Management plans to start a listed fund that will enable "Mom and Pop" investors to participate in trading carbon credits.
The fund will "use swaps, futures and other derivatives to get exposure to those markets".
This announcement reinforces my belief that carbon trading will lead to tears from those who succumb to yet another round of irrational exuberance.
Rich speculators will hype up the price of carbon credits by distorting the market with derivative trading and eventually "Mom and Pop" will lose their shirts in the crash, just as they did with finance companies and the tech bubble.
Meanwhile, others will have salted away their profits in trusts and tax havens.
Carbon trading is being promoted as a green investment, but so far it has been anything but.
John Key's National Party government bought carbon credits for millions of dollars, which could have been used to start protecting New Zealand from the effects of climate change. Instead, our emissions increased during his tenure, making it that much harder for us to eventually meet internationally agreed targets.
It seems to me that carbon taxes would be a surer, simpler and more effective way to encourage everyone to reduce emissions.
In support of Paul Rea's letter (October 16), I, too have made representation to government on the overseas pension iniquity on many occasions.
The response resembles a broken record, and I quote — "You are not allowed to get two government pensions"; "It's not fair for you to receive two pensions."
This is outrageous. My late husband was an American citizen and, because of this, I was granted an American widows pension after his death.
On advising the NZ authorites that I had been granted this widows' pension, I was informed "this will be deducted from your national super".
Never having set foot in America, and having spent my working life (over 40 years) in New Zealand, why should America be subsidising my NZ pension.
NZ Grey Power recently voted against making any representation to government on this issue, as they shared the view it's not fair for anyone to get two pensions. Shame on them.
MPs have no problem accepting two pensions — Winston, what happened to your promises?
I would like to express my disapproval and anger at Horizons chairman Bruce Gordon's arrogance and the waste of ratepayers' money.
How are we, as ratepayers, going to benefit by him driving the most expensive car? Really — $97,000?
I can promise one thing — I will not be voting for him again.
We pay fairly high rates in Wanganui, and that is how he sees to waste it.
I don't know if it is acceptable to comment on service provided by a business in Wanganui, but having seen many accolades heaped on various organisations, I thought it worthy of a try.
Excellence is to be found in many spheres of activity.
Imagine the trauma of a car key snapping off in a lock on a Saturday morning.
Initial pleas for help from the recognised agency resulted in the familiar response — "Come see us Monday."
Monday came and further information from the vehicle franchise agents suggested a four-day delay and extravagant cost. A call to another possible source resulted in a dubious response, which led to another call to a locksmith in the Yellow Pages.
After a short phone conversation which discussed removing the lock barrel (which I had previously tried) I asked the "expert" to come around.
This he did, removed the broken half from within the lock and gave me various options for resolution depending on the "responder" in the key.
Long story short, all was sorted for half the price indicated by the vehicle agents including an extra key provided.
I would recommend talking to Complete Security and Installation (CSI) if you ever have a lock/key problem. Quick, honest and professional service — thanks, Noel.
A few months back you made an editorial decision to increase the permissible length of letters to the editor to 300 words.
Since then the increased length of letters has, in many cases, been accompanied by a decrease in readability and interest.
This just goes to show what I was told by my 3rd form grammar teacher many years ago — if you can't put you thoughts down in a few words, it's probably better for everyone if you keep them to yourself.
Please let's go back to shorter letters and more of them.
G A McGrath
Russ Hay correctly points out some problems in the Roman Catholic Church over homosexuality, lesbianism and paedophilia (Chronicle, October 16).
What we need to hear is our erstwhile writer pointing out the same problems in his own trade.
When he needs a lawyer or a doctor make sure he checks there are no deviants from the norm to compromise him. A more obvious one are schools — again, don't forget to ask the principle if there are paedophiles.
There is a big problem to solve with Russ not helping with a narrow focus. Try relating it to the Chronicle article a few days ago on young Nepalese girls being sold to India for prostitution. Is this religious as well?
F R Halpin