Forum Archive Index - June 2003

[Marilyn Munroe <who.c@res.co.nz>]

QUOTE
All the while, the Minister spent his time locked in discussions with the 
Directors of Tranzrail nutting out a deal that would allow a failed board and 
a failed management team be locked into a monopoly position for the next 64 
years.

Well, the good news for New Zealand, and the bad news for the Minister, is 
that New Zealand financial institutions who control well over two thirds of 
the company have more business acumen than his Government.

They will accept Tolls cash offer , and what's more they will even do it in 
the next 6 weeks, well before the government gets a chance to put its deal to 
the vote.

And why wouldn't they?

The Government deal is so vague institutions don't have any clue what return 
they can expect from a future Tranzrail. All they do know is they will be 
stuck with decades of a failed management team and a cap on their return 
which is likely to see the kinds of wastage and inefficiency that was a hall 
mark of New Zealand rail prior to de-regulation once again return.

So of course they will sell, and they are so angry they have written to the 
failed Directors of Tranzrail and told them so.
END QUOTE 

I found the above commentary on the web site of John Key the National 
spokesperson on transport.

Is he grinding a political axe or does he know something?

Boop-boop-de-do Marilyn

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