The Herald on Sunday has a very interesting story on the partial sale of several SOE's, described erroneously by opponents as "asset sales"; check this out:
New Zealanders don't much like the idea of selling off big chunks of their energy companies and national airline - but if the Government proceeds with the sale, they want a piece of the action.A Key Research poll, commissioned by the Herald on Sunday, reveals almost 60 per cent of respondents would like to buy shares in Mighty River, Genesis, Meridian, Solid Energy and Air New Zealand.
Isn't that just what the Government has been saying? We reckon that when Mighty River Power goes on the block soon after the empowering legislation passes its Third Reading on Tuesday, the share offer will be over-subscribed.
And we reckon that whilst institutional investors will be keen - Kiwisaver providers, ACC and iwi groups - Mum and Dad investors like SWMBO and ourselves will be applying in large numbers. We say that because it quite simply makes sense.
The opposition parties have underlined the fact that these are well-performing companies returning strong dividend; so why wouldn't you want a piece of the action? You're not only investing in your own future in buying an asset that will appreciate over time and return dividends; you're buying into a plan to build more assets via the Future Investment Fund.
Our investment will be a long-term one. The notion pushed by the Greens, Labour and NZ First last week that people will be trying to make a quick buck and will immediately sell them to the highest bidder is an insult to the intelligence. Surely, the Left (and Labour in particular) should realise that part of the reason for its defeats in 2008 and 2011 is that New Zealanders don't like their governments telling them what's good for them, and treating them as stupid.