Tuesday, September 23, 2008

Disclosure: Tranz Rail Shares

I have to say, given my passion for investing-some readers of Political Animal might know I write about investing and business on my Share Investor Blog -I like to dot the "I's" and cross the "T's" when it comes to disclosure.

John Key should have disclosed his Tranz Rail share holdings at the right time, whatever the size of the holding.

Having said that if I was questioned on the spot I couldn't accurately tell you the correct holdings of my portfolio.

The Tranz Rail holdings relate to historical holdings as well, with shares being bought and sold. I have done the same and my estimations on the spot would be even worse than my first scenario.

Key's total holdings were also complicated by the fact that there were shares held in his family trust as well.

Key hasn't benefited monetarily in any way over his Tranz Rail holdings, in fact he appears to have lost over $100,000 on the deal.

Cullen calling him a liar was rich, we know who has been lying and it isn't Key.

This fuss made by Labour brings Jeanette Fitzsimmons conflict of interest with her share holding in Windflow Technology back into focus. Her shares are probably held through a family trust, and her and the Prime Ministers advocating for wind technology, and changing laws to benefit that industry are a definite conflict.

It would be interesting to see what other ministers have conflicts of interest relating to financial interests. There will be many.

c Political Animal 2008

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