Winston Peters got secret donations from Owen Glenn

Ahh, Tony Veitch has had his 15 minutes of fame and now its back to politics for Journos at the NZ Herald.

Winston "Baubles" Peters has probably been caught our lying, again. When evidence uncovered in emails from John Glenn suggest that Peters got secret donations from him. This was in addition to hushed donations made by Glenn to the Labour Party before and after the 2005 election.

Peter's denials of such donations previously were strident and to the point. NO he didn't get money from Glenn.

Controversy over theft 0f $158,000 of taxpayers money still surrounds Peters and his party. He still refuses to pay it back from where it came. The taxpayer.

Ahh, come back Tony all is forgiven.

5:00AM Saturday July 12, 2008
By Audrey Young

Photo / Mark Mitchell

Controversy over secret political funding is likely to be reignited by private emails that suggest Labour's biggest donor also gave money to NZ First.

The emails suggest repeated denials by Foreign Minister Winston Peters that his New Zealand First Party received a donation from businessman Owen Glenn appear to be incorrect.

A private email from Mr Glenn to his public relations man in New Zealand says he did give the party a donation.

Mr Peters was last night sticking by his story, saying through a spokesman that Mr Glenn had not given the party money - "he did not" - but he refused any other comment.

The conflicting stories raise credibility issues, as Mr Peters produced a large "NO" sign at a press conference soon after questions of a donation to his party arose.

Continued

Related Political Animal reading

Snouts in the trough bent out of shape
The Owen Glenn story: Singing the same tune but hitting a bum note
Labour Party Election funding murky at best

c Political Animal 2008

Tony Veitch and Fox stories cunning diversions

Although muck raking by the Labour Party has become something of an art form of late, and will no doubt become something of a masterpiece as the 2008 Election draws nearer, the distribution of news of the latest "wife-beating" scandal to hit New Zealand, Derek "The Muss" Fox, after Tony"left handed" Veitch, by a Labour staffer seems more of an inside job within the racist Maori Party, rather than another hole being dug by Ms Clark and her minions.

Besides the bloated porker Parekura "I want another sandwich" Horomia being threatened by Derek "I hate whitey" Fox and his running against Labour's Horomia, Labour has little else to gain by making this sort of move.

I could be wrong though, Labour have been on a suicide mission recently with bad news coming out every day from gaffs by ministers and bureaucrats. Only the Tony Veitch and Derek Fox stories have taken Ms Clark's crumbling goverment off the headlines as mainstream media "journalists" scramble for the salacious stuff.

These stories are indeed well timed and if one were a conspiracy nutbag, one might think of other motivations for people currently in power to leak these kinds of headline grabbing sagas.

It is classic Labour Party stuff.

The polls toll for Labour
Lets take a break
Is a coup against Helen Clark's leadership likely?

c Political Animal 2008

Why did you buy that stock? [Hallenstein Glasson]

A 30% drop in profit forecast for the full year to August 1, put Hallenstein Glasson [HLG] in the business papers today but the company has been through bad economic times before and weathered them well.

In this Why did you buy that stock? we will first look at what management do to navigate their business through the rocky waters of the recession New Zealand is now facing.


Why did you buy that stock?

Why did you buy that stock? [Briscoe Group]
Why did you buy that stock? [Fisher & Paykel Healthcare]
Why did you buy that stock? [Pumpkin Patch Ltd]
Why did you buy that stock? [Ryman Healthcare]
Why did you buy that stock? [Michael Hill International]
Why did you buy that stock? [Mainfreight]
Why did you buy that stock? [The Warehouse]
Why did you buy that stock? [Goodman Fielder]
Why did you buy that stock? [Auckland Airport]
Why did you buy that stock? [Sky City Entertainment]


The company's ability to maintain appropriate stock levels is one of the keys to retailing in general and Hallenstein Glasson do this better than probably any other New Zealand retailer.

Their focus on cost control has been one of the hallmarks of Hallensteins for the 6 years that I have been following the company and one of the main reasons for my recent purchase of the stock.

Their clothing is something my wife and I both purchase, it is generally well made, designed and fits its customer demographic year after year. Not as easy as it sounds but it requires the chain's buyers to keep abreast of changing trends and plan ahead well in advance.

Their marketing also impresses me. It is clever, witty and once again fits its customers well. It has developed its branding to perfection and management clearly know their customer and what they want. A basic for any business but in clothing retailing this is a more crucial talent to have because fashion trends change constantly.

Lets take a look at basic returns. Hallenstein Glasson have managed to pay one of the better dividends to investors of NZX listed stocks and before today's announcement the gross div was returning more than 18%. One now might expect around a 12% gross return at current share prices and that is still a considerable return given around a 9% rate for term investments.

I myself like good dividends, and only Sky City Entertainment Group [SKC], with a gross dividend, for my holding, of nearly 20%, makes HLG a good fit in the Share Investor Portfolio.

Many Kiwi retailers have made moves across the ditch to Australia and failed miserably. HLG has a small presence there, and while not proven a spectacular success their attempts at growth have been deliberate and cautious, rather than growth for the sake of it. A sign of good management and able planning. The addition earlier this year of Australian retailing queen Chief executive Shayne Quanchi, will help company plans in Australia.

Given current market conditions and an economy in dire straits, the excellent communication that management have had in the past with its shareholders, puts them clearly in the picture every time.

Well known for under promising and over delivering, management have always been upfront when it comes to relaying simple straightforward information about company progress.

Uncomplicated communication is a sign of clear management direction and even more important during the inevitable company hard times.

Finally the test I must take on whether I would continue to buy this stock. Since I only just purchased weeks ago that is probably already answering that test but I will be buying more, funds allowing, if the stock becomes cheaper.


Related Share Investor reading

Retailers are having a Christmas sale
NZ retailers ring up costs not tills


Related Links

Hallenstein Glasson- Corporate
Annual Reports
Stock Exchange Releases
Share Investor Forum - discuss HLG here



c Share Investor 2008

Lets take a break

The latest attack by Helen Clark on John Key has focused the spotlight on Key and Bill English and the holidays they took earlier this week.Clark said that she worked harder than the duo and was surprised they took holidays at the same time.

Key and English were on holiday with their families and were taking time out with them during school holidays, as families do.

It isn't a good look for our Prime Minister to have a go at a man for wanting to spend time with his family.

What other way are the public supposed to look at it?

It was a silly thing for Ms Clark to say, politically damaging, and shows the increasing pressure she is facing under a polling rort, a disintegrating government bureaucracy, protests and a series of gaffs by her and Ministers that have shown she isn't the Teflon Jane that everyone thought she was.

It is wonderful to watch.

By TRACY WATKINS - The Dominion Post | Thursday, 10 July 2008

The air above Parliament is becoming increasingly toxic as the leaders of Labour and National trade blows over the hours they work.

John Key has hit back at Prime Minister Helen Clark's suggestion that National MPs worked "short weeks" and labelled it an attack on his decision to spend time with his two children during the school holidays.

He said yesterday he made no apologies for being a family man.

That had Labour in turn privately accusing Mr Key of "dog whistle" politics by jumping on Miss Clark's remark to remind voters she had no children.

Dog whistling is a term used to refer to comments which send a coded message to your own supporters. Continued

Desperation by Labour Backfires
Pointing fingers in the playground
Retreat while you are behind
Ian Wishart's Absolute Power
Phil Goff on Alt TV

c Political Animal 2008