Poll and Comment: Labour's teflon in tatters

The latest Nielson Fairfax political poll shows that Aunty Helen and her mates continue to slip further behind. It reflects an earlier Colmar Brunton poll that came out on Monday and continues an ongoing slide for the Godmother of the nation.

The downwards trend for the Labour Party and supporting political players rolls on. It seems since the last poll 3 months ago their stance on the Electoral Finance Act. An act that stifles free speech against the government and stamps on political funding to opposition, and their hypocritical stance over secret loans made to the party during the recent Owen Glenn scandal, that run contrary to their moralistic masturbation over the EFA, have really taken their toll.

c Moreu 2008, from Stuff , " The Loan Arranger"

The possible inclusion of a referendum to coincide with the 2008 election, will be a further reminder to voters about the other restraints of New Zealander's freedoms that these mad socialists have foisted on us over the past 9 long years.


Related Political Animal reading

Colmar Brunton Poll and comment
Labour Party election funding murky at best
Electoral Finance Bill: The purpose is clear
Owen Glenn given the cold shoulder
Snouts in the trough bent out of shape
The Owen Glenn story: Singing the same tune but hitting a bum note

c Political Animal 2008

National opens up 23 point lead - poll

9:05AM Saturday February 23, 2008, NZPA

National has opened up its biggest lead over Labour, the latest poll showing it 23 points ahead with 55 per cent support.

The Fairfax Media-Nielsen poll of 1088 voters showed National gaining 10 points on the same poll last November, while Labour lost 8 points.

Labour's problems don't stop there; support for Prime Minister Helen Clark has dropped to 29 per cent, down 9 points in three months, while National leader John Key is 15 points ahead on 44 per cent, up 8 points.

The Greens 6 per cent support meant it was the only minor party to hit the 5 per cent needed under MMP to qualify for seats without an electorate.

New Zealand First had 3 per cent, the Maori Party 2 per cent and ACT 1 per cent. United Future and the Progressives both failed to rate.

If the poll was reflected in an election-night result, National would govern alone with 69 seats.

The poll, taken between February 13 and 19, had a margin of error of 3 per cent

- NZPA

Mainfreight drives excellent results through prudent management

The performance of Mainfreight (MFT) the New Zealand niche global logistics player, over the last 9 months to the end of December 2007 has been excellent in the light of slowing global economic conditions.

Key results:

*after tax profit of $NZ29.37 million, a 17.5% increase on last year.
*revenue up 8.83% on 2007, to $645.37 million.
*strong revenue increases from New Zealand, Australia, Asia and the USA.
*new acquisitions either performing to plan or exceeding expectations.

Full MFT, NZX profit announcement


Like Michael Hill International(MHI) and divisions of other New Zealand business operators who have a global reach, Mainfreight's New Zealand growth pales by comparison to their foreign business.

Freightways(FRE) the New Zealand courier company, has found the domestic conditions tough going in their latest profit announcement. Mainfreight has done better than many to manage the economic downturn here though, their opening of a large logistics "supersite" in the South Auckland area, NZ's largest market, has helped focus costs and given them better economy of scale in that important industrial area.


The Labour backed, Government owned, rail service seems to be having an impact on the company though:

"A shortage of rail equipment during the period hampered opportunities to move increased volumes on rail, and is of ongoing concern".

Clearly a state run rail service is going to be an ongoing source of pain for the company.

Management are positive with their long term outlook for the company as far as foreign markets are concerned though:

"Our market share remains small relative to the size of each offshore market, providing significant opportunities for further development in excess of GDP growth in each country. For example, the declining US dollar has seen the start of significant export growth from the United States which will assist export volumes for our American operations. "

It is encouraging to see a positive view of their business, in the light of uncertain global economic conditions, and their management seems prudent in the face of tougher economic conditions, domestically and internationally.

In the first 2 months of this year, indicators are that growth has continued along the lines of the last 9 months and exceeded previous years in respect of revenue growth.

Shareholders have excellent management to thank for driving the results of the company over the last 9 months.


Disclosure: I own MFT shares


Related Share Investor reading

Mainfreight keeps on truckin
Business Gobbledygook puts up barriers to communication
A rare breed
Share Investor's 2008 stock picks


c Share Investor 2008

Michael Hill's profit shines

Results for Michael Hill International(MHI) were expected by the market as they were telegraphed a few weeks back but it is pleasing to see the breakdown.



Under Michael Hills careful
management his company looks
set for a good long term future.


I have been a long term follower of this company and have only admired it from a distance, having bought a very small holding late last year I am very pleased that I did.

Key figures:

* Operating revenue of $209.191m up 4.8%
* EBIT of $30.799m up 27.8%
* Net profit after tax of $19.480m up 27.1%
* 19 new stores opened during the six months
* Total of 210 stores open at 31 December 2007

Full profit rundown from NZX


Australia and Canada performed well over the last 6 months but New Zealand stores were flat, reflecting the poor economic conditions that we are currently facing. Business is likely to be tough in New Zealand for the lead up to the General Election at the end of the year and tax cuts offered by National are likely to stimulate the retail sector at the start of 2009.

Australia clearly has much more store growth to come, their current 136 stores vs the New Zealand store count of 52 would equate to roughly 250 stores when you figure OZ has five times the population that NZ has. Even store growth in Auckland is likely to be added to as its citizens need approx 30,000 ft of new retail space very year just to accommodate population growth.

Canada has the most fascination with me though. It has grown stongly in revenue over the last 6 months and doubled their operating profit on a base of 22 stores.

Their apparent success here, after just a few years, makes this market one to watch closely for the future direction of the company as a whole. Not just for profits that should come from the Canadians though.

I'm highly interested in their eventual push further south, into the clutches of the US consumer.

This market will be MHI's toughest one yet and if successful will clearly make the company a true global player, something the man, Michael Hill, has had designs on for many years.

The route the company is taking into the USA differs from that of another prospective Kiwi global player, Pumpkin Patch Ltd(PPL), Pumpkin opened in the US first, while MHI's strategy of entering a smaller, similar market seems to be a wiser move in my mind, less short term risk but a bigger long-term payoff.

It will be interesting to see where Michael Hill International will be in 10 years, last weeks profit announcement and associated figures make the possibility of global success in the long term an attainable goal.


Disclosure: I own MHI shares

Essential Links:

Investor Information

Related articles from Share Investor

MHI has defined growth strategy
MHI profit sparkles
Pumpkin's expansion comes at a cost


c Share Investor 2008

Clarks rudeness to donor Owen Glenn plumbs new depths

Friday, February 22, 2008 By Rod Emmerson

"Helen's idea of Fidelity"


Ignoring the biggest donor to your 2005 election bid, Owen Glenn, at a function that you are supposed to be the figurehead of, at a school of business that bears the name of that donor and using the Maori race card excuse not to rub noses with him is pushing the envelope even for this sheila.

It is rude and disrespectful and certainly not something a balanced Prime Minister would do.

Its childish stuff and her modus operandi, but something that brain dead Labour party voters seem to ignore year after year when they vote this trollop back in.

The video of the opening of the school is a classic and if body language tells you anything here its that Helen Clark would rather at a National Party Election victory party(OK thats going too far) or perhaps at the main meeting house at Waitangi on a wet day.

• Watch Video: Clark and Glenn at the Business School opening
• Watch Video: Mike Williams - 'I screwed up'

Video from NZ Herald


There is much more dirt to dig up over this scandal and I think I can hear Fran O' Sullivan from the NZ Herald working on her word processor now.

Stay tuned!

c Political Animal 2008