Bernard Hickey talks with Marcus Lush on Radio Live at 6.50 am about markets turmoil; Yahoo's sacking; SAP's Right Hemisphere buy; Auckland's growth

Bernard Hickey talks with Marcus Lush on Radio Live at 6.50 am about markets turmoil; Yahoo's sacking; SAP's Right Hemisphere buy; Auckland's growth

Bernard Hickey and Marcus Lush talk every weekday morning just after 6.50 am about business, economics, markets and personal finance.

Every weekday morning just after 6.50 am I talk with Marcus Lush on Radio Live about the latest news in business, markets, economics and personal finance.

I usually send through suggestions the night before or earlier in the morning. Sometimes we veer off into other areas or pick up on things that happen overnight.

But here's my suggestions as of 11 pm the night before. I'll update later on Thursday with a link to the audio.

Here's the link.


1. I'll be watching overnight at how markets are reacting to the slow moving trainwreck in Europe's financial markets. The latest twist in the saga is a ruling by the German constitutional court that the German government can approve a bailout, but only if it gets parliamentary approval first.

Markets are up this evening on this news, but none of the basic problems are solved. See more here at Bloomberg.

2. Yahoo has sacked its CEO Carol Bartz after a couple of years in the job. She was paid US$60 mln, but failed to boost the share price. She was sacked via a phone call from her chairman and then promptly sent a short email to every Yahoo employee saying she had just been sacked via a phone call. Yahoo's share price rose. See more here at Bloomberg.

3. ASB's regional survey for the June quarter shows Auckland is strongest performing part of the economy expanding, and that's largely because it's the only place with rising house prices and a rising population.

Again, NZ's economy is really just a housing market with bits tacked on. See more here in ASB's survey.

4. And another tech success story is sold offshore. This time it's Auckland-based 3 D graphics software company Right Hemisphere. It's software is used by the likes of Boeing, Siemens and Chrysler to visualise and design products. Germany's SAP is buying Right Hemisphere for an undisclosed sum. It has promised to keep the 50 Kiwi based staff and repay an NZ$11 million interest free loan made under the Labour government. But there remain worries we'll see another Navman situation. See more here from Chris Keall at NBR.


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Here's the link to the audio.


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Legislation making membership of student unions voluntary is one step away from being passed into law.

About time too -  eat that Mr Little !

A step in the right direction. A Little step for students but a mightly leap for democracy.

 " We are seeing very weak aggregate demand, exactly as one would expect in a generational credit cycle reconciliation process"

No seriously...this is not an easy read but it does help defog the crystal ball....a bit.

And...if you read past the intro you reach this bit which sort of sums up what Bollard is up to...

 "our near myopic focus on credit is driven by the fact that credit is the cornerstone of modern economic development and balance, and certainly not just in the US. The character, availability and price of credit regulate the ongoing tone of aggregate demand, so monitoring credit is simply crucial. If credit cannot expand, then neither can aggregate demand. A simple yet key truism, especially in our current circumstances"

As I have claimed...the govt spin about encouraging saving is so much fluff for the peasants...the real effort is going into pumping the credit and making it cheap as chips....while allowing the beast to debase the currency....a game of smoke lies and mirrors.

FYI here's the link to the audio from this morning. We ended up not talking about Right Hemisphere.

Bernard, switch to  commenting on the RWC now that's finally about to get underway, you'll get morepeople interested