Brian Gaynor: Shades of Muldoon in Cullen's edict - 08 Mar 2008 - NZ Herald: New Zealand Business, Markets, Currency and Personal Finance News: "Finance Minister Dr Michael Cullen's decision to effectively stymie the partial takeover offer for Auckland International Airport (AIA) is an unwanted reminder of the meddling policies of former Prime Minister Robert Muldoon.
Dr Cullen's edict was so appalling, and so inconsistent with his policies of the previous eight years, that one can only conclude it was strongly influenced by political considerations ahead of this year's general election.
A restriction on the overseas ownership of strategic assets is not uncommon in other countries, particularly Australia, but the timing and method of the AIA decision was totally unsatisfactory for investors and overall sharemarket confidence."
Showing posts with label AIAL. Show all posts
Showing posts with label AIAL. Show all posts
Sunday, March 9, 2008
Tuesday, March 4, 2008
Labour's Attack on Property Rights
The government demonstrated that politics come before business with its decision to tighten overseas investment rules. But this is more than just Labour’s populist instincts to bash big business it’s an attack on private property rights. Michael Cullen has effectively cut 18% off the price of the AIA share price with his announcement today There has been overseas interest in the Auckland International Airport for two years and now that Labour is trailing by 20 per cent in the polls they suddenly decide that the new rules now need to extend the ‘importance of local control’ to the approval process.. So much for economic transformation. When votes are at stake Labour will do anything to remain in power and that includes turning New Zealand into the North Korea of the South Pacific.
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