PGW SFF deal dying

October 31, 2008

The deal hasn’t quite died but PGG Wrightson has indicated its bid to take a 50% stake in Silver Fern Farms is definitely on life support.

At its annual meeting in Christchurch yesterday, chairman Craig Norgate told shareholders that his belief in the partnership and its benefits to farmers remained, but “it was fair to say that we are now unlikely to be able to consummate the transaction in its current form within an acceptable time-frame to Silver Fern Farms.”

PGG Wrightson’s share price had tumbled along with almost every other stock, and Mr Nor-gate said it would now be more costly to raise the necessary finance.

Plunging the depths of the shallows

October 31, 2008

Jim Hopkins gets it right again:

For all that we may wish to be regarded as deep and meaningful, much given to the sort of metaphysical ponderings best left to turgid German philosophers, the truth is most of us are never happier than when we’re paddling in life’s shallows.

The rest of his column is here.

Dismal stats

October 31, 2008

Eric Crampton’s has analysed voting odds at iPredict and concludes:

So, National’s chances of getting more seats than Labour look more like 57% than like 70%. And those chances get much worse in the 26% probability case that Peters returns to Parliament.

Anti Dismal  says:

Don’t you just love economists and statisitics?! But what this says is that either Eric has gotten his calculation very wrong or the iPredict market has gotten something wrong. If it is the latter then there is money to be made. Go to it!

8 more sleeps . . .

October 31, 2008

. . . until election day and is anyone surprised at which parties the unions like?

Trust ’em – yeah right

October 30, 2008

From the creative genius at goNZo Freakpowere

Standing ovation from 1000 in Southland

October 30, 2008

John Key got a standing ovation from 1000 people  at the Invercargill Working Men’s Club last night.

National’s Eric Roy won the Invercargill electorate in 2005. He’s worked hard, is very good with people, even his opponents admit he’s a honey and the boundary changes which take the seat north to the outskirts of Mataura and west (or is it south?) to Riverton favour him so he should have no trouble retaining the seat.


I love being a writer.  What I can’t stand is the paperwork

However, Eric’s personal popularity – 15, 570 votes was greater than that for his party and Labour won thae party vote with support from 14,369 people compared with 12,559 who voted for National.

The standing ovation from a near capacity audience is a good sign that the party vote may have grown in the city.

However, I’m not sure whether to be further encouraged by the news that Winston Peters could only attract around 80 people to a meeting at the same venue earlier in the day. That’s only 8% of the numbers who came to hear John, but he needs only 5% support to stay in parliament.

Hat Tip: Roarprawn

Clark tumbles

October 30, 2008

It hasn’t been helen Clark’s day.

First she’s had to dodge the fallout from the “neutron bomb” which turned into a fizzer and backfired on Labour, then she took a tumble in a shopping mall.

It was an unfortunate accident and she wasn’t hurt, but, like Don Brash’s plank walking, it’s not the sort of shot she’d want the media to have in their libraries when they’re looking for a photographic metaphor for her political fortunes.

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