 to 59.

Telecom (TEL) fell 6c to $4.44, while Fletcher Building(FBU) jumped 23c to $12.78, and Contact Energy (CEN) rose 22c to $9.57 in the wake of the Labour Government's new energy strategy released yesterday.

Fisher & Paykel Healthcare(FPH) was up a cent at $3.30 and its sister company Fisher & Paykel Appliances(FPA) up 5c at $3.70.

Sky TV (SKT) lost 5c to 570.

Among companies under M and A speculation, The Warehouse(WHS) was up 5c at $.548, casino company Sky City Entertainment(SKC) was even at $5.28, and Auckland Airport(AIA) climbed 3c to $3.10.

On the downside were Michael Hill(MHI),down another 14c to $11.26 following disappointing quarterly sales figures yesterday, and tech company Rakon (RAK) 12c lower at $4.80 in reaction to the higher currency.

Freightways (FRE) (POT) rose 5c to $7.10, Pumpkin Patch(PPL)was up 8c at $3.91, 

Mainfreight(MFT) rose 5c to $7.05, Port of Tauranga(POT) gained 2c to $3.13, and Tourism

Holdings(THL) was up 4c at $2.31. The influential Fund Manager, Fisher Funds, from Auckland's 

North Shore, sold down Freightways and purchased more Pumpkin Patch.

Infratil(IFT) fell 4c to $3.05, fish exporter Sanford(SAN) fell 3c to $4.27, Steel & 

Tube(STU)lost 3c to $4.41, and Hallenstein Glasson(HLG) the clothing retailer was down 2c at $4.53.


NZ Dollar Wrap

Reuters currency rates (12.07.07) NZ Time
(5pm today 5pm yesterday)

NZ dlr/US dlr US77.02c US76.42c
NZ dlr/Aust dlr A85.52c A85.05c
NZ dlr/euro 0.5427 0.5398
NZ dlr/yen 90.41 89.62
NZ dlr/stg 37.89p 37.43p
NZ TWI 72.31 71.79
Australian dollar US90.07c US89.86c
Euro/US dollar 1.4192 1.4158
US dollar/yen 117.36 117.19




c Share Investor 2007

Share Investor's Friday Free for all: Edition 4

Safety in Numbers

The week began with Rabobank defying the depressed debt market raising NZ$900 Million after initially wanting to raise $400 Million. It just goes to show that quality wins out every time and money that has been pulled from shaky finance companies has found a new safe home.

Pumpkin Patchy

Pumpkin Patch (PPL) the trendy New Zealand children's clothing retailer, reported a full year 2007 profit slightly down for the 2007 year to $27 million. Revenue was up strongly but expansion costs, high interest rates, wages and other fixed business costs rose.

The Patch is bullish on expansion, especially in the USA and is expecting a better contribution from New Zealand and Australia next year.

10-4, looks like we got a convoy

Mainfreight (MFT) the ever growing New Zealand trucking company this week plunked down US $53.7 million for the US international freight forwarder and logistics provider, Target Logistics which is publicly listed on the US Stock Exchange.

Mainfreight Boss Don Braid said the transaction would provide Mainfreight with a foundation for further growth in the US and international freight markets.

The purchase will be earnings positive and continues the companies wish to grow the company substantially by clever acquisitions and organic growth.

Sales grow slowly at fast food company

Restaurant Brands (RBD) the operator of KFC, Pizza Hut and Starbucks had a better sales report this week.

The company today reported second quarter sales across its three New Zealand businesses up 5.8 per cent to $93.6 million, with same store sales up 5 per cent.

KFC sales were up 11.7 per cent for the 16 weeks ended September 10, compared to the second quarter a year earlier. Despite recent stellar sales increases KFC sales are still well off historical sales figures when adjusted for inflation.

Starbucks Coffee was up a steady 6.7 per cent for the second quarter from a year earlier, while Pizza Hut began to improve but still produced an overall sales decline of 7.5 per cent.

It looks like the profit announcement in October, which should be allot better than last reporting, will push the share price closer to the $1 mark, the market has valued the stock at less than a buck for most of the year, don't count your chickens yet though.

Can Canadians Fly?

Not content with just flicking through and buying Telecom's Yellow Pages, another Canuck pension outfit is in town to make a bid for New Zealand's largest airport.

The Canada Pension Plan Investment Board says it has come up with three options for acquiring a significant minority stake in Auckland International Airport Ltd(AIA)

They include an all cash option of $3.70 per share.

The other two options, which would provide a value of up to $3.90 per share, would involve a combination of cash and the issue of new securities that provided enhanced returns while preserving the investment grade rating of AIAL.

The market saw the shares increase in price to around $3.30 on the day of the announcement so it has probably factored in a likelihood that this deal isn't necessarily going to fly.

In my opinion, local and central government opposition will sink any possible deal.

Shame really, while Canadians are a little odd at times they certainly get my approval over AIA's last suitor Dubai Aeronautical Enterprise.

Time for a climate change

The nonsense that was the New Zealand Labour Party's Carbon Trading and tax plan to ameliorate the non-existent "global warming" problem hit Kiwis right between their wallets on Thursday.

The thirst by socialists for more of our tax money was outlined by David (eyes closed) Parker the Climate Change Minister.

Consumers will pay more for oil, gas, electricity and just about everything else we buy, unless they are low income earners and then the middle classes will simply subsidise these individuals so they can continue to pollute.

I am reminded of the failure of "fairy dust" schemes like carbon trading that have come crashing down in the past.

From the great tulip bulb craze in Europe in the 1600s to the Carbon Trading scheme invented by Enron in the 1990s. Both of these failed, miserably.

The taxes placed on our economy with the excuse of global warming by the present government are likely to do the same.

Waiting for the Ace Card

Casino and cinema operator SkyCity Entertainment Group(SKC) has received a takeover bid from an as yet unnamed party.

Seems an odd way of informing the market without really saying much at all!

The offer would have to be significantly over the current share price of $5.27 for my good self to accept any offer as it is part of my long-term portfolio and has been for 5 years and I own a very large parcel. In fact I went on a buying spree this week and bought some more SKC, as well as a significant parcel of The Warehouse(WHS) for the large dividend payout and imputation credit feast.

If you are a short-term investor you should probably run for the hills today but if you have bought this company as an investment then I wouldn't sell for less than 8 bucks, not that the offer is going to be this high.

There were rumours of Tattersalls and Tabcorp being the suitors but Tabcorp has scotched their inclusion. Does such a quick denial have any deeper meaning?

Thought Id just put it out there.

NZX market Wrap

A huge rise by takeover target Sky City(SKC) and a solid Fletcher Building(FBU) lifted the benchmark index today, outweighing a 3 per cent slide in top stock Telecom(TEL)

Sky City said it has received an indicative and confidential approach from a party interested in acquiring all its shares.

The news boosted the casino company's stock to a record high of $5.56, before it closed up 22 per cent, or 95c, at $5.28 on turnover totalling $96.8m.

Fletcher Building announced today that it had raised over $300 million in debt to cover bridging loans used to fund the recent Formica Corp purchase. Fletcher Building rose 3 per cent, or 40c, to $12.80

The NZSX-50 index ended the week up 0.6 per cent, or 24.28 points, at 4231.16 on turnover totalling $231.5 million.

Top stock Telecom(TEL) was down 13c, or nearly 3 per cent, at $4.29. Contact Energy(CEN) fell a cent to $9.33, Fisher & Paykel Healthcare (FPH) lost 4c to $3.45, F&P Appliances fell a cent to $3.57 (FPA) and Auckland Airport(AIA) lost a cent to $3.24 after rising strongly this week on a Candian pension bid for the company.

Sky TV (SKT)was up 4c at $5.52, Air New Zealand (AIA)rose 3c to $2.22, The Warehouse(WHS) gained 3c to $6.08, Infratil(IFT) was down 2c at $2.98, and Hellaby(HBY) was up 10c at $2.90.

Freightways(FRE) fell 2c to $3.68, Sanford(SAN) rose 4c to 4$.55, and Nuplex(NPX) was up 7c at $7.02.

Guinness Peat Group(GPG) shares fell 4c to $1.89 after the lifting of its trading suspension.

GPG recently quit its $3.62 per cent stake in NZX at a market discount of $9.50. NZX shares closed down 10c today at $9.50.

Disclosure: I own AIA, PPL, SKC, MFT shares

C Share Investor 2007