Michael Cullen has cost this country literally billions because of his inane financial decisions. The latest election bribe of him and Jim Anderton is all over the news right now:
NZ Post has warned 2012 is crunch time, with the state-owned enterprise needing hundreds of millions of dollars in capital for subsidiary Kiwibank as well as flexibility to cut store numbers and halt post delivery on some days.
In a toughly worded letter to State-owned Enterprises Minister Tony Ryall, NZ Post chairman Michael Cullen said most short-term fixes had been exhausted.
The only short-term fixes that Michael Cullen knows are to raid the taxpayers piggy banks, pick their pockets, and scratch around down the back of the sofa for spare cash. There is none.
Best that some facts are faced and Kiwibank starts paying its way or it will be sold…and who better to make that recommendation to the Minister than the putz that caused all this grief in the first place.
Tony Ryall can then appoint Cullen to Kiwirail too and get him to turn that around since he blew a billion on buying a clapped out load of scrap steel.
Since you’re here … we’ve got a favour to ask. Advertising revenues across media are falling fast. And unlike other news organisations, we haven’t put up a paywall – we want to keep our work available to everyone. Please Click Here Now to subscribe to an ad-free Whaleoil. Your contribution helps us survive in a hostile market.