Politics

[Minimoke]

Hmm - not a fan of Labour either - but turning an AIA holding of slightly above NZD 10,000 into a hanging offence for not managing the "conflict of interest" appears ridiculous.

Just wondering how many politicians would need to leave the beehive if we fire every MP landlord who voted in the tenancy law reform or changing the tax treatment of landlords? And for each of these landlords (on both side of the political spectrum) there would have been much more money at stake than for Woodhouse doing anything about AIA.

BTW - did he do anything which was beneficial to AIA? How many $100 did he make out of that (if at all)?

I really think National would be good advised to focus on the things Kiwis really care about. So easy for them to loose the next election if they continue this stupid "p*ss against every tree" strategy.

The isse isn't that he holds a few AIA shares.

The issue is that he failed to declare that holding ever. Not once in all his time in parliament - which is a requirement of all MP's. And if MP's have a rental property they should declare that as well - and they do.

Then to compound his "crime" he failed to declare his shareholding when he became both Minister of Transport (affects airports) and Minister for Auckland (affects, obviously, Auckland)

And then to top it off he was told to dispose of those shares to avoid a conflict of interest situation, no less than 6 times.

And if anyone has the stomach for cream on top of that topping his wife who is an Auckland City Councilor also failed to declare her interests - which is a requirement of Councilors.

I've had the "pleasure" of meeting him a couple of times. He loved the adoration thrown at his feet by his sycophantic union rep adorees (and what a ghastly lot they were). And didnt take to kindly being told some home truths about what the real world actually looked like. Lets say I was far from impressed. But I left with a much better understanding of the Peter Principle.

Edit - we now learn that on 12 occasions he said he was going to sell his shares but never did. This is far from trivial.

[KW]

Edit - we now learn that on 12 occasions he said he was going to sell his shares but never did. This is far from trivial.

Once is a mistake.  Twice is forgetful.  12 times and it becomes outright and deliberate deceit.  

[Onemootpoint]

The isse isn't that he holds a few AIA shares.

The issue is that he failed to declare that holding ever. Not once in all his time in parliament - which is a requirement of all MP's. And if MP's have a rental property they should declare that as well - and they do.

Then to compound his "crime" he failed to declare his shareholding when he became both Minister of Transport (affects airports) and Minister for Auckland (affects, obviously, Auckland)

And then to top it off he was told to dispose of those shares to avoid a conflict of interest situation, no less than 6 times.

And if anyone has the stomach for cream on top of that topping his wife who is an Auckland City Councilor also failed to declare her interests - which is a requirement of Councilors.

I've had the "pleasure" of meeting him a couple of times. He loved the adoration thrown at his feet by his sycophantic union rep adorees (and what a ghastly lot they were). And didnt take to kindly being told some home truths about what the real world actually looked like. Lets say I was far from impressed. But I left with a much better understanding of the Peter Principle.

Edit - we now learn that on 12 occasions he said he was going to sell his shares but never did. This is far from trivial.

Good points, as well as Blackpeter's post.

Given that it is such a relatively small value, why on earth (in other words: what was he thinking) would he not comply. He seemingly had so little to lose/ or gain with those shares, but so much to lose by hanging on to them.

[Minimoke]

Good points, as well as Blackpeter's post.

Given that it is such a relatively small value, why on earth (in other words: what was he thinking) would he not comply. He seemingly had so little to lose/ or gain with those shares, but so much to lose by hanging on to them.

Back in june 2020 the shares had dropped to $6.00. They are now $9.00. So that's 50% return on delaying.

[BlackPeter]

Back in june 2020 the shares had dropped to $6.00. They are now $9.00. So that's 50% return on delaying.

Hmm - so, if the shares are now worth $13000, they were worth $8700 in June 2020.

This means he lost his job for gaining $4300, which is clearly less than a weeks worth of wages for him.

Not very smart.

But anyway, I accept your post that it's not about the meagre amount he might have made, it's about him not being able to follow simple instructions. And yes, hard to explain that bit for somebody they make a minister.

[Onemootpoint]

Here's how much Michael Wood's shares have increased in value since he was first asked to sell

https://www.stuff.co.nz/business/300899541/heres-how-much-michael-woods-shares-have-increased-in-value-since-he-was-first-asked-to-sell

I also found this interesting:
" It has been reported that Wood bought the shares as a teenager. The shares listed in February 1999 at an offer price of $1.80."

Politics and errors in judgment aside; good that a person starts thinking about investments at a young age.

[Minimoke]

Here's how much Michael Wood's shares have increased in value since he was first asked to sell

https://www.stuff.co.nz/business/300899541/heres-how-much-michael-woods-shares-have-increased-in-value-since-he-was-first-asked-to-sell

I also found this interesting:
" It has been reported that Wood bought the shares as a teenager. The shares listed in February 1999 at an offer price of $1.80."

Politics and errors in judgment aside; good that a person starts thinking about investments at a young age.

He clearly isn't very smart. I doubt he would have the intelligence to be buying shares as a teenager. I reckon if we dug deep someone else bought them for him. Why? Look at his declared shareholding. AIA and Contact. None others. If he was such a canny investor he would be holding more companies. He would also have been a student at the time and I'm not aware that christmas tree salesmen make enough money pre Christmas to be doing much other than buying a few beers. He graduated with a BA so clearly had an inclination to do as little as possible and it wasnt a commerce degree - which would align better with be an early market investor. In 1998 he went on a march against inequality - so a bit hypercritical of him the be a fat cat sharemarket investor the following year.

[Henry Filth]

What we're seeing with Mister Wood is the sort of entitled arrogance that normally comes in during the last term of a three-term government.

Is it an omen?

[Waltzing]

The auckland council meeting  for the sale of AIA share showed a council of completely economic nit wits....

What a bunch of .....  DUMP NZ stocks... short the KIWI... flee the ship...

but wait maybe all the clever people are working in Private enterprise and as winner says .. All Good Then.

[Waltzing]

Seats.... the right is coming... no more red tape...  basically we need to get them to LIST everything that can make money...

[Waltzing]

Since the Virus it just not the right thing to do to Kiss babies...

No more public meetings ...

Hmailton a hot bed of Hocus pokus...

https://www.stuff.co.nz/opinion/300902409/remember-when-politicians-used-to-kiss-babies-and-do-walkabouts

[KW]

Since the Virus it just not the right thing to do to Kiss babies...

No more public meetings ...

Hmailton a hot bed of Hocus pokus...

https://www.stuff.co.nz/opinion/300902409/remember-when-politicians-used-to-kiss-babies-and-do-walkabouts

David Seymour and co have all been busy doing public meetings.  Everywhere.  On street corners even.  Its one of the reasons I will be voting for him.  He's the only one really interested in hearing what voters have to say, and doing the hard yards in getting out there.  Everyone else just sits on their arse and puts out press releases.

https://www.davidseymour.org.nz/epsom-events

[Waltzing]

Yes and the Tax Payer union also ...

https://www.taxpayers.org.nz/taxpayer_update_230610

Parker wont turn up...

[Breezy]

Absolutely disgusting and disgraceful this new directive to surgeons to prioritize surgery for Maori and Pacific Islanders over other races in NZ, no matter if others have been on the waiting list longer and/or are at more health risk. The surgeons can't believe it and they aren't the only ones, healthcare should be completely colorblind.

[Untamed]

Official source please?

Absolutely disgusting and disgraceful this new directive to surgeons to prioritize surgery for Maori and Pacific Islanders over other races in NZ, no matter if others have been on the waiting list longer and/or are at more health risk. The surgeons can't believe it and they aren't the only ones, healthcare should be completely colorblind.