Full Show Podcast: 11 November 2025

Episode Transcript
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Speaker 1 (00:00):
You're trusted home for news, sport, entertainment, opinion and Mike
the My asking Breakfast with a Veda Retirement, Communities, Life
your Way, News, togs Head be sorry, You're.

Speaker 2 (00:12):
Welcome for that and Mari Party inmplosion whether anyone really
cares we got the firearms rewrite out. Today the head
of the am Z talks profits, margins, capital requirements, Catherine
Field and France. Rod Liddle joins us out of the UK. Pasky,
Welcome to the day, seven past six Lux and it
appears is going to have a crack at what he
termed on this program yesterday an elevated discussion over assets.

(00:33):
Now I wish him well for that for a couple
of reasons. One, I'm all for better, more informed public debate,
and iiO this place needs to rock it in terms
of delivery on assets. The real story, of course, about
the discussion is not the discussion, but what started it.
And what started it was he and Renny at Treasury
in his report that essentially says we can't grow our
way out of the long term fiscal mess we're in.
We need to sell some stuff. This is as big

(00:54):
a red flag as you would ever want to see.
Read the government books last week. Despite it all taxes down,
we aren't running a surplus, still borrowing to keep the
lights on for goodness sake. Economic growth even when it
does arrive, won't fix that. That is scary. So the
elevated bit is the part where he tries to convince
you that we can take the money from an asset
and reuse it better, get a better return, grow a

(01:15):
business in different ways like Fonterra well with the Lactala sale.
Consumer brands aren't there thing they can better spend their billions,
they argue. In other ways, they only had farmers to convince,
though Luckson's got at least thirty five percent of voters
to convince, along with act who's probably already on board
in New Zealand first voters who may or may not be.
That is the elevated bit. The idea of best using

(01:37):
your money is a sound one, of course. Convincing people
that and how it's going to play out though, that's
a whole different political problem. And that's before you get
to the politically charged bit of what actually you're going
to sell TV and ZEN. I mean, no one would
really care, but then it's worth nothing anyway, What about
a power company? What about an airline? That's where you
get the xenophobia, the foreign takeover talk, also the bit

(01:57):
where you will it becomes really obvious really quickly. We
don't actually have a lot left to sell. So election
year twenty twenty six an elevated discussion. Can a sensible,
possibly slightly complex idea be floated and sold in the
heat of a battle for your electoral life? Should be fun.

Speaker 3 (02:17):
News of the world in ninety.

Speaker 2 (02:19):
Seconds seems time to ivestake the damage and the resulting
damage control enveloping the BBC right now, the cheer is
out in the battle.

Speaker 4 (02:25):
There's also an impression given that we've listened to these
concerns and we've done nothing, and that is also not
an accurate representation of both what mister Prescott says and
what the BBC has done.

Speaker 2 (02:38):
As there's a former head of News who fell on
a sword yesterday.

Speaker 5 (02:40):
I'd like to make one thing very clear.

Speaker 6 (02:43):
BBC News is not institutionally biased. That's why is the
world's most trusted news provider, as are the Tories.

Speaker 7 (02:51):
It's not just the Donald Trump panor Armor program.

Speaker 2 (02:54):
It's the coverage in Gata, It's the issue with transwrtes.

Speaker 8 (02:57):
It's a whole range of issues that we see bias
pervading the BBC.

Speaker 9 (03:01):
So apologizing is one thing, taking action is another.

Speaker 10 (03:04):
As his farage, I spoke to the President on Friday.
He just said to me, is this how you treat
your best ally? I mean, people talk about election interference.
What the BBC did was election interference.

Speaker 2 (03:17):
So I take a couple of things. The shoutdown of
IBA did.

Speaker 11 (03:20):
The Senate's vote last late last night of sixty to
forty opens the door. Now the Senate is moving forward
on an amended House c R Continuan resolution that will
reopen the government until January thirtieth.

Speaker 2 (03:33):
I'll work you through that in just a moment, because
it's moderately complicated at least definitely by the way, I
want to crack at the New York governor's job.

Speaker 3 (03:39):
I'm focused on making New York moret affordable.

Speaker 12 (03:41):
How do we do that?

Speaker 3 (03:42):
We cut taxes.

Speaker 13 (03:43):
Kathy Hokele, who has a record of raising taxes and says, oh,
she's going to negotiate with mom.

Speaker 3 (03:47):
Dammy, I'm the only candidate who's going to cut taxes.

Speaker 14 (03:50):
Voters are smart.

Speaker 15 (03:51):
They know that she lies to them to try to
get elected.

Speaker 2 (03:54):
Finally, seems the International Omnipic Committee has done a bit
of a utn on the transgender policy. Currently they leave
it up to the individual'sport of course. However, The Times,
as in the paper in reporting the IOC, or as
reporting the IOC, will rule the transgender female athletes will
be prohibited from competing against biological women. It's expected to
be announced in February, ahead of those Winter Olympics in Italy.

(04:15):
The news of the world in ninety yeah, eight Democrats flipped,
so there are some I'm assuming there's some payback on that,
but I'll work your throat. It's got to go from
the Senate to the House, et cetera, et cetera. But
more in a moment. Meantime, the airports still aren't operating,
and today the FAA, the Federal Aviation Administration, limiting private
flights at dozens of major US airports. So the mess

(04:35):
still far from resolve. It is eleven past six.

Speaker 1 (04:40):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio powered
by NEWSTALKSB.

Speaker 2 (04:48):
Seems to be part of Tuesday. Juliani's out. He's been
pardoned former chief of staff Mark Meadows is out as well.
A couple of names you won't necessarily know ed Martin
Sidney Powell and John Eastman. They're all involved with Trump
and they all deny. They goes back to twenty twenty,
you know the story. Anyway, they've all been pardoned this morning.
Nicholas Sarkozy hasn't been pardoned, but he has been let
out on appeal, so he's back home as well. And

(05:10):
we'll get to Catherine before seven fourteen past, I'm sure
on partners. Andrew Callah, good morning, Yeah, good morning market,
So the PaperWorks still to do. But what's the market
think of the deal done?

Speaker 8 (05:21):
Yeah, cautiously cheering overnight what appears to be a sort
of potential breakthrough and what is the longest US government shutdown? Now,
we started seeing this during our trading day yesterday, Mike,
so when the futures markets sort of started picking up,
and so we saw quite positive reactions across the Asian
markets and you've seen it in the European markets as well.

Speaker 7 (05:44):
So the US main session trading is carried on from there.

Speaker 8 (05:48):
So, as you said, the US Senator advanced a plan
that will allow these shutdown potentially to end so you've
had this group of Democrat senators as you referred to,
have broken with a part of LEAs and voters support
a deal and goes back to the House representatives. So
not happy families amongst the Democrats. Some concessions have been made.
I think there is a pledge to have a vote

(06:09):
on healthcare at some point, and I'll let you might
follow up as you obviously will over this the morning
on all the politics of it. But from a market
point of view, I think the key issue is that
you start to get some data flowing again we haven't
had data, so you get things like the job started
will hopefully be produced CPI, and that them provides clarity
for people like the Federal Reserve, not only them, but

(06:29):
also market participants, so remove some potential uncertainty. Markets react
very negatively negatively to uncertainty. The biggest reaction has been
in the tech heavy Nasdaq and that so I guess
my concern, Mike those is whether the deal is whether
this is just kicking the can down the road, which
talks of jam thirty so we'll do this all again

(06:51):
when we come back. But of course does get the
airport's moving, people can fly around for Thanksgiving and Christmas.

Speaker 7 (06:57):
We really now need to see how this what happens
through the rest of the through the.

Speaker 2 (07:01):
Process right back home. Vital we probably don't know the name,
but Ascott and Wakefield are very well known.

Speaker 7 (07:06):
That's dead right. So it's one of those ones which
you're probably aware of but not aware of.

Speaker 8 (07:10):
So Vital Healthcare went into a trading hot Yes, if
you're not familiar with them.

Speaker 7 (07:14):
They are a listed property company.

Speaker 8 (07:16):
They're the only specialist owner of healthcare property listed on
the Interdex.

Speaker 7 (07:20):
So quite a niche sector.

Speaker 8 (07:22):
But you're looking here at private hospitals, age care facilities
and outpatient buildings in Australia. You've got Ascott, You've got
Bullcot down in Wellington, Ascot and green Lane. Market capitalization
of circa one and a half billion dollars, so it's
quite a big business. Trading was halted yesterday in shares
as it went to shareholders to raise two hundred and
twenty million to effectively buy itself out of its management contract.

(07:46):
So what happens here is the trust owns the assets,
but management of those assets and the balance sheets that's
outsourcedince this case is to a Canadian fund manager. Called
Northwest Healthcare Properties Management. So the idea behind this deals
that vital shareholders will benefit from no longer paying a
fee to Northwest for the management. Instead, an internal team

(08:08):
will look after the assets. Should save in about twenty
million dollars a year. The common wisdom is this better
aligance shareholders and management interests.

Speaker 7 (08:16):
The issue, of course is that Northwest here.

Speaker 8 (08:18):
Has perpetual management rights, so you've got to buy them
out of the contract in this case for two hundred
and fourteen million dollars.

Speaker 7 (08:25):
Now, this has happened with other property trust Mike.

Speaker 8 (08:27):
We saw this with Precinct, saw this Goodman property as well,
So there's a sort of trend away from external management
to internalized management. New shares have been sold approximately attempt
cent discount, should resume trading today, and I guess the
context here, mic is that the property trust sector has
enjoyed quite as stronger and recently because those falling interest rates,

(08:48):
it sort of increased the attractiveness of what are relatively
stable dividends and distribution.

Speaker 7 (08:53):
So action on the internet.

Speaker 2 (08:54):
Hey, listen, I just quickly, what's the state of the
current vintage of Sophia.

Speaker 7 (09:00):
Well, I can't talk about the current ventures.

Speaker 8 (09:02):
But I did drink some twenty fifteen and it was
magnificent nice, yeah, very quick. Just my confidence restored. The
speaker series at Craigi Range was down there on Friday three.
Connor arch Board from Tracksuit bohen Pan, who's the ex
Westlake guy who convinced Zuckerberg to launch Facebook marketplace. Shawn
Quincy wrote, the Tasman found the company of Genope in

(09:22):
a tough year for New Zealand. Business mate, my faith
was restored that we can produce leaders of a global standard.

Speaker 2 (09:29):
Good stuff. Glad you had a good time. You spend
how many weeks a year at Craigie Range, just.

Speaker 8 (09:36):
Like on average fleeting visits, fleeting visits amongst my very
busy schedule.

Speaker 7 (09:41):
You know that much?

Speaker 2 (09:42):
They say, right O, what are the numbers?

Speaker 7 (09:44):
Numbers?

Speaker 16 (09:44):
So here we go.

Speaker 8 (09:45):
The DW Jones is up seventy one points point forty
seven fifty eight, the S and P five hundred up
about one percent, sixty five points sixty seven nine three
bus said, the Nastak's up three hundred and sixty eight
points one point six percent. I think the mag seven
index up just one point nine percent. So that's contributing
most is that twenty three thery three hundred and seventy

(10:07):
two is the mark. The Forts one hundred up one
hundred and fourteen points one point one eight percent nine
seven ninety six. There the nick A six hundred and
thirty five points one on a quarter percent fifty thousand,
nine hundred and eleven, the Shanghai composite up half a
percent twenty one points all good, the A six two
hundred up three quarters percent sixty six points eighty eight

(10:28):
three five.

Speaker 7 (10:29):
We managed a very slim rally on the n.

Speaker 8 (10:31):
S next fifty up eighteen points to thirteen thousand, six
hundred and seventeen Kiwi dollar, though continues to languish down
in the low fifty six's point five sixty three to
zero against the US put eight six three seven dozs
a point four eight seven seven euro point four to
eight oh pounds eighty.

Speaker 7 (10:48):
Six point seven one.

Speaker 8 (10:49):
Japanese end goal has gone back over four thousand dollars
is four thousand and ninety two, and Brent crude sixty
three dollars and thirty eight cents.

Speaker 2 (10:56):
Cat chup to Murramine Andrew kellerhurs Sure and Partners Hosking
and if you want a Christmas wine, you can do
a lot worse than the the Craggy Range, Sophia. I
can tell you Uber by the way they came out
last week, but I forgot to give you the numbers.
The interesting thing is they seem to be doing well.
Their revenue generally is up. It's billions of dollars. This
is globally, not just Uber here, but globally. So mobility,

(11:17):
which is your Uber ride is up twenty percent year
on year. On the delivery is up twenty five percent.
So they seem to be going very nicely. Thank you.
Eight twenty one here a News Talks EDB.

Speaker 1 (11:33):
Good the Mike Hosking Breakfast Full Show podcast on iHeartRadio
powered by News Talks EDB.

Speaker 7 (11:40):
Yeah.

Speaker 2 (11:41):
The interesting thing that there's going to be political fallout
about this end of the shutdown. Eight senators, as Andrew
alluded to, flipped, that's not the main thing, mate. So
what they agreed on reversal of all permanent layoffs, set's
good guarantees that all federal workers will be paid normal
salaries during that shutdown, includes provisions for having a bipartisan
budget process preventing the White House from US and continuing
resolutions to fund the government. All that stuff's fine, but

(12:04):
the key loss for the Democrats, if you want to
make it political, does not include an agreement to extend
the Affordable Care Act and those tax credits. That was
a major sticking point for the Democrats. Now here's the problem.
Not only did the Democrats flip eight of them rolled,
but what was apparently the reason for being your uss
on debt all of a sudden isn't So There'll be

(12:27):
many Democratic supporters going, what the hell was the point
of that six twenty five trending?

Speaker 3 (12:33):
Now with them warehouse the real house of frequencies.

Speaker 2 (12:36):
Speaking, which sort of a related matters. The Donald was
at the football yesterday. Commanders were playing the lines. They
may or may not end up naming the new Washington
Stadium after him. We told you about this this time yesterday. Anyway,
he swore in some new members of the military at
half time. Then he hit the Fox Sports commentary booth.

Speaker 17 (12:52):
They played Titan But I mean it was not quite
football like this. It was a little bit easier. It
wasn't so tough. We had a quarterback who didn't have
a very strong arm. I would say ten yards was
a long pass.

Speaker 13 (13:04):
We were trying to look up your stats and we
wanted to know how many touchdowns did you have back
then seven.

Speaker 17 (13:11):
I'm not sure I had any. It's a long time ago.
But at least you realized that I never tell a lie.

Speaker 2 (13:18):
Right then, he did some play by play while the
Commanders were in the rid zone down thirty two teen.

Speaker 14 (13:25):
Would you like to call a plane? Well, I would
like to do that if you'd like me to.

Speaker 17 (13:29):
But I will say that your first three quarterback has
the potential, I think to be a great quarterback. He's
got to stop the injuries somehow. And let's see we
have a very important I think it's a very important
couple of plays. Here we go seven, right, second and seven.
Let's see what happens.

Speaker 3 (13:45):
Well, that's all right, crosskey, Marrit not bad.

Speaker 2 (13:49):
Takes a time to the five yard line.

Speaker 17 (13:50):
That's right, that's right, good, good runner.

Speaker 16 (13:53):
There we go.

Speaker 17 (13:54):
This is a very big play. Don't you think I
think they have to get a touchdout. Let's put it differently.
They just have to get it there he go. Now
you're doing because that's what I was going to say.

Speaker 2 (14:03):
Yeah, So, not the greatest commentator at least he was
in he seemed he seemed almost likable, almost likable. The
Lions went on to win forty two twenty two, as
they should have. The references to a guy it's Jaden
Daniels isn't as danders yees so anyway, he's a young guy.
He's a hot talent quarterback for the Commanders, but keeps
on injuring himself and if that happens, he's unfortunately never

(14:23):
going anywhere. He's currently out. He injured himself last week.
So the Lions won forty four to twenty two. That
leaves the Lions at six and three and the Commanders
at three and seven. The Commanders at the beginning of
the season actually looked like they might be something, but
now they're not. What was the game I watched yesterday?
The one late in the afternoon was a disaster, That
was Aaron Rodgers and the Steelers loss. But earlier on
in the day the Patriots won, and the Patriots are

(14:45):
back in a big, big way. Yeah, was at the Bucks.
It was That was the one I was excited about
because the Bucks and the Patriots are both real contenders
this season, so you were thinking he was going to
come out on top, and as it turns out, it
was the Patriots. We've got some problems around housing. Oh
my lord, when was the last time I said that
on this program? We've got some problems around housing. This

(15:06):
time it's townhouses. So more in a moment after the news, which.

Speaker 1 (15:09):
Is next, the newsmakers and the personalities, the big names
talk to Mike, the mic Hosking, Breakfast with the Defender,
Embraced the impossible, news talks dead be cos he's out
on appeal.

Speaker 2 (15:22):
That appeal trial starts next year, so he's back home.
At least. We'll get the update from Catherine Field for
you shortly. Meantime, back home at twenty three to seven.
Some questions being raised this morning around construction, specifically on townhouses.
Do we have an oversaturated market? Our developers focusing on
maximum returns while paying little attention to design and comfort.
Dan Richardson is the director of KR Construction and is

(15:42):
with us.

Speaker 18 (15:42):
Dan morning, Good morning, mate, Thanks for having me.

Speaker 2 (15:45):
Not at all. Where's this come from? Who's talking about this?
Why is this a problem?

Speaker 18 (15:50):
Yeah, so we're interested in having a conversation about what
works and what doesn't for medium density housing. There's been
some negative media coverage recently around a couple of things
to do with quality for that type of housing, specifically
overheating and also some issues with ventilation. And we think
that buyers can benefit from a bit more understanding about

(16:12):
what works and what doesn't this type I and so.

Speaker 2 (16:15):
Has this been a Buiaberware type scenario, because I would
argue that you know, in the marketplace, if you're building
shonky houses, no one's buying them because there's others to
choose from, or is what's happening These people are buying
them with no idea of how hot you're going to
get and how badly designed the place is.

Speaker 18 (16:30):
Yeah, I think, you know, building townhouses is a relatively
new typology in New Zealand. We've had about one hundred
and fifty odd years for you know, a fairly standard
standalone house on a large section to develop, whereas it's
only been in the last ten years or so that
a lot more townhouses have been built. So I do
think there has been a bit of a lack of
buyer awareness and you know, that's that's something I'm hoping

(16:52):
to have a conversation about, how.

Speaker 2 (16:54):
Does the whole system work or not work? How is
it possible if you go back to England, they've been
living in these sort of townhouse time operations for hundreds
of years. How is it that it's news in New
Zealand and nobody from the council down thought about how
to design something properly.

Speaker 7 (17:09):
Yeah.

Speaker 18 (17:10):
I think we've been quite lucky in New Zealand and
we've had the luxury of having a bit more land
and a bit less population density. And I think it
is that change in population density and changes in housing affordability,
changing households and lifestyles that are driving than the change
towards more townhouse development.

Speaker 2 (17:28):
Is it just cost?

Speaker 18 (17:31):
I think predominantly there's a cost factor. And I think
it's also to do with household sizes. You know, the
average household size so New Zealand is now two point
seven people, So we used to demand for really large housing.
Isn't there as much as it could have been in
the past. Also, people's lifestyles wanting to live a bit
closer to town, live in suburbs, you know, close to
their existing relationships. But you don't get me wrong with

(17:54):
affordability is a mass effector in that as well?

Speaker 2 (17:56):
Of course, how do you tell one townhouse from another,
one that's badly built and is going to heat up
and kill you versus one that's really beautiful.

Speaker 18 (18:05):
That's part of the problem really, you know, the building
Code doesn't really provide there's no provision in there for overheating.
There's no provision in there for you know, providing really
good ventilation above the the A minimum. So we think,
you know, there's some good tools out there. We're a
member of the Green Building Council, which provides a tool

(18:26):
called Echo which can measure overheating. It also provides an
independent standard called home Star where you can sort of
crack the quality of this housing over and above the
A minimum and the building Code. So there are tools
out there, and I think it's about people having good
conversations with the builders or developers that they're potentially purchasing
from exactly and understanding.

Speaker 2 (18:46):
Well, let's hope we've spoked the conversation. Let's hope people
become aware. Dan Richardson, who's the director of KR Construction,
it seems my entire life we've had problem with housing
in this country. Haven't built enough, then built too many,
then we've built ones that leak, and then we decided
to rules on the ones that leak. There's an apartment
building around the corner for me at the moment, brand
new building still leaks all these years later after a

(19:07):
leaky still building leak. It's just like we don't seem
to be able to get it right.

Speaker 1 (19:10):
Nineteen two The Mike Hosking Breakfast Full Show podcast on
iHeartRadio powered by newstalksp.

Speaker 2 (19:19):
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(20:26):
Get your business running on business fiber. Pasking scot to
Cybernight have been busy rejected a call to overturn their
decision on legalizing same sex marriage. To this nationwide call.
The appeal came from a person called Kim Davis, former
Kentucky court Clark. She was the one who refused to
issue marriage licenses to same sex couples. This was when
they ruled originally in twenty fifteen. So the lawyers repeatedly

(20:46):
invoked the words of Clarence Thomas, who was among the
nine justices at the time. He's among four dissenting justices
back in twenty fifteen. Roberts was the other one. Alito's
still there. They're still on the court Roberts has been
silence on the subject. Anyway. The upshot is they got
nowhere six.

Speaker 19 (21:02):
Forty five international correspondence with ends in eye insurance Peace
of mind for New Zealand business in France.

Speaker 2 (21:09):
Is Tuesday morning, paspe morning to you, good morning. Make
the Sarkozy thing, is they much uproar or is this
just what happens when you when you're appealing and you're
not a flight risk, you can go sit at home
and wait for your trial.

Speaker 6 (21:21):
Indeed, that seems to be it age and the fact
that he's a former head of state clearly came into this.
The appeals court this morning ruled that he could be
freed from prison pending that appeal over the allegations that
he was part of a scheme that got funding from Libya.
There were several things the judge came up with. The

(21:43):
most importantly was that he was not a flight risk.
This is a man who can't just sort of jump
on a plane and go somewhere and no one would notice.
Said that he'd behaved and had abided by court orders.
And then the other point they came up with was
that Sarkozy himself said the trial of jail was enough
to deter any breach of the restrictions that would be

(22:05):
placed on him. So, after what twenty days in Paris
prison for criminal conspiracy, he was picked up by his wife,
full model Carla Bruni and taken home, where he will
no doubt stay. A couple of hours after he got home,
it was announced that, in a break with tradition, he
will not be among those the November eleventh Remembrance state

(22:29):
service at the after Trimph in Paris.

Speaker 2 (22:33):
Okay, this Belgian thing over the weekend, how many times
do airports need to be buzzed by Russian drones before
Europe goes beyond having yet more meetings and tought we
better do something and actually does something.

Speaker 6 (22:46):
There did a lot of problems about what you'd actually do,
but yeah, it became more of a problem on Sunday
night in Belgium because five drones were spotted over a
nuclear power plant. And this came a couple of hours
after an airport in the Age eastern Belgium had to
be closed down again surge of drone activity around that.

(23:10):
Here's the problem, Mike is shooting these things down. Yes,
the Brits, the French and the Germans are going to
be sending personnel and equipment to try and do something
about this disruption, which is not just happening in Belgium,
but Belgium seems to be the focus at the moment. Yeah,
shooting these things down is very difficult. Not only do

(23:30):
you have to have the equipment there, which France definitely
has got, but then you have the concern about where
the debris fought will fall into someone's front room, and
if there's explosion on board, are you going to blow
up that house. All these things you know it could be,
are an issue. Really, So what they're working on is
they interfere with the electronics on these drones. This is

(23:51):
all the sort of technology that should have been up
and running because, as you're right to say, this is
something that's been going on for some time and they
have had the kit to be able to do something.
The next question is why Belgium and why has it
been over the last week the airport and the capitol
was closed down, The port and Antwerp was closed down.
There's a possible link where Russia. The Defense Ministry says

(24:16):
it's more likely than not Russia is behind it, and
that could be the possible link to discussions over the
use of frozen Russian assets held by a financial firm
in Belgium because the EU you want to use that
to fund a loan to Ukraine. So that could be
why Belgium is in the forefront of these drone attacks.

Speaker 2 (24:38):
If I had a tin hat, Catherine, and I'm looking
at the photo of the Fedoramain and I'm saying, I'm
looking at the for door Remain and I'm going he
just happened to be there, and he's dressed the way
he is, and he happens to be a fan. I'm
thinking I could draw some dots. I mean, what do
you reckon? I mean, it's the weirdest photo in the world,
isn't it.

Speaker 7 (24:59):
Yeah, You're right, it is.

Speaker 14 (25:00):
I mean apparently and I apparently.

Speaker 11 (25:03):
This is what he says.

Speaker 6 (25:05):
This fifteen year old boy, Pedro, who lives in the
southwest of Paris. He dresses like that all the time.
His dress code is Classics nineteen forty is ventage. This
is how he dresses. And that was just a fluke
that on that day he was wearing that three piece
suit or a hat, which he's been wearing all for
the last couple of weeks. And he just happened to

(25:27):
be going to the Louver on that day with his
mum and one of his grandparents and he there he was.
He was standing in front of the police. Apparently he
didn't know about the highest he turned up. He was
talking to the police and that was when a photographer
took that snap.

Speaker 3 (25:42):
Yeah, he says he.

Speaker 6 (25:44):
Laid low because it was quite amusing to what the
internet does that went up around.

Speaker 2 (25:48):
It's not surprised, all right, nice to catch up Catherine
Field in France. The only reason I give him the
benefit of that when I was nineteen years old and
I was working for four ex oneder Need, I wore
three piece suits and so you think, what weirdo. He's
not the only weirdo out there, by the way, people
are on the streets of Lisbon at the moment. In Portugal,
their government, which is sort of center right these days,
wants to change a few laws around work, you know,

(26:09):
how you sack people and stuff like that, and the
unions don't like it. So they're on the street. And
if you want to read a really interesting piece about renewables,
which is where we're heading, look at the BBC piece
of red over the weekend Netherlands renewables dry, putting pressure
on the power grids. So they're all they're all gun ho.
They all love the evs and they all love the
solar and the wind and all the other stuff, but
their stuff. They're increasingly dealing with power cuts on an

(26:30):
ongoing basis. So look that up and have a read
and wonder to hear yourself whether we're heading in the
same direction.

Speaker 1 (26:36):
Nine to seven, the Mike asking breakfast with Beiley's real
estate news talks.

Speaker 2 (26:41):
They'd be Mikes Labour even going to need the Murray Party.
The Murray voters will probably vote for Labour. Now, well,
what makes you say that? And I highly doubt they'll
get above four percent. The four percent is not relevant.
It's a five percent threshold. And more importantly, the Murray
Party aren't above that threshold, never have been, never will be.
They win the electorate seats, so the key is the
electorate seat. So yes they will. But interesting point, my

(27:02):
can'd design houses in Auckland? People now want standalone houses?

Speaker 12 (27:05):
Again?

Speaker 2 (27:05):
Is that true? Stats don't say that council only focus
on bulkan location, not the actual design and aesthetics like
other countries. It's back to front antiquated thought process that
produces ugly crap. Steve on that I wholeheartedly agree. Five
minutes away from seven.

Speaker 3 (27:20):
For the ins are the outs. It's the fizz with
business fiber. Take your business productivity to the next list.

Speaker 2 (27:27):
Here we go, Greenshoots, Central Countries SME Smeth's feeling confident, confident,
confident about the economy. So we got data from Prosper's
SMEs Sentiment Tracker report. Ninety two percent. That's virtually everyone.
I mean, let's just say everyone very or somewhat confident
about the next twelve months ninety one percent. So the
confident with about the next five years what next five years? Interestingly,

(27:50):
doesn't necessarily translate to the profits. The report describes the
mood as high self confidence, lower market optimism though seventy
two percent. So they expect profits to rise or remain steady.
I mean, that's not bad. Tenty two percent. Three quarters,
that's the bulk. Twenty six percent expect profits to decline.
Business health ratings down. Fifty five percent say their business
is good, down from sixty two percent last year. I

(28:11):
don't even know what good means. I mean, what a
vague word that is? What are the issues, Well, you
know what they are, rising costs, revenue and market demand,
economic environment, workforce and staffing issues. I mean that's all
the same thing, really, but fifty one percent rising costs
the biggest. Staffing and recruitment still the largest cost, followed
by government payments and tax SMEs are adapting instead of
just waiting for recovery. They're going through the options, is

(28:34):
what they're doing. Thirty four percent or adjusting pricing, thirty
one percent of diversifying their offerings, thirty one percent of
investing in marketing and promotion avenues, twenty eight percent of
hiring more staff. So twenty eight percent of hiring more staff.
That's encouraging. That'll reflect the job ads that are up.
All those numbers are ups and saful, so I mean
you can't argue with that. Broadly speaking, that is a
pretty positive picture about SMEs. And you know how I mean,

(28:56):
is it ninety something percent of SMEs make up the
New Zealand economy, a country of small and medium businesses.
Basically right, the Maray Party do we care? First question,
do we care of some minor bit of political frippery
on the side want to go and implode do we care?
So what I can't understand is the business of the
council be the caucus. Where's the walker jumping law involved

(29:19):
in this? And given two of the six leaders, that's
the third of the caucus all by itself. So you've
got the numbers problem there. So anyway, what's going on
will get some inside after the news, which is next.
You're a news talk said, be.

Speaker 3 (29:33):
Credible, compelling.

Speaker 1 (29:35):
The breakfast show you confess it's the Mic Hosking breakfast
with Bailey's real Estate doing real estate differently since nineteen
seventy three news talks head be.

Speaker 2 (29:44):
Well seven past seven, Well is quite the show. The
Murray party, you're expelling cup Kinging and Ferris. Of course
they'll become independence. They're going to fight at whatever that means.
Baden Barbara is the spokesperson for the Ebechair's Forum and.

Speaker 15 (29:54):
Is with us.

Speaker 2 (29:55):
Baden morning to you morning. What your role in this
and what happened yesterday? Is this all part of the
plan or not?

Speaker 9 (30:03):
No, no, no, no no no. We've we were trying
to get to a meeting together on Wednesday actually to
see if we could find a way forward. But this,
you know, this has been a process that's been happening
within the initial Council of the Maori Party and then
they've come up with their decision.

Speaker 2 (30:22):
When you say Wednesday you mean tomorrow. Is that still
going ahead? Is there any point?

Speaker 9 (30:26):
No, it's not going ahead. We're going to hold off
on the on the meeting Tucketa and Mediumental. You know,
they've got things to consider, what their nixt moves are,
and yeah, there was probably not going to be the
best time day that we.

Speaker 2 (30:44):
Can you explain to us in really simple terms, when
what does it these two have done specifically?

Speaker 9 (30:53):
I'm not too sure. I'm not too sure that the
grounds is why they've been kicked out of the party.

Speaker 2 (31:01):
See, isn't that the problem? No one seems to know
what's going on.

Speaker 9 (31:04):
Well, I mean, would we had our meeting with the
co leaders. I mean there were some issues there, but
whether or not those specific issues were the reasons why
they were kicked out, yeah, yeah, But yet we've always
identified that as a problem that they're not talking to
each other. They haven't been talking each to each other
for a month now, and so if we could get

(31:25):
them in a room on them and I together have
face to face conversations, you know that it goes a
long way, goes a long way.

Speaker 2 (31:32):
But when they say they're going to fight it, fight
it with who, Well, I.

Speaker 9 (31:36):
Guess so they'll they'll go back to the National Council
who made the decision and in public case?

Speaker 2 (31:45):
Does that have any standing anywhere in law? Or is
this just a group of people sitting around making a
few decisions and they're just arguing with each other.

Speaker 9 (31:53):
Well, yeah, I think that. You know, the party's got
its own constitution and rules, and so you know, of
by the reports, I've used the constitution as is the
reason to to kind of move them on.

Speaker 2 (32:10):
See the problem I have? I mean, I don't have
a problem because I don't care. But when you talk
about the Maori Party and the EWE Cheers Forum, how
many actual Maori do the do you guys represent? In
other words, you know plenty of Mari you're just getting
on with their life and couldn't give a monkey about this,
you know, I mean they don't represent Maori them, do they?

Speaker 9 (32:30):
Oh? The ee chaers, So we've got we've got big
ewie small ewe eighty eight in total. I would say
they would represent a big chunk of Mary. They are
registered on the EWE enrollments. So yeah, yeah, it'd be thousands,
thousands of mary So.

Speaker 2 (32:49):
So what's your hope, basically they will get on get
thereack together and stop embarrassing themselves.

Speaker 9 (32:54):
Well, we hope that we could find some reconciliation that
we're a year out from a very important election and
that the Marti Party needs to be organized in dropping
policy at this time, not having in fighting. So, I mean,
we we concerned with the well being and in the

(33:16):
future of our people and the Marty Party has a
role to play in any government going forward.

Speaker 2 (33:20):
Why don't you stand for the new sounds sensible.

Speaker 9 (33:24):
I've got a big I got a big job trying
to look after my own are not going and one
hundred thousand people, And yeah, we've got we've got a
lot of issues that we're trying aspirations in dreams, we're
trying to trying to achieve. But I mean, the Marti
Party got a they've got a really important role to
play in helping EWE achieve our EWE explorations and and

(33:45):
then and so that's really important and that's kind of
why we've we've stepped in to try and find a
way forward.

Speaker 2 (33:50):
Well, what's your best with it, Biden. Appreciate your time,
Biden Barber, who's these spokes visited? But the EECH is
four and eleven past seven pars getting old text machines
off and running. I'll have your feedback shortly. We've got
to look the government, will get a look at the
government's Rewright of the Arms Act today. Current laws go
back to eighty three argument as they're outdated. Nicole McKey
has led the charge for change. Gwinn Thurlough is the
CEO of the New Zealand deir Storker's Association. Good Morning,

(34:12):
good morning, make no draft. So is what you're getting
a surprise or have you got a hint?

Speaker 16 (34:18):
No, we're getting a complete surprise that it's been very
hush hush.

Speaker 3 (34:23):
Why.

Speaker 16 (34:25):
We think it's because there's a lot of risk of
interest groups and the really pro gum people and the
anti gun people getting upset before they read the whole act.
And I think we're as the sort of middle of
the road hunters and gatherers here, we're sort of also
kept in the dark until we see the full rewrite
when it's launched by the government.

Speaker 2 (34:44):
What's your vibe on Nicole McKey? She a sensible person
will do right by you or this could go pair shape.

Speaker 16 (34:50):
Look, she's actually quite well respected, and she's well respected
within the firearms community, and she used to be an educator,
so she worked for the Mountain Safety Council, were the
EWE groups on a program called Fuckatu Patou which helped
to get outreach on safet use of firearm. So within
the community she's seen of someone that might be able
to walk the fine line between, you know, balancing public

(35:12):
safety and everyone's interest in having the lawful use of
fire arm. So there's a lot of trust in her
and hopefully she uses that wisely when she rewrites the fact.

Speaker 2 (35:21):
All right, we'll see what she has to say today.
Gwin appreciated Gwin Thurlow, who's the boss of the Dear
Stalker's Association. Thirteen minutes past seven light. So over the
last six weeks, all this in finding among the Marory party,
what value have they provided their constituents in even the
position they hold while earning a significant income. It's a
very good point. They're not the first political party to
have a meltdown, of course, so let's not make it
a race based thing. And a lot of you asking

(35:42):
about the coverage. How can the Mary Party get so
much coverage? Will every time a political party implodes in
this country, there's plenty of coverage for it. But your
point about the policy, and this is what the Prime
Minister was saying post conference yesterday. They are a joke,
They are an embarrassment. There is nothing about policy. It's
all performative and if they implode in disapplaire, I don't
think anyone's going to miss the thirteen.

Speaker 1 (36:01):
The Mike Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 2 (36:06):
A'd be Antonia Watson is the CEO of AIN said,
of course a very successful profit yesterday, although you use
bank and profit together and you get a bit of
angst in this country at the moment. So she's with us.
After seven thirty sixteen past new report, this one into
the government's promised to cut same red tape? Are they yes?
So what have we got? A year on positive steps
in reducing compliance cost? Most issues are showing progress, so

(36:28):
this is all good. We've seen the hairdressing regulations of course,
the employment leave disputes, the government procurement, the anti money
laundering rules changed anyway. Catherine rich Is the Business New
Zealand boss and is back with us. Catherine, good morning,
good morning. From what they've done out of ten, ten
is perfect, ones a bust. What's your number?

Speaker 15 (36:44):
I'd say about a seven. I mean there's more progress
to be made in a number of areas. But changes
to some of the things you mentioned are pretty significant.
Changes to government procurement, getting rid of forty years of
stupid hairdressing laws, health and safety holidays acts. It's a
lot of good work. Some haven't engaged though, so this
room for progress.

Speaker 2 (37:05):
The Ministry of Regulation. Is this all they're doing and
therefore is this a justifiable ministry?

Speaker 15 (37:12):
They have been part of the change. I mean they
are another place for business to take some of their concerns.
But when the Business New Zealand Network did this survey
of small business, we actually took the results to about
seven different government departments. So most of the government departments

(37:32):
have been engaging, some haven't.

Speaker 2 (37:35):
Is that part of why the Ministry of Regulation may
well work? There are too many government departments overseeing each
other's work and therefore it becomes problematic and unproductive.

Speaker 15 (37:43):
Well, it's another way in to raise issues. So that's
why I am a fan of the Ministry for Regulation.
It's been a way of raising issues with departments, particularly
if the department doesn't want to put stuff into their
work program. So you know, overall, I think the progress
has been good one year on where we're pretty pleased
with some of the responses from departments, but there's work

(38:06):
to be done. ACC I think needs to make some
changes on case management and helping businesses clarify when people
can get back to work. Business usum's a champion for
the small business, so this is just another way we
keep the pressure on good.

Speaker 2 (38:24):
But the hair dressing, as much as I'm all in
favor of getting rid of red tape and all it,
so the hairdressing stuff was almost comedic, wasn't it. I
mean stupid laws yes, and get rid of them, yes,
But it didn't change the world, did it.

Speaker 15 (38:35):
Well, it's still a sector which is about which is
worth about one point five billion to the economy, and
if you were in that sector, it was a big deal.
And this is a thing with small business red tape.
When you've got ninety seven percent of all businesses being small,
the red tape that they face can be significant. So
you've got to go sector bisector to get.

Speaker 12 (38:56):
Rid of it.

Speaker 15 (38:57):
That's about the only way to reduce red tape.

Speaker 2 (39:00):
Right, Catherine, appreciate your time. Let's hope, hope they keep
up the good work, Catherine Rich who is the Business
New Zealand Chief Executive, Mike, Nobody votes for the married
party for policies. It's just ignorant fools who get duped
into voting for them. Well, that's called democracy, my friend.
It doesn't matter how you vote, why you vote. You
can vote, and if you do, you do exactly. Why
does a fringe activist party Mike with three percent get
so much pressed? Well, simple reason, they're legitimately elected into

(39:22):
the House of Representatives and two they may well be
part of the government. They may well be running the
country next year. So it's important.

Speaker 1 (39:30):
Seven The Mike Asking Breakfast Full Show podcast on iHeartRadio
powered by newstalksp.

Speaker 2 (39:41):
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dot co dot nz and along with Grizzly AI innovation
leaders in cloud computing and AI asking. It is seven
twenty three now I'm trying to work out what the
ratio would be, how much squeaky clean beyond out rock
solid truth with the BBC need to deliver to offset
the one gargantuan cock up that has seen the Director
General and the head of News quit. Or in this

(41:06):
day and age where doubt and mistrust is so high,
is it a futile exercise and the damage is basically permanent?
Like all stories, you can dilute its seriousness. I mean,
the Panorama program wasn't actually made by the BBC. It
was a contract company. So was the bias external not internal?
Obviously I'm clutching its straws here. Does a resignation mean
the organization is no longer biased or perceived as biased?

(41:26):
I would have thought not. I mean, how do you
prove inherent bias anyway? Which is not going charge not
just at the BBC but a number of public broadcasters
all over the world. I mean I cited the Radio
New Zealand example yesterday out of the boot Camp report.
Their headline read the conclusion was of a rushed exercise.
That wasn't the conclusion. It was an observation, not a conclusion.
But even if you argue the observation was a conclusion

(41:48):
that would mean there were many conclusions. Why I pick
that one when there were positive ones to choose from
as well?

Speaker 6 (41:53):
Now?

Speaker 2 (41:53):
Is that inherent bias or just a busy journalist looking
to publish a story? Are we the punter, inherently biased
and therefore or whatever we see we don't like well
must be biased. The BBC bit is, of course indisputable.
It's not about inference or emphasis. It's about making something
seem real, which factually wasn't. I mean, they made it up.
Why would you do that unless you had an agenda?

(42:15):
Why would the BBC not spot it? Too busy or
too biased? The Culture Secretary said, now more than ever,
the need for trusted news is essential to our cultural
and democratic life, which is what they say when they
have carnage to deal with using taxpayers money. The BBC
were already booked in this week, ironically, for a parliamentary
inquiry into their coverage of trans writes in Gaza, cementing

(42:38):
in many people's minds what they already suspected. My summation
is basically, it's over the juries and the verdict is
guilty and the people are always right. Whatever the media
might once have had by way of respect and trust
is largely, if not completely gone, and two resignations cemented
any remaining doubt asking. The key question to ask Intindia

(42:59):
is whie to banks and Zealand charge far higher margin
on floating rates in Australia it's around double the margin.
It's not it's a bit higher, but it's a bit
less but not much more. And I'm giving you that answer.
How many times have I given that answer on this program?

Speaker 7 (43:13):
Fifteen hundred.

Speaker 2 (43:15):
But I'll explain it when well, I'll look alask and
Tonia just for you and she can explain it yet again.
But it's got to do with the Reserve Bank. It's
got to do with the money they put aside for
a rainy day, and those rules are changing, and that's
why that conversation is now important. Mike christ it's got
quite a few terraced houses in the city. This goes
back to our interview an hour ago about his building.
Crappy old townhouses that heat up and kill people esthetically

(43:37):
look stylish, unlike the cheap, ugly builds in Auckland. I
suppose it's what you get in a rebuild, isn't it.
People actually think about what's going on architecturally. Speaking morning Mike,
when do we hear about the three remaining Red Bull
seats end of the season. They're focusing on Max at
the moment. Max has a chance, not a great one,
but a chance of winning the championship for a fifth time,
so they want to focus on that. Watch Ted Kravitz yesterday.

(44:00):
I like Ted good a lot of time for him.
He's part of the F one coverage for Skysport UK.
He spoke yesterday as Liam was a foregone conclusion. Lynn
bladd Lawson Bye bay Yuki. That seems from his soundings
over the weekend, that seems to be pretty much how
it's going to unfold. All we're waiting for now is

(44:22):
the actual announcement, right Banking Profits margins more shortly after
the news here on the Mike Hosking Breakfast, The News.

Speaker 1 (44:29):
Talks twice, no fluff, just facts and fierce debate. The
Mic Hosking Breakfast with Vida Retirement, Communities, Life Your Way
News togs headbs.

Speaker 2 (44:42):
It's away from late so it's bank profit time again.
Westpac last weekend's in first cab off the rank this
week and the number is a large net profit of
two point five three billion, which is up over twenty percent.
And Tony Watson is the AMST CEO and is with us.
Good morning to you, Good morning mate. In general, how
comfortable are you talking about numbers the size.

Speaker 5 (45:02):
In general when you think about the context of our
size in New Zealand, they are very big numbers. And
a headline growth in the cost of living crisis of
twenty percent is very uncomfortable. And I think it's just
trying to get the cut through that that headline number
is caused by a whole lot of accounting noise around
our around valuing our derivatives, and the actual underlying number

(45:24):
is four percent.

Speaker 2 (45:25):
Right, the margin is up three basis points to two
point six So how do you defend that?

Speaker 5 (45:32):
So, I mean, one way of looking at it is
that we've had to put in one point two billion
dollars of extra capital this year as we are meeting
the new capital requirements. That comes at a cost to
us all other things being equal of ten percent, sorry,
ten basis points. So a three basis point increase in
margin to me means that our shareholders are wearing part
of the pain of the additional capital as well. And

(45:54):
I think that's, you know, on balance, is probably fair.

Speaker 2 (45:57):
They RB rewrited these rules they get help you out
materially on there for us.

Speaker 5 (46:01):
Or not not not materially. They RB have put out
two proposals. The first one has a little bit more
of the most expensive form of form of capital, which
is common actually tier one in it, and the second
one has more overall capital, so the actual So the
capital changes put upward pressure on pricing. If you want

(46:24):
to maintain your returns the same, there isn't much difference
in that upward pressure given those two options.

Speaker 2 (46:31):
So this is our b wheelhouse. But Nicola Willis wanted
to rewrite and she wanted something a bit betters. She
lost that battle.

Speaker 5 (46:37):
Then look, it's still under consultation and so we've put
up a third proposal, which we think is really balanced,
and it's under consultation and where we're anxiously awaiting the results.

Speaker 2 (46:48):
So what's your proposal.

Speaker 5 (46:50):
Our proposal is to align with the Australian proposal. They
are also they're also changing their capital models. Australia and
New Zealand have two of the most highest capital ratios
in the world even currently when you align them on
an international basis. But we think that there's some efficiencies
not just with banking but in general if we align
as much to Australia as possible, and if we did that,

(47:13):
we would there would be less there'll be less upward
pressure and prices, but also we would still be maintaining
a more conservative capital stance because there is some more
conservatism in our underlying calculations the way we do it
in New Zealand. So we feel like it's a balanced option.

Speaker 2 (47:29):
So we'll see what's your read on whether you're going
to get any cut through on that.

Speaker 5 (47:34):
I don't know.

Speaker 2 (47:35):
I don't know.

Speaker 5 (47:35):
I mean, the Reserve Bank have actually been very very open.
They've been listening through the consultation. They've been very clear
that they want everyone's views. So we'll see where that goes.

Speaker 2 (47:45):
How much of this conservatism around the amount of money
you've got to put a side is based on the
fact we're small and therefore allegedly fragile. Is that part
of it or not?

Speaker 5 (47:53):
Look, Mike, I completely agree that we are smaller, we're distant,
we don't have some of the advantages that say Australia
has with the mining. We don't have a huge market
on our doorstep. We have weather events. So I can
completely understand that we should hold more capital in our
banking system than maybe some other countries. But the question
is how much more? And we are already right now

(48:14):
without any more capital going in. Oliver woman did some
work for it ARB and Z and we're already the
second highest in the world without the extra capital that's
still going to go in over the next few years.

Speaker 2 (48:25):
But you still maintain that if that number was significantly lower,
your margin would be lower, and therefore they are directly.

Speaker 13 (48:32):
Linked, not lower.

Speaker 5 (48:34):
So the thing to really remember is that this is
capital that we'll go in in the future. So the
offset is less output pressure on price itself. We have
to put less capital in in the future, there's less
output pressure on prices in order to maintain, you know,
the modestly above cost of capital returns that we have
at the moment, which is what we need to deliver
to our shareholders for them to invest twenty billion dollars

(48:55):
in New Zealand.

Speaker 2 (48:56):
Yeah, but two point six is higher than Australia. This
is the great quandary that people keep asking me to
ask you about. And the argument has always been, oh,
but here we have to put so much more money
aside because there RB tells us. Is that no longer
your argument?

Speaker 6 (49:09):
Yep?

Speaker 12 (49:10):
No no.

Speaker 5 (49:10):
So if you think about our overall margin at two
point six aps for our sort of retail and commercial
businesses that compares to our Australian retail and commercial business
has added together a two point threty nine, so a
twenty one basis point difference that is more than accounted for.
If you look at the Oliver Wyman difference in capital
between Australia and New Zealand, that difference is probably a

(49:31):
cost of say thirty basis points, So that's more than
accounted for by the extra capital we have here.

Speaker 2 (49:35):
Okay, do you still what does it feel like running
a successful business which you in disputably are, and have
a finance minister constantly at you.

Speaker 5 (49:46):
Look, she does her job and I do mine, and
we try and run a really strong, safe, trusted bank
for New Zealanders. The government's role is to make sure
that New Zealanders get the best deal they possibly can
out of all the industries in New Zealand.

Speaker 2 (49:58):
Do you think we are all have a genuinely open
and competitive banking market for the average punter to get
a good deal with.

Speaker 5 (50:06):
Yes, I do. I mean yes, one hundred percent. Our
staff are out there every day competing to win business
and competing hard. We are looking at what our competition
are doing constantly.

Speaker 2 (50:16):
SBSA they hoovered up six thousand customers in the last year.
Is that proof that there is competition and therefore people
can move and will move if the deals are good.

Speaker 5 (50:26):
Absolutely. We've seen an average in some months it's been
more an average of twenty five percent of homelan customers
switching within the industry over the last year. So twenty
five percent of people switching every time their homeland's up
for prefixing.

Speaker 2 (50:40):
I think that's huge, right Ed McKnight. Do you know
the Opes Partners thing that he's done on banks and
their interest rates? No, I don't, all right, it doesn't
matter that the upshot is he looked at over a
period of time as to who was first out of
the blocks in terms of offering the best rate. B
and Z seems the best along with wes PAW. You
get there eventually on the longer term money. The point

(51:03):
being is once you shake it all down, you guys
are all the same at the end of the day.
And this backs up Nicola Willis's argument. At the end
of the day, it's all the same. There is no
real competition.

Speaker 5 (51:14):
It's interesting because as someone puts rates down, others will follow.
That's very competitive market. But the suggestion there is once
everyone matches us, we should continue putting them down. And
then everyone matches and continue putting them down, and then
there comes a point that it's unsustainable and we don't
therefore have the returns that mean that we're comfortable to
keep lending too Kiwi. So the sort of a the
sort of a you know, do we want a vicious
cycle to the bottom or that will mean we have

(51:34):
less strong and stable than sustainable banks.

Speaker 4 (51:37):
Yeah?

Speaker 20 (51:38):
But so am I?

Speaker 2 (51:39):
Am I a simpleton? So just back to that business.
All I've seen through the GFC and through COVID is
you guys, generally the big four here are fantastically successful
and profitable, and well done to you for that. Why
do you need to put any money aside? You know
what you're doing.

Speaker 15 (51:54):
You know that we have had.

Speaker 5 (51:55):
The GFC wasn't an existential crisis in New Zealand. It
certainly was at other parts of the world. I mean,
that's why I'd say that we you know, we are
well capitalized. We've done a lot since the GFC, but
don't forget that in COVID we our profit dropped thirty percent.
In the GFC, we had one year we made one
hundred and ninety million dollars and that's a lot less
than right now. So you know, when those real crises,
you see bank profits drop a lot, and so we

(52:18):
need to be ready and have a good capital base
to protect us from those real crises.

Speaker 2 (52:22):
How many people you got working in your bank at
the moment who come to you in your office periodically
and go, this AI tech thing's going to blow and
that might have some sort of bottom line effect for us.

Speaker 5 (52:32):
We talk about ALI a lot. It's got a lot
of uses. We also want to be very cautious that
we don't let something loose that hallucinates for our customers.
So you know, it's exciting, but I guess it's exciting,
but with absolute caution around it.

Speaker 2 (52:47):
Explain to me the insolvency numbers we covered yesterday and
I can't remember who did it, but insolvencies are up
forty percent. The money you've put aside for bad debt
is down. How can the two be.

Speaker 5 (52:58):
True because we will have provided so any of our
customers that are in that in that group of customers
that are looking like the approaching insolvency, we would have
probably provided for them in the past, not this year,
because we'll be looking at looking at our results, looking
at what the economy is looking like. We sort of
take a forward view of the economy and we tend

(53:19):
to provide what we call collective provision upfront, which is
just what's the risk in our book of things happening,
So we would have already provided for that.

Speaker 2 (53:26):
How bullish for twenty six are you? For New Zealand inc?

Speaker 5 (53:30):
Oh, I'm cautiously optimistic. There are some green shoots out there.
It's still tough, there's no question about that. It's particularly
tough in places like Auckland and Wellington, say, compared to
the South Island does in christ Church recently, and that
was pretty pretty exciting place at the moment. Actually, I
think you're seeing some of the rural economy impact coming

(53:50):
through flowing through to the cities. But there's some real
there are some actual, real positives. If you think about
the pain of the last few years, it's also sort
of cleared decks for the next up swing. So we've
got real house prices. They've unwheulmded the COVID bubble. We've
got household and firm debt lower than it was pre
COVID as a share of GDP. We've got inflation hopefully

(54:12):
hopefully touchwood under control. We've got imports reducing, exports growing.
So there's a lot of our card data showing that
a lot of the categories are now spending is up
to So that's people just getting a little bit more
confidence to spend now rather than to sort of re
establish their buffers, which is I think what they've been
doing as interest rates been coming down to date. So
I think, you know, cautiously optimistic.

Speaker 2 (54:33):
Good to talk to. You appreciate it as always. Antonio Watson,
who's the boss of the a m ZI thirteen.

Speaker 1 (54:38):
Two, The Mic Asking Breakers full show podcast on iHeartRadio
now ad By News talks.

Speaker 2 (54:44):
At b and by way of comparison, I and ZID Australia.
Their profit dip fourteen percent, but they've had a bunch
of issues that they want boy with in the last
year that they claim there's a new bloke. They're laying
off some people and he claims he's got it all
under control. Morning, Mike. Can the two expelled from the
Maori Party standards independence, Well, of course they can. They
are independence says of now. They are no longer INPs

(55:05):
for the Maory Party. They are independent MPs in the House.
And what I want to know is where's the Waker
jumping law. What's the point of having a Waker jumping
law if you're not going to enact it? For goodness sake.
What I'd forgotten about until I looked it up again
yesterday because I knew this would be an issue, is
two Waker jumping laws. You remember that first one came
and went in the early part of the century, and
then the second one, which was part of the New
Zealand first Labor government. The original one had a sunset clause,

(55:28):
so they brought it back in. So the problem is
that the Caucus will need to enact it, not the Council,
because the Council aren't in the Parliament, of course, So
the Council vote to expel them, but the Caucus then
need to use the Waker jumping law because it becomes
a parliamentary thing. And then you've got because you only
got six two of them being the leaders, so they

(55:49):
might want to get rid of them. But what about
the other two because the two concerned of the two expellees,
so that's four. So where are the other two? Said?
What are the other two? And that those two split,
that's three each.

Speaker 14 (55:59):
I'm just trying to find Migraine exactly.

Speaker 2 (56:01):
Which means you're never going to say that's that's a
job for Jerry. Maybe this afternoon watch Parliament nine minutes
away from eight The Mike.

Speaker 1 (56:08):
Hosking Breakfast with a Vita Retirement Communities News, togs Head Bess.

Speaker 2 (56:12):
Living away from a big day in the old hometown,
New Zealand. Trotting Cup Day of course first run in
nineteen oh four to thirty two hundred meter classic. Brian
Thompson's the Eddington Raceway Chief Executive and is with us
Brian morning, did Mike you go mate? Very well? Has
it stopped raining?

Speaker 12 (56:27):
Yeah? The rain stopped, the winds died down and I
can see the sun starting to poke through.

Speaker 2 (56:31):
Because that's what happens on Trotting Cup Day, isn't it.
It never rains.

Speaker 12 (56:36):
Nah, once those gates open, it never owns on Cup Day.

Speaker 2 (56:39):
You'd know that he is exactly right. So big crowd today,
what are we expecting?

Speaker 12 (56:43):
I reckon we're looking around about that fourteen fifteen thousand
number numbers are up on last year, and we're really
excited about and happy with them.

Speaker 2 (56:51):
To be honest, nice people, I was going to ask
you about the horses. What about the talent of the race?
Is it good? I mean, is the industry in good heart?

Speaker 12 (57:01):
Yeah, we're positive and this race is going to be fantastic,
especially the Iit Trotting Cup. They're racing for a million
dollars at five point fifty three. A couple of OSSI's
that coming over to try and steal the cup away
from the Kiwis and probably leap the fame which is
the IVY is probably favorite, but Republican Party are good
Kiwi horses pretty close, so it's going to be exciting race.

Speaker 2 (57:23):
The reason I ask about the horses the people there
for the horses, that they're there for the entertainment.

Speaker 12 (57:28):
Oh better both To be honest, we give people a
reason to dress up, celebrate and have some fun with
friends and family. There are the infield, which we've got
shape Shifter and Savage starting after the last race, and
plenty of DJs going throughout the day and we've got
a silent rave k for those people who have put
some headphones on to doesn't effect the horse racing. But

(57:51):
there's also hospitality. We've got a couple of new areas
open this year with the ned Lawn and Gray Goose Terrace.
The hospital numbers are looking really good and you know,
as we said, we're just trying to give people from
around Tent Tavern and probably further a field to a
reason to dressed up and celebrate.

Speaker 2 (58:08):
Well, you have the best of those. Brian appreciates time.
Brian Thompson, who's the Addington Raceway chief executive, who doesn't
love a silent rave cave. I love watching the silent
rave Cave on the news at night because you just
have a lot of pissed people with headphones on looking
ridiculous and that's the best entertainment. Mike and Toonia speaks
well and shows up the minister's lack of understanding of
banking as well as butter and supermarkets. Yeah, for a

(58:31):
person who's running a campaign to change the way butts
sold and supermarkets operate and banks operate, I don't know
that Nicol was actually winning that one news for you
in a couple of moments here on the Mike Hosking.

Speaker 1 (58:43):
Breakfast, asking the questions others won't the Mic Hosking Breakfast
with the Defender Embrace the impossible news?

Speaker 3 (58:53):
Togs dead be here?

Speaker 2 (58:54):
Seven past eight, we've got a Kiwi are starring the
latest version of the Predator franchise. Now I know the
Predator franchise. First movie goes all the way back to
eighty seven start somebody called Arnold Schwarzenegger. Since then there
have been four others, as well as two Alien v.
Predator films. Anyway, Demetrius Cola Matangi is Predator Deck in

(59:15):
Predator bad Lands, and Demetrius is with us. Good morning,
good morning, Now I'm very well. Indeed, let's have a
talk first of all about the movie itself, when it
was made, where it was made, how it was made,
and how you got the part. Talk us through it.

Speaker 13 (59:29):
So pretty much filmed in New Zealand, which was really exciting,
I guess just being from here, got to share case
a lot of New Zealand locations and just show off
the beautiful country. But yeah, getting the part was quite
a funny process, just auditioning as pro and yeah, my
character is obviously an alien, SOHO doesn't really speak English,

(59:52):
so I had to do a taken just like a
made up language, which was funny. I did you know
that was going to be asked you No, So we
didn't even know what the production was during the auditioning stage.
They just said that this will be a creature from
another planet, so you just take it and put your
own little spin on it. And it was funny because

(01:00:13):
I just like kind of integrated like salmon and tonguing
like into my language when I did it, and obviously
worked got me the job, which was quite fun. And
then had to do like a little obstacle course show
how I move. And then yeah, we were.

Speaker 2 (01:00:28):
Because because the interesting thing in the movie. A couple
of observations in the movie. First of all, you look enormous, yes,
in the movie. In fact, you're supposed to be in
excess of seven foot.

Speaker 13 (01:00:38):
Yeah all uh, something like that. So my character is
actually the runt of like the little so he's an
undersized predator, so he's not as large as the other ones,
which is why he's kind of outcast from the culture
and from his clan. Right, So yeah, it's pretty funny.
Everyone will see me and they're like, wait, you're playing

(01:00:58):
the Predator, bro, You're not even You're not even that big.

Speaker 2 (01:01:01):
Did you know about the Predators franchise, the series of
movies before you auditioned?

Speaker 13 (01:01:05):
Or yeah, so my dad's a massive fan of the
first one. We used to watch that one a lot
growing up, And yeah, I know about the universe and
like the I think the characters so iconic, Like you
don't even need to watch the movie.

Speaker 2 (01:01:18):
I mean, so if you know about something, especially with
your dad and it goes back to the eighties of course,
the original movie, So if you go back to that
and you're now part of that, yeah, it's crazy. I mean,
that's amazing.

Speaker 13 (01:01:28):
It's pretty surreal, to be honest, it kind of hasn't
really sunk in. Still they I'm a part of something
so big like the Yeah, the franchise has such a
massive fan beast, like you said, like spans like twenty years.
Yeah you know, and yeah, it's kind of crazy to
think that I'm now part of it.

Speaker 2 (01:01:44):
So you got the part the language itself in the
movie was that scripted is the wrong word, I suppose,
But did you add lib the whole thing? Or was
there some expectation that there was a sort of a
structure to it.

Speaker 12 (01:01:57):
Yeah.

Speaker 13 (01:01:57):
So when I jumped on, I had thought I could
just freestyle and do my own thing, which I was like, Oh,
this is going to be fantastic, no lines. But then
they were like, oh, we're gonna sit you up with
the zoom call with this guy named Britain who constructed
the whole language. So they pretty much made a language
like it's a it's a literal language now and I
had to learn those lines. And I was like, I

(01:02:19):
have to learn a whole made up language, like I
struggle speaking someone's song and you know, I have to
learn this. It was fun, it was cool, Like.

Speaker 2 (01:02:26):
How long did it take you? And can you still
do it?

Speaker 5 (01:02:28):
Yeah?

Speaker 13 (01:02:29):
I can still do it's it was so we had
like a month of proper pre production prep. So they
gave me pretty much it just like a month and
a little bit to just get the language down, get
the sounds right. There's a lot of different like clicking
noises and yeah, there's no like lips, like because you
don't have lips to a lot of the letters, like
you can't do like p's or m's, Like it's all

(01:02:50):
very like, yeah, it was explained.

Speaker 2 (01:02:52):
People who haven't seen it. I mean your character. I mean,
in really simple terms, you look like you got a
sack on your head sort of, don't you.

Speaker 13 (01:02:59):
That's that's pretty much.

Speaker 2 (01:03:00):
So what did they hire you? What did they see
in you to hire you?

Speaker 13 (01:03:05):
I think movement was one, and then because a lot
of it was facial capture, so they pretty much just
took my feace and put the predators on top of
it and used my emotions and my facial expressions right
to Yeah, pretty much, you've done that. No, this is
my first time doing any kind of super performing or.

Speaker 2 (01:03:24):
Was it freaky?

Speaker 14 (01:03:26):
It was hot?

Speaker 13 (01:03:27):
It was it was I was switting a lot. Yeah,
it was really just there was like a lot going on.
But I think it really helped my acting because there
was just a lot that kind of takes you out
of the scene, but you have to force yourself to
just stee in.

Speaker 2 (01:03:39):
It because because it's clear. But also to and from
what I've seen the movies, it's it's how much of
it's I don't know what the phrases c gi'ed or
imposed later on. In other words, are you just standing
in front of the green screen? Trying to make this
look real or was some of it real anyway? In location?

Speaker 13 (01:03:55):
Yeah, most of it was shown on location, so yeah,
I think that's why. Yeah, filming in New zeal was
a bonus because we probably pretty much have the best
locations in the world. And yeah, I was in a
prosthetic suit, so everything around my body was like everything
you see I was wearing except for the feast. So
the feast was just cut up so that they could
capture the expressions.

Speaker 2 (01:04:15):
How much did it take you to get rid of
every day putting that on and off and getting sort And.

Speaker 13 (01:04:19):
I was lucky because it was only like an hour, Like, yeah,
it just comes down of course, no makup, Yeah, no makeup.
But yeah, once it's on, it's on and you can't
really move.

Speaker 2 (01:04:29):
I'm not surprised. List and hold on might come back
in the moment Demetrious Kill lower my tonguey Predator More
in a Moment twelve past eight.

Speaker 1 (01:04:36):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News.

Speaker 2 (01:04:41):
Talks it Be News Talks sixteen past a Demetrius Kloa
Matungy is with a star of the latest Predator movie, which,
by the way, I notice is doing well. The boxes
give you numbers in just a moment. Anyway, listen, how
I want to know how they do this because there's
basically two of you in the movie, your co star
a your co star turns up with half a body missing? Yep, yep?

(01:05:03):
How do they do that? And how do you act
in that?

Speaker 13 (01:05:06):
So l pretty much had to just wear like blue
pants and then her top half was all set for
screen and then her legs are just blue and they're
like held up by like ropes. And it's a lot
of imagination.

Speaker 2 (01:05:23):
But this this is the acting thing, yeah, isn't it.

Speaker 13 (01:05:26):
It was a lot yeah, just happening, especially with the
rigging because since she can't walk, I have to carry
you on my back.

Speaker 2 (01:05:34):
Did you literally have to do that?

Speaker 7 (01:05:35):
Yeah?

Speaker 13 (01:05:36):
So we were like strapped together a lot back to back,
which was quite funny.

Speaker 2 (01:05:40):
Well see, that's the funny thing about the movie. There
was humor in the movie, And I mean it was
a humorous, but it's a sci fi and all that stuff,
and it's got good humor to it. Yeah.

Speaker 13 (01:05:49):
I think just the situation itself was humorous, Like we
weren't trying to play too much comedy. I think the
comedy just came through and like what was happening is
like so ridiculous. It just makes it funny, which is
really cool. Like a lot of the reactions like to
the film, so like, yeah, the comedic beats are quite funny.

Speaker 2 (01:06:08):
Because I just I didn't realize she was strapped you back.
I mean I saw her strapped you back, but I
assume that that wasn't Yeah. Also, so she's physically strapped
to you. Yeah, this seems like a low tech movie
because something I was like a high tech movies. Actually,
you're strapping your actors to your back for God's sake.

Speaker 13 (01:06:26):
Yeah, I know, my shoulders are quite sore after, but
it's good training.

Speaker 4 (01:06:30):
I guess.

Speaker 2 (01:06:30):
Do they have rules and regulations around that? And you
know injury prevention and insurance cover and you know I
would what if you dropped it?

Speaker 13 (01:06:39):
Oh man, probably have to get recast or something. But
you know I was quite safe and the stunt team
and shut like that. Yeah, those things wouldn't really happen
with the risk.

Speaker 2 (01:06:50):
Cause is this your sort of movie? I mean, as
an actor, of course it is. You do what you know,
but you you would watch this sort of movie.

Speaker 13 (01:06:58):
Yeah, to be honest, I think just like the whole
premise of it. You know, it's an underdog story. It's
like the first of its kind in the franchise, you
know where it's the first film that follows the predatize
the protagonist.

Speaker 2 (01:07:12):
Yes.

Speaker 13 (01:07:13):
Yeah, like all of these elements are quite interesting to
me just in general.

Speaker 2 (01:07:16):
So and and Elle, you mentioned el El Fanning and
she's a name, so she did you know of her? Yeah?

Speaker 13 (01:07:22):
Of course, I think everyone knows her well.

Speaker 2 (01:07:24):
Yeah, But I mean, were you kind of like freaked
out by it all?

Speaker 13 (01:07:26):
I think I was as nervous at for us. I
was like, yeah, she has such a massive presence. Like
I was kind of not intimidated, but I was just like,
oh man, if she's going to be a diva, this
is going to be a long shoot.

Speaker 2 (01:07:36):
And she wasn't. She doesn't. I don't know it, but
she doesn't. I've seen a lot of videos and stuff
and she doesn't. She seems like a perfectly normal Personah.

Speaker 13 (01:07:42):
No, She's so kind the like yeah, and like really
good at her job, knew how to like kind of
run the set and you know, makes people feel really good.

Speaker 2 (01:07:51):
Is she helpful as an actor?

Speaker 13 (01:07:53):
Yeah, definitely, she I picked up a lot of game
from her, just like watching her process and how she
interacts with hers and yeah, just the way she is
on set.

Speaker 2 (01:08:01):
It's fantastic. So you you seem to me to be
a young man living their dream. Oh, I mean you're
on your way. I mean this is your part of
a franchise. Now I assume there's a potential for more.

Speaker 13 (01:08:13):
Man, hopefully, God willing, we'll see it's yeah, it's it's
been really good so far. We'll just trace the addit.

Speaker 2 (01:08:20):
And good on. Well, good luck with the movie because
it was made a while ago, so you know, these
things take time, and by the time it gets to
the theaters and the streaming and all that sort of stuff,
it's you.

Speaker 13 (01:08:30):
Know, yeah, man, is that saying good things take time?
Hopefully this is a good thing, and.

Speaker 2 (01:08:35):
Well, all the very best with it. Nice to talk
with you.

Speaker 13 (01:08:37):
Thank you so much, YouTube brother, thank for having.

Speaker 2 (01:08:39):
Demetrius Kloa Matangi. I'll give you the numbers out of
the box office so far. Turns out she's a smash
hit as opposed to Sydney Sweeney's movie, which isn't nineteen
Past the Mike.

Speaker 3 (01:08:52):
Hosking Breakfast with the defender and.

Speaker 2 (01:08:54):
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from the thirty seven hundred and twenty five theaters. This

(01:10:00):
is in the States. Pre release had it opening at
twenty five, so they thought twenty five got forty overseas
eighty million, biggest global opening of the franchise to passing
the twenty eighteen Predator at forty eight point nine. That'll
be Demitrius. He's a magnet audience score on Rotten Tomatoes
ninety five percent. Fast forward to Sidney Sweeney, who's got

(01:10:23):
the movie Christy. We played the tray, We did the
trailer for that in one of those trendings, didn't we
We did Christy Year. That's probably what put you off
to be frank one point three million overall of America
one point three million. The story Christy is Christy Martin.
She was a Hall of Fame boxer. Opened in two thousand,

(01:10:45):
one hundred and eleven theaters, so that's revenue per theater
of six hundred and forty nine dollars. Ranked the top
twelve worst ever four movies showing on more than two
thousand screens. Three of those four were released just right
after COVID. People that want to go back to them.
So now that they do, they've thought, Oh, Sydney, is.

Speaker 14 (01:11:05):
She a good actor?

Speaker 2 (01:11:06):
I don't know. She's got good genes though, and in
that I think is probably part of the problem. Very
good piece I can tell you about Christopher Stevens. Look
it up if you want to. It's about Tim Davey.
Who's he. He's the guy who used to run the BBC.
As of yesterday, any one of the scandals that has
rocked the BBC in the past five years could have
been enough to force Director General Tim Davey to resign.
The most awful aspect of the Trump travesty, he writes,

(01:11:29):
was how predictable it seemed. Since Tim Davey took over
as Director General in September of twenty twenty, the BBC
has been tarred by scandals that damaged the reputation of
almost all its department sports, news, music, radio, primetime entertainment.
In the past couple of years. The scandals have come
so quickly that each one displaced the last. In order
to weather the storm, the DG had only to hang

(01:11:49):
on until the next one blew up. He was repeatedly
rescued by his own inability to get a grip. His
entire career can be seen as an example of what
management types call failing upwards, a form of promotion built
on blithe confidence in his own inadequacies. Brilliantly put, so
he's gone. He used to work for Pepsi. It's worth
reading the article because when he was with Pepsi, he

(01:12:11):
was in the promotion. What I couldn't work out is
he worked from Pepsi and then he went somewhere weird
and then the next thing he's the DG of the BBC,
and it couldn't work out. That's a leap. Anyway, he
relaunched or helped relaunch Pepsi into Pepsi Blue, and they
painted a plain blue and it cost hundreds of millions
of dollars and it was broadly seen as a flop.
So if I was on the board of the BBC,

(01:12:33):
going is that the guy painted the plain blue, Well,
we're not going to have him, or maybe they could
find nobody else. Somebody else I was listening to yesterday
was saying, basically, the DG's job at the BBC now
is literally an impossible job because you've got all the
henchmen in the newsroom who pretend they're not biased, and
you've got all the politics of a government that don't
necessarily like you, and you've got all the hatred of

(01:12:54):
the British public, who of course funds you. And it's
a just a hopeless position. You can't possibly be in
a winning position. Speaking of media, by the way, ITV
are in talks to sell their television business to Sky TV,
not Sky here, but Sky Britain. So we'll talk about
that more with Roden. Just a couple of moments after
the News, which is heads.

Speaker 1 (01:13:14):
To reviews, Talk ZB Opinion, Edit, Informed, Undapologetic, the Mic asking,
Breakfast with Bailey's real Estate, doing real estate differently since
nineteen seventy three, News Talks Dead b.

Speaker 2 (01:13:27):
Mike Antonia Watson interviews Well, no ducking and diving, and
she just answers the questions and speaks, Well, it was
this time last hour, we're talking to the head of
the A and Z. Mike. Open banking makes it easier
to move, but you'll need to get them, drag them
kicking and screaming before we get there. Well, that was
all part of the banking review, of course, and we're
going to have some open banking in this country. But
the as I read, and I've read several reports on
open banking which is available in Australia, it's not the

(01:13:49):
game chap. If you think it's a game changer, it's
not the game changer. Is it easier technically, yes, But
then I think we've elevated in our mind the ability
to move banks. Banks are so possible when it's not,
you can if you want to, I mean, isbs as
I keep repeating these numbers of hoove it up, apparently
six thousand new customers as here. Where do you think
they came from? They came from another bank, So it

(01:14:10):
is doable. So if you think open banking is a
magic bullet, you're probably going to be disappointed.

Speaker 19 (01:14:16):
Twenty three to nine International correspondence with ins and Eye
Insurance Peace of Mind for New Zealand Business in Britain
on a little morning to.

Speaker 20 (01:14:24):
You mate, good morning.

Speaker 2 (01:14:26):
I don't know. I can only imagine. I mean, it's
a big story here, for goodness sake, I can only
imagine how big it is in your part of the world.
As far as clusters go, and previous clusters involving the BBC,
where does this one sit?

Speaker 20 (01:14:39):
I think rather high because it's about editorial standards and
that's what the BBC has always banked its reputational You know,
I mentioned this story to you last week when it
was making no headway whatsoever, which is no headway at all,
and yet suddenly it has, partly I think as a

(01:15:01):
consequence of Donald Trump's intervention, who picked up on some
of the stuff that we were all writing over here.
Needless to say, the BBC is in a state of
complete and utter denial about it. If you listen to
their morning bullet in, the Today Program or the five
o'clock show PM, they're all saying a right wing coup
has occurred within the BBC and we're all being penalized

(01:15:22):
for it, and there's nothing wrong without journalism. It's a
remarkable show of something defiance. I don't know. I think
it's a show of ignorance that they just don't know
the trouble they're in.

Speaker 2 (01:15:36):
It's funny you should say that because the woman who
fell on his sawed yesterday along with the DG. She
was out there this morning and I believe that she
believes when she goes and we're not biased, I believe
that she believes that. But she doesn't obviously understand just
how out to lunch she clearly is, and the rest
of the world doesn't see her the same way she
sees herself.

Speaker 20 (01:15:57):
No, that's right. I think that's right. Because she comes
from for you know, BBC background, they're all in the
same bubble together. She probably thinks that being in favor
of her mass is kind of civilized, and that taking
the wilder views on trans issues, there was also a

(01:16:18):
question of civility. Samir Shah said the same thing. He's
the chairman of the BBC. He said he didn't think
that the BBC was institutionally biased. I don't believe he
thinks that. No, I think he knows that it is because.

Speaker 2 (01:16:34):
You know, you know him. I mean, but why would
he do that if what you say's creed? Why would
he go and say that?

Speaker 20 (01:16:43):
I think because what he feels he needs to do
now is hold the BBC together in the wake of
two of its most damaging resignations. The DJ in head
of News, incidentally, the guy, the guy who said that
the editing of the Panorama documentary was normal practice, remains
head of News Content. God knows how, but there we are.

(01:17:05):
So I think he is trying to pull the BBC together,
but there's an existential threat. You know, if Donald Trump
really does sue for a billion of quid, well that's
kind of the end of the BBC, isn't it.

Speaker 2 (01:17:20):
Yeah, exactly, Well that it comes back to the business. Ironically,
we must not forget there was the Parliament to inquiry
which is due to go this week on Gaza and
train so they head form and then you can't forget
the fact it is publicly hunted. You know, text payers
you know, pay for all of this, which leads to
the question if it's biased and they've been caught and
it's a problem, what do they do about it?

Speaker 20 (01:17:43):
Well, you see, this is a huge problem because I
don't know that there's very much they can do. I
spoke to Tim Davey when he became director general and
he was well aware that there was a bias and
he said as much, you know, he said, yes, there's
a bias. He said, can we can put we can
that right? And they thought they were winning the battle.

(01:18:04):
You listened to this today, Freden and PM. It's still
exactly the same stuff. And this this wasn't an attack
from the right wing press. This dossier which which we're
all reading at the moment. It wasn't, you know, the
Murdoch Empire or the far right. It was their own

(01:18:25):
editorial advisor who said, I'm afraid you're I'm shocked. They
called it shocking, bias and discrimination in one direction. Remarkable.

Speaker 2 (01:18:39):
Somebody said yesterday, I can't I can't remember who it was,
but the suggestion was that the DG's job is now undoable.
You can't be a DG at the BBC. It's such
a cluster. No one can fix it. Is that fail.

Speaker 20 (01:18:53):
It's certainly a job you wouldn't want, you know, whereas
it used to be the greatest job in broader And
of course it is true. And this is partly a
consequence of our changing market, which is that there are
people out there who will attack the BBC for ideological

(01:19:13):
and commercial reasons and will keep on doing so and
keep on dooing so and forcing the BBC.

Speaker 18 (01:19:20):
To react.

Speaker 20 (01:19:22):
By the same token, the BBC with social media and
all this kind of stuff, the BBC is far more
open now and we can see where it's where it's
causing problems for itself. So it is a very very
difficult job. And I you know, I feel some sympathy
with Tim Davey.

Speaker 2 (01:19:40):
Yeah, having said that, I was going to the boss here,
and I thought he made a reason. See when Lenka
was there, I couldn't kill this what he thinks. He
can be anything he wants as long as he's good
at the football, that's all we're playing him for. And
yet he got himself an endless amount of political trouble.
What about all the DJs on the music stations who
are out there. You know, there's a lot that the
BBC does that's actually very popular, very successful, and very
good that doesn't have any journalistic attachment to it at all,

(01:20:05):
And it must be hard working for an organization that's
dreadfully tainted. You're actually nothing to.

Speaker 12 (01:20:10):
Do with it.

Speaker 20 (01:20:12):
Well, no, indeed, And I remember when Greg'sduk came in
as director General when I was working at the BBC,
and he said, God, if I could only get rid
of news, it would be fine. And indeed, last week
everyone was in euphoria celebrating the final episode of Celebrity Traitors,
which has been described as a television event of the year.

(01:20:34):
That's something the BBC got very right. But over the years,
even the good stuff has become tainted. You know, the
dramas and now invariably are about some kind of intersectional
politics issue. You know, the comedians tend to be all
from the left. It infests everywhere because it's such an

(01:20:58):
authoritarian dot other far left. So we're talking about the
far left. You know, it's not the center left, it's
the far left. And the BBC's sort why have we
got an lgbtqu unit is the BBC? There isn't one
at ITV, you know, why have one?

Speaker 2 (01:21:17):
It's very good question speaking of it TV. By the way,
just quickly, can they sell the television business to Sky
without some sort of regulator going we'll hold on here
you are or now dominate a tremendous amount of the market.

Speaker 20 (01:21:31):
I don't know, it's the short answer to their my suspicion.
And my suspicion is they probably can these days, but
I don't know enough about it. I shall can up
from when we next, from.

Speaker 2 (01:21:43):
When we next, prepare yourself, prepare, prepare yourself for Thursday. Rod,
there will be at least sixteen questions on that subject
coming your way. I appreciate your times always, Rod Little Yeah,
so ITV. So the television business gets sold to Sky
also in Britain, doesn't include the production stuff. The production
stuff as I'm a celebrity, Love Island all that other bollocks,
but they will have They about seventy percent of the

(01:22:07):
UK television advertising market if it goes ahead. So I
would have thought somebody, someone has got to have a
look at that.

Speaker 1 (01:22:12):
It's eight forty five The like Asking Breakfast Full Show
podcast on iHeartRadio powered by news Talks.

Speaker 2 (01:22:20):
At b Post this morning has got a hilarious piece
on Tory far Now. So the portrait, we told you
about it at the time. So they suggested the council
that for meryal portraits you need the photograph, not a painting.
Paintings are more expensive than a photograph. So she ignores that,
of course, because she's so much better than you and

(01:22:40):
I are. So she went and got the painting done.
But then having got the painting done, she then goes
and holds a special at ratepayers expense, of course, a
special revealing party for family and friends, just just some
close family and friends, and at Roweth's Gallery two hundred
gourmet Canna pays from Nosh Catering. I don't know whether
Anosha any good Bye, size, crispy potato and corn, beef gilletts,

(01:23:04):
chicken Teeka skewers basic a chicken Tiker skewre vegan and
gluten free of course, some tire salad, rice, paper wraps.
They're a little bit tricky, you know, that walk and
fork thing. It's a little bit tricky, isn't it? Anyway?
We pay for all of that washed down with I
thought to be frank for thirty people a fairly meager

(01:23:26):
offering of beer and wine two hundred seventy six dollars
and twenty cents. I mean there's not a lot of
beer and wine, and that I don't mean to be
very cheap beer and wine, I'm assuming, but two hundred
seventy six.

Speaker 14 (01:23:34):
I've gone through that that just by myself some nights.

Speaker 2 (01:23:37):
Well that's well, if you think about it in terms
of people at it's less than one hundred dollars for thirty.
It's very I mean, it's a can of beer, isn't it. Anyway?
We paid for it, so God bless her. Do you
remember that when she runs for the Greens, which she will,
Do you remember that? Or do you go, oh, toy shit.

Speaker 14 (01:23:58):
I don't know how many of the Green voters are
listening to you listening that off?

Speaker 2 (01:24:02):
Unfortunately, are you saying we don't have a big Green audience?
Clean you'd need to offer proce.

Speaker 14 (01:24:07):
I just saying I don't know how many I'd have
to dig down into the.

Speaker 2 (01:24:10):
I reckon we're at I think we're hot with the Greens.
By the way they issued I didn't realize they did that.
You know, the people who do the MP salaries, the
Remuneration Authority, which is an independent authority, the Remuneration Authority
for reasons, I equally don't know this either, but they
announced yesterday the review of incomes for the Wanganui, Ruher

(01:24:34):
pay WHO and rang Atiki councils. So they don't do
it all at once. I would have thought it was
an are than one exercise. But anyway, massive pay increases,
huge pay increases for councils Wanganui. Your council is getting
a twenty five and a half percent pay rise. Horizons
are not as bad, but you're getting a very large
pay rise as well, and a six and a half

(01:24:54):
percent pay rise in Rangatiki. In Rangatiki, if you're a
councilor of thirty thousand dollars a year, which isn't a lot.
The Horizons area, which is one of a two fifty
grand if you're in Wanganui. It's serious. Coin Meya gets
one hundred and sixty six, but in the councilor gets
fifty grand. It doesn't matter whether you're any good or
not because we don't count it that way. It's just
a human, you know. But twenty five percent a lot

(01:25:16):
of money, isn't it. And what happened to a cost
of living crisis, clearly that doesn't count anymore. Eight minutes
away from none, it's so my.

Speaker 3 (01:25:22):
Costing breakfast with Bailey's real Estate news dogs.

Speaker 2 (01:25:25):
There'd be no When you think about hearing loss, it's
just about sound. It's so much more than that. It's
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why Resonate Health they've gone and build this brilliant EAR
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(01:25:45):
It's not a sales pitch, it's a proper hearing health
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(01:26:06):
Ere three sixty assessment. You get it off. Brilliant anyway,
Book today eight hundred Resonate which is eight hundred seven
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Speaker 1 (01:26:19):
In z trending now with chemist Wells keeping Kiwi's healthy
all year round.

Speaker 2 (01:26:25):
Night Manager too. I watched it yesterday, the trailer. I
got excited for season two because I saw by accident
Night Manager one a few months ago. Anyway, it's been
an age coming nine years to even get this.

Speaker 3 (01:26:38):
Shall we begin?

Speaker 5 (01:26:42):
Is there anything keeping you awake an I and romantically
any developments on that front.

Speaker 3 (01:26:50):
Welcome to Columnia.

Speaker 5 (01:26:57):
A lot of intelligence officers come through this room, the
ones I really worry about saying nothing.

Speaker 3 (01:27:06):
And then one day explode. Tell me where you really are.

Speaker 13 (01:27:16):
I'm the man.

Speaker 3 (01:27:19):
Who will not explode.

Speaker 2 (01:27:24):
When I say a couple of months ago. I came
to it late, obviously, and I discovered it by excident.
I think it could have been over I can't remember when,
you know. I thought that looks all right. Then we
got engrossed, and then I discovered the trailer yesterday. But
of course, the disappointing thing about the trailer yesterday is
the thing's not out until the eleventh of January, for
goodness sake, so it's still months ago. It's going to
be on Prime Video, which is I think it's one

(01:27:46):
of those streaming services that keeps Do all your streaming
services keep booting you off like minded? Or is that
just a little technical problem for me?

Speaker 14 (01:27:53):
I think you need to get you your technical person
under there.

Speaker 2 (01:27:58):
Actually, Paul's coming around soon for the big Talian stare
end of November. It's happening. It's very exciting, way more
exciting for me than you listening to this. I'm sure
you're bore witnessed by this story. Anyway, back tomorrow Morning,
Happy Days

Speaker 1 (01:28:11):
For more from the Mic Asking Breakfast, listen live to
news talks it'd be from six am weekdays, or follow
the podcast on iHeartRadio.

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