More Green party deceit

The Green taliban just can’t help themselves when it comes to telling fibs. Of course they are aided and abetted by the left-wing slant of the NZ Herald who give them prominent headlines featuring their lies.

The Green Party says that shares sold in the recent float of Mighty River Power went to only a small group of investors – and claims of widespread ‘mum and dad’ ownership are false.

They say half of the shares in Mighty River Power sold by the Government went to just 13,000 people, with 10 per cent going to just 400 individuals, trusts and organisations. 

Those numbers are demonstrably false and they know it. But Russel Norman continues with his envy attack:

Green co-leader Russel Norman said today that while 113,000 investors bought 26.9 per cent of Mighty River, half of those went to fewer than 13,000 investors who bought an average of nearly $35,000 worth of shares each.

“That included a select group of fewer than 400 individuals, trusts, and organisations who bought 10 per cent of the retail shares with an average investment of nearly quarter of a million dollars each. The remaining 101,000 retail investors bought only 13.4 per cent of the company – less than the amount taken by overseas institutions, ” said Norman.

The real numbers are at the bottom of the article but to get there you have to read all the Green spin.

Total value raised by Govt in float – $1.7b

Number of NZers who bought shares – 113,000
Number who pre-registered – 440,000
Average value of shares purchased – $8220

Percentage of shares staying in NZ hands: 86.5pc – $943m
Percentage owned by NZ ‘retail investors’ – 26.9pc
Percentage owned by NZ institutions – 8.6pc – $300m
Percentage owned by overseas institutions – 13.5pc – $472m
Applicants without a CSN – (suggesting first time investors) – 68pc

The Greens obviously do not want the population owning shares, unless it is in their pet projects. You would have thought they’d be supportive of Mighty River Power because they use renewable resources almost exclusively to generate their power. For the Green taliban though they’d prefer everyone to live in poverty and not be aspirational at all.

 


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  • Morgy

    When I read the first part of it I thought ‘wow I am just one of a few mum and dad investors’ and then as I kept reading realised it was just more shit from the Greens. 101,000 mums and dads….not bad. First time investors like me was a good number too.

    Also he claims “The remaining 101,000 retail investors bought only 13.4 per cent of the company”. Now is that 13.4 of MRP or 13.4 of the 49% on offer?

    • Rimutaka

      Can’t you read lad. The answer is in the article “Percentage of shares staying in NZ hands: 86.5pc – $943m

      Percentage owned by NZ ‘retail investors’ – 26.9pc

      Percentage owned by NZ institutions – 8.6pc – $300m

      Percentage owned by overseas institutions – 13.5pc – $472m”

      As a first time investor how much due diligence did you exercise, or did you buy because JK told you is was a good deal?

      Meh if was looking at floats Synlait looks much more exciting than MRP, I think you got sucked in by JK’s and Joyces rhetoric. I didn’t invest because it was a dull deal.There’s a sucker born every minute eh.

  • steve and monique

    Greens need to crawl back under whatever rock they crawled out from.

    • ALH84001

      Same rock as yours Steve & Monique?

      Really, is this what passes for rational commentary on theis blog????

      • onelaw4all

        You had me at “pies” earlier on, oh purveyor of master debating.

        • spollyike

          ONE LAW FOR ALL!

      • Muffin

        It’s hard to have a rational commentary with a fucking retard…….ALH84001= retard

      • Yes it does, but you would not understand this as it is coded.

      • Mangi Nambis

        With a handle like that I gather you must know a lot about rocks

    • AnonWgtn

      As long as Greenpeace get the publicity the media love them, so they can throw as much crap as they like. Any publicity is better than none.

  • Sidey

    I wonder how the figure for number of NZer’s who bought shares has been treated re: nominee/custodial services? Larger brokerage/fund management firms will be holding shares under a custodial service for their clients. So on the register it will show as one registered shareholder per tax rate, but they could actually relate to thousands of owners who have the underlying beneficial interest. This could significantly understate the true number (who could have the shares transferred into their own names if they wanted).

    I’m not in NZ and haven’t seen the application documentation, so not sure if buying via a custodial service was disallowed, but I’d be surprised given the underwriters most likely have retail operations.

    • GregM

      The nominees were required to provide the names of their customers to ensure only NZers could get shares. This is very unusual, and shows how carefully the government handled the float. But you are correct, the nominee was then only listed as one entity.

  • tarkwin

    Never let the truth get in the way of a good story. I wonder how many green Party members bought shares?

    • Sir Cullen’s Sidekick

      None

      • tarkwin

        If only you could trade beans for shares Sir, they’d all be in.

    • AnonWgtn

      Only through their Kiwisaver accounts.

  • boristhefrog

    And of course trusts and fund managers likley represent far more people than 101,000 – Kiwisaver for example….

  • Mangi Nambis

    Well if they didnt try and sabotage the fucking thing with their fucked up power policy how many more “Mum and Dad” investors would have taken part.

    • I agree. I only know of 2 other people who pre registered for shares, and both decided not to after the Taliban sabotage. Mum and dad investors, including retirees, are generally quite risk averse due to their tight financial obligations with retirees not daring to put their savings in a venture that could leave them high and dry; so when the Labour/Green party joke occurred and turned a reasonably safe investment into a potential disaster the Greens can take full ownership of lower numbers of ‘mum and dad investors’. Norman IAFC!

      • Mangi Nambis

        I was in the same boat, going to buy for myself as well on behalf of each of my three kids. With that bullshit they released I hesitated.
        Norman is a Len Brown then!

        • Whanga_Cynic

          We’re another “mum and dad investor” who didn’t after the Green/Liebour disruption.

    • OT Richter

      Yes, what exactly is he proud of here?

    • James

      I had $2,000 lined up to invest … would have been my first foray too. But decided against it after the power policy was announced. Too much risk for me!

  • Jax

    The numbers also dont tell the whole story anyway. They treat each buyer as an individual. Whereas, I bought shares on behalf of our whole family (myself and wife and 2 kids) its all shared money really so we are all are owners now as I intend on giving them to the kids but I and my wife own them until I do – but they are just in my name not hers. – id imagine most people are like this, so 100k individuals = a lot more than that in real terms.

  • Sir Cullen’s Sidekick

    Let us all admit MRP float was an utter failure folks….

    • Harry B’Stard

      why should we add to the green slime lies?

      • Sir Cullen’s Sidekick

        You still can’t figure out what I am saying he he he…..

    • Chad Chambers

      Agreed. And that is just now. Foreign consortia will be quick to erode whatever “Mum & Dad” ownership currently exists.

      • sheppy

        Only if the Green Taliban sabotage things again!!!
        Last time I looked you needed both buyers AND sellers to change ownership of shares

        • Chad Chambers

          Really? I think we already know the mindset of the Kiwi investor – residential property rules! Nothing is going to change that anytime soon.

          • sheppy

            Judging by their actions Greebour won’t, or is it down to #HeyClint to decide on policy these days?

      • Bad__Cat

        Why?

        • Chad Chambers

          Why? Profits are huge and extortionate, that’s why. The line driven home by the Nats was that these companies would stay in NZ hands. 13.5% already gone. Gone from what we all owned equally. The rest of the wealth concentrated upward like always.

    • Mangi Nambis

      How so?

      • Sir Cullen’s Sidekick

        I am brain washed by the Greens

        • Mangi Nambis

          Forgive me, I am new to this :-)

        • rockape

          Brainwashed by G&T more likely.

  • maninblack

    Who fucking votes for the greens. That russel norman is a total cunt.

    • Chad Chambers

      Evidence please.

      • Phil T Tipp

        By way of evidence, I’ll point you in the direction of a discussion from yesterday, in relation to mining on the West Coast:

        http://www.whaleoil.co.nz/2013/05/labour-supports-west-coast-mining-laments-lost-opportunities/#comment-905557675

        Yes, I think you’ll find Russel Norman really is another fucking cunt.

        • Chad Chambers

          Could find no mention of Russell Norman, nor the Green Party in the OP, apart from Whaleoil’s usual linking dross that is. Pardon me if I don’t take the opinion of posters here on whether someone is a cunt of not.

          • Muffin

            You should make like that retard ALH84001, if you think Russell Norman has more brain cells than a newt, and bail.

          • Chad Chambers

            Dr. Norman to you, Muffin.

          • Dr in this case means Dribbling Retard Normal Norman.

          • Muffin

            Doctor…. Ha! My two year old has more intellect than him…. And probably you too.

    • ALH84001

      Wow! Such intelligent discourse… You’ve got the cream of society here Mr Whale.

      Time to bail. Need a shower after reading this rubbish.

      • In Vino Veritas

        You disagree then ALH, that Norman has told blatant lies? I think he realises most of his small contigent of followers are so rabid that they believe anything he says, even though much of it is unadulterated drivel. Norman is a quite similar Jim Jones. Do you think he might try and create a Jones like socialist paradise? Maybe he’ll shift all the Greenies to Guyana.

        • Chad Chambers

          IVV – WHERE FRUIT MEETS LOOP.

          • In Vino Veritas

            What? You don’t think that Norman’s preaching bears some similarities to Jones? His Jonestown was supposed to be a socialist nirvana after all.

          • Chad Chambers

            No, I don’t think Russell Norman can be compared to Jim Jones on any level. To suggest so is schoolyard bullying, a paranoid show of strength and bluster like so much about this forum, and I suspect you don’t really meant it.

          • In Vino Veritas

            You have a soft petal like attraction to bullying Chad. It appears you relate any comment that does not meet your seal of approval to bullying. It would seem you have absolutely no idea what bullying actually is, and couldnt identify it if it slapped you in your face.

            Jim Jones was a communist who, demonstrably unable to make progress in the mainstream, strategised that he would need to infiltrate the church. He then attempted to create a socialist nirvana in Jonestown Guyana, in 1972. Jim Jones ordered his followers to take cyanide since he claimed (a conspiracy theory) that hostile intelligence organisations were conspiring against his “Peoples Temple” and that their babies would be taken into facism.

            Russel Norman was involved in the Australian Communist Party before his arrival in NZ to study the NZ Alliance Party for his PhD in 1997. Demonstrably unable to may any progress in the mainstream, he became a member of the Green Party, a small, but vociferous socialist organisation with a rather large PR spend. Norman, a became careerist politician and then began an attempt to make NZ a socialist nirvana. Norman consistently rails against NZ intelligence agencies, promotes conspiracy theories and tells bald faced lies (see above and do a bit of reading).

            If I was as daft as you Chad, I would suggest that you were in fact the bully, brooking no argument against whatever it is you purport to stand for. As Chopper once said, “harden the fuck up”.

          • Ronnie Chow

            poor chad . poor , poor chad . you hang around here for what , exactly ? confirmation of your dorkiness ?

          • Bad__Cat

            Chad Chambers – where ears meet vacuum

      • Ronnie Chow

        How are you going to wash your brain in the shower ?.

      • ThievingBastards

        ALL of you greenie cunts need a shower. Don’t suppose you could educate your mates?

    • williamabong

      No he’s an ankle, which is three feet lower than a cunt.

  • spollyike

    WHERE FRUIT MEETS LOOP:

    The rat has a hard life with no thanks or special privileges but works hard in the withering heat all summer long, building and improving his house and laying up supplies for the winter.

    The grasshopper thinks he’s a fool, and laughs and dances and plays the summer away. Come winter, the squirrel is warm and well fed.

    The shivering grasshopper has no food or shelter, so he dies out in the cold.

    Ok here’s the Labour/Greens coalition version of the above:

    The rat works hard in the withering heat all summer long, building his house and laying up supplies for the winter. The grasshopper thinks he’s a fool, and laughs and dances and plays the summer away.

    Come winter, the rat is warm and well fed.

    A social worker from WINZ finds the shivering grasshopper, calls a press conference and demands to know why the squirrel should be allowed to be warm and well fed while others less fortunate, like the grasshopper, are cold and starving.

    The Campbell Socialist Live shows up to provide live coverage of the shivering grasshopper; with cuts to a video of the rat in his comfortable warm home with a table laden with food.

    The Herald inform people that they should be ashamed that in a country of such wealth, this poor grasshopper is allowed to suffer so, while others have plenty.

    The Labour and Green Parties and Mana, Greenpeace, Animal Rights and Forest & Grasshopper NZ demonstrate in front of the Rats house. The TV3, interrupting a quasi-ethnic cultural festival special from Rotorua with breaking news, broadcasts a multi-cultural choir singing ‘We shall overcome’. Russel Norman twitters that there should be an inquiry…

    Willie Jackson and John Tamihere rant in an interview with John Key that the Rat got rich off the backs of grasshoppers, and calls for an immediate tax hike on the Rat to make him pay his ‘fair share’ and legislates a charge for rats pay for free food for baby grasshoppers who are living in “poverty” which is distributed at grasshopper only schools.

    In response to pressure from the media, the government drafts the Economic Equity and Grasshopper anti Discrimination Act, retroactive to the beginning of the summer.

    The Rat’s taxes are reassessed. He is taken to court and fined for failing to hire grasshoppers as builders for the work he was doing on his home and an additional fine for contempt when he told the court the grasshopper did not want to work. The grasshopper is provided with a state house in central Auckland, financial aid to furnish it and an account with a local taxi firm to ensure he can be socially mobile, as well as MYSKY. The Rat’s food is seized and re distributed to the more needy members of society, i.e. the grasshoppers.

    Without enough money to buy more food, to pay the fine and his newly imposed retroactive taxes, the Rat has to downsize and start building a new home. Housing NZ takes over his old home and utilises it as a temporary home for asylum seeking cats who had hijacked a plane to get to NZ as they had to share their country of origin with mice. On arrival they tried to blow up the airport because of Gareth Morgans and Cameron Slaters apparent love of dogs and hate speak about cats.

    The cats had been arrested for the international offence of hijacking and attempted bombing but were immediately released because the police fed them pilchards instead of salmon whilst in custody thereby not respecting their culture. Initial moves to return them to their own country were abandoned, because it was feared they would face death by the mice. The cats devise and start a scam to obtain money from people’s credit cards, they also claim that they were the original inhabitants of NZ and want compensation as the indigenous first species.

    A Native Affairs special shows the grasshopper finishing up the last of the rats food, though spring is still months away, while the state house he is in, crumbles around him because he hasn’t bothered to maintain the house. He is shown to be taking drugs. Inadequate government funding is blamed for the grasshoppers’ drug ‘illness’.

    The cats seek recompense in the Supreme Court for their treatment since arrival in NZ. Fortunately for them the Chief Justice Meolias is of Cat descent or the Hello Kitty tribe.

    The grasshopper gets arrested for stabbing an old rat during a burglary to get money for his drugs habit. He is imprisoned but released immediately because he has been in custody for a few weeks. Labour and the Greens express outrage at the institutionalised racism in the NZ justice system. He is placed in the care of the probation service to monitor and supervise him.. Within a few weeks he has killed a rat in a botched robbery.

    A commission of enquiry, that will eventually cost $10,000,000 and state the obvious, is set up by the Labour/Green coalition. Additional money is put into funding a drug rehabilitation scheme for grasshoppers and legal aid for lawyers representing asylum seekers is increased. The government praises the asylum-seeking cats for enriching NZ’s multicultural diversity, and rats are criticised by the government for failing to befriend the cats.

    The grasshopper dies of a drug overdose. Campbell Live and Media Works blame it on the obvious failure of government to address the root causes of despair arising from social inequity and his traumatic experience of prison. They call for the resignation of a government minister.

    The cats are paid a million pounds each because their rights were infringed when the government failed to inform them there were mice in NZ. A Tribunal is setup to look at historical discrimination against cats.

    The rat and the victims of the hijacking, the bombing, the burglaries and robberies have to pay additional taxes are increased to pay for law and order, and they are told that they will have to work beyond 70 because of a “shortfall” in government funds.

    • Agent BallSack

      Awesome!

    • Magor

      WOW – an oldie with a modern twist – priceless!!

    • Gazzaw

      Brilliant stuff Spolly. Very inventive – be careful, Len might approach you to join his spin team.

    • Gazzaw

      Brilliant stuff Spolly. Very inventive – be careful, Len will be approaching you to join his spin team.

    • grumpy

      Hilarious…..but then I started thinking…..

    • Whanga_Cynic

      Spolly – fabulous, but you really need to get out more.

    • Michael

      Best Comment Ever!

    • Steve (North Shore)

      spollyike, get yourself a beer, my shout

    • unsol

      Nicely done Spolly – good use of an old fable..,,goes to show personal responsibility has always been lacking where some people are concerned!

      And a wicked way to procrastinate on those studies!!! ;)

    • Muffin

      Fantastic, can you make it shorter with single syllables so that retard AHL and his equally retarded mate chad can understand it?

    • Hazards001

      I see you had a busy day at home? Nursery rhyme day was it?

  • Grizz30

    It disturbs me that politicians have issues with overseas investors having a small shareholding in a New Zealand asset. I am one of those 101,000 retail investors of MRP. I only own a small amount as it is part of a diversified portfolio. Equally so, I have a number of overseas shares, where I bring profit back into NZ. You will never here the same politicians complaining about that! What the Greens need to do is encourage people to be shareholders. From my point of view, it is better to invest in business than houses. If the nation did this as a collective whole, it would help generate more economic growth. Overseas investment would provide us with income in excess of what our nation can generate and it would take pressure off prices in the low end of the housing market. This sort of forward thinking is lacking down in Green Party land. I think Norman is trying to rally up support for his petition to get the critical numbers it requires to force a referendum.

    With the kiwisaver scheme there is some momentum building to turn NZ into an investor nation, but it is slow and probably needs a generations worth of contributions to create the critical mass to reverse the balance of investment. However you only need to look to Australia and see their $1.4trillion of super investments, much of this overseas. If there was that level of investment here by mum and dad investors, Russel Normans concerns would look rather pedantic. On the other hand, the Cullen fund is now $22 billion in value. on $4 billion is invested in the NZ sharemarket. It is making its money from overseas investments, much more than the electricity assets will send overseas in aftertax profits.

  • Gazzaw

    You can’t blame Russel Norman for trying to polish the turd that is the Green’s misinformation campaign against the IPO of Mighty River Power. What does piss me off is the Horrid’s unquestioning acceptance of the green’s media release.

  • BJ

    How could the MSM think its at all ok to publish and therefore actively promote such utter dishonesty from Russell Norman when that is clearly the case.

  • Patrick

    Looks like we better get more SOEs on sale – can’t have the average punter missing out can we?

  • Whafe

    This sort of diatribe & BS being spewed by R Norman should be condemmed and kept in the attention of the media until something is done about it. Add it to the economic treason that Liabour + Greens did when the MRP float was announced etc. It cost NZ hundreds of millions…
    The media has completely forgotten about it…. A bit less time by that socialist creep Campbell fondling grasshoppers and more investigative journalism into the economic treason committed by Liabour + Greens

  • ALH84001

    You forget a couple of facts Mr Whaleoil. Most NZers didn’t want our SOEs sold in the first place. Consider that for a bit. Then have another pie.

    • onelaw4all

      Most NZers don’t want our excessive State spending levels.

      Consider that for a bit.

      Then pass the spliff.

    • Whafe

      The vast majority wanted the partial sale to go ahead, why do you types call it selling of the assets, it was a partial sale…
      National made it clear prior to the last election that is was going to do a partial asset float. That is the mandate… Get your facts right

    • blokeintakapuna

      New trolls very rarely get more than 1 free cheap shot. Be advised…
      Trolls are very welcome though – but you need to contribute to the discussion at hand…
      Just sayin’

    • rockape

      The only survey that support your assertion was a survey of about 1000 people. I preffered the big survey, you know , the one called aGeneral election were we all got a right to comment. Labour and the greens made this their main election issue. Result, National won Labour got a very low poll. SO YOUR COMMENT ABOVE IS BALLOCKS.

    • mike

      I’m sure National campaigned on that very issue… and then got elected. That’s called a mandate.

    • sheppy

      Is that why so many DIDN’T SIGN the petition? Or perhaps the paid for with taxpayers money signature team couldn’t find them as they were at work

    • BJ

      I think you meant some.

    • ALH84001, who told you that?
      Never sold the Govt have 51% NZers have 86% holding shares of the 49% offered for sale,so what was sold F^%% all, New Zealanders still own it, but then again my maths may be a bit bad do you think, you may be able to give me the true figure????

      • Gazzaw

        You won’t hear from ALH Colin – check his post above. We use far too common language here for his delicate ears and what’s more there’s no substance to our debate.

    • Bunswalla

      About your “couple of facts” – first of all, there’s only one. Can’t fucking count, dropkick?

      Second of all, our SOEs aren’t being sold, moron. There’s a key word in there “partial” – you see, we still own 51% of MRP and will continue to do so. The same with other assets this government is going to partially sell.

      Third of all – sorry for dragging this out but you’re clearly a complete idiot so I have to spell it out step by step – this government has a MANDATE to proceed with it’s partial asset sales. It campaigned honestly and openly on this exact point and whaddyaknow? They’re in power now. I guess that’s because the majority of NZers DID want the assets partially sold in the first place.

      Your move.

    • williamabong

      Wow, two hats a troll and a wanker, must be terrible owning two personalities.

    • Ronnie Chow

      ‘Ours’ ? Explain your de-facto ownership model , where just being born gives you the right to claim thin air as an asset .

    • In Vino Veritas

      Funnily enough, ALH, most NZers didnt give a rats arse. After all, Labour and the Greens (using taxpayers money) couldnt even get enough signatures (300K) for a referendum. Given that there were 3,070,847 registered voters in the 2011 election, that pretty much spells it out, and makes a complete mockery of your claim. Consider that for a bit. Then have another piece of tofu and a vegetarian sausage.

  • chwaga

    Wow….my five grand children must be 5 of the “mum and dad” investors.

  • onelaw4all

    Company shareholders aren’t individuals! Never fear, the Greens will exterminate them all, and the stinking companies they rode in on!

  • unitedtribes

    I read this article and as it quoted the numbers I are thinking that well this is what I would have expected what is the story here. When I read the comments it is noticeable that the majority who comment are from the extreme left. If this is the market the Herald is catering for it is no wonder so many readers have voted with their feet. I only wrap my kumeras with it now

    • spollyike

      Yeah, i know what you mean. I filled in an online survey of their last week and said the same thing. Basically you’ve gone so far left you can’t get back and have thus isolated the majority of your readership and are (judging by your articles and editorials) constantly trying to make them feel bad. Way to shoot yourself in the head Herald.

      • CJA

        Kind of hard to make people feel bad Spolly when no one reads it or takes much notice of it. They’ll get their dues when the whole paper goes bust.

    • Whafe

      Kumera’s deserve better than to be wrapped in the NZ Horrid… Think of it from the poor kumera’s point of view….

  • We will see an increase of share buyers with the next issue, many missed out because of bullshit NORMAL NORMAN and NOSY SHEARER where spinning, also people who had the wrong bank account number at the end 00 or 50.
    I am wishing that Normal Norman has to eat his on Sh&&&t after the next issue, do they really think the voters are dummies, trying to spin this crap????

    • IWantToBeLikeMallardOneDay

      Do you really think the voters are dummies? Yes. A lot of them are. We need to start running Mr Bean, Friends and Desperate Housewives omnibuses on election day.

  • rockape

    With all parties saying they support more investment in jobs and industry where do the Greens and Labour get off in doing their best to saboutage investment in jobs and industry. I for one am delighted if foreigners invest in NZ Its more money(not our own) supporting jobs in NZ

  • rockape

    I was going to invest, not put off by the greens or Labour though, just decided that Meridian was bigger and probably a better bet. I have a nice little wadge from my kiwisaver just looking for a new home!

  • Dave Broad

    The smart money left them alone. Hence the lousy demand post float.

  • ThievingBastards

    #Heyclint, GIMME MY FLAG BACK!!! It will be good for Mardi!

    • Travis Poulson

      I see what you did there.

  • Rimutaka

    The only deceit and lies I could find is the orginal articles submission “Those numbers are demonstrably false and they know it”

    Come on Cameron demonstrate it, you haven’t, spell it out lad, I know emotive language riles up the dull righties but get beyond the bs and back up your claims.

  • Rimutaka

    I would like to thank Whaleoil for bring to our attention the BS conjob that prime minister John key tried slipping past us that Mum and Dad investors would buy MRP.

    As Russel Norman has correctly pointed out Mum and Dad Investors own less of MRP than overseas investors. So hands up all the idiots who believed John Key’s lies.

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