Pet Peev

25 Nov

I sat in the car outside Kindy waiting for the very looong Venture Southland ad to finish on the radio.  The cost of the ad played on my mind….significantly.  Once inside the Kindy I saw the headline in the paper.  A brief scan and I was immediately annoyed.  One of the first decisions of the oyster festival committee when it formed was the name of the event, Bluff Oyster & Food Festival.  Given Venture Southland recently promoted a flower show as being in November when it is actually in February, I don’t doubt that this is their error.

The Burt Munro Challenge and the Bluff Oyster and Seafood Festival are Southland’s two biggest destination events, bringing more than $2m into the region each year, Venture Southland group manager tourism, events and community Rex Capil says.

A report was being prepared for the Venture Southland advisory subcommittee next month about economic impact research focused on outside money brought into the Southland economy through five events – including the Burt Munro Challenge and Bluff Oyster and Seafood Festival.

I shouldn’t make assumptions though….who should I correctly blame?  *Southland Adventures or *The Southern Times?

Nor was I impressed to see information from the assessment in the paper before it is provided to those who permitted the assessment, Bluff Oyster & Food Festival committee.  Venture Southland, the epitome of professionalism?  I think not.

*  Intentional ‘error’

Wasting Money

21 Nov

Jenny McNamara’s letter highlights the waste of time and money that Citizen Initiated Referendum are.  It reminds me a lot of the ICC consultation process.  Just sayin’.

Shame On Me:-(

14 Nov

Henry rung me after 4.30 and reminded me that Uncalled Shares submissions close at 5pm.  Argh!  So I will ashamedly admit that my submission was done in 15 minutes.  It will be public at some point so here it is now so I can get my embarrassment out of the way now.  My head is in a million places lately and I hope I can speak on my submission to clarify the intent of my comments.

Here it is, feel free to ask what I was meaning…lol

I wish to submit in opposition to increasing the uncalled capital of Invercargill City Holdings.  I support Option 1
 
ICHL as shown a significant level of incompetence and arrogance throughout the process of increasing the uncalled capital.  The documents presented have been poor in providing balanced information.  Option 1 is being presented as halting already apporved works, this suggests the so-called professional directors are making decisions before funding is in place and the primary shareholders (Invercargill ratepayers) are being consulted as an after thought.
 
I most definitely oppose  ‘the option of increasing that by a further $30,000,000 should it be required for further investments by Electricity Invercargill Limited at a future date.
The type of investment that Electricity Invercargill Limited may require the future uncalled shareholdings for include smart meters outside of Electricity Invercargill Limited’s network and alternative energy joint ventures.’
A significant concern for me is the suggestion in the media that EIL may invest in Flat Hill Wind Farm.  As ICC are the authorising body for the wind farm consent and Holdco and subsidiaries are rife with elected members as paid directors that show no understanding of conflicts, bias and pre determination.  History has shown ICC and the directors have no ability to be professional and unbiased.
 
I do not feel this statement is upfront either ‘This proposal does not impact on Invercargill City Forests Limited.’  Given forestry is indebted to Holdco for $22.6M, I do not believe there will be ‘no impact’.
 
Given this statement
The $32,350,000 allows for the extra security as required by ICHL’s bank.
The directors must have asked the bank for this arrangement and went ahead without having everything in place and approved.  They made the bed now they should lie in it.  Us in the real world have to face that on a daily basis to pay our rates and the like.
 
I oppose option 2 or 3.  I support the status quo.

Are You For Real?

13 Nov

The Audit and Risk meeting, not surprisingly, has public excluded business.

The topics to be covered are

General subject of each
matter to be considered

(a) Conformation of
Minutes for
meeting held on:
21 October 2014
(b) Report by the Director of
Finance and Corporate
Services
Insurance Update
(c) Report by the Manager of
Strategy and Policy
Interests Register
(d) General Business

Check out (d)!!!!!!

ICC obviously hold no respect for LGOIMA or the public.

City Forestry Finances 2014

12 Nov

Here are the 2014 finances for Invercargill City Forests Ltd (8Mb because it is scanned – only 25 pages) and the $22.7 million they owe to Holdco.  Realist will be interested in PDF page number 14 (Forest Growth Ltd information)

Forestry Chair Report

12 Nov

I don’t have much time to type.  Here is the full chairman’s report from Invercargill City Forests Chair Les Pullar.  I’ve highlighted the start of a paragraph that I found interesting, and a forest name

icfAll the commendations for Forest Growth and no mention of the shareholdings they have in it…

ICP Finances

12 Nov

Here are the finances of ICP and the financial notes are at the bottom of the earlier post.  You can see my head is all over the place today!

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