Forum Archive Index - October 2001

["Nick Kearney" <nk@xtra.co.nz>]

Team

 

As for the buyer of AIA, who cares as long as the council sell them.  The money is wasted just sitting there collecting a dividend every so often.  Maybe Shanghi might buy the stake?  What about Infratil?  I also disagree with the comments about John Banks.  

 

Aucklanders don't get out of their cars.  That is a fact.  To counter that you either force them out (ie by excessive taxes which is undesirable) or accept the situation and try to solve the problem.  Mr Banks is a realist and accepts that we need more roads - not just now but for the future because this city is growing exponentially.

 

As for the rail, here is a simple analogy.  Picture this, you have a run down old car in your garage gathering rust and costing you a fortune to maintain and yet no one uses it.  It is costing you so much compared with the cost of keeping, that something has to be done to stop you going broke.  What do you do?  Sell it I hope.  That is what the Government did with the rail corridor and I applaud Mr Banks for not wanting to buy it back.  If that same car in your garage had not improved in condition in ten years, would you want to buy it back?  I hope not.

 

If you are an investor in transrail then that might be unlucky or unfortunate. The sharemarket is a risky business and is based on market principles.  Sometimes the market shafts you and you have to take the good with the bad.

 

Cheers

 

NK

 

----- Original Message -----

From: nick

To: sharechat@sharechat.co.nz

Sent: Saturday, October 27, 2001 1:24 PM

Subject: Re: [sharechat] AIA - Auckland City Council share

                  John Banks  is a worry on a number od fronts.

     As a transrail holder im not to happy that he may try to scupper

the sale of the auckland rail corridor.

    He is on tv complaining about young hoons racing round in cars,

at the same time he wants roads, roads and more roads at the

expense of other forms of transport.

     Nick

This week NBR story says that John Banks doesn't think that the Auckland City Council should own shares in airports. The money could be better utilised in building more motorways (as if there isn't enough traffic already)

 

Now the subject of the council shares in AIA is back in the public domain for discussion what do people think will happen to the AIA price.

 

Are there any logical buyers?

 

Cheers

 

Peter