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90 seconds at 9am: Liddell off to GM; SCF CFO Brown resigns; Dubai World problems
December 22nd, 2009Bernard 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Meanwhile in Timaru, South Canterbury Finance Chief Financial Officer Graeme Brown has resigned and has been replaced by interim CFO David Jarmen, who was CFO at Provincial Finance.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.
Tags: 90 seconds at 9am, Bernard Hickey, Chris Liddell, David Jarmen, Dubai World, Graeme Brown, Nigel Gormack, South Canterbury Finance
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December 22nd, 2009 at 9:59 am
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-since-1984
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.”
December 22nd, 2009 at 10:10 am
“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…?
December 22nd, 2009 at 10:10 am
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.
December 22nd, 2009 at 5:26 pm
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Alena
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