So what?

RNZ has reported that at least five of the nine government-appointed default funds have money tied up in these kinds of companies, which are banned by other government agencies such as the NZ Super Fund and ACC.

That tally now sits at six.

Kiwibank originally said its default fund did not directly invest in companies whose primary business was the manufacturer and sale of sale of arms or tobacco, or the provision of gambling services.

However, the bank now said that fund did hold some limited exposure – about 0.6 percent – in companies who carried out such activities.

That is because its conservative default fund invested in another fund managed by Vanguard, which is an index tracking fund, putting it in the same boat as Westpac, ASB and Grosvenor.

“Ideally, we would like to be in position where we have no indirect exposure to these types of investments.

“We’re seeking ways to achieve this goal while at the same time being pragmatic and meeting the fiduciary obligations to our customers,” a Kiwibank spokesperson said. Read more »

The PPTA and the Green Party are united in their criticism of online schools

What a coincidence, yesterday the Green party put out a press release on Voxy about online schools and only seven minutes later the PPTA did one as well.

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Clearly, neither the Green party nor the PPTA supports online schools. Here is a brief summary of the points each group made in their press release.

Read more »

No day off to commemorate Maori land wars

In a rare display of solidarity, Andrew Little and John Key are on the same page

A date is likely to be set to commemorate the New Zealand land wars but a public holiday isn’t on the agenda, Prime Minister John Key says.

Maori leaders have been pushing for a commemoration holiday and Deputy Prime Minister Bill English said last week a decision would be made.

“We’re not proposing a separate public holiday, we’re saying it’s likely there might be agreement at some point that a commemoration date can be set, subject to iwi agreement,” Mr Key told reporters on Tuesday.

Sadly, we all fell for a media party lie – that there would be an actual public holiday associated with observing the day.  At the time Whaleoil questioned how this was at all possibly without a referendum or consulting with business.  Taking a working day out of the economy costs a significant amount of money. Read more »

Andrew Little set the benchmark: 13 days

 

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Telling the Kingitanga movement that their votes aren’t important to the Labour Party was Little’s latest act of ballsuppery.  For a man looking for the missing million as well as a few more percent, he can’t afford to be so liberal with handing votes to other parties.

So Andrew has a record to beat:  13 days.

Will he make it?

Whaleoil General Debate

keep-calm-and-don-t-shoot-the-messenger-3Morning everyone, and welcome to Whaleoil’s daily General Debate post (another one called Backchat will start at 6pm). To participate you’ll need to register a free Disqus account.

There are some rules, and if there is one thing about Whaleoil that you need to know is that these rules are dispassionately and strictly enforced.

Face of the Day

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Attn: John Gillespie,

Dear John  Read more »

Word of the day

The word for today is…

ruination (noun) – 1. The act of ruining or the condition of being ruined.
2. A cause of ruin.

Source : The Free Dictionary

Etymology : 1660s, from verb ruinate “to go to ruin” (1540s), from Medieval Latin ruinatus, past participle of ruinare, from Latin ruina.

Daily Proverb

Proverbs 23

3don’t desire all the delicacies, for he might be trying to trick you.

Tuesday nightCap

Is it okay to punish people who have done nothing wrong?

Is it okay to punish people who have nothing wrong?

Is it okay to reward people who have done nothing right?

-Penn Jillette

A Liberal explains how he became a Libertarian.

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