Key the smiling assassin as he sacked hundreds of Merrill Lynch staff...

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John key:  Before politics - the 'smiling assassin'...

Key's first job was in 1982, as an auditor at McCulloch Menzies, and he then moved to be a project manager at Christchurch-based clothing manufacturer Lane Walker Rudkin for two years.[7] Key began working as a foreign exchange dealer at Elders Finance in Wellington, and rose to the position of head foreign exchange trader two years later, then moved to Auckland-based Bankers Trust in 1988.

In 1995, he joined Merrill Lynch as head of Asian foreign exchange in Singapore. That same year he was promoted to Merrill's global head of foreign exchange, based in London, where he may have earned around US$2.25 million a year including bonuses, which is about NZ$5 million at 2001 exchange rates. Some co-workers called him "the smiling assassin" for maintaining his usual cheerfulness while sacking dozens (some say hundreds) of staff after heavy losses from the 1998 Russian financial crisis. He was a member of the Foreign Exchange Committee of the New York Federal Reserve Bank from 1999 to 2001.

In 1998, on learning of his interest in pursuing a political career, the National Party president John Slater began working actively to recruit him. Former party leader Jenny Shipley describes him as one of the people she "deliberately sought out and put my head on the line–either privately or publicly–to get them in there".

He doesn't appear to have changed much - now he smiles as thousands of NZ  public servants lose their jobs

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Don't cry over spilt milk - its all to do wth the elections...

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Farmers cry foul over milk price freeze...


Federated Farmers claim they're having to foot the bill for the move to freeze wholesale milk prices in New Zealand


Federated Farmers is crying foul over Fonterra's decision to freeze wholesale milk prices for the rest of the year.

The dairy giant made the decision after a week of public scrutiny at how much the price of milk is hitting consumers in the pocket.

But Federated Farmers dairy spokesperson Lachlan McKenzie says the news that farmer-shareholders would foot the bill came as a surprise to him.

"We seem to now have a desire for a small sector of 10,000 people to subsidise food for the other 4.5 million people" he told Newstalk ZB.

Mr McKenzie says some serious questions need to be asked as to why the supermarkets haven't had the same pressure.

Its all to do with the coming elections you thick headed  farmers! Do you want price controls?


Acknowledgement© 2011 NZCity, NewsTalkZB

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Sports investment will not create significant numbers of jobs here in NZ...

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John Key and the National Government is to invest more millions into sport. Great ! I would have to support the basic idea. but what is he really trying to achieve?

This government's inane philosophy has destroyed thousands of public service jobs. How is sport going to create significant numbers of jobs. Its sports policy appears to be about putting money into elite sport. This is not the priority at present.

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Claims that chances of privatisation of state owned Kiwibank remain low...

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Standard & Poor's assesses the chance of a privatisation of Kiwibank as low and is keeping its AA minus rating of the state-owned bank unchanged as a result.


But it said any change in ownership would trigger a review.



S&P said yesterday its ratings of the bank were unchanged despite speculation about possible privatisation and also the announcement of chief executive Sam Knowles' retirement.



"Our ratings continue to reflect our expectation that notwithstanding the recent discussion on possible privatisation of Kiwibank, the risk of privatisation remains low in the medium term," said the credit-rating agency.



"Nevertheless, in our less likely downside scenario, privatisation of the bank would be expected to put downward pressure on the ratings."



Kiwibank's rating rests on the guarantee from its wholly Government-owned parent, NZ Post.


If the Government wants to privatise Kiwibank it will happen in 2012.



- NZPA

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Is John key a financial wizard - is the Pope a protestant...

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John Key is considered a financial wizard because of previous employment, but is he? Is the Pope a protestant?








Since stopping contributions to the Cullen NZ Super Fund, National has cost the country's taxpayers $30 million dollars.





If full contributions had been maintained, the fund would have earned $50 million dollars more, calculations have determined. Even taking extra costs involved, the fund would have earned another $1 million dollars a week for the last 8 mths.







The Government paid in $250 million dollars, instead of the expected $15.5 billion dollars. They claim no further payments will be made until the budget is in surplus. The Treasury estimates it will be 2020 before this occurs.







This is financial mismanagement to go with the total mismanagement of the country by these so-called experts. they couldn't be trusted with the management of the local kindergarten. John and Bill: Hold an early election to prove you know what you are doing. Prove your credentials are sound? Yeah right!

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Mining is not the answer John key - tourism is...

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The National Government is digging its own political grave with this mining debate that is not built on any outstanding need, but its rhetoric will help NZ catch up with Australia? Bollocks! Australia has a far greater population, is a richer country and has far greater supplies of mineral wealth around the country.

Nothing wrong with a stocktake, but New Zealand's economic  future is bound up with its greatest potential - tourism! Mining will defeat that very purpose in many parts of the country where mining is proposed. Coal supplies can remain until they are needed, not at present Mr John Key. Its money in the bank for a rainy day, and it isn't raining today!

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Telecom's XT problems not surprising under a National Government...

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Sunrise money panel review Telecom's reaction to XT failure.

Telecom's shares are taking a hit as the fallout over the XT failures continues.

Another head has rolled over the debacle - technology officer frank mount, responsible for the design and operation of the network, has resigned, and Telecom boss Paul Reynolds has announced a $10 million compensation package for customers.

Experts to be flown in to try and fix our third world phones. North Korea perhaps? LOL

The Government has described the network problems as embarrassing and wants an urgent report on the matter.


Communications Minister, Steven Joyce has warned he will regulate to ensure 111 calls are a priority.

But are we surprised that something like this is happening with a National Government? No, definately not!