In the wake of Winston "Baubles" Peters striving, and failing, to attain positive recognition from the press and public earlier on this week by gifting $158,000.00 of taxpayer funds used to fund his 2005 election campaign, to the Starship Children's Hospital, instead of paying it back like he should have, we are likely to see not only another grab at the headlines in the coming days by trying to flog off the illegitimate funds to another charity but a flailing of arms and lips over the latest bid for Auckland Airport.
The mental masturbation of this individual has exploded all over his own face.
Peter's railed against the two previous bids by Dubai Aerospace Enterprise and The Canadian Pension Plan Investment Board and will be grabbing it with both hands again next week and giving it a good tug for airtime.
This nitwit really doesn't understand that individual shareholders like myself have property rights and it ain't up to the likes of this closet Lenin lover to rain on my rights as a property owner.
He must be reminded by voters like you and me that grandstanding for airtime, just for the sake of exposure doesn't make you right or get you the exposure that you desire.
He is manipulative, selfish, arrogant, untrustworthy and an unmitigated liar.
Lets kick him under the kerb.
C Political Animal 2007
Related reading
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Sunday, December 16, 2007
Peter Bauble's giving him big trouble
Posted by Share Investor at 4:05 PM 0 comments
Labels: auckland airport, winston peters
Second bite at Auckland Airport by CPPIB could just fly
Well, I got the offer for my Auckland International Airport Ltd [AIA.NZX] shares from the Canucks', Canada Pension Plan Investment Board, in my mailbox yesterday.
This is the second bid from the Canadians.
Its pretty basic, you can either accept the offer partially or fully for your shares and vote accordingly for CPPIB to take just shy of a 40% stake in AIA and for a NZ$3.6555c cash consideration.
Seems allot lower value than some have put on the company but it is a reasonable advance on the current share price of $2.80.
Brook Asset Management and other broker institutions look likely to back the offer but the two large council owned parcels of shares and those of Lloyd Morrison's Infratil, which make up around a 30% shareholding are likely to sit on the other side of the fence.
There are also regulatory issues in the way in regard to Overseas Investment Office and IRD approval of tax related matters germain to the deal and political pressure from the usual numbskull's like Winston "Baubles" Peters.
This bid however is more likely to succeed than the bid from Dubai Aerospace International, which was shot down by the AIA board even before it could be put to shareholders earlier in the year because there isn't the Middle East/Muslim factor involved and the DAE bid involved more control with a bigger stake.
Obvious problems with a Muslim company owning AIA made a big influence on my decision then to back shareholders holding onto their shares although I wasn't opposed to another foreign owner making a bid.
Having seen the CPPIB offer it looks good compared to the alternative if one was to stay a shareholder.
CPPIB has changed the terms of its planned amalgamation with AIA (assuming it gets to approx 40 per cent). Stapled securities issued under the proposed amalgamation will now include a convertible note with a face value of $2.75 (previously $3.35) an ordinary share with a face value of $.0.7055 (previously $0.1055) and $0.20 cash (unchanged). The convertible notes will pay a 7 % coupon rate.
So there is more debt servicing for the new AIA model under the Canadian proposal and this is clearly going to drag on profit in the short to medium term until the various benefits they have mentioned under the new structure are bedded down and then realised.
The Canuck investment board sure are canny investors with a good track record,
$121.3 Billion At September 30, 2007 |
But it remains to be seen, if they are successful whether they can make their investment in AIA fly or if it is going to crash land.
There is going to be a AIA Board announcement and appraisal tomorrow(NZ Time) by Grant Samuel's, with valuation assessment and projections on passenger and aircraft demand.
Full CPPIB Offer
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From Fishpond.co.nz
A Perfect Gentleman: The Sir Wilson Whineray Story
c Share Investor 2007
Posted by Share Investor at 2:10 PM 0 comments
Labels: Auckland Airport Merger, The Canada Pension Plan Investment Board
Friday, December 14, 2007
Money Manager's first step gives investors the middle finger
Flick back to today and we find the on-going saga of Money Managers and their "First Step" product seems to have finally come to a soggy mess after being closed down in 2006.
Money Managers have told over 7000 investors they are unlikely to get all of their money back after First Step was liquidated, putting around $150 million of total funds invested at risk of being flushed away.
The NBR had this to say about First Step back in February 2002:
There is still no information on where the money finally ends up, what the rate of return is for those related parties, and the level of risk to which First Step investors are exposed.
Among the questions Mr Somers-Edgar has refused to answer:
Could that expertise not be provided within First Step, thereby providing more transparent accounting for funds?
Presumably Money Managers didn't inform clients of the concerns of the likes of the NBR and myself and continued to take in client's funds in a dishonest, calculated and deceptive way.
This part of the NBR article is revealing:
First Step's own financial statements showing related party lending at 29.58%.
One would have to ask, if there is interrelated lending from First Step, as there is with every other "product" Money Managers peddle-Doug is known as "Mr Clip, Clip" for every time there is an inter-company loan or transfer he clips the ticket with a fee-why don't the more profitable areas of the business lend money back to First Step to bail out Money Managers 7000 clients?
I know it is a dumb question but it had to be said.
I urge anyone considering investing in any of Doug Somers-Edgar's companies to take a deep breath, Google his name and see what you come up with and then make your decision.
What has Somers-Edgar been up to lately?
Doug has mysteriously disappeared from his former high profile, since stepping down from Money Managers in 2006 but seems to have been busy suing people for critiquing his investment style.
From
Owning a dodgy Ginseng business.
Don't forget Money Managers
Orange Finance collapse should turn investors red, with rage
Money Managers First Step saga: 3 Story wrap
Posted by Share Investor at 9:04 PM 0 comments
Labels: Doug Somers Edgar, Money Managers
Thursday, December 13, 2007
Waiting for the backlash
Emmerson, NZ Herald, Dec 12 2007- "Shallow and error-prone"
The Herald is facing a backlash from Helen Clark for their strong
stand against the Electoral Finance Bill, she doesn't like opposition
and the EFB removes that in election year.
The latest stupidity from the Labour/Peter's Government, Winston"Baubles" Peters, paying back ill gotten taxpayer money to a children's hospital instead of the Auditor General, is merely another in a long list of arrogant, unlawful, stupid, malicious and corrupt practices that Helen and her hangers on have foisted upon us over the last 8 long years.
I'm just wondering to myself, when is there going to be a backlash?
Where is the anger, the outrage, the venom, has Clark's regime breed the mongrel out of us?
There have been touches of it, with street protests against the Electoral Finance Bill, but those were tame. In Australia cars would be burned in the streets if their leaders tried this sort of fascist stuff!
We watched our judicial system tumble when Labour pulled down the august pillars of the Privy council appeals without a whimper.
Little was done when Kiwis' rights as parents to discipline their children by having the capacity to smack was removed.
Attempts at dissolving property rights, the intervention of Clark's nanny statists to tell us what to eat, watch, listen to, breathe and teach us "appropriate" ways to talk to those who offend against our persons least we hurt their feelings were met with a whimper of dissent, even from the National "opposition".
The arrogance of a leader and those under her who believe they are above those that they work for is truly mind blowing. Speeding through a small town at 170km per hr to go to a rugby game and blaming several policemen by allowing them to be charged. Mugabee and other tin pot dictators would be proud and we presumably were too because few bothered to raise a voice let alone a middle finger.
Making theft of taxpayer money to buy an election legal after the fact is clearly a breach of the very moral and indeed legal fibre that most Kiwis presumably live by and I would have thought that even the loony left who voted for Labour, NZ First, The Greens, The Maori Party, United Future and Jim Anderton, would have stood up to be counted, considering they are implicit in the crime of buying votes with stolen taxpayer money.
Surely the guilt must be eating away at their conscience?
The gutter snipe attacks in Parliament by sniveling little Stalin adherents, like Micheal Cullen and Trevor "The Bash" Mallard against the leader of the opposition, John Key, for dragging himself out of poverty and making a success of himself in the finance world and accumulating wealth is truly without parallel.
"Scumbag, scumbag, scumbag" "rich prick" sums up Cullen's attitude to those that might have worked hard and made money, his use of terms like this, especially in Parliament, show him for what he and his party are.
Arrogant, self serving, jealous of those that have done better and career politicians who wouldn't have a way of making a living outside government, a government department or a union and supporters seem to lap up this sort of childish playground stuff because they probably feel the same.
We shouldn't be hacked off and angry like Dr Cullen because an individual might have made a success of his life through hard work and accumulated wealth we should be angry at those who deride those successful people!
Is it not the Kiwi way to get pissed off when your freedoms are being chipped away or is it up to the likes of people like me to motivate you off your couch and get yelling "we are as mad as fuck and we are not going to take it anymore!!"
We have seen any possible anger subside come the last two elections because Labour have bought voters by promising taxpayer moola for their back pockets and any opposition is conveniently forgotten.
I will be here to remind you in 2008 to stay angry, if you are, and use that anger in a positive way by choosing not to vote for those that want your freedoms quashed, and not let you be tempted by my taxpayer dollars to dissipate that anger and vote for your wallet.
C Political Animal 2007
Posted by Share Investor at 11:52 PM 0 comments
Labels: 2008 New Zealand Election, protest