Doug Somer-Edgar has the Reverse Midas Touch, but usually only when he touches someone elses money. Just about everything he or his associated companies has touched has turned to shit.
Clients of financial adviser Money Managers, who were advised to put their money into the First Step investment trusts, have been told by the trustee they lost $59.7 million in 2008.
Much of the “non-recoverable investment losses” comes from losses on loans the trusts made to Club Finance, a South Auckland vehicle finance company which was 50 percent owned by Doug Somers-Edgar, the founder of Money Managers.
It is about time that he had “I am a Crook” tattoo’d in large black letters across his forehead.
Still I guess the old adage of fools and their money being easily parted is still true today especially when it is Doug Somers-Edgar parting the fols with their cash.
Brenda Pilott, the fool who runs the PSA union, is worried.
Public Service Association national secretary Brenda Pilott warned if civil servants were denied pay increases, there could be an exodus from the sector.
“We understand times are tough, but we expect to gather round the bargaining table in good faith, not have the decision already made before we sit down.”
Gosh she is worrying about people leaving the public service like that is something bad. There are a great many of us out there that pay for these paper shufflers that wish the exodus would just hurry the fuck up. That way the formerly non-productive paper shufflers will become productive members of society and the cost of the civil service will become less of a drain on the productive sector.
And before any lefty twat (yes Fishfurter and Harp-on, I mean you) gets their thong all knotted explain to me just exactly how and where nurses, teachers, firemen and police would go to the private sector equivalent that would cope with “an exodus”
Dodgy Nathans Finance director John Hotchin and two of his co-directors have appeared in the Auckland District Court today on criminal charges relating to the failed finance company.
Hotchin is the brother of Hanover Finance founder Mark and faces three charges under the Securities Act.
His co-directors, Donald Young and Kenneth Moses (known as Roger) face six charges each.
I know a fair bit about this crowd and their nice little money-go-round between Nathans Finance and the parent company VTL Group. I just wish i had taken photos with my cellphone of the whiteboard diagrams I saw in their board room on numerous ocassions.
I am sure the Serious fraud Office though have pieced it all together and so whatever is coming their way they richly deserve it.
New challenge faces whale hunters – Officials are looking into claims there is a new legal avenue that could be used to stop whaling in the Southern Ocean. Australian academic Professor Don Rothwell and other experts, convened by the International Fund for Animal… [NZ Herald Politics]
Just who decided that whales were cuddly and we shouldn’t farm them like other animals in the sea. I haven’t tasted whale meat but I’d like to.
Personally I think the best way to preserve animals is to put them on the menu. We aren’t short of cows and sheep are we? They’re not likely to go extinct anytime soon, are they?
Now if only the Maori had decided to farm the Moa instead of mass slaughter, imagine the export possibilities. Same with all the other “endangered” birds in NZ. Put them on the menu and farm the suckers, then they won’t be endangered anymore.
Same with whales, pick a species that is plentiful, set quota, study them to make sure they are still a growing population even after harvesting, end of problem.
Selwyn College, deservedly, has the reputation as a school of lefty wombles, more interested in cuddles and hugs than academic outcomes. People try to avoid sending their kids there like we all try to avoid cancer.
Well, Education Minister Anne Tolley made the announcement this afternoon following an Education Review Office finding that called for more intervention that she is sacking the Board of Trustees and appointing a Commissioner to run the wayward school.
I think the last time a Board of Trustees was sacked was by Lange at a Nga Tapuwae school in South Auckland (Now renamed Southern Cross Campus). At the time he appointed my old Headmaster John Graham as Commissioner.
hat tip LGF
Out-Takes of Alarabiya-TV Reporter Hannan al-Masri Learning of a Hamas Missile being Fired from the Ground Floor of the Building housing the Alarabiya Studio. It is beyond my comprehension why she thinks this information is such a laugh.
(Intercepted by an Israeli Satellite Hobbyist) Turn on the closed captions to get a translation.
IDF Arabic-language spokesman Capt. Avichay Adraee discusses the illegal use of mosques as weapons storage facilities (forbidden by both international law and Islamic law) and Israeli efforts to avoid harming non-combatants despite Hamas’ continuing use of civilians as human shields.
The IDF has been superb at utlising Web 2.0 technologies in the fight against bias in the Western media. They have had a Youtube account going since day one, numerous blogs supporting them and Facebook groups. This is the second Arabic language video from the iDF.
UN Secretary-General Ban Ki Moon is in Israel and has said that “death toll in Gaza had reached an unbearable point”.
Strange, isn’t it? The UN said and did virtually nothing about the genocide in Rwanda, the same in Darfur, but for their darling Pally buddies, a few hundred deaths of Hamas terrorists and their supporters is ‘unbearable’?
The UN and the other apologists for Islamic terrorist group clearly have a very distorted reality. Bear in mind that Hamas has been at war with Israel for decades and still has as its stated aim to clear Palestine from the Jordan to the sea of the Jew.
The Israeli’s will never give in because to give in will be to die.
i suppose it was nice of him to mention that Israel’s citizens have the right to live without fear of rockets. A million Israeli citizens live within rocket range day and night, he told reporters, and “this too must stop permanently.” He claimed that Hamas’s use of private homes and civilian institutions was “unacceptable.”
Yeah but they won’t do anything about stopping Hamas, they never do.