Sloppy hysteria
February 17th, 2010 at 10:08 am by David FarrarThe Herald reports from Parliament:
Finally it was back to the Prime Minister for the last question – this time about his holding of shares in Jackson Mining.
Asked how he could not have known the company had merged with another and was now involved in uranium mining, he began with: “There was the small technical issue – I have been busy running the country.”
He added that he would be the first to admit it was “sloppy” but said the last time he had looked they were trading at 3.5c “and when I offered them to my son, who was 12 at the time, even he did not want them”.
I was absolutely stunned that TVNZ had as their lead story that the PM had admitted he was “sloppy”, as if this was Watergate II.In fact there was nothing that came within a million miles of being a conflict of interest.
John Key had declared the mining shares in his register of interests. This is what you are meant to do.
Now a conflict of interest tends to relate to something favouring a specific company, not something that affects an entire industry.
The mining company in question is Australian, does not operate in NZ, and has no plans to operate in NZ. Anyone who thinks this creates a conflict of interest, just because the Government is promoting mining is biased or stupid.
The Government promotes agriculture. So should Jim Bolger have had to sell his family farm when he was PM?
Helen Clark was a residential property investor. Should she have sold all her houses because the Government made decisions that affected rental properties?
Of course not. No reasonable person thinks that is a conflict of interest. If you adopt that standard, then every MP would be forced to liquidate all their assets and have only cash in a bank. But oh no, wait Government can affect banks, so lets force them to store their cash under their bed.
Having shares in an Australian mining company that does not operate in NZ is not a conflict of interest. Even if they did operate in NZ, it would not be a conflict of interest. The conflict of interest would be if a decision was made to grant some licence to that particular company, which the PM took part in.
The PMs statement that he had been sloppy, simply relates to the fact he hadn’t bothered to keep track of what the company was doing, as its shares were near worthless.
Now that may deserve a couple of paragraphs in a political story in a newspaper, but to have TVNZ make it their lead story is unbelievable.
UPDATE: Colin Espiner has previously blogged much the same thing:
As for the mining story, I’m a bit nonplussed. Frankly I don’t give a monkey’s whether Key owns shares in an Australian mining company, and I think TVNZ’s pretext that it’s a story because the Government is planning to mine national parks is a little flimsy.
If owning shares in a mining company could become an issue, it should already be an issue, since there is already extensive mining in this country. And we’ve known for ages that Key’s share portfolio includes mining companies. I remember him talking about it during the election campaign.
As for the second leg of the story – that it’s a bad look for a PM of a nuclear-free country to own shares in a company that mines uranium – I’m sorry, but I don’t get that. Uranium might be a precursor to the manufacture of plutonium, which is used in nuclear weapons.
But it’s also used in a vast array of medical and scientific procedures. I’ve always thought it funny that people claim we’re “nuclear free” when there’s enough plutonium in our hospitals and universities to make your hair fall out.
This is about TVNZ promoting itself. Because the so called “revelation” was made on a TVNZ show, that means they feel they have to keep it alive as a news story.
February 17th, 2010 at 10:21 am
It’s what you expect from sub-intellectual nonces.
Vote:February 17th, 2010 at 10:28 am
I am no fan of Labour, but I had to cringe last night when I heard Neville Key respond to Goff with the line “well at least nobody thinks you are sexy”)
How pathetic and how juvenile, I had thought we might have seen the last of this type of crap when Klark left the house but it seems nothing has changed.
Vote:February 17th, 2010 at 10:33 am
I’d be far more interested to know if John Key and Nick Smith both had shares in carbon, which would explain their strange adherence to the ETS.
Vote:February 17th, 2010 at 10:39 am
If you ever needed a dictionary definition of “beat up” this would cover it. The MSM are in general a bunsh of wankers.
I just had the Herald ring me asking if I enjoyed my month’s free delivery and would I consider subscribing. I said no as I had developed tennis elbow from trying to get past the adverts to actually find something worth reading. Also the fact I have a “NO JUNK MAIL” sign up but these fuckers now put the same shit into the newspaper to infiltrate my house. Wankers.
Vote:February 17th, 2010 at 10:42 am
The Prime Minister got this absolutely right. It was a bit sloppy, but nothing more than that, and totally understandable that someone worth $50-100 million who is also Prime Minister would not have kept up to date with what was happening with what for him is a minor $200,000 shareholding. The public understands this — and the media who made too much of it look like idiots in the living rooms of the nation.
Vote:February 17th, 2010 at 10:43 am
What a sad indictment on the NZ media. Similar to when TVNZ bumped John Key off Close Up on the day of the tax change announcements so that it could bring us ‘breaking news’ of Robin Brookes’ apology. What a yawn and how pathetic. No wonder we have so little debate about the big issues in NZ, so no wonder we have a ridiculous and puerile fascination for the PM’s investment in mining shares. Good on him for investing in uranium. Who cares, honestly?
Vote:February 17th, 2010 at 10:44 am
actually, even cash wouldn’t meet the test required by this beat up, as government sets monetary policy for the Reserve Bank to implement include issuing cash and guaranteeing its value on behalf of the government!
Vote:February 17th, 2010 at 10:45 am
Actually, cash under the bed would be no good either as I’m pretty sure the government can affect exchange rates as well. Maybe ministers simply need to give everything away and become paupers!
It always annoys me how badly the media portray everything. With regards the suggested changes to the election financing issues, you would think that National header forced through some sort of clause to make sure the open Brethren only could spend money. What about the union spend?
Vote:February 17th, 2010 at 10:45 am
Why the hell did Key even bother to respond?
Vote:Saying he was sloppy just gives the morons more ammunition, and turns a non issue into a leftist feeding frenzy.
Who advises this guy?
G
February 17th, 2010 at 10:54 am
of course..the big unasked/unanswered questions here..
..are ..
…’what other mining-shares does john key ..or any other pro-mining ministers..own..?’
and..any serious ‘movements-in ownership’ in the past year..or so..?
(not to mention australian insurance company shares..!..in anticipation of the acc carve-up/feast..?
whoar..!..eh..?)
phil(whoar.co.nz)
Vote:February 17th, 2010 at 10:58 am
You can imagine them in the TVNZ newsroom patting themselves on the back at their biggest coup in years, Guyon the giant slayer. Its not even news let alone being the first item on Sunday and yesterday, TVNZ need to realize that the general populace is not as dumb as their journalists. They never liked these sort of tatics from Labour during the election or afterwards, it turns us off. Plenty of good stories here and around the world but it takes a bit of intelligence to cover them which is clearly beyond their wit.
Vote:February 17th, 2010 at 11:03 am
Oh for the days when we had real journalists who reported the story and nothing else.
I do NOT want to hear what Fran Mould thinks nor do I give a shit what Espiner’s opinion is on the matter.
Vote:February 17th, 2010 at 11:07 am
BB, agreed. I want information. I don’t want editorial comment, or simpering looks across the news desk!
Vote:February 17th, 2010 at 11:08 am
You can bet TTVNZ (Tabloid Television NZ) highly paid presenters have some shares in their portfolios.
Old Mark Sainsbury on Close Up seems a generally decent bloke, except for his wrinkled brow and but..but..but response when the interviewee’s response doesn’t fit the programme plan.
The programme organisers and researcher are in the same left-wing mould as other state-owned news media journalists. Like Radio NZ’s Labour Radio morning host Kathryn Ryan pompously and righteously socking it to the chief executive of Telecom yesterday (more of: fuck your shareholders, give us our toys now and for near-to-nothing).
Vote:February 17th, 2010 at 11:10 am
I actually like to read other opinions – in opinion pieces.
But I don’t like opinions thrown around in supposed news items.
And in my opinion, sloppy hysteria is rampant on the so called “news” shows, as well as plenty of conflicts of interests where items are presented as news when they are often promoting entertainment businesses. Are they paid for spots?
Vote:February 17th, 2010 at 11:15 am
Both TVNZ and TV3 need to reflect on what their role is – whether they should report the news, or whether they should create it.
Vote:February 17th, 2010 at 11:15 am
Why then, by TVNZ’s measure, did they take no interest in a certain MP’s shareholding in Windflow Technologies Limited? Frankly, if I were Key I would have said “So what? Now please foxtrot oscar”.
Vote:February 17th, 2010 at 11:19 am
The other shares are not unanswered you eternal moron. He listed them in his decdlaration. Get off you taxpayer funded arse and go read the dam thing. You being too lazy and drugged out to find information does not make it hidden.
For the love of god Farrar why do you let this utter fool have space here?
Vote:February 17th, 2010 at 11:21 am
I think by these standards DPF, you ought to stop blogging. There’s bound to be heaps of conflicts of interests if these are the standards we’re applying.
Vote:February 17th, 2010 at 11:23 am
…ya get more news outa womens day…tv 1 and 3 ” news ” take it up the blert..
Vote:February 17th, 2010 at 11:32 am
The same thing happened when the far-left nuts attacked anyone who held shares in Rakon – because their chips could be used for military purposes, any Rakon shareholder was obviously pro-war.
But why stop there? The military feeds its soldiers potatoes, so according to their “logic” potato farmers must be warmongers too.
Vote:February 17th, 2010 at 11:33 am
Is the head of news at TVNZ daft or what? I think so. It is not news if the PM invests in a mining company. It is not against the law to invest in a mining company.
Send all these idiots (managements and news reporters) from TVNZ to enroll in some tough courses at the University of Auckland School of Engineering so that they can get some neuron activities in their brains, because it’s obvious that they’re not working. Once they completed these neuron stimulating courses at Auck Uni Engineering School, they’ll come out better.
Vote:February 17th, 2010 at 11:35 am
of course..the big unasked/unanswered questions here..
..are ..
…’what other mining-shares does john key ..or any other pro-mining ministers..own..?’
I should have staked money on you being the first idiot.
Vote:February 17th, 2010 at 11:40 am
This pathetic beat-up by TVNZ is just further proof that their political reporter Francesca “Mo” Mould is not a neutral news reporter, but a sad biased hack who still hasn’t got over the fact that her beloved (but corrupt) Labour Party was turfed out of government at the last election.
Get over it Fran – you just make yourself, Shallow Dallow and the other dipsticks at TVNZ appear dishonest and untrustworthy.
Vote:February 17th, 2010 at 11:42 am
I do not know of any proposal to mine or even explore National Parks.
Vote:National Parks are specifically designated land and are so designated under specific legislation.
There is talk of exploring land in Class 4 land of the Conservation Estate but that is quite different. I do not believe any National Park Lies within this Class of land. The Conservation Estate is now close to 40% of the NZ land mass.
There are 14 National Parks and my guess is they would cover about 115% of the Conservation Estate and of course are the highest class land.
For example there are no National Parks in Northland but plenty of Conservation Estate.
Why can’t these “expert reporters” get the basics right?
February 17th, 2010 at 11:46 am
Sorry that should read 15% of the conservation Estate.
Vote:February 17th, 2010 at 11:48 am
Hey phil – do any Green party politicians have any investments in organisations specialising in environmental products or services?
Vote:February 17th, 2010 at 11:54 am
its bordering on defamation!
Vote:February 17th, 2010 at 11:59 am
I believe Jeanette invested in Windflow Technology.
This is a statement from Capital Investments Planning Ltd newsletter:
“Christchurch-based Windflow Technology is preparing to list on the Alternative Stock Exchange (AX) next week, and is pushing ahead with plans to build five more turbines even though a noise problem with its prototype has yet to be fixed.
Windflow recently raised $5 million in a rights issue with about two thirds of it coming from its committed shareholders. Windflow is the life’s work of wind turbine engineer Geoff Henderson and his float of the company last year caught the imagination of high profile figures like Greens Party co-leader Jeannette Fitzsimons who want to invest in clean fuels for the future and took part in the initial $2.5 million capital raising that has been spent on initial trials.”
Vote:February 17th, 2010 at 12:05 pm
John Key is a nice guy.
He is not really a politician,brought up in the rough and tumble of student politics,trade union or association advocacy and indeed the hurly berly of the House.
He is an easy touch for the tossers in the media and I think they know it.
Pongo and others are right ,no doubt the stunts at TVNZ are congratulating themselves on setting the so called agenda and will continue to dream of being the antipodean Woodward and Bernstein.
When will NZ get off this anti nuclear shit?
Dont we want Xrays etc Aren’t we proud of Lord Rutherford?
Tell you what I think it’s ‘sloppy’ having old Ernie on the banknotes,it might offend our anti nuclear sentiments.
And when it comes to nuclear, when we get the big one ,who’s going to tell the Yanks to fuck off with their dirty ships.?
Vote:February 17th, 2010 at 12:52 pm
In applaud the editorial independance being displayed by TVNZ
But this does not give them the right to act independantly with editorial stupidity
Vote:February 17th, 2010 at 12:53 pm
Espiner just made himself look like an over-gelled fool.
Well, more so than usual anyway.
Vote:February 17th, 2010 at 12:57 pm
This whole thing reeks of political bias. Where was the reports on Helen Clarks investments? Where are the reports on the remaining Labour and Green MP’s and their investments.
Vote:February 17th, 2010 at 1:11 pm
Fran Mold was dribbling at the opportunity of ‘outing JK.
Good grief What a load of BS. These journos and their editors wouldnt know the rules of governance if they slapped them in the face.
Time and again the NZ MSM shows a complete ignorance of the principles and protocols around the subject.
Vote:Suggest they go and find someone who actually understands these and stop putting their feet into their mouths
February 17th, 2010 at 1:23 pm
Bevan
“do any Green party politicians have any investments in organisations specialising in environmental products or services?”
I doubt it, they are more interested in ripping off the tax payer through MP’s housing allowances.
Vote:February 17th, 2010 at 2:13 pm
I have just proved that Jeanette did. See above.
Vote:February 17th, 2010 at 3:34 pm
Watching NZ TV news is depressing, it’s like happy hour at a early childhood center. Each passing day the fools become more and more irrelevant as the peasants log in to the alternatives. I guess tonight’s lead story will be back to the old favourite, polar bears suffering heat stroke or something equally as silly now that Mrs Mole has put the boot into Shonkey.
Vote:February 18th, 2010 at 2:02 am
+1 to the count of reasons why TVNZ needs to be sold. Running total: 62435
Vote: