Bernard Hickey details the key news over the weekend in 90 seconds at 9 am in association with Bank of New Zealand, including news the Daily Mail has reported that more than 70% of meat exported from New Zealand to Britain is killed using Halal methods and is not labelled as such.
The Daily Mail said Halal slaughter methods in the Middle East were not humane as animals were killed without being stunned first, raising animal welfare concerns. It also targeted the fact the meat was not labelled as Halal. Many commenters on the story said they would not buy New Zealand meat anymore.
But Beef and Lamb New Zealand has said New Zealand's halal slaughter methods do allow animals to be stunned first and they comply with animal welfare requirements. British meat consumers are particularly nervous in the wake of the Mad Cow disease scandal of mid 1990s. The Meat Industry association said it was unconcerned by the story.
Meanwhile, the new Real Estate Agents Authority is handling 693 complaints and complainants face delays of over 3 months, the NZ Herald reported.
Over 1,400 agents have chosen not to renew their licenses as the 40% fall in volumes in recent years hammers the sector. Also, a new license fee of NZ$555.75 has forced many to abandon the industry, the NZ Herald reported.
Also, the Sunday Star Times reported that South Canterbury Finance lent NZ$37.6 million to Neville Mahon for two Fiji apartment and hotel developments. It then quietly swapped the debt for equity in the projects at the end of 2008.
20 Comments
In a possible (likely) double dip recession scenario economic protectionism fabricated by other nations/ companies come in all forms and shapes. Precautionary measures need to be taken.
Be aware free trade and globalisation is coming to an end. Also because of in affordability, costs and increasingly environmental and political impacts, economies need to be wisely constructed into smaller units and more diversity. We need actions to become economically flexible and less depended - here in NZ especially in agriculture. Good valuable and sustainable international market places are increasingly found rather closer to home - "kiwipowerdown" - even to the good old days with more and bigger Farmer Markets offering a great and healthy variety of products.
Keep the clean shaved look. Far more trustworthy looking. You now look like someone I would consider taking financial advice from.
About time the realestate agents got a shake up, it's been the wild west up till now. Hopefully what will be left are the successful agents who have integrity (yes there are some of those out there who have both success and integrity).
Interesting that the previous gumnut here in the Philippines ( Gloria Arroyo ) took on alot of debt during the global financial crisis . And the new president , Pinoy Aquino , is continuing to sell gumnut bonds into the market ................ But , and this but is bigger than Bernard's , the Phils are growing their GDP at an annualised 7.9 % . They are using the debt wisely , and growing the economy . They can afford it ..................... Wot the Sam Hill do you folk in NZ think that you are doing !
Always the cynic , steven ! The Phils are upgrading their housing stock , for sure , from a substandard position . But they have a services and manufacturing expansion occurring too . And an infrastructure upgrade . The economy is growing . They can service their debt . The debt was used wisely .
It isn't a ponzi-housing bubble economy as the lefties ( Clark & Cullen ) bequeathed to you .
Often growth figures aren’t sustainable and need to be analysed.
http://unpan1.un.org/intradoc/groups/public/documents/apcity/unpan005106.pdf
http://www.footprintnetwork.org/images/uploads/Keynote%20Address%20Rees.pdf
Wellington based baby buggy business , Ted & Phil's has won an international award for the design of an accessory which clips onto their Mountain Buggy range . Currently the firm has 51 markets . ............. There you go , New Zealand .............. There is economic life beyond the farm gate .......... Now , how to re-balance the economic and fiscal mix in NZ , such that more start-ups are created , and thrive ?
On Friday's top ten after my initial insult to Bolly I did ask some... I think... reasonable questions Bernard i do hope you at least take the opportunity to read them......
On the beard thingy....the addition of a pair of swim goggles won't improve your credibility
one iota ..........but your hit rate would pop your server.
hmm not sure what you are driving at with "economic and fiscal" that needs re-balancing?
Beyond the frequent comments made that ppl over-invest in property....but that's understandable ppl become PIs because its relatively safe for them to do so ( I think) compared with the sharks out their in Equity and finance.
Look at some of the comments we see on share market "analyists/commentators that the SOEs should be floated to encourage "mom and pop" to come back into the share market...Ask yourself why is it the companies in the NZX already are such poor buys? mainly because they have been asset stripped in the name of short term profit and loaded with debt....mom and pop investors get caught with crippled companies as the Institutional investors and fund managers run with the capital they have extracted as lump sums and as a commitment on future earnings (that debt)...so the sharks have circled and made off with the profits oftern for 5 years in advance....leaving almost worthless comapnies.
A similar thing is obviously going on in the finance sector...SCF is a great example....
So this needs sorting, we need regulation to get transparency, balance and fairness....because the free market feeding frenzy just becomes survival of the fittest (biggest and brightest shark) in which case mom and pop dont put their foot in the water....they arnt stupid...they know ppl will rip them off so they dont play.
besides this quite often ppl of talent and ability are not (mainly) $ driven....an interview with the baby buggy ppl would be interesting....lets see what drives tham and makes their life easier...
Some areas we already do well on, for instance when we look at how easy it is to start up a business in NZ NZ scores very well......
regards
Steven "when we look at how easy it is to start up a business in NZ NZ scores very well......"
And absolutely vital that it stays that way I reckon Steven.
An absolute ripper from Charles Hugh Smith today on this issue.
What is absolutely striking about most of urban America is how devoid it is of informal enterprise. We in America have overly formalized and thus destroyed vast swaths of enterprise. Food must be prepared in approved kitchens (which all cost thousands of dollars a month to lease), goods must be sold from storefronts and restaurants with handicap-accessible bathrooms, and so on.
A very powerful capitalistic form of self-help and upward mobility has thus been destroyed. I think this is the "secret" behind the often-remarkable upward-mobility successes of immigrants from Asia, Africa and the Americas: they come from societies which enable and thus reward (not as "official policy" but as a culture) small-scale entrepreneural hustle and thrift.
That culture has largely been extinguished in the U.S. by regulation and high-overhead formalization. Thus to "start a small business" in America you must borrow tens of thousands of dollars and have enough capital to survive the long permit/licensing process. You start business deep in debt and with horrendous overhead: high rent, high fees, high taxes, payroll taxes, healthcare costs, and on and on.
http://www.oftwominds.com/blogsept10/solutions-informal09-10.html
Good to have you back , man ..... sorry , Duke . You raise a good point , where are the headlines extolling the 197 pt. rise in the Dow ........ Sure as heck it gets a mention if she plops 197 pts. on any given day .......... Not a terribly balanced and objective lot these journalists , are they Bernard !
Boys and Girls,
What would you pay for a 2 bdm, 2 bthrm 1 secure carpark apartment - great north facing views, concrete construction - no water tightness issues, great condition - Auckland City fringe - rented @ $485 per week ... July 08 rating value $340K .... AT A MORTGAGEE AUCTION ???
C'mon all your PI's, show us your stuff !!!
Cheers
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