Business News

Ponzi investor must repay fictitious profits – Supreme Court ruling

BusinessDesk report by Jonathan Underhill
Former Ross Asset Management investor Hamish McIntosh can keep the $500,000 he invested with the failed Ross Asset Management but must return the fictitious profits, the Supreme Court has ruled in a majority decision. Read more »

Banks Shoes in receivership

Press Release – PricewaterhouseCoopers
Banks Group Limited (In Receivership) trading as Shoe Connection, SNKR, Banks Shoes and Plimmer Shoes
On 26 May 2017 John Fisk and David Bridgman, Partners from PwC, were appointed receivers to Banks Group Limited which trades as Shoe Connection, SNKR, Banks Shoes and Plimmer Shoes. Read more »

PSA wants to stop sale of pensioner housing in Levin and Foxton

News from PSA
Pensioner housing in Horowhenua must not be sold without a proper process – and a proposed deal should be stopped, the PSA says. Read more »

300 Wellington bus drivers meet, and refuse to accept deal for lower pay

News from Wellington Tramways Union
Hundreds of bus drivers met in Wellington today to decide how they’re going to fight back against a Regional Council decision that threatens to slash their pay. Read more »

$98m to replace wooden traction poles on Metro Line train network

News from Wellington Regional Council
Nearly $100 million has been allocated to Greater Wellington Regional Council and KiwiRail to replace 1274 wooden traction poles which, without replacement, would lead to significant service disruption on Wellington’s Metro Line Network.
Read more »

Chris Whelan resigns from WREDA, “a disappointment,” says CofC

Press Release – Wellington Chamber Of Commerce
The resignation of WREDA Chief Executive Chris Whelan will be a disappointment to those who had pinned high hopes for the region on him and the new organisation, says Wellington Chamber of Commerce Chief Executive John Milford. Read more »

RNZ getting extra $2.5m a year “but it doesn’t go far enough”

News from Action Station
Today’s budget announcement of an extra $2.85m per year for Radio New Zealand has been welcomed by public media campaigners ActionStation who delivered a petition alongside the Coalition for Better Broadcasting and citizen campaigner Jo Bond to unfreeze the public radio station’s funding earlier this year.

“After eight years of frozen funding, our community of public media defenders are grateful to see a boost. However it doesn’t go far enough.” says ActionStation Campaign Director Laura O’Connell Rapira.

RNZ’s $35 million budget hasn’t changed much since 2007 when a KPMG report found the state-owned broadcaster was underfunded by $6m to $7m.

Dr Peter Thompson, senior lecturer in media studies at Victoria University, recently calculated that if inflation were included it would mean RNZ is now underfunded by $14m a year.

“Quality independent journalism is crucial for our democracy and RNZ demonstrates their value every single day. When you compare this boost to the $60 million per year the Government has committed to attracting Hollywood Producers, it does make you wonder about priorities.” says Ms O’Connell Rapira.

RNZ will receive an additional $11.4 million of operating funding over the next four years to allow for investment in new modern technology and improved capability.

“Like many New Zealanders, I was acutely aware of the importance of RNZ during the 2016 earthquakes. In times of pressure and emergency we look to certain organisations to help us through – RNZ is one of those organisations.’’ says National Party MP Maggie Barry.

The funding increase follows half a year of campaigning which concluded in April when a 32,337 strong joint petition, between ActionStation, the Coalition for Better Broadcasting and RNZ campaigner Jo Bond, was presented to Parliament in a giant block of ice calling for RNZ’s funding to be unfrozen.

$450m more for KiwiRail shows recognition of productivity and efficiency

Press Release – KiwiRail
The Government’s two year commitment of $450 million in capital funding announced today will ensure the reliability initiatives of the past two years continue to drive productivity and commercial outcomes for KiwiRail and its customers, Chairman Trevor Janes says. Read more »

Where are we really moving? Public meeting to discuss concerns

A public meeting is to be held tonight to discuss concerns about the plans being indicated by the Let’s Get Wellington Moving process. Read more »

Keeping the buses on time

by Kerry Wood
The Regional Council recently claimed that its buses run 99.9% on time, but only 99.7% run at all. There was nothing to define ‘on-time’, but it seems to be starting, or maybe completing, a run within ten minutes of scheduled time (or both?). The figures suggest that ‘on-time’ includes ‘early’. Read more »

Crowdfunding campaign seeking $88,000 to reactivate Radio Active

Press Release – Radio Active
40-year-old Wellington alternative radio station Radio Active 88.6FM has been given a new lease of life with the formation of a charitable trust to rescue it from imminent closure. Read more »

$12m for new sport and community building in Fraser Park

Press Release – Hutt City Council
The green light has been given to the construction of a $12 million sport and community facility at Lower Hutt’s Fraser Park. Read more »

Hutt City Council to pay living wage only if it is cost effective

Press Release – Hutt City Council
The Hutt City Council has adopted a new Remuneration and Employment Policy reflecting its commitment to paying the living wage while meeting its legal obligations under the Local Government Act 2002 (the Act). Read more »

PSA disappointed at ACC plan to close call centres

Press Release – Public Service Association
PSA members are surprised and disappointed at the Accident Compensation Corporation’s proposals to close two call centres in Wellington and Auckland. Read more »

A delay that hasn’t been announced

by Lindsay Shelton
It was strange yesterday to read opinions from the Chamber of Commerce about a Let’s Get Welly Moving decision that hasn’t been announced. Read more »

250 Johnsonville people express concern about their mall

Press Release from Greg O’Connor
“The fact that 250 people turned out on a cold winter’s night to express their concern about the lack of development on the Johnsonville Mall is evidence of the depth of feeling on the matter in the northern suburbs,” says Labour Ōhāriu candidate Greg O’Connor. Read more »

Business Awards welcomes two new board members

Press Release – Business Kapiti Horowhenua Inc
Business Kapiti Horowhenua (‘BKH’), the organisation responsible for organising and running the Electra Kapiti Horowhenua Business Awards, welcomed two new members to the Board at its recent AGM. Read more »

“Patience wearing thin;” transport plan delays must be worth the wait, says CofC

Press Release – Wellington Chamber Of Commerce
The latest delay in the publication of scenarios to solve Wellington’s transport problems is acceptable if it leads to a lasting solution, says Wellington Chamber of Commerce Chief Executive John Milford. Read more »

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