Friday, February 22, 2008

Anti Anti-Smacking Petition slap in the face for out of touch Parliament

The anti, anti-smackers group have succeeded in their quest to get 300,000 kiwis to vote for their petition.

Congrats from Political Animal and congrats to those who cast their vote.

A real smack in the face for Bradford and the lemon suckers from Labour and other supporting players; Greens, Maori Party and the dopey National Party.

If there is a referendum this election, any elected party will be even dopier to ignore it.


c Political Animal 2008


Petition aiming to revoke smacking bill passes 300,000

NZPA | Friday, 22 February 2008

A group aiming to overturn the so-called anti-smacking legislation say they have enough signatures to force a referendum.

One of the organisers, Kiwi Party leader Larry Baldock, told a news conference today the petition had gone past the 300,000 target.

"The actual target to force a referendum is 285,019, which is 10 per cent of the electoral roll, but we aimed at 300,000 to be safe," Mr Baldock said.

"As of today we have 322,252 signatures."

The petition asks: "Should a smack as part of good parental correction be a criminal offence in New Zealand?"

Mr Baldock said nearly as many people had signed a second petition question, "Should the Government give urgent priority to understanding and addressing the wider causes of family breakdown, family violence and child abuse in New Zealand".

The petition follows the passing into law of Sue Bradford's bill last year outlawing the defence of reasonable parental correction in assault cases.

It was passed 113-8 after a last-minute amendment put forward by National stating police did not have to pursue inconsequential smacking.

Mr Baldock said the petition would be handed into Parliament at the end of next week, where parliamentary clerks would check on the number of duplicate signatures.

"We think some it impossible some people won't have signed twice - 12 months is a long time - but we are hoping it will be no more than 10 to 15 per cent."

If the petition reaches the official target Mr Baldock said there was a good chance a referendum would be put to voters on election day.

The referendum would not be binding.

Mr Baldock said politicians should not ignore the referendum if it was passed.

"It's not just about pro-smacking or anti-smacking, it's about our democracy. The most recent poll said 74 per cent of New Zealanders were opposed to the bill," he said.

Co-organiser Christine Rankin said Ms Bradford's bill would do nothing to stop child abuse.

Owen Glenn given the cold shoulder


c Stuff 2008

A picture tells at least a $600,000.00 story.

Billionaire Owen Glenn is protected by bully boy Trevor Mallard from the clutches of her former friend and secret donor to the Labour Party.

Trevor was hear to say from someone just out of frame of this picture-possibly Winston Peters, " Helen my dear, should I do to Glenn what I did to Tau Henare?"

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

Mallards new anti violence advert
Trevor mallard must go

c Political Animal 2008

Thursday, February 21, 2008

Owen Glenn: Snouts in the trough bent out of shape




If you haven seem Emerson's take on the Owen Glenn scandal I thought I would share it with you here.


NZ Herald's coverage of Owen Glenn Scandal

Labour president offers to quit over Owen Glenn saga
Glenn offered Howard Morrison $1m to stand as MP
Honour not for loans, says Clark
Peters fury over handling of millionaire donation story
Donor now says Labour offered Monaco post
Business school 'crucial' to NZ success
Clark must explain quote, says National
Big heart, deep pockets
Labour should squirm over links to billionaire
Clark denies offering post to supporter
This building means business



The little Labour piggy though clearly got kicked out of Owen Glenn's "rich prick" billionaire sty because the chief sow wouldn't go anywhere near him today.

Trevor Mallard occupies Owen Glenn (right) and keeps him away from Helen Clark. Photo / Paul Estcourt
Photo Glenn Estcourt, NZ Herald

Glenn is spirited away from Clark by
Trevor "the bash" Mallard. Clark kept her
distance the whole evening of the opening
of the business school that bears Owen Glenn's
name, and the reason he got a Government
Honour in the New Years list.


For the life of me I cant understand why a political party like Labour would first of all take a donation for the 2005 election from the likes of an individual who they would call a "rich prick" and pays no tax, which they also despise, then take a secret "loan" from him after the election and then try to avoid him at all costs.

At the time of the concealed secret $100,000.00 loan made by Owen Glenn to Labour, Helen Clark and her minions were railing against "big money" and "secret donations" that the National Party had apparently benefited from, when they debated the anti democratic , anti freedom of speech Electoral Finance Bill.

So its only big money and secret donations when your opposition gets the benefit. It seems that is it.

There is more to go on this scandal and it has all the participants running for cover, covering up, lying to protect themselves, political friends and their careers.

In a saga and acting job worthy of an Oscar for best fictional adaption of a screenplay, Clark asked her Labour Party President to render his resignation to her today and then refused it.

This is typical Helen Clark stuff, deflect the rightful responsibility for her or party's errors or corruption by attacking her rightful accusers, then blame either a public official, junior minister or in this case Mike Williams, the Labour Party Prez.

Even Clark's lapdog Winston Peters has got in on the act. Rumours abound as to where the money came from to pay off the $158,000.00 of taxpayer money he stole to fund his 2005 election bid last year.

A secret donation of around $100,000.00 was made into party coffers at the end of 2007. Was it from Glenn? Nobody from NZ First is denying the accusation.


Related Political Animal reading

The Owen Glenn story: Singing the same tune but hitting a bum note

Labour Party Election funding murky at best

C Political Animal 2008


Auckland Airport profit stays grounded




Full NZX profit announcement for AIA
Update on CPPIB Bid
CPPIB response to payment of Interim DIV
NZ Herald report



I haven't got much to add to today's profit announcement by Auckland International Airport
(AIA) except to point out that the total revenue for the first half up 7.9 per cent to $NZ172.325 million, even though after tax profit was down by approximately 4% to $47.5 million for the half year and all other important figures for future performance and profitability are good.

Other important key performance factors from the half:


* Total passenger movements increased 4.9 per cent to 6,449,543.

*
Retail income was up 10.4 per cent.

* Car parking income, up 15.5 per cent.

* Rental income was 15.7 per cent higher.

One can also see from the stats below that AIA makes for a good long term investment.



Revenues (m)
EBITDA (m)
Operating margin(%)
Depreciation (m)
Amortisation (m)
EBIT (m)
Net profit before abnormals (m)
Net profit (m)
Income tax rate(%)
Net profit margin(%)
Employees (thousands)
Long term debt (m)
Shareholders equity (m)
Net Gearing (%)
Net Interest Cover (x)
Return on capital(%)
Return on equity(%)
Payout ratio(%)




Although profit has stalled recently, due mainly to increased capital expenditure on expansion of terminals, retail space and other airport upkeep, revenue and passenger numbers have increased well year by year.

When shareholders vote to accept or reject the Canadian Pension Plan Investment board offer they must look at todays and past profits and look at where the airport and therefore their investment might be in 10 years time.

The Airport is paying an increased dividend of 5.75c per share to use up imputation credits should the Canadian bid take off, so the offer by the CPPIB has been reduced by the dividend payout.

Further to the merger proposal, as of yesterday, CPPIB has advised that acceptances have been lodged for 81,422,529 shares, representing 6.66 per cent of the total shares in the company.

89,267,833 shareholder votes, representing 7.30 per cent of the total shares in the company, have also been received. Of the votes received to date, 57.62 per cent are against CPPIB acquiring a 40 per cent stake and 42.38 per cent are in favour of the offer.

Slowish going so far for the CPPIB but New Zealanders are notoriously mogadonish when making decisions and tend to leave these things to the last possible moment but shareholders still have until March 13 2008 to make up their minds.


https://ost.asbbank.co.nz/581DDC9B56D4715202EDE783905236E3/Research/GetChart.ashx?url=http://asbc.iguana2.com/asb/hist/NZSE/AIA/10y/1/line/30/60/linear/vol
c ASB Securities 2008

One can see from the 10 year chart that long term shareholders have been handsomely
rewarded. Generous dividends amounting to 55.1c over 10 years plus tax credits have been
paid.


Long term AIA management seem bullish about company prospects but short term drags related to "the global economy" and "global credit tightening" appear to be excuses used to defuse shareholders expectations should profit be stagnant in the coming year.


Related Share Investor reading

Softening opposition to CPPIB bid for AIA
Directors of AIA bribe brokers not to sell
What is Auckland Airport worth to you?
Second bite at AIA by CPPIB might just fly
AIA new directors must focus on shareholders
Auckland Airport merger deal nosedives
The Canadians have landed
AIA incentive scheme must fly out the window
Government market manipulation over AIA/DAE deal
DAE move on AIA: Will it fly?


Disclosure: I own AIA shares


c Share Investor 2008