The Right People For The Job?

5 Sep

With four kids there is always housework to be done so you get the simplified version of the Directors of the companies I mentioned in Incestuous Electricity.  I’m sure you will see the common theme without me explaining it all to you.  All info has come from the Companies Office

Invercargill City Holdings Limited

Alan Geoffrey DENNIS
Norman James ELDER
Timothy David Raymond LOAN
Cameron Andrew MCCULLOCH
Graham John SYCAMORE

Electricity Invercargill Ltd

Neil Douglas BONIFACE
Thomas CAMPBELL
Darren James LUDLOW
Philip James MULVEY
Ross Lindsay SMITH

Pylon Ltd

Neil Douglas BONIFACE
Thomas CAMPBELL
Darren James LUDLOW
Philip James MULVEY
Ross Lindsay SMITH

Last Tango Ltd

Duncan Varnham FEA
Douglas William FRASER
Alan Bertram HARPER
Maryann Louise MACPHERSON

The Power Company Ltd

Duncan Varnham FEA
Douglas William FRASER
Alan Bertram HARPER
Maryann Louise MACPHERSON

Electricity Southland Ltd

Neil Douglas BONIFACE
Thomas CAMPBELL
Duncan Varnham FEA
Douglas William FRASER
Alan Bertram HARPER
Maryann Louise MACPHERSON
Philip James MULVEY
Ross Lindsay SMITH

Powernet Ltd

Neil Douglas BONIFACE
Thomas CAMPBELL
Duncan Varnham FEA
Douglas William FRASER
Alan Bertram HARPER
Maryann Louise MACPHERSON
Philip James MULVEY
Ross Lindsay SMITH

Otagonet Ltd

Neil Douglas BONIFACE
Kenneth John FORREST
Jason Richard FRANKLIN
Alan Bertram HARPER
Terry Michael SHAGIN

Those are the ones with the more direct Invercargill link.  Someone else may have to chase done what roles receive remuneration etc.

Advertisements

10 Responses to “The Right People For The Job?”

  1. Philip.T September 5, 2013 at 2:20 pm #

    HAHAHAHAHAHAHAHAHA

    • Philip.T September 5, 2013 at 5:18 pm #

      Just thought it was funny there are so many people around with the same names

  2. well... September 5, 2013 at 5:03 pm #

    On what is available in annual reports,

    Powernet= Directors $22,000, Chair $40,000

    Electricity Invercargill= Directors $22k, Chair $45,0000

    The Power Company= Directors $24,900, Chair $45,000

    So Boniface is clipping the ticket to the tune of at least $67,000 plus $42,630 for councillor / committee chair, plus whatever fee is paid for Invercargill Venues and Event Management Limited, not bad work if you can get it!

    • Philip.T September 5, 2013 at 5:23 pm #

      You are still missing a few companies Otagonet, Pylon Ltd and there are few little ones like the Warm Homes Trust that he gets $30K a year for. Keep digging and there will be others. Just got to be in the right place at the right time because its got little to do with business acumen.

      • Kylie September 5, 2013 at 6:01 pm #

        Can’t find any payments for Warm Homes Trust but the admin services provided by Powernet are $61k and admin expenses are $150k+. I’m thinking administering a trust could fall under that but I have no evidence as such.
        That was only a quick rundown but I’m working on a more definitive list with $ attributed. I’m supposed to be out campaigning…lol

  3. Philip.T September 6, 2013 at 8:23 am #

    4. RELATED PARTIES
    The Trust received a donation during the year of $300,000 (2010: $250,000) from The
    Power Company Limited. The Power Company Limited is a 100% owned subsidiary of the
    Southland Power Trust, of which Jim Hargest is Chairman and Graham Sycamore and
    Vaughan Templeton are Trustees.
    The Trust received a donation during the year of $230,000 (2010: $170,000) from
    Electricity Invercargill Limited, of which Neil Boniface is Chairman.
    The Trust received a donation during the year of $70,000 (2010: $100,000) from the
    Invercargill Licensing Trust, of which Neil Boniface is a Member.
    The Trust received a donation during the year of $70,000 (2010: $100,000) from the ILT
    Foundation, of which Neil Boniface is a Trustee.
    The Trust received a donation during the year of $130,000 (2010: $100,000) from the
    Community Trust of Southland, of which Tracy Hicks is Chairman.
    The Trust received a donation during the year of $50,000 (2010: $50,000) from the
    Invercargill City Council, of which Neil Boniface is Deputy Mayor and Graham Sycamore a
    Councillor.
    The Trust received a donation during the year of $15,000 (2010: $15,000) from the Gore
    District Council, of which Tracy Hicks is Mayor.
    The Trust uses PowerNet Limited to provide administration services, of which Neil
    Boniface is a Director. Fees for administration services during the year amounted to
    $61,380 excluding GST (2010: $60,345 excluding GST) of which $5,882 including GST
    (2010: $5,754 including GST) is owing at balance date.

    • Philip.T September 6, 2013 at 8:26 am #

      A short part from the 2010 Southland Warm Homes Trust balance sheet. Seems to reflect the common thread again.

  4. Philip T September 6, 2013 at 3:46 pm #

    The other question is how many of the above positions are appointed and how many are elected. Normal business boards are elected by the shareholders and understand they are responsible to those who elected them. Appointed positions have very little understanding of who they are accountable to.

    • not quite September 6, 2013 at 4:04 pm #

      Well they are certainly accountable through annual reports / meeting from a legal standpoint their fiduciary duty is to the best interest of the company,

      • Philip.T September 7, 2013 at 12:15 pm #

        Not Quite normal boards are put under the microscope by shareholders. It is not hard to see what similar companies are making and make comparisons as one example of understanding accountability. For instance a transport company may make a profit of 4% of total turnover. If you were on the board of a company making just 2% you would ask questions. With the CCO’s the interlinking of directorships makes the same extremely hard as directors also when they wear their councillor hats are the shareholders. Who is going to let something the reflects on them be hotly debated and criticised. Also why does council go to such lengths to keep the annual reports and accounts from public scrutiny. There is no need for Holdco as the other companies could report directly to council but by doing that the accounts would have to be come public. Holdco receives the accounts of the other companies and reports in such a manner that no one could understand what and where money comes from

Got something to say?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: