Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Insider knowledge not normal 'business practice'

Media statement Friday, April 16th, 2004

Use of insider knowledge of tenders far removed from normal business practice

The Employers & Manufacturers Association (Northern) is distancing itself from reported claims by Auckland Mayor John Banks that making use of inside knowledge of tenders is 'normal commercial practice.'

The question has arisen how Mayor Banks could know in advance how much Government would have to pay for the city's two marinas to secure them for Auckland.

"Tenders are private and confidential and usually opened after closing by more than one person representing the vendor," said Alasdair Thompson, EMA's chief executive.

"There is no way the Ports of Auckland would have done otherwise.

"Yet in such circumstances it's hard to see how anyone would know what other tenders were being offered to buy Westhaven prior to its tender closing.

"That the Government appears to have been pleased to be party to this dubious outcome raises serious ethical questions.

"The Westhaven tendering process will damage the reputation of business and undermine our work at EMA to drive a positive attitude to business.

"The issue is amplified since public funds are being used to fund the purchase of a facility to benefit its private users.

"Westhaven is a wonderful asset which should probably be owned and operated by an incorporated society. But there is no point in Auckland city selling it's airport shares to buy the marina.

"It was appropriate for the Ports of Auckland to sell the marina as it is not part of its core business, but its not appropriate for Auckland City's ratepayers to own the marina as equally its not core business for the city.

"However the city is right to secure the waterfront from Queen Street through to Westhaven to maximise the public good aspects of the land's redevelopment, and this is what the city should focus on. The marina should be on sold to fund their development."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>


Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>


Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>


  • Bill Bennett on Tech