That's the value in Auckland Airport shares owned by the man known as the Little General around Parliament, mainly because he's always so cock sure of himself.
But and it's a big BUT, Michael Wood is the Transport Minister, or was up until a couple of days ago, and the Prime Minister says he will be again once he sells down his shares to avoid any conflict of interest.
Wood was asked by the all powerful Cabinet office a dozen times over the past two years or so to get rid of the shares. The requests came from November 19, 2020 with the latest one coming on March 27, 2023. On each occasion he said he was about to divest himself of the shares. Most of us would simply be able to do this by picking up the phone.
That seems beyond Wood's capability, and if he didn't he doesn't seem to remember it.
An embarrassed Chris Hipkins says it's unacceptable for the minister to hold on to the shares for so long and after so many requests to rid himself of them. But it seems unacceptability is acceptable in this Government's books.
It also seems, at least at the moment for the Minister in his transport role, to turn down a case by a North Shore airport to get a more formal status. Of course it would work in competition to the super city's airport and for a share holding minister to turn down an application by competitors is what is really unacceptable.
Now it would be too far fetched to suggest that Wood, holding such a small share ownership in the airport would make the decision to preserve the value of his shares. But it's the perception that doesn't pass the sniff test and given he had so many opportunities to shed the shares makes it worse.
It raises questions about all the other decisions he's made and then gone back on at great cost to the taxpayer, and the $50 million wasted on the Baby Boomers Bile Bridge to Birkinhead is the most obvious.
There should be no coming back for Wood, he's transgressed in one of the worse ways a minister can.
It's incredible to think that he follows a line of ministers who've crossed the line since Hipkins took over from Jacinda Ardern. Stuart Nash is still under investigation, there's Jan Tinetti who faces the privileges committee on Thursday for either being dumb, or obstinate or arrogant by not correcting a statement she made to Parliament when she had plenty of opportunity to do so. And there's Kiri Allan who's faced a number of transgressions.
All but Nash appear to have been forgiven, simply it seems, because they've shown some sort of contrition.
Ministers in other Governments over the years have been given the boot for less. But it seems Hipkins, the sous chef in Ardern's kitchen Cabinet, is as weak as her when it comes to Cabinet discipline.
It's even worse when there should be a raft of MPs to call on to step up, given Labour has the biggest caucus in memory.
The fact that there isn't speaks volumes about the unbridled power of this Government.
Barry Soper is a New Zealand political journalist, and has been featured regularly on radio and television since the 1970s. Currently, Soper's main role is political editor at Newstalk ZB, a radio network in New Zealand. This article was published HERE
That seems beyond Wood's capability, and if he didn't he doesn't seem to remember it.
An embarrassed Chris Hipkins says it's unacceptable for the minister to hold on to the shares for so long and after so many requests to rid himself of them. But it seems unacceptability is acceptable in this Government's books.
It also seems, at least at the moment for the Minister in his transport role, to turn down a case by a North Shore airport to get a more formal status. Of course it would work in competition to the super city's airport and for a share holding minister to turn down an application by competitors is what is really unacceptable.
Now it would be too far fetched to suggest that Wood, holding such a small share ownership in the airport would make the decision to preserve the value of his shares. But it's the perception that doesn't pass the sniff test and given he had so many opportunities to shed the shares makes it worse.
It raises questions about all the other decisions he's made and then gone back on at great cost to the taxpayer, and the $50 million wasted on the Baby Boomers Bile Bridge to Birkinhead is the most obvious.
There should be no coming back for Wood, he's transgressed in one of the worse ways a minister can.
It's incredible to think that he follows a line of ministers who've crossed the line since Hipkins took over from Jacinda Ardern. Stuart Nash is still under investigation, there's Jan Tinetti who faces the privileges committee on Thursday for either being dumb, or obstinate or arrogant by not correcting a statement she made to Parliament when she had plenty of opportunity to do so. And there's Kiri Allan who's faced a number of transgressions.
All but Nash appear to have been forgiven, simply it seems, because they've shown some sort of contrition.
Ministers in other Governments over the years have been given the boot for less. But it seems Hipkins, the sous chef in Ardern's kitchen Cabinet, is as weak as her when it comes to Cabinet discipline.
It's even worse when there should be a raft of MPs to call on to step up, given Labour has the biggest caucus in memory.
The fact that there isn't speaks volumes about the unbridled power of this Government.
Barry Soper is a New Zealand political journalist, and has been featured regularly on radio and television since the 1970s. Currently, Soper's main role is political editor at Newstalk ZB, a radio network in New Zealand. This article was published HERE
6 comments:
It raises questions about the whole corrupt system masquerading as democracy?
Just another example of the socialist labour/greens/maori cults utter contempt for regulations and the voters.
The forgiveness comes because they are a collective hive of corrupted con-artists posing as politicians representing New Zealand citizens.
Nash was gone because he was always probably going so he was given the flick.
The rest of the hive nest upon the democracy that elected them but contrive to corrupt it to enable thier advancement of self.
Labour are no longer a government, they are just another elitist corrupted regime.
New Zealand has never seen such a despotic collection of self serving see you next tuesdays....ever.
Feel a bit sorry, just a little bit, for Hipkins who inherited the poison chalice and now has to deal with all the BS. Reminiscent of another half decent Labour man Mike Moore who took the reins from one G. Palmer. I hesitate to recognise them by their titles but can only hope that history does repeat in October.
And let's not forget the Mahuta/Ormsby rort and the orchestration of the 'sister' nepotism with the aid of Davis. Tribalism personified, and just more to add to the growing 'gang' numbers polluting what was once a decent NZ.
CORRUPTION, CONFLICT & CHAOS, at every turn!
As yet nobody, not even Mr Soper, has shown us specifically, precisely, exactly, how Wood might have benefitted at any time by his position as Minister of Transport. Moreover nobody has shown us how he might benefit in the future through continuing to hold his shares.
My take is that any MAJOR government decision affecting Auckland International Airports share price would be a collective cabinet decision, where it could be expected he would abstain. I am not a share market expert, but if Auckland City Council dumped a container load of shares on the market would the price collapse or go through the roof?
There must be more pressing matters for all parties to be chasing.
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