Thursday, October 25, 2007

Duck Season Extended: Trevor Mallard must go

http://extranet.doc.govt.nz/content/FrontPage/2006/030806_Rimutaka_kiwi-welcom.jpg
Trevor takes out the Trash


You don't get comedy written this well. Trevor Mallard took a swing at Tau Henare and him square in the face in a Parliamentary corridor yesterday.

Mallards motivation was the taunting by Henare in chambers about Mallards personal life falling about his ears.

The main spark to the big ducks fire was the National Party member Henare calling Mallard a hypocrite for abusing Don Brash in Chambers last year about leaving his wife for a new partner 20 years ago, while all the while Trev had left his wife or was possibly cheating on her, although that cannot yet be confirmed.

Mallard was one of the collectivists who voted for the anti smacking bill this year, a bill supposedly passed to stop violence. The "h" word is clearly appropriate again.

Lets face it, Mallard is one if the most inappropriate people to be in the position he is in.

His nasty, venal and ugly form of politics is more at home in Muldoons era rather than the touchy feely PC hairiness of Helen Clark's far left smothering.

He can dish out the nastiness but cannot take it. He clearly ain't clever enough to use his intellect to retort so has to resort to fisticuffs.

The most interesting part of this whole saga though is the reaction of Clark and her sisterhood to the violence that Mallard has displayed.

If this had been Hehare throwing the punch you can be sure Helen and co would be baying for Henare's job and the language used by her to describe the incident would be forceful and straightforward.

Instead Mallard has apologised and Clark has done her best to sweep the whole thing under the carpet.

The double standards are obvious here.

The physical violence of Mallard is of course is only surpassed by the social, psychological and economic violence of Labour Party policies of the last 8 years, so the acceptance by the Labour Party of Mallards despicable behaviour could be at least understood somewhat.

Parliamentary rules require that such incidents require severe punishment even losing ones position in Parliament completely.

Clearly this needs to happen in this case and nothing short of Mallard losing his job should be acceptable to the New Zealand public, excluding nutcase Labour voters of course.

Real violence like this, isn't acceptable. Duckman has made a habit of this kind of offensive stuff, once threatening to place a large Heineken bottle up a prominent persons dark places. This should be the last post for him.

Any other person in any other job would be sacked instantly.

Duckman needs the bullet.


C Darren Rickard

Conflicting Emotions

I was prompted to write this piece after having a discussion with someone in the real world-offline that is-about this blog, my reasons for writing and how I could possibly write about companies that I have a financial interest in.

What I would argue, is how can you write about a company with any authority and conviction without having some of your own moola on the line.

Of course one of the biggest arguments against writing and having a pecuniary interest in your subject is that your output may be tainted and that of course you have a financial imperative to spin your story to make it positive and fluffy.

That is true of some but you are bound to get caught out eventually if all that you commit to the PC is unmitigated candy floss.

I prefer to write about what is happening in the company from day to day, good or bad.

Of course I may put my own "slant" on things but it is unintentional and is purely my own style of writing.

Once you get to know how I write then I guess you may be able to see right through the crap!

Clearly I bought the companies that I sometimes write about so I do see them as good buys and I am bound to accentuate the positive when things are going well. On the other hand if anything is going wrong, I will be one of the first to point it out.

If anything, when I have a financial interest in my subject I tend to be more critical than if I had no money invested. My passion for the subject allows me to explore the negative aspects of a company even if individuals reading it get the wrong idea and perhaps decide they wouldn't want to buy shares in a company because I may have have written something disparaging about it.

Every company goes through bad patches and I will talk about those as well as the good times, I will leave it up to broking houses, brokers and some mainstream commentators to give the market the spin.

In the end it is up to the reader and individual investor to accept or reject the screeds of comment about some companies and make up their own mind.


c Share Investor 2007

Wednesday, October 24, 2007

Wednesday Political Soup: Edition 3

Two Time Loser

Last week saw the Labour Party chief finger wagger Steve Maharey announce that he wasn't going to run for the 2008 Election but take up the offer by Massey University for the position of Vice Chancellor.

He was previously a student, then a lecturer at the University and after nearly 18 years in Parliament has never held a productive job in the private market sector in his life.

A perfect candidate for the Labour Party of course but both Labour and Massey University will be losers. Losers because Labour need an effective smarmy politico to push more nut case lefty social reforms and Massey are big losers because they are lumbered with a collectivist who will want to push the same sorts of "Labour Like" Socialist reforms on campus.

The only winners will be the New Zealand public who no longer have to put up with this control freak who was behind one of this countries biggest attacks on the family, the anti smacking law, that was passed earlier this year.


Say what?

Image result for Darien Fenton.cartoon

Dillousional Labour MP
Darien Fenton.


From the department of silly walks and departmental office of equidistant paper clips comes news this week that Labour wants to outlaw working over 40 hours per week.

That is, not just lowering the working week and allowing workers overtime rates after that but making it illegal to work more than 40 hours!

State worshiper and freedom hater, Labour MP Darien Fenton says, "employees currently work too hard". She says the grind of long hours at the office is, "causing too much stress".

Surely individuals are big enough and ugly enough to decide whether they want to work or not eh Darien?

No, not Ms Fenton, a lifelong union "advocate" and succubus of the working man.

Quite apart from the stupidity of Fenton's idea, the chaos that it would cause employers , employees and the economy would be horrendous and would be vast and far reaching.

Employees would have to apply for state assistance to provide additional income and employers would have to find extra imaginary employees to fill the vacuum left.

It fits the Socialist argument that everyone should be equal though, and that of course extends to income, where Labour's bright idea for a 40 hr week would be yet another tool to achieve that end.

France tried the 35 hr week and it nearly sunk their economy. They are of course now trying to move away from that sort of nonsense.


Let them eat Cake


"A lie told often enough becomes truth" Lenin

Tax cuts are on the agenda again this week.

Yes Micheal "Fiscal Drag" Cullen has been making excuses again in Parliament as to why he wont give back the money he has stolen in high taxes to those that earned the money in the first place.

This quote may help out readers of this column:

"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation" Lenin

Replace
bourgeoisie with middle classes and you get what Cullen and Helen Clark are doing to New Zealand's new proletariat.

Nanny State worshiper Helen Clark is also a disciple of Lenin and seems intent on grinding the masses to a lifeless pulp or until most of them leave to live in Australia.

Cullen and Clark are not about to relinquish the control that they have over the hapless middle class that comes with high taxes.

Any "tax relief" in the grab for control next election year will come in the from of State sanctioned or controlled benefits, like the "working for families" welfare package and bribes that have some sort of State apparatus attached to them for absence of the State means no control over the people:
"When there is state there can be no freedom, but when there is freedom there will be no state" Lenin




PC Banging


Almost the end of a Kiwi institution this Guy Fawkes Day when a multitude of restrictions come into use over the sale and restriction of fireworks.

Sure, fireworks are dangerous but they are also fun and the labeling last year by David Benson "Tennis Ball" Pope of Kiwis who like to have a little fun with fireworks as "naughty boys and girls" and if they don't behave public use of fireworks will be made illegal is more than a little over the top when one considers what Mr Pope used to do with school pupils in his days as a teacher in Tauranga.

State sanctioned hand wringing will be De rigour again this year and it is possible that State run firework displays will be sanctioned by the anointed should New Zealand have the misfortune of morons having them elected again in 2008.





c Darren Rickard 2007






The Warehouse: Outcomes of Commerce Commision Decision

The Warehouse Group [WHS.NZ]watchers will know that the appeal case of Supermarket operators Foodstuffs and Woolworth's being allowed to bid for the company started yesterday in front of the Commerce Commission in the High Court at Wellington, after a decision barring either from taking over discount chain The Warehouse was brought down in June.

You will also know that the possible outcome of a Commerce Commission decision is probably going to be far from clear cut and is unlikely to provide investors or speculators with a clear focus on which to base any further investment.

My intention here is to outline what decisions the Commerce Commission possibly going make because it just isn't clear which way the cash register will open. It could go either way, with or without conditions but with the added confusion of The Warehouse itself being involved in the appeal.

What I would like to point out are the possible permutations that any decision by the Commerce Commission might have for the parties involved and investors in The Warehouse.

If the decision goes the way of both Foodstuffs and Woolworths Australia [WOW.ASX] being allowed to bid for the Warehouse then clearly this will be the best outcome for investors as there will be a fierce bidding war in which Woolworth's is likely to be the winner because its pockets are deeper than Warren Buffett, Bill Gates and that Mexican Billionaire who just made the top of the B club, combined.

Also with a open yes decision by the Commission it may leave the possibility of either Foodstuffs or Woollies partnering with Stephen Tindall to buy the company.

A no decision for both would of course lead to another appeal and would also leave the aisle open for Stephen Tindall, the majority owner of the Warehouse, to reignite his bid to launch a buyback of the company in conjunction with a private equity player or perhaps a new grocery entrant.

Woolworth's could be allowed to buy The Warehouse simply because its market share is significantly smaller than Foodstuffs.

Issues involved over domination of retail market segments should any of these decisions become reality may also rear its head. Selling of conflicting parts of any merged business that may cause competition issues may also be part of a Commerce Commission decision.

Whatever the outcome, the decision by the Commerce Commission is going to be a difficult one for them to make and is going to take a long time.

Since the sitting began on Tuesday 23 October the market has given the share price a boost by 20c to $5.65 today.


Disclosure: I own WHS shares


The Warehouse Group @ Share Investor

Long Term View: The Warehouse Group Ltd
Share Investor Short: Warehouse Group yield worth a look
The Warehouse Group: 2010 Interim Profit Review
The Warehouse: Big Brands, Big Opportunities
Warehouse strike opportunity to buy
Long Term Play: The Warehouse Group
Share Investor Short: Warehouse Group yield worth a second look
Woolworths supermarket consolidation an indicator of a move on the Warehouse?
Stock of the Week: The Warehouse Group
Warehouse 2009 interim profit a key economic indicator
When will The Warehouse bidders make their move?
Long vs Short: The Warehouse Group
Warehouse bidders ready to lay money down
The Warehouse set to cut lose "extra" impediment
The Warehouse sale could hinge on "Extra" decision
The case for The Warehouse without a buyer
Foodstuffs take their foot off the gas
Woolworths seek leave to appeal to Supreme Court
Warehouse appeal decision imminent
Warehouse decision a loser for all
Warehouse Court of appeal decision in Commerce Commission's favour
MARKETWATCH: The Warehouse
The Warehouse takeover saga continues
Why did you buy that stock? [The Warehouse]
History of Warehouse takeover players suggest a long winding road
Court of Appeal delays Warehouse bid
The Warehouse set for turbulent 2008
The Warehouse Court of Appeal case lay in "Extras" hands
WHS Court of Appeal case could be dismissed next week
Commerce Commission impacts on the Warehouse bottom line
The Warehouse in play
Outcomes of Commerce Commission decision
The fight for control begins soon

Discuss WHS @ Share Investor Forum - Register free

Download WHS Company Reports

Shop online at The Warehouse


From Fishpond.co.nz

Bird on a Wire: The Inside Story from a Straight Talking CEO

Buy Bird on a Wire: The Inside Story from a Straight Talking CEO & more @ Fishpond.co.nz

Fishpond



c Share Investor 2007 & 2009