Stuart Nash on the Boagan’s plans to nick the AECT trust

Stuart Nash has written a piece on Michelle Boag’s plans to nick the AECT funds to gift to Len Brown for his train set.

It is on a little read hate speech blog run by Wrongly Wrongson, the blogger formerly known as Martyn Martin Bradbury, and so deserves wider attention.

Move forward to 2014, and John Collinge is at it once again.  Collinge, backed by another former National party president Michelle Boag, and helped by Auckland EMA CEO Kim Campbell, is trying to gather support for a scheme that would steal the shares off the people of Auckland for good.

Their miserable plan, as I have been led to believe, involves pressuring the National government to introduce legislation that would allow the shares, worth around $2.1b, to be nationalised, and then gifted back to the Auckland City Council for them to sell – to the people of Auckland and overseas buyers.

Let’s put this into perspective.  This year the AECT returned a $335 dividend to all shareholders (75.1% of whom are the people of Auckland). This is a most welcome bonus to many who are currently struggling with the extremely high costs of living in Auckland.

Vector is an incredibly progressive and innovative company and so this dividend is only going to grow.  Why sell it?  This is about ideology – and a massive disconnect by some wealthy individuals who simply have absolutely no idea at all how important $335 is to a huge number of Auckland families. 

I think we have highlighted this potential issue in time so that Collinge, Boag, Campbell and co just look misery and miserable, but the fact that National Energy Minister Simon Bridges refused to comment on the matter suggests that it might have had some legs if the nasties had been a little smarter in their strategic execution; the fact that the right has handled this so ineptly is a blessing for all Aucklanders, but expect this type of behaviour to continue as the Nats seek to get their hands on high performing, publicly owned assets.

Keeping Vector in the hands of good hardworking Aucklanders is very definitely something worth fighting for.  I will keep you updated if I hear anything more.

Nash though is somewhat wonky in his thoughts, blaming the National party for this attempted heist…it isn’t the National party, rather it is the old boys network making their last hurrah.

He clearly hasn’t kept up with his own party’s rhetoric…which is the nasty Nats like selling assets and once they are gone they are gone forever (remember that campaign Stu? The one that left you on the bench)…in this case he is now claiming that the Nats are wanting to get their hands on high performing publicly owned assets?

Talk about a disconnect.

In reality, after the plans and campaign were busted wide open on this blog it is just three trying to aid Len Brown in the biggest corporate heist in New Zealand history.

The deluded (Collinge), the nasty (Boag) and the bewildered (Campbell).


– The Daily Blog


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  • LabTested

    …as the Nats seek to get their hands on high performing, publicly owned assets

    Well that didn’t take long – It’s all John Keys fault.

    • Wallace Westland

      Looks like Nash is now getting policy from WOBH? And even then he can’t
      read the whole thing properly to get a complete handle on who is doing
      what and to whom. Seems the lefties leopards never change their spots,
      always getting someone else to to the work.
      Bet he blames WO for his errors!

  • Pluto

    Not that anybody will do the honourable thing and acknowledge you as the one to shed the sunlight Cam, nevertheless it’s starting to smell like a very dead rat in the water.
    Probably a bit soon for congrats, but well done to WOBH for a great piece of investigative journalism, executed to perfection.

  • Brian of Mt Wellington

    It’s not theirs to sell just like the motorways in Auckland are not the council’s to toll

  • Michael_l_c

    How much was bogan, collie etc planning to pay themselves? We can be certain this scheme would have become a money train, but only for a few of the ‘elite’, not you are me.

    • caochladh

      A bit like the Chamber financial accounts perhaps, where detail is sadly lacking in the salaries reporting aspect. Makes you wonder what they have to hide from the membership?

    • Aucky

      Such cynicism Michael. I’m sure that they have been working on this grand scheme purely for the betterment of the people of Auckland and any thought of lining their pockets never entered their minds.

  • dgrogan

    So what do the AECT Trustees have to say? Has anyone bothered to ask?

    There’s no way ACC could get its hands on the AECT assets or dividends unless the Trustees agree unanimously for this to happen. And even then, according to the Trust Deed, they cannot do this unless, “it has become impracticable or impossible to perform the trust of income”.

  • Luis Cannon

    Nash is little more than a coat-tailer. He would be better employed getting some original thought into the Labour party. The end game for Browns stooges is to corral funds for infrastructure projects that will profit them and associates. Since Brown is a two faced product of the left. Nash might like to do everybody a favor by leading a campaign to get of this useless TWIRP.

    • Aucky

      The biggest favour labour could do for itself would be to totally and publicly disassociate itself from Len Brown. All the better if he’s a member – just expel him.

  • Wallace Westland

    QUICK….form a committee!

    • kayaker

      And report back in two years.