Forum Archive Index - December 2002

[ichi@ihug.co.nz]

tennyson@caverock.net.nz wrote:
> 
> The goverment was the lender of last resort.

That's a novel idea.  The directors of a *private* company 
can make bloody-stupid decisions, run the company into the 
ground, and then expect the guvmint to bail them out.  

> The government rescuing Air New Zealand was not a matter 
> of principle as you imply.  Given they had decided 

Decided?  On what basis?  

> we needed a New Zealand controlled airline

Is that just mindless nationalism, or is there some tangible
benefit from being New Zealand controlled (whatever that 
means).

> it was the only option.

Actually, there were lots of options.  Unfortunately the
best options were wrecked by government interference and
dithering.



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