Monday, November 26, 2007

Helen Clark and Jenette Fitzsimons knee deep in Windflow Technology conflict

Helen Clark, the Prime Minister of New Zealand, continues to have a problem with separation of her job from conflicts of interest and possible conflicts of interest.

Apart from the numerous personality, and socio-political conflicts she has in her day to day activities the topic up for discussion here is her and her Government's numerous conflicts of interest with the business world.

We have had recently Clark herself, Micheal Cullen and other Government Ministers interfering in Air New Zealand by making public statements that have affected the share price of the airline, likewise she and her Ministers erred again in 2006 when making inappropriate comments, on several occasions, about Telecom New Zealand that lost shareholders 100s of millions of dollars.

Most recently we have had Winston Peters, a Labour Government partner and lapdog making inappropriate comments in the media about influences they could use to stop the Auckland International Airport from being sold.

The most glaring example and probably least known, is the conflict that arises from Jeanette Fitzsimons from the Green Party and her major shareholding in the listed NZ windfarm owner , manufacturer and developer, Windflow Technologies.

Fitzsimons is a partner to the Labour Government and drives Labour's "Green Agenda" for them. Fitzsimons has been responsible for passing law and changing rules to give companies like hers an advantage over competitors and as a result she has financially benefited directly from her activities in Parliament. Jenette has a knack of forgetting to mention her large shareholding in Windflow Technology when dealing with such matters when doing Parliamentary business.

You cant get more corrupt and conflicted than that but she has a good role model for her modus operandi in Al Gore, but that is another story.

If we get back to Clark's role in this though, not only is her Government culpable in the conflict of interest by allowing Fitzsimons to feather her own nest but she has also been directly championing the company with financial, moral and media support for Windflow Tech.

Helen Clark with Windflow Technology
head Geoff Henderson,centre, and Derek Walker,
chairman of NZ Windfarms, at the commissioning
of NZ Windfarms' turbines near Palmerston North.



This sort of Parliamentary, legislative and Prime ministerial support for Windflow Tech is clearly a huge conflict of interest that shouldn't be allowed to continue, although we shouldn't be surprised by this sort of conflict as it is apparent at most of our listed companies: Tim Saunders at Contact Energy, Lloyd Morrison at Auckland Airport and a host of other rapscallions and rascals at a whole host of other listed companies.

The shareholders at Windflow Tech should be worried too.

Government interference, as outlined above, can also change to the negative at a whim, should policy, Government or thinking change.

We have to remember, as shareholders in companies, however small or large our holding maybe, it is our personal property rights that are at issue here. Interference from individuals, entities, whether Government or private have no more rights than you or me and their influence shouldn't be able to be subscribed to the extent that they can change laws to suit their own agendas and line their own pockets.


C Share Investor 2007

Christchurch Electoral Finance Bill protest , Wed 28 Nov, 1.00pm


The Auckland EFB march Nov 17, 2007

Protest March Victoria Square to Cathedral Square Wednesday 28 November 12.30. March starts 1.00pm. Organiser of the Auckland and Wellington marches John
Boscawen will speak.

Get ready citizens of the South, it is now your turn to march against this attack by the sisterhood on your democratic rights to free speech and your right to criticise any sitting govt be it snivelling Lefties, National, Greens or any other colour of politics.

The passing of the Electoral Finance Bill into Law next month means your right to freely do that in election year will be removed.

I will not be able to legally write this blog!

The Greens said last week that this bill would allow more free speech. That ladies and gents is a bald faced lie, just like the one told by Helen"Teflon" Clark and Sue "I'm so cute" Bradford that the repeal of section 59(or the anti smacking bill) earlier this year wouldn't lead to parents being charged for smacking a child on the hand for being naughty, it has happened in a number of cases already.

Get out there Canterbury and protest for your right to protest against a Government that want to silence your voice.

Speak up before it is too late!!


C Political Animal 2007

Friday, November 23, 2007

Share Investor Friday free for all: Edition 12

Fat Prophets

There have been some good company results out this week. Ryman Healthcare had a 20% rise in profit for the last half year and forecast another strong year in 2008, while Fisher and Paykel Health half year profit was down sharply because of repatriated funds in US dollars lower due to the weak US currency but sales and profitability before currency exchange were up strongly.

http://www.headliner.co.nz/images/Ryman_Healthcare.jpg
Part of a Ryman Healthcare Village

Earlier this week, Mainfreight half year profit rose around 9% before abnormals and future guidance gave investors positive encouragement for their investment in the company.

OK, OK, so I'm blowing my own trumpet because I own shares in all these companies? Well, Yes and No.

While individually these 3 companies are doing well, with rising sales, profits and good future profits indicated, as a group they show that New Zealand listed companies are still doing well, despite all the international drama of market turmoil, rising oil, mineral, commodity prices and Al Gore putting his carbon footprint in his mouth again.

Investing long term in good companies always beats the likes of trading carbon fairy dust!


I'll be baackk

The Loan Terminator, Governor Arnold Schwarzenegger, is back in the news again this week, in a sequel to his Terminator movies that would have him eliminate Californian home loan debtors the pain of repaying their sub prime mortgages at normal interest rates by making the sweetheart deals they initially signed up for extend for a period of up to seven years.

http://img.timeinc.net/time/2007/villains/images/schwarz_land_page.jpg
The Governator terminates debt while
looking cool at the same time.


The bulk of these "sweetheart" deals at very low interest rates were due to be recalculated in several months time but 3 lending institutions who have exposure to 25% of sub prime loans, Countrywide Financial Corp, GMAC, Litton Loan Servicing and HomEq Servicing, seem to have convinced Arnie that eliminating the inevitable collapse of borrowers next year and putting it off till 2014 is a great idea.

As I have ranted on before, these individuals, as sad as it is, simply need to bite the bullet and face the music now, instead of slowly dragging down the rest of us with them.

Arnie needs to go back to Hollywood and fight the bad guys not Terminate borrowers' and lenders' responsibilities to face their own debt woes.

Terminator 4 anyone?


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.

http://www.bbc.co.uk/norfolk/content/images/2007/02/02/carbon_footprint_400_03_400x300.jpg
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.


Fletcher Building's got game


http://media.apn.co.nz/webcontent/image/gif/012edednpark.gif
Artist impression of the new Eden Park

In a provisional decision, it has been announced today that Fletcher Building has been picked as the preferred builder for the new Eden Park revamp, valued at anywhere between NZ$190 million and north of $300 million, depending on who you speak to.

The stadium is to be rebuilt for the 2011 Rugby World Cup and construction is expected to start in August 2008.

If Fletcher's can negotiate a good deal for them, it is going to be good for the company. I'm mindful though that many stadiums built around the world have caused construction companies much grief, as changes to design, construction problems, and political meddling has put profits at stake and even put company futures at risk.

The new Wembly Stadium almost sunk the Australian builder Multiplex last year and the company building the new Vector Arena in Downtown Auckland lost big dollars on that project.

Grab your seat for the game, Fletchers could be in for a bumpy ride.


NZX Market Wrap



The benchmark NZSX-50 index, which yesterday ended below where it started the year, close up 16.8 points on 4071.0.

Turnover was light at $71 million.

"The over-riding theme was one of extreme caution," said ABN Amro broker Matt Willis. While value was starting to emerge, there was no rush to buy. Investors remained risk averse due to the US subprime mortgage crisis, which he said was a bi-product of weakening economy.

On the local scene, results of export stocks this week revealed the lagged impact of the high dollar was starting to hurt as currency hedges ran out. Companies were concerned about higher costs.

"Operating conditions are less than positive and that has followed through into sentiment."

However, retirement village operator Ryman Healthcare picked up 2c to 207 after reporting a 22 per cent lift in half year net profit after tax to $34.7 million.

No.2 stock Fletcher Building pared its morning loss to 5c, ending on 1175, after it was confirmed as the prime contractor to revamp Eden Park.

No.3 Contact Energy finished 4c up on 889.

NZ Oil & Gas eased back 2c to 110, having traded up to 113 in the morning, after gaining 11c yesterday on news estimated oil reserves for the Tui field had increased 30 per cent to 41.7 million barrels. That was worth an extra $200 million to NZOG, over time.

Sky City ended unchanged on 518 with possible bidders expected to show their hands early next week. However, share action suggests the market does not hold high hope for high offers.

Australian stocks mostly had a good session despite uncertainty surrounding tomorrow's election result.

Lion Nathan, which on Wednesday reported a strong result with good prospects for 2008, closed up 60 at 1100.

Goodman Fielder recovered some of its recent losses with a 9c gain to 230.

NZPA


NZ Dollar Wrap

Reuters currency rates

5pm today 5pm yesterday

NZ dlr/US dlr US75.62c US75.46c
NZ dlr/Aust dlr A86.25c A86.41c
NZ dlr/euro 0.5060 0.5074
NZ dlr/yen 81.60 82.10
NZ dlr/stg 36.47p 36.53p
NZ TWI 69.31 69.42
Australian dollar US87.64c US87.36c
Euro/US dollar 1.4942 1.4870
US dollar/yen 107.89 108.84


Disclosure: I own Fletcher Building, Ryman Healthcare, Fisher Healthcare and Mainfreight shares


C Share Investor 2007

Thursday, November 22, 2007

2nd Auckland EFB Protest(UPDATED)


Auckland march protesters 17 Nov, 2007


There is another protest march against the Electoral Finance Bill planned for December 1 2007 in Auckland.

The march kicks off in Aotea Square at 2.00pm heading off down Queen St to Britomart.

It is being organised once again by John Boscowan.

There is also to be a march in Christchurch Wednesday November 28 2007, details to follow.

C Political Animal 2007