Tuesday, March 5, 2013


Who is trying to skew a Stuff poll on asset sales? Here's who:

The www.mightyrivershares.govt.nz website is overloaded, and there are delays connecting with the 0800 number to pre-register interest in the share float. So even the efforts of the Distribution Workers Union seem to have failed to dent enthusiasm.

You can vote on the poll here. And here's how it currently stands, at 1.50pm on Tuesday afternoon:

Wow; 67.9% of the 3776 respondents to date (more than two thirds) agree with the partial sale of Mighty River Power. Whatever happened to the 80% of New Zealanders who opposed asset sales that the likes of all Labour's Davids, Winston Peters, Russel Norman amd Metiria Turei were banging on about last week.

They've all been busted; just like the Distribution Workers' Union.

UPDATE: Over 5000 people have now responded to the Stuff poll, and despite the best efforts of the DWU those who favour the MRP sale now comprise 71% of respondents. 

And over 35,000 people have already pre-registered to buy MRP shares; around 10% of the number that it's taken Labour and the Greens a year to collect in just six hours. 

The silent majority has indeed spoken.

Hat-tip (for the e-mail): Whaleoil


Lofty said...

Voted for, and also pre registered trusts, companies, and 3 individuals for the share float.
It will be great to be able to assist NZ back to fiscal health.
I agree that the majority of shares should remain in kiwis hands, so it is my duty to buy up as many as I can get my mitts on.

bsprout said...

Just to be sure, lets have that referendum, KS, going by this you will romp in.

Ciaron said...

KS, I gotta ask: what do you think of Slaters exchange with John Stringer?

Keeping Stock said...

I haven't paid a lot of attention to it Ciaron tbh

Rusky Rusky said...

The shares will go off-shore. Many of the initial Kiwi buyers will be 'scalpers' looking to profit quickly. You slate Mallard, Keeping Stock, for scalping tickets, but cheer on the scalpers in this dodgy exercise of Keys. That's pretty hypocritical.

Keeping Stock said...

Care to provide a link to prove that I "cheer on the scalpers in this dodgy exercise of Keys" Rusky? I have repeatedly said that these shares should be seen as long-term investments, and not a get-rich-quick scheme.

A link or an apology please.

Rusky Rusky said...

You know there's no provision to stop scalpers. You know there will be profiteers. You say nothing about that. You are complicit.
New Zealanders will be ripped-off. Foreigners will profit (they are richer than us, you see, and will hoover up our shares. Do you deny it, KS?).

Keeping Stock said...

I'm still waiting for you to provide a link where I "cheer on the scalpers in this dodgy exercise of Keys". Come on Robert (sorry, Rusky); I expect better of you.

chestnut said...

You demand links from your contributors, rather than refuting their claims using your ability to think and write?
How pedantic.
I notice you don't answer questions put to you by your readers, so I guess it the old pot-kettle biz here, as ever it was.

Rusty Rusty said...

The Government's plan to sell publicly owned hydro-energy resources is a huge strategic blunder. This is not due to the objections raised so far, such as worries about the public-private ownership model or transgression of Maori water rights. The reason is arguably much more important than both of these concerns.

The Government has grossly underestimated the value of hydro-energy assets to New Zealand citizens. The assets are likely to be worth at least double the amount the Government is prepared to accept. This is because the valuations have apparently ignored the implications of clear signals that global energy costs and prices will increase greatly and permanently within the next 7 to 10 years.

Keeping Stock said...

@ Chestnut; Rusty has made a psecific allegation against me which I have asked him to substantiate. He cannot, because I have simply never expressed the sentiment that he accuses me of.

If you think that attacking somebody based upon a lie is laudable, I would suggest that that says more about you than it does about me.

Keeping Stock said...

But here are a few comments that support my position:

4/3/2012 As we have said on many occasions, our investment will be an enduring one. Extra shares by way of a loyalty scheme will be welcomed, but the lure of a loyalty bonus alone would not have been necessary to convince us to make a long-term investment. A company such as Mighty River Power is not a get-rich-quick investment, and it's highly likely that our shares will be part of our estate when we shuffle off this mortal coil, something we're not planning to do in the immediate future!


15/6/2012 We've made our thoughts on the Mixed Ownership Model abundantly clear. We will be applying for a small shareholding in Mighty River Power because we reckon that our energy SOE's will be an excellent long-term investment as we plan for our retirement.


6/6/2012 We have never owned share on our own account, apart from a small parcel of Powerco shares which were given to us as a customer many years ago, and sold off straight away. The Fund Managers of our Kiwisaver fund invest on our behalf; just where they invest, we have no idea, but they are one of the better performing funds, so we're happy.

But we are certainly going to be in the queue of Mum and Dad investors when 49% of Mighty River Power is floated later in the year. We don't have a lot of spare cash; most of it has gone into our businesses, but we see New Zealand's State Owned Enterprises as an excellent, secure long-term investment, with the emphasis on the long term.

Retirement is not that many years away for us, so we're conscious of the need for solid, stable investments, and we're not interested in get-rich-quick schemes. Investing in New Zealand SOE's seems to us to be the ideal choice, especially when the proceeds of the sale of minority shareholdings will go into the Future Investment Fund which will provide for our children and yet-to-be-conceived grandchildren. Why wouldn't you?


22/7/2012 We're certainly going to put some of our savings into Mighty River Power shares. We can't imagine a better long-term investment than a well-performed New Zealand-based infrastructure company that is majority-owned by the Government. That's why we are happy to put our money where our mouth is.

And if there's a loyalty scheme in place, that's a bonus. But our investment will be a long-term one whether or not there's a loyalty scheme. Shares in SOE's will not be a key to getting rich quickly; they'll be in the slow and steady category. And when we shuffle off this mortal coil, there'll be something else to bequeath to our children. Isn't that the epitome of being Mum and Dad investors?

Around the social media, the Left is already getting all a-twitter. We've seen a few comments to the effect that only 7% of New Zealanders will be able to afford to invest in SOE share parcels of a minimum of $1000, and that John Key is just looking after his rich mates. If that figure has any credibility whatsoever, it's an indictment on our national ability to save. We suspect however that it's made up; rather like "We are the 99%" was.

We see this as a fantastic opportunity to invest in New Zealand. And we've only got three words for the John Key-led government; bring it on!


A reasonable consistent position Rusky and Chestnut, don't you think?

Don't worry about the apology however, because insincere apologies aren't worth the time of day.

Rusty Chestnut Ferris said...

I appreciate the trouble you have gone to, KS, to prove your integrity, however...
I couldn't help but notice this:

"6/6/2012 We have never owned share on our own account, apart from a small parcel of Powerco shares which were given to us as a customer many years ago, and sold off straight away. "

Showing that even you, good fellow that you are, flogged off your shares as soon as you got them, presumably for a profit, which was my point entirely. What will less "Christian" fellows than you do, faced with the opportunity to make a quick buck?

Keeping Stock said...

A lot changes in 20 years Rusty!

V said...

Why don’t you poke me in the eye again ShonKey – spending taxpayer’s money on a propaganda campaign that is effectively trying to sell me something I already own. No amount of lipstick on the pig will change the fact that it’s still a pig! These assets that you and I already own are being extricated from our hands, slowly [ partially ] but surely [ eventually foreign owned ] into the greedy hands of private capitalist pig dogs. Power prices will dramatically increase, while services will deteriorate even further. Spread that lipstick real good John after all it’s only our money. . .

ShonKey needs to stop and seriously consider what he was democratically elected to do in his role as prime minister, and whom exactly as prime minister does he actually represent? Our beloved president, I mean prime minister, is not the CEO of some corporation. He is not bequeathed the holy right to make executive decisions or change the law willy-nilly to ultimately suit & serve his special interests.

ShonKey has seemingly gone AWOL in what can only be described as dereliction of duty as prime minister of this sovereign nation. He should be tried for treason then fired. Nothing I’m witnessing at the moment shows he’s operating in the best interest of all New Zealanders.

Paranormal said...

@V, "capitalist pig dogs" - are you aware that communism has proven to be a failed experiment?