Attemps to sell the struggling Dunedin City Council-owned company Citibus have finally been confirmed, and a condition of any sale could secure the future of drivers.
Dunedin City Holdings Ltd's under-fire governance structure is about to go under the microscope, but Mayor Dave Cull says the solution will be up to the Dunedin City Council.
Dunedin city councillors have again been reassured the days of Dunedin City Holdings Ltd companies borrowing to help fund dividend payments to the council are over.
Dunedin City Holdings Ltd yesterday reported an improved operating profit of $26.6 million for the year ended June, up nearly 9% on the previous corresponding period.
A major announcement about the future of Dunedin's council-owned companies is expected today, after political ructions that have soured city politics since July, and a behind-closed-doors meeting yesterday.
More events, more members, reductions in overhead costs and staff cuts contributed to a significant cut in losses in the first six months of this financial year for Dunedin's Forsyth Barr Stadium, its operator reports.
A $9 million write-down in Delta's investments - including property at Jacks Point and Luggate - is partly to blame for a multimillion-dollar loss booked by the Dunedin City Council's group of companies.
The Dunedin City Council has sacked the board of the city's holdings company as Dunedin Mayor Dave Cull acted swiftly yesterday to implement moves ratified by the council the previous day.
There were words of praise, but also of caution, as the Dunedin City Council yesterday locked in a 4% rates rise for the coming financial year.
Dunedin city councillor Lee Vandervis says holding Monday's extraordinary council meeting with no report for councillors to read beforehand is both "illegal and immoral".
Directors of Dunedin City Holdings Ltd say they have delivered for the Dunedin City Council, despite being removed from their posts or forced to resign.
Dunedin City Holdings Ltd chief executive Bevan Dodds is to lose his job as the Dunedin City Council tightens its grip on the financial affairs of its companies.
A heated political storm has started after an announcement Dunedin City Council companies will not be able to come up with $8 million of dividends to help pay for multimillion-dollar spending.
As the Dunedin City Council shake-up of the governance of its companies begins, it should be asked if the council is, in fact, going far enough.
The Dunedin City Council is cutting its reliance on dividends from Dunedin City Holdings Ltd, but still fears being left exposed by another sudden drop in cash from its companies, chief executive Paul Orders says.
A longtime opponent of Dunedin City Council spending policies says he is feeling vindicated by what he says is evidence of poor financial decisions by the organisation.
The Auckland company director brought in to take control of the Dunedin City Council's group of companies following the sacking of the board of directors says it will be next year before concrete decisions are made on the companies' restructure.
The man brought in to help fix the Dunedin City Council's companies has been replaced.
Dunedin Mayor Dave Cull has stuck to his claims the board of Dunedin City Holdings Ltd was responsible for formally acknowledging it could not provide the money required by the city to pay its debts.