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04-05-2020, 03:44 PM
#3811
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04-05-2020, 09:57 PM
#3812
https://www.nzherald.co.nz/business/...ectid=12329317
Employer used $70k wage subsidy for other than payments to staff.
Company has gone into receivership and so, it's tough luck for the employees and taxpayers.
Scary to think how much of the $100k loans to businesses are going to disappear down the proverbial black holes. And we are talking $20 billions to $25 billions at stake!
Amateurs at work in Cindy's government.
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05-05-2020, 07:27 AM
#3813
Originally Posted by Balance
https://www.nzherald.co.nz/business/...ectid=12329317
Employer used $70k wage subsidy for other than payments to staff.
Company has gone into receivership and so, it's tough luck for the employees and taxpayers.
Scary to think how much of the $100k loans to businesses are going to disappear down the proverbial black holes. And we are talking $20 billions to $25 billions at stake!
Amateurs at work in Cindy's government.
The loan system has me a bit worried. I think all the wrong companies that do not know how to handle debt are going to get these loans and use the money for all the wrong reason. Keystone cops and if Stuart Nash or whoever is behind this thinks that companies know what they are doing and will act responsibly then pull the other one.
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05-05-2020, 08:12 AM
#3814
Originally Posted by blackcap
The loan system has me a bit worried. I think all the wrong companies that do not know how to handle debt are going to get these loans and use the money for all the wrong reason. Keystone cops and if Stuart Nash or whoever is behind this thinks that companies know what they are doing and will act responsibly then pull the other one.
I seriously doubt that there are many companies that do not know how to handle debt.
(Which is not to say that there are no companies that will misuse it.)
Last edited by fungus pudding; 05-05-2020 at 08:21 AM.
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05-05-2020, 08:44 AM
#3815
Originally Posted by Balance
https://www.nzherald.co.nz/business/...ectid=12329317
Employer used $70k wage subsidy for other than payments to staff.
Company has gone into receivership and so, it's tough luck for the employees and taxpayers.
Scary to think how much of the $100k loans to businesses are going to disappear down the proverbial black holes. And we are talking $20 billions to $25 billions at stake!
Amateurs at work in Cindy's government.
Tough to get the money out quickly and then hand hold all companies - would still be waiting for it to happen.
Better to work fast and accept some failure than have it grind to a halt.
Criticism whichever way it went was to be expected.
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05-05-2020, 09:02 AM
#3816
Originally Posted by fungus pudding
I seriously doubt that there are many companies that do not know how to handle debt.
(Which is not to say that there are no companies that will misuse it.)
Fair call, the ones I am thinking of are probably in the minority. But the temptation to take on more debt at 0 interest when you can not handle it must be palpable in this environment. I think there will be plenty of defaults. To be fair, having given it some thought, this is probably a better option than the helicopter money of the wage subsidy.
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05-05-2020, 09:20 AM
#3817
Bring Sir Roger back
https://www.stuff.co.nz/national/300...-covid19-shock
I like this line
"Douglas said it was an example of “the old maxim rendered true — there is never someone more socialist than a wealthy capitalist in a time of crisis”."
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05-05-2020, 10:13 AM
#3818
Originally Posted by dobby41
Roger Douglas - a politician who learned how to think. Unlike the vast majority who learn how to preach.
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06-05-2020, 08:27 AM
#3819
Originally Posted by fungus pudding
Roger Douglas - a politician who learned how to think. Unlike the vast majority who learn how to preach.
Yes,step aside Robertson?
https://www.nzherald.co.nz/business/...day+6+May+2020
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06-05-2020, 09:16 AM
#3820
Originally Posted by kiora
The Labour party of Roger Douglas's era wouldn't mesh well with the Labour party of Robertson's era.
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