http://www.nzherald.co.nz/business/n...ectid=10851106
Bal, I think Brian Gaynor sums up why NZ'ers should have had a bigger allocation. Even if many did stag the issue then at least more of Kiwi Inc would have remained in NZ's hands.
Don't forget the Kiwi taxpayer has helped develop Fronterra over the last 40 years with tax breaks (remember the queen street farmers? South island roads?) and continues to subsidise their operations by paying for the infrastrcuture (e.g. roads and ports! home consumer subsidised electricity? huge costs paid for by rates in ensuring the diary farmers don't pollute NZ's waterways? Carbon tax?).
Would love to see a real "pay for what you use" policy applied to some of our big corps rather than expecting the taxpayer to fund it and then have the corporate mandarins give it away to their mates.
Frankly, this sort of behaviour sucks big time! No wonder the americans claim our diary industry is heavily subsidised. They're right! Subsidised by the kiwi taxpayer who gets right royally screwed at every turn!
PS. Stagged this. If I got my full allocation and the first days trade price had been below issue then Belgie would have been right royally screwed by a massive cash crunch and a small loss like he's never seen before! Very nervous few weeks and that's an understatement!