A parody of our dear leader, Helen Clark on the Facelift satire programme. She is doing a "video diary" in the style of that "LonelyGirl" did a few years back.
This likeness seems to resemble her more than her billboards do.
Related Political Animal Video
A proposal for three teams of five guards "to be deployed across the city on a 24-hour, seven-day basis" is being discussed at today’s policy and activities committee meeting.
Community safety portfolio leader Dick Quax says it’s a response to community pressure for "greater safety measures" in the wake of several high-
profile violent crimes.
Their activities include patrolling town centres on foot or the streets in vehicles, providing a security presence for private and community events, and targeting anti-social behaviour, drunkenness, disorder and drink driving.
The main culprit is of course welfare, years of it, and with manifold increases in payments over the last 9 years there are "no-go" areas in South Auckland where you would want to don some Kevlar before entering.
Labours failed social experiment erupts: Again
You can take the family out of South Auckland
c Political Animal 2008
Kids clothing retailer and manufacturer Pumpkin Patch Ltd [PPL.NZ] profit result out yesterday was a tale of two different stories.
Long-term and short-term stories.
In the long-term Pumpkin Patch will probably do very well but at the moment it is suffering and suffering for a number of reasons, some of them obvious and some of them not so obvious.
The biggest hit on its bottom line is being taken from its stores in the UK and the USA. Both these units are relatively small and have not been established for long.
Although they are growing revenue through increased store numbers, the cost of expansion-they opened 16 US stores last year bringing the total to 34-has hit overall group profit hard and an almost 9 million dollar loss for the year on US stores is a big hit when your profit tips in at just over NZ $17 million.
Not only is the expansion costing money but US retailing is in an even worse state than it is in Australasia, where the bulk of Pumpkin's sales and profit currently come from. The UK division has suffered a similar fate for similar reasons, although losses have been lower than in the US because the brand and its 35 stores in the UK have been established for longer and initial establishment costs have been somewhat ameliorated.
What I like about management's updated growth strategy for the UK and US is that only one store in each country will be opened in 2009 and they will concentrate on establishing the brand further, cutting costs and focusing on margins.
This outlook is the most sensible given current market conditions and the negative retail environment and may have to continue past the end of 2009 because of impacts from the credit crunch.
The break in store growth in these 2 markets will put expansion of the brand into hiatus and delay the economies of scale and logistical capabilities and brand growth that comes with a larger number of stores but the reassessment of growth plans is a decision based on the poor outlook for the retail sector.
Two positive factors in Pumpkin's profit release was the New Zealand and Australian arms of the business.
Australia's 107 stores achieved strong sales, up 11.4% to $198.5m and was the highlight of an otherwise downbeat profit result while New Zealand's 52 stores grew sales 2.0% to $65.6m.
These results were achieved in an Australasian retail market that is experiencing a severe downturn and a recession in New Zealand-management have done well in these two relatively mature growth markets .
The short to medium term for Pumpkin Patch is going to be tough, especially for their UK and US stores but there are some bright spots along the way. A more favourable exchange rate will have a positive impact in 2010 and the removal of quotas for their US stores on Jan 1 2009 will clearly be advantageous to the bottom line.
Long-term Pumpkin Patch has the designers, brand awareness and management to push the company to a major global success story.
Disclosure I own PPL shares in the Share Investor Portfolio.
Pumpkin Patch @ Share Investor
Pumpkin Patch Ltd move downmarket
Long Term View: Pumpkin Patch Ltd
Pumpkin Patch's North American Downsizing a Prudent move
Digging at Pumpkin's Profit
Long vs Short: Pumpkin Patch Ltd
Pumpkin Patch Buyback shows Confidence in the Future
Pumpkin Patch takes a hit
Pumpkin Patch ripe for the picking
What is Jan Cameron up to?
I'm buying
Why did you buy that Stock? [Pumpkin Patch]
Rod Duke's Pumpkin Patch gets bigger
Buyer of large piece of Pumpkin Patch a mystery
Pumpkin Patch a screaming buy
Broker downgrades of PPL lack long term vision
Pumpkin's expansion comes at a cost
Pumpkin Patch vs Burger Fuel
Pumpkin Patch profits flatten
New Zealand Retailers ring up costs not tills
Discuss PPL @ Share Investor Forum
Download PPL Company Reports
Buy Pumpkin Patch Clothing
From Fishpond.co.nz
Buy Bird on a Wire: The Inside Story from a Straight Talking CEO & more @ Fishpond.co.nz
c Share Investor 2008
It is no surprise that the purchase of Toll Holdings rail assets earlier this year were overpaid for but Kiwis can now officially know just how much.
Documents posted on the Treasury website reveal that in late 2006 officials valued the New Zealand’s rail system at $120 million, some $570 million less than the price the government paid for the business in July this year.
The paper trail clearly shows that throughout the lengthy sale process, Toll had the upper hand in the negotiations because it knew the government was not buying for commercial reasons. Toll also knew that the crown was under time pressure because it had to continue adequate funding to secure the financial viability of the rail business.
We are supposed to trust this individual to manage the New Zealand economy over the current recession given he spends taxpayer money like a drunken socialist?
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KiwiRail rolls out Cutting edge technology
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KiwiRail will cost Mainfreight
c Political Animal 2008
