Navman

ᔥ NZ Herald

Don’t you just love it when corporate bludgers think they get to say how the government spend money…of course they want super sorted…so they can avail themselves of more corporate welfare:

But the CEOs are looking to the Key Government to stake out a bolder vision for New Zealand and tackle big issues, including the eligibility age.

“The only real negative is the failure to address the superannuation debate when the public clearly gets it that something needs to change to maintain affordability,” said a CEO speaking under anonymity.
Jade Software chairman Ruth Richardson – a former National Party finance minister – said “New Zealand had flunked the Super debate”.

Navman chief executive Andrew Blakey said the post-election period “has been disappointing from Key”. He said there had been numerous examples of poor political management pointing to “the complete head-in-the-sand approach to superannuation”.

One chief executive suggested the country should introduce a voluntary “opt out” for New Zealand Super. “If the Government doesn’t have the balls, let’s see if the people do.”

Zespri chief executive Lain Jager said he was “disappointed the Government was not fronting up to the age of entitlement”.

Oh right…Navman was heavily subsidised by the previous Government…

In 2001 they got $1m in corporate welfare.

In 2005 they got another $1m, adding to the corporate bludger reputation.

ᔥ NBR

More corporate welfare bludgers have sold out offshore despite millions in taxpayer cash which off shore owners will now benefit from. How come there is outrage from The Greens and Labour over some clapped out rubbish farms in the Central North Island being sold to off shore owners but nary a squeak about corporate welfare beneficiaries selling to offshore interests?

Selling companies to Americans is fine but farms to the Chinee is outrage?

What perplexes me is why these corporate tech “entrepreneurs prefer to risk taxpayers money rather than their own as they expand their businesses, and then they have the cheek to pocket the coin lie they are genius investors.

Telephony software maker Zeacom has been sold to Canada’s Enghouse Systems for $US30 million

Zeacom says its fiscal 2012 revenue was $US29million.

Founder and CEO Miles Valentine would not give specific numbers, but Friday afternoon he told NBR ONLINE the company, which he founded in 1994, “Is nicely profitable and has been for years.”

A sale to offshore buyers can mean disappearing local jobs, whatever promises are initially made (Navman’s consumer business being a classic example).

…

Offshore investment can help a New Zealand-founded company expand globally and increase the number of local jobs.

But the annoying thing here is that, again, we’re looking at a company that’s received millions in government grants – which a North American owner will now benefit from.

Right Hemisphere, which received an interest-free loan of more than $10 million among other government backing, is another prime example. It is now owned by Germany’s SAP.