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Home / Business

The Insider: Never a better time to buy

NZ Herald
19 Mar, 2015 04:00 PM4 mins to read

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If you're chasing a property bargain, you could do worse than nip over to Sydney, where Chinese billionaire Hui Ka Yan is in a rush to get rid of his Point Piper place.

Hui was this month ordered to sell the five-bedroom mansion in 90 days because his purchase violated foreign investment rules.

"It is just short of a fire sale," one real estate agent told the Bloomberg news agency.

But even if the price is a bargain, it won't be cheap: Hui is believed to have paid A$45 million all-up.

SOUNDS OF SILENCE
With legislation to set up a referendum on the flag being considered, some people may be wondering whatever happened to the much wider Constitutional Review.

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After years of meetings and reports, the Constitutional Review recommended at the end of 2013 that the "conversation" continue, and in particular, the Government should look at reviewing, among other things, the Bill of Rights Act.

Specifically, the review could look at adding more rights to the act, including economic, social and cultural rights, environmental and property rights.

All that can be said about the ongoing conversation is ... "the rest is silence".

A cynical soul might even think the whole exercise was just a way of keeping then-minister Pita Sharples happy.

STAYING ALOFT
Some people are wondering about the wisdom of local councils using ratepayers' money to subsidise air links which commercial operators cannot make profitable.

Discover more

Business

The Insider: Taking a new track

11 Dec 04:00 PM
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The Insider: Too much dry

29 Jan 04:00 PM
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The Insider: King Dick wins

12 Feb 04:00 PM
New Zealand|politics

The Insider: Red Tape Test

19 Feb 04:00 PM

Taupo is the latest town looking to reopen a route to Wellington, joining others on the West Coast and Northland as they try to keep the planes flying.

Ministers have been lobbied heavily by local government officials about Air New Zealand's retreat and the councils are adamant that air links between the regions and the major centres are essential for economic survival, let alone development.

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Perhaps they have a case; internationally, their subsidies are dwarfed. In the fight over the open air agreement between the United States and the United Arab Emirates, the US airlines claim state support to Emirates tops US$6 billion, and that Etihad and Qatar Airways get more than US$17 billion each in interest-free loans and the like.

The extent of any subsidy is denied by the airlines, but anyone who has flown on a near-empty Qatar flight will wonder how they stay aloft.

NOTHING TO SEE HERE, FOLKS
What do the following have in common: Air New Zealand, Crown Asset Management, Genesis Power, Kordia, Meridian Energy, Mighty River Power, and New Zealand Post?

All have been through interesting financial and political times, but in each case the Finance and Expenditure Committee says its financial review reveals "no matters" to report.

It is understandable that Government MPs might not want to give them too much scrutiny, but Opposition MPs must be incredibly busy, or lazy, not to give them all a long hard look.

******

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It may just be that MPs on select committees are feeling hard done by.

Cuts in Parliament have led to the axing of morning teas and snacks for committee meetings. Now MPs have to bring their own, and some have even created baking rosters to make sure there are enough goodies to tide them over.

TUNE IN FOR BUDGET 2015
With most of Budget 2015 close to being locked down, some folk are still, somewhat hopefully, crossing their fingers and waiting for more money.

Poor old Radio New Zealand has had its funding frozen for years and is predicting losses.

The problem for the state broadcaster is that a number of key ministers just don't like the network.

Falling audiences and a reluctance to commercialise have created a bit of a vicious circle for RNZ and it is not easy to see it getting any relief.

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NEXT MAN IN DC

The gossip is getting louder about Trade Negotiations Minister Tim Groser (above) leaving this year to replace Mike Moore as Our Man in Washington, though some are wondering whether it might be more politically astute to offer the job to Labour's Phil Goff, taking him out of the Auckland political equation.

ANALYSE THIS
It's surely some mistake, but buried in answers to a select committee, the Police list the consultants they hired, including paying Qual IT Solutions $3.2 million for a year's work for a test analyst. That's one expensive analyst.

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