I cannot believe John Key can view this election as a triumph for him and the National Party. He may have won the battle but he has lost the war.
Act is destroyed, he has no natural coalition partners in sight and now MMP is entrenched. He has handed the country to the left wing and the nutters from the 2014 election onwards. A speech in favour of removing MMP during the just-run election and the most popular PM in decades might have swung the vote. I believe he and Jim Bolger will be remembered as the 2 'conservative' PMs who doomed this country to a future of being governed by left wing fruit loops, or as my mate describes them, "sandal wearing, hairy legged, lesbian, tree huggers".
Oh well, I am getting to the age where I am irrelevant anyway so I will settle back and watch my children emigrate and hope I have enough dosh to afford the occasional overseas visit to see them and possible grandchildren.
Monday, November 28, 2011
AGAINST STUPIDITY........
I commented previously, quoting Schiller "Against stupidity the gods themselves contend in vain." How else do you explain the NZ voters voting the Herne Bay pisshead and thief back into parliament? I figure no one ever went broke over-estimating the stupidity of the NZ public. And to think he also brings Andrew Williams with him. At least Winnie will have a drinking companion in Wellington now.
My wife is not a political animal but loathes Winnie with a passion since the 1996(?) election where he held the country to ransom for 6 weeks while he negotiated for his baubles and finally went with National as 'Treasurer'. Negotiations were about 4 weeks on when my wife was out with the girls in Courtenay Place on a Friday night and about midnight, Winnie and his entourage of sycophants and diplomatic protection squad swept into the biggest pickup bar in town known as the 'Big Sleazy', (Wellingtonians will probably remember). He and the hangers on started drinking and chatting up anything in a skirt into the wee small hours. My wife and her mates were horrified. She said to me in the morning, "What was he doing there at that time of night acting as a sleaze while he holds the country to ransom for so long?"
The Wellington bars and restaurants (and the Green Parrot) will be ecstatic and will be counting their chickens. The Wellington City Council workers will be planting lots of lemon trees in the streets for Andrew Williams to piss on. I also suspect the next 3 years will be fascinating for politics watchers and particularly for right wing observers who will have lots to beat Winnie over the head about as he lies and squirms the next 3 years away.
My wife is not a political animal but loathes Winnie with a passion since the 1996(?) election where he held the country to ransom for 6 weeks while he negotiated for his baubles and finally went with National as 'Treasurer'. Negotiations were about 4 weeks on when my wife was out with the girls in Courtenay Place on a Friday night and about midnight, Winnie and his entourage of sycophants and diplomatic protection squad swept into the biggest pickup bar in town known as the 'Big Sleazy', (Wellingtonians will probably remember). He and the hangers on started drinking and chatting up anything in a skirt into the wee small hours. My wife and her mates were horrified. She said to me in the morning, "What was he doing there at that time of night acting as a sleaze while he holds the country to ransom for so long?"
The Wellington bars and restaurants (and the Green Parrot) will be ecstatic and will be counting their chickens. The Wellington City Council workers will be planting lots of lemon trees in the streets for Andrew Williams to piss on. I also suspect the next 3 years will be fascinating for politics watchers and particularly for right wing observers who will have lots to beat Winnie over the head about as he lies and squirms the next 3 years away.
Thursday, November 24, 2011
2011 ELECTION
I have not bothered to blog on the election because there are many bloggers who do it so much better than I could. However, I cannot believe the dirtiness of the campaigns being run by the scum of the Left. I have been a keen follower of matters political since the age of 15 and cannot remember so many blatant lies and what is worse, so much bias from the media against the government.
What to do? I have cancelled my sub to the Herald and we no longer watch TV3 News. There are many online alternatives from all around the world so I am not suffering any loss. That is the only way I know of bringing home to these unelected, self-appointed, would be king makers that their actions will cost them and their shareholders in the pocket. I will be watching the circulation and ratings fugures in future with interest.
What to do? I have cancelled my sub to the Herald and we no longer watch TV3 News. There are many online alternatives from all around the world so I am not suffering any loss. That is the only way I know of bringing home to these unelected, self-appointed, would be king makers that their actions will cost them and their shareholders in the pocket. I will be watching the circulation and ratings fugures in future with interest.
Friday, November 18, 2011
THAT LYING BASTARD PETERS
Can you believe the mendacity of Winston Peters? At the start of the week he witters on about the disgraceful taping of the 'cup of tea meeting' and then in the same week starts leaking details of their content. Soper says the police are not likely to go and arrest Peters. Why not? He has broken the law and in addition, is a thief who has yet to make reparations. Where is our $158,000 Winnie? Bet if I don't pay money owed to the government I wouldn't get the same leniency from the authorities.
Monday, November 14, 2011
Cars, cars and damn cars
We have 3 vehicles, 1 each for me and "she who must be obeyed" and a van for our disabled son. Her car starts over heating and in it goes on Monday for some TLC. This always necessitate late starts and early finishes at work to get to and from the garage. This has income consequences as a consultant I charge by the hour and so lose about 2 hours income. However, my mechanic is superb and lends me a car so at least I am not stuck for transport. On Wednesday, my car starts doing the same and I take it in on Thursday, with the same impact on income.
I arrive home from the garage on Thursday evening to be told that my son and his caregiver were at a local shopping centre, had deployed the wheelchair hoist and some idiot had run over it! The van was bought 1 month ago and is a gorgeous Merc with all the whistles and bells. Our son is the first in the family to have a Merc! The hoist was bent and would not stow properly and so the back door could not be closed.
I was distraught as was my son. I thought we have been cursed by the car gods this week. The van was the first bit of luxury the family had had in 6 years after everything had been put on hold and every bit of cash saved for our leaky home costs.
Next morning, after superb service the night before by Bruce at the State Insurance call centre based in Christchurch, I took the van to the local panel beater. The van was 100% ok - whew as I was concerned the floor could have been twisted. Then taking a hammer, he gently beat the bent side panel in the hoist back into position and lo and behold the problem was fixed in 5 minutes. A beautiful morning (weather wise) and the car gods were starting to smile upon us again.
Off goes the son in the van with his other care giver so the wife and I go and have a well deserved lunch in St Heliers. Sitting there looking at one of the best views in the world we feel blessed and all the worries of the week seem very distant.
I arrive home from the garage on Thursday evening to be told that my son and his caregiver were at a local shopping centre, had deployed the wheelchair hoist and some idiot had run over it! The van was bought 1 month ago and is a gorgeous Merc with all the whistles and bells. Our son is the first in the family to have a Merc! The hoist was bent and would not stow properly and so the back door could not be closed.
I was distraught as was my son. I thought we have been cursed by the car gods this week. The van was the first bit of luxury the family had had in 6 years after everything had been put on hold and every bit of cash saved for our leaky home costs.
Next morning, after superb service the night before by Bruce at the State Insurance call centre based in Christchurch, I took the van to the local panel beater. The van was 100% ok - whew as I was concerned the floor could have been twisted. Then taking a hammer, he gently beat the bent side panel in the hoist back into position and lo and behold the problem was fixed in 5 minutes. A beautiful morning (weather wise) and the car gods were starting to smile upon us again.
Off goes the son in the van with his other care giver so the wife and I go and have a well deserved lunch in St Heliers. Sitting there looking at one of the best views in the world we feel blessed and all the worries of the week seem very distant.
Wednesday, November 9, 2011
HELP
HELP NEEDED URGENTLY
Does anybody know how to cancel a bid on Trade Me?
Yesterday I put in a bid for a “Cowboy Outfit” and now it seems I’m only six minutes away from owning the New Zealand Labour Party!
Does anybody know how to cancel a bid on Trade Me?
Yesterday I put in a bid for a “Cowboy Outfit” and now it seems I’m only six minutes away from owning the New Zealand Labour Party!
Dum Dum Goff (apologies to TalkTalk)
Thinking of the Labour policies announced to date-
- return to 1970's industrial relations
- GST policy
- capital gains and higher income tax rates
- extending 'Working for Families' to beneficiaries
- spend, spend, spend, borrow, borrow, borrow
GST on Fruit and Vegetables - Labour's Idiocy
Remember hearing of the story about when VAT was introduced in the UK. The government of the time was undertaking the sort of populist nonsense that Labour are attempting now and exempted 'basic food'. Included in the definition of basic food was salt. Of course the food nazis decided takeaways were nasty and so VAT applied to takeaways.
It did not take long. One enterprising fish and chip shop advertised that their fish and chips were free while every order had to have salt and the salt cost 2 pounds per standard order. They were then effectively cheaper than all their competition by the value of the VAT. Of course to remedy this legal avoidance required more legislation and expert panels.
The beauty of NZ's GST is its broad application and so the difficulty in finding avoidance tricks such as the UK example. If Labour's nonsense proposal were to be passed, I could easily imagine there would be examples of the vegetables or fruit being charged for while non-vegetable/fruit elements would be free. Tax experts love exemptions as they provide a good living in devising schemes to take advantage of them so I can see the tax advisors industry rubbing their hands in glee at the thought.
It did not take long. One enterprising fish and chip shop advertised that their fish and chips were free while every order had to have salt and the salt cost 2 pounds per standard order. They were then effectively cheaper than all their competition by the value of the VAT. Of course to remedy this legal avoidance required more legislation and expert panels.
The beauty of NZ's GST is its broad application and so the difficulty in finding avoidance tricks such as the UK example. If Labour's nonsense proposal were to be passed, I could easily imagine there would be examples of the vegetables or fruit being charged for while non-vegetable/fruit elements would be free. Tax experts love exemptions as they provide a good living in devising schemes to take advantage of them so I can see the tax advisors industry rubbing their hands in glee at the thought.
Tuesday, November 8, 2011
Selling SOEs
I cannot believe the stupidity of some of the comments against selling SOEs and am concerned the proponents don't counter them. I am a financial consultant and have valued and sold many companies and divisions over the years so have some expertise here. One of the common complaints (and Labour also use the argument) is that by selling, we will forego the dividends we currently receive from these SOEs.
What do people think a company is worth? I'll tell you, it is worth the net present value of the free cash flow that the company is forecast to generate over its foreseeable life. And that is what you would sell a company for unless you are an idiot. So you would receive the value today of the total possible future dividends. Invest those sale proceeds and you should be able to generate at least similar levels of income or alternatively pay off debt and save interest bills.
The real issue is whether there are better alternatives to the government being invested in electricity companies and a coal company when we have a desperate need to get our debt down and to build infrastructure to kick us into the 21st century. Governments are not there to assume business risks that private enterprise is well able and better placed to incur.
What do people think a company is worth? I'll tell you, it is worth the net present value of the free cash flow that the company is forecast to generate over its foreseeable life. And that is what you would sell a company for unless you are an idiot. So you would receive the value today of the total possible future dividends. Invest those sale proceeds and you should be able to generate at least similar levels of income or alternatively pay off debt and save interest bills.
The real issue is whether there are better alternatives to the government being invested in electricity companies and a coal company when we have a desperate need to get our debt down and to build infrastructure to kick us into the 21st century. Governments are not there to assume business risks that private enterprise is well able and better placed to incur.
Goof and Labour
My wife is not a political animal but last night's performance by Goof and the new Labour spend up policy on Child welfare had her spitting tacks. "I saw some woman on TV with 6 kids complaining beneficiaries need more money. Why should I pay for her inability to keep her legs closed? We didn't have kids until we could afford them and we limited out family size for the same reason."
She starts yelling "Show us the money." Well done John Key, you have defined the 2011 election for most of us. We read daily of Europe in danger of collapsing due to excessive government spending caused largely by bloated social welfare and Goof wants us to follow that example. My canny wife says "No one believes Labour have a plan to pay for all this." She works with a large group of immigrants and none of them are voting Labour this time around.
I think Labour know they will be toast in November so are trying to retain the 25% or so of the electorate who represent their core, regardless of how nonsensical their policies as a result.
She starts yelling "Show us the money." Well done John Key, you have defined the 2011 election for most of us. We read daily of Europe in danger of collapsing due to excessive government spending caused largely by bloated social welfare and Goof wants us to follow that example. My canny wife says "No one believes Labour have a plan to pay for all this." She works with a large group of immigrants and none of them are voting Labour this time around.
I think Labour know they will be toast in November so are trying to retain the 25% or so of the electorate who represent their core, regardless of how nonsensical their policies as a result.
Wednesday, November 2, 2011
Leaky Homes
I thought I would blog on the leaky home process I went through as a guide for the other poor souls who are facing the same issue. What follows is a very brief history as the whole process took a very long time.
IMPORTANT - register immediately with the Weathertight Homes Resolution Service ("WHRS"). You have to claim within 10 years of your house being built. Plus, under common law, you have to claim within 6 years of finding the problem. Registering with the WHRS is regarded as making your claim and stops the clock. In my instance, the house was built in 1998 and I registered in 2005. The final mediation and settlement was in July 2011 which is 13 years after the house was built and 6 years since the problem was discovered, but having "stopped" the clock, the time delay did not matter (legally).
After registering, the WHRS sent out an inspector and they carried out 2 inspections with probes, producing a huge detailed report. I went to the best leaky home lawyers in town. They advised I hire an inspection firm and have an invasive examination (where they cut holes in the cladding) as the WHRS inspectors were not very good and had a record of badly under-estimating the cost to repair.
Was given a list by the lawyer and started at the top. The first 3 declined saying they were too busy. Finally found one who could do the inspection within a week. HINT - make sure you ask the hourly rate and compare - they vary hugely. Inspection was again conducted and found many areas the WHRS had missed. The estimate of costs was almost twice that of the WHRS. I hired the inspection firm to act as my project managers and to supervise the repairs.
HINT - you could save substantial costs here if you have the time and ability to act as your own project manager. However, he helped me redesign the house, supervised the builders and council through every critical weathertight issue (well outside my area of expertise) and ensured every thing was done properly, albeit at a huge cost and some suggestion that I was ripped off.
After some time of redesigning etc as I was not prepared to reclad in the same system and went for weather boards, funding issues, family issues (both my family and the project managers) we finally selected a large repair company. With hind sight I can say the choice was brilliant and the foreman they put in charge was an old- fashioned chippy who would not accept a sloppy piece of work anywhere and was a great guy as well. HINT - repair and then claim if you can afford it as until the cladding is all off, you do not have an accurate handle on the costs to repair. Ours were out by 30%.
So, finally finished after 6 months and the family having to move out and back in. The details and photos of the repairs and costs are given to my lawyers. The opposing council hires the biggest firm in town, the builders hire the second biggest. So the tennis match starts with information, delaying tactics and of course bills going in all directions. After 2 years we finally get to mediation under the WHRS.
My lawyer warns me to keep my mouth shut and not say anything no matter how provoked unless he asks me directly. The WHRS mediator starts proceedings (she turns out to be completely useless through the day). My lawyer outlines our claim, then the builders' lawyer states their case and it starts as a slag off of me and everything I have done to fix my house. The council's laywer is next and the first thing she does is to apologise to me and my family for putting us through the whole problem! I was gob smacked.
For the next 3 hours, the builders' lawyers and building experts slandered me, impugned my every action, indulged in nit picking points of law and made derisory offers of about a quarter of what I it had cost (all up including interest on borrowings, alternative accommodation etc). The parties leave the room and have discussions re what they will offer/accept and so on.
We left for lunch and returned to more point scoring and insults, including one from their inspection firm saying "If you wanted too keep costs down you shouldn't have employed a Rolls Royce project manager." My project manager went ape shit and gave him his pedigree back. I bit my lip and wanted to point out we are talking about a large house in one of Auckland's best suburbs.
Finally, we left the room again and my lawyer said you should offer $X on a take it or leave it basis. This was for 2/3 of what I had spent. I was rather upset. He advised I might get a further 10-20% if I went to a hearing of the WHRS but it would cost me about that to go to a hearing and there was no guarantee I would get the extra I wanted as the WHRS tribunal chairs tend to be lawyers who cannot make it in private practice and so tend to the poor end of the quality spectrum. The final step is the High Court which would cost at least $100k and could be appealed. So I caved in. The other side accepted and the matter was settled.
The lawyer for the original builders comes over and shakes my lawyer's hand and then comes to me. As a gentleman, I stand and shake her hand. The council's lawyer comes over and I do the same. I stand and said to her "I appreciated the apology. No one other than you has ever apologised for the 6 years of hell my family has gone through."
Next, over comes the General Manager of the original builders who had sat there with his lawyers. I remained seated, he sat down next to me and putting out his hand said "You must be relieved that is all over." I looked him in the eye and said to him "Your firm's gross incompetence and your lawyers have cost me a lot of money; I am rather upset; I suggest you go away very quickly." His jaw dropped and he pulled in his hand very quickly, got up and scuttled out of the room. I should add I am the size of an All Black lock so was twice his size. I was rather proud I had not used any obscenities or hit him.
So, there you go. As usual the legal system has been highjacked by the lawyers in favour of the deepest pockets rather than the victims. My family and I were blameless here. The building firm and the council were grossly incompetent. Parts of our house were built in contravention of existing bylaws, parts would have collapsed within 2-3 years due to unseen beams rotting out and parts of the house were found to be dangerous. We had to face the fact that 30 years of hard work and scrimping were now seriously at risk, we had to borrow and service a huge loan while not having a permanent job, move the family out for 6 months into a shit hole of a house (to keep costs down), face 2 years delays and loan costs, all while trying to save money for possible legal and court costs.
I am very angry and as the builder is part of a listed company I am thinking of buying some shares and start attending AGMs and asking questions that might attract the attention of the media. I am reasonably handy with social media and that presents some opportunities as well. My daughter said "Let it go as you'll just turn into a bitter old man." She may be right.
IMPORTANT - register immediately with the Weathertight Homes Resolution Service ("WHRS"). You have to claim within 10 years of your house being built. Plus, under common law, you have to claim within 6 years of finding the problem. Registering with the WHRS is regarded as making your claim and stops the clock. In my instance, the house was built in 1998 and I registered in 2005. The final mediation and settlement was in July 2011 which is 13 years after the house was built and 6 years since the problem was discovered, but having "stopped" the clock, the time delay did not matter (legally).
After registering, the WHRS sent out an inspector and they carried out 2 inspections with probes, producing a huge detailed report. I went to the best leaky home lawyers in town. They advised I hire an inspection firm and have an invasive examination (where they cut holes in the cladding) as the WHRS inspectors were not very good and had a record of badly under-estimating the cost to repair.
Was given a list by the lawyer and started at the top. The first 3 declined saying they were too busy. Finally found one who could do the inspection within a week. HINT - make sure you ask the hourly rate and compare - they vary hugely. Inspection was again conducted and found many areas the WHRS had missed. The estimate of costs was almost twice that of the WHRS. I hired the inspection firm to act as my project managers and to supervise the repairs.
HINT - you could save substantial costs here if you have the time and ability to act as your own project manager. However, he helped me redesign the house, supervised the builders and council through every critical weathertight issue (well outside my area of expertise) and ensured every thing was done properly, albeit at a huge cost and some suggestion that I was ripped off.
After some time of redesigning etc as I was not prepared to reclad in the same system and went for weather boards, funding issues, family issues (both my family and the project managers) we finally selected a large repair company. With hind sight I can say the choice was brilliant and the foreman they put in charge was an old- fashioned chippy who would not accept a sloppy piece of work anywhere and was a great guy as well. HINT - repair and then claim if you can afford it as until the cladding is all off, you do not have an accurate handle on the costs to repair. Ours were out by 30%.
So, finally finished after 6 months and the family having to move out and back in. The details and photos of the repairs and costs are given to my lawyers. The opposing council hires the biggest firm in town, the builders hire the second biggest. So the tennis match starts with information, delaying tactics and of course bills going in all directions. After 2 years we finally get to mediation under the WHRS.
My lawyer warns me to keep my mouth shut and not say anything no matter how provoked unless he asks me directly. The WHRS mediator starts proceedings (she turns out to be completely useless through the day). My lawyer outlines our claim, then the builders' lawyer states their case and it starts as a slag off of me and everything I have done to fix my house. The council's laywer is next and the first thing she does is to apologise to me and my family for putting us through the whole problem! I was gob smacked.
For the next 3 hours, the builders' lawyers and building experts slandered me, impugned my every action, indulged in nit picking points of law and made derisory offers of about a quarter of what I it had cost (all up including interest on borrowings, alternative accommodation etc). The parties leave the room and have discussions re what they will offer/accept and so on.
We left for lunch and returned to more point scoring and insults, including one from their inspection firm saying "If you wanted too keep costs down you shouldn't have employed a Rolls Royce project manager." My project manager went ape shit and gave him his pedigree back. I bit my lip and wanted to point out we are talking about a large house in one of Auckland's best suburbs.
Finally, we left the room again and my lawyer said you should offer $X on a take it or leave it basis. This was for 2/3 of what I had spent. I was rather upset. He advised I might get a further 10-20% if I went to a hearing of the WHRS but it would cost me about that to go to a hearing and there was no guarantee I would get the extra I wanted as the WHRS tribunal chairs tend to be lawyers who cannot make it in private practice and so tend to the poor end of the quality spectrum. The final step is the High Court which would cost at least $100k and could be appealed. So I caved in. The other side accepted and the matter was settled.
The lawyer for the original builders comes over and shakes my lawyer's hand and then comes to me. As a gentleman, I stand and shake her hand. The council's lawyer comes over and I do the same. I stand and said to her "I appreciated the apology. No one other than you has ever apologised for the 6 years of hell my family has gone through."
Next, over comes the General Manager of the original builders who had sat there with his lawyers. I remained seated, he sat down next to me and putting out his hand said "You must be relieved that is all over." I looked him in the eye and said to him "Your firm's gross incompetence and your lawyers have cost me a lot of money; I am rather upset; I suggest you go away very quickly." His jaw dropped and he pulled in his hand very quickly, got up and scuttled out of the room. I should add I am the size of an All Black lock so was twice his size. I was rather proud I had not used any obscenities or hit him.
So, there you go. As usual the legal system has been highjacked by the lawyers in favour of the deepest pockets rather than the victims. My family and I were blameless here. The building firm and the council were grossly incompetent. Parts of our house were built in contravention of existing bylaws, parts would have collapsed within 2-3 years due to unseen beams rotting out and parts of the house were found to be dangerous. We had to face the fact that 30 years of hard work and scrimping were now seriously at risk, we had to borrow and service a huge loan while not having a permanent job, move the family out for 6 months into a shit hole of a house (to keep costs down), face 2 years delays and loan costs, all while trying to save money for possible legal and court costs.
I am very angry and as the builder is part of a listed company I am thinking of buying some shares and start attending AGMs and asking questions that might attract the attention of the media. I am reasonably handy with social media and that presents some opportunities as well. My daughter said "Let it go as you'll just turn into a bitter old man." She may be right.
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