Media watch – Tuesday

26 February 2019

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.

Previous Post
Leave a comment

39 Comments

  1. Reply
    • Alan Wilkinson

       /  26th February 2019

      Funny how the facts of life are a revelation to some folk. More demand = higher prices. More costs = higher prices. Inflation = higher prices.

      Colour Lefties amazed.

      Reply
  2. High Flying Duck

     /  26th February 2019

    Reply
  3. Blazer

     /  26th February 2019

    ex National P.M…..’That’s why the lady is a….Dame!’🤦‍♂️

    https://www.stuff.co.nz/business/110861300/mainzeal-civil-trial-judgment-to-be-published-at-noon

    Reply
    • Alan Wilkinson

       /  26th February 2019

      You mean because she has liability insurance?

      Reply
      • Gezza

         /  26th February 2019

        In a statement delivered through legal firm Chapman Tripp, Shipley, Tilby and Gomm said they were considering their options.

        “The court’s basis for finding liability appears to have novel aspects which will require careful consideration. The directors will not comment further at this stage as they take advice and consider their options,” the statement said.

        Of course. 😐

        The judge invited the parties to tell him if he had made any mistakes in the way he had calculated the damages awarded.

        “I am conscious that it is possible that I have engaged in arithmetical mistakes, omissions or other errors of this kind,” he said.

        Huh? o_O

        Reply
        • Kitty Catkin

           /  26th February 2019

          Pretty thick judge…I would make arithmetical mistakes, but ‘dI have enough sense to have my figures and equations checked by someone whose skills were greater than mine in this respect.

          Reply
        • Alan Wilkinson

           /  26th February 2019

          The insurance company will be deciding whether to appeal or challenge the calculation. Not sure whether a judge is entitled to call in other expertise for an award calculation. I would doubt it.

          Reply
      • Alan Wilkinson

         /  26th February 2019

        $6m is chump change compared with how much of other people’s money a government can waste.

        Reply
        • Gezza

           /  26th February 2019

          Might not be how you’d see it if they’d diddled you.

          Reply
          • Alan Wilkinson

             /  26th February 2019

            Governments diddle us all the time. You can’t take them to court and get recompense from their insurance company.

            Reply
            • Gezza

               /  26th February 2019

              Uh huh.

              Chump change I reckon would still not be how you’d see it if your neighbour who was happily flying the John Key tea towel flag had diddled you.

            • Alan Wilkinson

               /  26th February 2019

              Except she didn’t. Someone else diddled everyone and she wasn’t suspicious or knowledgeable enough to detect and prevent it. Neither were her fellow directors. Of course everyone else could and would have done it after the event doubtless you included.

            • Gezza

               /  26th February 2019

              How much do you reckon she makes out of directorships she’s not suspicious or knowledgeable enuf about?

            • Alan Wilkinson

               /  27th February 2019

              Not enough to.pay for the trouble it has caused her obviously. Do you think she should have foreseen the leaky building claims, the GFC and the Siemens contract debacle?

            • Gezza

               /  27th February 2019

              Not my concern. Jens obviously expects directorships to pay off for her & it didn’t. Shit happens to everybody. Few have the wherewithal to have insurance to cover them for a bad investment. When shit happens to the already well-off too, you want everybody to cry a river over it? From what I read yesterday (there were about 3 articles in the Herald, she knew they were in the shit). What about the unpaid subbies who got stiffed. When will you be sympathising with them?

            • Alan Wilkinson

               /  27th February 2019

              It’s nice you don’t have to have any concern for reality. Directors do which is why they all have to have liability insurance because the reality is they can’t know all the risks the law makes them responsible for. Who did the bad work that killed the company? We don’t seem to have heard that.

            • PartisanZ

               /  27th February 2019

              It’s terribly unclear this, isn’t it Alan –

              “Mainzeal directors were reckless, “had adopted a policy of trading while insolvent”, and “used money owed to trade operators, particularly sub-contractors, as working capital”.

              The directors also relied on assurances that the millions of dollars Mainzeal had lent to its China-based parent company Richina Pacific would be paid back if Mainzeal got into trouble.”

              Newsroom

            • Alan Wilkinson

               /  27th February 2019

              The company wasn’t insolvent if Richina Pacific honoured its debt. Those whose only risk management is whether they can get to the toilet on time are not in a position to call that reliance reckless. It would be equally reckless to call in the liquidators as soon as issues arose. Then those making claims would immediately be dishonoured along with all the subbies then current. The directors would not have been in a position to know the outcome of the claims and Siemens dispute at that time. All of these matters are significantly unpredictable and being wise after the event is much easier for all unconcerned.

            • Alan Wilkinson

               /  27th February 2019

              Who knows, G? It all depended on Yan’s integrity and her judgement of it after they had worked together for a decade. Plus I have no insight into the causes of the leaky building claims and the Siemens fiasco that killed it. Who was responsible for those and should/could the directors have avoided them?

            • Gezza

               /  27th February 2019

              He doesn’t seem to have had much integrity Al.

            • Alan Wilkinson

               /  27th February 2019

              In retrospect but it took a decade to show apparently.

            • Gezza

               /  27th February 2019

              Is she still a director of Richina Pacific – done extremely well for itself with money taken out of Mainzeal, it seems.

            • Alan Wilkinson

               /  27th February 2019

              Delisted from NZX long ago. Pretty unlikely she has any involvement now.

            • Gezza

               /  27th February 2019

              I tried to find out but no luck. Might still be? Morality can be very relative. Money is money to those with money. If she bailed, wonder if she still has shares or what she got for them if she flogged them off quickly. Wasn’t she flying the All Black tea towel she just up the road from you? Could you ask?

            • Alan Wilkinson

               /  27th February 2019

              I wouldn’t be so rude. Obviously you would.

            • Gezza

               /  27th February 2019

              Probably not. Doubt she’d say, anyway. Be interesting to know though.

            • Alan Wilkinson

               /  27th February 2019

              The latest article says that Yan was found jointly liable for the entire $36M and the judge felt the other three defendants had a valid claim against Yan for any excess of their liability over their insurance coverage.

  4. Gezza

     /  26th February 2019

    Person shot by police after serious incident in Christchurch

    Police have shot and arrested a man after a ‘serious incident’ in Christchurch.

    St John spokesman Gerard Campbell said a man was taken to Christchurch Hospital with critical injuries.

    Nearby resident Vaughan McLean said a car, closely pursued by four police cars, lost one of its wheels as it turned into Eveleyn Couzins Ave off North Avon Rd about 7.30pm. He said he grabbed his daughter and jumped over a fence as police shot at the vehicle.

    “We came running out to have a look … they [police] were firing … whether it was shrapnel off the road flicking past us or whatever but it was really close and you could hear it hitting our fences and bouncing off the house.”

    He said he lay on the lawn with his daughter underneath him until the gunshots stopped, before running back inside.

    Nearby resident Sonny Singh said he heard “continuous shooting” on the street.
    “It sounded like fire crackers going off … It was really scary, it was horrible.”

    He said people could hear the shots from about 1 kilometre away and had all come out of their homes.
    https://www.stuff.co.nz/the-press/news/81342182/police-responding-to-serious-incident-in-christchurch

    So, now we wait to hear what the hell this was all about. If we ever do.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s