Bernard Hickey details the key news overnight in 90 seconds at 9am, including news that New Zealander Chris Liddell has been appointed chief financial officer at General Motors. He was CFO at Microsoft and has been Carter Holt Harvey CEO. Meanwhile in Timaru, South Canterbury Finance Chief Financial Officer Graeme Brown has resigned and has been replaced by interim CFO David Jarmen, who was CFO at Provincial Finance. South Canterbury Finance now has an interim CEO and an interim CFO while it tries to recapitalise. It is still trying to raise capital through a private placement and a potential float on the stock market. Meanwhile Dubai World has met with investors to discuss a standstill on US$22 bln of debt. It is also rumoured to be backing dairy farm purchases in Southland.

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4 Comments

by Sam Smith | 22 Dec 09, 8:59am

When we go into a

When we go into a shop and buy an item, we know exactly what we are buying.

When we pay tax, it is a little like gambling we never know what we will get. Here's what we got in the draw this week:
http://www.stuff.co.nz/national/politics/3184336/Couple-on-benefits-sinc...

Some quotes:

"They have four children, three of whom are also drawing benefits."

"Recent efforts to cancel Darryl Harris' sickness benefit failed after he obtained a medical opinion stating he was addicted to cannabis."

""¦Since then the family has been transferred to a special "remote monitoring" unit. The unit deals with Work and Income clients deemed too dangerous for face-to-face meetings with staff."

by Wally | 22 Dec 09, 9:10am

"Among the successful applications were

"Among the successful applications were grants to put new tyres on the couple's 2007 silver Chrysler saloon and to fence a swimming pool at one of several properties the family owns in Christchurch"...properties which must be generating income...so why are they still being paid benefits...?

by Nicholas Arrand | 22 Dec 09, 9:10am

Sure makes Gareth Morgan's 'one

Sure makes Gareth Morgan's 'one off yearly payment to each adult' suggestion make sense, Sam Smith! No need for remote monitoring in that situation. My wife has friends who have come across the Harris family- a particulaly nasty and dangerous bunch of individuals, I'm told.

by Alena | 22 Dec 09, 4:26pm

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I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Alena

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