Media watch – Wednesday

4 July 2018

MediaWatch

Media Watch is a focus on New Zealand media, blogs and social media. You can post any items of interested related to media.

A primary aim here is to hold media to account in the political arena. A credible and questioning media is an essential part of a healthy democracy.

A general guideline – post opinion on or excerpts from and links to blog posts or comments of interest, whether they are praise, criticism, pointing out issues or sharing useful information.

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23 Comments

  1. Reply
  2. Simply pass a law enforcing the mandatory appointment of union representatives onto company boards! They’ll be far more positive towards Labour than current directors, who are basically the base of the National Party.

    Representing workers at the corporate governance level is one of the characteristics of ‘Rhenish capitalism’. It means that instead of having highly overpaid CEOs transferring the value of the company into their own bank account . . .

    Companies invest in worker productivity, workers earn more and the companies become more profitable. Everyone wins!

    Reply
    • Blazer

       /  July 4, 2018

      this…’The great Business Confidence Crisis is just an awesomely predictably PR stunt drummed up by BusinessNZ and the National leader’s office . ‘

      Reply
    • High Flying Duck

       /  July 4, 2018

      If you ignore the abundant signs that economic growth is dropping from a forecast 3.5% to 2% or less and that there are inflationary pressures emerging as growth falls, hiring intentions are softening, investment rates falling and international trade barriers going up then yes – all PR.
      The situation is still net positive in general, but to suggest the confidence crisis has no legitimate basis is ignorance.

      Reply
      • Blazer

         /  July 4, 2018

        Winston already signalled this last year.

        Reply
        • High Flying Duck

           /  July 4, 2018

          Winston knew what his & Labour’s policies were, so he should have been able to signal it.
          If Winston was picking it, was he part of the predictable PR stunt drummed up by Bus NZ & the National leader’s office?

          Reply
          • Blazer

             /  July 4, 2018

            Winston was not talking about local business confidence.
            He was talking about the international factors that actually matter.
            The GFC you often refer to ,occurred without any influence relating to business confidence in NZ.

            Reply
            • High Flying Duck

               /  July 4, 2018

              But luckily we did well during the GFC due to sound domestic fiscal management by the government.

              Global growth has been sound. It is NZ moving out of step – there are headwinds and trade issues that affect confidence, but there is nothing external that accounts for NZ growth suddenly slowing. It is domestic policy putting the brakes on.

              The Tweet above is just a cop out:

              – Labour get in and immediately show lack of clarity as well as making
              unilateral decisions that spook businesses. They announce restrictive
              legislation and fail to consult with business on their policy objectives.
              – Business confidence plummets and lefty commentators say it’s partisan.
              – Business indicators then fall as anticipated in the confidence surveys
              – Lefty commentators then decide businesses talked themselves into a
              downturn

            • Blazer

               /  July 4, 2018

              If you equate borrowing around 100 billion dollars ,(more than the cumulative total over the last 150 years)as some brilliant pancea for a crisis ,created by the very people you just indebted future generations to as laudable,that is your problem.
              In case you have not noticed there is a tidal wave of trade restrictions about to crash all around the world ,sabre rattling in the Asia Pacific and Eastern European regions and a hike in the price of oil.

              The impact of NZ business confidence is a tiny factor in constraining the restless Bear that has been contained for…10 years.

            • High Flying Duck

               /  July 4, 2018

              You can’t blame the borrowing. NZ is in surplus having reversed Cullens decade of deficits and the handled the earthquakes and GFC – a phenomenal achievement. After dealing with all that, Govt debt remains very low (just ask Grant Robertson).

              Oil prices have eased – but the Government has lumped a huge extra cost on us to make up for it.

              Now the Labour Govt are ramping up Govt. borrowing even more, and yet…

            • Blazer

               /  July 4, 2018

              shameless fake news…’reversed Cullens decade of deficits’

            • PDB

               /  July 4, 2018

              Not so Blazer – PREFU during the 2008 election campaign said on the path Labour had set the country we would face 10 years of deficits only reaching surplus at best during the 2018/19 year. This was based on medium term projections and before the GFC actually got a lot worse & before the earthquakes.

              Under Labour debt was forecast to peak at 30.1% of GDP in 2018/19 (again without factoring in the earthquakes) – National handed the economy over to the Ardern govt at around 22%.

              Thus endeth your lesson.

            • Blazer

               /  July 4, 2018

              @PDB…PREFU said’…do me a favour.
              Cullen ran surplus year in year out.
              Another example of your Labour will/would have!Fail.

        • Gezza

           /  July 4, 2018

          Winston already signalled this last year.

          Funnily enuf, Winston explained how he knew at Question Time today. Part of it was the weather.

          Hon Simon Bridges: Well, if he said “doomsday scenarios from the Opposition”, why did he say that dark clouds were coming when he formed the Government back—what was it—in November last year?

          Rt Hon WINSTON PETERS: Because some of us can actually read into the future, around the corner. [Interruption] I’m the only person in this House who predicted that Trump would win and Brexit would be successful—not after the event. That was said back then because I had a sense that there was going to be a long, hot summer, that it would affect the economy—and there’s been a downturn. Then you’ve got the dispute between Trump and the Chinese—that may have an effect on our trade. So it’s always wise to understand the people and surroundings you’re dealing with. That’s why I said that.

          Hon Simon Bridges: What, then, will be the growth figures for the next couple of years?

          Rt Hon WINSTON PETERS: As the IMF was at pains to point out, if it’s going to be 3 percent for the next five years, it’s just quite possible it’ll be 3 percent every year, or thereabouts.

          Hon Paula Bennett: Thank you for the Winston show!

          Rt Hon WINSTON PETERS: No trouble; it’s free.

          Mr SPEAKER: I just want to check that the Acting Prime Minister and the deputy leader of the National Party have finished. I’d just like to make one other suggestion, and that is that when the leader is asking questions, if the deputy leader can’t interject or wave her arms around, it means that people get a clearer understanding of what the leader is asking.

          Reply
      • PDB

         /  July 4, 2018

        Govt totally ignores business, on a whim suddenly shuts down a whole industry without consultation or warning, and is about to implement 1970’s style workplace reform and we are meant to believe that business confidence isn’t affected or that this govt’s policies won’t have a detrimental affect on the economy?

        Reply
  3. Gerrit

     /  July 4, 2018

    Why don’t workers pool resources under their selected union umbrella, start or purchase companies so they can take ALL the profits home with them?

    Worth a read

    https://hbr.org/1987/09/how-well-is-employee-ownership-working

    “Nor is it particularly difficult for a company to set up an ESOP. You begin with a trust fund. You then contribute new shares of company stock to the plan or contribute cash—again, this is tax deductible—for the ESOP to buy existing stock. You can help the ESOP borrow to purchase either kind of share.”

    To get ESOP operating successfully requires tax restructure. Wonder if Cullen is looking into the tax regime to make ESOP viable. .

    Reply
    • Blazer

       /  July 4, 2018

      the average worker struggles to keep his head above water as it is.Companies like Fletchers offer stock options with payment plans.Alot of those will be underwater now given the inept management of the last decade.

      Reply
      • Gerrit

         /  July 4, 2018

        If you only look for failures…that is what you will find.

        People working for the Warehouse seem pretty happy.

        Even workers owned businesses are not immune from…failure

        http://labornotes.org/2004/04/lessons-recent-failure-weirton-steels-esop

        Reply
        • Gerrit

           /  July 4, 2018

          From the link

          “Lesson 4: Worker-ownership heightens the need for workers to be financially literate.”

          Reply
        • Blazer

           /  July 4, 2018

          oh really…tell these people…’About 130 jobs are expected to go at the Warehouse Group as the company looks to streamline its operations, but First Union says this number may rise.’

          and the WHS s/p hovers around the $2 mark….not very inspiring..at all.

          Reply
  4. This is from the US, but it is probably a similar trend here:

    Reply
  5. Reply
  6. PDB

     /  July 4, 2018

    Expert miner and now extremely successful & rich lawyer;

    Reply

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