Duck Holdco!

8 Oct

Pottinger declared himself, Swallow is always challenging expenditure (Holdco in particular this time).   Now we have Dow and Rohan on the Holdco warpath.  What fun lies ahead;-)

The editor’s comment has to make you laugh though given it was the Southland Times that created the situation (but Elder is not without blame).

The story is that the Southland Times were going to get Calder Stewart to build on the Don/Deveron St car park.  The Southland Times and ICC concocted a plan to exchange sites so ICC would have more central car park space.  The deal fell apart and Southland Times then chose to outsource to Dunedin.

Calder Stewart by that point owned the land and got another client.  ICC ended up with less than market rate (which was increasing every day) for the site and were down some CBD car parking.  The usual dog’s breakfast.

I think these dates are important reminders of the deception involved.



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