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.
7 comments:
Well duh. Why wouldn't people buy them if they can afford them? Better to be a hammer than a nail. Doesn't make it a good idea for the vast majority who are locked out.
Last time I studied statistics Judge, 40% was not a "vast majority". Then again, when you only get 27% at an election, I guess 40% would be Nirvana!
From that same item:
Last night, Green co-leader Metiria Turei warned the Government they had no mandate to pass it into law.
The problem for Metiria is that National have more of a mandate to pass it into law than she has to stop it passing in to law. Like it or not that's how our democracy works.
Are you being deliberately obtuse IV2?
The silly poll found that 60% would LIKE to buy shares. Not that they can afford to or will. Massive difference. There's no way that would even be possible, unless is stays in public ownership, and then we all own it. Can't have that though.
George, you don't like democracy, that's why you're opposed to a referendum on this issue.
Judge; the notion that "we all own them" is a myth. You can't go to the government and say "I want to cash in my share of MRP".
And share ownership is going to be within the reach of most New Zealanders. If you can't scrape together the entry-level grand, I suggest that you spend less time trolling around the blogs, and get out and work harder.
Yep, everyone's got a spare few grand lying behind the couch for just this purpose. Everyone gets a share (you'll have to look that one up)! You're not out of touch at all are you?
Something which is in public ownership is owned by the public. The benefits of that ownership are everyone's, not just the ones rich enough to buy in. Are you suggesting that something in public ownership is not owned by anyone? How does that work?
"Judge; the notion that "we all own them" is a myth. You can't go to the government and say "I want to cash in my share of MRP"."
Ha! The classic 'Stupid Argument'. You don't see that every day!
Oh, hang on!
ps - Pete George has a crush on Metiria.
Post a Comment