Christchurch council assets in dispute

[mashman]

"Business leaders want Christchurch City Council to sell assets to help fund the rebuilding of the earthquake-damaged city but the New Zealand Council of Trade Unions says the assets are more important than ever." (http://nz.news.yahoo.com/a/-/top-stories/13613046/christchurch-council-assets-in-dispute/)...

Where's the insurance money that we've all been paying for over the last 10/20/30 years? I guess we're still waiting for the payout?

[Asher]

Better than the rates hike that will only further fuck over everyone, especially those with property in the red and white zones

[ellipsis]

Better than the rates hike that will only further fuck over everyone, especially those with property in the red and white zones



...can you qualify 'better', please...

[FJRider]

Better than the rates hike that will only further fuck over everyone, especially those with property in the red and white zones

There may be some difficulty getting insurance to cover those "assets" that have already been damaged and repaired (under insurance) ... and will for some time.

Interesting the unions getting involved. Especially when the port is one asset mentioned ... after recent events in Auckland regarding the port ...

A sale of the port to a private company ... :shifty:

[Brian d marge]

mmmm big assets

Stephen

[unstuck]

mmmm big assets

Stephen

I would be holding onto those assets.:woohoo:

[mashman]

Better than the rates hike that will only further fuck over everyone, especially those with property in the red and white zones

I reckon your rates hike is to go towards the new Science building they announced a few months ago. The one that offered businesses 5 years free rent, or perhaps to cover the losses incurred by giving financial breaks to the people of Chch. I'm not saying the people don't need it, not by any stretch of the imagination, but selling assets off to pay for the rebuild where everyone has already paid their EQC levies, specifically for that purpose? Aren't the insurers paying out or something? Is there a problem with getting the rebuild started with the EQC payout? EVERYONE in the country is having to pay higher rates to cover the shortfalls of their councils. It isn't a Chch only "policy". And you talk about fucking everyone over because they have to pay higher rates? :facepalm: Sounds more like a double arse dip to me.

[mashman]

mmmm big assets

Stephen

noms... but this farce already has too many tits to choose from so the value of them assets must be drastically reduced. We're gonna need bigger tits.

[unstuck]

Are these ones big enough?:blink:

[mashman]

Are these ones big enough?:blink:

er, er, er, er, er, er, er

[Bassmatt]

Better than the rates hike that will only further fuck over everyone, especially those with property in the red and white zones

Rates will have to go up to cover the loss of income from the sold assets.
If they sell water etc the prices of those "services" will also go up.
No-win here.

[5150]

I would be holding onto those assets.:woohoo:

Partial asset sale. Is that what John Key is going on about? :confused:

[Asher]

So it's fair the council are increasing the rates for those properties that they have stopped people from living in?
I'm not surprised they are looking at selling assets, alot of their insurance policies finished just after the quakes and they probably can't get re-insured

[mashman]

So it's fair the council are increasing the rates for those properties that they have stopped people from living in?
I'm not surprised they are looking at selling assets, alot of their insurance policies finished just after the quakes and they probably can't get re-insured

No it's not "fair" at all, but the loss has to be covered somehow. I don't see the sense in selling the assets... unless of course when you buy the asset you also get the insurance cover that went with it. They want to increase the rates to help cover the rebuild and according to Smiley Smiley and his fat chum, the rebuild will take 10+ years etc... so I wonder why we need to rush to financially penalise the people of Chch (rate hike) or indeed put the Council under more financial stress by selling assets where there should be a large chunk of cash floating around from the Insurance payout. Where is the insurance money?

As far as rates goes, you should be happy that you're not in Kaipara (http://nz.news.yahoo.com/a/-/top-stories/13553811/angry-residents-refuse-to-pay-rates/). Tis the usual smoke and mirrors

[HenryDorsetCase]

There may be some difficulty getting insurance to cover those "assets" that have already been damaged and repaired (under insurance) ... and will for some time.

Interesting the unions getting involved. Especially when the port is one asset mentioned ... after recent events in Auckland regarding the port ...

A sale of the port to a private company ... :shifty:

my understanding is that the councils insurance cover is topped at at around 40% of the cost of repair of the damage. What I find, shall we say, irksome, about that is that useless cunt Tony Marryatt was/is a director of the insurance company or brokerage that CCC changed its insurance cover to. Something smells really bad about that to me.

So, 60% of the damage is going to be repaired (where it will be repaired) by the citizens either of the town (CCC rates) or the country (taxpayers of NZ). Anyone who doesnt understand what a massive task that is should come down and have a look. I'm not even talking about the CBD redzone: that should be fairly easy to fix: its compact and has good access. the hard bit is ALL THE REST OF IT IS FUCKED TOO. from basically Fitgerald Avenue east its yeah "same again thanks"

[HenryDorsetCase]

So it's fair the council are increasing the rates for those properties that they have stopped people from living in?
I'm not surprised they are looking at selling assets, alot of their insurance policies finished just after the quakes and they probably can't get re-insured

or if they can it is cost prohibitive. Commercial insurance has become mind bogglingly expensive. I could give you examples galore but here are two: rebuild cost of a $1M commercial building. used to be $5k/year. this year it is $15k with the xs now being 5% of the cost. Builders risk cover used to cost a client $7k/year, for any job, any value, anywhere in NZ. Now each job has a separate cover, and the premium for one (build cost $1.2M) is $11000. xs for that is 5% of damage. Some companies are excluding EQ cover from commercial. Great till you need to borrow money.

Its fucked up is what it is and I am sick of dealing with it.