Forum Archive Index - September 2001

[<nickkearney@xtra.co.nz>]

Ben

Actually I would like to add a little more.

Where has PAul Swain been during all this?  He is the Minister of Commerce yet 
he hasn't said boo.  What about Transport Minister Mark Gosche?  What does he 
have to say?

The Prime Minister has delegates, in the above two people, who should be 
dealing with this.  If not them, then at worst Michael Cullen.  IMO she has too 
much to say on everything and deserves the title of Minister of Everything.

She is a control freak and almost dictatorial in nature.  She either has no 
confidence in her ministers or believes she knows it all.  I agree with your 
comments.    

That's enough from me.

Cheers  
> 
> From: "Ben Dutton" <bendutton@sharechat.co.nz>
> Date: Wed, 26 Sep 2001 10:02:03 +1000
> To: <sharechat@sharechat.co.nz>
> Subject: [sharechat] Air New Zealand shares finally suspended
> 
> I am flabbergasted.
> 
> If media reports are correct, on Monday, New Zealand's prime minister Helen
> Clark raised the possibility of statutory management for Air New Zealand.
> The shares fell 40% as investors stampeded for the exit, fearing the worst.
> 
> Then yesterday Helen Clark recommended investors "hang on" to their shares,
> as she is "absolutely convinced that Air New Zealand has a viable future".
> 
> The shares rose by 50% as investors stampeded in.
> 
> Now, the Market Surveillance Panel has *finally* halted trading of Air New
> Zealand's shares, pending "clarification from the company regarding the
> Prime Minister's statements appearing in today's media that shareholders
> "Don't sell" their Air New Zealand shares."
> 
> These comments from our Prime Minister are disturbing.  That she would
> openly talk to the media on such a sensitive matter is unbelievable.  To me,
> this demonstrates her naivety with regards to the sharemarket and business.
> These announcements should a) have not been made at all or b) have been made
> through the appropriate channels - eg. through the exchange.
> 
> I wonder if she will apologise to all of the investors (many of whom where
> overseas holders of the "B" shares) who sold their shares on Monday
> expecting the worst.  I wonder if the overseas investors will ever look
> seriously at NZ as an investment option again, knowing that NZ's very own
> Prime Minister likes to comment on the market, changing her tune from one
> day to the next.
> 
> This situation just seems to go from bad to worse.  Lets hope NZ as a
> country is able to emerge from this scandal with at least some of its
> reputation intact.
> 
> All comments welcome.
> 
> Best Regards
> 
> Ben Dutton
> 
> 
> 
> 
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