IFT - Infratil

[macduffy]

There's an old American adage that most strikes occur because both sides want it.

Now it wouldn't be for bigger subsidies, would it?

[Anna Naum]

NZ Bus management quoted as saying they may lift the lockout ban.

[POSSUM THE CAT]

Toddy How come the other companies are paying their drivers $1.50 per hour more and more penal rates as well. The council should have just terminated the contract and bought the business for a song. Who else would buy it. And what are employment rules in place for if the employer objects to them obeying them. The management of infratil were crazy to pay over the odds to buy this business it was not for sale. But they made such a riddiculous offer that the owners said thank you very much. The sooner Infatil get out of buses the sooner it will be worth looking at as an investment again.

[Toddy]

Toddy How come the other companies are paying their drivers $1.50 per hour more and more penal rates as well. The council should have just terminated the contract and bought the business for a song. Who else would buy it. And what are employment rules in place for if the employer objects to them obeying them. The management of infratil were crazy to pay over the odds to buy this business it was not for sale. But they made such a riddiculous offer that the owners said thank you very much. The sooner Infatil get out of buses the sooner it will be worth looking at as an investment again.

I agree, the council should not have allowed this to continue. The council should have paid the extra that the drives wanted so that the public did not suffer. They don't have this problem in the Capital.

Bring on the Super City!

[AMR]

TA viewpoint:

Although it is right on support at the moment, the stock does not appear to be under buying pressure, and has completed a bearish pattern on a short time frame. Although longer term it looks better.

[peat]

i tend to think the resistance level at 1.70 ish will be stronger than the support level here at 1.63. I even found a bearish harmonic pattern. another test of lows imho. I'm not saying its anything to do with the buses either , although the current situation seems a bit farcical, its the tea leaves I'm reading and so my opinion should be regarded in that way

[POSSUM THE CAT]

Toddy why should council subsidise NZ bus more than the other companies that can pay their drivers more. To many high paid managers in NZ Bus & Infratil. I do not wish to pay extra rates to subsidize NZ Bus Just cancel the contract 7 they will come back begging to do it for 20% less as the Auckland branch of NZ bus would be worth stuff all without the contract.

[Toddy]

Toddy why should council subsidise NZ bus more than the other companies that can pay their drivers more. To many high paid managers in NZ Bus & Infratil. I do not wish to pay extra rates to subsidize NZ Bus Just cancel the contract 7 they will come back begging to do it for 20% less as the Auckland branch of NZ bus would be worth stuff all without the contract.

Sure you do Possum, you have always been a big fan of public transport.

[Toddy]

This is better PR for NZ Bus. In todays Herald.

NZ bus was offering the drivers too much money according to the independent ERA who was bought in to sort this mess out.

* Wage rates

Current rates: $14.05c to $16.75c an hour plus time and a quarter overtime.

What the company offered before the lockout: $1.80c an hour increase in three stages over 36 months - 70c now, 50c next year and 60c in 2011

What the Employment Relations Authority recommended last week: $1.40c in two stages over 30 months - 70c now, backdated to July, plus 70c in November next year

[Toddy]

ENE

The ENE board has recommended to reject an AUD $2.65 bid for the entire company. The board has also terminated the U.K/Europe bid.

As the economy has picked up since the initial offer the board is more bullish about ENE's prospects and does not want to give away the company.

The Board is now very positive!