Air New Zealand is looking a good sale prospect for the
Government if it continues to get bogged down in political
debate with the Labour and Green parties over the partial
float of state-owned energy assets.
Lengthy and costly legal action, with the Government footing
much of the bill, would inevitably follow the introduction of
the Labour-Green proposal to introduce a single buyer of
electricity, Mark Warminger says.
Sharebrokers are reporting increased inquiries about Mighty
River Power shares and some investors deciding to cancel
their orders and get their money back.
The Labour and Green parties have scored an early win by
forcing the Government to file a supplementary disclosure on
the Mighty River Power offer document.
The Reserve Bank has kept the official cash rate at 2.5% for
two years and is widely expected to keep it at that rate
until perhaps March of next year.
Auckland-based technology company Dimension Data has secured
a multimillion-dollar contract with the University of Otago
and will open an office in Dunedin employing eight staff to
help support that new work.
More than half a billion dollars has been wiped off the value
of Contact Energy and TrustPower since Wednesday night, the
day before the Labour and Green parties announced their plans
to lower electricity prices.
BNZ chief executive Andrew Thorburn and the BNZ board were
in Dunedin this week meeting clients and talking to staff.
Business editor Dene Mackenzie talked to Mr Thorburn during
his visit.
New Zealand's reputation as an international investment
destination would be damaged by the Labour and Green parties'
proposals to bring down power prices, Milford Asset
Management senior analyst William Curtayne said yesterday.
