Close up Video[July 22] Peters on the attack!

WATCH INTERVIEW Close Up: Winston Peters-22 July 2008 (7:01)



The TV One, Winston Peters interview,live from Singapore, by Mark Sainsbury today, was more of the same bluster and invective from an individual on the ropes and going down for the count.

Peters denied that he received more that $NZ10000.00 from the Vela family, even though the Dom Post have evidence that the family have gifted $150,000.00 to Peter's interests.

He attacked the media again and said the latest accusations were "lies" made up by the media.

Watch the manila folder flapping incessantly through the whole 7 minutes of the interview.

He is usually unflappable.

Peters ended the interview with a wait till I get home taunt to his accusers.

I cant wait.


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Peter's admits lying about Glenn donation
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c Political Animal 2008

Discretion was the essential part of Vela Donations

The better part of valor is discretion, in the which better part I have saved my life.
William Shakespeare (1564 - 1616), 'King Henry IV part I'

Well, Peters has been discreet, until found out by the NZ Herald and the Dom Post, but his fighting spirit in the face of political danger hasn't been for the better when it comes to his survival. Helen Clark's support of him is neither discreet or advantageous to her or her party.

In Parliament today Helen Clark defended Winston Peters (Video) to the hilt.

This is in spite of overwhelming evidence that Peters took secret money from Owen Glenn, spent NZ $45,000.00 of taxpayers money on his lawyer and accepted NZ$150,000.00 from the Vela Family, a wealthy family with interests in the racing and fishing industry.

Peters is the Minister for racing and gave tax breaks to the equine industry last year.

Giving backing for Peters leaves Helen Clark in a difficult position. In supporting him she has given approval for his behaviour and as he is part of the minority government it is really incumbent on her to make a move on Peters to remove him from his position.

She has done it with countless MPs over the years who have strayed from legal or moral lines and there have been many.

However, her Party relies upon Peters to support Labour's wafer thin grip on Parliament so it is unlikely she will do anything unless she has to.

It could lead to an early election if she puts Winnie's nose out of joint.

Coming on top of secret donations from Owen Glenn to Labour, revealed earlier this year, and Labour and NZ First campaigning heavily on secret donations in relation to their passing of the Electoral Finance Act, Ms Clark has a orgasm of egg all over her face given her support for her Partner in Parliament, Mr Winston Peters.


Related Political Animal Reading

Winston Peter's Glenn donation scandal: But wait, there is more!
Peter's hangs himself in February Paul Henry Interview
Peter's admits lying about Glenn donation
Winston's silence is telling
Labour gets tangled in Peter's lies
Leaked Glenn Email
Winston got secret donations from Owen Glenn

NZ Herald Link

Helen Clark defending Winston Peters in Parliament today-Video

c Political Animal 2008

Winston Peter's Glenn donation scandal: But wait theres more!

Seems the Dom Post has been digging for gold over the Winston Peters secret donations scandal as well as the NZ Herald, who kicked it all off a week ago.

The latest revelation is that Peters has received money from the Vela family, owners of large fishing and racing interests in New Zealand.

It is thought that the Vela Family could have given up to NZ$150,000.00 and it hasn't been disclosed and must be. Donations have been made in amounts under $10,000.00 so don't have to be disclosed when made separately. Again big money going to a politician who has campaigned against the National Party for doing similar things.

The donations do not appear in NZ First's annual declarations to the Electoral Commission. A clear breach of electoral law if it is true.

The Dom Post hasn't made a direct comment on the fact that Peters has had donations from a family deeply involved in the racing industry while at the same time Peters is the Minister for racing. Political Animal will. That is corruption at the highest level, even if Peters latest donations are legal.

A second revelation by the Dom Post has been that Mr Henry, Peters Lawyer, also received at least $45,000 for legal services - paid for by Parliamentary Service funds last year.

Winston has replied in typical fashion that taxpayer money has been used to pay his legal bills:

"That is a lie."

MPs Rodney Hide and Gordon Copeland have taken a breach of privilege over Peter's secret Glenn donations to the speaker of the house, Margaret Wilson, while John Key asked Winston to apologise for misleading the public, too soft for my liking, and our great leader, Helen Clark, backs Winston all the way - why wouldn't she, her party has been arse deep in the same sort of corrupt practices.

In characteristic political fashion, something he has no doubt learnt from Helen Clark, Peters is leaving the country on another bauble filled junket.

He hasn't given a press conference, as is his want, to clear things up, so will get away with commenting until he gets back.


Related Political Animal Reading

Peter's hangs himself in February Paul Henry Interview
Peter's admits lying about Glenn donation
Winston's silence is telling
Labour gets tangled in Peter's lies
Leaked Glenn Email
Winston got secret donations from Owen Glenn

c Political Animal 2008

Why did you buy that stock? [Kiwi Income Property Trust]

Kiwi Income Property Trust [KIP.NZ] was an addition to my portfolio earlier this year.

I wanted direct exposure to the commercial property market without actually buying a building outright.

Kiwi first came onto my horizon when I noticed they had ownership of the 40 level Vero office building in Downtown Auckland, and then my interest was piqued when their Sylvia Park shopping centre in Mt Wellington opened.


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That is all I knew about the company. I like what I saw in its two high profile assets and went digging a little further. Kiwi have a good mix of quality properties, shopping centres and office buildings from Auckland down to Christchurch, among them; Northlands Shopping Centre, Centre Place Shopping Centre, North City Shopping Centre, The Plaza Shopping Centre, Downtown Plaza Shopping Centre, Langdons Road, PricewaterhouseCoopers Building, The Farmers Building and Countrywide Building.

In a property company one of the number one things an investor should look for is good quality assets. For me Kiwi fit the bill, so that for me is the main reason for me to make my small purchase of shares.

Coming a close second is management. Good properties are only going to get good returns over a long period if they are managed well and Kiwi property certainly is.

Since its creation in 1993 the company assets have grown to over NZ $2 billion, it has a great occupancy rate for its properties and it increased profit to just over $63 million in 2008, from just under $48 million last year.

The mix, age, quality of construction and geographical spread of assets show how good management have planned ahead.

The Sylvia Park shopping centre is a case in point. New Zealand's largest retail centre, it has room and space to grow and has over delivered in terms of initial expectations.

The only problem that they have had, and this seems endemic with shopping centre planners, they under estimated the need for car parking, something they are now remedying with a multi story car park now under construction.

Now another reason I bought this stock was that it was cheap in comparison to its share price high, at just over $1.70 per share, and its net asset value to capital market price. Its current market cap of NZ$872 million is less than the net asset value of just over $1.1 billion, so I had to buy.

In the Why did you buy that stock? series I have to ask myself if I would still buy today. At the current share price of $1.13 it represents excellent value and I would like to add some more, should my wife stop taking me off overseas and making me pay for it!


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c Share Investor 2008