Agency appalled at stock exchange chief’s reaction

Advertising agency appalled at stock exchange chief’s reaction

Christchurch-based advertising agency TimeZoneOne is appalled at the reaction of the New Zealand Stock Exchange to news it had stolen another company’s name.
NZX chief executive Mark Weldon was quoted in the Dominion Post today (Thursday 3 May) accusing TimeZoneOne of “publicity seeking” behaviour Mr Tattershaw said he was concerned by the flippant approach of Mark Weldon to New Zealand business and that his company was not publicity seeking at all.

“This is a lightweight, breezy and dismissive response by Mr Weldon to a legitimate business concern. It betrays his corporate arrogance towards small business,” he added.

Mr Tattershaw said he had gone to the media with the company’s concerns because he felt it was appropriate to advise the public, the business community and the Government about the inappropriate actions of the stock exchange.

As an experienced New Zealand business person, he believed the stock exchange should not just operate within its legal rights but it also had a moral obligation to behave responsibly.

“The New Zealand Stock Exchange may want to be carbon neutral but right now they are morally negative,” he added.

TimeZoneOne is a unique and established 22 person advertising and marketing agency based in Christchurch with a sales and project management team in Chicago.

The New Zealand Stock Exchange launched its new ‘carbon trading platform’ called TZ1, which stands for TimeZoneOne, amidst much fanfare on Tuesday even though the Christchurch company had already trademarked the TimeZoneOne name and TZ1 abbreviation.

“When we heard about the name we contacted them twice in person and they clearly advised us that they felt they were legally in the right and that they would continue to use our name,” Mr Tattershaw said.

“TimeZoneOne is not prepared to let this matter drop and will continue to fight for our name,” he concluded.

ENDS

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