Full Show Podcast: 21 August 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The newsmakers and the personalities the big names talk to,
like my costing, breakfast with a Veta, retirement, communities, life
your way, news talk said, be mother, we welcome to day.

Speaker 2 (00:12):
The banks fight back after the ComCom and the government
lay into them. The police had been ignoring a law,
sin laid got a survival plan. The cathedrals off in
christ Church Mark and Ginny do politics after eight Richard
Ardel and see Price Day planing.

Speaker 3 (00:24):
Up as well.

Speaker 2 (00:26):
Pasky into it for Wednesday morning, seven past six. Big
report day for big issues Report number two the Electricity
Authority and power will come to that later on Report
number one. The ComCom and the business of banking. The
market doesn't work. More banks would help. How to get
more banks, how to get less regulation, how to get
better deals for the customer. Firstly, don't hold your breath.
The ComCom has looked into power, petrol, banking, supermarkets. Not

(00:49):
a lot changes. Nikola Willis didn't help yesterday morning when
she said, in response to a perfectly legitimate question about
lending practices, that a bank CEO had said they wait
farms differently from houses in terms of risk. Willis said, well,
they can tell that to the Select Committee, which as
far as I could work out, means nothing. Given I'm
sure they will. Then, when asked about the banking lobby

(01:09):
being powerful, she said they may be powerful, but democracy
is more powerful. Once again, it means nothing. What she
said and was avoiding was the question will you legislate?
And she was avoiding that because she's not legislating the
same way the previous government made a lot of noise
about supermarkets and petrol, but we're never going to legislate either. Instead,
what we got was a sign on the footpath showing

(01:31):
the ninety eight price and a grocery commissioner who so
far is limited to press releases. Here's your trouble. We
have a lot of banks, we just don't use them.
We can switch banks, we choose not to. Yes, the
rules the Reserve Bank has in place to make banks
hold money could be changed, some of the regulation could
be changed, But will it materially fix the market.

Speaker 3 (01:48):
No.

Speaker 2 (01:49):
This, as I always say, is not to defend banks.
Banks are highly profitable, their margins are higher here than Australia.
That's a talking point. But the mistake that is made
almost every time, whether it's banks, supermarkets or petrol stations
or telcas is. The hype never plays out in reality,
the jawboning gets the headlines, the action fades into obscurity.
Let's talk in a year and you can show me

(02:10):
how fundamentally different the banking scene is or not.

Speaker 1 (02:16):
What news of the world in ninety seconds tell you
what it was worth the watch.

Speaker 3 (02:21):
Margure Republic has found out the power.

Speaker 1 (02:23):
Women in twenty twenty two, and Donald Chump is going
to find.

Speaker 4 (02:31):
Out the power women in twenty twenty four.

Speaker 2 (02:35):
Said he won't have had the shades of the State
of the Union, maybe even another time in a younger man.
He was all in. Also, there was another heavy hitter.

Speaker 5 (02:41):
And the other side of that glass ceiling is Kamala
Harris raising her hand and taking.

Speaker 6 (02:48):
The oath of office as our forming seventh President.

Speaker 7 (02:53):
Of the United States.

Speaker 2 (02:54):
Meantime, Donald was on the telly.

Speaker 4 (02:57):
I don't think she's a very bright person. I do
feel that. I mean, I think that's right. I think
I am a very great person, and a lot of
people say that I don't think she's a very bright person,
and you know what, our country needs a very smart person.
I don't consider that it is. So that's just a fact.

Speaker 2 (03:12):
Off the couse of Italy, the recovery operation for the
yachts on the way.

Speaker 3 (03:16):
We've been on site since yesterday morning at the first
light of dawn. We didn't stop diving from yesterday morning
until eleven thirty yesterday evening, and we're continuing to do
further dives from this morning. At six o'clock.

Speaker 2 (03:27):
We've had a rocket blow up in shipland.

Speaker 8 (03:29):
One of the mainly positives that came out of last
night was that all our protocols and procedures that own
place to protect human life, you know, worked and I'm
very proud of the way that our team performed.

Speaker 2 (03:43):
A lot of good learnings from blowing stuff up. Anyway,
it was a warm up to the real launch, so
hopefully they get it together. Anyway, more on the ICT
BID four seven eleven.

Speaker 9 (03:51):
We're accelerating our overseas expension. In April we completed the acquisition
of seventy eleven Australia and it's seven hundred and fifty stalls.

Speaker 2 (04:02):
Finally, you study scientists at Stanford have followed participants for
years to observe aging changes in the molecules. In other words,
how do we aige Well, they found out We don't
age gradually, possibly not even gracefully. Instead, we are pretty
good until we're forty four. Then the old molecules age
much faster than they have been doing previously. Next up
is sixty when they speed up again. Here's the world

(04:24):
in ninety. Hey, you're ready to party on this morning.
You're ready for some big, hot, vibrant, super exciting economic numbers.
The dairy auction is in stand by eleven past six.

Speaker 1 (04:36):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio powered
by News talksp.

Speaker 2 (04:43):
Right Fun fact time. A gold bar is normally four
hundred troy ounces, and if gold hits twenty five hundred
dollars per troy ounce, if you have a gold bar,
it's worth a million dollars. The significance of that A
gold bar has never been worth a million dollars until now.
Gold's up twenty fe fourteen per six A done Furst
and dark So done?

Speaker 3 (05:04):
Ok?

Speaker 2 (05:05):
Jay am I Well? Andrew Keller her, good morning, very
good morning. How about that auction?

Speaker 10 (05:11):
What a cracker?

Speaker 2 (05:12):
What a cracker of a global dairy trade auction?

Speaker 11 (05:15):
Overnight so at the headline level, global dairy trade price
index has lifted five and a half percent. Now that's
a bloody good shunt in a single auction.

Speaker 2 (05:24):
Shall we to be crude?

Speaker 11 (05:25):
Shall we say that? So it goes a long way
to reverse the shop fall of six point nine percent
and the second of July auction. But we'll just consign
that to memory, now, shall we, although we shall note
the volatility. Good result based on a strong bounce and
skim milk powder and whole milk powder, so four percent
rise and skill milk seven point two percent, right, seven
point two percent rise and whole milk powder. So they're

(05:48):
the key commodities. Are good supporting roles from mozzarella, God
love mozzarella up five percent and butter three point seven percent.
Very helpful, I would have thought for Fonterra and the
forecast farmgate milk price. Here's the question, Mike. You've got
the start of an infrastrate easing cycle. You've got strength
back into the important commodity markets. Will the third quarter

(06:09):
of twenty twenty four be the economic nadia, the celestial
economic nadea of the New Zealand economy? Is this the
darkest point before dawn? Well we'll have to wait and see,
but I could get excited about that.

Speaker 2 (06:21):
And I can hear a new voice already took me
about housing because I think there's a little bit of
life there potentially by the end of the year as
well well.

Speaker 11 (06:29):
I think you're right in terms of putting that out
a little bit, because it's timely to review the residential
property market. So we get the monthly data release from
ARII and Zah, we got that yesterday, We've got that
fall in the OCA ringing in our ears, and we've
got to validly ask the question whether it'll be enough
to start a change and sentiment towards the local residential
property market property investors out there. I suspect we'll be

(06:50):
quietly waiting to see that change in sentient. I think
it's still a bit premature. What's the data telling us
number of house sales increase to sharpen the in July,
but that fall follow a big fall, a big slump
in June. There's a small different house price index, the
important indicator days to sell that tick up a little
bit for the month, sales rowse just under twenty percent,

(07:11):
which sounds quite dramatic, doesn't it. But if you look
at the annual movement in the three month moving average.
The sales volume says very slightly down on the same
time last years. That's smoothing out the month to month volatility.
House price index raw data down point three percent month
on month. Seasonally adjusted, it drops to maybe minus point
five compared to a year ago. There's zero point two

(07:32):
percent higher on the index, so no move there. Really,
sales remain below the historic average for this time of year.
Days sell at forty nine. That's up one day, and
that's historically pretty high. Although I would note auction clearance
rates in Auckland they've lifted in the last couple of weeks.
That's a positive sign. My comments Mike, interest rates are
only one factor for the housing market.

Speaker 2 (07:52):
They're an important.

Speaker 11 (07:53):
One, but there are only one. You are going to
see the unemployment rate increase over the next few months.
You've got a weaker labor market.

Speaker 2 (08:01):
That's a headwind.

Speaker 11 (08:02):
Affordability that continues to be pretty relevant, that's a headwind.
I think it could be a few months before we
see a demonstrable evidence of a changeing sentiment, but not
impossible that you'll see that. Agents out there will no
doubt be calling that earlier.

Speaker 2 (08:16):
I'm calling off Turber and November now back to reality.
So the ap port. So when Winstone don't open because
they don't have any power and they can't afford what's available,
then you've got problems you have.

Speaker 11 (08:27):
So higher power price is low late levels in the
South Island, this is problematic. You start to ask questions
about our ability to sort of export competitively if the
power price.

Speaker 3 (08:36):
Is so high.

Speaker 11 (08:36):
So another victim of high power prices. Napier Port actually
revealed this yesterday of an announcement to the x X
about Big carga customer Winston Pump International. They advise the
port they're considering a proposal to cease all New Zealand
manufacturing operations indefinitely, i e. Shut a consequence of unsustainable
unstainable energy prices that of course affects volumes through the port.

(08:59):
Winstone Wolp International got a couple of manufacturing facilities doing
timber pulp products in central North Island. Potentially two hundred
jobs affected. This is tough for a region already percent
with challenges.

Speaker 2 (09:10):
I just want to make the point here, Mike.

Speaker 11 (09:12):
Businesses can hedge against short term volatility in their power prices.
Most businesses do. Windstone had been doing this but they
said it had become too expensive to actually even hedge.
I think only a very small proportion of businesses are unhedged.

Speaker 2 (09:29):
I don't think this is an endemic issue. Hope, you're right.
What are the numbers?

Speaker 11 (09:34):
The Dow Jones is down, It's only down ten points,
it's barely moved, really, forty eight hundred and eighty six.
The S and P five hundreds down eleven. That's about
point two percent five five hundred and ninety six, and
the Nastak is down small as well, twenty three points
seventeen thousand, eight hundred and fifty three.

Speaker 2 (09:50):
Overnight.

Speaker 11 (09:50):
The Footy one hundred lost one percent eight to seven three.
The Necka bounced back after the Big four, so it's
up one point eight percent thirty eight thousand and sixty two.
Shanghai Compost was down about one percent to sixty six.
The Aussi's gained point two two percent yes Day seven
nine nine seven, but the nz Sex fifty was week
fell one hundred and four points twelve thousand, five hundred

(10:10):
and fifty eight. Kiwi Doll Kiwi dolls holding it remarkably
well in a falling interest rate environment. In New Zeale,
point sixty one four six against the US point nine
one two one ossi point five five to two nine
euro point four seven two zero pounds eighty nine point
four two against the Japanese y. And as you said,
Mike Gold two thousand, five hundred and ten dollars of
good for all the gold bugs out there, and Brent

(10:31):
Cruit also behaving itself seventy seven dollars and eighteen cents.

Speaker 2 (10:35):
We'll take it, kelliher Jmowalth dot co dot m Z
further enhance our reputation internationally economically speaking, Fit, you've come
to the party where they've performed our double A plus
credit rating, voter confidence in the government, basically robust government standards,
policy framework. Essentially, what they're looking at is are we
ever getting back to surplus? Will it stabilize and will

(10:55):
we then reduce the government debt to GDP ratio on
the medium term? Yes, we will. And because they've seen
and that, they'll take it and tick the box. So
we'll take that as well. Six twenty your Hused Talk
set B.

Speaker 1 (11:09):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talk set B.

Speaker 2 (11:15):
Mike real estate Agent here has been busy here in
Hamilton last six weeks. Too early to say a pickup
is here as I think the surge is due to
long looking first home buyers. I tend to agree, and
I'm not sure people are moving house to house upgrading yet.
But happy days, Andy. Thanks for the update. I'll tell
you what is interesting. Came out overnight from Britain Barclays, Haliflex, HSB,
Halifax HSB and nat West. You can get a five

(11:37):
year fixed under four percent in that part of the world.
Bank of England started cutting and you can directly compare
them to us because they've only just cut and we've
only just cut. And the question is doesn't materially move
the market, And the answer appears to be yes. It's
led to a quote unquote immediate upturn in buyer activity.
So all it took there was a twenty five point
cut and they're off and running. It'll be interesting to

(12:00):
see whether or not they we see the same thing.
He meantime, back at the convention in Chicago, Harris is
talking about raising the corporate rate to twenty eight percent.
One of the interesting things about that is one Trump
is the opposite, of course, so you've got a genuine
policy difference that you can think about if you're an
American voter. But think about that corporate rate being raised
to twenty eight percent, Ask yourself what our corporate rate

(12:20):
in this country is, and you wonder why we're not
particularly competitive. And then we get RFK this morning. I
don't know what to read to our RFK because he's
as crazy as the rest of them. And then we
come to his running mate, which is a woman called Shanahan.
To Cole Shanahan, she's claiming this morning that their campaign
is considering abandoning the whole thing and joining forces with Trump,

(12:44):
which would, if that happens, materially change the market and
in a fairly significant way, I would have thought. But
then having said that, she then said they're also considering
not abandoning the campaign and trying to win more and
five percent of the popular vote and establish ourselves as
the third party. So I don't know where they're at.

(13:06):
Just pleased to non American six twenty five.

Speaker 1 (13:08):
Trending Now with one square house, you're one start for
Father's Day.

Speaker 2 (13:12):
Fragrance is now. Matt Garbett is a Kiwi footballer. I've
never heard of him, but he plays in the Dutch
side neck braider. He's being interviewed by a former footballer,
a bloke called Hans Kray. Actually it's Hans Cray junior
after the match yesterday. Hans has got no idea who
he's talking to, a no idea. This sploke's a Kiwi.
Therefore what language he might be okay at?

Speaker 11 (13:31):
It comes down, you know, performances come down to the environment.
And we've got a good culture hair building that knock
and I'm hoping that we can continue here.

Speaker 8 (13:38):
So thanks lot, and you speak good Anglish.

Speaker 4 (13:41):
Yes, appreciate it and.

Speaker 2 (13:46):
Quality operator come back to this because they don't have
much time at the moment, but how is it possible?
And there's another reporter yesterday from the EA. So if
you're worried about the banks, we're talking to the banks
after seven o'clock, by the way, But we also had
a report out on the pawsageuation, which is I would
argue the power situation in this country is vastly more
critical than whatever you may think about banks. So the

(14:08):
EA comes out yesterday with their report and they go, look,
things aren't ideal and this gentail thing is not that
flash anyway. At the same time, this happens. Mercury comes
to the party yesterday, their net profits up by one
hundred and fifty nine percent. Now, there are some extraordinaries
in there, I will grant you that, but very very
difficult to be a power operator in this country lift

(14:30):
your net profit by one hundred and fifty nine percent
while at the same time sending the power bills out
to you and I the way they are, and you
go cool, I'm so pleased they've made a one hundred
and fifty nine percent increase in profit. Doesn't gel well
while you can't afford your power. Winstone's closing down and

(14:50):
they're saying, nothing to see here. The market's fine, thank
you very much. I mean, come on, then we come
to Sinley and milk in the dairy industry. I have
news for you on that shortly as well.

Speaker 1 (15:02):
The breakfast show you can trust the mic Hosking Breakfast
with the range Rover Villa designed to intrigue and use
togs dB Mike.

Speaker 2 (15:11):
Here what you say about Mercury Energy. But on the
other hand, there's a number of texts about this. As
a shareholder, dibit it only gives a three percent return
on current share price. Would you invest that rate. John,
you make a point, and I was being slightly facetious
for a reason. I had more to say before seven thirty,
and that is this, you've got to invest in renewables,
and someone like Mercury Genesis, all those people, all the
gent tailors will tell you they are investing in renewables,

(15:31):
and so you need to make the propit. My point
overall being that we jawbone a lot of stuff in
this country, and we jawbone the banks and we jawbone
the power companies at the moment, and there are faults
in both industries, and they could be ironed out if
we had proper tutelage and leadership in this country. We
don't necessarily seem to. But a lot of what people
think is going on in any given market isn't a

(15:53):
lot of the fixes that are talked about aren't realistic,
and that's fundamentally why things don't change. Twenty three minutes
away from seven, back to Chicago, Richard Arnold. Of course,
with the Dems, they've got the obamers rolling into town.
Michelle followed by Baraka.

Speaker 12 (16:07):
Tell you what.

Speaker 2 (16:08):
As far as speakers go and performance go, it was
a pretty good opening day, and of course are the
big days priorday our time when the acceptance comes from
Carmla Harris, who surprised everybody when she jumps on stage
yesterday a little bit early. Anyway, that's shortly time for
sin Lay update. We may have a lifeline China's Bright Gary,
who already owned thirty nine percent. If you followed this story,
they could end up taking two thirds of the company.

(16:29):
Shareholders are going to have to vote on this. It's
a recap plan and they'll do this in about a
month's time. Sindlay's board chair George Adams is with us. George,
very good morning to you.

Speaker 3 (16:38):
Good morning.

Speaker 2 (16:38):
Make you enjoying this. This is a fun time for you.

Speaker 5 (16:42):
Yeah, it's certainly providing lots of entertainment.

Speaker 2 (16:44):
Make the a two thing. Did we come to this
particular conclusion mutually? We're all happy now or not.

Speaker 5 (16:52):
We're all very happy.

Speaker 10 (16:53):
Make good.

Speaker 2 (16:55):
That's sorted once and for all. Bright Dairy. If they
end up taking two thirds, do they see what others
don't or are they just locked in? They got to
do something to save themselves.

Speaker 4 (17:07):
Right.

Speaker 5 (17:08):
A very interesting company. It's very old company and I
think like many of our farmers, they would describe themselves
as well as intergenerational investors in Derry. So when this
company was brought on as a shareholder in twenty ten,
I believe they were very keen that they were there

(17:28):
for the long term. And so that's what we've got,
a very long term committed Sure.

Speaker 2 (17:35):
If you are used to lead your funds dropped down, yes,
I am oh good. Sorry the banks and where they said,
are they happy with the way things are going?

Speaker 5 (17:44):
The banks are yeah. So I mean as part of
our as part of our deliveraging the we had to
essentially completely refinance the business. So that's in process and
we have committed facilities from our banks as we speak,
which some Texas through for another for another year.

Speaker 2 (18:00):
There or does their view and the deals you have
with them, are they contingent in any way, shape or
form on what bright there we may or may not
end up doing.

Speaker 5 (18:09):
Yes. So essentially we have a capriage from break capbrias
from A two, and we've got the bank refight and
all our intercontingently. So you know, we're we're working hard
to make sure that everything happens on the same day.

Speaker 2 (18:22):
And where do the farmers in the contract sit?

Speaker 5 (18:26):
So the farmers essentially put us on notice, as you
will know, and what they were telling us, and I've
spoken to a lot of them, is that essentially they
would they would they wanted our advance rates to match
them the market. We were probably behind a big ten
percent last year and they wanted the balance hea deleverage
for security. So we've matched the advanced rates this year
and this is the deleverage that they'll be looking for them,

(18:48):
So I think they'll be considerably more comfortable to start
with throwing cease notices.

Speaker 2 (18:53):
Once this is done, fantastic And if the ones who
have left or going to leave, could you change their
minds or could you bring people pull back on board
if this thing goes ahead? In other words, could you
solve a problem?

Speaker 3 (19:04):
Yeah, we could.

Speaker 5 (19:05):
I mean we haven't had any substantial even minor volume leave. Frankly,
people have to give us a two year cease notice.
So at this stage it's a look. I mean, I
think it's a message to the to the board of
the business. You need to sort your stuff out and
once you've done that would be good. So genuinely, we
have a group of very loyal farmers and over time

(19:27):
they've actually done pretty well, forcingly and biasonally, so I'm
really thrill filled for them.

Speaker 2 (19:32):
I know which way you want the vote to go?
Will it go that way? Hand on hat?

Speaker 5 (19:37):
I don't know.

Speaker 13 (19:37):
Heard.

Speaker 5 (19:38):
Look, I think I think the vote that and again
they're all contingent on each other. So I think the
vote for for for A two will go well because
clearly Bright or the majority of the voting on the
other side, the vote for the Bright one I think
is going to be closer. So it's certainly you know,
a too of indicator they'll support it. So they're a
third of the vote. So it means that essentially it's

(20:00):
still hangs in the balance with our shareholders and as
they did last month, one hundred and thirty million long,
they came out and they voted, so it is genuinely
in their hands and might encourage them to have their say.

Speaker 2 (20:11):
If it doesn't cross, is it over for the company?

Speaker 5 (20:17):
Well pretty much, pretty much.

Speaker 2 (20:19):
Yeah, good luck with that one, George, appreciate your time.
George Adams sin Lay board chair. It's been a fascinating
story to follow the votes and dunsandal in a in
about a month's time, eighteen minutes away from seven pasking
speaking of people in trouble Boeing. They've got this new
plane called the Triple seven X. You know what the
Triple seven is. The ex is just a bit of extra.

(20:39):
The extra is not going well because they've they've been
doing some testing. First of all, they were supposed to
rather as playing out in twenty twenty. You'll note, I
assume that you realize it's not twenty twenty, it's in
fact twenty twenty four. So things are running a bit
behind schedule. Not immediately clear whether the problem will delay deliveries.
Here's my bit it will. So anyway, despite everything, they

(21:03):
still haven't quite got it to.

Speaker 9 (21:04):
Get it's trying to think that people should stop calling
things X.

Speaker 10 (21:07):
Yeah.

Speaker 2 (21:08):
And I think also they've probably still got those two
people stuck up in space at the moment as well.
So quite a bit on the plate. Seventeen too, The.

Speaker 1 (21:15):
Mic Hosking Breakfast Full Show podcast on iHeartRadio, Power It
by News Talks.

Speaker 2 (21:20):
AP Mike, how is it we can have a law
breaker of sitting in our parliament? Surely this thing is wrong.
Darlene Tana needs to be removed. It cannot be up
to her whether she stays or goes it's fascical. First
of all, I'm pretty sure I'm correct and saying there
is no law that's been broken. There's a report that
hasn't been released that may or may not indicate some
sort of activity, but as far as I know, no
one else is looking or no one else cares. So

(21:41):
she's allowed to be in Parliament unless they invoke the
walker jumping law, which I'm assuming they will, but they've
got to sit down and have a meeting about that.
So anyway, the thrill of the morning, I'm here to
tell you a highlight of my forty two year career
is Darlene Tana is going to be on the program,
probably against my better will, after seven point thirty fourteen to.

Speaker 1 (22:05):
Two international correspondence with ends an eye insurance, peace of
mind for New Zealand business.

Speaker 2 (22:11):
Why's that, credrickd Arnold morning I enjoyed yesterday.

Speaker 12 (22:16):
Yeah, it was certainly emotional, dramatic. Now he could be
in the throes of a floor fight at the convention,
but instead what is playing out is something we haven't
seen before. Typically, when presidential wannabe is from the same
party are competing, it's a battle of the venue. I
think of Donald Trump and Ted Cruz twenty sixteen, when
Cruz was booed ferociously by Trump's supporters. I was in

(22:36):
the hall at the time. It's pretty scary. Hillary Clinton
battled Bernie Sanders down of the wire same year. In
nineteen eighty eight, Jesse Jackson challenged Michael Ducoccus and deals
had to be done. Or there was Jimmy caunterfeiting off
Ted Kennedy in eighty That's how it usually goes, except
in this case, where Joe Biden stepped aside for Kamala Harris.
There are still reports that Biden is privately unhappy, but

(22:58):
as he left the convention arena last night, Biden was
pressed about that and said no one made his decision
to quit the race but him, and there was certainly
no sign of faltering during that big speech last night,
thank you, signs of real love you, Joe and Chance
that rose up to the rafters brought a tear to
the President's eyes, it seemed, But he also spoke in

(23:21):
full support of Kamala Harris. Then he turned to Trump
in what seemed to be his most blistering anti Trump's
speech ever.

Speaker 4 (23:27):
He says we're losing, He's a loser.

Speaker 2 (23:30):
He's dead wrong.

Speaker 12 (23:31):
Yeah, this brings us for another regular political theme. Do
you focus on pessimism or optimism?

Speaker 13 (23:37):
Lately?

Speaker 12 (23:37):
Trump has been reviving his old tune of American carnage
and all of that in the comments that he's been making.

Speaker 4 (23:45):
We are a nation in decline, we were a foiled nation.

Speaker 12 (23:48):
Well, that wasn't the vibe last night, was it? And
Hillary Clinton, I guess encapsulated some of that.

Speaker 14 (23:53):
This is our time America.

Speaker 11 (23:56):
There says when we stand up, there says when.

Speaker 7 (23:59):
We right through, the future is hair.

Speaker 4 (24:03):
It's at our lads goal.

Speaker 3 (24:07):
Well.

Speaker 12 (24:07):
Biden took on specific issues where Republicans have been leading
in the polls, while crime, he set, has dropped to
the lowest level in fifty years. On immigration, he noted
that Trump killed the strongest bipartisan border the Liver and
since then, as a result of his presidential action, Biden
said border encounters are lower now than when Trump left office.
On the war in Gaza, Biden said specifically he has

(24:28):
sympathies for Palestinian protesters in Chicago and elsewhere in call
for an end of the war and a surgeon aid
for Gaza. That was pretty direct. Former Trump white House
Press Secretary Stephanie Grisham will speak at the Democratic Convention tonight.
She split with Trump after his role in the January
the sixth Riots. Meantime, former Trump Chief of Staff and
retired Marine General John Kelly today is slamming Trump's latest

(24:51):
claimed that the Presidential Medal of Freedom for civilians is
better than the Middle of Honor for the military. Not
even close, says Kelly, who says Trump called military vets
who died in France suckers and losers. Here's what Trump
said about the honor given to Miriam Adelson, the wife
of billionaire Trump donu.

Speaker 4 (25:10):
It's the equivalent of the Congressional Medal of Honor, but
civilian version. It's actually much better because everyone gets the
Congressional Medal of Honor. That soldiers they're either in very
bad shape because they've been hit so many times by bullets,
or they're dead. She gets it, and she's a healthy,
beautiful woman.

Speaker 12 (25:31):
A lot of those military awards are given posthumously for
troops who had put their lives on the line deliberately,
like retired Army Colonel Jack Jacobs, the Medal of Honor
recipient whose battalion came under heavy machine gun fire and
mortifier in Vietnam, Colonel assuming command, then setting up a
defensive line despite his own head wounds, which had his

(25:51):
face covered in blood. Then he evacuated a seriously wounded
advisor and gave life saving first aid to that man.
He then returned for repeated trips through the firing line
with shots flying around his head at every second, and
saving fourteen other individuals.

Speaker 2 (26:07):
See you're Friday, mate, appreciate it. Richard Arnold stateside the
introduction to Biden from his daughter was I thought exceptional.
Steve Kerr, who's the Golden State Warrior's coach. I was
surprised to see him there, but he was and a
former bull, of course, Chicago Bull. The conventions being held
in the Chicago Bulls Arena, so he was very very good.
Probably a little bit too much aggression if you worry

(26:28):
about Trump being aggressive. A lot of Democrats are very angry,
angsty sort of people. Is a bit too much of that, probably, Santos.
By the way, just before we leave America, George, remember him.
Krook somehow found himself and got voted in into the
House of Reps. He pleaded guilty yesterday. They cut a deal.
He was going to jail for a very long time.
So we've got to get the actual sentence minimum two
years and maximum twenty two years, and he's got to

(26:50):
pay back several hundred thousand dollars. But he was wandering
around the hills of power till they officially booted him out,
the first person ever to be booted out. Anyway, he
cut a deal. Est today, nine minutes away from seven.

Speaker 1 (27:00):
The make hosting Rapist with Bailey's real Estate Hu's Talk Sidney.

Speaker 2 (27:04):
Stupid, a story of the week has been sorted. This
is Disney Bloke's wife dies Jeffrey Piccolo. He's at Disney
World in Florida. She has an allergic reaction to some
food in the restaurant. He goes to sue them. They say,
hold on, buddy, you signed up to Disney Plus in
twenty nineteen. Read the fine print, and if you sign
up to Disney Plus, you can't sue us in court.

(27:25):
You've got to go to arbitration. Everyone goes what anyway,
So we believe quote unquote they've said this overnight. We
believe the situation warrants is a sensitive approach, no kidding.
Probably some lawyer's got to them to say, you guys
are idiots, stop making fools of yourself and do something
about it. As such, we've decided to wave outright to arbitration.
So no arbitration. They're going straight to court. Mister Piccolo

(27:46):
is going to get his day in court. I don't
think he's gonna win, but at least you'll get his
day in court. Five away from seven.

Speaker 1 (27:54):
Well, the ins and the outs, it's the fizz with
business favor. Take your business productivity to the next level.

Speaker 2 (28:01):
John on the Farm talked about soon lay. We've got
numbers from beef and lamb stats on stock numbers. Survey
shows are dropping both the sheep and the cattle numbers.
So sheep numbers are down four point three percent. We've
got twenty three point three one million sheep in this
country are breeding us a down two point nine percent.
Trading sheep stock numbers are down seven point nine None
of us is good. The decline and use and the
lower expected lambing number are The lamb crop has estimated

(28:24):
to drop by four point eight percent as well. That's
a million, Just like that, that's a million sheep beef
not a lot better cattle numbers are down two point
eight over all South Ireland seven point one and that's
the drought of course, in the rain in Canterbury, so
you don't need cows. See recently, what was happening is
the stock numbers dropped as a result of converting farms
into forestry, which is another debate in and of itself,

(28:46):
and I must get around. I read a fascinating piece
about solar on farms and there's real angst in Australia
at the moment about that sort of thing on farms
and a lot of people like Barnaby Joyce hate and
they don't want windmills and they don't want solar pace.
And yet the report, I said, says it's nothing but
good for the farmer. But anyway, that's for another day.
So normally you'd get the conversion from land to forestry.

(29:08):
Nowadays you're getting it. You can't make any money from
a sheep, whether it's wool or meat, and then it
doesn't rain anyway, so that's why we're de stocking basically.
So it's all unfortunate. While we're seeing some shoots of
light in certain parts of the economy, the old farm
business is still a difficult one which brings us nicely
to banking because one of the things the government is

(29:31):
particularly concerned about is the way the rural community is
being treated by the banks in this country. It's part
of the com Kong report yesterday. So between the ComCom
yesterday and Nicola willis lining themselves up, the bank's got
a beating. So the banks fight back this morning, and
it's going to be interesting to see where this thing goes,
if anywhere. As I suggested earlier on this morning, it's
probably going nowhere material. But nevertheless, Antonio Antonio Watson is

(29:52):
the head of the head of the A and said
she's with us in the next half hour of the
program Politics Wednesday as well after eight o'clock this morning,
Mark Mitchell and Ginny and meantime News is next. The
News Talks HEADB.

Speaker 1 (30:06):
Big News, Bold Opinions, the Mic Hosking Breakfast with Bailey's
Real Estate, your local experts across residential, commercial and rural
News Talks HEADB.

Speaker 2 (30:16):
On seven past seven are what to do with the banks?
The ComCom reports reasonably clear and the Finance Minister ran
with it.

Speaker 15 (30:24):
They lack innovation and they do not aggressively compete for customers. Instead,
competition resembles a cozy pillow fight.

Speaker 2 (30:33):
Government has accepted all fourteen recommendations. Chief Executive of the
A and z Antonio Watson's with us good morning to you.

Speaker 6 (30:39):
Good morning Mike.

Speaker 2 (30:40):
How much of what the ComCom seed yesterday is accurate
in your view?

Speaker 6 (30:45):
Well, they've made fourteen recommendations and they're really sort of
recommendations are based on a lot of work they've done
over the last year, and we're broadly.

Speaker 7 (30:52):
Supportive of them.

Speaker 6 (30:54):
What I would disagree with is their characterization of the
sector is uncompetitive. I think I stood in front of
of our staff and say, how competitive do you think
it is out there? And they are fighting every day
to win and retain customers and have been since since
eighteen forty. So we really back ourselves that it's a
competitive industry. And also the characterization of profitability is yes, look,

(31:19):
we are amongst the more profitable banks in the world,
but we have to look at who we're comparing ourselves to.
We're comparing ourselves to banks and countries where they're earning
well below cost of capital, sometimes below the New Zealand
ten year government bond rate, which is a which you
call a risk free rate. We unfortunately in New Zealand. Gosh,
I mean, I'd love for us to be a key
we owned bank, right, I think we'd all love that.

(31:42):
But we can't afford to own our own banks. So
we need the attract offshore capital, and so we need
to provide a return that in our case is modestly
above our cost of capital.

Speaker 2 (31:50):
Let me come back to the capitalization a QI bank
in just a moment, the fact you couldn't argue your
case to a point that the ComCom said, sorry, we're wrong,
and you are right after all? How come you couldn't
get that across the line.

Speaker 6 (32:01):
We tried really hard, Mike. I think we're looking at
different things. We're looking at we're saying, you know, absolutely
you look around the world, we are among the more profitable,
and that to them is a proof that there isn't
competition to us. That's evidence that we've got strong, stable
banks that we need to have to be able to
track that strong capital here and to be able to
support the que economy.

Speaker 2 (32:21):
If you capitalized qubank to whatever extent, by whatever means,
would it make a material difference.

Speaker 6 (32:28):
Look, we welcome any competition. We back it like you do, Mike.
We back ourselves to work against against all competitions. So
if that is an outcome of this of the study,
bring it on.

Speaker 2 (32:39):
Here's here's where I walk along because I'm just a punter.
I look at your profit, I look at your margins.
Your margins are higher here than they are in Australia.
I don't like the look of that. You would counter
that by saying, Adriana has got too many rules? Is
that fair?

Speaker 1 (32:51):
No?

Speaker 6 (32:51):
I would counter that by saying, I'm so glad you
asked that question, Mike, because I just want to do
some misbusting here. In the first half of the year,
our parent A and Z reporter one point five six
percent margin. That was for the entire A and Z
business all around the world, thirty countries, including in particular
our institutional and markets businesses. Commentators who probably should have

(33:13):
known better were comparing that to the number that they
disclosed to New Zealand, which was two point five six percent.
So the yes, that sounds like a big difference. The
two point five six percent is for our let's call
it our consumer and our privately owned business segments. If
you compare that to the same segments in Australia which
are publicly disclosed. Their combined margin is two point five

(33:35):
to two percent. So there is a very small difference
in margin that will fluctuate over time. But we're not
talking about the numbers that were being talked about back then.

Speaker 2 (33:43):
Okay, let's accept that what you're saying is correct, and
you'd put me in the commentary in that because I
got that wrong. Of what you've said is just correct.

Speaker 6 (33:51):
You were listening to people who were commentating about it.
I don't blame you for that.

Speaker 2 (33:54):
Okay. So you can't convince the government, and you can't
convince the ComCom You probably can't convince a lot of
punters who see hundreds of millions of dollars in profit.
What do we do.

Speaker 3 (34:06):
Well?

Speaker 6 (34:06):
The comments Commission made fourteen really sound recommendations. Let's let's
give them a shot. As I say, we welcome more,
we welcome more competition in the sector.

Speaker 2 (34:15):
Do you think anything material will actually come out of this?
And what I mean, what does it look like? See
all the reading I'm doing, for example, on open banking
in Australia in theory. Fine, do it if you want to.
I don't care. It doesn't work. It hasn't worked. People
don't swap between banks for fundies. It doesn't make a
material difference. You guys compete on money. The money is
the money. I just don't see where any of this goes,
apart from having them yet again a big gab fest.

Speaker 6 (34:38):
Well, one of the good things that one of the
advantages we have in New Zealand and being and being
a fast follower on open banking is we can look
at what's worked elsewhere in the world and do things
that really make sense for customers. You know, and some
of the other countries that implemented open banking. You need
to think, what are the use cases that customers want
to do that want some easy payments, they want to

(34:59):
be able to have bet at budgeting tools, all those
sorts of things. How can we make our open banking
work so customers find it really valuable? And I think
that's an opportunity that we have.

Speaker 2 (35:09):
Will if I get you back on the program in
a year two years, will things be different that we
can all see? Or you don't think so?

Speaker 6 (35:16):
Well, I still beck ourselves to be the largest bank
in New Zealand. I'm really proud of that.

Speaker 2 (35:20):
You but that's not about me. It's about you, and
good on you for being that. But I'm saying, will things.
Will I be able to look at the banking system
in this country and go, oh, thank god we had
a ComCom report, thank god we had a government did
something about it or not.

Speaker 6 (35:32):
I think you'll be able to look at open banking
and see material progress on it. And I think that's
a really good thing. What they do with things like
quwibank regulation, that's not up to me. So you know,
we may success and change here. It's a really hard
position for regulators to balance that competition versus safety and
security of the banking system, so I don't enviy them.

Speaker 2 (35:51):
Okay, nice to talk to you. Appreciate it very much.
Antonio Watson, who's the A and ZED CEO. Thirteen minutes
past seven. I'll get this point before I forget. One
of the things the government argued today is what we
want with this open banking. Open banking won't work. And
you know why it won't work because we've got open
electricity movement in the electricity market. You've got people changing
companies left, right and center. It's not hard to change
an electricity company and people are fabulous. Has that made

(36:14):
the electricity market workable.

Speaker 1 (36:16):
No.

Speaker 2 (36:17):
On the same day they were telling us how if
you could just swap banks, it would make so much difference.
They put out another report on the power business where
you can swap companies and it's made no difference. Joined
some dots thirteen past seven Sky. So it turns out
that the police have not been enforcing the law that
bans smoking and vaping in cars with kids. So three

(36:38):
years after the law was passed, no finds have been
handed out. What's going on here? Chris Carhill of the
Police Association with US, good morning.

Speaker 10 (36:45):
Good morning, mind.

Speaker 2 (36:46):
Did you do this deliberately or not?

Speaker 10 (36:49):
I think probably deliberately you pass the silly law. It's
probably going to get ignored to a degree. I think
it's prior from police. It's a priority point of view.
They can't do everything, and this probably creately fell up
a priority list. But then it's going to boil down
the individual officers who have discretion, and I suspect most
of them again to find there's much more important things
to do with how I think this is a priority.

(37:10):
Perhaps they should get out and spend their time and
money on educating people, and they want to they can
pick up the mental health.

Speaker 2 (37:17):
So what I want you to do is pull over
the car, check the license, check the warrant, check the drugs,
check the drink. Then you get get to checking the vaping.

Speaker 10 (37:24):
Is that how it exactly? I mean, please have to
What do you want us to do? You want to
three point three million breast screening tests? Do you want
us to please the gangs? Do you want us to
do the retail crime, the boy racers, you know that
walk the beat and Auckland. Please can't do everything, and
they've clearly decided this isn't a priority. I think when
this law passed, I said at the time, it's a

(37:45):
stupid law. It's not what police should we get involved.
Down to us, you've got un issue was smoking and vaping.
You deal with it as a house issue, not as
a policings So ironic.

Speaker 2 (37:53):
I thought too that you've taken a health approach to it,
and yet the Greens would, who were part of the
last government to a degree, would I argue you should
take a health approach to cannabis as well. So they
want you to enforce vaping but not enforce cannabis. Where's
the logic in that?

Speaker 10 (38:08):
That seo logic it just doesn't make sense. And look,
the one thing I do everything turns about these laws,
wouldn't be wouldn't be a fine started getting dissed out.
I guarantee you immediately will get issues around the equity
who's getting given the sign and it will be the
whole dispute that police aren't being could or in the
way they operate with those times. It's not the answer.

(38:28):
It's not going to help these people give up smoking
and give up vaping.

Speaker 2 (38:33):
No, would you do them for texting as well? So
you can get them for vaping, texting, drink drugs warrant license.
Then you could hop in the back seat and give
them some child advice and education advice at the safe.

Speaker 10 (38:46):
Yeah, and then when they talk about the mental health
issuers will sit down and give us a captive to.

Speaker 2 (38:52):
Here only Chris nice to talk to your Chris car
Hill Police Association President. It is sixteen past seven, asking, No,
we got to go to an ad because I've been
talking too long, Glen, It's been going on and on
and on to the whole programs out of control. I
need to buckle up and redeem myself.

Speaker 1 (39:09):
The like asking Breakfast Full Show podcast on I have
radio powered by News Talks at.

Speaker 2 (39:15):
B It's eighteen past seven. Our quick question for you,
is it the media's job literally to report idiocy? In
other words, in this country? Can you say anything you
like that, no matter how inherently stupid it is, you'll
get yourself a headline. I cite the headline and the
Herald this morning. Northland Maury leader Peter Tiffany, who's been
around forever, calls on Prime Minister to sack Act from

(39:37):
the coalition. Now just think about that for a moment.
This is all to do with the Treaty Relations Bill,
of course, which doesn't even exist yet. So if Christopher
Luckson takes a device and goes and sacks Act, what
then happens? They don't have the numbers to run the
country anymore. So really it's sort of not going to
happen as it, it's probably not worth reporting, just my view.
But speaking of Crystal Luxon, he speaking to the local
government people today and I hope he sticks it right

(39:59):
up them, whether sun don't shine. The message he is
sending them allegedly is pull your head and stop spending
money like this no tomorrow, because not even your money.
And if you're going to do charge on average, councils
in this country. On average, councils in this country are
charging fourteen percent more for rates this year. And he's

(40:20):
going to tell them, I hope forcefully do not charge
fourteen percent more. Then come whining as well to central
government for even more money. He will tell them this
in the Tarquina Convention Center value one hundred and eighty
million dollars spent by the Wellington City Council when really
they should have been spending money on I don't need

(40:40):
just let me quit pipes, So spend the money on
the pipes, not the convention center. Is the Convention Center
doing well?

Speaker 5 (40:46):
No?

Speaker 2 (40:48):
Is it behind budget yes? Is it making the sort
of money they thought it would know? Are the pipes
leaking yes? Are the rates going up a lot and
Wellington yes. Have they whined to the government to get
more money.

Speaker 7 (40:58):
Yes.

Speaker 2 (40:59):
So let's hope that goes well for him and my hope,
my perdant hope is some of them in the room
actually listen to it and do something about seven twenty.

Speaker 1 (41:09):
The Mic Asking Breakfast Full Show podcast on iHeartRadio call
it by News Talk.

Speaker 2 (41:15):
Zeb right Father's Day just around the corner Real House
of Fragrances of course his Father's Day Chemists Warehouse, Every
Father's Day Chemist Warehouse head and store online. Stop paying
too much? What we got? What have we got? We
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It is all on for Father's Day. The savings are
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pasking sev to twenty four. SOIR Report number two came
to us from the Electricity Authority, the EA, and it
told us the power market is a bit of a
mess and those gent tailors cremit. This is not news.

(42:19):
Of course, a lot of people who try, and the
retailers in the power market can't make ends meet because
the gent tailor messes with the market makes it too
hard to succeed. When you are making the power and
then also selling it at retail, why would you cut
a deal with a person who merely wants to sell
it alongside you. What you do, according to the report,
is you keep your profits back in the generation side
of the equation. Look like you're competing with the other

(42:41):
retailers on a level playing field. Interestingly, the power market
has a couple of things the banking market might learn from.
Unlike banking, a lot of people switch power providers. It's
easy and the churn is high. People do it all
the time. But does that make your power better or
the market more efficient? Apparently not, given we're having reports
and we have upset, so open banking might not be
the panacea they hope it is.

Speaker 13 (43:02):
Are.

Speaker 2 (43:02):
There is seemingly no real barrier to retail entry in
this country. We have lots of players, lots of choice.
Has that helped apparently not. You might find the same
thing in banking, and in that I suspect is the
real lesson here. It's industry whack a mole. For everything
theoretically good, you can point to a problem like banking,
the power market is broken. The gent tailors, of course,

(43:22):
have a defense. They are taking their money and they're
investing in renewables, and to a degree they're right they are.
But and this is where the previous government caused the problem.
By obsessing about renewables. We discovered that they don't work
because they're not reliable. So what's reliable? Gas and coal?
Hate coal? Stop looking for gas now we have no
gas and we've never burned more coal. So in that sense,

(43:45):
the market is broken. It doesn't fundamentally, no matter who
owns it or runs it, produce what we actually want
and most importantly, when we actually need it. And like banking,
reports are easy to write and scraps within the industry
are easy to have. The big question is what does
the government do and do they have the legislative gonads
to do it or is this just another report that

(44:05):
ends up you know where Hosky is. Mister Luxon not
just as bad as the Witangi Tribunal by saying you
won't vote for or support something that hasn't even been
written or table yet. Andrew, I tend to agree with you,
but it's a long held position and he's been consistent
on it. And I think where David Seymour's got a
little bit shirky or shirty is when they went to

(44:29):
the Mariah the other day and they Shane Jones and
Luxon reiterated it. And I think Seymour, deep inside himself
knows full well he's on a hiding basically to nothing
with this conversation. But more on that later, Mike, it
is not up to the police to pick and choose
the laws they think are okay to enforce. They have
a job to enforce all laws passed by the legislators.
They should stop whining and get home with it. And you,

(44:49):
my friend, are in a group of three this morning.
Mister Glen and mister Sam are in full agreement with
you and gave me a full pasting for my pathetic life.
Lightweight once over, lightly question line and my obvious affinity
with the police union and mister carr Hill in agreeing
with him. So I'm taking a beating anyway. It's all

(45:13):
going to turn around shortly because for the first time
ever on the Mike Hosking Breakfast, Darlene Tanner is going
to show up. It will be the only time she
will be on this program. So make the most of it.
It could be fantastic. It could be a complete and
utter bust. Either way, I can do nothing more about.

Speaker 1 (45:33):
It answers from the decision makers the mic Hosking Breakfast
with a Vita Retirement Communities, Life Your Way News Tog said.

Speaker 2 (45:44):
Be the other thing, by the way, that I forgot
to mention it didn't have time with Chris Carhill, but
we'll be bringing up with Mark Mitchell is the seventy
thousand formal warnings. And this has got nothing to do,
I don't think with a vaping, but the seventy thousand
formal warnings the police have issued people. So what happens.
I'm assuming I've never broken the law and I've never

(46:05):
had a policeman come knocking on the door, so I
don't know how it works. But what I'm assuming happens
with a formal warning is they go, this appears to
be happening at your house, or you appear to be
doing this that or the next thing, which is illegal.
What we're going to do is issue you a formal warning. Now,
what has happened apparently is if you agree to guilt,
in other words, you go, yep, maya culpa. It was me.

(46:25):
I did it missus Smith with a candlestick in the library.
They will potentially issue you a formal warning that's legal.
If you go no, I didn't and I don't know
what you're talking about, and they then issue you a
formal warning that's illegal. It's been decided it's illegal. And
so now they've got these seventy thousand and here's what

(46:47):
I suspect has happened. Because originally when this case was
taken to court, it was a High Court ruling in
twenty twenty one from a formal warning issued in twenty
nineteen to a teacher accused of grooming of fifty year
old student. In that court case, they said that was
illegal because the person said I'm not guilty. In the
ensuing period from the teacher's formal warning in twenty nineteen

(47:10):
to today, police have issued approximately twenty thousand formal warnings.
However afterwards at Balloon to ninety two thousand. So in
other words, I think what's happened and this will be
under the previous Labor government, is that instead of actually
doing anything or arresting people or laying charges, they just
issued formal warnings. So they issued like tens of thousands
of formal warnings and now they've got to do something
about them anyway, Mark Mitchell, after eight twenty two minutes

(47:33):
away from eight No two year sides star right, perhaps
not surprisingly, the agonizing league, lengthy and fantastically tedious Green's
approach to Darline Tanner has reached another turning point. She
has officially declined their request to quit, and so the
party will now presumably enact the Waker jumping law and
boot her out in Darlinge Taner as well as a

(47:53):
very good morning.

Speaker 7 (47:53):
To you, Good morning to you too, Kilda.

Speaker 2 (47:57):
Should the report be released in full? Do you think.

Speaker 7 (48:03):
I resign myself to I'm actually surprised that it hasn't
been leaked already, to be honest.

Speaker 2 (48:09):
With you, but should it be released in full so
we can all read it and all make up our
minds once and for all.

Speaker 7 (48:17):
Look, I think it's very clear for me that I
have I do not recognize the findings of the report.

Speaker 2 (48:24):
I'm not asking you that. I'm just saying, should it
be released and full so we can all work out
for ourselves whether you're a good or not.

Speaker 7 (48:29):
You can read it and then you'll make a conclusion.
But it doesn't necessarily represent what actually happened. Direct evidence
was not taken into account and for investigation, So.

Speaker 2 (48:39):
That was a stitch up, you think.

Speaker 7 (48:43):
Look, I've heard the words which hunt absolutely right.

Speaker 2 (48:46):
So a stitch up. So they played a lawyer. God
knows how many tens of thousands of dollars to stitch
you up.

Speaker 7 (48:52):
Look the whole process. For me, it's very clear when
I look back on how everything happened. The decision to
get me to resign was premeditated from the get go.

Speaker 2 (49:03):
Why because they don't like you.

Speaker 7 (49:05):
I become uncomfortable Because.

Speaker 3 (49:07):
It is.

Speaker 7 (49:09):
No, they had to become really uncomfortable. I mean, we're
on the back of how many very very difficult situations
with MPs in Parliament, and so you know, you take
it this is you just want to be able to
get onto the job, and I just became a fool
on this side, and it was just easier and nice,
just so much easier if I would have moved on.

Speaker 2 (49:32):
Do you think that if I read the report in total,
I would come to the conclusion that you abused in
some way, shape or for migrants.

Speaker 7 (49:40):
No, the finding doesn't find any conclusion of migrant exploitation
at all. The investigation was into how much did I know?
Was I likely to have known that whatever it was
that my husband was up to in this business, and
effectively that's what the report found that I was more
than likely to have known on the basis that I'm

(50:01):
married to the guy.

Speaker 2 (50:04):
And the other migrants liars.

Speaker 7 (50:09):
I would never suggest that.

Speaker 2 (50:10):
Are they people who don't tell the truth in the
most fulsome of nature.

Speaker 7 (50:14):
Listen, I don't even know the guys so well. Even
if I did, I would never accuse somebody of that
is that is not not appropriate to do that at all.
They're quite within their rights. If they have concerns with
their employers, they're quite within their rights to raise those concerns.
And if they don't reach restitution, you know, directly with

(50:35):
their employer to go through the era process and that's
what they've done. That is what is ongoing, and that's
the process to deal with that. It's not pulling it
into the media just because you know the owner of
the business is married to an MP.

Speaker 2 (50:51):
The Green for Darlene who came up with that, that's
quite clever.

Speaker 7 (50:56):
That was part of our campaigning party. Yeah, so as.

Speaker 2 (51:02):
You sit here, as you sit here, you're not representing
anybody anymore and nobody voted you into parliament and so
is there anything within that that sits uncomfortably with you
that you think maybe I should do the right thing
and just nap off.

Speaker 7 (51:18):
My decision to stay was extremely considered and taking into
account exactly you know, that was one of the key
points around mandate do I have.

Speaker 2 (51:27):
That you don't?

Speaker 7 (51:28):
And and had I not been inundated with you know,
demands to stay because but that's.

Speaker 2 (51:36):
That's what we call in the industry, Darling, what we
call an industry is that's grandmother research. See lots of
people every day tell me I'm wonderful. It doesn't necessarily
mean it's true.

Speaker 10 (51:46):
Oh look as.

Speaker 7 (51:47):
Nice as the opposite as well. But when you when
when the messages are coming in three to one over
the over the get lost. You have to sit back
and you have to think of.

Speaker 2 (52:00):
That, well, do you because I'm always going.

Speaker 7 (52:02):
To take I'm also always going to take my cues
from the environment. I'm going to go out there and
see what's going on. Just tune and that is that
is the Mary and Me and that's who I listened
to for much of the time.

Speaker 2 (52:14):
Okay, but that's what we call. It needs to be.

Speaker 7 (52:16):
Done and the Greens drop the ball on they have.

Speaker 2 (52:19):
I'll give you that part. I'll give you that part.
Hopeless to obsisted about Palestine and they need to be
obsessed about the environment.

Speaker 7 (52:26):
But that as connect it. It's all connected. But somebody's
got to do that work fair enough to so it'll
be so much easier for me to go off the
slope off and just think under the water. But I'm not.
I need to be in that place to move.

Speaker 2 (52:41):
But but you're not allowed to be because let me
just connect you allowed.

Speaker 7 (52:45):
I'm absolutely allowed to speak.

Speaker 2 (52:48):
Is this how it works?

Speaker 7 (52:50):
Like, how do you mean?

Speaker 2 (52:51):
Well, the reason is that messages don't get you elected.
Votes get you elected. You weren't elected, and that's the problem.
So having messages to say I've got a lot of
people ringing me saying what a cool person I am?
Please stay is not the democratic process we operate in
this country. Therefore you you don't have a mandate, therefore
shouldn't be in the parliament.

Speaker 7 (53:10):
Okay, I'm not going down at reductionist route at all.
I'm looking. I'm looking really at the kopap. I was elected.
People elected most of the Green Party MPs on the
basis of the policies and the values of their party,
and I still hold very much to those values and
to those policies.

Speaker 2 (53:29):
Okay, what are you reckon?

Speaker 7 (53:31):
I'm doing the same thing. I'm voting in the same
direction as the guys. I'm talking on the issues that
I went into parliament on.

Speaker 2 (53:37):
What do you reckon they're going to do?

Speaker 13 (53:39):
Now?

Speaker 2 (53:39):
The Green Party? Will they enact the walker jumping legislation?
What's your hunch?

Speaker 7 (53:45):
You know? My hunch is just to leave it for
them at the board.

Speaker 2 (53:48):
Yea, I know, But what do you know? What do
you reckon?

Speaker 7 (53:50):
They'll they have not been the one in the control
of the sole process.

Speaker 2 (53:55):
What do you think you know them? What do you
reckon they'll do? Do you reckon they'll blink? Or do
you reckon, they'll try and out of there.

Speaker 7 (54:01):
I reckon they're thinking about it.

Speaker 2 (54:03):
Well, I know that, But but do you if I
let's have a bet, do you a dollar dollar bet?
I'll get a ten dollar bet to the environmental cause
of your choice. Do you think they will try and
enact the walker jumping.

Speaker 7 (54:15):
Only ten dollars darlings to the environmental Look, I've got
to be straight up with you. I probably don't even
have ten dollars to rub together. But it's a matter
of principle, and I've taken a principal decision to stand inside.
When I saw the party values flown out the window
and how I was handled, and and and everything, I

(54:38):
just said, Okay, I've been enough as a leader in
that party myself to understand how those values should work.
So when I don't see it acting out in prison,
I'm going to take that principal decision and send to
the side their cage from their own values and principles,
as they will nothing to take it.

Speaker 2 (54:54):
But your sense of it, darling, is what do you
think they will do? Do you think they'll pull the
tren or do you think you actually will win? They
will blink and nothing will happen.

Speaker 7 (55:05):
We'll see.

Speaker 6 (55:10):
I'm serious.

Speaker 7 (55:11):
I'm sorry, Mike.

Speaker 2 (55:12):
I don't apologize serious.

Speaker 7 (55:14):
It's about Mama tapoo for me, non neghostables. It's up
to them. They'll decide what's right for them.

Speaker 2 (55:22):
Okay, sorry, Okay for me, for my fine and we're
moving ahead. Okay, good to talk to you, darlinge Taner
happy with that? Sam? Is that worth it? It's thirteen
minutes away from eight.

Speaker 1 (55:41):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (55:46):
It'd be Mike. I called bes to the three to
one support read out the first six text, and I
bet you one hundred dollars to the green choice of
course of your choice. They're negative. They probably are. Mike.
You got the admission you needed, Darling and said, to
be honest with you, I probably don't have ten dollars
to together, so you got the crucks of the issue. Morning, Mike,
tallane to get lost. I think Darlene could have four
ten dollars with the parliamentary income. Morning, Mike. The woman

(56:07):
dances on the head of a pin. Since when did
you get so polite? Mike? Bring out the big guns,
believe it or not, Mike, I was thoroughly entertained in
that interview, Mike. She is unemployable, cannot make money any
other way. So sitting type, where do we send the
messages to tell her we wanted to go. She's looking
for feedback. OMG, Mike, what a waste of space. She's articulate,
can mount an argument impressive regardless of lack of mandate.

(56:29):
There you go, first and last nine minutes away from eight.

Speaker 1 (56:35):
Mike Costeel break visit with our Veda retirement Communities News
Tog said, b.

Speaker 2 (56:40):
I'll give you the good news first and then the
bad news. Blincoln, who runs up more carbon footprint than
pretty much any individual in the face of the Earth,
is currently in Doha. Not that that really matters. He's
just constantly circling the earth. He believes he's got Israel
on board for some ceasefire.

Speaker 14 (56:57):
Israel is now accepted that proposal. I heard that directly
from prim and Yo yesterday, and we I hope and
expect that her mass will do the same.

Speaker 2 (57:05):
That's the critical deck step.

Speaker 14 (57:06):
But once that happens, we also have to complete the
detailed implementation agreements that go along with putting the ceasefire
into a.

Speaker 2 (57:18):
Fact and that is the bad news. And I'm not
sure that people are picked up on this yet, but
i mean, first of all, this is his job, and
it's like the police and vaping. I'm sure he's got
better things to do with his time, but nevertheless he
does me to have to go to tell Abeeban awful lot.
The problem so far with the piece talks correct me
if I'm wrong, is that every time they've got some progress,

(57:38):
it has been her mass that has been the problem.
Now this is not to be anti or pro har
Mass or anything like it. It's just to say, from
all of my reading, every single time they hit a roadblock,
the roadblock is her mass. So you can get Israel
on side because Israel's been onside before, and you can
get everyone else on side in the Middle East if
you want to, but it's always her mass that doesn't

(57:59):
come across cross the line at the end of the day. Now, Mike,
who was responsible for the police not introducing or finding
people for voping in their cars, Well, no one was
responsible for that. They just simply didn't update their system,
as you heard earlier on from mister Carhill. Didn't they
took a health approach as opposed to a legal approach.
Then we come to the councils, and I refer to

(58:20):
earlier on this morning Crystal Election, who's speaking to the
local government people in Wellington this morning and hopefully putting
it right up them and telling them to pull their
heads in. But then you have this sympathy. Kee we
Rail propose closing Judge Road. Where's Judge doesn't matter, happens
to be a masterdom. But anyway, they proposed closing the road.
Everyone in the community went nuts and went that's a
dead end road. What's the point of that, you idiots,
Let's keep it open. Key we Rail said, sure, no

(58:42):
problem at all. And here's where the stitch up is.
Typically it would cost three hundred thousand dollars to upgrade
a simple rural crossing, in this case something a bit
more sophisticated, a high traffic crossing b about one point
three million dollars. Argue around those numbers if you want.
Seems a lot of money to me. Anything that Keywi
Reel does involves a lot of money, if not crashing
a boat. But that's probably another subject anyway. So it wasn't.

(59:02):
As it turns out, three hundred thousand dollars or indeed
one point three million. It started looking like it could
be two million dollars and the council started to get
a little bit worried about this. But then when the
final bill came back quote unquote from Kiwi Rail, we
have now had the work properly costed in That is
the clue. Did they properly cost it or did they
just jack it up to a point where they got
their way knowing full well when they went back with

(59:24):
the final number to the council, of the council go
we don't have that sort of money and we certainly
can't expect the rate payers to pay for it. That's
what That's what the Deputy Mayor Beck said Bex Johnson.
She said, we certainly can't expect the rate pays to
pay for that. The final bill was not three hundred
thousand or indeed one point three million. That's just a crossing.
Remember it's just a crossing, not a rocket ship to
the moon. It wasn't even two million. Came in at

(59:45):
four point eight million. Four point eight million, quick question,
who do you think's taking the purse? Use for you?
In a couple of moments, and then after eight Darling
on a hol on. We've done that. Mark Mitchell and
Jenny Anderson here at News Talk zed bik.

Speaker 1 (01:00:00):
M your trusted source for news and fews, the Mic
Hosking Breakfast with the range Rover, the law designed to
intrigue and use talks.

Speaker 3 (01:00:10):
He'd be.

Speaker 9 (01:00:12):
Baby, I don't have a heart, so by.

Speaker 5 (01:00:21):
James on the back of the hide Horse.

Speaker 2 (01:00:29):
He's a sleek poast Malone Joe. You've got them all
on board. This is Dolly Parton. He's got Chris Stabldon
on board. He's got Jelly Roll, he's got Tim McGraw,

(01:00:50):
he's got my friend Morgan Wallen. He's what Luke Colmes
as well. He is the next big thing that he
isn't a big thing in country music already. If one
trillion is the name of the album, it is a
minus past stage. It's time for politics. Wednesday. Mark Mitchell's
with us along with Jimy Anderson. Good morning to both
of you. A couple of quickies for you. Mark, just

(01:01:14):
on the business this morning of we had Chris Carhill
and they haven't been doing the vaping. They didn't update
the system. Are you fixing that? Have they let you down?
Is the a problem here.

Speaker 13 (01:01:24):
Well, I mean the previous comment part of legislation. But
obviously at that time, the police's advice to the police
ministers at the system, you couldn't sustain the change. There
needs to be some investment of that. But that has
happened and the police are now making the changes to
the system so they can issue finds. It's pretty hard
to apply discretion. Because I'm a huge supporter of police discretion,

(01:01:47):
I completely agree because around that, but it's pretty hard
to apply discretion. We actually haven't got the option, so
it's important that they've got the option.

Speaker 2 (01:01:55):
Did they let everyone down by not adhering to the
law because the laws the law and they're supposed to
enforce the law.

Speaker 13 (01:02:00):
Well, they informed the previous government that it was not
The government went ahead and pass the legislation. The advice
from the police was is that they couldn't set that up.
So you know, obviously now there's been some investment into
the system that's been stabilized, and I've made my exputation
is that they operationalize it so that police actually do

(01:02:20):
genuinely have discretion.

Speaker 15 (01:02:22):
Do you accept that, Jinny, My understanding, and this is
just from a memory, is that They couldn't do it immediately,
but there was a plan in place to do it
over time, and we were happy with that. Look, I'm
pleased that Mark is enforcing it. The government has been
very permissive around smoking by leaving smoke free go, so
I'm pleased you're taking a stance and mporting this.

Speaker 2 (01:02:41):
Okay, formal warnings, Mark seventy thousand formal warnings. And this
is unrelated to what I just mentioned before. It came
out of a court case and you issue a whole
lot of formal warnings. Turns out the court says that
if you wish you a formal warning and the person goes,
I'm not guilty, that formal warning is illegal. What do
you do about that?

Speaker 13 (01:02:58):
Yeah, that was the final of the core. So the
police have to respond to that. And look, in some
cases that's probably a fair call, is that, you know,
if you're going to get a formal warning, then it
should be based on the fact that there's an admission
of guilt, especially on the upper end of things. But
so yeah, the courts obviously found that the police are
having to respond to it. Look, the reality of it

(01:03:19):
is formal warnings and alternative actions went through the roof
under the previous government because they made legislation changes around
the enforcement of drug offending to a health based approach
which removed some of that discretion that police said. And
of course, you know when you've got a target like
reducing the business muster by thirty percent, the police of
course are pushed into a space where you see a

(01:03:41):
big increase in formal warnings and alternative actions.

Speaker 15 (01:03:45):
So I just like to comment on that. So pre
charge warnings were brought in under the John Key government.
They had a goal of reducing by nineteen percent those
coming into the system and they got to twenty five percent.
So if you look back and look at the biggest
reductions in police arrest that comes under John Key, and
that's two thousand and eight section and that was the

(01:04:05):
introduction of pre charge warnings. It was most definitely done
under a national government.

Speaker 13 (01:04:10):
Okay, let's see that there's a place. There's a place
for warnings, but there's not a place for the charge
formal morning increase.

Speaker 15 (01:04:16):
Recharge formal warnings was brought in. I was working in
police at the time. Mark, I remember pre charge there's a.

Speaker 13 (01:04:21):
Place and there's an important place for that. Judy, I'm
not arguing with you at all, but what I'm saying
to you is this under the previous government has been
a huge increase because the policy settings that you put
were around a reduction of the prison sent the prison
must be thirty percent, a lesson increased to alturnative actions
which might keeping it.

Speaker 6 (01:04:39):
Provides you with the data like.

Speaker 15 (01:04:42):
That pre charge warning brocketed up. First time they came
in was under the last national government and that's when
you hit the crystal mask locase.

Speaker 10 (01:04:50):
Okay, that's brought in the truth.

Speaker 15 (01:04:53):
We can go back and find the data.

Speaker 2 (01:04:57):
Let me ask you a more broad based question to
try and deeper. Besides this, Potark is under some sort
of heat at the moment from various forms of the
media who seem to think that the claim that you've
gone and got a whole lot of people out of
emergency housing and you can't give me the address as
to where they've gone somehow an issue. Ginny. Is it
reasonable to think that a government tracks a person who

(01:05:21):
goes from government assistance to non government assistant for the
rest of their life and somehow can when I ask you,
it seems to me the stupidest story in the history
of the world. If somebody is no longer on the
government assistance, they've moved on with their life, why should
the government know where they went and what they did.

Speaker 7 (01:05:38):
I think the.

Speaker 15 (01:05:38):
Point they're trying to make is that if the government
stopped big housing builds, they've stopped put in crime or
order housing and numerous areas around the New Zealand. And
then they're boasting that the number of people in emergency
or housing has reduced. Well, if there's no more housing,
and where have they gone? And the answer is they're
on the street. And I was an Auckland last week

(01:06:00):
and I talked to Aaron Hendry.

Speaker 10 (01:06:01):
He was working with a.

Speaker 15 (01:06:02):
Couple who are sixteen that had been benefit sanctioned. They'd
been kicked out of emergency housing and they were on
the street. So that's why we're seeing issues in like
Central Wellington and central Auckland with increased homelessness is because
people are being kicked out of homes. And that's the
point they're making.

Speaker 2 (01:06:17):
All right, brief break, let me get your view on
at the moment, Mark, Mark Mintchell, Juney Anderson thirteen Past.

Speaker 1 (01:06:22):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio powered
by news talks.

Speaker 2 (01:06:28):
It'd be Neus talks have been coming up sixteen past
eight make Mitchell, Ginny Anderson, whe Us Mark. I suppose
to the point is if you're going to climb thirty
three percent or whatever the number was reduction in emergency
housing and suddenly you can produce thirty three percent increase
in number of people on the streets and cars, there's
your problem, isn't it.

Speaker 13 (01:06:42):
Yeah, but that hasn't happened. And I do agree with you,
is that it's in any state for the government to
start poking into people's lives and finding out what they're doing.
So you know that the reality of it is the
incoming government is that we had a big issue around
emmergency housing. Were lots of houses that were standing empty.
Tuma has really turned his mind to us, worked with
Chris Bishop, and they seem to be delivering some really

(01:07:04):
good results. It's a really positive story in relation to
in relation to people living on the streets. Look Awkland,
CBDs becoming safe again. It's early days, but we're moving
in the right direction. That's because I've pulled together a
group of cpn Z that Mary Warden's Police Counsel KOMSD,
business associations, the City Mission, our social service providers and

(01:07:25):
the local MP and we're all working together and we're
actually delivering really good results.

Speaker 2 (01:07:30):
Jinny, quick quickly if you can. There was a report
out on corruption and lobbyists and we need to change
the rules and donations to parties and all that sort
of stuff. When you were a minister of whatever you're
a minister of at the time, were you lobbied, were
you lobbied heavily? And did you ever think, I'll tell
you what, this is a bit much and we need
some rules around this or not.

Speaker 7 (01:07:49):
You always are.

Speaker 15 (01:07:50):
Lobbied, and that's where you need really good staff around
you to help and ensure that you've got good practices
in place. I think we probably do need to take
a look at those rules particularly. I just can't believe
that we've got someone like n McKee rewriting our gun law.

Speaker 7 (01:08:06):
She's a she was elected on.

Speaker 15 (01:08:09):
Being a gun lobbyist and now she's responsible for rewriting
our arms and.

Speaker 2 (01:08:14):
She was elected.

Speaker 15 (01:08:17):
Yeah, but there needs to be better checks and balances
on what's happening in that space. The fact we can
find ourselves like New Zealand has got a gun lobbyist
who wants to see military style semi automatic weapons back
being used on rangers, and now she has got of
re writing her armchack.

Speaker 2 (01:08:33):
Is called democracy. I saw you in the house yesterday.
I saw what you were trying to do. But at
the end of the day, and I know you disagree
with it, and I get all of that. But she's
a duly elected MP, has been given a job and
she's going to write to do the job.

Speaker 15 (01:08:45):
But what checks and balances are in place about the
influencers and the way she's consulting, So she's not consulting.

Speaker 2 (01:08:54):
Parliament and people voting, and people have their saying it's
a democratic process. I may not like it, but it's
unfolding the way normally.

Speaker 3 (01:09:01):
Think.

Speaker 15 (01:09:01):
I'm going to see some more in that space as
it rolls out, because I don't think national are happy
with getting rid of the gun registry.

Speaker 2 (01:09:07):
And no, I know you're not happy with part of it,
are you, Mike.

Speaker 13 (01:09:11):
No, we're not getting rid of the gun industry. It's ridiculous.
As part of the coalition, as part of the Coalition agreement,
we agreed that we would do a review of the
gun registry to make sure that it's affecteds and this is.

Speaker 15 (01:09:22):
The treaty actors. You're just going to do a review,
but it's.

Speaker 6 (01:09:25):
Not going to go anywhere.

Speaker 13 (01:09:27):
And so there will be a review. But I can
assure you as the police. Butter so the gun Registry
is going nowhere.

Speaker 2 (01:09:33):
Lobbying and corruption. Is there a corruption in this country?
And are you lobbied? Are you lobbied heavily and to
a point where you think we need new rules?

Speaker 13 (01:09:42):
Look me personally, I think that our democracy is one
of the most open and transparent and corrupt free democracies
of the world. We should be extremely proud of that.
We should do whatever we need to continue to safeguard that.
But my role I work right across all the parties
in Parliament on the I'm a local MP, so people

(01:10:02):
should have open access to me. They should be able
to come in and sit down and talk about their issues.
You know, that's a big part of being a member
of Parliament in New Zealand. You are represented if you
are serving the community. So you know, I'd hate to
see that any chilling effect on that. In terms of lobbing,
we all get lobbied. That's what I open democracy is about.
People take very strong positions on things, but you know,

(01:10:26):
as long as we're transparent, as long as we're very open,
as long as we have safeguards in place, then I
think that's easily manageable.

Speaker 2 (01:10:32):
Good to see you both, Mark Mitchell, Ginny Anderson for
another Wednesday Morning. Come back to Greg O'Connor in the moment.

Speaker 1 (01:10:36):
Eight come breaks with the Range River Village News.

Speaker 2 (01:10:43):
Jenny, what happens at RVD. A lot of people going
around saying I wish you've done it a bit sooner.
People on VIDA, the team here that a lot at
r VIDA from their residents once they've moved into their communities.
That's because with the support of the r VDA team,
are the residents take control. They come up with ideas,
initiatives around new projects and interests, and what they call
it lead is life Your Way, So that means a
whole host of resident led activities, community gardens, singing groups,

(01:11:06):
art classes, strength and balanced sessions. So basically you find
a unique range of activities or clubs on offer individual
to each of the thirty five are Veda Living Well
communities across this beautiful country celebrating are Vida's mission to
create communities that give people the freedom to thrive life
your way. It's good staff a. So take a tour
of a few are vida communities. I mean, because they're

(01:11:28):
all individual and so unique. You don't want to see one.
You want to see a whole bunch of them, because
you find a bit of you there, get the vibe
are Veda, arvid A, r Veda, dot co dot NZ's
quite no difference between that and the Green MP being
an environment minister, couldn't agree more. I think that's the
salient point. What relevance Mike does. Nicole McKee's past involvement

(01:11:49):
with firearms groups have to do with the oversight of
the firearms laws. So the Greens are environmental lobbyists, so
that by logic they should have nothing to do with
any laws relating to the environment. Same with the Barry Party.
On this logic they should have no involvement in the
law related matter. And so it goes Karen Shaw there's
another good example, Act MP. She wants to get rid
of seven double A. Now does she know what she's
talking about. She's a child of the state life experience,
lived experience, and so it goes. Now the greg O

(01:12:11):
connor thing fascinates me. Greg O'Connor, Labor Emp yesterday said
in terms of sanctions for unemployed people and if they
don't turn up to the interview, et cetera, especially for
young people, he said, quote unquote, I'll put my neck out.
That's interesting in and of itself. I'll put my neck
out and say they're probably not a bad thing. Q
The upset within the Labor Party, and this is where

(01:12:32):
I feel sorry for David Seymour. The problem with politics
in this country is you can't be your own person,
You can't have your own opinions. You can't step out
from the group and say something you know you don't
want to make it a thing, obviously because eventually people
will go, do you really belong in that party? But
every now and again and a centrist like Gregor o connor,
and I regard greg as a centrist and excuse me,
in terms of the Labor Party, and he's come to

(01:12:53):
the conclusion that sanctions for young unemployed people aren't a
bad idea good on them. He's allowed to. It's an opinion.
It's not the end of the world. By the end
of the day. Chrishipkins, leader of the Labor Party, probably
not for much longer. The way things are going, said,
I'm gonna have a word with them. Why to do what? Say?
You can't have your opinion. Your only opinion you're allowed

(01:13:13):
is the opinion that I tell you. What sort of
system is that? Imagine if the management of this particular
company came to me and said, Mike, some of those
opinions this morning, we didn't really like those, So if
you can amend them to the affault and just give
you a list of what to say. And so this
is where poor old David Seymour comes in, because his
Treaty Bill, which is going to die death unfortunately been

(01:13:34):
people have decided they don't like it, even though it
literally doesn't exist. It literally does not exist, but we've
decided we don't like it. So that's the end of that.
And unfortunately for him, some of the people who have
decided they don't like it, and the people in his
own coalition, so that makes life awfully difficult. What he
was hoping for, and this is the sadness, was a
broad based, cogent, intelligent adult discussion in which we could

(01:13:58):
all sit down, have our say and possibly come to
a conclusion. Maybe with a few people even changing their minds.
That was his hope that now is not going to
happen because we're so segregated, so separated, so brow beaten
by those above us, like the Labor Party, that you're
not allowed in opinion, and if you do secretly hold
that opinion, you come possibly utter it publicly, or else

(01:14:21):
you're going to get told off. Now what sort of
democracy is that you can't even float an idea, as
controversial as the idea may be. You can't even float
an idea for fear of having the whole thing predetermined.
There's something not right about that. Now News in a
couple of moments, I note that the insurance companies in
Australia read New Zealand because it's like banking. The same
ones that operate here, broadly speaking, operate here. They've come

(01:14:44):
up with a new excuse as to why your insurance
premiums need to keep going up and up and up.
Even though the weathers settle down and things are moderately
back to normal, they still need to keep going up.
More on that after the News with Steve.

Speaker 1 (01:14:56):
The news is next, he said, setting the news agenda
and digging into the issues the Mike Hosking Breakfast with
Bailey's Real Estate, your local experts across residential, commercial and
rural news togs EDB.

Speaker 2 (01:15:11):
My insurance sector needs to government review. Our home building
insurance premium went up thirty three point one percent last
year thirty eight point six percent on renewed last week
last year in a tough economy. I'll come to the
Australian example of that in the moment. But that's that's
ripe for another market study. Isn't it for goodness say?
Where nothing will come out of it?

Speaker 5 (01:15:28):
Mike?

Speaker 2 (01:15:28):
The Treaty Principles Bill fiasco exposes a couple of things. First,
d Chrystobal Luxen is not principled, will always choose populism
over principles. Well, that's called democracy and it's how you win. Secondly,
David Tymore, whether you agree with them or not, is
the most principled leader we've seen in living memory. Twenty
three minutes away from.

Speaker 1 (01:15:44):
Nine International correspondence with Ends and Eye Insurance. Peace of
mind for New Zealand business in Australia.

Speaker 2 (01:15:51):
Three plus, Very good morning to you, Good Morne. Now
the soul of farm. I'll come to a story I
read in Australia Australian media the other day because there
seems to be real anks with the Barnaby Joyce and
stuff over how many windmills and how many solar panels
you having that particular part of the world. But this
world's biggest one. How big is it massive?

Speaker 3 (01:16:08):
I mean this is called sun Cable. To give you
an idea even to google what the hectare hectares into
acres was, It's twelve thousand hectares big, which is thirty
thousand acres. It's also had approval for an eight hundred
kilometer transmission line between where it is down the Attendant

(01:16:29):
Creek back to Darwin. And it's also got approval for
an underwooter cable which will end at the end of
Australian waters. Now, the history of this stink is it's
mainly owned by Mike cannon Brooks, who's a billionaire in Australia,
made his money in tech now.

Speaker 13 (01:16:45):
He and Twiggy.

Speaker 3 (01:16:48):
Forest the Iron ore Minor were originally partners in this thing,
but twigg walked away. The original plan is to run
a cable under the water all the way to Singapore
to provide clean energy for Singapore. So that would be
a four two hundred kilometer underwater cable. That would be
the longest submarine cable link in the world. The next

(01:17:10):
longest is only some seven hundred kilometers between Europe and
the UK, so tween you walked away Cannonbrook stayed in.
This thing's now got approval from Tanya Plivsekt, the Environment Minister.
The reason I mentioned her is that she has this
week shut down a gold mine in New South Wales
because of concerns around an indigenous artifacts. That mine had

(01:17:32):
been going for some thirty years and the owners of
that mine are very upset. And she's also with the
Prime Minister shut down uranium mining in a place called Jabaluka,
which is on the edge of the Kakadir National Park,
also in the Bokern territory. So it seems if you're
green and you're getting your energy from solar panels or
wind farms, you're going to get a tick no matter

(01:17:54):
how big and where you are and how how either
risk might be. But if you are traditionationally mining things
like uranium and gold, you're going to get told no,
you can't do it.

Speaker 2 (01:18:03):
Interesting article also I read yesterday that suggesting somebody can't
remember who it was. Something Tank was suggesting that your
window for renewables and the claim that you're going to
be ex net free by twenty thirty and therefore eventually
by twenty fifty is closing fast. How big a debate
is that in Australia. Are people exercised about this or not?

Speaker 7 (01:18:20):
Really?

Speaker 3 (01:18:21):
Yeah, it's a huge debate, and people don't believe the
claims that are being made, particularly by Chris Bohen who's
the green Energy Minister. He just seems to be on
some sort of fantasy and so this stuff just goes
on and on and on. People just don't believe it.
I mean, you're a you're a practicing economist. Does it
make sense to build a solar farm over twelve thousand

(01:18:41):
hectares which can generate enough electricity to power three million homes?
Do you know what the population of Darwin is?

Speaker 5 (01:18:49):
What?

Speaker 3 (01:18:50):
One hundred and seventy thousand people? Why you're building a
farm that can power three million homes in the middle
of nowhere to power nothing? Well, who's going to use
the alexity?

Speaker 2 (01:19:01):
We're going to do with it unless you can all
store it or whatever.

Speaker 3 (01:19:05):
We're too you can't send it down the line of Adelaide.

Speaker 1 (01:19:09):
No.

Speaker 2 (01:19:09):
Well, if you could, that'll be your answer to your question.
But if you can't, then there's no point. You're exactly right,
eric Andre. Have I heard of him or not?

Speaker 3 (01:19:17):
No, neither of I. He's apparently got two point nine
million followers on Instagram and probably you'll luck your younger
audience probably does know. Eric Andre was this is a
bloke who has had trouble in airport in America before.
So let's just put that out there right now. He
claims he was. You travel through Melbourne Airport a lot.
He claims he was racially profile harassed and sniffed thoroughly

(01:19:40):
by a dog at Melbourne Airport in what he calls
a Cocker Mamy procedure. Now, he said, here's a message
for all black, brown and Indigenous people traveling through Melbourne today,
especially if you're going through international terminal, please be careful.

Speaker 5 (01:19:56):
He said he'd just.

Speaker 3 (01:19:57):
Been through a twenty five hour trip from New York
to through Melbourne to Brisbane. He got pulled out of
her into a lineup while going through security. He was
put in a special line sniffed thoroughly by a dog.
He said the experience, he expected any future clients to
bring him to Australia. I'm not going through that airport
anymore unless I have a security gap. I mean the

(01:20:18):
guys Doret.

Speaker 2 (01:20:20):
Then we come to Gsenta as opposed to So the
claims on returning is that worked? Well, you know when
they sit in New South Walesia day, you've got to
get back to the office.

Speaker 3 (01:20:29):
Did they No, they haven't. Probably, I mean, no one's
measured yet. But this crazy claim from Decenter Allen today
that where she claims that foot traffic to the city
of Melbourne is back to pre COVID levels, Well, I
don't know how they're measuring it or where they're measuring it.
By the way, Victorian public servants are expected to work
from the office three days a week, so you don't

(01:20:52):
have to work from the office Monday and Friday, so
that gives you Friday's at that Sunday Monday and no
one measures that either. The Melbourne said is crumbling. I've
told you this before. It is a mess covered with
the graffiti and there's not many people there. These foot
traffic measurements are taken not near public service offices. Interestingly,

(01:21:13):
so what I suspect these are measuring is weekend foot
traffic for people going into the city, may maybe to
go to restaurants and cafes and bars, but certainly workers,
the liightblood of any city, are not back in Melbourne
and any big numbers at all.

Speaker 2 (01:21:28):
Wow, do you and I ask the question again, if
you win's your next election locally.

Speaker 3 (01:21:34):
Twenty twenty six November.

Speaker 2 (01:21:37):
Would you make a call here and now do you
think that the tide has turned on that lot and
they might get booted out?

Speaker 3 (01:21:44):
Oneredent? Now, they're not many governments last ten years anyway,
so this one will be by the time we go
then election, it will be twelve years. They are cooked.
They are toasted, as long as the opposition, who have
been dreadful for the last decade can get their act
together to get themselves a decental leader.

Speaker 2 (01:22:01):
Well, it's a pleasure. We'll see you Friday. Special Friday
appearance of Steve Price this morning on the mic Hosking Breakfast.
It's seventeen minutes away from nine scar quickly it's beneficial
for the sheep. This is the article I was referring
to as regards solar in Australia wind wind so this
is this ongoing debate. Farmers are being offered up to
fifteen hundred dollars a hectare per year. So little Proud,
who's the national's leader Regional Australia saturation point for renewable

(01:22:25):
energy projects, wind turbines, Barnaby Joys, solar panels, filth, filth
that's all over our countryside, is what he says. However,
what they've worked out, and I don't know why they
haven't worked it out before, because it makes perfect sense.
Whack a few solar panels in a big paddock and
what happens well, won the sheep shelter under it. In
a place like Australia where there's a lot of sun,

(01:22:46):
they get shade good When it rains. What happens to
the water when it hits the solar panels, It runs
off onto the land in a way that makes a
noticeable difference to the land. And so they've got a
noticeable difference in productivity between the paddocks were solar panels
and those without. Its beneficial for the sheep. They have
shade in the summer, shelter in the rain and the

(01:23:07):
grass is green from the moisture running off the panel,
So how on earth would you how could you possibly
so you can add both? In other words, you're not
converting land from sheep to forest. You're converting the land
from sheep to sheep and solar panels. When when surely
eight forty five.

Speaker 1 (01:23:24):
The My Asking Breakfast Full Show podcast on iHeartRadio powered
by News talks at.

Speaker 2 (01:23:30):
B twelve away from nine mic. Insurance in this country
is worse than banking. Only two major companies has compared
with four banks, all Australian nine. It's trunning should say that.
So I'm reading this article once again in Australia. Yesterday
sun Corp, who run Amy and Gio and that part
of the world, but here they run vio, AA, astro
On etc. They were busy telling us how they need
to keep on putting up premiums because despite the fact

(01:23:50):
that the weather had settled down a bit in the
past five years, they had seven hundred thousand claims costing
more than nine billion dollars. Our reinsurance has become more expensive.
So we accept all of that. Fair enough, their facts
and figures, you can't argue with them. Input costs whatever
that means, had added a billion to the company's bottom line,
higher insurance costs had been the biggest contributor to inflation.

(01:24:10):
Annual inflation as done on Australia at three point eight
are the most recent consumer price index figures for insurances
at fourteen. I mean they're as bad as local councils
peak of sixteen point four. So, in other words, unlike
everything else in inflationary that's inflationary at sixteen point four peak,
that not come down, they are only at fourteen percent
In home insurance. They're saying it's a more complex area

(01:24:30):
because what we're discovering in Australia is water damage inside
the home. And here's the interesting one severe fire losses. Now,
why are they're having severe fire losses Lithium batteries. When
a lithium batteries burns, it burns everything. You can't put
it out. It's hard work. They've also got problems with
Flexi water pipes that were installed more than a decade ago,

(01:24:51):
and the Flexi water pipes are bursting now apparently very Wellington. Anyway.
In twenty twenty four Sun Corp. And I'm building up
to this twenty twenty four sun Corp eight hundred and
twenty natural disasters that cost more than ten million dollars.
So all of this is fantastic. So they're saying, look,
we can't help it. We'd love to charge your left
but we simply can't because times are difficult. We've got
all these flexy pipes, we've got all these lifting and

(01:25:13):
batteries blowing up from all your evs and your e scooters.
So what do you want us to do? Having announced
all of that, they then say their full year net
profit was up by twelve percent to one point two
billion dollars. Talk about shoot yourself on the foot at

(01:25:35):
the end. Ten away from nine.

Speaker 1 (01:25:37):
The Mike Hosking Breakfast with Dailey's Real Estate News Talk Zivvy.

Speaker 2 (01:25:42):
Mike, we have a we have a farm, but we
could also have a large wind farm. But we're controlled
by the nimbis that live at least one hundred and
seventy kilometers away, run numerous hills, etc. That's part of
the problem. That's what they're trying to, you know, get
past and the Resource Management Act and all that sort
of stuff. Today, if you're into the DNC, the Democratic
National Conventions, I thoroughly enjoyed yesterday, not all of it.

(01:26:03):
Some of it was a bit narky. Raskin was a
bit narky. Jill Biden probably hit her true emotions reasonably
while she was short and sharpened to the point that
was quite good. Hillary Clinton was surprisingly good. A lot
of talk about how good the makeup department is in
the Democratic Party. Most of the women look fantastic, and
you've seen photos where they don't, and so they've been
able to be successfully transformed visually. They looked absolutely brilliant. Anyway,

(01:26:27):
be that as it may, she was good. Hillary was good,
and it must have been difficult for her to front
up and say what she had to say, given you
know what happened to her. But today is in fact,
today I think is better than tomorrow because tomorrow is
Bill Clinton could be good. Nancy Pelosi, she was standing

(01:26:47):
there with a sign, she grabbed it off somebody. She
didn't have a sign, and when Joe came out, everyone
the evation that Joe Biden got is worth watching. It
is absolutely like nothing you've ever seen before. It was incredible. Anyway,
she didn't never sign, so she snatched one off one
of her minion's which was a thank you Joe sign,

(01:27:07):
and I thought you d plicitous backstabbing little San Francisco
white you, I thought, what a shaller If you're going
to knife somebody, and she was the chief knifer, at
least don't pretend you're not a knifer, and you don't
pretend what you really are. For God's sake, I hate
duplicitous people.

Speaker 3 (01:27:28):
I'm sure I thought Joe said that nobody was angry.

Speaker 2 (01:27:31):
Joe was lying anyway, So today's the day because you've
got Michelle, and nobody's more popular in the Democratic Party
than Michelle, not even Barak, who I'm assuming is coming
on after her, because I don't think that. If I
was running it, i'd put her on after him because
she's more popular than he is. But I don't think.
And Doug him Hoff, i've never heard him talk. I mean,

(01:27:53):
he may be good, he may but he's on the day,
so it could be a good day. Five to nine.

Speaker 1 (01:27:58):
Trending Now House, the Real House of Fragrances.

Speaker 2 (01:28:02):
Sopranos. We've got a thing. If you love the Sopranos,
We've got something for you. It's a new two part documentary.
It's called Wise Guy David Chasing the Sopranos. It's about
how it came to be. We got some new interviews
with all the stars.

Speaker 16 (01:28:17):
For years, everybody told me you should write the show
your mother and yourself, she was so out there.

Speaker 5 (01:28:24):
Stop telling me how to live my life.

Speaker 10 (01:28:26):
You just shut up.

Speaker 16 (01:28:29):
Who's gonna watch that?

Speaker 8 (01:28:30):
So what happened with you and the Sopranos is, like
Chibio said, go for it, man.

Speaker 16 (01:28:35):
Well nobody else wanted it.

Speaker 5 (01:28:37):
We said things that nowadays would be frowned upon.

Speaker 12 (01:28:40):
We're writing about bad people, and we got to access
to those parts of ourselves.

Speaker 16 (01:28:44):
The story comes out of those characters. Jim had his
own way of becoming Tony. Unless you're really diligent, you
can end up taking your work home, and as an actor,
that's not always a great idea.

Speaker 2 (01:28:55):
He probably quit the show every other day.

Speaker 11 (01:28:59):
Did you see the Elements of Yourself and Tony?

Speaker 2 (01:29:02):
September seven? It's on Max, but we don't have Max here,
so that means it will be on Neon, and as
Glenn so often points out, if it's on Neon, it's
on Sky Sky, So therefore it's on Sky Neon and Max.
I didn't watch. My wife did? She watched more than

(01:29:25):
I did. The show called Breeders. Does breeders mean anything
to you. It's on Disney. If it's not on Disney,
it's on Apple. I think it's on Disney. And it's
got the British guy that yoga ah him. He's on everything.
It's comedic, it's moderately entertaining thirty minute episodes. We concluded
I walked out halfway through and said this is crap,
but we concluded by the end of it that it's

(01:29:48):
got potential. So if you've got time today in between
the Democratic Convention, give that a crack and let me
know them what you think. Back tomorrow morning on The
Mike Hosking Breakfast from six as always Happy Days.

Speaker 1 (01:30:02):
For more from the Mic Asking Breakfast, listen live to
News Talk Set B from six am weekdays, or follow
the podcast on iHeartRadio.

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