Full Show Podcast: 04 September 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Pressing the newsmakers to get the real story.

Speaker 2 (00:04):
It's Heather duples Cy Ellen drive with One New Zealand
let's get connected you.

Speaker 1 (00:10):
Storph said, b.

Speaker 3 (00:13):
Hey, good afternoon, Welcome to the show coming up today
on the supermarket stats. We've got the grocery Commissioner on
what he can do, and we have the Minister on
what he can do. David Seymour has made his first
move in the ece red tape crackdown, so we're going
to speak to the Early Childhood Council and Matt Smith,
the actor, reckons that we're overdoing the trigger warnings on
the movies. One psychologist degree, so we'll have a chat

(00:34):
to him about that.

Speaker 1 (00:35):
Heather Duplessy Allen, it's a very very big.

Speaker 3 (00:37):
Call on the supermarket today. The grocery Commissioner has accused
them of ripping us off. Now a lot of people
will probably agree with that and we'll think, yeah, well,
what of it. He's right, But there is a difference
between you or I feeling ripped off when we're standing
in front of the olive oil and looking at a
price of thirty bucks, you feeling ripped off and turning
to the person next to you, and saying I'm getting

(00:57):
ripped off. As a completely different scenario, someone like the
grocery commissioner saying we're getting ripped off and saying it
on the radio. It's a very very big call for
someone like him to do that. He's got to have proof,
and he reckons he does. It's been two years since
the last government started cracking down on supermarkets, but instead
of things getting better in the last couple of years,

(01:18):
they're actually getting worse. The margins that supermarkets are making
of us are going up. They're not paying their suppli
as a hell of a lot more, but they are
certainly charging you and I a hall of a lot more.
That was not supposed to happen. That is the opposite
of what was supposed to happen. Just to say the
crackdown didn't work, now, that's not a surprise to anyone
with half a brain who was watching what the last

(01:39):
government did, because the minister was David Clark, Yes, David
who loves a mountain biker Clark. It was him, and
what he did to fix the grocery system was he
set up a grocery commissioner. He brought in a mandatory
code of conduct, he put compulsory unit pricing on groceries,
and he forced more transparent loyalty schemes. I mean both
thought that was going to make a difference. Isn't make

(02:01):
a rocket scientist to tell you that ain't gonna change nothing.
In fact, on this very show we said it ain't
gonna change nothing, it's not gonna work, and look, wow,
here we are. It didn't work.

Speaker 4 (02:09):
Now.

Speaker 3 (02:09):
Actually, I'm not pessimistic about the situation right because it
was clear that this like I'd baked this in what
I am thinking though, of all the things that David
the bike rider might have done, did or rather did
that might make a difference, he did set up the
grocery commissioner. And there's nothing like personal ambition and reputation
to motivate someone. And I get the feeling that Pier

(02:30):
van Heerden might realize that he actually does need to
get this right and sort this out for his own sake,
for his own reputation as the first guy to hold
the job. So I suspect that whatever comes next, whatever
he wants to do in order to fix the situation,
may in fact be more promising. And I am taking
heart from the strong language that he's used today saying
we are being ripped off. But as always time will.

Speaker 1 (02:52):
Tell together duplus Ellen.

Speaker 3 (02:56):
Ninetwen nine two is the text number. Standard text fees
apply and Peer van Heerden is with us himself. Half
to five o'clock now a young couple are fighting with
the police in court over two hundred and thirty thousand
dollars in cash that they found in the roof. So
what happened is they bought the house. Money was sealed
in plastic bags sometime before the couple moved in, and
as soon as they found it they handed it in.

(03:16):
Now the police say it's drug money and it should
be forfeited to the crown, but the couple think that
since they haven't they themselves haven't committed any crimes, they
should be allowed to keep it. Warren brook Banks is
a law professor at aut and with us. Now, hey, Warren, hi,
do you reckon? The cops have got a case.

Speaker 5 (03:33):
Well, unfortunately for the couple, I rather suspect they have
because it goes to the It goes to a legislation
called the Proceeds of Crime Act and the Proceeds of
Crime Act. The whole purpose of it is to ensure
that where money's discovered which is strongly suspected of being

(03:58):
the proceeds of crime, there is for it to be confiscated.

Speaker 3 (04:01):
So Warren, does it have to just be the suspicion
there doesn't have to be any proof.

Speaker 5 (04:08):
Well, no, there has to be proof and the for
the for the Broceeds of Crime Act to actually function,
and this is where it becomes problematic. Normally it would
require somebody having been convicted of a serious offense that
the money is related to, and where they can establish

(04:31):
a particular offender having been convicted of an offense and
this money is associated with that offense, then the Act
gives the power to the police to confiscate it and
so that it becomes the owned.

Speaker 4 (04:44):
By the state.

Speaker 5 (04:45):
It certainly depends on the person having been convicted of
an offense or a person who is suspected of a
crime having absconded so that the branch can't brace them.

Speaker 3 (04:57):
So the closest that the cops have come to any
kind of proof that maybe maybe there was some crime
going on is that the house was previously owned by
a family trust and one person who was a beneficiary
of the family trust who did have a conviction for
possession of cannabis five years ago, had known connections to
the mongrel mob. I would say that's pretty tenuous, wouldn't you.

Speaker 5 (05:15):
I would think it's probably pretty tenuous, because I think
there would be necessary to establish that that person is
the person who is in the police's sights, is having
committed a serious crime that the money is related to.
But of course, I guess the difficulty is actually making
that connection between the person who's been nominated and the

(05:38):
commission of a particular offense that the money has been
derived from. So it's a difficult one because as a
general matter of law, where property is abandoned and there
is no prospect of finding the owner and the person's
made reasonable efforts to identify the owner, normally the property

(05:58):
would defer to that person and as the as the
lawful finder. And obviously that that would have been the case.
Hef if, for example, it had been something like a
gold brooch that had been in the house for a
long time there was no possibility of tracing the owner
in all like that, that would have evolved to the

(06:19):
to the new owners of the house as their property,
provided they'd made honest efforts to find out who the
original owner was. But this is in a different league
because of this is a significant sum of money which
is clearly up there for no good purpose and is
presumptively the product of serious criminal affair.

Speaker 3 (06:38):
You're making an assumption there might have been an old
lady there who was like a conspiracy theorist and didn't
like banks.

Speaker 5 (06:45):
Yeah, well, you're right, I mean, that's that's that's true.
That is a possibility. So in a case like this,
the crowding that the police are going to have to
work very hard to establish a link with a probable
offender who was involved in the in major crime, drug
dealing particularly, and that for that reason it's just for

(07:06):
a forfeiture order to be made in favor of the police.
But I can see why the copy wanted to continue.

Speaker 3 (07:14):
Can't they just mount the argument the cops are being
dicks about it? I mean, because like these they're young people.
They found two hundred and thirty thousand dollars, they didn't
do anything wrong, finders keepers what a win for Why
don't the cops just let them hand?

Speaker 5 (07:26):
Well, you're right, you're right, But I mean, we have
a system of law that depends on the law being
applied fairly improperly, and we have an act, the purpose
of which is to ensure that we're a money which
has been obtained through crime is forfeited. Yeah, and so
that's the policy issue, you know. And emotionally we feel
very sympathetic to the young couple, but unfortunately the law

(07:48):
doesn't reflect the same degree of sympathy because of the statute.

Speaker 3 (07:52):
Warren, I appreciate your time. Thank you for talking us
through at Warren brook Banks aut law professor. What's the lesson?
If you find the cash, don't tell the cop. That's
the lesson in this I think this is going to
backfire on the mind. I think they should have just
let the young people have it. Anyway, got the Aussie
GDP numbers out today, which we were expecting, and it
has grown by the tiny amount that basically many of

(08:12):
the banks were forecasting zero point two percent in the
second quarter, and that comes after zero point one percent
in the first quarter. Now that doesn't look flash unless
you're from New Zealand, which case you're like, oh, that's
pretty good. A little bit of growth is a hell
of a lot better than three recessions and two years.
Am I right? And this is going to be. This
is what we were talking about with Paul Bloxon when
he was on the show yesterday just after half past

(08:32):
six in the evening. This is going to be. The
interesting thing that we are going to be able to
kind of monitor and observe in the next few years
is that our Reserve Bank has taken a completely different
approach to fighting inflation from the Australian Bank. Our bank
decided go hard, go fast, fs a recession, get on
top of that inflation right. The Australian Reserve Bank decided

(08:55):
the best thing was just to hold it as just
try and try and get on top of the inflation
without going into recession. And they're coming as close as
possible to not going into recession, but really walking that
line very very carefully. And it's in years to come
that we'll be able to tell which is the better approach.
I actually I actually don't know, and nobody actually knows.

(09:16):
So it's gonna be fascinating to watch sixteen past four.

Speaker 2 (09:19):
Digging deeper into the day's headlines, it's hither Duper c
Allen Drive with one New Zealand one giant leap for business,
youth dogs at b Sport with tab get your bed
on R eighteen bed.

Speaker 3 (09:32):
Responsibly hither A friend's mother had her funeral money under
the carpet and her wardrobe, but only told them a
few years later and a few homes later. So that's
going to be a nice fine for someone there. Ego,
it might have just been might have just been somebody
who'd married an anti vaxer and gone anti banks and
then headed up in the attic. And now we've resumed
it's the mongerl one.

Speaker 6 (09:52):
I have to be an anti vaxer, not like Banks.
I mean, I'm a pro vaxer. I don't like Banks either.

Speaker 3 (09:57):
I don't know. I just felt like that added to
the drama of theorry, didn't it.

Speaker 6 (10:00):
Isn't it a good story?

Speaker 3 (10:01):
It's a great Yeah. No one's dying, there's no one
to take my Unfortunately.

Speaker 6 (10:08):
I have a strong moral compass, and I would go
to the police and take it to them. Possibly I'd
take a hundred dollars and go and get on the
lash beforehand. And so it's only a hundred bucks.

Speaker 3 (10:17):
Oh my gosh, for God's say, can you just please
take a thousand there's two.

Speaker 6 (10:23):
Okay, a thousand bucks. Then go to the casino. Maybe
take it all, bury it in a hole, sell the house,
disappear three years.

Speaker 4 (10:31):
That's what I.

Speaker 3 (10:33):
Now. What you do is you go to the casino
and you buy chips with it and then you launder it.
So now it's now it's casino winnings. Nobody can prove
it's not that right, So now it's yours legitimately.

Speaker 6 (10:45):
But what if someone comes back to the house, who
you are? They go the X owner was bla, So
how to move move? A problem with being the criminals
is they're not smart enough to think of the repercussions.
So if you immediately did that and then I feel
like the.

Speaker 3 (11:01):
Mungral mob are not smart enough to track you down
in Australia. So as long as you live in Australia, well,
I don't know. You've got two hundred and thirty thousand
dollars is a little incentive laundering? Sorry, explained something to me. Okay,
So the All Blacks and South Africa have basically confirmed
that they're going to do tours of each other's country
were alternating every four years, and it's going to be
signed shortly. Why is this a problem for the Rugby Championship?

Speaker 6 (11:23):
Well, it depends on the frequency of games being played
and how it sits in the calendar. That's the biggest
issue world rugby've got. They've got so many different championships
and competitions that they've got a shoehorn into a limited
amount of time. So an inbound two and an outbound tool.
Where exactly does it fit? Does it become part of

(11:46):
the Rugby Championship? And those two games or three games
against South Africa two of them count, two of them, don't.
I don't think it's beyond control because I think most people,
especially people of my vintage and beyond who actually experienced tours,
we want something like that. It's too slick now, it's
too packaged up, turn up, wam bam, Thank you man.

(12:06):
If you go and leave, Yeah, there's something about the
anticipation and the momentum that you get out of a
tour that really it builds a wonderful narrative and I
think it's great for.

Speaker 3 (12:18):
The problem also for the Rugby Championship that the other
two teams that we play against being Australia and Argentina
kind of or Argentina lesser, but Australia suck. So if
you're going to So you basically got the two best
teams of the Rugby Championship playing each other already. Why
a you're gonna watch the Rugby Championship.

Speaker 6 (12:33):
What we need to have happen is a reconstruction of
the entire international program. And I don't know there's anything
wrong with going back to the days where tours are there.
It works on so many different levels. It works on
bringing the new players through understanding on a tour is
what it's like to be an all black. When the
South Africans come here, they go up and down the country,
up and down the whole Watsu, and they spread and

(12:56):
there's a lot of South Africans living over here, so
they get to go and watch a provincial and see
the guys play. I can't see a poor point around
the brilliant. Josh Confeld is going to join us so
later on the piece to talk about he was. He
was there back in ninety four when Otago beat the
Spring Blogs and of course he's over that last successful
too and ninety six as well.

Speaker 3 (13:16):
Good stuff and also good we're getting rid of that
flavor saver looks tidy. Oh yeah, now you just look
Burt Reynolds. Yeah, you like that, Bert Reynolds, It's not bad, Mauz.

Speaker 6 (13:24):
If you're listening, I'll put another photo on Insta for you.
Oh jeez, I think you mustn't talking us.

Speaker 3 (13:29):
Muzz muzzle on the text machine. Hey, he's already, he's
already texting you. Thank you, Jussie appreciated for twenty three.

Speaker 2 (13:38):
Heather Duplicy Ellen cutting through the noise to get the facts.
It's hither Duplicy Allen drive with one New Zealand. Let's
get connected and news talk as they'd be.

Speaker 3 (13:48):
Hey, do you remember Reagun? Oh we're not done with
Reagun yet, are we. This is Raygun. I'm a kangaroo
the Breakdown? Soer do you remember that she's apology to
the breakdancing community. She's done an interview it's going to
air tonight on the project in Australia.

Speaker 4 (14:07):
It is really.

Speaker 7 (14:09):
Sad to.

Speaker 8 (14:12):
Hear those criticisms and I am very sorry for, you know,
the backlash that the community has experienced. But I can't
control how people react.

Speaker 3 (14:24):
Well, I mean, you could do a better performance, because
don't forget she got at this year's Paris Olympics.

Speaker 1 (14:31):
Zero Do you genuinely think you are the best female
breaker in Australia.

Speaker 8 (14:36):
Well, I think my record speaks to that.

Speaker 9 (14:42):
Does.

Speaker 3 (14:44):
What I love about Ray Gunner is she's not backing
down a she's owning it. She's owning it anyway, so
you can enjoy that later on when the full thing
comes out. As we all are, Hey, there's a cocktail
called the Honey Juice, which is vodka lemonade and raspberry
Liqueur plus little Melon Bulls Melon Mellen Bulls say it properly,
not like a kiwi. It is just taking off at

(15:05):
the moment. In the US. We're going to talk to
our US correspondent about it shortly here. The many years ago,
while renovating our house, my husband took down the pelmets
and he put them outside in a week later clap
them together as he put out in them out and
the trailer and out fell six hundred bucks and we
used it for renovations. See they might have just been
storing it up there for some reason. Headline's next.

Speaker 1 (15:30):
Hard Questions Strong Opinion Heather due for see allan drive
with one New Zealand. Let's get connected and news talk
as it'd be right.

Speaker 3 (15:50):
Logan Church out of the US is with us shortly
and Barry Soper on politics. In ten minutes now, David
Seymore was announced the first part of his red tape
cutting for early childhood centersm at around you through those
details shortly here that I know of a landlord who,
after his tenant went to jail for growing cannabis, moved
back into his commercial building. After two months, he remembered

(16:11):
that a wall which was there had not been there
two years earlier when he'd rented out the building. So
he ripped it out and he found a Porsche hidden
behind out. Turns out it was being hidden from a
finance company and so it had to be returned. It's
an unfortunately end to that story, but up until that
it was pretty got a twenty four away from five,
it's the.

Speaker 1 (16:27):
World wires on News talks ed be drive.

Speaker 3 (16:30):
Oldi's economy has grown by only zero point two percent
in the second quarter of this year. The country's total
GDP growth for the twenty three to twenty four financial
years the lowest annual figure since nineteen ninety one. And
here's the Aussie Treasurer Jim Charmers.

Speaker 6 (16:43):
I've acknowledged I think I've been really upfront with people.

Speaker 5 (16:45):
We understand people are doing it tough, and that's why
we're rolling out this substantial and meaningful and responsible cost
of living relief.

Speaker 3 (16:52):
Vladimir Putin has made his first visit to a member
country of the International Criminal Court since the court put
the warrant out for his arrest last year. He's visited Mongolia,
and technically he should have been taken into custody by
local authorities as soon as he got off the plane,
but of course this didn't happen. A Eurasia Program policy
analyst says Putin was never in any danger.

Speaker 9 (17:11):
Mongolia is a country with a tiny population sandwich between
Russia and China, entirely dependent on Russia for its oil imports,
and which also leads Russia to balance against China, which
a country bit of Mongolia fears. So I mean Mongolia
does like to arrest boost him as Guatemala or Costa

(17:31):
Rica would be to arrest by.

Speaker 3 (17:33):
And finally, I've got a new TikTok trend for you.
And you know how I think these things are stupid,
so brace yourself for this one. Some users of TikTok
are trying to recreate the twenty eleven smartphone game Temple run,
but they're trying to do it in real life, so
that posting videos of themselves running through the ancient temple
anchor what in Cambodia, just like a character in the

(17:54):
game does. Cambodia's Prime Minister is stoked that his country
is getting free publicity. For some local historians are worried
that the TikTokers might break something and I'm hopefully, I'm
hoping that they might hurt themselves.

Speaker 2 (18:05):
International Correspondence with Ends and Eye Insurance, Peace of mind
for New Zealand Business.

Speaker 3 (18:11):
Logan Chair to US Correspondence with US.

Speaker 1 (18:13):
Hey Logan, good evening.

Speaker 3 (18:15):
Hey, so we've got the new semester starting in the
Gaza process are going on again, are they?

Speaker 10 (18:20):
Well, you'll recall the heavy protesting earlier in the year,
which of course results in one of the campus buildings
been storms by protesters and occupied before arms police broken. Now, actually,
until a couple of weeks ago, I actually lived a
couple of blocks down from Columbia University, and there was
a time where every night we actually couldn't get to
sleep because of the police helicopters hovering over the upper
West side or the sirens from the cop cars going off.

(18:43):
But now there is of course a new semester sizing,
and we are seeing new protests the same cause, calling
for the university to divest from companies with links to Israel.
These protests have however, been somewhat smaller, and security is
so much time. For example, you used to be able
to just wander through the campus and have a look
around as a member of the public, but now you

(19:05):
have to show students ID or staff ID and there
is a very heavy police presence around the campus. There've
also been a couple of arrests, so a very different
stance to a semester than what someone might have expected
not too long ago.

Speaker 3 (19:18):
What are the cops going to do? Are they going
to just maintain a presence but not actually crack down.

Speaker 10 (19:23):
That is the plan that this stands. But as we're
seeing in the last couple of weeks, they're not afraid
to make arrest. They are going to try and avoid
the situation which we saw earlier in the year, which
were large numbers of students occupying not just the site
but also buildings as part of the Columbia University campus.
They're going to want to try and make sure that
the university business can continue and that the education there

(19:47):
can go on. But certainly a big increase in police
and security presence on that site, even compared to a
couple of months ago. It's been a very quick increase there.

Speaker 3 (19:58):
What do we know about this Chinese spy who was
busted working for the New York governors.

Speaker 10 (20:02):
Yeah, he but this is probably the most spectacular schedule
I have seen in this state. So, a former staffer
to the New York governor was arrested today for being
a Chinese communist spy. Now, according to the official court
documents that were released, Linderson was working for the Carrington
previous governor officers of New York while also working for

(20:23):
China and receiving luxury gifts. Now what luxury gifts, you
might ask, Well, that included a multimillion dollar home in
a glitzy Long Island suburb, a holiday home in Hawaii, ferrari,
a range, drove tickets to events, and even now this
is my favorite salted ducks prepared by a Chinese government
officials personal chef. This is all, of course, alleged in

(20:44):
court documents. Now, in return, she was accused of boosting
New York politicians relationships with China and also allegedly interfering
at attempts by the Taiwanese government to engage with the
New York Governor's office. Now she has pleaded not guilty today,
although it was fired in March last year, but of
course a big embarrassment for the New York Governor's office.

Speaker 3 (21:04):
Now totally. Have you tried, by the way, this honey
juice that everybody's drinking.

Speaker 10 (21:09):
Yes, well, that is, of course at the US Open.
And as you know, I've been at the US Open
a lot this past week, and oh boy, oh boy.
One thing of lads, our professional tennis in America is
that fans love to drink, and that cocktail, the honey Juice,
or in America the honey Deuce, has been increasing in popularity.
Now last year they sold more than four hundred and

(21:31):
sixty thousand of these cocktails at the US Open, and
they're expecting to sell more this year. All for the price.
And I hope you're sitting down of thirty seven New
Zealand dollars for one cocktail now that includes vodka, lemonade,
rasby Liquia and three pieces of honey. Due mellon, Now
to your question, have I partaken in said cocktail. Well,

(21:52):
I confess I haven't tried it, but very much on purpose,
because if I did, I suspect no one at one
News will be guessing any tennis coverage from me any time.
So given how much money they are making, it's surely
a half decent Logan.

Speaker 3 (22:05):
Please please promise me that just one time, you'll, just
when you're finished with you work, you will go and
have one of these things and then tell us how
awesome it is, or otherwise.

Speaker 10 (22:14):
I'll do it just for you. Hither I want to
tell anyone else at my work.

Speaker 3 (22:17):
Thanks you, and I'll set up and give a little
page in the meat time to pay for it. Logan,
thanks very much, mate, Logan Church you is correspond Okay,
this is what has been Oh hold on it Zech,
excuse me, Heather. When my granddad died ten years ago,
we found rolls of fifty dollar notes all over the
place when we're getting the house and the farm ready
to sell. They were under the carpet, they were in
the old gum boots, they were in the wool shed,

(22:38):
all over the show. We found thousands, and I reckon
we didn't even find all of it. That's from jerum.
So there you go. Look, this is not I'm not
being mean to old people when I say this, but
sometimes towards the end of their lives they can get
a bit funny about the money and start to do
weird things with it, and so you can't the cops
cannot rule out. But it wasn't just an old person
who was stashing her cash up in the sea. That's

(23:00):
what I'm saying. I think a very strong defense in
court for that young couple. I would be going with that.
You're welcome anyway. So David Seymour, he's announced what he's
going to do with the early childhood centers. Right, two things.
This is the first tranch of his red tape cutting.
The first thing he's cutting is that at the moment,
early childhood centers can use a non certified teacher, but
only for up to eighty hours and only as long

(23:21):
as the ec center has first tried to find a
certified teacher. So they have to go through the whole
game of pretending that they're trying to find a certified
teacher when they know in some places they're never going
to be able to find one because it's a remote
area or whatever. It's just a pointless exercise. It wastes
their time. That rule's gone. From next month. Number two,
all relief teachers have to be paid pay parity salaries

(23:43):
at the same steps that the permanent teachers are paid. Now,
the problem with this is that it actually incentivizes teachers
therefore to be relievers and not permanent staff because the
EC centers need them desperately. Because I don't know if
you've been to an EC lately, but they're all running
relievers the whole time. And so because they need them,
the reliever's got the upper hand. They can charge the

(24:05):
top dollar and they do, which means that they are
incentivized to continue to be a reliever and not a
permanent staff member. And so that's changing. And from next
year the pay parody steps rule only applies to the
permanent stuff, which hopefully will mean relievers will go back
to being permanent stuff. We will talk to the ECE
Council or the Early Childhood Council after five o'clock ten
past five with thereabouts about it very sobers next sixteen

(24:27):
away from.

Speaker 2 (24:27):
Five politics with centrics, credit, check your customers and get payments.

Speaker 3 (24:32):
Certainty Barry Soper, Senior political correspondent with US.

Speaker 7 (24:34):
Hello, Barry, good afternoon.

Speaker 3 (24:35):
Okay, there's a Royal Morgan opinion poll out run us
through it.

Speaker 11 (24:38):
Well, yes, the National Party, it's increased three and a
half percent. It's up to thirty six percent, nowhere near,
of course, the forty five percent that Simon Bridges commanded
all through his leadership and opposition. Nevertheless, there you have it.
Support for Act that dropped one and a half percent,
down to nine and a half percent. And you Zealand

(25:00):
first it was up just one percent to seven and
a half. Support for Labor that was down two and
a half percent. Essentially, what it says is that the government,
the coalition government that got the treasury benches at the moment,
they would comfortably go back. But the thing that interested
me is the gender gap between the support for the

(25:23):
coalition government and for the other side. Well, if you
look at the coalition support, sixty three percent more than
men are behind.

Speaker 3 (25:37):
So it's predominantly males. Males like the coalition government and
females like the opposition. As that basically is.

Speaker 11 (25:43):
Oh totally. In fact, I said sixty through sixty six
percent of men aged over fifty they support the coalition government.
And if you look at women of the same age, well,
they're supporting the other way. Under sixty percent they're supporting
the other way. What's the condition fifty seven fifty seven

(26:04):
point five. Yeah, so really there is a big gender gap.
But if you look at younger men that's under fifty
eighteen to forty nine, the edge for the governing coalition
is sixty one percent in support of and thirty percent
the other way, which is a gap of what thirty

(26:26):
one percent?

Speaker 3 (26:26):
So you know how many women small and general government.

Speaker 11 (26:31):
With women the stronger younger women eighteen to forty nine A,
they're on fifty seven point five percent supporting the coalition
as opposed to thirty nine point five supporting the coalition government.
So yeah, the gender gap runs all the way through
from the younger to the older. And I guess now

(26:52):
you'll you'll get the pundits looking at the National Party
and saying, how can we improve image for women?

Speaker 3 (27:01):
Because yeah, and the thing is women are actually more
important arguably than men in terms of no no, no, no, listen,
hear me out on this, in terms of voting intentions
because often the women in the house influence what the
influences what everybody else does. This is a thing you
go and have a look at it. This is why
you'll see a lot of the campaigns will actively target
the female voter because she is an influencer.

Speaker 11 (27:23):
So you reckon when it comes down to the vote
going into the ballot box, that things might change, that
these statistics won't be quite the same.

Speaker 3 (27:30):
No, I I don't know. I don't know. But the
only way that I think that you can target the
female voter if you're the coalition government is by softening
up your policies and by becoming less hard and well
then if you do that, then you just become you
become another government that does nothing right. Yeah, because you're
not prepared to be bold about it. So I'm not
really sure that they can take that risk anyway. Grocery

(27:52):
Commissioner is not happy with the supermarkets. I get the
feeling that he may actually be lining up to do
something here based on the rehetoric.

Speaker 11 (27:59):
Well, absolutely well, I don't know whether the Grocery Commissioner will,
but certainly the government looks set to do something. That
they found that all three major supermarket groups have increased
their margins over the past year, and that profitability has
either been maintained or increased. Now the suppliers, it's not

(28:21):
increasing money to the suppliers as much as the costs
on the consumer, and that's the big concern.

Speaker 5 (28:27):
Now.

Speaker 11 (28:28):
That was the first grocery report from the and I
know you're going to be talking to the Grocery Commissioner,
Peir van Herden. But Andrew Bailey, the Commerce Minister, he
says that essentially it's a concerning picture and it's a
twenty five billion dollar industry we're talking about here, and
most people, well everyone has a dealing with the supermarket

(28:51):
at some stage. And he said clearly there needs to
be stronger regulatory action coupled with an ambitious and an
economy wide meeting schedule with these groups. But look, this
comes at a time when the Commerce Commissioners looking at

(29:12):
the foodstuffs merging their North Island operation with their South
Island and the key to the merger will be competition. Well,
when you have a merger, you don't have competition. So
you know there's two I guess too many groceries in
the hands of too few.

Speaker 3 (29:30):
Yeah, I can't see that they're going to wave that
one through. It doesn't look like it have very quickly.
Barry the fact that Christopher Luxon hasn't raised the canceled
fairy project while being in South Korea suggests the South
Koreans are annoyed with us.

Speaker 1 (29:42):
Well, you know they are annoyed of course.

Speaker 11 (29:45):
Hyonda the people that are carrying out well, we're carrying
out the contract was a big contract with New Zealand.
They are obviously very annoyed. And the Maritime Union here
says it's discussed and angry that he had no plans to
meet with this company whilst he was there. But his

(30:05):
fokespeople say, well, you know he's leading a trade mission
and as such the trade mission, you know, it doesn't
cover this sort of thing. And they are at Philly
critical stages, I would imagine in the negotiations on how
they haven't been told yet how they're going to pay
to get out of this contract.

Speaker 3 (30:23):
Break fee. Yeah, good point, Barry, Thank you very much.
Barry Soper, Senior Political correspondence, coming up seven away from five.

Speaker 2 (30:30):
Digging into the issues that affect you the Mic Hosking breakfast.

Speaker 12 (30:34):
The Minister argues everybody submitted wanted it, did you submit it.

Speaker 7 (30:40):
And did you ask for an Inquesse No at.

Speaker 12 (30:43):
They're doing the usual gala reception and you know, we
love you and extra business and trade and stuff like that.
I'm assuming put you and got a reassurance before we
landed in Mongolia that nothing would happen. It's it'll be
interesting to see, if anything, what the ICC do back
tomorrow at six am the mic Hosking Breakfast the Jaguar
f Pace.

Speaker 1 (31:00):
As used talk ZB.

Speaker 3 (31:01):
Hither, you're talking a lot of rubbish tonight. No way
could I influence my husband who to vote for herether.
Women may influence left wing voting in lower socioeconomic homes,
but not in the higher ones in my honest opinion.
That's from Connell, And so it goes. I don't know.

Speaker 13 (31:14):
I don't know.

Speaker 3 (31:15):
I think give give it a go. Why don't you
do an experiment in the upcoming election or the local
body elections and ladies, ladies, try it on, or dudes,
listen to the ladies and see what you think if
you actually prefer their opinion, because you will actually find
and this is probably something that's happening you're not even
aware of. Women are influencing a lot of the decisions
in the House already where you go on holiday, where

(31:38):
you bought your beach house, when you go on holiday,
what brands you buy, what power company you're going to,
is like heaps of that stuff's already done by women.
So you probably guys probably just turn their brains off
and let the ladies tell you how to vote. Just saying,
just say, there's nothing wrong with that. We are the
better speece, we're the better gender. We know this right
because we're stronger. We do all the hard stuff like

(31:59):
have babies and stuff. Just saying anyway, just rubbing it in,
just saying, anyway, I am I am trying to wind
you up and let it go now. Sorry, anyway, Listen
on something completely unrelated which will maybe also make you angry,
but not to the same extent. Apparently, the kiwi and
the more and the Tarka hair we can't even claim
these birds as our own. Apparently they all came from

(32:21):
Australia a few million years ago. And this is according
to some researchers doing some excavation work. I think it's
in central Otarget that they're digging this stuff up out
of the ground or something. Anyway, what they found is
that the Kharkaport is actually the only true New Zealand bird,
which I'm not unhappy about because it is a beautiful bird.
So I'm gonna take that one, thanks very much. And
also crocodiles used to be here all those years ago.

(32:44):
We're gonna have a chat in about twenty minutes to
one of the guys who's actually doing the hard work
on this, Pierre Van Hidden, the Grocery Commissioner, is going
to be with us next. He has said we are
getting ripped off by the supermarkets, and I want to
know what he means by like, does he actually mean
ripped off, because that's a big call. So we have
a chat term shortly News Talk ZBA.

Speaker 2 (33:09):
The only drive show you can trust to ask the questions,
get the answers, by the facts and give the analysis.
Heather dupless elan drive with One New Zealand. Let's get
connected and news Talk as z'd be.

Speaker 3 (33:30):
Afternoon. The first annual Commerce Commission report into our supermarkets
has found no meaningful improvement in competition. It has been
now more than two years since the ComCom and the
government first started cracking down on supermarkets, but instead of
things getting better, they've actually got worse. Per Van heerden
is the grocery commissioner, Hope Pierre Hi Ever, you've said
that they're ripping us off. How are they ripping us off?

Speaker 14 (33:53):
Well, when we look at the report, their margins have
actually increased over the last period, the profitability is still high,
and they've still got major dominance in the industry. So
when we combine all of those things, we can see
that competition isn't working the way it should be.

Speaker 3 (34:12):
So are you saying that they are extorting us.

Speaker 14 (34:16):
I wouldn't go as far as saying extorting, but that
are making more margin.

Speaker 3 (34:21):
Yeah, So is that ripping us off by making more
money off us?

Speaker 4 (34:26):
Yes?

Speaker 7 (34:26):
I believe in competition.

Speaker 14 (34:28):
If they are making more than is accepted overseas, that
QI consumers are paying too much and KEI consumers deserve better.

Speaker 3 (34:40):
How much more are they making off us than is
accepted overseas.

Speaker 14 (34:44):
I don't have the figure with me right here, but
from memory, the return on assets is about eleven percent
versus five and a half.

Speaker 7 (34:53):
Six overseas, so it's like double.

Speaker 14 (34:56):
Yes, it is quite a significant difference between what's others
overseas are making where there's more competition than what's happening
in New Zealand, how much of.

Speaker 3 (35:07):
The margin's gone up by.

Speaker 14 (35:10):
The margins have gone up by about three percent when
we look at the different ones. Fruit and veggies has
gone up about zero point four percent from memory, So
overall they've gone up. And when we say the margins
have gone up, this is the difference between what the
suppliers are charging to the supermarkets with their inflation and

(35:35):
what the supermarkets have increased their prices by.

Speaker 7 (35:39):
So that margin has increased.

Speaker 3 (35:41):
Ah, So it's not so the suppliers are getting a
certain amount of money and yet we as consumers are
getting priced over and above that, and that's going up.
That gap is going up.

Speaker 14 (35:53):
That is correct, okay, because we do have inflation and
we've got to recognize that. But you know, in a
competitive market, you'd expect that those margins are constrained.

Speaker 3 (36:06):
Now, Pierre, the problem is this is not no surprise
to me at all, because when the government did the
crackdown on supermarkets, it was never going to work, right,
It was too lily lived, it was weak. So it
hasn't worked. It's not going to work. What are you
going to do to change things?

Speaker 14 (36:22):
What we're doing is we've got quite a few powers
that haven't been unlocked yet, and we want to make
sure that we unlock all of those.

Speaker 3 (36:29):
What are those powers once?

Speaker 14 (36:30):
Once we've used that, then we can say to the government,
this is where we're at, and then they can make
a decision what they want to do from there.

Speaker 3 (36:38):
What are those persons?

Speaker 7 (36:40):
For instance, if.

Speaker 14 (36:41):
I take the wholesale side of things, we've got to
do a Section fifty six inquiry in order to unlock
what it's called the backstops, so where we give a
report to the minister, and the Minister then says to
the wholesalers that you've got to supply to other old
sailors at the same price that you supply to your

(37:03):
own stores.

Speaker 7 (37:04):
That's one of the backstops.

Speaker 4 (37:07):
On the supply code.

Speaker 7 (37:09):
What we're doing.

Speaker 14 (37:10):
It's been in force now for five months. We see
it's not working the way it was intended to. There's
some advantages already, but we've taken early actions. So with
all of these we're actually getting ahead of the game
and starting early to make all of the improvements to
the system. There's no one silver bullet. If there was,

(37:31):
it would be very easy. There's no one silver bullet,
so we've got to use all of these different tools
to their maximum effect to try and get change within
the injury.

Speaker 3 (37:42):
How long will it take you to get this stuff done?

Speaker 14 (37:45):
Well, when we look at overseas, Australia and Finland. In
Australia without a regime like we have, it took LD
ten years to get to ten percent of the market share.
In Finland, Legal also ten years to get to ten percent.

Speaker 7 (38:02):
I don't believe we have ten years.

Speaker 14 (38:04):
No one is wanting to sit around, and no consumers
specifically wants to sit around for ten years. We have
a unique situation and that we've got a world first
in this grocery regime that we want to use to
pull all those levers. See what we can get done,
See if we can get another player in the market,

(38:24):
improve competition, and I think when we look at geographic
areas like Auckland, there's actually been a decrease already in
the concentration of the major grocery supermarkets by about four percent.
So it shows me that if competition is working and
even the smaller and slightly bigger like Costco come in,

(38:49):
they can have an impact. And I believe we can
change things within our industry.

Speaker 3 (38:56):
You can't let the merger go through at Foodstuffs with
the stuff going on, can you.

Speaker 4 (39:01):
Well?

Speaker 14 (39:01):
Ever, you know I comment on that at the moment
we are in the process of reviewing it and the
decision on that will come out on the first of October.

Speaker 3 (39:12):
All right, peer, thank you, I really appreciate your time.
That's Pervanhead and the Grocery Commissioner. Now a lot of
the power will lay in the hands of Andrew Bailey,
the Commerce Minister. He's with us after six o'clock thirteen past.

Speaker 1 (39:22):
Five together do for CEL.

Speaker 3 (39:24):
David Seymours announced the first red tape that he's cutting
from early childhood centers from October. Pay parity will only
apply to permanent, part or full time certified teachers, not
to the relief teachers, and eces will not have to
try it, will not have to prove that they tried
to find a certified teacher before hiring a non certified teacher. Now,
the Early Childhood Council CEO, Simon Laber is with us now, hey, Simon, Hi. Ever,

(39:46):
so the pay parity thing applying to the relief teachers,
it seems to me that this is going to incentivize
them to stop being relief teachers but actually become permanent.

Speaker 13 (39:54):
Is that the plan you've got to bang on, Heather.
That's absolutely right. And I think the other point is
why were they included in the first place, Because it
kind of beggars belief that you would, because you just
create a and an inducement for them to leave teaching
and become relievers if you do so. Some real common

(40:14):
sense today from the government, and good riddance to lots
of red tape.

Speaker 3 (40:19):
And I can understand why we don't want ecees wasting
their time trying to prove that they found a certified
trying that they try to find a certified teacher if
there's no certified teacher to find. But is it less
beneficial to the kids to have a non certified teacher.
Don't we want a certified teacher.

Speaker 13 (40:34):
We do want certified teachers, but we do have a
teacher shortage as well. Neither of those changes will mean
less certified changer, less certified teachers. It doesn't affect that
we've got a limited number of certified teachers. And they'd
gravitated away from our employment into these third party relief
teacher agencies, which were then being charged back to us

(40:56):
at exorbitant rates. So today we'll turn the tide on
that and hopefully we'll actually see more certified textures and
ecees because no, I want to get a job.

Speaker 3 (41:08):
Yeah, Simon, Hey, thanks very much, really appreciate it. Simon
Lobber Early Childhood Council CEO hit that the ComCom have
been banging on for years about the grocery chains and
what have they done? Nothing? Either do something or shut up, Mike.
I feel like we're all feeling the same as you,
and I suspect this is the show us your money moment,
don't you think quarter past? All right, strap yourself and
get your credit card at the ready, Get set to

(41:29):
grab a case of one of the most ludicrously good
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(41:52):
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Do on is Zedil give them a call. Oh eight
hundred double six two double six two ever duplus Ellen
nineteen past five. Now this may shock a few. Apparently

(42:36):
the kiwi and the taka hair and the more are
not actually Kiwi birds. Hey are Australian birds. A team
of paleontologists have been excavating a fossil site in central
Otago since two thousand and one. Of this is their
latest discovery, and Canterbury Museum Sieni Curator of Natural History
Paul Schofield was involved in the excavation with us. Now, hey, Paul.

Speaker 4 (42:57):
Cada, how's it going good?

Speaker 3 (42:58):
Thank you? How long ago did these birds come to
New Zealand?

Speaker 4 (43:01):
Then, well, it differs for different species that we believe
them are in. The Kiwi probably got here about thirty
million years ago, but some of the others, like Targai,
were probably quite recent blow ins, maybe only two or
three million years ago. So, as you well know, there's
this east westerly drift from Australia and right across the

(43:26):
southern Ocean, and it appears that species have been arriving
in New Zealand ever since we drifted away from Gondwana land.
So the really surprising thing from our point of view
is the fact that many of the species that we
considered to be sort of traditional Kiwis aren't.

Speaker 3 (43:50):
Are you there, Paul? Have we lost you? Oh no,
we've got you. So your lines cutting in out a
little bit, Paul, Sorry, No, that's not your fault, don't
you worry about it. If these birds are actually originally
deporties from Australia, then should the car cup or actually
be our national bird.

Speaker 4 (44:08):
Well, it's got a lot of the same characteristics as
the kiwi. It's nocturnal and it's also flightless. And the
carcapo really is from both the DNA and the fossil record,
we know that it's been here for so so long. Yeah,
and it's really quite unique. But there's other really interesting

(44:28):
birds similarly. There's the little wrens, the riflemen, and the
bush and the bush wren and the rock crant and
that they are also long term New Zealand residents. They've
been here for sixty million years.

Speaker 3 (44:43):
Okay, Hey, what happened to the crocs that we used
to have?

Speaker 4 (44:47):
Yeah, yeah, So there's another really exciting thing. We had
two species of crocodile and we believe that they most
likely became extinct at the beginning of the ice Ages
about two million years ago to or three million years
so at Central Otago when at the time we were
digging twenty million years ago, it was really quite warm.
It was like North North and New South Wales or

(45:09):
southern Queensland. But as soon as the glaciations came along,
things really cooled down and it got to the point
where the crocodiles something couldn't survive.

Speaker 3 (45:20):
I see, Paul, thank you for running us. We'd appreciate it,
Doctor Paul Schofield, Senior Curator of Natural History at Canterbury Museum,
five twenty two.

Speaker 2 (45:27):
Digging deeper into the day's headlines, it's Heather Duper clan
drive with one New Zealand.

Speaker 1 (45:32):
Let's get connected and use dogs.

Speaker 3 (45:34):
That'd be it's coming up twenty five past five. Now
I am getting, by the way more and more suspicious
about the situation with the Ruapehu mills that have been closed.
You know the ones I'm talking about as two of them,
and they got shut down a few weeks ago because
the power prices, and initially they were shut down for
a couple of weeks, but then after that they were
kept shut and that may remain permanent with the loss
of two hundred and thirty jobs because power prices are mental. Apparently.

(45:58):
Now what you may not really because this actually hasn't
got that much publicity, is that there is a group
of five ministers, including Shane Jones and Sime and Brown,
who are right now working very hard to try to
find a way to save those mills and keep them open,
and they are apparently due to present a case to
the mill's owner on Friday for how they think they
can keep them open, and then the mill's owner will

(46:19):
make a decision after that. Now, why I'm suspicious, right,
What I am suspicious of is that it's going to
take quite a lot to keep these mills open. And
the reason I'm growing suspicious like that is because power prices,
I suspect are not the only problem here, if the
problem at all. Because have you seen the spot price
for energy in the last couple of days and what

(46:40):
it's doing. It's been trading at two to three cents
a Mega what hour for much of the last week. Now,
now let me just put this in perspective for you.
Two to three cents as opposed to last month more
than sixteen hundred dollars, right, so one six hundred dollars
per Mega what hour is now two to three cents

(47:00):
per Mega what hour? And now you cannot tell me
at two to three cents, which is basically zero, that
it's too expensive to be running a mill, right, because
that's basically free power like that, Go for your life, guys,
make as much pulp as you possibly can, because you're
not paying anything for your power right now. Plus what
makes me even more suspicious about this is that Mercury
called them out the other day and said, actually they

(47:23):
didn't have to pay the prices that they were paying
on the spot market because Mercury had offered them a
good fixed price deal and they didn't want it. Instead,
they stayed on the spot market and then complained about it.
So I'm just wondering if power prices really are the
big problem here, or if we've maybe got another little
Rio Tinto case in our hands here. Now if you
cast your mind back to Rio Tinto who owned Ty

(47:45):
smelted down in Southland. They always come cap in hand,
don't they when the aluminium price globally is not so
flash as I'm just wondering if these guys are coming
cap in hand looking for help because the pulp price
isn't so flash at the moment, which it isn't. The
guys aren't rookies, by the way, and they're owned by
a Malaysian family that's worth about one point four billion
New Zealand dollars. So I just hope they're not trying

(48:07):
it on for a sweet handout to increase profits. And
I just hope those five ministers know what's going on
here possibly ever do for see Ellen trigger warnings, Listen
trigger warnings on the TV shows and stuff have gone
a bit nuts, so you get a trigger warning for
literally everything like smoking a cigarette and the scene and
Matt Smith, who played you remember he played one of
the Prince Phillips and the crown. He says, it's going
too far. We're going to talk about that shortly. Also,

(48:30):
Luxon put this up on his Twitter account.

Speaker 1 (48:33):
Well cure everyone.

Speaker 15 (48:34):
I'm here in Medeka Square in Kuala Lumpa and it's
an iconic place where Malaysian independence was declared in nineteen
fifty seven and nearly seventy years on, Malaysia is still
growing and it's looking.

Speaker 16 (48:45):
To the future.

Speaker 3 (48:46):
And so then guess who pops up and congratulates him
Elon Musk. He says, I have to say I like
the new New Zealand Prime Minister good energy talks directly
to the public. This is the way, Hey Headline's next.

Speaker 2 (48:59):
The day's news bakers talked to Heather first. Heather duple
c Allen Drive with one New Zealand. Let's get connected
and news talk z B.

Speaker 3 (49:15):
Like the minister who might be able to do something
to help the grocery commissioner with the supermarkets. Andrew Bailey
is going to be with us after six o'clock. The
Huddle is standing by Heather. How much of the two
hundred and thirty thousand dollars that the young couple found
in the attic? Will the sparky get well? Darren, this
is a very good question we're gonna have. Will the

(49:37):
young couple even get to keep it as more? Is
actually much more pressing. We can talk to Huddle about
that very shortly. Right now, it's twenty four away from
six now. Matt Smith, you might know this guy's name.
He's the actor from the House of the Dragon. He's
played Prince Philip in one of the Crown seasons. He
reckons we're over using trigger warnings in films and TV
shows to the point where modern audiences have become completely
reliant on them, and he reckons warnings have left shows

(49:58):
dumbed down, and we telling people to be scared before
they've even watched something. Clinical psychologists Google Sutherlanders with us
on this a Google.

Speaker 17 (50:06):
Hey, how's it going?

Speaker 3 (50:07):
I'm very well, thank you. What do you reckon? Are
we overdoing it? Or are these things useful?

Speaker 17 (50:13):
Well, that the research so far suggests that they aren't
particularly useful at all. They that what they do do
is they increase people's anxiety in advance of something coming up,
and that people don't end up avoiding looking at or
watching the thing that you're supposed to be not looking

(50:33):
at or watching. So the research is saying that actually
they don't seem to be doing a particularly good job
of what we think that they should be doing.

Speaker 3 (50:42):
Is this part of the modern nonsense where we just
don't want to upset anyone? Or is there actually good
clinical grounding for putting something like this up there like it?
Are they basing it in some good intention?

Speaker 1 (50:53):
Yeah?

Speaker 17 (50:54):
Look, I think the intention is good. We know that
if you have suffered a serious tries, some sort of
abuse or attack or post traumatic stress or sort of
something like that, that and if you get reminded of
that again, it can re trigger off that whole disorder
or all those symptoms again, and so there's a good

(51:15):
intention behind not doing that. But I think what's happened
is that that that the idea about triggering that off
has slowly slipped and expanded to cover off a whole
lot of things, including now things that make us mildly
upset or irritated. And look, that might be good intentions
as well, if we did follow the warnings and avoid them,

(51:37):
or or they did help us to feel better, but
the research shows that that doesn't actually work anyway. So
it's got good intentions, but I'm not sure that it's
living up to its good intentions.

Speaker 3 (51:47):
Right, Hey, have you ever watched any films when all
TV shows with the stuff, you know, the trigger warnings?

Speaker 17 (51:54):
Have I watched them with a trigger?

Speaker 1 (51:55):
Wo?

Speaker 2 (51:55):
Yeah?

Speaker 3 (51:56):
Have you seen the trigger warnings?

Speaker 17 (51:57):
Yeah?

Speaker 5 (51:58):
Yeah, yeah, yeah yeah.

Speaker 17 (51:58):
I just generally disregard them. Actually, there's an interesting there's
an interesting effect that they find. It's called the Pandora
effect or the forbidden fruit effect that often when you
put a trigger warning on, people tend to watch it
even more because they go, all, there might be something
juicy in here, and we better watch it. So it
sometimes has the reverse effect that what you want it
to do.

Speaker 3 (52:17):
Interesting stuff, Google, Thanks for talking us through, appreciated man.
That's Google. Sutherland, clinical psychologist, it's coming up twenty one
away from six The Huddle.

Speaker 2 (52:26):
With New Zealand Southerbeast International Realty exceptional marketing for every property.

Speaker 3 (52:31):
On the Huddle with Me This evening got Jack Tame,
host of Saturday Mornings and Q and A and Mark
Sainsbury broadcast, Hello you.

Speaker 16 (52:36):
Too, Kilder.

Speaker 3 (52:38):
Problem with the trigger warnings, Jack, is that it tells
you what's going to happen in the movie, and then
it basically ruins the story.

Speaker 16 (52:45):
I just don't know what's wrong with the Like the
old rat or whatever. You just put that at the front,
say this is Raten or this is them or whatever,
and then you just move.

Speaker 2 (52:52):
On from there.

Speaker 16 (52:53):
I mean, I for one, have just never paid any
attention to the trigger warnings whatsoever. Fortunately I'm not someone
whobody has anything to be triggered. But you're quite right,
like it kind of gives you a bit of a
heads up. You know that there's going to be violence,
you know they're going to be sexual scenes, you know
they're going to be whatever else. And yeah, if the
research suggests that actually these are having the exact opposite

(53:13):
effect to what it was intended, I just don't understand
why we are continuing.

Speaker 3 (53:17):
With it grinds my gears, saying though sometimes when you
sit down to watch it and it will be really specific.
It'll be like, there is a scene in this TV
show where blah blah blah happens and you go, oh, no,
he's going to do that to her? Now, I know,
have you ever had that experience? It ruins the show.

Speaker 4 (53:32):
Look at a color. I totally agree.

Speaker 18 (53:33):
In fact, there's thing exactly the same thing that you're
talking about.

Speaker 1 (53:36):
Jack.

Speaker 18 (53:37):
What's wrong with the R eighteen or the You know,
there was a simple guide. You knew this one's got
a got a stuff, and that you don't be watching
it with your parents, you know.

Speaker 5 (53:47):
So it's just it's just.

Speaker 3 (53:50):
Jack and I are still at the stage where we're
worried about our children more.

Speaker 19 (53:55):
Well, that's that's.

Speaker 16 (53:55):
A good point though, like to think about kids, right,
Like so, say the stre services, it's probably a lot
easier for kids to access stuff that's a bit Nahlia
than we might have been able to access at four
thirty in the afternoon back in the day if a
parent isn't keeping an eye on them. But again, I
just I just don't know why we can't just have
like this is for mature audiences or something like that.
Instead of getting into specific you.

Speaker 3 (54:19):
Know, like on the sky you can put a kiddylock
on it so that the kids can't get into that stuff.

Speaker 4 (54:23):
Yeah.

Speaker 16 (54:23):
Yeah, but I like, what about the Netflix and the
tvn Z class. I mean, look, we're in our house.
We're about less regulation, not more heather, So you know
we're pretty relatective eye.

Speaker 3 (54:35):
Are you like a free for all modern parents situation?

Speaker 16 (54:38):
No? No, not. But come back to me and seven
or eight years when he's in his teens, and I
might feel a little less cocky about it all.

Speaker 3 (54:44):
I reckon. I reckon, when he's in his teens, you're
going to be full noise nazi parent you exact. Yeah,
I reckon you will be. I reckon, you're going to
be real tough on him.

Speaker 16 (54:52):
I'm pretty I'm already pretty strict. I'm a back basics
kind of guy.

Speaker 17 (54:56):
This is why I'm.

Speaker 3 (54:56):
Saying that because I've heard tell because my producer told
me that she overheard a Converse station one day and
she was like, Jack can be tough, And I was like, no,
we can't, but apparently you can.

Speaker 16 (55:05):
No. No, I'm super strict from way back I'm like
sending them to Borstalre. You know, this is what we're
going to you just you.

Speaker 18 (55:12):
Just wait, Jack, they've taken off the trigger warnings. Just
sitting down and watch a movie.

Speaker 16 (55:18):
And it's all of a sudden, it's all.

Speaker 3 (55:21):
How are you gonna explain yourself?

Speaker 4 (55:22):
Then?

Speaker 3 (55:23):
Hey, sin So do you reckon that the Commerce Commission?
Do you have confidence that they can actually solve the
supermarket problem?

Speaker 18 (55:29):
Well, look, I heard what you said before. I mean
how long have we waited? We know it's a problem.
I mean, we don't need to be told over and
over again it's a problem. Do something, you know, and
you look at this report. They've come back and said,
you know, competition is working. All those things that they
said was going to happen, but at the moment, I
mean it's the competition is marginal. You need to get

(55:50):
serious competition in there. And yeah, look they're going to
just get in there and do something. And especially when
you look at.

Speaker 16 (55:55):
Those profit margins compared to overseas.

Speaker 18 (55:58):
You know, we always oh, I mean look our business
and a lot of them, you know, like with some
food stuff, they're all individually owned, are entitled to make
a living.

Speaker 17 (56:07):
That's what they're there for.

Speaker 16 (56:08):
But you know, they've got us by the nuts.

Speaker 3 (56:12):
Jack, They really do, don't they.

Speaker 16 (56:14):
Yeah, there are a couple of little figures that really
stood out to me in that kind of excimmission report.
So the first was that at prices have increased at
greater the rate than the big supermarket companies have been
paying their supplies. So that's the first concerning thing. The
second was that they're sitting on a hundred significant properties

(56:34):
one hundred significant land banked property of properties around New
Zealand for future supermarket developments. I had no I knew
that they were sitting on some property. I had no
idea it was that significant. And you know, unless you
are able to seriously intervene, I just don't know how
We're not going to continue repeating ourselves. And I don't

(56:55):
think the threat of a ten million dollar fine is
going to be a major concern those companies for now.

Speaker 13 (57:01):
Now.

Speaker 3 (57:01):
The significance of those properties, Jack, obviously, is that stops
competitors from being able to get those properties therefore set
up a supermarket that would actually threaten right, Yeah.

Speaker 16 (57:09):
Yeah exactly, which is which I mean, which is to
my point, like, unless we're able to like I had
no idea that they had quite that many properties. And
unless we are able to break it up somehow, I'm
not suggesting.

Speaker 19 (57:19):
We can pulsorately acquire them or anything like that, but
you can you can see the depths to which they
have protected their You know that they appear to have
protected their industry and protected their patch, and certainly you
know it's going to take some unpicking to try and
to try and get those prices more competitive.

Speaker 3 (57:36):
Yeah, judging by the judging by the tone sayings of
the texts that I'm getting about the grocery commissioner, there's
a real vibe out there that he needs to do
something or bugger off a I feel like his reputations
on the line on this one.

Speaker 18 (57:47):
Well yeah, I mean it was a big call when
they brought them in many huge background. I mean, he's
no mug, but you know you bringing you bring in
these commissioners for a purpose.

Speaker 1 (57:56):
Yeah, So get busy.

Speaker 3 (57:59):
Yeah too, right, Okay, will take a break, come back
very shortly quarter.

Speaker 2 (58:01):
Two The Huddle with New Zealand Southeby's International Realty Unparalleled
reach and results.

Speaker 3 (58:08):
Back with the Huddle, Jack Tay and the Mark Sainsbury sayings, So,
do you think the young couple who found the two
hundred and thirty thousand dollars in their ceiling should be
able to keep it?

Speaker 17 (58:16):
Yes?

Speaker 18 (58:17):
Yes, why because it's Look, they're obty not drug dealers.
They brought this in because they had so much sort
of trouble trying to you know, mop up all these
sort of illicit gains. They bought the house in good faith,
they find the money in there, and no one can
actually track down who possibly.

Speaker 17 (58:35):
Left it there.

Speaker 19 (58:37):
I just liked that, you think, Yeah, I think good
on you.

Speaker 7 (58:39):
It's a bonus. Let them keep the money.

Speaker 3 (58:41):
Yeah, they're not the ones who did anything wrong.

Speaker 16 (58:43):
What do you reckon, Jack, I reckon they should be
allowed to keep some of it. Now stick with me
on this theory. I think we need to encourage people
to hand in big sums of money when it comes,
you know, when they're discovered by like this, because it's
actually in the interests of their safety. So, like, if
the police were to say, we're going to give this
couple some of that money, then if whoever left that

(59:06):
money there in the first place comes back looking for it,
and they came and confronted the couple, the couple can
quite reasonably say well, we didn't get to keep the money.
We just had to give it back to the police,
and let that's and let's you know that that would
be that. But if they if the police announced that
the couple are keeping all of the money, then I
think that puts them on. And if they say they're

(59:26):
giving them none of the money, then I think that
disincentivises them from handing it.

Speaker 3 (59:31):
Okay, but let's just say it's the monkeys, which is
the most likely even if it maybe it's the monkeys, okay,
who put the money there?

Speaker 1 (59:39):
So I reckon it could.

Speaker 16 (59:40):
Be worse than the monkeys, Like I reckon there are
But did.

Speaker 3 (59:43):
You read the story. The cops said that there was
a beneficiary of the trust who have connections to the
mungrel mobs. So that seems like that's the only connection. Okay,
So let's say it's the monkeys. But let's say it's
somebody and denied. Yeah, oh yeah, sorry, thank you for something,
thanks for covering use off a no, no, not not
no any more or anyway. So jack, let's say that
we get we say to the young couple, you can

(01:00:05):
keep fifty k for yourself, right. You don't think the
Moneys are going to go look for that fifty k No, no, no.

Speaker 16 (01:00:09):
Because police don't publicize it. So I think the police
say that, they say we will give we will give
them a reward to thank them for their honesty. And
then and then if the couple is confronted by the
Moneys in the future, they can say, oh, the police
gave us two grand, as opposed to saying oh, the
police gave us one hundred grand. I think by saying yes,
you get to keep all of the money, then that

(01:00:30):
puts them at risk. By saying no, you keep none
of the money, then that disincentivizes people in the future
from handing it in. By saying we'll give you some
of it and not announcing exactly how much they're going
to give them, that both makes them safer angers them
in the center.

Speaker 3 (01:00:44):
We see, okay, sayin so I reckon, I reckon, I
love where Jack's going the but here's one hundred percent wrong.
You give them anything, and you announce that anything is
given to them, the Muneies turn up. What do you
think you just got to take the money and run
to Australia.

Speaker 16 (01:00:55):
Well, they're going to turn up and want this drug money.

Speaker 18 (01:01:00):
It might be a little bit of respect matter that's
set there for so long.

Speaker 3 (01:01:05):
Yeah, could have just been an old lady saying so,
couldn't it? Who just got weird and put it up
in the ceiling?

Speaker 1 (01:01:11):
Yeah?

Speaker 18 (01:01:12):
And what and you forgot? I mean, I know you
and Barry like that bundles of cash around the house.

Speaker 3 (01:01:18):
You forget what you do where he puts all the
money in the ceiling all the time?

Speaker 18 (01:01:22):
Ordinary people like Jack and I we just never see
something like that.

Speaker 3 (01:01:26):
Can you forget it because you're old? It's because you're old? Now, Jack,
what do you make of aut launching a tate a paper?

Speaker 16 (01:01:35):
I'm into it, And here's the reason. Not because I
want to study, not because I want to study Taylor Swift,
but because this is a communications paper. And look, I'm
the first to bang on universities and say they're not
preparing a young people for the future properly with skills
that are actually getting the job. But if there is
one industry that is doing extremely well in our modern society,
it is communications. And who can deny that Taylor Swift

(01:01:56):
isn't a communications master. So you know what, if you
want to enter that industry. You want to get a
relatively good salary and years to come. Communications, if the
last decade or two is anything to go by, is
a great place to be.

Speaker 20 (01:02:06):
So why not.

Speaker 3 (01:02:07):
Yeah, I don't have a problem with it. What about
you say, Zoe?

Speaker 18 (01:02:09):
Yeah, no, Look I think I think it's great. I mean,
we've had courses on the Beatles. There was a course
someone did their doctorate on the Dunedin Sound. You know,
there's there's there's all sorts of legitimate reasons, but she's
an ablute phenomenon. And as Jack says, it's about the communications.
How does the most successful artist on the planet, you.

Speaker 4 (01:02:28):
Know, communicate?

Speaker 1 (01:02:29):
Yeah too, there's all sorts of lessons in there.

Speaker 4 (01:02:32):
Good on them.

Speaker 3 (01:02:32):
Yeah, Hey, guys, thank you, really appreciate it. Go and
enjoy the evening. That's Jack Tame, host of Saturday morn
who's a Q and a Mark Sainsbury broadcast. I'll tell
you what, if you are upset about a Tata paper,
you should see the money that we give as a
country to some of the people and the stupid stuff
that they study, and you'll go, oh, Aja, paper actually
sounds quite good in contrast to studying. I don't know

(01:02:55):
I can't even begin to tell you. But the one,
the one, the one of one of the examples was
employer provided houses. And whether that makes you like your
house more or less? I mean, come on light away
from six, on.

Speaker 2 (01:03:07):
Your smart speaker, on the iHeart app, and in your
car on.

Speaker 1 (01:03:10):
Your drive home.

Speaker 2 (01:03:11):
Heather Duplice allan drive with one New Zealand one giant
Leap for business news talk as zi Be.

Speaker 3 (01:03:19):
Hither the money was shrink wrapped enough said, I mean, yeah,
Leo's right, is probably more likely to be the mongrel
mob that well, even for the mungrel mob, that's quite
sophisticated shrink wrapping. To be honest, it's not an old lady,
is it. Hither how about a warning like this is
a woke movie attempt? Heather Studios use the trigger warnings
as a defense against spurious lawsuits from people claiming that
they were harmed by watching something. Strobe lighting warnings for

(01:03:40):
epilepsy or warranted the rest and nonsense. Hither, my major
trigger is Jacinda. I wish they would rate her on
one hundred. And I'll tell you what. There are a
few people saying that they need trigger warnings for j
Cinder and that's not you being mean. I understand that
as we've been through a difficult time and it is
a reminder of that time that we would like to forget.
So I understand that, and I hear what you're saying now,

(01:04:01):
very very interesting play from Meta. These are the guys
who own Facebook and Instagram today on how to get
kids off the social media apps, which has been a
point of discussion around the world in recent months. Right,
it's become very very heated about what we do about
the kids getting onto the social media apps and all
the bad stuff it causes, like eating disorders and anxiety
and all the kind of stuff. These guys Meta are

(01:04:23):
going to go to the Aussie government. They've got a
hearing in Canberra later on today if it hasn't already happened,
and Meta's VP and global head of Safety is going
to be appearing, and they're going to tell the Aussie
government how you get the kiddies off the social media apps,
and basically from it's not by stopping the kids from
being able to create a Facebook account or create an
Instagram account. It's actually done by stopping the kids from

(01:04:46):
downloading the app at all, like altogether. So what they're
going to say to Ozzie's is that the way to
do it is that when the parents get a teenager
under sixteen a phone and you know, log it in,
You've got to do that whole logging in process and
stuff like. Then when they verify the age, and they
verify the age as being what the real age is,
which is under sixteen, and what should then happen is

(01:05:06):
that the app store that the child then uses on
their phone to be able to download whatever apps they
want to be able to buy, whether it's The Herald
or Facebook or Instagram or whatever. The app store automatically
notifies the parents, Hey, Johnny wants to download an app.
The app is Facebook, and the parents have got to
say yes or no before that app is downloaded. And

(01:05:29):
in order for that to happen, Australia would have to
pass a law that would force the app stores to
do that. The app stores would be obviously Apple and
Google who run the app stores. Now I'm not entirely
sure if Apple and Google are going to be on
board with this, and they probably see this as meta
passing the buck rather than having to deal with the
problem themselves, passing it on to Apple and Google. But
it does seem to be a reasonably smart way of

(01:05:51):
doing it right so that the kids, i mean possibly
the little blighters would find their way around, you know,
dab dah dab da fat. But thetanon then and do
it like that and just be annoying little brats who knows,
who knows, But maybe that is the way to do it.
Is that it simply cannot even get that app on
their phone in the first place. Therefore you don't have
a problem. So anyway, we'll see how that goes with

(01:06:12):
the Aussies, because the Aussies are much more hard out
on this stuff than we are. A They're going hard
on this. We're going to talk to the minister in
charge of fixing the supermarkets next. Andrew Bailey News talksb
O News.

Speaker 1 (01:06:30):
What's what's down on them?

Speaker 2 (01:06:32):
What were the major calls and how will it affect
the economy? The Big business questions on the Business Hour
with the Duplicylen and my hr on News Talks mb.

Speaker 3 (01:06:44):
People in coming up in the next hour asb on
why Herewies aren't expecting an upticking house prices anytime soon
despite the OCR coming down. Milfit Asset Management on why Nike,
Lululemon and Starbucks are having a tough time on the markets,
and genative training on why our banks are now holding
a reck amount of money in term deposits. It's seven
pass six now. The Commerce Commission has reported that we

(01:07:05):
are still getting ripped off at the supermarket Grocery Commission
of piavanhad And told us earlier that the ComCom is
trying to tighten up the rules to stop the duopoly
from ruling us.

Speaker 14 (01:07:14):
There's no one silver bullet, so we've got to use
all of these different tools to their maximum effect to
try and get change.

Speaker 7 (01:07:22):
Within the end, you.

Speaker 3 (01:07:24):
Might need the help of the Commerce and Consumer Affairs
Minister Andrew Bailey Andrew Hallow.

Speaker 21 (01:07:29):
Good afternoon.

Speaker 3 (01:07:30):
What are you going to do about it?

Speaker 21 (01:07:31):
Well, obviously there are a number of recommendations that the
Commissioner can do on his own, and he should be
doing that, and I'll be urging him to do it
as quickly as possible. From a government perspective, there's two
sort of key areas. One is about allowing overseas investment
to happen more easily in New Zealand's one of the
most restricted places in the world. But Secondly, how we

(01:07:52):
can deal with some of the planning rules. So those
two pieces of the work are already underway at a
government level, but really most of this sits with a commissioner,
and I'll be urging him and the commission to get
on with it and make it happen.

Speaker 3 (01:08:04):
Are do we have overseas like possible competitors from overseas
who are saying the overseas investment rules are keeping them out.

Speaker 21 (01:08:12):
Not specifically on supermarkets, because we simply don't have.

Speaker 3 (01:08:15):
People like what are the guys like Oldie saying to
you about why they're not coming here?

Speaker 21 (01:08:19):
I did speak to Oldie, but they just don't see
it as a market they wanted to go into. They'd
rather pursue, for instance, Australia grow their market share there.

Speaker 3 (01:08:27):
Why not? Why are they interested in us?

Speaker 21 (01:08:28):
Oh it's a small, diversified you know, very difficult to
enter small market basically, And obviously people are talking about
other players. I've been talking to one or two other
players that possibly could come into New Zealand. But right
now I couldn't put my hand on my heart and
say there are lots of people lining up.

Speaker 3 (01:08:45):
So the solution is really already in country it's a
warehouse or something like that.

Speaker 21 (01:08:49):
Yeah, I think, And that's a really important point hither,
because all strategies and business start with look after your
customer first, and our current customers are people like the
warehouse Costco night and day. We need to make sure
that they can compete as robustly as possible, and right
now they can't. They've got they can't get access the

(01:09:09):
wholesale supplier of produce, which they should be able to
at the same price that the supermarkets currently enjoy. So
that part of the report from the Commissioner I certainly
endorsed and support.

Speaker 3 (01:09:20):
Okay, So he says this is pir van head and
he says he wants to do a section fifty six
inquiry and he wants you to give him permission to
force the whole the supermarkets to wholesale to their competitors
at the same level the wholesale to each other to themselves.
Would you allow that.

Speaker 21 (01:09:34):
Well, he's got to do Section fifty six and that
unlocks those backstop powers, so that's easy. He's identified a
couple of the specific issues. One is the opt out provisions.
So a number of multinationals, by way of example, have
opted out of supplier agreements with the supermarkets, which means
that a new competitive I'll give you example five Foo

(01:09:56):
and Hamilton new operator there is having trouble get access
to toilet paper, which is a key requirement for a supermarket.
So allowing those people to have access the products is
really really important.

Speaker 3 (01:10:08):
Well, why are they unable to get access to the
toilet paper? Explain how that works.

Speaker 21 (01:10:11):
The supplier simply said, I don't want to supply to.

Speaker 3 (01:10:13):
You because what they're looking after their mates at food
stuffs and woollies.

Speaker 21 (01:10:17):
Well, I can't a pine on that, but what the
commissioner wants to make sure is that people can't unnecessarily
opt out. That's one side of the coin, but also
there's things like supermarkets enjoy a price competitive advantage by
having their own branded product, and the supermarket often they
buy that at a cheaper rate than what a supplier

(01:10:39):
will supply their own branded product, and so having a
like forul like basis. So if viewer night and Day,
you should be able to get the same price for
the home brand price that the supermarket gets rather than
the higher price that they might have to do.

Speaker 3 (01:10:52):
How long is this going to take to do a
Section fifty six inquiry and unlock that backstop.

Speaker 21 (01:10:57):
Oh, I think that the Commissioner will do that. He
said he's going to start that process very soon. I
think it's a matter of months.

Speaker 3 (01:11:02):
Is it really so? What in a matter of months
we could see all of a sudden the wholesale situation.

Speaker 21 (01:11:07):
No, it's more to be done around that. Certainly unlock
some of the powers, and then it's up to him
how he implements that. He's also looking at beefing up
and putting in place a wholesale code. We don't have
one at the moment. So that's the second part of it.
And then the third part is actually enforcing making sure
that people who are supplying supermarkets have treat it fairly

(01:11:30):
inequitably and still having anecdotal examples where people have not
been fairly treat it. And I've said to the Commis commission,
I want you to be a courageous litigative if that's
the case, if they have to take stronger actions, get
on and make it happen.

Speaker 3 (01:11:45):
Is the solution to all of this not simply to
break these things up, right, So you break up the
wholesale and retail arms and create some real competition.

Speaker 21 (01:11:52):
There, Well, you could jump to that. I think the
first thing will these reforms? Could these reforms lead to
better outcomes? I think the possibility is very strongly they should,
but they need to be done quickly. They're quite comprehensive
what the Commissioner's proposed, but jumping to a breakup, which
a lot of participants have said that it does raise

(01:12:14):
some significant issues around you know, you're forcing the Australian
entity to be broken up here in New Zealand. It
sets a president. So to go down that route you
really need to act carefully. For instance, one area that
we will be looking for and I'm looking forward to
the report from the Commissioners on the one hundred plus
pieces of land that the supermarkets currently own, whether in

(01:12:36):
fact they are appropriate that they own them, if they're
held for an anti competitive process. I'll be waiting for
advice on the Communic Commission to say are they contrary
to the comments act? If they were and are, then
we might look at how we deal with that. We
may require devestment. But I don't want to jump ahead
to that. I want to see what the advice is

(01:12:56):
and obviously have to work it through with my Cabinet colleagues.

Speaker 3 (01:12:59):
Andrew, thank you very much for talking us through that.
I really appreciate it. That's Andrew Bailey, the Commus and
Consumer Affairs Minister. It's on an unrelated matter. Just had
a decision on the duval case. I'll run you through
that shortly, thirteen past six.

Speaker 1 (01:13:12):
Crunching the numbers and getting the results.

Speaker 2 (01:13:15):
It's headed duplicy Ellen with the business hours thanks to
my HR, the HR platform for SME on US talksb.

Speaker 3 (01:13:23):
Milfon acids management is going to be a fascinating fascinating
what's going on with those big brand Starbucks, Nike, lu Lemma.
We'll talk through it shortly. The judge has just ruled
that the Duvile report will be made public. This is
the receiver's first report. This is justice. Campbell excepted that
there was a considerable public interest, but said the proceeding
was at an early stage and therefore he will only

(01:13:43):
release the report and the formal court record, but not
the wider documents. And part of the reason for that
is because there is a possibility of criminal charges arising
from the matters that are addressed in the file, and
he says access to these documents while the allegations are
unanswered and until tested, may prejudice the respondent's fair trial rights.

(01:14:04):
It's quite interesting, so that may come out most likely Friday,
but maybe tomorrow afternoon at the earliest. Seventeen past sixgather
D House Save has put an extra two point one
billion dollars in term deposits in July, locking in higher
interest rates before the Reserve Bank drop the official cash
RAC banks now hold a record one hundred and thirty

(01:14:24):
six billion dollars in term deposits. And Genative Chiriney is
The Herald's Wellington Business editor. Hey you name Hey he
So do you think that record number is as a
result of people getting in there and trying to lock
in those higher deposit rates.

Speaker 22 (01:14:37):
I think it is that term deposit number has been
tracking up. But I did notice that in July the
jump in term deposits was quite big. So two point
one billion dollars that's quite a bit of money, one
point six percent more than the previous month. And you know,
I note that in July that's when the Reserve Bank

(01:14:58):
released that statement where it's gested it might start cutting
interest rates sooner than August next year, which you know
back in May was when it said it would likely
cut interest rates. So I mean I was one of
these people. I thought on July tenth, I better look
at how my money's going and maybe lock in some
high interest rates now. The thing though, that was quite

(01:15:20):
surprising looking at the July figures was that the amount
of money that people put in their transaction accounts, you know,
just their call accounts, that also went up, and that
went up by the most that it's gone up in
about two and a half years. So not only did
people put more money in term deposits, but they actually
put more money into the bank generally.

Speaker 3 (01:15:42):
Interesting. Yes, So if it's not coming from the transaction
and the savings account balances, right, if they're not taking
it out of there that here's my easy money account,
where are they getting this money from?

Speaker 4 (01:15:51):
Yeah?

Speaker 22 (01:15:52):
Well, look that is my big question, and I've been
doing a big ring around today to ask various people.
It probably isn't higher welfare or been payments because those
changes are made in April. It probably isn't tax changes
either because those income tax cuts that were getting they
only kicking in August. But what it could be, and

(01:16:13):
this is what Westpac's former Treasurer Jim Reardon said was
that back in July, term deposit rates were much more
attractive than bond yields. So he thought that if people
there were a bunch of bond maturities at that time,
so if you received money because you're the bonds you
invested in matured, you would have been much better off

(01:16:33):
putting your money in a term deposit than reinvesting it
in bonds. So he thought that the fact that the
bond yields was so much lower than the term deposit
rates at that point might have pushed more people into,
you know, not invest in bonds and put the money
in the bank. But so I think that's, you know,
quite a plausible thing. I also took to Sharon Zooner,
the chief economist at A and Z, and she thought,

(01:16:56):
you know, things were pretty tough back in July, so
people were possibly being cause you know, worried they might
lose their jobs, not spending too much, just popping their
money in the bank. Saving. My big question, and so
this is also Sharon's Olensborg question, is you know, there's
quite a bit of money that's sitting in the bank there.
Those those balances have been rising in the high interest

(01:17:17):
rate environment. You know, how will people deploy that money?
Is interest rates full and you know, as it becomes
less appealing to keep your money in the bank interesting stuff,
Well they will they put it in the property market.
That's my question.

Speaker 3 (01:17:31):
What do you think I'd say, no, what do you reckon?

Speaker 14 (01:17:34):
Yeah?

Speaker 22 (01:17:35):
I think they will, but there's quite a lot probably
holding back. I don't think the pickup will be I think.

Speaker 3 (01:17:41):
We know that. Yeah, I think we know it. Hey,
thank you. Jane has always really appreciated, you know, to
training the Heralds are Wellington Business editor Heither. Here's something
to think about. What international supermarket will want to come
to New Zealand when over the last couple of years
the government's plural have been threatening to force changes very
good points six twenty.

Speaker 2 (01:17:58):
One, everything from SMEs to the big corporates. The Business
Hour with Heather duple Cles and my HR the HR
solution for busy SMEs on News Talk ZB.

Speaker 3 (01:18:11):
Twenty three past six. Now, the US market may be
up almost sixteen percent on the year, but get a
load of this. Well known household names like Nike and Lulu,
Lemon and Starbucks had a much tougher time The entire
consumer discretionary sector is up only four percent, with a
growing number of so called fallen angels. Stephanie Bachelor is
from Milford Asset Management. Hey, Stephanie, Hi, Heather. What exactly

(01:18:31):
is a fallen angel?

Speaker 20 (01:18:33):
So, the term fallen angel was traditionally used to describe
a bond that used to be investment grade but has
since been reduced to essentially junk bond status, but you
can also apply it to stocks. A company that has
historically been seen as really high quality, usually with a
share price, that continues to reach all time highs, but
has since fallen significantly and is now out of favor

(01:18:55):
was investors?

Speaker 3 (01:18:56):
Okay, So I've listed a number there that that are
obviously examples why they performed so poorly.

Speaker 20 (01:19:02):
Yeah, So there are lots of examples. A couple that
you mentioned the ath leisure companies like Nike in Lululemon,
they've fallen significantly on concerns that they aren't innovating enough
and they're losing market shared to newer competitors. So from
peak to trough, Nike's share price has fallen about sixty
percent and Lululemon's about fifty percent. Then in the beauty space.

(01:19:23):
Este Lord is down about seventy five percent, primarily due
to very weak sales in China, and Starbucks is another
brand struggling in China and its share price had fallen
about forty percent.

Speaker 3 (01:19:32):
I mean, it's quite astounding how big those fools are
given that they are household brands. What's next for these companies?

Speaker 4 (01:19:38):
Now?

Speaker 3 (01:19:38):
How do they get the investors to love them again?

Speaker 20 (01:19:42):
Yeah, So usually we see one of two things. Either
an activists shareholder gets involved. These are investors that buy
a sizeable stake in the company and then put pressure
on management to make changes. So a recent example of
this is Bill Ackman taking a stake in Nike, or
CEOs leave or get a placed, and we saw a
remarkable share price reaction to one of these situations. Recently,

(01:20:04):
it was announced that the CEO of Starbucks would be
leaving and would be replaced by the CEO of Chipotle.
This's a Mexican food chain that's done extremely well, and
so on the day that this was announced, Starbucks shares
went up twenty five percent and Chipotla shares went down
eight percent, So that market move was effectively a twenty
seven billion dollar slap in the face for the Starbucks

(01:20:24):
CEO and a twenty seven billion dollar pad on the
back of the Chipotlo ceo.

Speaker 3 (01:20:28):
Interesting. Okay, so in Vidio, right, this is something we've
been talking about just in the last few days. What's
going on here? And also is this an example potentially
of something that's becoming a fallen angel.

Speaker 20 (01:20:40):
Yes, it's been a rocky few days for in Video.
Over four days of trading, shares are down about fifteen
percent and that's wiped out about five hundred billion dollars
of value. That's almost the entire value of McDonald's, Disney,
and Uber combined.

Speaker 7 (01:20:54):
So it's a huge move.

Speaker 20 (01:20:56):
But shares are still up about one hundred and twenty
percent over the last year, so certainly not a fallen angel.
And there are a few things behind this move. So
it started at the end of last week when in
Vidio reported quarterly results. It was a strong result, but
shares actually fell six percent, and that just shows how
stretched investor expectations had become. Apparently there were even bars

(01:21:17):
in New York live streaming the result, so that's almost
the definition of a viral stock. And then overnight in
Video was down another ten percent as part of a
broader stock market sell off, which had a number of
factors at play, one of which was some weaker manufacturing
data that tapped into investor fears around a growth slowdown
in the US, and in Video actually fell a little

(01:21:37):
bit more after hours on some news that the DOJ
has issued a subpoena to in Video relating to an
anti trust investigation. So lot's going on. But the last
thing I'd call out is while the two percent moved
down in the S and P five hundred overnight is significant,
you have to put it into the context of the
increased market volatility that we saw in August, with big

(01:21:57):
swings both down and up. So last night move is
really just a continuation of that volatility.

Speaker 3 (01:22:03):
Stephanie, thank you. I really appreciate your time. That Stephanie Bachelor,
Milford Asset Management. Fascinating stuff. By the way, someone's text
through saying my mum used to make a fallen agel.
It's made from Advocate Advocate. That feels like one of
those olden days drinks from the nineteenth century nobody has
in their houses anymore. But anyway, Advocate cherry brandy and
lemonade sounds delicious. I'm not gonna lie now. Megan Mirkale

(01:22:27):
had a bit of a bummer. She has been given
a big fat no to her application to trademark the
name of her jams and her pastries and her napkins
and all the stuff she was going to do. She
wants to trademark American Riviera orchard applied to the US
Patent and Trademark Office. They said, now because businesses can't
trademark geographical locations. American Riviera is a common nickname for

(01:22:49):
Santa Barbara, California, so you can't be making it your own, actually,
and then putting the word orchard at the end of
it doesn't actually help. So it's not going well for
hers headline's.

Speaker 1 (01:22:59):
Neck lad or hanging up the past.

Speaker 2 (01:23:09):
If it's to do with money, it matters to you.
The Business Hour with hither duper clan and my HR
the HR solution for busy s Emmys on news talks,
it'd be.

Speaker 11 (01:23:25):
Not that.

Speaker 1 (01:23:34):
Okay.

Speaker 3 (01:23:35):
Do you know what it is? What like seven years
since green felt the Tower? Do you remember when I
went up and flames? Seven years ago? The final report
is going to be published this morning, like as in
this morning UK time, overnight our time, Kevin Grave will
talk us through it in ten minutes time. Now, I
don't want you to always feel miserable about New Zealand,

(01:23:55):
like we're the only people who can be idiots or not.
This all make you feel better about us. I'll tell
you something for nothing. Can you remember that bike crack
that Toys Mates bought in Wellington that costs about eighty
four thousand dollars on Oriental Parade and it was like
state of the art, gold plated, highly mechanic robot bike rack.
It was like, Wow, what an amazing bike rack. Eighty

(01:24:18):
four k Irish have done one better. These guys have
built a small bike shelter next to the Parliamentary buildings
for six hundred thousand New Zealand dollars. It doesn't even
do what Tory's bike rack does. Doesn't even have like
a little like lifting thing that will sort of hydraulically
lift your bikes up and stack them on level two
of the bike rack. Nothing flash like that. It's literally

(01:24:41):
a canopy. It is a back wall of sort of
like corr. It looks like it's just stupid corrugated plastic.
It's probably a bit flashed than that, but it's basically
what it looks like. Corrugated plastic backwall, corrugated plastic roof.
That's going to get moldy in Ireland, isn't it? And
then that's it. And then they've got little eighteen little
bike racks and you can put your bike racks in
there and think about it. If the rain comes even

(01:25:02):
slightly sideways, six hundred thousand is going to be no
good for anything. Those bikes are still going to get wet.
So we are not the only ones with the monopoly
on stupid ideas. How good twenty two away from seven
Keller duper Ce Allen now kiwis are weirdly not expecting
at uptick and house prices anytime soon. And that's even
though the interest rates are coming down. So ASB has
done its latest housing confidence survey found a net thirteen

(01:25:26):
percent of respondents reckon house prices will increase. That is
down from down by more than thirty percent compared with
the last quarter. Chief economists at ASB Bank Nick Toughley's
with us, Now, Hey, Nicky, why are they so gloomy?

Speaker 5 (01:25:40):
I think when we're looking at this period over May
June July, there was a noticeable pullback and optimism, shall
we say, over May, and that does coincide with when
the Reserve Bank came out with that sort of very
stern sermon that interest rates are not going to be
coming down anytime soon. So we certainly saw a bit
of deflation and that sort of optimism for house prices

(01:26:01):
coming through, at least in the first couple of months.

Speaker 3 (01:26:03):
Seems to have landed slightly differently compared you know, depending
on where you are in the country. Why has it
being felt so pessimistically in Auckland.

Speaker 5 (01:26:13):
I think in Auckland people is a living and dying
by that mortgage rates, given the size of mortgages. So
we did see from the previous quarter where Auckland was
relatively optimistic, finished the quarter quite optimistic, and it saw
its expectations around house prices fall back quite a lot.
You could also see in the interest rate expectations that

(01:26:33):
there was quite a lot of oscillating around. People certainly
got a bit darker in the mood over the prospects
of interest rate decreases over June or there's signs of
that started to change a lot right across the board
in the country. When we started to roll into July
and started speculating about the interest rate declines that we
started to see.

Speaker 3 (01:26:51):
Is it possible that people have started to realize that
house prices will probably never go up at the rate
that they did during COVID? Are people starting to get
realistic about what comes next?

Speaker 5 (01:27:01):
Who's had a degree of that. We did see quite
a lot of euphoria late last year when the housing
market did start to pick up about the extent to
which house prices would go up, so very very strong
results historically coming through at that point, I think people
just need to bear in minds. Yes, interest rates are
going down, we're not going back to a two percent

(01:27:22):
mortgage of any time soon, and the economy is in
a slower state. Unemployment is more challenging than what it
was a few years ago as well.

Speaker 3 (01:27:33):
I found it fascinating that only a net eight percent
think now is a good time to buy.

Speaker 4 (01:27:38):
Now.

Speaker 3 (01:27:38):
What's going on here?

Speaker 1 (01:27:39):
Nick?

Speaker 3 (01:27:39):
Because now is the perfect time to buy, isn't it.

Speaker 4 (01:27:42):
Yes?

Speaker 5 (01:27:43):
I think we'll see this the ambivalence change a little bit,
and it's quite a funny one. We tend to find
that people think it's a terrible time to buy in
the midst of a housing boom. When everybody is nonetheless
noneth less buying as the peculiar behavior that we see there.
So look, you are right when you look at affordable
interest rates, falling house prices have they're not exactly going

(01:28:05):
up at the moment. It is certainly a buyer's market
out there, and particularly when you look at how much
stock there is on the market. So affordability is good.
It is going to get better. But the problem is
is that we'll see that come up a bit more
competition as well as we head over twenty twenty five.

Speaker 3 (01:28:19):
Good stuff like it's good to talk to you, mate,
look after yourself. That's Nick Toughly, chief economist at ASB Bank, fascinating. Gay,
now's the time to buy if you want to buy.
Did you get this house prices we're still going backwards
the other day, so you're still getting yourself a bit huggin.
And then if you just go on the floashing rate
for now, then Nick minute be locking in something good
and away you go. I say this as somebody who's

(01:28:42):
just casually observing because I don't have anything to buy
or anything any money to buy.

Speaker 1 (01:28:45):
It with now.

Speaker 3 (01:28:46):
I did not realize this, but Lara Trump, Eric Trump's
wife is a singer. This is her latest single, Hero.

Speaker 1 (01:28:57):
And the Sagain.

Speaker 3 (01:29:06):
I mean if it was on the radio and you
were sort of three hours into a drive and started
starting to go into something like a fugue state, you
wouldn't turn it off, would you, Because it'd just be
wallpaper music, wouldn't it. You'd just be like, there's some
noise going on. They wouldn't be like super offensive. But
let me read you some of the lyrics. Oh that's her,

(01:29:26):
isn't it? That's her? Oh that's auto tuned to Hall,
amn't it. They've been like, yeah, auto tune that, Yeah,
gone with bad House anyway. Song about firefighters and how
much she respects them, and people hate it. The sentiment
is like cool from you wanting to yeah the firefighters,
But the lyrics suck. Here they are You're going through

(01:29:49):
the fire and the flames getting higher. You're my hero,
You're my hero. By the way, she's co written it
with another woman. And then the video they're singing that
part while they're standing on a fire escape, which is
very location appropriate. You're climbing up the ladder and the
screams are getting louder. You're my hero. You're my hero.

(01:30:10):
Without your bravery, we're out of luck. No, this can't
be denied. You've got to be special. It takes a
lot to put you last and everybody first. Know this
can't be for likes. With your heart, they can make gold.

Speaker 20 (01:30:25):
Wow.

Speaker 3 (01:30:27):
I mean obviously people are screaming because they're dying, right
and you're singing about that, aren't you anyway?

Speaker 23 (01:30:31):
And yeah, I was going to say, I just want
to know who signed off on the line. This can't
be for likes. I just want to tear apart all
the things I don't like about that line of lyrics.

Speaker 3 (01:30:41):
You decide how much more you're going to play, because
every second from here on and there's on you and
it ends. Gavin Gray next.

Speaker 1 (01:30:51):
Crunching the lovers and getting the results.

Speaker 2 (01:30:54):
It's Heather Duplicy Ellen with the Business Hour thanks to
my HR the HR solution of Busy Simmy's on news
Talk Zippy.

Speaker 3 (01:31:02):
Hither those are probably AI generated lyrics. You nevern know
them and they' bad enough they possibly could be. Gevin
Great by the way, it's fourteen away from Siven and
Devin Gray are UK correspondence with us Hykevin Hi there
he Geven seven years on from the tragedy is quite
a long time to wait for the final report, isn't it.

Speaker 1 (01:31:19):
Yeah, it has.

Speaker 24 (01:31:19):
It's been a long long haul for the victims' families.
This of course, of the Grenfell fire tower disaster back
in twenty seventeen, in which seventy two people died. It's
still a scar on the landscape of the West London
scene and a monument has been covered in cladding now
for a few years. It was just a blackened mess

(01:31:40):
and it's been just horrific for everyone living nearby, horrific
for those involved, horrific for those who tried to rescue
people who came out of the tower. And now after
a six year inquiry that began hearing about evidence about
what led to these deaths, this report will be published
at eleven o'clock local time, that is just over three
hours time from now. It's going to look at how

(01:32:04):
the tower block came into a condition that allowed the
fire to spread. So the claud in that was used
to keep it warmer and to effectively insulate it but
actually became a sort of fire chapel or caused a
system which it's thought ultimately led to it burning burning,
more quickly. Successive governments are likely to be criticized. How

(01:32:26):
that the building industry is going to come under fire
manufacturers and not least the London Fire Brigade, who already
have admitted that their instruction to stay put to the
residence was a mistake and was repealed far too late. So,
as I mentioned, this report going to be published now
three hours time, and it won't make great reading.

Speaker 3 (01:32:45):
No, probably not. Hey tell me about the Queen of trash.

Speaker 24 (01:32:49):
Ah, Well, this is a business woman in Scandinavia who
has made a bit of a sort of self styled
thing about being called a Queen of trash Sweden because
she stands accused of illegally dumping mountains of waste. It's
the country's biggest ever environmental case. Bella Nielsen is one
of eleven people charged with what's called aggravated environmental crime.

(01:33:14):
She's chief executive a waste management company and they are
accused of dumping or burying two hundred thousand tons of
waste in twenty one locations over a five year period. Now,
lawyers for her and the chief executor the company say
that they deny any wrongdoing, and indeed, earlier they had

(01:33:35):
refused to answers reporters questions, but prosecutors say the way
the company mismanaged the waste led to harmful levels of
carcinogenic chemicals being released into the air, soil, and water.
So we're talking lead, we're talking arsenic and mercury. In
one incident, the company waste pile was so close to
a nature reserve that it burned for two months after

(01:33:56):
spontaneously combusting. Yeah, I mean it's pretty gruesome. Stuf As
I said, they deny the charges and the case now begins.

Speaker 3 (01:34:04):
And so what is the punishment that they face.

Speaker 24 (01:34:09):
Well, basically, lots of the municipalities in which the waste
was done while seeking financial damages and I'm afraid I'm
the sort of environmental law it tends to be much
less punitive than if it were criminal law. And so
one of the particular councils assaught about one hundred and

(01:34:30):
twenty five million krona that's roughly forty million New Zealand dollars.
And they're saying, you know, this was the cost of
cleaning up the waste. But plenty of people are saying, look,
you know, we had to keep our children indoors for
miles around because of toxic smoke fumes and we should
therefore get compensation too.

Speaker 3 (01:34:48):
Yeah, I can see the argument. Okay, now I saw
this in the papers that I didn't know if it
was real, but genuinely people genuinely turning the pineapple upside
down in the shopping trolley in order to find a lover.

Speaker 24 (01:35:00):
Yes, believe it or not, So Heather, let me book
your space. No, I know you don't need apartment now.
But Mrcadona is the name of the supermarkets, and it's
a supermarket chain in Spain that's widespread, and between seven
and eight pm of a particular evening, single shoppers were told, now,
if you're good, if you want, if you want to partner,

(01:35:22):
go and have a look at everybody in there, because
between seven and eight pm, anybody that's looking for a
partner or a date should buy a pineapple, but turn
it upside down in your basket or in your trolley.
And yes, believe it or not, they reckon. Dozens of
people did just that. There are reports of groups of
teenagers pushing trolleys around in stores in the evening with

(01:35:44):
a pineapple turned upside down, but without actually buying any products.
One man dressed as a giant pineapple turned up inside
his friends as part of a bachelor party celebrations. The
police were called to one branch because of rowdy scenes inside,
although it was thought they didn't actually any require any intervention.
And basically this has all gone on social media. Of

(01:36:07):
course you knew that, you guessed it, but yeah, it's
all started with social media. It's become incredibly popular and yes,
the humble Pineapple now become the center of pineapple gate.

Speaker 3 (01:36:18):
Hilarious, Gavin, thank you very much. I really appreciate it.
Gavin Gray, are UK correspondent. Honestly, the thing. Imagine being
the person though, like, imagine if it was real. I
don't know, it seems like it was a pistake, but
I menagine if it was real and you're going around
with your pineapple upside down and everybody else finds a lover,
and then you're the last person that would suck. That
would be enough to keep me out of that, I reckon. Hither,

(01:36:39):
the Irish did build a tunnel and an underpass for
trucks that were too low for loaded trucks. So I've
got a correspondent from Ireland, actually Tom, who's been emailing.
Tom has been sending me examples of all the stupid
stuff that they do in Ireland that we do as well,
so there is a correlation. I think we found our
spirit animals over on the other side of the world.
Same same made away from seven.

Speaker 2 (01:37:01):
Whether it's macro MicroB or just plain economics. It's all
on the Business Hour with Heather Duplicy, Allen and my HR,
the HR platform for SME used top um.

Speaker 3 (01:37:13):
Okay, listen to this six away from seven. Fascinating revelation
from Al Macpherson. She's just written a book, her memoirs.
I think it might have been like pre release to
people who are reading and writing about it and stuff.
And she's revealed that she was diagnosed with breast cancer
and she had she had a bit of it removed
and then thirty two doctors, thirty two like normally normal
people like me and you, we just go maybe one doctor,

(01:37:35):
maybe like a second opinion if we can afford it.
Thirty two doctors told her that she needed chemotherapy, so
she then didn't do it. So this is how the
story goes, right, She had a lumpic to me to
remove cancerous tissues seven years ago hang on a tech,
I'm going to stop this printer to hang on, Lord,
what is it doing. It's like printing a tree.

Speaker 23 (01:37:54):
Pull the paper tray out and it'll stop by you
do we go?

Speaker 3 (01:37:57):
Thank you ants. You're like the it people her go
turn it off, tended on and generally it's true. But
actually this time I did pull the paper tray out first.
But thank you ads, but I did it.

Speaker 23 (01:38:05):
I always want me hear the sorry about that.

Speaker 3 (01:38:07):
Proud of myself right now. Feeling quite toughed anyway. So
seven years ago she had a lumpectomy to remove cancerous
tissue and then after her diagnosis, the doctors, thirty two
of them, told her she needed a mistectomy with radiation, chemotherapy,
hormone therapy, and a breast reconstruction, but she decided to
go all hippy dippy instead, and so she went for
a heart led holistic approach. She spent eight months under
holistic treatment in Phoenix, Arizona, where she was supported by

(01:38:29):
her personal doctor, her holistic dentist, her osteopath, her chiropractice,
her natural path and two therapists, and they focused on
addressing emotional as well as physical factors associated with breast cancer.
She spent her days focusing and devoting every single minute
to healing herself. Not everyone in the family was stoked
about it. One son was like, Yep, you should do this.

(01:38:50):
The other son was like, no, this is a really
bad idea. She is now in clinical remission. It actually
worked and she now adheres to an elaborate wellness Reich
routine including meditation, acupuncture, cold plunging, sound healing, a plant
based diet, tea ceremonies, sessions in an infrared sauna, and
taking a range of supplements and elyixes from your own
wellness brand. There you go, ants, there you go.

Speaker 23 (01:39:12):
I mean, maybe the holistic dentist charges a bit less
than a regular dentist.

Speaker 3 (01:39:15):
I'll be willing to take such a website as.

Speaker 23 (01:39:19):
Electric Avenue. The lineup is out for this festival that
runs in christ Chtcha Hagley Park over two days for
the first time actually next year twenty first and the
twenty second of February. A headliner for the Friday is
going to be Chasing's status headliner on the Saturday. I
think this is their first return to New Zealand since
twenty nineteen. The Prodigy so we're going to We'll be
going out with Breathe by the Prodigy. Other stuff on
the line up, Empire of the Sun, Tashahana, Lab Wilkinson,

(01:39:42):
Krung beIN, the Cooks, Rudimental and the Dudes are going
to do set as well.

Speaker 3 (01:39:46):
I like the Cookes and I like Empire of the
Sun and actually went to see the Dudes the other day. Hey,
you were going to tell me about pineapples.

Speaker 23 (01:39:52):
Oh look, yeah, the upside down pineapple whither. I have
heard that that's traditionally a symbol of swingers. So possibly
that's wh why all the people in the supermarket were
so keen to dress up and get into it. And
that story Gavin was telling us about too right.

Speaker 3 (01:40:05):
Interesting, there you go. Yeah you thought you were just
going to get a lover rackets s lovers. Okay, now
I'm going to start the printer up again.

Speaker 25 (01:40:13):
Off you go, Thank you Antsy Tomorrow

Speaker 2 (01:40:33):
For more from Heather Duplessy Allen Drive listen live to
news talks he'd be from four pm weekdays, or follow
the podcast on iHeartRadio.

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Episode Transcript

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