News media statement
Monday 15 April 2013

Monday's partial asset sales float - "Its a (wheelbarrow) load of bullshit"

The opening day for applications for shares in Mighty River Power will be observed today with a wheelbarrow load of 'bovine excrement'. (See attached photo).

Anti asset sales protestors will be visiting some of the Wellington offices of stockbrokers and advertising agencies being paid up to a total of $100 million by the Government to implement its partial asset sales programme.

"The wheelbarrow will be delivered to one of the companies representing all the bullshit involved in the asset sales programme", says protest organiser John Maynard.

The protest group will move off from the Lambton Quay gates of Parliament 1.00pm Monday 16 April going along Lambton Quay to stockbrokers Forsyth Barr, the Ministry of Foreign Affairs and Trade, and public relations company Senate Communications.

"The Government has claimed that Mighty River Power and other state asset floats are for the warm fuzzie mums and dads. However the 2009 report of the Capital Markets Task Force reveals that it is stockbrokers who are driving the Government's asset sales policy.

"The share bonuses are a bribe, shareholdings will move overseas and power prices will increase along with directors' fees.

"Leaks from the secret negotiations of the Trans Pacific Partnership have revealed the power over the Government expected to be given to overseas investors in the partially owned power companies. Overseas shareholders in partially state owned power companies wanting to protect their profits and share values can subvert the New Zealand Government's law-making sovereignty by threatening to sue the Government under the secretive Investor States Disputes Settlement process of the TPP.

"Not satisfied with the Government listing Mighty River Power on the Australian Stock Exchange, company executives are travelling to Hong Kong, Britain and he United States to entice even further opportunities for foreign investment in Mighty River Power.

"The asset sales programme is based on a load of bullshit".

ENDS

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