Allan Hubbard Saga: Hubbard looks set to cop a plea

The NBR has reported this morning that there is yet another delay in the Serious Fraud Office case against Allan Hubbard and his failed business empire.

There have been serious charges investigated and evidence of fraud, forgery and bogus investments but Allan Hubbard's legal team have been delaying the final charges being brought via the SFO by last year requesting further time to gather evidence and last month submitting an MRI brain scan of Mr Hubbard.

Classic delaying tactics for an accused as old as Mr Hubbard all pointing to his legal team trying to prove that Mr Hubbard is not fit to stand trial and maybe instead willing to plea bargain their way out of the more serious charges and admitting to some of the lesser charges brought and thereby saving face on both sides.

A decision by the SFO is "weeks away" according to SFO head Adam Feely and in that time parties to the case look likely to hammer out the terms of a plea bargain to make everyone look good.

After the SFO has spent so much time and money on the case they are unlikely to want to let the accused walk away scott free, there is after all clear evidence of serious charges, so allowing Hubbard to cop a plea, would, in the SFO's eyes, make their pursuit of him seem justified to the public.

Age or sickness should not of course be a factor in serious charges of this nature being brought against the accused but all indications are leading to a cop out and get out of jail free card for the hubbardmeister.

Allan Hubbard Saga

Full SFO Statement on SCF Fraud Investigation

Hubbard Letter to Simon Power

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Share Price Alert: Restaurant Brands Ltd

The all-time peak for Restaurant Brands Ltd [RBD.NZX] shares was $2.76 back on October 29 but since then the share price has retreated by 29c or just over 10% to close at $2.46 yesterday.

There doesn't appear to be anything material within the company to suggest a slow down in company fortunes and there was even an NZX share price enquiry back in late Jan when the share price dropped 28 cents in a few weeks that came to nothing so the share price fall seems to be a mystery.

I can only guess that there could be cost pressures on the business from increased raw food prices and energy costs. Every staple has risen substantially over the last few months, especially this year and chicken, the primary cost for this business, has risen 10% in January alone.

While the company will have stable contracts for supply of raw food and power these costs will rise when the contracts expire. Add to this the minimum wage rise of 2% passed a few weeks ago and one can perhaps see some validity in the lower share price.

I have been uneasy about the RBD share price for some time and in November questioned the highs the share price was reaching.

There will obviously be more cost pressure as 2011 wears on so the share price is likely to retreat from its present levels unless price rises at the counter can be increased without affecting sales too much.


Share Price Alert

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Restaurant Brands @ Share Investor

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Discuss RBD @ Share Investor Forum



c Share Investor 2011

The Case for State Asset Sales

Originally posted @ Share Investor Blog

Much has been written over the last month since the National Party announced its policy to partially sell State Electricity assets should they win the November 26 election and most of it the typical rantings of those commentators from the left and those politicians from the same place that are scaremongering for political gain.

If we look at the facts before us though, in terms of the economic fortunes of New Zealand we are in a dire situation.

These are the main points of the National Party Policy:

• The Government would have to maintain a majority controlling stake by owning more than 50 per cent of the company.

• New Zealand investors would have to be at the front of the queue for shareholdings, and we would have to be confident of widespread and substantial New Zealand share ownership.

• The companies involved would have to present good opportunities for investors.

• The capital freed up would have to be used on behalf of taxpayers to fund new public assets and thereby reduce the pressure on the Government to borrow.

• The Government would have to be satisfied that industry-specific regulations adequately protected New Zealand consumers.

Very specific guidelines for a sale process that do not mention full sales.

We have very high debt levels, both personally and publicly and this debt is a heavy weight on out present and future economic stability.

We owe almost as much as we own and borrowing and interest costs are currently having a big impact on us, with the State borrowing NZ$300 million a week and individuals still borrowing and servicing their own debt.

This impact will have long term effects if we do not do anything to either pay down more debt, cut spending or drastically cut both. Nobody would attempt to do the latter, apart from the most rabid right wingers so we have to do something right?

Absolutely is the unequivocal answer.

While I would be happy to sell non-essential assets to the State like schools, hospitals, airlines, banks and many other under-performing state monopolies, the National Party are only considering selling partial minority stakes in 4 electricity companies to Mum and Dad investors -hardly a sell-down of the family silver!

The control of those assets remains in the hands of the State on behalf of all of us, so it shouldn't be a problem to the left who have championed the same sort of sell-down of Air New Zealand Ltd [AIR.NZX] that happened under Labour nearly 10 years ago, so the current opposition seems at the very least sour grapes that the left are not in power and at the most hypocritical to the extreme.

The proceeds from a sell down of 49% stakes in the 4 remaining state power companies should go to paying down debt, there are indications that Government want to use the cash freed up to buy other assets for the State but that would clearly be a mistake given the poor quality of management of State assets under any political party.

The sell-down will also encourage prospective small Mum and Dad investors to invest in good companies based in New Zealand rather than putting money into dead end stuff like term investments, private real estate or investing money overseas.

The vast proportion of Kiwisaver money and money invested in various New Zealand superannuation schemes is currently invested offshore and that clearly needs to change.

We need to invest in ourselves, promote a savings culture based on our own assets and the National Party proposal ticks all those positive boxes.

To scaremonger by saying this policy is one based on failed models of the 1980s and 1990s is simply that and is not based on fact at all but a political agenda and lack of economic education, business skills and a determination and political ethos that will have us stuck with the debt we have now for generations to come.

We need to take politics out of this and take a good hard look at the merits based on fact.


Recent Share Investor Reading

• Freightways Ltd: 2011 Half Year Profit Commentary
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Discuss this Topic @ Share Investor Forum


From Fishpond.co.nz



Buy Every Bastard Says No - The 42 Below Story, by Geoff Ross & Justine Troy & more @ Fishpond.co.nz





c Share Investor & Darren Rickard 2011

The Case for State Asset Sales

Much has been written over the last month since the National Party announced its policy to partially sell State Electricity assets should they win the November 26 election and most of it the typical rantings of those commentators from the left and those politicians from the same place that are scaremongering for political gain.

If we look at the facts before us though, in terms of the economic fortunes of New Zealand we are in a dire situation.

These are the main points of the National Party Policy:

• The Government would have to maintain a majority controlling stake by owning more than 50 per cent of the company.

• New Zealand investors would have to be at the front of the queue for shareholdings, and we would have to be confident of widespread and substantial New Zealand share ownership.

• The companies involved would have to present good opportunities for investors.

• The capital freed up would have to be used on behalf of taxpayers to fund new public assets and thereby reduce the pressure on the Government to borrow.

• The Government would have to be satisfied that industry-specific regulations adequately protected New Zealand consumers.

Very specific guidelines for a sale process that do not mention full sales.

We have very high debt levels, both personally and publicly and this debt is a heavy weight on out present and future economic stability.

We owe almost as much as we own and borrowing and interest costs are currently having a big impact on us, with the State borrowing NZ$300 million a week and individuals still borrowing and servicing their own debt.

This impact will have long term effects if we do not do anything to either pay down more debt, cut spending or drastically cut both. Nobody would attempt to do the latter, apart from the most rabid right wingers so we have to do something right?

Absolutely is the unequivocal answer.

While I would be happy to sell non-essential assets to the State like schools, hospitals, airlines, banks and many other under-performing state monopolies, the National Party are only considering selling partial minority stakes in 4 electricity companies to Mum and Dad investors -hardly a sell-down of the family silver!

The control of those assets remains in the hands of the State on behalf of all of us, so it shouldn't be a problem to the left who have championed the same sort of sell-down of Air New Zealand Ltd [AIR.NZX] that happened under Labour nearly 10 years ago, so the current opposition seems at the very least sour grapes that the left are not in power and at the most hypocritical to the extreme.

The proceeds from a sell down of 49% stakes in the 4 remaining state power companies should go to paying down debt, there are indications that Government want to use the cash freed up to buy other assets for the State but that would clearly be a mistake given the poor quality of management of State assets under any political party.

The sell-down will also encourage prospective small Mum and Dad investors to invest in good companies based in New Zealand rather than putting money into dead end stuff like term investments, private real estate or investing money overseas.

The vast proportion of Kiwisaver money and money invested in various New Zealand superannuation schemes is currently invested offshore and that clearly needs to change.

We need to invest in ourselves, promote a savings culture based on our own assets and the National Party proposal ticks all those positive boxes.

To scaremonger by saying this policy is one based on failed models of the 1980s and 1990s is simply that and is not based on fact at all but a political agenda and lack of economic education, business skills and a determination and political ethos that will have us stuck with the debt we have now for generations to come.

We need to take politics out of this and take a good hard look at the merits based on fact.


Recent Share Investor Reading

• Freightways Ltd: 2011 Half Year Profit Commentary
• Share Investor Portfolio: Value @ 14 February 2011
• Allan Hubbard Saga: Supporters Risk Legal Action
• Telecom New Zealand 2011 first half profit reveiw
• Mark Hotchin Comes Out Swinging
• The Warehouse Group: Tips for the new CEO
• Share Investor's NZX Market Diary: 7 -14 Feb 2011

Discuss this Topic @ Share Investor Forum


From Fishpond.co.nz



Buy Every Bastard Says No - The 42 Below Story, by Geoff Ross & Justine Troy & more @ Fishpond.co.nz





c Share Investor 2011