IFT - Infratil

[kiora]

What would this group want c.f. Auckland Council?
Look at comments

Mayoral Business Group to help deliver “transformation of our city”
https://wellington.scoop.co.nz/?p=160794

[kiora]

Or priority infrastructure?
OOpsy
What has the council been doing?Asleep at the wheel again?

"Wellington Water has admitted overlooking a budget error that has resulted in an extra last-minute bill for councils of $51 million over three years.

At a meeting of the Wellington Water Committee this morning, board member Pat Dougherty apologised on behalf of the organisation and promised an independent inquiry.

He told angry mayors and councillors around the table that Wellington Water was conscious that this came at a time when councils were coming to the end of the hardest long term plan process many had ever faced, with “terrible pressure on operating budgets”.

“It’s the worst time in 20 years to make a mistake like that, and the worst moment to find out about it,” he said."


Option :sell the airport to fix the broken water system !

https://wellington.scoop.co.nz/?p=160879

[maclir]

Or priority infrastructure?
OOpsy
What has the council been doing?Asleep at the wheel again?

"Wellington Water has admitted overlooking a budget error that has resulted in an extra last-minute bill for councils of $51 million over three years.

At a meeting of the Wellington Water Committee this morning, board member Pat Dougherty apologised on behalf of the organisation and promised an independent inquiry.

He told angry mayors and councillors around the table that Wellington Water was conscious that this came at a time when councils were coming to the end of the hardest long term plan process many had ever faced, with “terrible pressure on operating budgets”.

“It’s the worst time in 20 years to make a mistake like that, and the worst moment to find out about it,” he said."


Option :sell the airport to fix the broken water system !

https://wellington.scoop.co.nz/?p=160879

Nope. Wellington Water was at fault, not the Council, so why suggest they were asleep at the wheel.

[kiora]

Who owns Wellington Water?
"We're 100 percent council owned and funded and our job is to provide safe and healthy drinking water, collect and treat wastewater, and ensure the stormwater network is well managed."
https://www.wellingtonwater.co.nz/ab...are/our-story/

[maclir]

Who owns Wellington Water?
"We're 100 percent council owned and funded and our job is to provide safe and healthy drinking water, collect and treat wastewater, and ensure the stormwater network is well managed."
https://www.wellingtonwater.co.nz/ab...are/our-story/

a page that clearly states they're owned by a group of councils, but you stick to your narrative, mate.

[kiora]

No news yet?

"RetireAustralia back up for sale by owners Infratil and NZ Super for $1B+"

https://www.theweeklysource.com.au/f...z-super-for-1b

[Toddy]

No news yet?

"RetireAustralia back up for sale by owners Infratil and NZ Super for $1B+"

https://www.theweeklysource.com.au/f...z-super-for-1b

Did any of the fund managers ask questions around this on the investment call?

[kiora]

Did any of the fund managers ask questions around this on the investment call?

None that I'm aware of

[kiora]

"Why the WCC should sell its airport shares"

https://wellington.scoop.co.nz/?p=160833#more-160833

"The Wellington City Council has been consulting about selling its 34% shareholding in Wellington Airport, with a plan to invest the net sale proceeds in a new perpetual investment fund (PIF).
The income from the PIF would be paid to the Council each year for annual expenses (just as Airport dividends are now) and the capital would be preserved as a rainy day fund, perhaps to help with major earthquake damage.

Strong guardrails are proposed to stop the PIF being raided by this or subsequent Councils to repay debt, meet annual expense or funds other pet projects"

"If the money is in ~200 global shares then the value of, and income from, these will be unaffected by a local disaster."

"Equally, the returns on this diversified portfolio should match, and more likely exceed, the returns on the Airport shares. The shares have done well for the Council, increasing ~7x in value, plus dividends, since it declined to sell them to Infratil for ~$49.6m in 1998. But less well than if the Airport shares had been exchanged for Infratil shares, which are up ~15x in value, plus dividends over the same period."

[kiora]

"How big tech is crushing telcos - and what One NZ’s Jason Paris plans to do about it"

Well grounded CEO !

https://www.nzherald.co.nz/business/...GV3DGKEK6ZCUU/