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Home / Business

The Insider: Who's bigger? Who cares?

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

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Photo / Getty Images

Photo / Getty Images

The schoolyard spat between Spark and Vodafone about who has the biggest 4G mobile network is rather amusing. Late last year Spark told Vodafone that the speed at which Spark was introducing 4G meant Vodafone could no longer claim its 4G network was the biggest. Vodafone naturally refused to admit any size inadequacy, prompting Spark to put up "Ours is bigger than yours" billboards. Vodafone now says it has complained to Mum (aka the Commerce Commission), which is yet to decide whether to waste taxpayers' money on deciding who'll get a telling off. Meanwhile, as 4G coverage keeps growing, the Insider wonders if the old question still counts - does size really matter?

WINSTON'S PR LOCKOUT
Winston Peters has hit the Northland campaign trail in a shiny bus, covered in the usual signage - including a reference to winstonpeters.com. But it seems NZ First is still getting to grips with using that internet thing for publicity - yesterday, access to the site was impossible without a user name and password.

THEIR MAN IN WELLINGTON
Diplomats are breathing a sigh of relief that one of their own has been appointed to run the Ministry of Foreign Affairs and Trade, replacing John Allen. Allen was a good, competent chap, but the demand for changes and budget cuts caused turmoil, then he was hung out to dry when his minister, Murray McCully, distanced himself from the reforms. The naming of Brooke Barrington as Mfat's new chief might bring an end to the turmoil, and a return to diplomats having some job security when an overseas posting ends. But an Ombudsman's report on the handling of leaks from Mfat is sure to re-open some old wounds.

GST SIDESTEP
A review of the Customs Act, and Customs in general, has started, but it is shying away from one of the main issues for NZ retailers - the imposition of GST on individuals buying from international websites. Customs is also probably hoping no one notices it is seeking remarkable powers to get information with very little accountability. If it gets its way, even the SIS will be jealous.

SECOND LOOK
It seems only yesterday that the Financial Advisers Act and the Financial Service Providers Act were passed, with much confusion over what was "advice" and who was an "adviser". But the laws were passed in 2008 and came into force in 2011, and it is already time for a statutory review. This will no doubt cause more gnashing of teeth over the complex compliance regime. The review will also cover the anti-money laundering legislation, which many financial institutions say is a compliance nightmare.

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BUYERS RULE
People often mock France for its bureaucratic rules, but anyone frustrated with limited warranties and repair bills which exceed replacement can only envy new French rules demanding that manufacturers tell consumers how long their appliances will last and how long spare parts will be available. From next year, products will have to be repaired or replaced free if they develop faults within two years of being purchased.

DODGY DIET
Lots of people follow Warren Buffett's investment advice, but they might want to look elsewhere for dietary tips. The world's greatest investor starts the day with Coca Cola for breakfast, and has at least five big Cokes a day, as well as lots of potato chips and ice cream. "I checked the actuarial tables, and the lowest death rate is among 6-year-olds," Buffett told Fortune magazine. "So I decided to eat like a 6-year-old."

YOU GO FIRST
The NZX is trying to push listed companies out of the era of the "old boy network" with its request they provide better information on diversity among board members and company officers. For the record, the NZX has two women on its seven-person board. And of the 14 managers profiled on its website, only three are women. A case of "do as I say ... "?

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