In a nutshell

Friday 13th July 2001

Rankin's soap opera wraps

The case which has been the subject of the country's water-cooler chat for the past three weeks came to an end on Wednesday. Employment Court chief judge Tom Goddard finished hearing Christine Rankin's million-dollar legal dispute with the Crown and reserved his decision. Mrs Rankin, the chief executive of the Department of Work & Income for the past three years, has claimed unfair and unlawful treatment in a decision by the State Services Commissioner not to reappoint her. At the end of the case it was revealed Mrs Rankin's claim now totals almost $1.25 million, not the $818,000 reported at the commencement.

More Montana manoeuvres

Two regulators, three current complaints and still no resolution this week in the Montana takeover battle. Yesterday the Stock Exchange committee overseeing the takeover heard Allied Domecq's complaint that Lion Nathan was breaching conditions in the disposal of the 19% stake it has been ordered to sell by the Montana standing committee. Its decision is due Monday. Also on Monday another regulator, the New Zealand Takeovers Panel, will meet to decide whether Lion's two-pronged takeover offer breaches new, tougher takeover rules. And next Thursday the Stock Exchange committee will meet again to consider a further complaint, this time from Lion, over Allied's purchase of shares from Montana executive director Peter Masfen. Montana shares were changing hands at $4.53 yesterday afternoon.

Crunch time for apple growers

Apple growers went sour on Enza this week as they waited to find out whether they will be stung for the cost of the marketer's forex losses. Enza chairman Tony Gibbs, chief executive Michael Dosser and director Brian D'ath met with Agriculture Minister Jim Sutton on Tuesday, as part of the consultation in the scrap over who is going to cover the losses. Enza wants to deduct up to $4.50 per carton from growers' earnings to provide for $54 million forex losses - growers believe Enza's major shareholder Guinness Peat Group and FR Partners should cover it.

RMA worst red tape tangle

A panel looking at ways to cut red tape for businesses asked the government to fast-track changes to the headache-inducing Resource Management Act. The 11-member compliance costs panel handed over a report of its findings to Commerce Minister Paul Swain on Wednesday. Among its findings, the panel said dealing with the RMA appeared to be cumbersome, costly and complex.

Kiwis cool to climate change

A government-funded survey out this week shows New Zealanders have a healthy scepticism toward claims of global warming - known in polite circles as climate change. The survey was released just as Australia has backed the US on rejecting the Kyoto Protocol and Japan is dithering on which way it will go. Pete Hodgson, convener of the ministerial group on climate change, said New Zealand would not back away from the Kyoto Protocol and yesterday released a scientific report to back his case.

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