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Wednesday, November 10, 2010

Allan Hubbard Saga: Going Feral - Part 2

Every good saga deserves a sequel, Star Wars, Indiana Jones, The Godfather, you get the idea.

Well this is the sequel to yesterdays first installment Paul Carruthers Goes Feral...Again.

Yesterday I was the main character who was taking moola from some mysterious benefactor to write my opinions on the Allan Hubbard Saga. Today though in Going Feral - Part 2, along with the payola implications are stories that I am a terrorist out to get my prey and there is a mysterious Russian after me.

I cant wait for part 3, Going Feral: The Wrath of Carruthers?

It is not a full moon, as far as I know, and neither is it a date with 3 sixes in it but I received an interesting reply this morning to a facebook exchange on an Allan Hubbard supporters page from one of the main ring leaders of the support group, Michelle Helliwell. She looks to be Paul Carruthers - the head spokesman for Allan Hubbard - right hand woman and seems to be taking her lead from him in terms of his feral like public relations style.

Of course little of what Michelle says below is even moderately close to any truth and some of it is indeed more than slightly paranoid, threatening and even a little creepy.

I mean, Russians under the bed somewhere ready to make a move on me.? Well, it would be an exciting escape from changing nappies on my 15 month old but I will stick to the crap from an infant rather than that hurled at me from a big grownup thanks very much mam.

On Allan Hubbard and his fate, there is a 5th Grant Thornton report due out at the end of November related to the statutory management of multiple failed Hubbard investment vehicles and a Serious Fraud investigation into the collapsed South Canterbury Finance, that lost almost $2 billion and was bailed out by the taxpayer.

The SFO investigation will be a long one as paperwork and crucial records are either missing or were not there from the get go and the complicated related inter-party lending on top of this makes for a mess only equaled by Mr Hubbard's fraudulent behavior.

We should see some information dribble out from the SFO case before Christmas.

Stay tuned!

Michelle Helliwell

It has come to our attention that you are responsible for the hateful Allan Hubbard page. You are a toxic terrorist on the support pages... and you are not welcome. Please go away.

On a positive note, I will thank you for making it so ob...vious internationally how much you hate Allan Hubbard (for no good reason other than Darren Rickard being on 'you know who' payroll). The battle between 'good' and 'evil' is becoming increasingly obvious.

Your attempts to slash Allans credibility in NZ has drawn attention from thousands that know Allan Hubbard internationally and you have made it so obvious how abhorrent you are by your bile.

Your attacks against Allan Hubbard are, and always have been, unjustifiably vicious. Your refusal to show your face in person is cowardly. You rip up the reputation of a man who doesn't own a computer on the internet... not very brave!

Allan Hubbard is incapable of dishonesty or fraud like no other person you have EVER met. Only an idiot would say otherwise. Your posts are imagination. Nearly all respect him and most love him.

By the way, I was asked about you in Auckland last weekend Darren. You have made a most unpopular impression on a certain Russian. We all suggest you voluntarily leave this page.

God bless, and goodbye.

Michelle Helliwell

Michelle, if you could give me Allan's contact details, I would only be too glad to let him have his say right here on this blog. It is an open invitation with no restrictions on what he wants to say.

A question and answer session would give him a right of reply to some of the things I and others have been writing about him.

Monday, November 8, 2010

From Xero to Hero?

In the last 3 weeks the stock price of Xero Ltd [XRO.NZX] (see one month chart above) has outstripped the rise in the NZX by 18% or 1000% more than the 2% rise on the NZX50 index (see chart below).

The stock price rose sharply after news on October 22 that an influential investor bought a large stake in the company but came back from that rise and evened out at the beginning of November.

Since then though the stock has risen from $1.65 to rise 15c to $1.80 at time of writing or just below 10%. This is an all-time high.

There has been nothing significant to report on developments over company progress so it looks like this is a case of the market getting carried away with itself.

Can the phantom Xero poster who keeps teasing me stop it please.

Xero @ Share Investor

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c Share Investor 2010

Allan Hubbard Saga: Paul Carruthers Goes Feral... Again

Head of the Allan Hubbard Supporters Group, Paul Carruthers, has been busy sending out emails about me to his loyal followers. Of course he is entitled to do that, I have been giving his hero Allan Hubbard a bit of shtick over his shell games with other people's moola so he will have strong opinions about me. Bring it on I say but at least be honest and attack the message rather than the messenger.

Paul's Email, not publicly released, leaked to me by a fan of mine:

Update for investors & supporters - the lies just keep getting bigger.....

Hello everyone,

As some of you know, Allan's autobiography is hitting the bookstores this week.

Darren Rickard - Allan's self-appointed public executioner, has referred to it in his latest call for his version of Sharia law to apply to Allan and his supporters.

His article can be viewed here: http://shareinvestornz.blogspot.com/2010/11/allan-hubbard-biography.html

As you can see - he has started by trying to convince people that Allan's supporters somehow managed to convince Random House and an author in the United States (Virginia Green) to write this book quickly since 20th June.

It was pointed out to me last night that Darren Rickard is being paid to drum up this kind of rubbish, but either way, it has to be one of the more desperate attempts to twist the facts to suit his 'story' that I have seen him come up with yet.

Sadly, the fact that Darren Rickard is allowed into the community is a consequence of the government's cuts to mental health funding.

Regards,

Paul Carruthers.
Stand by Hubbard
Support Team

My reply to Paul & his supporters:

I know most of his supporters read what I have to say so lets just get things straight.

1: The Book, tentatively titled, Allan Hubbard: The Life & Times of a Kiwi Legend, By Virginia Green, which you can buy from me here, (As a taxpayer I have to get my money back somehow and how delicious it will be to do that by selling this book) is not coming out this week, it will be released on Novemeber 15.

2: The book is a Biography, not an Autobiography. It has been written by Virginia Green and not Allan Hubbard.

3: I am not getting paid for this but I will be getting a free copy of the book to review from publisher Random House, so that is a clear lie but Mr Carruthers has a history of being adept at lying. These are merely my opinions based on the facts as I see them.

4: I have had minor mental health problems in the distant past, as many of us have, and I will let readers decide if I am mentally impaired or otherwise. I know some interesting things about Mr Carruther's personal life but I do not think it is my place to divulge them here or relevant to do so.

5: I never intimated the whole book was rushed but the last 2 chapters have been because they include the whole saga over Mr Hubbard's collapsed business empire. This is one reason why the book has been delayed for 10 days.

6: Sharia Law I would normally be disdainful of but the punishment for lying is the cutting out of the tongue but clearly Mr Carruthers still has his fingers so cant be stopped from writing rubbish like the above but the former nonetheless is still worth considering.

Should I have ignored this? Probably, but you Hubbard supporters and my dear readers need to know where this individual is coming from.

Cheers Deepthroat, Darren

Auckland Council look set for a Auckland Airport Takeover

With a total holding of 22.45% of shares in Auckland International Airport Ltd [AIA.NZX] the new Auckland City Council is by far the biggest shareholder in the airport company.

It disclosed its shareholding this morning after the amalgamation of the council and the two individual holdings Manukau Council and Auckland city used to have.

With a left leaning council this got me thinking about the possibility that the new council might want to buy more AIA shares. This happened when the former publicly listed Ports of Auckland was purchased by the ARC a few years back under the left wing Hubbard Auckland Council.

I went digging on the council website and found a document that outlines a new council stance on Auckland Airport that allows it to purchase additional AIA shares:

The council adopted the policy on Auckland Airport shares in September 2007 as an amendment to its 2006-2016 10-year plan and the policy was worded and structured accordingly. The policy is now part of, not an amendment to, the council’s 2009-2019 10-year plan and has been updated to reflect this. Some other minor edits have also been made.

The previous policy did not allow the council to buy shares or other securities in Auckland International Airport Ltd outside of a restructuring transaction. The council believes there are a few other scenarios where buying additional shares in the airport would be prudent and having the flexibility to do so, should such a scenario arise, would be beneficial.

Consequently, the policy on Auckland Airport shares, has been changed to enable the purchase of more shares in the airport subject to council approval, following rigorous analysis against the objectives and criteria outlined in the policy.

The rest of this document outlines the possibilities of a new ownership structure for the airport and points out options the council could take:

A change in ownership or control of some or all of Auckland City Council’s shareholding in Auckland Airport, or a restructure of the council’s interest in Auckland Airport, may take place by any of the options listed below, or by a combination of those options, or in any other ways that satisfy the six general assessment criteria set out later in this document.

Option 1: The council joins a consortium, which will execute a full or partial takeover or otherwise acquire a substantial stake in Auckland Airport. The council would achieve an ultimate stake of at least 12.75 per cent in the airport by taking shares, or other securities, in the consortium.

Option 2: The council agrees to Auckland International Airport Ltd merging with another company, exchanging the council’s shares in the airport for shares or other securities in the new entity (provided the council’s ultimate stake is at least 12.75 per cent of that new entity).

Option 3: The council agrees to Auckland International Airport Ltd being restructured so that its business units separate into stand-alone entities, with the council receiving a proportionate equity stake in one or all of the stand-alone entities (provided that the council’s ultimate stake is at least 12.75 per cent of the combined equity of the stand-alone entities).

Option 4: The council sells shares, or other securities, in Auckland Airport for cash or some other form of consideration, provided that the council’s ultimate stake in the airport is at least 12.75 per cent.

Option 5: The council buys shares or other securities in Auckland Airport.

Option 6: The council transfers its ownership stake in Auckland Airport to a holding company.

Auckland Council’s 34 Long-term Plan 1 November 2010 – 30 June 2019 - released 30 Oct 2010

It seems to me that the new council have allowed themselves to be open for a bid in some form for the Airport as whole.

This raises two important questions.

Considering that this is such an important asset why has this change in policy been kept secret by Len Brown and the Council?

Also as a substantial shareholder surely the council should have let the NZX know that their policy has changed for it is material to the market and would have an affect on the company and the whole market should know, not just the guardians of the 22.45% holding in AIA held on behalf of the Auckland ratepayers.

Footnote:

It has been pointed out to me by Matt Nippert from the NBR that it seems the document I described above is an update to a 2007 planning policy and he thinks I have overplayed my hand. I must point out though that the following part of the Oct 2010 policy, which has changed from the 2007 version, is the significant part of the story though:

The previous policy did not allow the council to buy shares or other securities in Auckland International Airport Ltd outside of a restructuring transaction. The council believes there are a few other scenarios where buying additional shares in the airport would be prudent and having the flexibility to do so, should such a scenario arise, would be beneficial.

Consequently, the policy on Auckland Airport shares, has been changed to enable the purchase of more shares in the airport subject to council approval, following rigorous analysis against the objectives and criteria outlined in the policy.

Disclosure I own AIA shares in the Share Investor Portfolio

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c Share Investor 2010

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Wednesday, November 10, 2010

Allan Hubbard Saga: Going Feral - Part 2

Monday, November 8, 2010

From Xero to Hero?

Allan Hubbard Saga: Paul Carruthers Goes Feral... Again

Auckland Council look set for a Auckland Airport Takeover

Think Bigger: How to Raise Your Expectations and Achieve Everything
By Michael Hill

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