Friday, September 12, 2008

The Mad Greens!!




This movie isn't a spoof, it is about brainless greenies crying and wailing over dead trees.

This is pertinent to New Zealand because we have the same sort of zealots in the New Zealand Green Party who want more tax from you for your heathen polluting ways!

Jeanette Fitzsimmons and her Luddite mates spearheaded the Emissions Tax Act that was rushed through under urgency earlier this week. Those toss pots in Labour like Helen Clark and David Parker follow close behind in the Green agenda.

It is law passed to heap all sorts of eco taxes on Kiwis, because of the myth that "our planet is warming" and human beings are responsible-this is a bald faced lie.


The extra taxes mean thousands of dollars of extra tax for kiwis every year, a stagnant economy and eventual economic collapse when the carbon trading market is exposed for the fraud that it is.

Watch the video and remember when you are watching it that the New Zealand Green Party is just as mad and also remember that these creatures also want your vote this year.

Pleeeesssse don't do it.


c Political Animal 2008


Remembering 9/11


It was a scene that I will never forget, it is etched in my mind with the clarity of 5 minutes ago.

The sight of those planes flying into buildings that I had marvelled at since I was an 8 year old kid was a shock initially, then I couldn't stop crying for those poor souls trapped in the aftermath.

The feeling that I and most individuals had when they realised that this was actually real, it wasn't a movie and it was history unfolding before our very eyes, was one of disbelief.

Let us remember those who perished 7 years ago today in The World Trade Centre, the Pentagon and the innocent victims on the planes that were flown into those targets.

Most will be fondly remembered and missed dearly by those family members left behind and my thoughts are with you and with those that you lost.

Let us always remember the heroes and never ever forget the reason why so many died on that day.

Above all let us not live in fear of those that would try and do the same again.

Let us also remember those brave souls who have fought and died since that horrible day defending our freedoms.  

May the victims of the 9/11 mass-murder rest in peace.

c Political Animal 2008

Thursday, September 11, 2008

POLITICAL ANIMAL SCOOP: Election day date announced

In the first scoop for The Political Animal Blog, I can officially announce the date of New Zealand's 2008 Election.

The Labour Party Blog The Standard has just leaked the election day date, inadvertently one would think because Helen Clark, the Prime Minister, usually keeps a tight reign on these sorts of things.

Have a gander, sign up, use the resources at the Campaign Hub, or just get into it. It’s only 58 days until the election, make it count.

If my maths is correct that makes election day November 8.

A great distraction from the Owen Glenn donation political scandal that is currently facing Clark and Labour.

And "Steve Pierson" says the Blog is not Labours.

Yeah right!!

c Political Animal 2008

Helen Clark esablishes a new low for politics

Only in banana republics and dictatorships in places like Africa, the Pacific Islands and South America do immoral, illegal and corrupt politics exist.


New Zealand was added to that ignominious list when the Electoral Finance Act was introduced on Jan 1 2008 but now with the Peters/Glenn/Clark donation scandal the banana bends just that much further.

We have a leader, Helen Clark, who supports a Minister, Winston Peters, who holds the Foreign Affairs Portfolio, that is being investigated for fraud by the Police and Serious Fraud Office and is also under investigation by the Privileges Committee for not disclosing a $100,000 donation made to him by Owen Glenn.

Furthermore, Peters has been caught out lying over each count made against him under ministerial oath to Parliament, The Privileges Committee, Helen Clark and ultimately every New Zealander.

Then we have a Prime Minister, caught out lying about her involvement in the Glenn donation scandal.

What does the Prime Minister do to the offending Minister?

He isn't sacked, continues to receive the baubles of office: Limos, office staff, salary and expenses.

Why?

Because Helen Clark wants to stay in office for as long as she can, pass fraudulent laws like the Emissions Tax Act and protect an allie for a possible partnership after the next election.

You see Peters is able to use all these accoutrement's to help him retain a place in Parliament.

Aunt Helen is also petrified over some of the secrets he might spill over the Owen Glenn donation saga; what her and the Labour Party President, Mike William's real involvement was.

Because they are not giving the full picture.

It is clear from all this that even though your party might be facing a donation scandal, you and or your minister is donkey deep in it all and there have been lies told to cover up the whole scandal, because it is politically expedient to do so, Clark will do nothing.

As usual, nobody is taking responsibility, nobody is paying a price for despicable and illegal behaviour and all for the sake of our Prime Minister's lust for power.

We all deserve honesty from our leader and her parliamentary allies but we are not getting it.

The banana bends even further in New Zealand but at least the established banana republics that I referred to above have a way of removing corrupt governments.

Is time for a riot?

At the very least it is time for an election. 


c Political Animal 2008

Labour's failed social experiment, South Auckland, erupts: Again

The Labour Government social welfare experiment that is South Auckland has claimed another victim.


This time an innocent cop, shot dead, not just shot but chased and then murdered.

It begs the question why they had to run in the first place, they clearly were not armed but should have been.


Plainclothes police officer chased and shot dead: Police at the scene in Mangere, Auckland, this morning. Photo / NZPA

Police at the scene in Mangere, Auckland, this morning. Photo / NZPA

A plainclothes police officer was disturbed during an operation early this morning, chased in a car and then shot dead. The officer's colleague was also shot and is in hospital with non-life threatening injuries. The two officers were attempting…More



Clark's lie central to Glenn donation scandal

It wasn't the actual break-in that cost "Tricky Dicky" his presidency in 1973 but the cover-up that brought his government down.


A similar focus of light should be shone on Helen Clark and her knowledge of the $100,000 donation back in December 2005, when the Labour Party President, Mike Williams, helped execute the loan to Winston Peters for his legal case in the Tauranga seat after the 2005 election..

We know that Williams and Clark are self confessed best friends, we also know they are in constant contact via phone or email and we are all aware that Mike Williams gives all information to her leader-in fact she insists on being fully informed, what she called a "no surprises" way of governing.

It is beyond the realm of possibility and past history that Ms Clark didn't know about the loan from its genesis.

The question is why did she not come forward in February 2008 when the donation scandal broke and only tell the public of her knowledge in August but then say "I knew about the donation in February 2008".

She omitted to reveal what she knew about the scandal in February 2008, then clearly lied about the timing in August.

One has to ask what more is she hiding, more donations scandals, evidence of her or Labour's deeper involvement? We just dont know.

We don't know because our journos are too gutless to ask her the hard questions. They are afraid of her.

Kiwis need to know of her part in the cover-up and her or Labour's involvement in the donation itself.

Not to know is akin to the running of tenuous democracies in Africa, the Pacific Islands and the current turmoil occurring in Thailand.

Kiwis wont be protesting about their crooked lying Prime Minister like the Thai people currently are but where is our Woodward and Bernstein when it comes to the likes of exposing our own "Corrupt Clark"?

The case for The Warehouse without a buyer

The Warehouse Group Ltd [WHS.NZ]has been embroiled in several takeover attempts over the last 18 months or so.

The company has been at the center of bids from Woolworths Australia, Foodstuffs, the New Zealand grocers cooperative and the majority owner and founder of the company, Stephan Tindal.

Of course we all know all this takeover activity is on hold while Woolworths take the battle to The Supreme Court.

In the meantime the capital value of the company has halved and the retail sector, including The Warehouse, has been hit by a recession.

What investors have to ask themselves is, what is the company worth and what are its prospects for the long term if the status quo remains and the company is not merged or bought by a new owner.

Without a doubt, The Warehouse is the major player in the New Zealand retailing sector. It is the largest non food retailer, only Foodstuffs and Woolworths are larger, and it is dominant in most areas of retailing including: clothing, books and CDs, gardening and a whole host of other non grocery items.

The company has an enviable position as a company with great logistic capabilities and "on time' delivery of stock, important in the low margin area in which they operate and their geographical spread across the country, in some of the best malls and stand alone shopping districts, solidifies their logistical capabilities.

The name the Warehouse is also a great brand, well known, backed by frequent advertising and often the first choice for consumers when they think about buying any non grocery item.

A good history of trading also makes the company a good long term prospect in the future.

Interestingly, when you look at the historical trading activity of the company in terms of sales when compared to today and in the light of the current share price the figures are curious.

If I pick a date the earliest I can find, Jan 3 2003, the share price for The Warehouse closed at NZ$7.10 for that day.

Revenues for the full year 2003 (PDF) were slightly over NZ 2 billion dollars, approx 1.5 billion if you strip out Australian sales- the figure relevant for my comparison because The Warehouse OZ no longer exists.

A closing price of just $3.23 on 9 Sep 2008 and the most recent half year sales to January 27 2008 of $852 million (PDF)-estimated $1650 million for full year 2008 show a big drop in share price to sales from 2003 to 2008.

Net profit for full year 2003 was $82.1 million and after-tax earnings for the year ending July 27 2008 are expected to be between $84 million and $88 million, in the toughest retail environment in New Zealand for a generation.

Profit and sales will presumably increase as the retail sector inevitably improves.

The significance then of the difference in what the market puts as the capital value of the company today when compared to 2003 is obvious. It has been unduly marked down, as many listed New Zealand retailers have.

Sales are up and so is profit from 2003 but the market has given up.

Even without the prospect of The Warehouse being bought on the horizon, the capital value of the company is way below that of what it should be, the facts and figure comparisons reflect that.

The fact that 3 different suitors are interested in buying the company means that they can see the value in the company as well. All the advantages that The Warehouse hold in New Zealand retail are the reasons why others want a piece of The Warehouse action.

Long term investors in New Zealand retail stocks would do well to consider buying shares in the Warehouse to capitalise on the current low share price and tough retailing conditions.

In my opinion it will be one of the better performers long-term amongst our listed retailers.

The Warehouse full year result to July 27 2008 is due out 12 September.


Disclosure: I own WHS shares in the Share Investor Portfolio


The Warehouse Group @ Share Investor

Long Term View: The Warehouse Group Ltd
Share Investor Short: Warehouse Group yield worth a look
The Warehouse Group: 2010 Interim Profit Review
The Warehouse: Big Brands, Big Opportunities
Warehouse strike opportunity to buy
Long Term Play: The Warehouse Group
Share Investor Short: Warehouse Group yield worth a second look
Woolworths supermarket consolidation an indicator of a move on the Warehouse?
Stock of the Week: The Warehouse Group
Warehouse 2009 interim profit a key economic indicator
When will The Warehouse bidders make their move?
Long vs Short: The Warehouse Group
Warehouse bidders ready to lay money down
The Warehouse set to cut lose "extra" impediment
The Warehouse sale could hinge on "Extra" decision
The case for The Warehouse without a buyer
Foodstuffs take their foot off the gas
Woolworths seek leave to appeal to Supreme Court
Warehouse appeal decision imminent
Warehouse decision a loser for all
Warehouse Court of appeal decision in Commerce Commission's favour
MARKETWATCH: The Warehouse
The Warehouse takeover saga continues
Why did you buy that stock? [The Warehouse]
History of Warehouse takeover players suggest a long winding road
Court of Appeal delays Warehouse bid
The Warehouse set for turbulent 2008
The Warehouse Court of Appeal case lay in "Extras" hands
WHS Court of Appeal case could be dismissed next week
Commerce Commission impacts on the Warehouse bottom line
The Warehouse in play
Outcomes of Commerce Commission decision
The fight for control begins soon

Discuss WHS @ Share Investor Forum - Register free

Download WHS company reports

Shop online at The Warehouse


Buy Toughen Up: What I've Learned About Surviving Tough Times

Toughen Up: What I've Learned About Surviving Tough Times

Toughen Up - Fishpond.co.nz





c Share Investor 2008

Wednesday, September 10, 2008

Winston Peters testimony to Priveleges Committee (UPDATED)

UPDATED: Peters contradicts Glenn's evidence: Tonight's privileges committee hearing represented Winston Peters' last chance to save his political career. Photo / Mark Mitchell

Tonight's privileges committee hearing represented Winston Peters' last chance to save his political career. Photo / Mark Mitchell

New Zealand First leader Winston Peters tonight directly contradicted evidence given to Parliament's privileges committee yesterday by Owen Glenn. The expatriate billionaire told the committee Mr Peters solicited a $100,000 donation in December 2005…More

VIDEO: John Campbell questions Owen Glenn




You may not like the big ears and bigger leftist icing on the political cake but this interview is good because the subject makes it so.

Owen Glenn answers some rather predictable questions from John Campbell but gets some excellent and revealing answers from this rather generous man.

It is compulsive viewing if you are following the Owen Glenn/Peter's donations saga.



c Political Animal 2008

Winston Peter's testimony lacking Baubles


Winston Peters has given his usual bluster and bluff at tonight's Privileges Committee hearing into the Owen Glenn donation scandal.

He has called Owen Glenn a liar, without actually using the word "lie", has provided conflicting information Owen Glenn's testimony yesterday and introduced spin and accusations-all without corroborating evidence.

His demeanor was unusually quiet pensive and bumbling at times. He seemed to have been de-baubled somewhat and may be completely tomorrow as Helen Clark looks set to sack him.

There were however flashes of the old battler in parts of his testimony.

Clark and her Labour party President Mike Williams have also been implicated deeper into the donation scandal. Glenn ascertained yesterday that Mike Williams arranged the donation and that Clark had been aware in December 2005 not February 2008.

Related Political Animal reading


c Political Animal 2008

NZ HERALD: Owen Glenn press conference

The press conference at the Hilton at 10.00am today that reinforced Owen Glenn's assertions against Winston Peters given at the Privileges hearing yesterday.




Owen Glenn with his executive assistant Laura Ede at today's media conference. Photo / Brett <span class=

Owen Glenn with his executive assistant Laura Ede at today's media conference. Photo / Brett Phibbs

Updated 2:09PM Wednesday September 10, 2008

By Edward Gay

Labour Party president Mike Williams denies he sought a job from Owen Glenn earlier this year. Mr Glenn today claimed Mr Williams had asked him for a job when he visited him on his yacht in France in July this year. "You're going to love this," Mr Glenn told a press conference in Auckland this… More

NZ HERALD: Peters/Glenn saga wrap



A wrap of yesterday and this mornings coverage of the Peters/Glenn Donation saga from the New Zealand Herald. 


Including breaking stories and new information about Labour Party president Mike Williams deeper involvement.


Dramatic damning evidence against Winston Peters was provided by Owen Glenn yesterday.


Phone records, affidavits and written evidence backing Glenn's continued claims that he gave $100,000 to Peters and that Peters had been aware of that donation back in 2005 when he solicited it,  in July 2008, as he has ascertained.


Today Peters will give his rejoinder to the Privileges Committee to Glenn's statements made yesterday and he will have to spin and or fight the hardest he has ever fought for his political future.


Peters donation row website






Phone records contradict Peters: Owen Glenn. Photo / Mark Mitchell

Owen Glenn. Photo / Mark Mitchell

Crucifix at hand as Glenn enters the lions' den

A tiny crucifix sits on the desk in front of Owen Glenn. It is wooden with a silver Christ and is the first thing he gets out when he sits down and the first thing he picks up… More

Peters makes donation admission 

4:00AM Wednesday September 10, 2008

By 
Patrick Gower

Winston Peters has for the first time admitted some knowledge of the Spencer Trust and its $80,000 donation…More

Glenn's version: How the deal was done

4:00AM Wednesday September 10, 2008

By 
Patrick Gower

AUGUST 12, 2005 Winston Peters and Mr Glenn meet for the first time in Sydney before Bledisloe Cup test. Meeting was asked for by Mr Peters' adviser Roger McClay. Mr Glenn consulted Labour Party… More



c NZ Herald & Political Animal 2008

Phone records contradict Peters 

Monaco-based businessman Owen Glenn presented compelling evidence at Parliament yesterday suggesting New Zealand First leader Winston Peters has lied over what he knew of the billionaire's $100,0000 donation. Mr Glenn arrived at the privileges committee…More

Tuesday, September 9, 2008

Mike Williams knew of Glenn donation in 2005, did Clark?

In  an admission by Owen Glenn today he has revealed that he had consulted with Labour Party president Mike Williams before contributing $100,000 to New Zealand First/Winston Peters so it would not be seen by Labour as "being unhelpful to its own interests".


This is interesting because it marries up with the fact that Williams boss, Helen Clark, knew about the Glenn donation back in February. 

Both Clark and Williams therefore withheld sensitive damning evidence from New Zealanders to preserve Clark's Government.

It also begs the questions did Williams tell Clark about the donation in 2005? It is not Helen Clark's style not to know everything going on regarding her party. She simply demands complete control and it defies logic and her political history for her not to have known about the Glenn donation, in 2005.

It is time Clark was forced to give evidence in her defence about what she knew and when she knew it before the Privileges Commission.

Kiwis wanna know before an election.

Williams begged Glenn for a further contribution to the Labour Party less than 2 months ago.

c Political Animal 2008

BREAKING NEWS: Horse trainer backs Glenn's version in donations row

Owen Glenn fronted the Privileges Committee to defend his reputation over the NZ First donations scandal. Photo / Mark Mitchell

Owen Glenn fronted the Privileges Committee to defend his reputation over the NZ First donations scandal. Photo / Mark Mitchell

Updated 4:06PM Tuesday September 09, 2008
By Patrick Gower and Claire Trevett

Melbourne Cup winning horse trainer Paul Moroney has backed up Owen Glenn's version of events in the New Zealand First donations row.

Mr Moroney said in an affidavit to Parliament's Privileges Committee today that he was at a lunch at Karaka in 2006 at which Winston Peters thanked Mr Glenn for his help.

continued at NZ Herald

Hell hath no fury like a donor scorned

The biggest donor to the Labour Party, Owen Glenn, will give evidence to clear his name today when he goes into a Privileges Committee hearing in relation to the $100,000 donation he gave to Winston Peters and NZ First.


He has been travelling for near two days, has been taken away from his business at hand and he must be absolutely pissed-with Winston Peters and the Labour Party.

Peters and Labour have been royally slagging off Glenn's reputation with an orchestrated smear campaign in order to discredit his character and reputation. 

Accusations of Glenn's mental capability, memory and stability have been spread by Trevor Mallard, the bully boy of the Labour Party.

Glenn has been a donor to several causes in New Zealand, to the tune of multi millions of dollars, including the Labour Party but Clark or any other member of her party will not even meet with him.

He now clearly regrets supporting Labour and Winston Peter's party and will avenge his good name this afternoon.

c Political Animal 2008



Blood Brother unwilling to give in Glenn donation saga

D day has come for Winston Peters and the details over his donation from Owen Glenn, made to him or his party or his lawyer-the story is different whoever you talk to and what time of day it is.


The Privileges Committee sits this afternoon where Owen Glenn will give his version of events, which haven't differed in all his accounts.

Glenn has said he is there to "clear his name" whatever the consequences for the players and I don't blame him for his bluntness. He is a busy man.

The missing link in all of this though appears to be Peter's lawyer Brian Henry, Peter's "blood brother".

Henry is "overseas" and it is unclear as to whether he will be giving evidence in Peters defence tomorrow when the Privileges Committee sits again with Winnie giving his newest version of events, again.

I cant understand why a person that is supposedly at the centre of this whole scandal-Peters and Henry contend it was Henry that was the bag man, while Glenn has given affidavits that it was Peters-and a self confessed "blood brother" of Peters wouldn't be there in Winnies hour of need.

I'm guessing he isn't because his testimony would be deleterious to Peters than it already has been.

c Political Animal 2008


US TREASURY PRESS RELEASE: Fannie Mae and Freddie Mac

Share Investor Forum-Discuss this topic

The following information is a press release from the US treasury less than 30 minutes ago.


It defines effectively that the US Government(taxpayer) is taking control of Fannie and Freddie.

It means that half of all US mortgages are now State managed and backed.

It also means that the private housing market in the US has collapsed-the taxpayer bailing out the company doesn't mean it hasn't, whatever US Government officials are telling Americans, and the rest of the world for that matter.

It is important that investors re-assess their investments at this juncture and structure them according to the risk and current economic climate in view of this latest news.

WASHINGTON (Sun Sep 7, 2008 12:57pm EDT) The following is the full text of a statement released on Sunday by Treasury Henry Paulson on mortgage finance companies Fannie Mae and Freddie Mac: Good morning. I'm joined here by Jim Lockhart, Director of the new independent regulator, the Federal Housing Finance Agency,

FHFA. In July, Congress granted the Treasury, the Federal Reserve and FHFA new authorities with respect to the GSEs, Fannie Mae and Freddie Mac. Since that time, we have closely monitored financial market and business conditions and have analyzed in great detail the current financial condition of the GSEs including the ability of the GSEs to weather a variety of market conditions going forward. As a result of this work, we have determined that it is necessary to take action.

Since this difficult period for the GSEs began, I have clearly stated three critical objectives: providing stability to financial markets, supporting the availability of mortgage finance, and protecting taxpayers both by minimizing the near term costs to the taxpayer and by setting policymakers on a course to resolve the systemic risk created by the inherent conflict in the GSE structure. Based on what we have learned about these institutions over the last four weeks including what we learned about their capital requirements and given the condition of financial markets today, I concluded that it would not have been in the best interest of the taxpayers for Treasury to simply make an equity investment in these enterprises in their current form.

The four steps we are announcing today are the result of detailed and thorough collaboration between FHFA, the U.S. Treasury, and the Federal Reserve. We examined all options available, and determined that this comprehensive and complementary set of actions best meets our three objectives of market stability, mortgage availability and taxpayer protection. Throughout this process we have been in close communication with the GSEs themselves. I have also consulted with Members of Congress from both parties and I appreciate their support as FHFA, the Federal Reserve and the Treasury have moved to address this difficult issue.

Before I turn to Jim to discuss the action he is taking today, let me make clear that these two institutions are unique. They operate solely in the mortgage market and are therefore more exposed than other financial institutions to the housing correction. Their statutory capital requirements are thin and poorly defined as compared to other institutions. Nothing about our actions today in any way reflects a changed view of the housing correction or of the strength of other U.S. financial institutions. I support the Director's decision as necessary and appropriate and had advised him that conservatorship was the only form in which I would commit taxpayer money to the GSEs. I appreciate the productive cooperation we have received from the boards and the management of both GSEs. I attribute the need for today's action primarily to the inherent conflict and flawed business model embedded in the GSE structure, and to the ongoing housing correction.

GSE managements and their Boards are responsible for neither. New CEOs supported by new non-executive Chairmen have taken over management of the enterprises, and we hope and expect that the vast majority of key professionals will remain in their jobs. I am particularly pleased that the departing CEOs, Dan Mudd and Dick Syron, have agreed to stay on for a period to help with the transition. I have long said that the housing correction poses the biggest risk to our economy. It is a drag on our economic growth, and at the heart of the turmoil and stress for our financial markets and financial institutions. Our economy and our markets will not recover until the bulk of this housing correction is behind us. Fannie Mae and Freddie Mac are critical to turning the corner on housing.

Therefore, the primary mission of these enterprises now will be to proactively work to increase the availability of mortgage finance, including by examining the guaranty fee structure with an eye toward mortgage affordability. To promote stability in the secondary mortgage market and lower the cost of funding, the GSEs will modestly increase their MBS portfolios through the end of 2009. Then, to address systemic risk, in 2010 their portfolios will begin to be gradually reduced at the rate of 10 percent per year, largely through natural run off, eventually stabilizing at a lower, less risky size. Treasury has taken three additional steps to complement FHFA's decision to place both enterprises in conservatorship. First, Treasury and FHFA have established Preferred Stock Purchase Agreements, contractual agreements between the Treasury and the conserved entities.

Under these agreements, Treasury will ensure that each company maintains a positive net worth. These agreements support market stability by providing additional security and clarity to GSE debt holders senior and subordinated and support mortgage availability by providing additional confidence to investors in GSE mortgage backed securities. This commitment will eliminate any mandatory triggering of receivership and will ensure that the conserved entities have the ability to fulfill their financial obligations. It is more efficient than a one-time equity injection, because it will be used only as needed and on terms that Treasury has set. With this agreement, Treasury receives senior preferred equity shares and warrants that protect taxpayers. Additionally, under the terms of the agreement, common and preferred shareholders bear losses ahead of the new government senior preferred shares.


Related Share Investor Reading

Not so sweet Fannie Mae
Global credit squeeze: There is no free lunch
Lenders must come clean over losses to restore faith in credit markets

Global Market meltdown: What is Warren Buffett doing?
Credit crunch a blessing in disguise
Market meltdown: I can smell the fear from here

Mr Market gets his groove on
What happened to risk?
State backed Sub Prime mortgages in New Zealand
The global economy looks bad now, but wait theres more
NZ Sharemarket set for a Winter and Summer of discontent


c Share Investor 2008


Lack of interest over donation scandal?

According to Helen Clark today, nobody in New Zealand is the least bit interested in the Winston Peter's donation scandal, a donation scandal that directly involves Clark and therefore her fascist socialist Labour Government.


It is the same line taken by the Labour Party Blog The Standard, who like to deny the seriousness of the Glenn/Peters/Clark Payola scandal and "move on" so they can perhaps discuss the finer points of saving transgender gay whales who wear scandals and who vote Labour. 

The public are supposed to move on?

This in the light of the most exciting week in the scandal, in this banana republic we call New Zealand.

Today the police were added to the mix and they will investigate Peters and donations made to him or his NZ First Party in 2007 and undeclared.

This is in addition of course to the Serious Fraud Office Case into yet more dodgy behaviour and the big daddy of them all the Privileges Committee hearing into a $100,000 secret donation to Peters from Owen Glenn.

Owen Glenn arrived in New Zealand today to give evidence at tomorrows privileges hearing.

I and millions of other kiwis are finding this very interesting and will not move on, and neither should we.

It is a very serious matter, of a constitutional nature and our Prime Minister has omitted to admit her central part in it and what she knows about the Glenn donation.

Tomorrow we are likely to see some direct evidence from Glenn and if there is any new information to be revealed that further implicates Peters watch for more public displays of derision by Labour ministers at Owen Glenn-their biggest donor.

I will be riveted.

Monday, September 8, 2008

Lets drink to Delegats

The good result from Delegats Group Ltd [DGL.NZ] last week got me thinking about a new future star of the NZX.

I'm not sure if it will be Delegats, they are but one major Kiwi wine maker, but the New Zealand wine industry is going to play a much bigger part in our economy as time goes on and industry players will want to get their hands on funds with which to expand their businesses.

Consolidation of a number of smaller Kiwi players to get economies of scale to compete with much larger international wine labels will also need to occur.

Some of the funds needed to expand these businesses will be obtained from borrowing money from banks and some could raise funds by listing on the NZX.

If we look at Delegats they seem to have approached their model of business in a most appropriate way.

While reasonably large in terms of cases sold, at $165.3 million or 1.4 million cases, by New Zealand standards, that figure pales into a rose' compared to international wine makers outputs.

Delegats have been clever though. They realise wine volume on an international scale will never be achievable from New Zealand, so they have gone for the "upper end" and have their own niche in the branded market, with their Oyster Bay label.

Apparently a good quality wine-maker(I cant tell the diff between a Carafe of house red Lafoot from a Château Lafite) Delegat's Oyster Bay holds the number one New Zealand wine category position in the large export markets of Britain, Australia and Canada.

In a world where good wine makers are a dime a dozen Delegat's brands will do them well as they grow and allow them to sell their product at a premium price.

In 2008 the New Zealand wine industry had record export sales of $800m, a 14 per cent increase over 2007 and the industry as a whole expects to grow to $1 billion within the next few years.

Delegats were able to increase their exports by 20%, with the premium end of their sales probably responsible for that increase.

While there are obvious threats to agricultural businesses like wine growers-bad weather equals a bad year-the good management at Delagats, headed by Managing Director Jim Delegat seem to have planned well for inclement weather.

The mad hatters who are pushing the "climate change" industry and its associated taxes are also a growing threat to our Kiwi wine makers.

Delegats have a wide geographical spread of wineries, in North Islands Hawkes Bay, where a massive push into premium wines is in play, and where this writer is from, and Marlborough, a longer established wine region.

The Hawkes Bay and Marlborough regions hold the most promise, in my uneducated opinion, for a good future winery business to need more capital for expansion, buying more vineyards and establishing a brand for export and indeed local consumption.

There are however a number of wine regions in New Zealand, from mainland Auckland, through Gisbourne, down through Nelson and Marlborough, Canterbury and Central Otago and even Waiheke Island, with 26 vineyards on a very small Island in Auckland's Hauraki Gulf, is fast establishing their own unique viticulture community in a micro climate a few degrees warmer than Auckland itself.

The long established family winemakers, Nobilo, Delegats, Villa Maria and Vidals have tended to expand their businesses through profits and some vineyards and winemakers have been gobbled up by multinational drinks conglomerates looking for a brand or business in this new world of wine making down here in the South Pacific.

Stockmarket investors should keep a look out for the opportunities to invest in this sector of our economy, through future IPOs and capital raising's.

A part share in a good start up winery, in a good area, with a good vintner that you know well would be a good long term investment.

Even Delegats might be worth a punt.


Related Links

Full 2008 profit report 336 kb PDF (requires registration to download)
Delegats Group
Nobilo Wines
Vidal Wines

Discuss Delegats @ Share Investor Forum


Related Amazon Reading

The Complete Idiot's Guide to Starting and Running a Winery
The Complete Idiot's Guide to Starting and Running a Winery by Thomas Pellechia
Buy new: $12.89 / Used from: $7.91
Usually ships in 24 hours


c Share Investor 2008

Saturday, September 6, 2008

KiwiRail rolls out cutting edge technology

For two decades it sat rusting in a museum, a memory of days gone by just after WW2.


The train was built in 1949 and is the centrepiece of KiwiRail's commuter service in Wellington.

In a few weeks, the ancient electric train will return to the rails for the first time in 23 years to "ease pressure" on the Hutt Valley line.

There is talk of resurrecting steam trains from the Museum of Transport and Technology in Auckland to allow the 3 people who currently use the train in West Auckland to "travel like they used to in the old days".

The three commuters in question, all over 85 years old, were asked by KiwiRail management, what would it be like to "travel like they used to", Mildred Clarke replied, "it would be lovely, but when you used the term like they used to dear, we had no idea they were the same trains we were going to school in over 70 years ago son".

The age of steam has surely arrived and Kiwis can now be proud that the Government has provided this cutting edge technology for the working-class proletariat.

It makes one hanker for the 7 series BMW limos that Helen lady uses, said Gertrude Floss, Mildred's younger more hip friend.

c Political Animal 2008

Friday, September 5, 2008

FULL VIDEO: John McCain RNC Acceptance Speech




John McCain accepted the Republican nomination for president before a devoted audience today.

Compared to Sarah Palin's speech yesterday, McCain's delivery is a more solid meat and potatoes sort of speech.

Palin's was inspirational while McCains was a little staid.

However, it had content, appealed to its Republican audience and reinforced McCain's shot at the Presidency.

It put Barack Obamas speech last week to shame-it wasn't flashy and littered with emotional clap trap but it had the ring of a man determined to lead a country with grace and worldly experience.

Something that Barack Obama lacks in spades.



John McCain's Republican Nominee Acceptance Address-FULL TEXT


Text: Republican Presidential Nominee Accepts His Party's Nomination At The GOP Convention On Thursday Night



Republican presidential candidate John McCain acknowledges the crowed as goes on stage at the Republican National Convention in St. Paul, Minn., Thursday, Sept. 4, 2008. (AP)

 Below are the remarks of Republican presidential nominee John McCain, as prepared for delivery, at the Republican National Convention in St. Paul, Minn., Sept. 4, 2008:


Thank you all very much. Tonight, I have a privilege given few Americans -- the privilege of accepting our party's nomination for President of the United States. And I accept it with gratitude, humility and confidence.

In my life, no success has come without a good fight, and this nomination wasn't any different. That's a tribute to the candidates who opposed me and their supporters. They're leaders of great ability, who love our country, and wished to lead it to better days. Their support is an honor I won't forget.

I'm grateful to the President for leading us in those dark days following the worst attack on American soil in our history, and keeping us safe from another attack many thought was inevitable; and to the First Lady, Laura Bush, a model of grace and kindness in public and in private. And I'm grateful to the 41st President and his bride of 63 years, and for their outstanding example of honorable service to our country.

As always, I'm indebted to my wife, Cindy, and my seven children. The pleasures of family life can seem like a brief holiday from the crowded calendar of our nation's business. But I have treasured them all the more, and can't imagine a life without the happiness you give me. Cindy said a lot of nice things about me tonight. But, in truth, she's more my inspiration than I am hers. Her concern for those less blessed than we are - victims of land mines, children born in poverty and with birth defects - shows the measure of her humanity. I know she will make a great First Lady.

When I was growing up, my father was often at sea, and the job of raising my brother, sister and me would fall to my mother alone. Roberta McCain gave us her love of life, her deep interest in the world, her strength, and her belief we are all meant to use our opportunities to make ourselves useful to our country. I wouldn't be here tonight but for the strength of her character.

My heartfelt thanks to all of you, who helped me win this nomination, and stood by me when the odds were long. I won't let you down. To Americans who have yet to decide who to vote for, thank you for your consideration and the opportunity to win your trust. I intend to earn it.

Finally, a word to Senator Obama and his supporters. We'll go at it over the next two months. That's the nature of these contests, and there are big differences between us. But you have my respect and admiration. Despite our differences, much more unites us than divides us. We are fellow Americans, an association that means more to me than any other. We're dedicated to the proposition that all people are created equal and endowed by our Creator with inalienable rights. No country ever had a greater cause than that. And I wouldn't be an American worthy of the name if I didn't honor Senator Obama and his supporters for their achievement.

But let there be no doubt, my friends, we're going to win this election. And after we've won, we're going to reach out our hand to any willing patriot, make this government start working for you again, and get this country back on the road to prosperity and peace.

These are tough times for many of you. You're worried about keeping your job or finding a new one, and are struggling to put food on the table and stay in your home. All you ever asked of government is to stand on your side, not in your way. And that's just what I intend to do: stand on your side and fight for your future.

And I've found just the right partner to help me shake up Washington, Governor Sarah Palin of Alaska. She has executive experience and a real record of accomplishment. She's tackled tough problems like energy independence and corruption. She's balanced a budget, cut taxes, and taken on the special interests. She's reached across the aisle and asked Republicans, Democrats and Independents to serve in her administration. She's the mother of five children. She's helped run a small business, worked with her hands and knows what it's like to worry about mortgage payments and health care and the cost of gasoline and groceries.

She knows where she comes from and she knows who she works for. She stands up for what's right, and she doesn't let anyone tell her to sit down. I'm very proud to have introduced our next Vice President to the country. But I can't wait until I introduce her to Washington. And let me offer an advance warning to the old, big spending, do nothing, me first, country second Washington crowd: change is coming.

I'm not in the habit of breaking promises to my country and neither is Governor Palin. And when we tell you we're going to change Washington, and stop leaving our country's problems for some unluckier generation to fix, you can count on it. We've got a record of doing just that, and the strength, experience, judgment and backbone to keep our word to you.

You know, I've been called a maverick; someone who marches to the beat of his own drum. Sometimes it's meant as a compliment and sometimes it's not. What it really means is I understand who I work for. I don't work for a party. I don't work for a special interest. I don't work for myself. I work for you.

I've fought corruption, and it didn't matter if the culprits were Democrats or Republicans. They violated their public trust, and had to be held accountable. I've fought big spenders in both parties, who waste your money on things you neither need nor want, while you struggle to buy groceries, fill your gas tank and make your mortgage payment. I've fought to get million dollar checks out of our elections. I've fought lobbyists who stole from Indian tribes. I fought crooked deals in the Pentagon. I fought tobacco companies and trial lawyers, drug companies and union bosses.

I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when the pundits said my campaign was finished, I said I'd rather lose an election than see my country lose a war.

Thanks to the leadership of a brilliant general, David Petraeus, and the brave men and women he has the honor to command, that strategy succeeded and rescued us from a defeat that would have demoralized our military, risked a wider war and threatened the security of all Americans.

I don't mind a good fight. For reasons known only to God, I've had quite a few tough ones in my life. But I learned an important lesson along the way. In the end, it matters less that you can fight. What you fight for is the real test.

I fight for Americans. I fight for you. I fight for Bill and Sue Nebe from Farmington Hills, Michigan, who lost their real estate investments in the bad housing market. Bill got a temporary job after he was out of work for seven months. Sue works three jobs to help pay the bills.

I fight for Jake and Toni Wimmer of Franklin County, Pennsylvania. Jake works on a loading dock; coaches Little League, and raises money for the mentally and physically disabled. Toni is a schoolteacher, working toward her Master's Degree. They have two sons, the youngest, Luke, has been diagnosed with autism. Their lives should matter to the people they elect to office. They matter to me.

I fight for the family of Matthew Stanley of Wolfboro, New Hampshire, who died serving our country in Iraq. I wear his bracelet and think of him every day. I intend to honor their sacrifice by making sure the country their son loved so well and never returned to, remains safe from its enemies.

I fight to restore the pride and principles of our party. We were elected to change Washington, and we let Washington change us. We lost the trust of the American people when some Republicans gave in to the temptations of corruption. We lost their trust when rather than reform government, both parties made it bigger. We lost their trust when instead of freeing ourselves from a dangerous dependence on foreign oil, both parties and Senator Obama passed another corporate welfare bill for oil companies. We lost their trust, when we valued our power over our principles.

We're going to change that. We're going to recover the people's trust by standing up again for the values Americans admire. The party of Lincoln, Roosevelt and Reagan is going to get back to basics.

We believe everyone has something to contribute and deserves the opportunity to reach their God-given potential from the boy whose descendants arrived on the Mayflower to the Latina daughter of migrant workers. We're all God's children and we're all Americans.

We believe in low taxes; spending discipline, and open markets. We believe in rewarding hard work and risk takers and letting people keep the fruits of their labor.

We believe in a strong defense, work, faith, service, a culture of life, personal responsibility, the rule of law, and judges who dispense justice impartially and don't legislate from the bench. We believe in the values of families, neighborhoods and communities.

We believe in a government that unleashes the creativity and initiative of Americans. Government that doesn't make your choices for you, but works to make sure you have more choices to make for yourself.

I will keep taxes low and cut them where I can. My opponent will raise them. I will open new markets to our goods and services. My opponent will close them. I will cut government spending. He will increase it.

My tax cuts will create jobs. His tax increases will eliminate them. My health care plan will make it easier for more Americans to find and keep good health care insurance. His plan will force small businesses to cut jobs, reduce wages, and force families into a government run health care system where a bureaucrat stands between you and your doctor.

Keeping taxes low helps small businesses grow and create new jobs. Cutting the second highest business tax rate in the world will help American companies compete and keep jobs from moving overseas. Doubling the child tax exemption from $3500 to $7000 will improve the lives of millions of American families. Reducing government spending and getting rid of failed programs will let you keep more of your own money to save, spend and invest as you see fit. Opening new markets and preparing workers to compete in the world economy is essential to our future prosperity.

I know some of you have been left behind in the changing economy and it often seems your government hasn't even noticed. Government assistance for unemployed workers was designed for the economy of the 1950s. That's going to change on my watch. My opponent promises to bring back old jobs by wishing away the global economy. We're going to help workers who've lost a job that won't come back, find a new one that won't go away.

We will prepare them for the jobs of today. We will use our community colleges to help train people for new opportunities in their communities. For workers in industries that have been hard hit, we'll help make up part of the difference in wages between their old job and a temporary, lower paid one while they receive retraining that will help them find secure new employment at a decent wage.

Education is the civil rights issue of this century. Equal access to public education has been gained. But what is the value of access to a failing school? We need to shake up failed school bureaucracies with competition, empower parents with choice, remove barriers to qualified instructors, attract and reward good teachers, and help bad teachers find another line of work.

When a public school fails to meet its obligations to students, parents deserve a choice in the education of their children. And I intend to give it to them. Some may choose a better public school. Some may choose a private one. Many will choose a charter school. But they will have that choice and their children will have that opportunity.

Senator Obama wants our schools to answer to unions and entrenched bureaucracies. I want schools to answer to parents and students. And when I'm President, they will.

My fellow Americans, when I'm President, we're going to embark on the most ambitious national project in decades. We are going to stop sending $700 billion a year to countries that don't like us very much. We will attack the problem on every front. We will produce more energy at home. We will drill new wells offshore, and we'll drill them now. We will build more nuclear power plants. We will develop clean coal technology. We will increase the use of wind, tide, solar and natural gas. We will encourage the development and use of flex fuel, hybrid and electric automobiles.

Senator Obama thinks we can achieve energy independence without more drilling and without more nuclear power. But Americans know better than that. We must use all resources and develop all technologies necessary to rescue our economy from the damage caused by rising oil prices and to restore the health of our planet. It's an ambitious plan, but Americans are ambitious by nature, and we have faced greater challenges. It's time for us to show the world again how Americans lead.

This great national cause will create millions of new jobs, many in industries that will be the engine of our future prosperity; jobs that will be there when your children enter the workforce.

Today, the prospect of a better world remains within our reach. But we must see the threats to peace and liberty in our time clearly and face them, as Americans before us did, with confidence, wisdom and resolve.

We have dealt a serious blow to al Qaeda in recent years. But they are not defeated, and they'll strike us again if they can. Iran remains the chief state sponsor of terrorism and on the path to acquiring nuclear weapons. Russia's leaders, rich with oil wealth and corrupt with power, have rejected democratic ideals and the obligations of a responsible power. They invaded a small, democratic neighbor to gain more control over the world's oil supply, intimidate other neighbors, and further their ambitions of reassembling the Russian empire. And the brave people of Georgia need our solidarity and prayers. As President, I will work to establish good relations with Russia so we need not fear a return of the Cold War. But we can't turn a blind eye to aggression and international lawlessness that threatens the peace and stability of the world and the security of the American people.

We face many threats in this dangerous world, but I'm not afraid of them. I'm prepared for them. I know how the military works, what it can do, what it can do better, and what it should not do. I know how the world works. I know the good and the evil in it. I know how to work with leaders who share our dreams of a freer, safer and more prosperous world, and how to stand up to those who don't. I know how to secure the peace.

When I was five years old, a car pulled up in front of our house. A Navy officer rolled down the window, and shouted at my father that the Japanese had bombed Pearl Harbor. I rarely saw my father again for four years. My grandfather came home from that same war exhausted from the burdens he had borne, and died the next day. In Vietnam, where I formed the closest friendships of my life, some of those friends never came home with me. I hate war. It is terrible beyond imagination.

I'm running for President to keep the country I love safe, and prevent other families from risking their loved ones in war as my family has. I will draw on all my experience with the world and its leaders, and all the tools at our disposal - diplomatic, economic, military and the power of our ideals - to build the foundations for a stable and enduring peace.

In America, we change things that need to be changed. Each generation makes its contribution to our greatness. The work that is ours to do is plainly before us. We don't need to search for it.

We need to change the way government does almost everything: from the way we protect our security to the way we compete in the world economy; from the way we respond to disasters to the way we fuel our transportation network; from the way we train our workers to the way we educate our children. All these functions of government were designed before the rise of the global economy, the information technology revolution and the end of the Cold War. We have to catch up to history, and we have to change the way we do business in Washington.

The constant partisan rancor that stops us from solving these problems isn't a cause, it's a symptom. It's what happens when people go to Washington to work for themselves and not you.

Again and again, I've worked with members of both parties to fix problems that need to be fixed. That's how I will govern as President. I will reach out my hand to anyone to help me get this country moving again. I have that record and the scars to prove it. Senator Obama does not.

Instead of rejecting good ideas because we didn't think of them first, let's use the best ideas from both sides. Instead of fighting over who gets the credit, let's try sharing it. This amazing country can do anything we put our minds to. I will ask Democrats and Independents to serve with me. And my administration will set a new standard for transparency and accountability.

We're going to finally start getting things done for the people who are counting on us, and I won't care who gets the credit.

I've been an imperfect servant of my country for many years. But I have been her servant first, last and always. And I've never lived a day, in good times or bad, that I didn't thank God for the privilege.

Long ago, something unusual happened to me that taught me the most valuable lesson of my life. I was blessed by misfortune. I mean that sincerely. I was blessed because I served in the company of heroes, and I witnessed a thousand acts of courage, compassion and love.

On an October morning, in the Gulf of Tonkin, I prepared for my 23rd mission over North Vietnam. I hadn't any worry I wouldn't come back safe and sound. I thought I was tougher than anyone. I was pretty independent then, too. I liked to bend a few rules, and pick a few fights for the fun of it. But I did it for my own pleasure; my own pride. I didn't think there was a cause more important than me.

Then I found myself falling toward the middle of a small lake in the city of Hanoi, with two broken arms, a broken leg, and an angry crowd waiting to greet me. I was dumped in a dark cell, and left to die. I didn't feel so tough anymore. When they discovered my father was an admiral, they took me to a hospital. They couldn't set my bones properly, so they just slapped a cast on me. When I didn't get better, and was down to about a hundred pounds, they put me in a cell with two other Americans. I couldn't do anything. I couldn't even feed myself. They did it for me. I was beginning to learn the limits of my selfish independence. Those men saved my life.

I was in solitary confinement when my captors offered to release me. I knew why. If I went home, they would use it as propaganda to demoralize my fellow prisoners. Our Code said we could only go home in the order of our capture, and there were men who had been shot down before me. I thought about it, though. I wasn't in great shape, and I missed everything about America. But I turned it down.

A lot of prisoners had it worse than I did. I'd been mistreated before, but not as badly as others. I always liked to strut a little after I'd been roughed up to show the other guys I was tough enough to take it. But after I turned down their offer, they worked me over harder than they ever had before. For a long time. And they broke me.

When they brought me back to my cell, I was hurt and ashamed, and I didn't know how I could face my fellow prisoners. The good man in the cell next door, my friend, Bob Craner, saved me. Through taps on a wall he told me I had fought as hard as I could. No man can always stand alone. And then he told me to get back up and fight again for our country and for the men I had the honor to serve with. Because every day they fought for me.

I fell in love with my country when I was a prisoner in someone else's. I loved it not just for the many comforts of life here. I loved it for its decency; for its faith in the wisdom, justice and goodness of its people. I loved it because it was not just a place, but an idea, a cause worth fighting for. I was never the same again. I wasn't my own man anymore. I was my country's.

I'm not running for president because I think I'm blessed with such personal greatness that history has anointed me to save our country in its hour of need. My country saved me. My country saved me, and I cannot forget it. And I will fight for her for as long as I draw breath, so help me God.

If you find faults with our country, make it a better one. If you're disappointed with the mistakes of government, join its ranks and work to correct them. Enlist in our Armed Forces. Become a teacher. Enter the ministry. Run for public office. Feed a hungry child. Teach an illiterate adult to read. Comfort the afflicted. Defend the rights of the oppressed. Our country will be the better, and you will be the happier. Because nothing brings greater happiness in life than to serve a cause greater than yourself.

I'm going to fight for my cause every day as your President. I'm going to fight to make sure every American has every reason to thank God, as I thank Him: that I'm an American, a proud citizen of the greatest country on earth, and with hard work, strong faith and a little courage, great things are always within our reach. Fight with me. Fight with me.

Fight for what's right for our country.

Fight for the ideals and character of a free people.

Fight for our children's future.

Fight for justice and opportunity for all.

Stand up to defend our country from its enemies.

Stand up for each other; for beautiful, blessed, bountiful America.

Stand up, stand up, stand up and fight. Nothing is inevitable here. We're Americans, and we never give up. We never quit. We never hide from history. We make history.

Thank you, and God Bless you.