TOP QUOTE: “The problem with socialism is that sooner or later you run out of other people’s money.”
Good point so I've tried but not found any explanation yet.
So far as I can tell, POA is owned by an Auckland Council subsidiary company, Auckland Council Investments Ltd. Many local authorities hold their operating businesses in subsidiary companies - it helps to keep them separate from day to day council responsibilities.
Fine. However the directors of the investment arm should be appointed by the council and can be instructed by the council as to what they must do. The classic example is the Auckland Council requirement that POA return 12% in the future. If the council was really powerless that requirement could not be made.
Ok, Len Brown as mayor can't do this himself - I get that. Nevertheless the Ak council could pass a resolution as 100% shareholder to solve the problem - or at least have an open debate.
Happy to be corrected.
To my surprise the balance of money and talent is more even between POA and the Union than I thought.
"This is an alliance of trade unions, a corporate finance consultancy, a logistics company and a city business association. There are probably not many things all four could agree on, but the future of the port appears to have galvanised them into togetherness.
Heart of the City employed public relations firm Pead PR last month to rark up fears of massive encroachment on the harbour by a giant port parking lot.
This was followed last week by its participation in a new ginger group headed by consultancy Grant Samuel.
The Council of Trade Unions has also joined the ginger group, focusing on its support for the Maritime Union in its battle with the port over working conditions.
All of them are calling on the port's owner Auckland City Council to abandon its focus on maximising profit from the asset and instead think about the wider impact on the city of the port's operation."
http://www.stuff.co.nz/business/blog...the-waterfront
That's a lot of clever influential people who normally wouldn't be in the same room. And yet, my perusal of newspapers, TV news, National Radio, and blogs hasn't revealed strong arguments from the Maritime Union. They just continue to say they won't agree to new work conditions when those conditions already exist at other ports.
Tell me about it. I'm fitter/turner. Aside from machining just about everything under the sun, I braze, solder, heights trained, first aid, deal direct with customers, price some jobs, site maintenance, operate hiabs etc. Basically unless it's heavy fab/boiler work, I can build it or fix it. $21/hr...
Good God man, I should be doing something really important like riding my motorbike but here I am doing this.
But seriously, Len Brown can't take sides and must only do what's right for Aucklanders in this dispute under the legislation for a CCO. It's the same concept as John Key not being able to run an SOE as far as I can tell.
As far as the 12% target goes, it's not a Return on Investment, Return On Assets or Dividend Return but a Return On Equity. It was given the ok by Council based on advice by POA and ACIL and not set by Council.
$56k per year (27 X 40 X 52) is not that startling, and not that much above the NZ average of $47K9 http://www2.careers.govt.nz/jobs-dat...ho-earns-what/
it's not a bad thing till you throw a KLR into the mix.
those cheap ass bitches can do anything with ductape.
(PostalDave on ADVrider)
Do you realise how many holes there could be if people would just take the time to take the dirt out of them?
Yep. Gone are the bad old days when the lend you money you could never pay back (in 35 years).
Mate just got a $400K loan and he contracts out atleast 20 hours a week. So I am guessing he is getting paid more than you.
So in your case "the numbers don't add up". The debt outways your income and they need more hours (or $) on the clock.
They would have assumed that your not likely to get a pay increase in the next 2 years, but can't make the assumption that intrest rates will remain the same with the euro crisis happening.
Which is kind of understandable when you think about what happend in 2008/09.
But feel free to slag the banks some more for using common sense. Banks don't give a fuck what your occupation is, so long as you have the $ to pay the bills.
Reactor Online. Sensors Online. Weapons Online. All Systems Nominal.
Not so.
Everybody who earns has their income added to all the others and then divided by the number of incomes. That gives the average, and there are more than enough with incomes in the millions to drag the average up to an unrealistic level. The median income would tell an entirely different story.
Do you realise how many holes there could be if people would just take the time to take the dirt out of them?
Thats correct John..the average wage/salary projected, is from ''snotty Richard scanning your frozens at the checkout'' through to ''here, let me take the rest of what you have left' Mr Lawyer.
What does the CEO of Telecom 'earn' ?
$5M+, is it not. His income is not unusual at that level.
That takes care of 106 people at the so-called 'average' income.
Do you realise how many holes there could be if people would just take the time to take the dirt out of them?
I didn't think!!! I experimented!!!
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