Planned ignorance no defence in Peter's case

Donations saga impacts Peters (02:00) -Related Video


Winston Peters was belligerent, argumentative and highly flustered in his first day before a privileges committee tonight regarding suspect donations given to himself personally or his Party NZ First.

Peters has stated that he didn't break any funding laws because his lawyer never sent him a bill!

Peters as a lawyer himself should know that ignorance of a law is no defence against evidence that clearly condemns a defendant.

Peters defences against the $100,000.00 dollar donation from Owen Glenn was that the cheque was paid into his solicitor Brian Henry's account to help meet his legal costs and Henry did not tell him about it until July this year.

Another clear cop out, It is still in effect a donation to Peters.

There seemed to be a lax relationship between Winston Peters and his lawyer Mr Henry, with Peter's legal bills, most related to political matters, paid for by Henry after he himself procured funding from various sources, one such source of funds coming from Owen Glenn.

Peters is clearly guilty of at least accepting money, one way or the other, from various sources, and not openly declaring that money.

The fact that Peters "didn't know" is highly erroneous because Peters knew because of his casual relationship with Mr Henry and that it might mean money used to pay any "legal bills" might need to be declared. Otherwise why would they both insist that Peters shouldn't know?

So now having been caught he can claim innocence because he "didn't know"?

The committee presiding over the hearing will now decide whether to get evidence from any other player in the saga before preparing a report to be debated in Parliament.

c Political Animal 2008

Mike William's letter to Labour Voters

A wee gem has fallen into my hands today. It is a Labour Party begging letter for funding from their voters and it is only in my hands because the Labour voter that it went to, who has voted for Clark the last 3 times, is no longer going to.

This letter has been delivered to a sickness beneficiary, with no excess income and living in taxpayer funded housing.

I will quote parts of it over the next week just to give readers an idea of what Labour is telling their supporters.

This courtesy of Mike Williams, Labour Party President:

"You know with Helen and with Labour that we do what we say".

Curious language from a party president who tried to cover up donations from billionaire Owen Glenn earlier this year and a leader well known for routinely lying: Painter gate, limo gate, anti smacking legislation and much more.

It gets even worse for Mike Smith and Labour when you consider the following quote:

"National is also bitterly opposed to the reforms of election finance which have made election finances much more open".

This is clearly a bizarre statement to make. The Electoral Finance Act, which Labour passed last year, has made election funding less clear and has led to unprecedented confusion over election funding.

It doesn't stop secret funding, to any party, so Mike is lying again to his Labour Party faithful.

Labour have broken their own Electoral Finance Act on at least 3 occasions this year and was the first to do so.

I leave the last words to Mike Williams from his letter because they really say it all:

"...Helen Clark stands ready to lead Labour for the fifth time..."

Related Political Animal reading

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

Helen Clark stares down the barrel and lies - Video

Labour first to break own Electoral Finance Act
Electoral Finance Act: The purpose is clear

c Political Animal 2008

Freightways keeps delivering during recession

Given the bleak economic conditions over the last year, one could forgive Dean Bracewell, Managing Director, and his team for underachieving in their management of Freightways Ltd [FRE.NZ] , the New Zealand courier and document management company, but they have managed the business to a good profit result to 30 June 2008 out today.

A 5% increase in Full Year profit to just over NZ$32 million, on gross revenue of $324 million, up 14%, shows that operating costs have had an impact on the bottom line.

As canvassed before on Share Investor, Freightway's movement to diversify income streams in terms of new business areas, other than their courier businesses, has paid off-in New Zealand and Australia.

Freightways entry into document management has proven a good move for the company:
"The information management business currently contributes approximately 15% of Freightways' revenue and earnings. The performance of this business has been outstanding".
From operating result , 18 Aug 2008.

This sector is a more prominent area of business in North America and Europe. Freightway's experience in their well managed document storage and destruction business in New Zealand and Australia will provide a good base for them to grow revenue and profit in the future.

According to some business analysts, a transport related business like Freightways can be looked at as a wider barometer of how the economy is going as a whole. I would argue though that careful cost management and forward planning has helped the company avoid the pitfalls of an economy in a steep decline and that isn't as easy to do as it sounds when faced with macro economic pressures that one cannot control.

Petrol, surprise government road user charges and labour increases will continue to crimp the bottom line profit in the coming 2009 year.

The company characteristically have a subdued outlook for the following year and it is a sign of good management that they do this. Many a company, especially in hard economic times don't give a true picture of their businesses as they look forward, only to disappoint come reporting time.

Over the last several months, the share price has been affected badly. From a high of nearly 5 bucks in 2007, and a low just recently of just under NZ$2.90, nervous markets have struggled to determine a realistic price for this company-so what else is new.

At a net return of just over 6% on today's share price, it is a healthy return for a well run company with good future prospects and falling interest rates for other investments. Freightways is worth a look when considering a long term investment.

Excellent management, an easy to understand business and a good dividend delivers the goods for me.

Disclosure I own FRE shares

Freightways @ Share Investor

Long VS Short: Freightways Ltd
Freightway's keeps delivering
Why did you but that stock: Freightways Ltd
Freightway's delivers
Freightway's packages up a good result

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Freightway's Financial Data

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Dean Bracewell, Freightways MD

Interview 1 min 10 sec, 3.69 MB

Investor Relations -Freightways.co.nz
Value Cruncher


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c Share Investor 2008

Vili's acheivement individually brilliant

"I've dedicated so much to my parents, but tonight it was all about Val and all about [coach] Kirsten [Hellier], and just the hard work we've put in over the last 10 years,"

Valerie Vili 2008.

Valerie Vili's win last night at the 2008 Beijing Olympic shot put shows what an individual can do if one puts ones mind to it.

While Valerie wouldn't profess to be a role model, her achievement is surely a great example to others, especially those in the community in which she comes from, the Labour Party fed welfare disaster of South Auckland.

Valerie never gave up, she had a goal, individually pursued it after getting support from her parents and coaches, not the State, and as a result has become a well deserved success on the international stage.

The collective approach of the current Labour led Nanny State, where they teach you in school that it is OK just to participate rather than win, was ignored by Vili, and just as well.

If she and her parents hadn't ignored the Labour Party collective mantra, we wouldn't have heard the name Valerie Vili today.

Well done Val, I hope you enjoy your win and make a bundle out of it.

Related Political Animal reading

What happened to risk?

Helen Clark's words ring hollow

Feminist Socialists: a disease with a cure

Pointing fingers in the playground

John Key's success should be celebrated

c Political Animal 2008