The Air New Zealand directors who have brought that company to its humiliation should be falling on their swords says ACT Commerce spokesman Stephen Franks.

"As a country we call too often for more laws for accountability when simple old fashioned notions of honour would be a good start.

"The directors of Air New Zealand must know who among them, in addition to their former chairman who claimed the credit, is responsible for the Ansett catastrophe. They must know who, if any, opposed the decision, called for proper due diligence, asked whether the healthy local business and the efforts of thousands of hardworking New Zealanders should be put at risk on such a venture.

"So why are they all still sitting there, drawing their thousands of dollars per month?

"Pointing the finger now may seem the least important issue. Even so, there is a principle at stake. Shareholders and staff might get some comfort out of saving the directors' fees of those responsible.

"At least when boards were truly "old boys clubs", club notions of honour sometimes prevailed. Shareholders should not be left wondering what went wrong and who was responsible. Sir Selwyn should have resigned long before now, along with those who share the culpability.

"We should know also how far the government's blind eye towards Brierley domination is responsible. Months ago when the dithering started, and the company could have raised new capital at a far better price, the government should have used its Kiwi Share authority. This could have ensured that a sensible new capital raising was not being blocked by a company not even legally allowed to exercise control.

"More importantly it is time to restore some traditions of honour. They were more valuable than law, more valuable than "kiwi shares" and ministerial oversight, and more valuable than any length of regulatory fences at the tops of cliffs.

"The former chairman, and those who failed to stand up to him, should do the honourable and go immediately. This does not need to wait for any decision by an inexperienced government which has not done its duty," Stephen Franks said.

Ends

© Scoop Media

Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>