“Oh the irony, it hurts!”, ctd

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You know, you can be part of the Labour Party for many years, push against asset sales many years, and be synonymous with strong opposition to asset sales, until you become the mayor, and then – suddenly – the economic realities make asset sales just fine.

The airport is booming, making a healthy profit from the 6 million passengers that use it every year.

Orion made a cool $50 million last year, while the Lyttelton Port Company is another multimillion-dollar earner. But the cash-strapped Christchurch City may have to do a partial sell-down of them to pay for the city’s rebuild.

“There’s two that stand out – Christchurch Airport and Orion, the lines company,” says Milford Asset Management’s Brian Gaynor. “Orion is more profitable and bigger in terms of its financial side, but Christchurch Airport would be attractive as well.”

Facing a $900 million shortfall because of the rebuild and anchor projects, the plan will be discussed in a part of a special council meeting which ratepayers are banned from.

Former Labour MP and current Christchurch Mayor Lianne Dalziel opposed the Government’s power company asset sales while in Parliament. But she has ruled out borrowing more and the council does not want a rates increase.

The council’s own agenda for tomorrow gives a clue on their thinking. It talks about conversations with potential business partners, and that could be other more cashed-up local councils or the powerful Maori business Ngāi Tahu Holdings.

And, most importantly, they don’t want any transparency

Ratepayers are barred from attending a crucial part of a sensitive meeting on the future of some of Canterbury’s key assets.

To be done in secrecy.  Sensitive indeed.

Oh the hypocrisy.  Where are the petitions?  Why aren’t Labour and the Greens up in arms about asset sales in Christchurch?

– 3 News


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

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