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  1. Phil C, 2. October 2015, 3:47

    A salutary reminder of why a small, isolated and vulnerable country should not hand over essential assets to be run by distant foreign interests.

    I well remember Ms Wilde’s specious assertion that the local power co was only returning a few millions dollars a year. The next chump in power, Blumsky, was one of those dreadful “privatise it all” nut jobs that NZ produces so many of. Wellingtonians are now paying the price.

    I can’t figure out if mind-set behind the free market mania in NZ was one of servile stupidity, gross naivete or villainy. Perhaps all three.

  2. syrahnose, 2. October 2015, 5:02

    Oh no, its not the dreaded ‘Yellow Peril’ again, and a Chinese billionaire! This is flat out pandering to Kiwi racism. What difference does it make who operates it if it isn’t the city council OR how much money they make or where they live. They bought and took the risk hoping it might make their investment back. Was it better when it was whiter than white Canadians and then Yanks who owned it.

  3. greywarbler, 2. October 2015, 15:20

    Oh no it’s a Chinese puzzle! I’m angry that the dreaded overseas or local private investment economic model difference is being confused again. This is flat out pandering to Kiwi fascism.

    Who operates the rubbish and the electricity matters. When privately owned, the price must rise to cover shareholders’ return and the constant costs stacked up by constant selling to new entities while the old ones take out whatever the market will stand when they sell. It is very inefficient, with costs added but only covered by price rises, reductions in staff or service, and delayed maintenance and investment.

    An investor 17th in world wealth now owns it, but it is a ball being tossed from one wealthy entity to another. In 2001 Envirowaste-Fulton Hogan, 2007 Fulton-Hogan to USA Ironbridge, 2013 Ironbridge-PC name. So 2019 to whom?

    And each time sold for an increased price much above inflation? Wouldn’t it be better to hold our own services to be run at cost plus inflation plus say 3% p.a. and that would provide for upkeep and needed future investment.

  4. Phil C, 6. October 2015, 3:04

    Syrahnose. It doesn’t matter what colour your capitalist is. Wonderful system-doesn’t care about people at all.