Full Show Podcast: 21 February 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Your source of breaking news, challenging opinion and honored facts.
The Mike Hosking Breakfast with Bailey's real Estate finding the
buyers others cans use trogs.

Speaker 2 (00:10):
Head be boy, You're welcome today.

Speaker 3 (00:11):
The Kumar's case and how many overstayers we have here
and how many kids have been born? Greg four and
the boss of a New Zealand on Engines, head Winds,
reputations and profits. Tim and Katie did a week Richard
Arld Murray olds they poney.

Speaker 2 (00:22):
Up as well.

Speaker 4 (00:23):
Pasky, here we.

Speaker 3 (00:24):
Go for Friday seven past six. In a week, two
hundred and thirty New Zealanders were given confirmation Kinleith Mill
was over. The Australians, facing the same scenario at a
place called Whale in South Australia, did something completely different.
The steel mill is owned by a British billionaire. It's
in a world of financial trouble. It may well go
to the wall that employs one thousand people in a
town of twenty two thousand. So the state government back

(00:44):
now by the federal government, has bought it. Even for
a labor government in Australia, it's an extraordinary move. But
the assessment is in a small town. You can't afford
to lose that many jobs. They'll look for a buyer,
they'll look for a finance, they will look to rejig
the place solved the problem. But in the meantime, the
places open, the jobs are safe. First question you ask,
of course, is would this decision be made if it
was not about a month or so out from an election?

(01:06):
An election the government who just bought the steel works
as in serious danger of losing the precedent, of course,
is also shocking. If you save one, surely you save
them all. And if you don't, because you can't, the
locals will quite rightly ask why not. Also, the government
owning things and the long term has never really been
a recipe for efficiency or success. As much heat. For example,
as labor got in the eighties for selling the railways

(01:27):
here helling Clark, buying them back has hardly been one
of life's great business decisions. In a small town, though,
at the pub or the dairy or the sports field
on Saturday, who cares, they've got jobs, the bills get paid,
the kids day and the local school they'll take it.
Where the money came from doesn't really matter, does it
as much? As Shane Jones espouse as the value of
the regions. The regions here still lost the mill and

(01:47):
the problem that's sunk in or sunk it are the
price of power that still hasn't been addressed either as
an issue. We go into yet another winter with a
mess of a system in Australia. The place is opened,
the jobs are saved. No one's leaving town. So which
approach is better?

Speaker 4 (02:03):
News of the world in ninety seconds and.

Speaker 3 (02:06):
Could the Europeans finally beginning there act together on the defense?
Are UK Defense secretary this morning bullush on spending.

Speaker 5 (02:12):
We've been two nations, two European nations, providing strong military
help to Ukraine. We will continue to do that and
we will step that up and part of our discussions
have been today about how we do so.

Speaker 3 (02:24):
And the UK Chancellor bullish on spending.

Speaker 6 (02:26):
I am absolutely committed to spending two point five percent
of GDP on defense.

Speaker 3 (02:32):
I'm really clear that a strong.

Speaker 7 (02:34):
Economy depends on strong defenses.

Speaker 3 (02:38):
The NATO Secretary General, channeling the thoughts of mister Higgsyth
is bullish on spending as US Secretary of Defense, beat
Hexset said last.

Speaker 4 (02:46):
Week in Brussels, No Minsk three.

Speaker 8 (02:51):
It has to be an ensuring and lasting best deal.

Speaker 3 (02:55):
But the Norwegians reminding the Americans, we're all in this together.

Speaker 9 (02:59):
There are some nuclear capacity as a call up peninsula
is threatening us.

Speaker 4 (03:06):
We are in the same boats.

Speaker 10 (03:09):
We have common interests.

Speaker 3 (03:10):
Then in Britain, another of those reports into a disaster
that shows things could have been done a hell of
a lot. Bit that this was the army, It was
a sex ueal assault, it was poorly handled and it
led to the poor woman hanging herself.

Speaker 11 (03:21):
The evidence heard in this inquest reminds us how important
it is to make lasting and defective change. It is
my hope that such change will give service personnel the
confidence they need to report sexual offenses and inappropriate behaviors.

Speaker 3 (03:36):
A bit of shock and horror, indeed from maybe shock
and awe from bond Land. Barbara Broccoli is out. MGM
are taking creative control.

Speaker 7 (03:46):
I've had the honor of working closely with four of
the tremendously talented actors who have played Double O seven
and thousands of wonderful artists within the industry. With the
conclusion of No Time to Die and Michael retiring from
the films, I think this is my time to face
on my other project.

Speaker 3 (04:01):
Finally, Birkenstocks. They've been in courts looking to protect their design.
Their approach was to have the footwear classified as art
bit cool. If it was art, it would be more
easily protected under copyright. Sadly, the federal judge this is
in Germany, so clearly no sense of humor whatsoever said.
For copyright protection to apply, there must be such a
degree of design that the product displays some individuality, and

(04:25):
if you've seen a Burke you can't really argue with that.
So given legally, that's the end of the line. Burke's
officially remain the world's routess footwear, and that is news
of the world and bad taste. In ninety second I
got several polls, two really interesting ones. This is moderately interesting.
Ninety percent of Japanese companies think Trump's policies are negative
for business. I think most of us would agree with that,
wouldn't we. Twelve past six.

Speaker 1 (04:47):
The Mic Asking Breakfast Full Show podcast on iHeartRadio Power
by News Talk.

Speaker 3 (04:52):
Seppy weird story. So Overnight Delta as in the airline
are offering thirty thousand bucks to each person who was
on that plane that sort of landed in Toronto and
flipped upside down. So the question is thirty thousand dollars enough?
Why thirty thousand dollars? Does thirty thousand dollars admit to
some sort of fault when we don't know what happened

(05:14):
or why it happened, And does thirty thousand dollars solve
the problem. So if you were upside down and you thought, bluger,
this didn't go very well, does thirty thousand dollars fix.

Speaker 9 (05:25):
That for well, I would definitely go outside down for
thirty grand Well, that's.

Speaker 3 (05:28):
The next question. If it's thirty thousand dollars, do you
want to jump on a plane that lands, skids and
flips upside down? So you get the meal, some cassava
crisps and thirty thousand dollars. It's fifteen past six. Light
over from Joy my wealth Andrew Callah, good morning, very
good morning, mate. Speaking of aviation the airport, We're happy

(05:51):
with these numbers look very okay.

Speaker 12 (05:54):
Unfortunately, it's always a question of expectations, So yeah, or
can theirport part of the infrastructure relating to topics obviously
like immigrant and tourism. Look, the headline might looked reasonably positive.
I mean, their half your revenue increased by thirteen percent.
Earnings also jumped. Net underlying profit rose by a smaller margin,

(06:14):
but it rose nonetheless. And this all reflects what you
could call solid travel demand. The Unfortunately, the growth was
a little more subdued than expected, and Autland Airport is
attributing that to market conditions. But there's still plenty of
kiwis traveling overseas. They had five and a half percent
lift compared to the same period last year. They've got

(06:35):
a problem with domestic travel, domestic travelers below expectations, and
they've got bright spots and these are encouraging. December last
year Mike was the busiest month they've seen since twenty nineteen,
and January the fifth this year was the busiest day
in more than five years. I think what was interesting
about the around the results announcement yesterday was this attention

(06:55):
or reference that they made towards Air New Zealand and
the issue here being availability of aircraft and also the
associated issue of their dominance of domestic travel. So look,
the airport noted that there are now one point five
million fewer seats per year in the domestic market than
there was in twenty nineteen. So that's equivalent to twenty

(07:18):
nine thousand fewer seats per week. The capacity the international
market that's staying pretty flat, but that's also still only
at eighty nine percent of the twenty nine ten level.
So they said, Mike that questions needed to be asked
about the competitiveness of domestic aviation sector, and they are
concerned that the eighty four percent market share that any

(07:39):
zone holds over his zion domestic domestic aviation market is
not meeting the needs of consumers or regional communities. And
you know, as someone who travels regularly, it's also eyewater
and expensive sometimes.

Speaker 3 (07:53):
Exactly, but what are you going to do? Have Andrew
Callaheer Airlines who's coming in? Nothing stopping people coming in?
And we've been there, done that, haven't we.

Speaker 12 (07:59):
Yeah, well, it's just not happening. So look, the problem here,
Mike is that the result was a little bit below
analyst expectations. So share price movement, yes, they're down three
and a half percent that and actually the airport's gone
quite well since November, but now in the last little
while it's given up most of those games.

Speaker 3 (08:16):
Rhino SkyCity that was a good eye that was it.

Speaker 12 (08:18):
No no, So revenues there fell four point seven percent,
so there was quite a big fall in underlying first
half year. Underlying that profit forty one percent, so earning
is also lower. They've also downgraded their full year guidance.
This is an underlying earning. So previously they're we're talking
about turner and forty five to turn a sixty five million.

(08:39):
They've pulled that back now to two twenty five to
two forty five, so that's a decent shift. Again, auk
On gaming market is challenged by the economic landscape things
across the group.

Speaker 2 (08:50):
Here.

Speaker 12 (08:50):
They're getting more people through so what they call visitation
foot traffic, that's up about six percent. The first half
of the problem is when people get there, they're spending less,
so they had quite a big fall in that earn
it what they call earnings per visit.

Speaker 3 (09:03):
The opening of.

Speaker 12 (09:04):
The International Convention Center, it's been described as a transformational
event when it finally does open, I think we're talking
February twenty six, there's still a year away.

Speaker 3 (09:14):
I mean, I don't know when they're talking about Andrew,
how long.

Speaker 12 (09:17):
This saga going to go on? So the CEO saying
is just having to be patient. That's a euphemism for
something I don't know what it is. They're looking at
selling non core assets to pay down debt that could
potentially return the group to making dividend payouts. Share price
yesday fell seven and a half percent, and that share
price now, Mike, we haven't seen bar Bara a very

(09:40):
very quick drop in March twenty twenty when Covid came
along that current level as the loast it's been in decades, decades.

Speaker 3 (09:47):
Give me some numbers can do that now.

Speaker 12 (09:51):
Unfortunately, the Dow jones quite weak one point three percent.
Walmart actually the problem there. Walmart's are lowering their guidance
for the following year. So forty four thousand and forty
nine down one point three percent, the S and P
five hundred down point eight of a percent, that's fifty
point six point ninety four, and the Nasdaq down about
two thirty percent. Nineteen thousand, nine hundred and twenty four.

(10:13):
As we look at it, are the FORTSWO one hundred
lost point five seven percent overnight, eight sixty six three,
the NICKO down one and a quarter percent three eight
six seven eight not much movement in the Shanghai Composit
three three five oh. The OSSI has had a week
day yesday down one point one four percent eight three
two three, and the NSX fifty get lost more than
one percent yesterday as well, down one hundred and fifty

(10:34):
three points. Twelve thousand, eight hundred and eighty Kiwi dollar,
though is a little bit stronger against the US point
five seven five six point nine zero zero one against
the OSSIE point five four to ninety four against the
euro eighty six point one Japanese yen is what one
New Zealand dollars worth gold pushed up again two thousand,
nine hundred and forty three dollars and Brent crud seventy

(10:56):
six dollars and sixty nine cents.

Speaker 3 (10:58):
Is the most excellent week. And we'll see you next week.
Andre kelliher jmiwalth dot co dot m zosk. We think
properties and a bunch of commercial properties, including commercial by
they pushed up their operating profit.

Speaker 10 (11:08):
That's all good.

Speaker 3 (11:08):
Part of it is the return to office trend, which
is interesting. Paris Hilton, who lives in Los Angeles, thought
she could raid her wardrobe and put some stuff online,
and you could buy it and raise some money for
the fires, and she did that. There were one hundred
items personal treasures Valenciagabasachi Mumeu. There was a cloth handbag,
a purple Vlure juicy sweat set. I missed out on that.

(11:32):
I bit heavily, but I missed out on that because
who doesn't love a purple juicy Vlure sweat set. Anyway,
sold out within less than a day. Some went most
selling out in under three hours. Secondhand clothing Who Knew
six twenty one at Newstalk ZB.

Speaker 1 (11:52):
The Vike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talks B.

Speaker 3 (11:59):
Big headline the war is Zelenski's been told to tone
down the criticism and sign the deal. So basically the lesson,
as we lent from the Japanese Prime Minister a week
or so back, is if you suck up to Trump,
things are going to go better for you. Polls, two
of them Reuters IPSOS forty four percent approval rating down
from forty five, so essentially no change. Disapproval rating though
has gone from forty one to fifty one. That's material

(12:21):
a Now the poll from SSRs has run by CNN
this morning, fifty two percent think he's gone too far
using his power forty seven percent approval rating, fifty two
percent disapproval. That's below the start of the startup term
ratings for any recent president outside of his own forty
one percent handling the presidency as expected. I would have
thought that that would have been higher, because essentially he's

(12:43):
doing what he said he would do. More. Describe themselves
now as pessimistic or afraid more. From Richard Shortley six
to twenty five.

Speaker 1 (12:50):
Trending now to help with chemist where House Great Savings
every Day.

Speaker 3 (12:55):
A new movie announced overnight looks at the real life
case of Nathalia Grace. The father was a Ukrainian born
orphan rere form of Dwarfism who was adopted by an
American family, but the parents were charged with neglect for
moving her into an apartment and then they moved to Canada.
They argued she was actually in her twenties, not nine
years old, and that she had tried to harm their family.

Speaker 13 (13:16):
I've always considered myself blessed. I've known I was put
on this earth to build a world where all kids
can feel safe.

Speaker 14 (13:25):
We have a little girl here.

Speaker 13 (13:27):
She is seven, and she has dwarfism and what's her name?

Speaker 4 (13:32):
Natalia?

Speaker 14 (13:33):
Natalia?

Speaker 2 (13:34):
Great?

Speaker 10 (13:34):
Are you gonna be in.

Speaker 4 (13:35):
Lovey and Tany?

Speaker 14 (13:36):
I sure would love that if you'll have us.

Speaker 13 (13:39):
It's a tragedy, really, I mean we're her second adoptive family.
First one gave her back. My God, why no idea?
Why something is off? She has adult teeth. There are
signs of puberty. Michael, I don't think she's a little girl.

Speaker 4 (13:55):
The truth doesn't always matter.

Speaker 13 (13:59):
Folks just love a good American family.

Speaker 3 (14:01):
It's a bit intense for Frana. It's a bit dark.
Asn't Ellen Pompeo. It's called Good American Family. It's out
on Hulu, Disney Plus March nineteen. By the way, he's
thinking of giving Trump twenty percent of Doze savings to Americans.
He's done that before. It's an old trek. He'd have
twenty percent to pay down debt, twenty percent to give
to Americans. That would equate to thousands of dollars per household,

(14:25):
about five thousand dollars because twenty percent. Currently they think
they they're aiming to save a couple of trillion from
the six point seventy five trillion dollar budget. They reckon
they say four hundred billion so far. That's five thousand household.
There is much dispute as to whether they have actually
saved that because they claimed in won saving that that
saved eight billion. When they looked closer it was actually

(14:46):
eight million, So eight millions a bit different from eight billion.
So the numbers, of course are all over the place.
Speaking of numbers, are banks out of our discussion yesterday
with Adrian or some ideas around getting more competition into
the banking sector.

Speaker 1 (15:00):
News and the newsmakers the mic Hosking Breakfast with a Vita,
Retirement Communities, Life your Way, News, togsad Be.

Speaker 3 (15:09):
Mike prediction MGM will completely stuff the Bond franchise. Now
I'm guessing that's why Barbara's left as they give it
the woke treatment. What if it alluded to a mention
earlier on with the Bond and News if you missed
at broccoli is gone and MGM take over creative controllers,
they're looking to put it on telling and that's the disaster, Mike.
The lack of competition in the domestic aviation market is
one thing. However, the real problem is around the service.
I travel a lot domestically but business. My last three

(15:30):
flights have been canceled, two of them being rescheduled the
following day in New Zealand has become very unreliable. I've
got new numbers on that, and unfortunately you're correct in
Greg forign with us in and hour Richard Arnold meantime,
So you know, you know, you know what we're smably
talking about. Let's keep it here for now. Though out

(15:51):
of yesterday's interview with the Reserve Bank governor and came
once again the question about the so called lack of
competition in the banking sector. Now, Andrew body has been
thinking about all of this and indeed submitting to the
government on the matter because they're looking at the competition
at the moment. As you well know, he's an investment
banker and a financial expert. He is with it's Andrew,
very good morning to you.

Speaker 15 (16:07):
Good morning Mike.

Speaker 3 (16:08):
Simple stuff. First, is the a lack of competition? And
does more players or do more players solve the issue?

Speaker 15 (16:15):
Yes? For both questions.

Speaker 3 (16:17):
The barriers to entry are they a problem?

Speaker 15 (16:21):
Yes. The regulators that managed to create a moat around
the large banks in New Zealand, and that's through capital requirements.
The outsourcing requirements of the Reserve Bank, the branch policy
of the Reserve Bank, the prediential for a big part

(16:44):
in the conduct and disclosure regulation. It all increases that
the costs of operating here, and that favors the big banks.

Speaker 3 (16:53):
So Adrian Orr is a conservative operator, and he would
argue it's for safety. It's so that shonky players don't
come in and they fall why over and everyone starts screaming.
Does he have an argument there or not?

Speaker 15 (17:02):
Really, no, he doesn't have an argument. He's completely overcooked.
The regulation that Basil three is the response of the
Bank of International Settlements a Basil Committee to the GFC.
And in New Zealand, we've taken Basil three and we

(17:25):
put it on steroids. And the rest of the world, sorry,
the rest of the world, protectively the United States with Trump,
people are questioning where the Basil three is necessary, let
alone what steroid ridden predancial regulation has done in New Zealand.

Speaker 3 (17:43):
When you put this forward to the government, do they
get it, do they understand it, and do they accept it?

Speaker 15 (17:51):
I mean, the government's a big beast. Mike. You know,
you've got the administrative state there in the form of
the regulators, you've got the advisors to the ministers, You've
got ministers. I think that the politicians actually get it.
I think that there is a natural response to the
regulators to say, you know, not a problem, let's move

(18:12):
on quickly, and the government's advisors sort of are missing
an action Realica.

Speaker 3 (18:21):
How much of this is Adrian or versus any governor?

Speaker 15 (18:26):
Well, who knows. That's a good question, But who knows.
I guess I'm focused on what needs to change, and
I think I think that you know, the Minister of
Finance probably understands completely and she's focused on on change.
I expect it's just a question of how much and.

Speaker 3 (18:47):
When if she does what you would like her to
do and what she seemingly argues she wants to do,
and they pull the pull the pull the trigger tomorrow.
Do banks flood to this country or are we not
attractive enough, all big enough?

Speaker 15 (19:03):
The margins suggest that there are excess profits being made here.
You know, I'm a big support of the bank, so
I think the banks have done a great job. I
think the people running the banks are very confident people,
but they're playing with the deck of cards that was
issued to them, and they're making. They've worked out how
to do that really well, and they're making excess profits.

(19:23):
I think they've really lost that argument, certainly in the
public domain, and I think also in the technical domain,
and they need to move on from that position.

Speaker 3 (19:33):
Yeah, confident or not, hopeful or not.

Speaker 15 (19:36):
I'm always hopeful, make confident. I guess we just need
to watch what the politicians are doing really carefully and
encourage them to be brave.

Speaker 3 (19:47):
Good only well said and nice talk you appreciate very much.
And everybody. So here's another one who is and there's
a lot of them, believe me. And this is about
banking specifically, but this is a more general argument that
are getting in the of the government at the moment
and going basically dog it, get in there and blow
some stuff up. Eighteen to two task get Weekly, of

(20:08):
which Andy Foster's bill. We talked to Shane Jones about
it because Foster was unavailable for some reason. Anyway, Andy Foster,
New Zealand MP. He's got that bill about woke banking,
so banks who don't want to lend or want to
close down petrol stations and cold that's been pulled. That
was a private members bill. It's been pulled from the
Biscuit Tin. So now the pressure goes on. This is
New Zealand first versus the coalition. Now the pressure goes

(20:30):
on act and the pressure goes on national. Do they
see this as a legitimate piece of legislation? Is there
some politics to play here? Because most importantly the question
to ask is do they have the numbers? So watch
this space eighteen to two.

Speaker 1 (20:44):
The Mic Hosking Breakfast Full Show podcast on iHeartRadio powered
by newstalksp.

Speaker 3 (20:51):
My dis incentives for banking New Zealand include comparatively stringent
reserve bank regulations for capital reserves, that's true, lack of
transactional volume due to a population less than Melbourne City.
Criticism of margins is only part of the picture. Don
you're onto it.

Speaker 10 (21:04):
But part of the.

Speaker 3 (21:04):
Problem is Adrian goes nts the bank's faults and the
banks goes narts Adrian's fault and Liver the Twain will
meet them. That is why you need bold government.

Speaker 8 (21:11):
Six forty five International Correspondence with Ends and Eye Insurance
Peace of mind for New Zealand business.

Speaker 3 (21:17):
It's by Richard Arnold. Morning good money might please stal sorted,
Yet what's happening.

Speaker 16 (21:22):
Well, it's set a story turning point. That's what's happening.
Since World War II, the United States has focused on
developing a democratic alliance in Europe and elsewhere to stand
against Cold War dictatorship. Now, at lightnings speed, Trump is
embracing Russia and slamming the embattled Ukrainian leader Zelensky, calling
him a dictator and using criminin talking points by suggesting
Ukraine's started the wars. Zelenski says, Trump is a.

Speaker 2 (21:45):
Quote dictator without elections.

Speaker 14 (21:48):
Zelensky better move faster, He's not going to have a
country left.

Speaker 2 (21:51):
Gotta move, got to move fast.

Speaker 14 (21:54):
Yeah.

Speaker 16 (21:54):
Trump has never called Putin a dictator. And there's of
course a bit of history there isn't there Trump that
impeachment hearing after he was held weapons from Ukraine unless
Zelensky backed him up by claiming falsely in twenty nineteen
that the Biden's had dirty dealings there. Trump now is
slamming Zelensky, killing him a modestly successful television comedian, a

(22:14):
modestly successful tabloid TV figure who goes into politics. Why
does that sound familiar anyway? Trump says, Zelensky talked the
US into spending three hundred and fifty billion US dollars.

Speaker 10 (22:24):
That is false.

Speaker 16 (22:25):
The US response financially has total one hundred and eighty
three billion till September twenty twenty four. Trump claims the
US has spent two hundred billion dollars more than Europe,
but that also false. US has spent eighteen billion dollars less.
Trump says the US will get nothing back from what
it has spent on the war.

Speaker 4 (22:41):
That also false.

Speaker 16 (22:42):
The American Enterprise Institute says seventy percent of Ukraine eight
has been spent in the United States, with much going
to local weapons manufacturers. Trump says Zelensky has refused to
have an election and is at single digits in the polls.
That also false. A recent survey so Zelensky has a
fifty seven percent approval rating. While Trump says nothing about

(23:02):
Russia's dubious elections where opposition leaders are killed or exiled
as for not holding elections theory wartime Saint Churchill he
did the same. The Wall Street Journal Ripert Murdoch has
split today with Trump on Ukraine with a new piece
entitled Trump Tilt Towards a Ukrainian Sellout. It reads, quote,
the US has a profound interest in denying mister Putin
a new perch on more of the NATO border.

Speaker 10 (23:24):
A deal that.

Speaker 16 (23:25):
Amounts to Ukraine's surrender will be a blow to American
power that will radiate to the Pacific and the Middle East.
End quote Republican political responses. Well a few are voicing
support for Ukraine, like Collins, mckowski, Kennedy, Tillis Wicker.

Speaker 4 (23:40):
I agree that President Celenski is to blame.

Speaker 17 (23:44):
That I absolutely when Knights Hey that Zelenski started the war,
it is quite clear.

Speaker 14 (23:53):
Who started the war.

Speaker 17 (23:55):
It was absolutely Russia that puts directive.

Speaker 15 (23:58):
Put sharing water.

Speaker 14 (24:00):
I also believe.

Speaker 18 (24:03):
Through bitter experience that Vladim and Putin is a gangster.
He's a gangster with the black Hawk. He makes Jeffrey
Doma look like Mother Kusha. He has Stalin's taste for blood.

Speaker 19 (24:18):
That invasion was the responsibility of one human being on
the face of this planet. It was Vladimir putin in
a calculation to go through Ukraine and not stop there,
to go through Moldova, to go through the Balkans, to
ultimately go to the Baltic States and send the signal
to China that now is the time that they can
take action in the South China Sea.

Speaker 5 (24:38):
Who knows a war criminal and should be in jail
for the rest of his life if not executed.

Speaker 16 (24:44):
Woods another. Republicans today are mellowing the tone on Russia
non a criticizing Trump on this. So what's behind it?
All matter of speculation, but there are related incidents. The
other day, Zelenski refused to sign that paper giving the
US rights to half Ukraine's remn Well in return for nothing,
and that refusal is said to have teto Trump. There

(25:04):
is speculation also that Trump is looking for a deal,
not a small deal, but a mega maga deal, one
that would involve the US, Russia, and apparently China. At
the Munich talks the other day, the Russians produced a
claim that if the US resumes dealing with Moscow again,
they could make three hundred and twenty four billion US
dollars carving up the planet. It's been said by aids
that Trump wants a Nobel prize, plus a national holiday

(25:25):
in his name that's been proposed by one Republican here,
and maybe a spot on Mount Rushmore. Not clear that
Moscow and Beijing have the same sorts or if the
new carve up of the planet is no more likely
than the Trump goes a casino.

Speaker 3 (25:37):
We will see you on Monday. Appreciate it. Richard Arnold
stateside and just we were after the nuclear people the
other day that they sacked and needed to hire back
because they needed somebody to look after the nuclear weaponry.
Bird Flu's the latest US Department of Agriculture. All the
people who are working on the bird flu. They sacked
them as well. But now that bird flu is a
bit of a problem, the price of eggs have gone
through the route. They need to hire those people back

(25:57):
as well. Nine minutes away from seven the make.

Speaker 1 (26:01):
Cosking breakfast with a Vita Retirement Communities News togstad v.

Speaker 3 (26:05):
Here are the Fed minutes. And this is why they're
not moving their interest rates, because they've worked out what
we all know. Tariffs don't work well for the economy.
The effects quote the effects of potential changes in trade
and immigration policy, as well as strong consumer demand. Business
contacts in a number of districts have indicated that firms
would attempt to pass on consumers higher input costs arising
from potential tariffs. We've been through it all in COVID.

(26:26):
We've seen how it works. The moment you make stuff
more expensive, somebody is paying for it. It's the consumer.
Germany this weekend so so interesting, they're voting. The talk
is the AfD. The latest poll has the CDU CSU
and they hang out together at twenty nine point three,
the AAFD coming in second at twenty point seven, the
SPD at fifteen point five, the Greens at thirteen, the

(26:47):
Left as they call themselves, six and a half. So
the question is can the CDU and the CSU do
business with the AfD. That's if the Poles are right,
and Germany tends to be a bit you know, militaristic
like that, they tend to get these numbers right. And
if you've ever watched a German election, and it's well
worth watching, is the polls close at Pikta whatever time
they close, seven o'clock, the result comes in at one
second past seven bag like that. That's how elections should

(27:10):
be run. It's not in New Zealand where we're and
we're standing by for the counting in Hallandsville. So twenty
nine point three and twenty point seven that's a government.
But do the CDU and the CSU work with the AfD.
Do the AfD have anything to do with anybody? And
if they don't, and they can't and they won't, then

(27:30):
what five away from seven all the.

Speaker 4 (27:34):
Ins and the ouse.

Speaker 1 (27:35):
It's the fizz with business fiber take your business productivity
to the next level.

Speaker 2 (27:40):
Still good us.

Speaker 3 (27:41):
Earlier on this week, investors coming back to the housing
market core logic I've seen it as well, so feb
Housing chart. It shows increased market activity among the movers
and people with multiple properties. They've made up twenty eight
percent twenty four percent respectively, so twenty eight percent in
the movers category. That's for the month of jan First
home buy is still there at twenty five, down a
bit from twenty six q four last year, but you

(28:01):
know they're there. They're seeing investors return at levels not
seen since twenty twenty one. Why boggage rates baby money
coming back down, further cuts on the horizon and why
the investors back will The gross rental yield is now
at three point nine percent, which is the highest level
since twenty sixteen, so there's money to be made in rentals,
which is good. In terms of listings, there were twenty

(28:21):
nine thousand, three hundred in January, which is up twenty
five percent on the five year average, So there is
no shortage of houses on the market at the moment.
So if you're in your only question, if you're borrowing money,
your only question is do a hang in a little
bit longer because you've got a couple of twenty five's
coming from the RB, or do you jump now, or
do you lock in a bit long term? Or do
you try and second guess the market? And so you go.

(28:42):
We got a quote yesterday there was there was a
moment of tension in our house yesterday. I wouldn't call
it tension. I would call it sweet relief. But some
didn't see it that way. We got a quote we're
doing some work on a house, and I had a
number in my mind as to what that would be,
and the other person that I'm involved with had a
number in her mind as to what that would be.

(29:04):
The fact that she lives in a different world and
a different planet really doesn't come into it until you
articulate that out loud. And when you say you live
in a different world on a different planet, that's where
the tension starts.

Speaker 20 (29:15):
But so it was one of you closer than the
other two that it was quite.

Speaker 3 (29:19):
I was spot on, and and I made the mistake
at that point going that's actually quite good, and she
things happened at that point anyway, so there was a
gap between what she thought it might be and what
I thought it was. And anyway, I think we decided
at the end of the day that that wasn't bad
at all. So we're doing that and somebody, some lucky

(29:41):
family is going to be the recipient of some fantastic
renovations and they're going to thoroughly enjoy them. And if
they didn't them or scratch them, they're going to have
to answer to me.

Speaker 1 (29:49):
News for you next, the only report you need to
start your day the MI casting breakfast with the range
rover Villa designed to intrigue can use TOM.

Speaker 3 (30:01):
Seven past seven. So we've got to report into fifty
eight councils long term planning from the Order to General
councils we read have made a significant achievement meeting their
requirements on time and uncertain circumstances. This led to the
AG to suggest the Central Government might like to do
something similar to be the Order to General Andrew McConnell's
with it's Andrew, very good morning to you good morning.
Makeel can I suggest the reason that the councils might

(30:23):
have done something half decent is because central government tends
their views and policies tend to be a little bit
starker than a local council. Is that fair or not.

Speaker 21 (30:32):
I think that councils have done a really good job
for a couple of reasons. First, they've done this since
around two thousand and six, so they do understand what
they need to be looking at in the first instance.
And also we provide a level of assurance over this
which does help them, does help them arrive at a

(30:52):
strong document. And what's the purpose of this this planning, Well,
this pantem is really about how council how councils strike
their rates. Fundamentally are the councils are giving a whole
range of power by both state to levy rates to
use those rates to meet public services in the regions.

(31:15):
And these plans really are for councils to be able
to plan forward, invest in their infrastructure and really show
the public how their rates money is going to be used,
which is why we're in the business of assuring them.

Speaker 3 (31:28):
And but I go back to the central government. I
mean what's happening at the roads and infrastructure at the
moment is a very good example. I think what they're
trying to do this current government, no politics involved, but
what this current government is trying to do around infrastruction
roads is completely different from the last government. So how
do your long term plan when you know it's going
to change whereas you're not going to see the same
level of change at local level.

Speaker 21 (31:47):
Well, what we're what we're really doing is raising the
question of how much does central gom and understand about
infrastructure costs. Now, these are long term assets, they are
varying ages, they are a varying degrees of condition, and
most government agencies have some form of infrastructure are relying on.
So where we think that question needs some serious consideration.

Speaker 3 (32:12):
And can you long term plan more easily if you
run things like most councils do on a cost plus
accounting basis, where you just start putting up the rates
twelve thirteen, fourteen, fifteen percent because someone else will pay,
and you can't do that at central government.

Speaker 21 (32:26):
Well, the shows that councils out they're just Q leaders
really to control their revenue so that they can really
address the expenditure that have got going forward. So there's rates,
there's some other revenue, there's debts, there's there's cutting services
and making savings or if you're fortunate enough, you've b
as your sales, and then there's the government. So really

(32:49):
we think there's a conversation there around how councils will
go on in this space. It is getting much more
difficult with councils in terms of long term sustainability because
of the age of their infrastruction exactly.

Speaker 3 (33:02):
Andrew, good to talk to you appreciate it. Have a
good weekend. Andrew McConnell, Deputy Order to General with us
this morning ten minutes past seven. Skiing the cars back
this weekend. I'm excited about that. Been a big gap
between drinks. Darmond Duma are sorry, Darman Kumar set to stay,
parents got to go though. Tough call for the minister.
I suspect a lot of questions around how many overstars
this week we've got in the country. Got no idea

(33:23):
about now. Katie Armstrong is the owner of Inter New
Zealand Immigration back with us, Katie morning.

Speaker 6 (33:27):
Good morning mane.

Speaker 3 (33:28):
The lack of stats did any of that? You know
the fact that we haven't got a clue who's here
and who isn't? Does that surprise you, worry you, upset you?

Speaker 6 (33:36):
I do find it a little bit upsetting. It doesn't
surprise me. I don't think there's much resource put into
this kind of research anymore at all. But yes, I mean,
it would be extremely useful, would it not to have
some kind of better clue the last starts We're in
twenty seventeen.

Speaker 2 (33:51):
Right do you?

Speaker 3 (33:52):
I mean, how does it materially affect us outside of
every now and again somebody comes to our attention that
may need booting out of the cunty.

Speaker 6 (34:03):
Well, that's one way of putting it. The other way
is look at just always remembering that these are you know,
these are individual people who respect you know, who need
dignity when treating them. But how it affects New Zealand
as a whole, I guess is that out there? I don't.
I don't think anybody would think it's particularly healthy to
have long, long term overstayers in the country, particularly these

(34:23):
cases with children.

Speaker 3 (34:25):
Do love these people? I was thinking about the Kumas.
So at some point you are become illegal and then
you go to yourself, right, well, the week's gone by
a month's gone by, years gone by. Can I go
to somebody and try and get that rectified? Do you
deal that sort of thing or not? Yes, can you
rectify it?

Speaker 6 (34:44):
Well, there are mechanisms for rectifying, and yes we do so,
you know, we've we've got within the law. We have
two different processes for attempting to rectify. One is where
you go into the jaws of Immigration New Zealand itself.
It's called a Section sixty one process. Sometimes that's successful,
but it depends on the mood of your you know,

(35:05):
of Immigration New Zealand. The other backstop is the minister.
The thing that happened in this case with Kumar, which
I think has caused, you know, really really caused a
lot of upset, is that that was a case that
was meant to be decided by an Associate Minister whose
job it is to to you know, be that safety net,
but in fact it was seemingly palmed off to what

(35:27):
we call the delegated decision makers. These are people within
Immigration New Zealand who are making some very hard nosed
decisions of late.

Speaker 3 (35:36):
Is that a crapshoot if you go within, as you
put it, within the jaws of the department. If you
get Brian who's in a good mood as opposed to Sharon,
who's an infoul mood, can it change on that or not.

Speaker 6 (35:47):
I think our industry would say that most of the
time that the delegated decision makers are not in a
particularly good mood.

Speaker 3 (35:53):
Right, So you bout it out and have they solved
the problem? He stays, parents gone. Has that solved anything?

Speaker 6 (36:00):
Well, it's definitely solved something for him around his ability
to go into tertiary education. And I think it was
absolutely the right decision. That was, you know, it was
a no brainer. I think with the parents it's terribly fought.
I don't know the individual circumstance. I don't know how
they came to be overstairs. I don't know what they've
done with their lives. Clearly, for the child or the

(36:21):
two children, it's going to be traumatic that the parents.

Speaker 14 (36:23):
Have to leave.

Speaker 3 (36:24):
Yeah, and see, if you were blunt, you might say
something along the lines of maybe the parents might like
to have thought of that.

Speaker 6 (36:32):
Yes, And I hear you and I understand, and these
are all the different balancing acts. I think that's one
of the reasons why we haven't had the amnesty is
because people, you know, this government said, you know, it's
all very well giving an amnesty to overstairs, but what
about the lawful people.

Speaker 3 (36:50):
It's a sort of a microcosmic version of America at
this point, isn't it well?

Speaker 6 (36:55):
And I see it as an opportunity Mike, for news
EUM to differentiate its approach to America. I mean, our problem,
you know, the last starts of fourteen to twenty thousand,
the UK's got maybe up to a million, noting or
maybe one point two million. Our problems are really very small.
We don't have land borders. We have to remember that.
So we could potentially sort this, but I would like

(37:16):
to see more work done also in parallel on what
do we do about those long term legal people who
missed out on that twenty twenty one residence ZA. That
was the big opportunity. That was the opportunity to actually
during COVID say to people who were lawful, you've got
a pathway, but where the way they sliced and diced

(37:37):
it was terribly unfair. And we have got people I
spoke to one yesterday who's been here lawfully for a
good number of years contributing what happens to that person.

Speaker 3 (37:47):
Striden de Pence World and Caddie Good to Heavy on
the program, Caddy Armstrong Mike, it would be interesting to
know the high number of houses on the market indicate
that people are struggling and having to sell or are
they looking to sell and trade up. They've got the
answer to that. More shortly for the past.

Speaker 1 (38:01):
The like asking Breakfast Full Show podcast on iHeartRadio, Howard
by news Talks, that'd be news.

Speaker 3 (38:08):
Talks ey seventeen past seven. I can't tell you how
many texts I've got this week on the same subject.
And the answer has been given to you have the
Kumars paid tax over the years? What is the role
of the ID and other agencies and such immigration? The
answer is, and the clue was in Brian Roach's report
into certain aspects of the public service earlier on as
regards the Monaewa Maria. Different subject but same theme. What

(38:30):
you're assuming is the public serviceer up too much. What
you're assuming is that they share information and their first world.
What you're assuming is that they're good at their job.
None of that happens. So just because you pay tax,
as I've said on this program, over and over this
week just because you pay tax in your name's mister Kumar,
if you pay tax, not that they don't care. The
IOD is not remotely interested in you other than whether

(38:51):
you owe them tax or not if you didn't owe
them tax. And it built up over many, many years,
and they came and looked at you, and they had
the wherewithal and looking at you beyond your business as
to whether you might be an overstaer or not, which
they wouldn't because they don't care, because they're not interested.
It's ridiculous. It's like you going to the doctor with
a sore throat and them going, so, do you know
how to fix a car? They're not going to ask that.
They're not interested. They're completely different departments and they don't

(39:14):
talk to each other. So it's no wonder there are
people wandering around the country nobody understands. Mike. It would
be interesting to know the high number of houses on
the market indicate that people are struggling and having to sell. No,
that whole thing that was going to be is like
the mortgage cliff during COVID, it never happened. The number
of stressed or destressed sales in the market is extremely low.
It has been low, it continues to be low. By

(39:37):
and large people are handling things quite nicely. Thank you, Mike.
You should be buying an investment property in Sydney. Thank
you for that. Bitter returns, more tenant demand and far
more likely your kids will need a place to live.
It's excellent life advice. So I love the audience for
the life advice. Mikey, you're building another pump shed or
a greenhouse.

Speaker 4 (39:54):
No, I'm not.

Speaker 3 (39:56):
I was referring to a rental property. Jason, the boss
of this radius. He's the one who got the shed
this week, the Mattakana shed it got. He's not much
of a handyman. He bought kit set and hired a person,
if you can believe it, I mean, who can't swing
a hammer, for God's sake, hired a person to put
the thing together, which I understand to have happened yesterday.
So I'll give you the.

Speaker 20 (40:16):
Update I've been.

Speaker 9 (40:17):
You can't deny you've been a bad influence on him,
very much so, I mean, and proud of it. He
spent hundreds of dollars hiring a person to hang their
pictures when they moved in.

Speaker 3 (40:25):
Spread the money around the economy. Have I said that before, Glenn,
Or have I said that before? Spread the money around
the economy. Then we get to tomatoes. But I'll come
back to that in just a couple of moments. Du
Boir by the by just quickly. The guy who Joseph
Parker is going to beat on Sunday morning in Saudi
Arabia's fallen ill oh ha's he So he's being assessed
by a doctor as we speak. So we'll keep you

(40:47):
posted on that this morning as well. Mark the week
shortly seven twenty.

Speaker 1 (40:52):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio Power
by News Talk Sippy.

Speaker 3 (41:00):
Now, if you've got a young person in your life
who's wondering what direction to take themselves, someone that you
know values a bit of creativity somewhere that offers real
life opportunities and fashion and beauty, tell them about the
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(41:20):
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I wait hundred Sivills. Or you go to Civill's Academy
dot com and enroll, or book a tour Saville's Academy
dot Comski twenty four. Time to mark the week. Little
piece of news and current events that's is popular is
a Como holiday snap on TikTok Super Rugby seven Ye

(42:05):
good rugby. No one knows who's going to win. The
crowds were okay, the Warriors seven haven't lost yet. Thrashed Melbourne,
Big crowd Vegas Here we.

Speaker 2 (42:16):
Come and.

Speaker 10 (42:19):
Got that right.

Speaker 3 (42:20):
Jd Vant six bead and six.

Speaker 20 (42:23):
Thanks to all of you for making it possible for
us to.

Speaker 3 (42:26):
Do all the great work we've been doing it bad
example with Romania, But the point about Europe was a
wake up call and actually pretty accurate. Zelenski two about
as bad a week as a week can get. Center
and Tennis three. I mean, for a sport that I
assumed didn't want to look shonky, it's got a very
w w E vibe about it these days. Farm it's
nine and deary regulation driven by reality, not fairy tales.

(42:50):
These days, no wonder they're feeling good. White Lotus seven
still looks good despite the reviews. And look, if you
believe the rebus, you clearly can't think for yourself. Sir
Brian Rose. Report three, Wow, I mean you despair, hopelessness
for all to see. Cole seven never been more popular.
Ask Genesis boot camps six. The report spoke well of

(43:12):
the pilot pitting the media. You didn't cover more of
the report as opposed to the Labour Party pylon speaking
of pylons school lunches one. By the time we got
the halal bitch and the loss of community comment, it
reached peak idiocy. Speaking of bitching. Everyone must go too.
You know what it might actually work. Moaning about a

(43:33):
strap line is the easiest thing in the world, and
everyone doesn't. Speaking of which, December tourist number seven up
and those Americans can't get enough off its manufacturing eight
because it turned positive for the first time since they
made the steam engine Debbi from the Maori Party one.

Speaker 10 (43:49):
It wasn't aware of what had gone on, weed.

Speaker 3 (43:54):
That detached from the world in which are allegedly serving
old and on holiday while you're displaying your ignorance. You
gotta wonder, mind you, as Rawai so eloquently and yet
incorrectly put it, it could be a hatch job. And
that is the week copies on the website and several
earlier and ancient editions of these works were in fact
found in the tomb of Tutmos this week in Egypt.

(44:16):
Cads Gg, Yeah, I was going, I need to get
to the Warriors part of the Vegas thing. Are selling
the most ridiculous bit of memorabilia I've ever seen, and
I'm the biggest Warriors fan as you know. Anyway, So
I'm at Gregg's place yesterday and he's growing his tomatoes outdoors,
and he says to me, I'm growing my tomatoes outdoors.
Now I'm growing my tomatoes indoors. And this goes back
to the text day you building another pumpsuit or a greenhouse,

(44:37):
and I'm not building another greenhouse, but the greenhouse the
greatest thing we ever did. And we're building that. We're
growing these tomatoes and capsicums and lettuces and leaves and
herbs and spices and everything in there. It's the greatest thing.
So I'm talking about my tomatoes and doors, and he's
talking about his tomatoes outdoors. And it suddenly occurs to
me and I'm doing the heirlooms and he's doing the heirlooms,
and I'm thinking, well, I paid a lot of money

(44:57):
from my greenhouse and he's just growing them outdoors. If
I spent far too much money on growing indoors. Anyway,
sudden occurs to me, is this old man chat?

Speaker 4 (45:03):
Is this that's how Greg cuts it?

Speaker 3 (45:06):
Is this a couple of old fats, same couple of
old fights talking about tomato? Tarlia, what my tomatoes?

Speaker 2 (45:13):
Greg?

Speaker 3 (45:14):
I thought this is fort anyway, But then we kept
talking about them. More news for you in a couple
of moments. Then we'll talk to the boss of b
in New Zealand.

Speaker 1 (45:23):
New Zealand's voice of reason is Mike the Mic asking
breakfast with Bailey's real Estate finding the buyers others can't
use togs d B twenty.

Speaker 3 (45:33):
Three hours away promote Friday Morning, Tim and Caty to
the week for a shortly meantime. The troubles in New
Zealand have been having played out in number four yesterday
as a half year result got released proppits down eighteen
percent to one hundred and six million. Are they found
out that basically if your engines don't work, the planes
have trouble getting off the ground. In New Zealand's chief
executive Greg four And is back with us. Very good
morning to you, Good morning, glass half full. It could

(45:55):
have been worse. Is that fair?

Speaker 10 (45:59):
No?

Speaker 22 (45:59):
I'm'd actually say Mike that I'm pretty proud of the
result that their New Zealand's has delivered for the half.
You know, when you consider the amount of aircraft we
hadn't been able to get, it's a bit like playing
a rugby match without your front row. And I'm really
proud of the way that our team have stepped up.
I think they've done a terrific job.

Speaker 3 (46:18):
When does the trouble end.

Speaker 22 (46:20):
Probably two to three years. Unfortunately, there's a pretty long
lead time. There's probably about two thousand aircraft that have
got to get built between Boeing and in Bus, and
on top of that, we've got Rolls Royce with a
few challenges, Prant and Whitney with challenges, and you know,
once again I say, you've got to.

Speaker 2 (46:41):
Work through it.

Speaker 22 (46:41):
It's not going to get fixed quickly. But I think
the team is doing a very good job actually managing
and what are pretty challenging circumstances.

Speaker 3 (46:50):
What's your biggest problem the engines or the new planes
you aren't getting?

Speaker 22 (46:55):
Primarily, I would say the engines first up. We're heading
into a period mic where we go to have eleven
of our aircraft unavailable. That's going to be about seven
thousand seats a day. We have to cover that by
bringing in least aircraft. We're actually as recently as yesterday
scrambling around to try and get another what we call

(47:17):
wet leaf aircraft. So that's where you know, a set
of crew, including the pilots, actually come in and fly
because we just cannot get enough engines out of Rolls
Royce and Pratt.

Speaker 3 (47:31):
And Whitney I have tremendous Are you being paid by
them by way of compensation? I read a number. It was,
but it didn't make up for the loss your suffering,
does it?

Speaker 22 (47:40):
That's correct?

Speaker 20 (47:40):
So they did.

Speaker 22 (47:42):
They paid us just over ninety million dollars for the
first half, and you're right, it doesn't make up for
what we're missing. There would be over another forty million
that we have that we have to incur. But you
know that doesn't include what it does to your reputation.
And that's what worries me. You know, because people get
on a plane. It may not be any New Zealand plane,

(48:04):
or it's an older plane, and we're having to scramble harder,
and you know, and what that means is that the
operation doesn't run as well. You know, the Swiss watch
that I often talk about internally is not quite as
accurate as we want it to be. But as I
can tell you, we are striving to do this and
we're not sitting on our hands, not for one day.

Speaker 3 (48:24):
There are a couple of I mean, you can do
it and slice it up different ways. The domestic reputation
seems to be really troubled. Is your domestic network affected by.

Speaker 22 (48:32):
Engines indirectly, it is because in order to cover the
fact that we are six of our earbars A three
twenty ones down our best aircraft, we're asking the regional
turbo props to fly harder. And you know by that,
I mean having to do sectors that you wouldn't ask

(48:54):
them to do, so that puts a bit of pressure
on parts and maintenance and people. The good news is
we track this every single day and I can tell
you I get as frustrated as anyone I see every
single cancelation that comes through in this business. The good
news is we're making some real headway and actually since

(49:15):
the beginning of the year there have not been too
many cancelations. In fact, cancelations for year to date are
running it just to tad over one percent in the
three averages too. We went through a period just before
Christmas December.

Speaker 3 (49:31):
I'm looking at the number seventy two, seventy four percent
on time takeoff landing. That was your problem because that
fell off from November, didn't it.

Speaker 22 (49:41):
November wasn't great. And you know those stats are public.
We share them with the mot and you know, look
they may be better than some others, but that's not
the benchmark that we set any in New Zealand. We
want that number actually to be about eighty three percent.
The good news is since January, that's what we've been delivering.

Speaker 3 (50:02):
I know this is rough, but for the purposes of
this interview, I look at Singapore, Emirates, Quantus, United Qatar
career in terms of revenue and their profit. They're doing
many times more profit off revenue than you are.

Speaker 4 (50:16):
Why.

Speaker 22 (50:18):
Two things, they're not dealing with the same economic situation
that we are. You know, our government spend on the
domestic airline is significant, a significant portion. That is down
twenty five percent. Corporate spend is a significant portion of
domestic that's down ten Second thing, they're not dealing with

(50:41):
the same engine issues. See, it all depends what model
engine you have on your plane. We unfortunately had the
two that is most troubled at the moment. So that
part of dumb luck it will pass.

Speaker 3 (50:56):
Yeah, of course it will. But that's just because that
was my next question. None of these people say to
have the problems you do, is that just sheer dumb
luck we bought the wrong planes.

Speaker 22 (51:05):
Well, it's easy in hindsight to say, you know, maybe
we shouldn't have bought the Trent one thousand and we
should have bought, you know, the gen X engine, which
is a general electric engine. We made that decision back
in two thousand and four. We put it on a
plane in twenty and fourteen. We had troubles with it
in twenty and seventeen, and that trouble continues. They have

(51:27):
to solve. I can't go back that far in two
thousand and four.

Speaker 2 (51:32):
But it is what it is.

Speaker 4 (51:34):
Well, I get that, so you you got to deal
with it.

Speaker 3 (51:37):
But it's an amazing thing that we appear to be
the only yearline in the world that made it that poorly,
doesn't it? I mean, if nobody else who had the
same problems, But you can't. So somebody in somewhere made
a massive cockup.

Speaker 22 (51:50):
I can. I can give you the names of those
so I can tell you that we'rez are in Europe.

Speaker 3 (51:56):
Is comparing all they've got, Greg, We can't, Wiz. Is
that what this has come down to. I'm giving you.
I'm giving you the airlines are flying to the country, Singapore, Emirates, Quantus, Qatar, United.
These are our competitors. Wiz, there doesn't fly here.

Speaker 22 (52:10):
Well, you know what I will say, is that some
of that is also scale mic. You know, when you
run a smaller air line relatively, which is what we do,
you can't afford to go and spread yourself with having
like four different engines on a fleet. You've got all
that extra tooling and all the other things. Because our
wide bodied fleet is circle just over twenty. If you're

(52:33):
running a business like United and you've got six hundred
wide bodies, then you spread your bets. We generally have
to take one or two bets. So we had Boeing
on the wide body, Airbus on the narrowbody. That's appropriate.
We run you know, a Trent on the wide bodied
and we run Pratt and Whitney on the narrowbody. That's

(52:56):
the right sort of decision making for an airline of
our size, but it leaves you a bit vulnerable if
things start to get tough.

Speaker 3 (53:03):
Okay, I understand that, look I have simply with your situation.
It's just that you can imagine the text I get
on a regular basis about any New Zealand's various service.
Two quick questions London is it back?

Speaker 2 (53:14):
And when.

Speaker 22 (53:16):
Probably two and a half years, dependent on delivery from Boeing,
we expect to get first new planes about the middle
of next year. We want to boost up our services
to New York and London is on the list. We
do have the ability to go there. We do have
slots that are available right.

Speaker 3 (53:37):
Second question was I read an article in the Sydney
Morning Herald and this is just one of many. At
the moment they are piling first class seats back into
planes as fast as they possibly can. Internationally, people are
prepared to pay seemingly any amount of money to fly
in luxury. Is what you're doing with the referb of
the airline going to miss the market by some margin?

Speaker 22 (53:58):
Absolutely not great question. Good news is you know in
about four weeks time, maybe you and I'll have a
chat because by then the first of our retrofits comes
back in. Well, it's been hard work getting that done.
We're right on the cusp of getting the first one
back that does have all the new product in it included,
and that is what we call an ELITK front row.

(54:20):
When our customers get on there, you're going to see
about a thirty percent increase in premium. But having said that,
the whole plane has been retrofitted in the latest and
greatest we'll also have a new uniforms on it. It's
going to be great and we haven't missed the mark
at all. I think we're well timed for it and

(54:41):
the business is in a great position.

Speaker 3 (54:43):
All right, good to talk to you. Appreciate it very much.
Greg Warrant, who is the New Zealand Chief Executive.

Speaker 1 (54:47):
Fourteen Do I come on the mic Hosking Breakers Full
Show podcast on iHeartRadio cow Ad Bye News Talks at.

Speaker 3 (54:55):
B It's eleven and from a couple of things. One,
first of all, clear Upwed going to be on the program,
and I tell you the story, not not in any way,
shape or form to be mean or to ridicule her
or at all, but it's an interesting story. So clear
Arkhmed is the Chief Children's Commissioner and the figures came
out yesterday on child poverty. She was due on the program. Now,
she didn't turn up on the program. The reason she

(55:16):
didn't turn up on the programs because the phone was flat. Now,
the reason her phone was flat that not that that's
an excuse, but the phone was flat because she did
not take her charger from her office home with her
to her house to charge your phone up. Now, am
I the only person who thinks that. Firstly, if you're
on a job of some consequence, you might have more

(55:38):
than one charger. Two, If you don't have more than
one charger, is that not abnormal? And therefore you might
want to do something about that. And I don't know
by a second charger so that maybe you can have
one in the office and one at home. And does
it surprise you that somebody with a job of consequence
cannot communicate with the world because their phone is flat
because they only have one charger as opposed to too

(55:59):
and if one and there's two ways of seeing this. One,
if the government can't afford a second charger, then there's
something wrong with the government. Or two, if she can't
have the wherewithal within her salary to buy herself a
second charger, then something's wrong with her. Once again, I reiterated,
I'm not making fun of her. I'm just saying that's
what happened this morning. That's a reality. That's an outworking
of the way some people run their lives, in the

(56:21):
way some people think about how they run their lives
and their job and their role. Now, she was due
to come on the biggest radio program in this country
by some margin with what I'm assuming is a reasonably
important issue to her, i e. Child poverty. But she
couldn't because she didn't have a second charger. That smacks
to me of third world thinking and third world behavior.
Does or does it not?

Speaker 20 (56:40):
Well?

Speaker 9 (56:40):
I mean a lot of the big phonemakers don't include
charges in the box these days.

Speaker 3 (56:44):
Couldn't give them monkeys, Glenn, go buy twenty charges now.
Second point, I won't repeat what Glenn said to me
during the ad break about Greg for it, but you
can imagine what it is.

Speaker 20 (56:56):
Well, you can't illegally can't.

Speaker 3 (56:57):
No, legally I can't. That's quite right. But Glenn, he
speaks on behalf of I suspect about eighty seven point
eight percent of you, and you can imagine what he said.
And this is the difficulty I have. I have tremendousympathy
with Greg Furan. I like the guy. I think he
came in at an inopportune time from Walmart and he
looked at the place and he went, what the hell
have I brought myself into? And he's stuck with it

(57:19):
and it's not his fault. They weren't his decisions that
the engines didn't turn up, and that the planes he
ordered haven't turned up either, and so he's stuck. And
we're in a little country at the bottom of the
world with an airline that has lost the room in
terms of our love for it. We hate it. I don't,
but lots of people do. Our patients with the National
Airline has run out. But it's critical that we hold

(57:41):
true because we own a chunk of it. In fact,
we own the majority of it, and one day it
might come right. I pray to God it does. But
their behavior in the last handful of years has been reprehensible,
and that's why people hate them. The debate, obviously, is
that reprehensible behavior. How much of it's them and they're

(58:01):
incompetence versus how much of it is beyond their control?
In other words, should they have had another phone charger?

Speaker 9 (58:08):
It's not beyond their control. Don't shared your a flight
if you can. If you can't do it, that's that's
the problem.

Speaker 10 (58:16):
Is this.

Speaker 3 (58:16):
I don't want to go back to the ad break there, Glenn,
where you're just oh, we're not on the ads yet.

Speaker 1 (58:21):
No.

Speaker 3 (58:21):
I hate minutes away from it.

Speaker 1 (58:23):
The Mike Hosking breakfast with the range Rover of the
Lawn News togs Head B what question.

Speaker 3 (58:29):
I've seen a version of migrant abuse here at work
this morning, but without the migrants, because I think they're
both born here. Helen, who produces Kerry Woodham Show, has
been doing Kerry's hair this morning. Now is that above
and beyond the call of a producer?

Speaker 19 (58:44):
Now?

Speaker 3 (58:44):
I went and got my haircut yesterday by a professional.
Now should I be getting Sam to do my hair?
So the reason that we're getting tarted up this morning
is because I keep telling Kerry this. I said, Kerry Love,
there's no need to take yourself up. There's a natural
beauty there that you don't need to enhance any firs.
Those are the words I used to wear a regular basis. Uh,
the Prime Minister's coming in for some chat up to

(59:05):
nine o'clock and Kerry likes to dole herself up for
the occasion. Clearly she normally gets a professional in the
professional clean not available today. So Helen has been wielded
into run some curls through the hair. So is that
migrant abuse minus the Factori's migrant?

Speaker 20 (59:23):
Helen was having a lot like that nail salon and it's.

Speaker 3 (59:26):
Not dissimilar in Gudsney Street. Yeah, and does it interfere
with the prep of the program, because while you're rolling
the curlers, you can't prep for the program, can you?
So is the program going to suffer because of the
hair curls? These are the things we're going to be
talking about after Rate with Katie and Tim Mike host game.

Speaker 1 (59:43):
We've insightful, engaging and vital the Mic Hosking Breakfast with
a Vita, Retirement, Communities, life, your Way, youth, dogs head, b.

Speaker 14 (59:53):
Indeed you fool little crow. It had a whole that
no good at tidy.

Speaker 3 (01:00:06):
At the end of the So, this bloke's called Strange
by name and nature. Was raised on fear. His family
told them scary stories to teach life lessons, and at
an early age he started watching scary movies for practice
being strong. The album is called Oh No, Sorry, My apologies.

(01:00:31):
He's called Barties Strange. The album's called.

Speaker 14 (01:00:37):
Poland then time he went aside to take some time
to get.

Speaker 3 (01:00:46):
Genre bending threads of the music as dad introduced him to.
His dad introduced them to Parliament Funkadelic, Teddy Pendergrass and Fleetwood,
Mac's Still.

Speaker 20 (01:00:58):
Nobody, It's I do actually hear about.

Speaker 3 (01:01:08):
World tracks and forty two minutes of batis strange.

Speaker 1 (01:01:14):
The Week in Review with two degrees fighting for fear
for Kiwi business.

Speaker 3 (01:01:18):
Tom Wilson, how are you.

Speaker 10 (01:01:21):
I'm good, I'm good. Birth your camera mile teacup clacking
against the microphone. I feel like I can hear a
teacup tickling.

Speaker 14 (01:01:28):
Oh, whoops, that's me.

Speaker 3 (01:01:33):
You're a little cup of tea.

Speaker 6 (01:01:33):
The apologies?

Speaker 17 (01:01:37):
Have you got the question sharing collagen into my tea?
Because you get to a certain age and you have
to really go hard on protein.

Speaker 19 (01:01:44):
En.

Speaker 10 (01:01:47):
Oh, let's start talking about tomatoes then, since we're doing
the old person talk. What I what I've realized about you, Mike,
is with your glasshouse, you've christ churchised tomato. Growing up
north would have gone along season. First of all christ
Church up.

Speaker 3 (01:02:02):
Or first of all christ it's funny you should raise that.
First of all, it's a winter garden, it's not a glasshouse.
But your point is interesting. Last night on the news
I watched the crime rate in christ Church has allegedly
gone through the roof, absolutely skyrocketed. It's carnage in christ Church,
and so I'm just carnage.

Speaker 17 (01:02:22):
Is probably a stretch but I do think it's it's
indicative because I remember saying to you when Auckland was going,
because my sister lives there and she'll be quite competitive
about crime levels, and of course, being an Oakland I
always lose. And she was telling me how safe christ
churches and so whenever there's a ram raid or anything,
I always send it to her. And yesterday I saw
that there was some crime in christ Church and I
said to her months ago, it's just, it's just it's

(01:02:44):
gonna happen. What happens in Auckland will get there eventually.
It'll just take a bit longer. And now it's there, and.

Speaker 3 (01:02:50):
You reveled in its points not as safe as your thoughts.
It's cold and crime ridden.

Speaker 10 (01:03:03):
Now you were you doing? Were you doing Kate's voice, Mike?

Speaker 3 (01:03:08):
I wasn't.

Speaker 10 (01:03:09):
Everyone says Mike's voice, Well.

Speaker 6 (01:03:12):
I can, but no, I don't want to.

Speaker 23 (01:03:14):
What I do?

Speaker 19 (01:03:15):
I do think.

Speaker 17 (01:03:17):
I hear enough of his voice, and I'm sure the
listeners do too. But what I thought was funny this
morning was Greg Forren trying to defend in New Zealand,
which is like, forget it. And what I loved it
when he sounded so optimist. I loved it when he
said and new uniforms are coming. It's like, mate, they
could be in sex. I just want playing to leave.

Speaker 3 (01:03:36):
Oh my god, have you been talking to Glenn again?
He's he's like saying the same thing to me. To
be fear to Greg. And I like Greg and I
want him to do well, and I wanted in New
Zealand to do well. But I think he probably got
a little fizzy on the fact that they were painting
the planes and the fact they had new uniforms. Because
I don't know that any no one, no one gives
a monkey's if.

Speaker 10 (01:03:57):
They just wanted to leave on time.

Speaker 3 (01:03:59):
If you could turn up in a Quantus uniform and
some Crocs but the plane took off, we'd be happy.

Speaker 17 (01:04:06):
Would you should be getting a deal with Crocs at
this point?

Speaker 3 (01:04:09):
I should be. Actually I've received no freebies from Crocs whatsoever,
because I put them on the Did you see the
Burks court case earlier on today in Germany?

Speaker 4 (01:04:19):
No books?

Speaker 3 (01:04:20):
What's that Burks wanted their shoe to be seen as
art by being seen as art than they can protect
it legally more easily. The judge turned them down and
play they are not art.

Speaker 10 (01:04:36):
It's a show.

Speaker 20 (01:04:37):
What about if you wear them with socks?

Speaker 3 (01:04:39):
You see?

Speaker 4 (01:04:40):
Oh that is a crime?

Speaker 10 (01:04:41):
That what about it? What about if you wear them
as ear rings? Could be a bit.

Speaker 3 (01:04:48):
You're an idiot? Would next quick question? I'm going to play.
I want to play a game after the break called
is Micah Snob? Are you in for that? It's good?
It's a good new guy?

Speaker 6 (01:04:56):
Is is immediately?

Speaker 14 (01:04:58):
Yes?

Speaker 10 (01:04:59):
Yeah, yeah, just let's just go to the break and
confirm it.

Speaker 3 (01:05:03):
Yes, no, yeah. If you landed in Toronto and you
slid along the run way and the plane flipped upside down.
But and this is not to make jokes of you know, disasters,
because this wasn't a disaster. It was just an accident
and everybody got off. Is thirty thousand dollars recompense? And
how do you come up with that? And does that
once and for all tim prove that people think money

(01:05:25):
solves all ills because I can't work out what thirty
thousand does for you. If your plane was upside down you.

Speaker 10 (01:05:30):
Got off, that's I mean, I'll take it if I'm
of course, But does.

Speaker 3 (01:05:35):
It solve your problem? Does it fix it?

Speaker 19 (01:05:37):
Does it go?

Speaker 3 (01:05:38):
Does that set the precedent going right. Next time your
planes upside down, it's thirty grand.

Speaker 10 (01:05:43):
Yeah, no, it does, it does.

Speaker 4 (01:05:45):
And you're right.

Speaker 10 (01:05:45):
Money doesn't solve anything. Money creates problems. We forget that.

Speaker 17 (01:05:49):
In America, that's all they know what to do is
write checks. I mean, that's that's how that whole system works.

Speaker 10 (01:05:54):
That's the well. But then again, Toronto, So is this
in the American system or then because you think.

Speaker 3 (01:06:00):
It's the recon system, it's the it's the it's and
it was seventy six, only seventy six people? And do
they do the numbers? Think about this at headquarters of Delta?
I mean, Greg, a lot of them are critically injured,
weren't they now three people? Three people went to hospital?

Speaker 10 (01:06:15):
Yes, but but okay, but oh this is this is weird.

Speaker 3 (01:06:20):
But this is why I raised Okay, so hold on,
you were saying this. It was critically injured off from
the thirty. The guy got off and he gets thirty
as well. What's that about?

Speaker 10 (01:06:30):
Should shouldn't we go to the injured?

Speaker 2 (01:06:32):
Yeah?

Speaker 10 (01:06:32):
The injured people should get more, they should get a minute,
all right?

Speaker 3 (01:06:37):
And what about the kumars who leaves the country and
who doesn't call it?

Speaker 10 (01:06:42):
No, it's not you know what, I think the parents
have broken the lord. They should lose. The son is
the innocent victim. He should stay.

Speaker 3 (01:06:49):
But is he a victim now because he's all by himself?

Speaker 4 (01:06:52):
But I mean he's not.

Speaker 3 (01:06:56):
He's eighteen. Would you leave you're eighteen year old in
another country as you got booted out?

Speaker 17 (01:07:01):
Well, not me, because I'm a helicopter mother.

Speaker 6 (01:07:03):
But no, I probably wouldn't have run the risk in
the first place.

Speaker 2 (01:07:08):
She wouldn't.

Speaker 10 (01:07:09):
You wouldn't even leave her in the mall a foreign country, right.

Speaker 3 (01:07:14):
No, we got too many texts people are insisting we
play as micro snop. More shortly fourteen past the.

Speaker 1 (01:07:20):
Mike Husking Breakfast Full Show podcast on iHeartRadio, power It
by News Talks.

Speaker 3 (01:07:25):
It'd be seventeen past eight the Weekend.

Speaker 4 (01:07:28):
Review with two degrees bringing smart business solutions.

Speaker 3 (01:07:32):
To the table, early reports and Mike, you don't have
to play the quiz. You are a snop, so there,
very much, so quickly.

Speaker 17 (01:07:38):
I think something people need to understand is that even
as a child, and I've confirmed this with Nana, and
even when you had nothing, you were a snop and
you wanted the finer things in life.

Speaker 3 (01:07:48):
Even when I had nothing.

Speaker 17 (01:07:50):
Yes, even when you were young, you always, you always
stuff you couldn't afford us. Sixteen year olds, for example,
would buy a beaten up old. Well, let's speaking of
term Suzuki swift. Let's say, for example, you wanted to
buy like an old jack, not a person.

Speaker 20 (01:08:07):
And OK, so let's not be jack.

Speaker 14 (01:08:12):
Exactly.

Speaker 10 (01:08:12):
When I when I interviewed Mike in the nineties at
Radio New Zealand, he had dollar signed cufflinks and the
the aura true, that was true, That's so true, that's true, disturbing.

Speaker 20 (01:08:31):
One of the only five five first mobile phones in
the country.

Speaker 3 (01:08:35):
As well, I had a motor roll of brick. I
had a motor roll of brick. I was about, this
is true, this is pathetic. I was earning seven and
a half or it might have been eight and a
half thousand dollars a year, and I had a two
and a half thousand dollar phone. Here we go, two
and a half thousand dollar phone hanging, and I've still
got the spade. I've got a two and a half

(01:08:56):
thousand dollar phone on eight and a half thousand dollars
a year, and I've also got a two and a
half thousand dollars better video machine. Then with what was
left of my salary, I went out and brought it
two an a half thousand dollar motorbike. So I've spent
my entire ye might sandwich and I didn't think about
what I do for food anyway. Be that doesn't my
quick question, Debbie, Now we're a packer not knowing what's

(01:09:20):
going on in the Pacific in any way, shape or form.
Am I being a snob in expecting better of public representation? Tim?

Speaker 10 (01:09:28):
Go? Yeah, I think she needs she needs to know.
I don't think you're being a snob. It's just requesting
something of leadership. She's the leader of taparty Marley. She
she needs to be across that sort of stuff.

Speaker 3 (01:09:39):
I would say, good answer, Katie. Your answer, Yeah, you've.

Speaker 4 (01:09:43):
Got one job.

Speaker 17 (01:09:43):
You're in parliament, you're representing the people. You should be
across the issues of the day. That was a massive issue,
up and down all over the news. You can't have
missed it. She sat in the house, she even asked
a question about it, So I actually don't believe that
she didn't.

Speaker 3 (01:09:53):
Know what was going So she's a liar. But that's
still my same question. Should we expect better of public officials.
Second question, you see it.

Speaker 10 (01:10:00):
Maybe it may be something, but it may be something
about t Pati Marti, who only care about a particular
segment of of of the electorate. So what the desert
is it? Is it the extremity of m MP.

Speaker 3 (01:10:13):
The extremity of the m m P. Very good point, Katie,
bean bag trays one, do we have one? I can
answer that now we don't. Of course we don't be
bad trays and eating dinner on your knee. Am I
brought one of those?

Speaker 6 (01:10:26):
You get them at Briscoe's.

Speaker 17 (01:10:27):
I saw them the other day. Actually they No, we
don't have them, but I have actually purchased one in
the past for one of the children when they were
unwell to have to have meals in bed. But no,
I don't think I think you should sit up at
the table and be a family and communicate and then
that's your absolutely no phones, no screens, engage.

Speaker 3 (01:10:46):
Okay, so I'm not being a snob.

Speaker 10 (01:10:48):
No, No, you're actually this is this is because because
you're a massive introvert. But you're you're attempt you're you're
defending social interaction. I'm constantly confiscating leg from the boys
at the table drawings, all sorts of stuff. You want
to sit at the table, look at one another and talk.

Speaker 3 (01:11:07):
It's Sam, Sam seas and this is a not unfair point.
He's by himself, He's lonely. Sam's very lately. So he
defends sitting down on a on a bean bag, sitting
in front of the television, watching the teley.

Speaker 10 (01:11:18):
With his partners at work.

Speaker 17 (01:11:19):
That's fair enough.

Speaker 7 (01:11:20):
I defend that.

Speaker 3 (01:11:21):
If what about the fact he doesn't have a dining table?
Am I a snob by seducing everyone should have a
dining tablement?

Speaker 17 (01:11:32):
Probably you realize one of our sons, the one living
in the UK, is an a flat that has no
dining table. I mean it's not not everyone has a
dining table.

Speaker 3 (01:11:39):
That's the scott Well, that's why I'm asking, am I
stop by expecting him to have a dining tab. If
we go to Scotland this year and walk in the
door and I go, for God's sake, Josh, where is
your dining table? Is he going to look at me
and Stobb?

Speaker 10 (01:11:48):
I think what you're what you're doing is you're defending
the relationships. So they need a dining table where they
can make time.

Speaker 3 (01:11:54):
Sam Ceesar's got one outside.

Speaker 10 (01:11:57):
Okay, we'll go out. That's good for summer.

Speaker 3 (01:12:00):
And my my question would bring it in.

Speaker 10 (01:12:03):
Maybe he could wrap his bean bag tray around himself
in the winter, keep himself.

Speaker 3 (01:12:10):
So what we've concluded, and this is very helpful for me,
I'm not a snob.

Speaker 10 (01:12:13):
I think you're Okay, Yeah, you're still a snob.

Speaker 17 (01:12:16):
I mean those were good examples. We can give different examples.

Speaker 10 (01:12:20):
I thought there would be different Yeah, I thought there'd
be different questions. To be honest.

Speaker 3 (01:12:23):
Oh, I'm sorry, but we're playing that. They're my rules.

Speaker 17 (01:12:25):
I think we're talking about your desire to only wear
one hundred percent Marino and not having at or cotton
fabric anyone in your skin, and only sleeping linen sheets
and only.

Speaker 3 (01:12:38):
Bottle and myself.

Speaker 19 (01:12:42):
You know.

Speaker 10 (01:12:43):
Why is your Oh well, your voice has just gone
up in octave.

Speaker 3 (01:12:48):
It is twenty two minutes past eight.

Speaker 4 (01:12:50):
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fifty one ninety nine. Unbeatable Chemist Warehouse catalog. That's all
in there and it ends nineteen March. In addition to

(01:13:37):
visiting your local Chemist Warehouse store, you can do it
online if you like. Collect and save time, fast delivery,
same day home delivery for goodnes sake, everyone's doing home delivery.
Taes and season charges may apply. It's Chemists Warehouse, Great
savings every day. Ask there's a difference between being a
snob and having class. You have class, you're not. It's
not that's very nice. But Mike, everyone loves Marina. You
see everyone loves Marina. What's not to love about Marina?

(01:13:59):
Mike ree crocs. Check out the US class action A
Kroc class action, a craction. It's only on a Friday.
I find that stuff amusing. Really, two very successful airlines, Mike,
Emirates and Singapore never changed the plane, Libery never changed
the uniform. Listens there. I think that's true. Actually, isn't

(01:14:20):
it when you think about it. You know what's on
the shop windows one thing, but it's what's behind the
shop window and behind the counter that recounts. Don't you
reckon Clive Palmer? I watched him this week, just so funny. Anyways,
he's back with another political party for the pending election.
We'll look at this and a whole bunch of other
stuff with our good mate Murray Olds after the News,
which is next to us talk said.

Speaker 1 (01:14:42):
News, opinion and everything in between. The Mike Hosking breakfast
with the range Rover, the LA designed to intrigue and
use talks.

Speaker 3 (01:14:51):
Dead be Mike, I'm with you and Marino. That was
very entertaining. Thank you, Cares. Mike kesh Bettel confirmed as
FBI director. You've got the number on front of me,
fifty one forty nine. Collins didn't go with them. They've
got three to move, so she went the other day.
McConnell didn't. Who was mcconnall didn't go for he was
the other guy got confirmed just the other day. McConnell

(01:15:13):
refused to. Doesn't really matter. So they seem to lose
one Republican vote each time there's a confirmation. No, it
was RFK, No it was RFK. McConnel couldn't live with RFK,
so Collins couldn't live with Patel Butt anyway. Fifty one
forty nine winner twenty three minutes away from.

Speaker 8 (01:15:26):
Nine International correspondence with ends and eye insurance. Peace of
mind for New Zealand business.

Speaker 3 (01:15:32):
Mary Old, greeting to you, they might good morning to you.
I was just reading my copy of the Australian Woman's
Weekly this week, very very interested in getting the inside
d skinny from Jody on the wedding and it's going
to be a small and intimate affair. What a dumb
article in the sense that that didn't even spill the
details on winter it is. It'll be sometime late spring
or and summer or whatever.

Speaker 23 (01:15:51):
They They all need copy out there, They all need
copy and what bit of copy. I mean, I see
Carl Stefanovic was out there interviewing Dutton for the sixty
Minutes piece and Sol and Jody get the Women's Weekly.

Speaker 3 (01:16:08):
The he was celebrating twenty years on the Today Show
last week or the week before or something like that.

Speaker 2 (01:16:14):
Yeah, yeah, do you exit around long time?

Speaker 10 (01:16:17):
Yeah?

Speaker 3 (01:16:17):
Exactly while I've got you.

Speaker 20 (01:16:21):
Just the Do you still work for two GB?

Speaker 3 (01:16:24):
Yes, I do, Yep, yep, the reading yesterday Singo Singleton.
Why would nine be looking to unload the radio assets
when they've got a newspaper and we all know the
future of newspapers, and they've got a free to wear
television channel and we all know the future of free
to wear television channels. When they've got a radio group

(01:16:44):
of assets, and we know how well radio is doing,
why would they unload them?

Speaker 10 (01:16:48):
Oh?

Speaker 2 (01:16:49):
I don't think radio is doing as well as they want.
I mean, is that your faint m mark there we are?

Speaker 23 (01:16:53):
I mean, you know, if they had me at twenty
four to seven the joint regards with the roof. Look,
the fact of the matter is it's really I think
nine looks at the radio business, the radio arm of
the business, and thinks, well, it's the full stuff at
the bottom of the question mark, because there are many
question marks. They have a traditional media over here, Fridaware Telly.
Of course you've got you know, the old Masthead newspapers,
the heritage brands like the Age, the Sidney Morning Herald

(01:17:16):
and the Financial Review.

Speaker 2 (01:17:18):
Those numbers aren't as strong as there were three four.

Speaker 23 (01:17:21):
Five years ago. I mean, people are getting his stuff online.
So I'm much sure exactly the strategy for nine. They've
got a whole bunch of new people coming in. It's
going to be fascinating to see which way they go.

Speaker 3 (01:17:30):
Well, because itally in this country. The television's in the
world of pain newspapers and the world of pain radio
is booming in this country because you're on mate.

Speaker 10 (01:17:39):
Yeah, I know, I.

Speaker 3 (01:17:40):
Didn't want to say that, Murray, but you know sometimes
counter boy with the facts.

Speaker 2 (01:17:46):
Very good.

Speaker 3 (01:17:46):
Anyway, So back to Welbo. Sorry are we thinking? April
twelve and what's I mean? The poles look like crap
and Michelle came to his rescue to a little bit
but a quarter points hardly an election winners.

Speaker 2 (01:17:57):
Well, it's about sentiment.

Speaker 23 (01:17:59):
It's not going to win the election, no, but It's
about sentiment and if people are out there struggling as
they have been for a long time, and they can
see that quarter of one percentage point to rate drop
in the official cash rate, the banks that they're going
to pass it on immediately and in the big skiff
you've got a million dollar mortgage, it is nickel and dime.
You're right, But it's just that sentiment and that's what
Albaneze is hoping will carry them over the line in

(01:18:20):
the election because the polls are pointing to a Dutton
minority government. The latest News poll, Mike, where am i
Here's got some Just bear with me with a couple
of figures. Labour's primary vote right, that's the number of
people say I will vote Labor. It's stuck on an
equal record low of thirty one percent. They got thirty
two and a half in twenty twenty two.

Speaker 2 (01:18:40):
The coalition. Where are we here?

Speaker 23 (01:18:43):
The Coalition's gone down by one percent but still at
thirty eight percent. So that's an election winning lead, but
not enough seats going Dutton's way to form a majority government.

Speaker 3 (01:18:52):
People have got to understand, because no one understands you
dumb preferential system. But what they've got to understand is
they need they need an eighteen seat grab and no
one thinks they're going to get it, do they.

Speaker 2 (01:19:04):
Well it's such a huge ask.

Speaker 23 (01:19:06):
And don't forget no first term government's been kicked out
over here since nineteen thirty one, so history's against Peter Dutton.
Having said that, he has been a remarkable campaigner. He's
taken you know, the all the notes from the Donald
Trump and Tony Abbott playbook and he's just out there,
just cracking on and.

Speaker 3 (01:19:24):
Still boring those I was watching he was doing a
Jewish interview yesterday. There was a sort of a Jewish gathering.
I was watching it on Sky and I mean, god,
he's flat. I mean someone should be sticking a rocket
up on him. You know, he's saying the right things.

Speaker 10 (01:19:36):
He just.

Speaker 3 (01:19:41):
Mate just like wake up anyway. But the point being,
it'll be a minority. And this is where it'll get
interesting for you. Because we have MMP and so we
got a bunch of bunch of parties running the country.
You're going to have a bunch of punch parties running
the country. Presumably the Teals, the Greens, maybe and Labor.

Speaker 23 (01:19:58):
It depends how many independent to left because there's no
way known the Teals will deal with Peter Dutton. There's
no way known the Greens will. They look at Dutton
as political kryptonite.

Speaker 3 (01:20:09):
I mean, Melbourne's is gonna win. He's gonna lose, but
he's gonna win. He'll be able to stitch together a
minority government.

Speaker 23 (01:20:16):
Pardon yeah, well, yeah, that's right. And you know you've
got people like Bob Katter whose hat's always been on
too tight. He's from Queensland, the same as Peter Dutton.
And you know, you just imagine, don't you. If Katty
gets back and he's very popular up in his electric
and far North Queensland, he will definitely be in the
Dutton camp.

Speaker 2 (01:20:32):
But it won't be enough.

Speaker 23 (01:20:33):
No, he needs eighteen seats, as you say, and on
these figures he'll get maybe eight or nine.

Speaker 3 (01:20:37):
I watched Palmer do his life thing the other day.
Happen to be watching it when it was on the
woman who's running the party. I assume her name was Sharon,
and we are going to do that, and I thought
the anyway she stood aside and then she goes Now
we've got time for some questions, but only four or
five because I've got a plane to catch to the hunter,
and I thought, here we goes. So anyway, none of
the questions were for her, and they all ask Palmer. Palmer, actually,

(01:21:00):
to my mind, makes an element of sense if you
believe in that Trump esque style of politics, because he
seems sort of affable, articulate, you know, and rich, Yeah,
very rich, because he's spending nineteen minutes. God, I know,
but ninety million dollars he's going to spend to do what.

Speaker 23 (01:21:16):
Well, to try and get one or two people from
his party up and will I just can't see that happening.

Speaker 2 (01:21:20):
I mean, he's just regarded as a joke, a rich joke.

Speaker 3 (01:21:24):
Ninety million dollars for no particular result. That seems weird.

Speaker 23 (01:21:28):
Oh he is a weird guy. I mean, look when
he spent last election, he got weird. One seat one
seat and that guy he wears a tinfoil hat. I
swear to goodness he wouldn't go to the shop for milk.
He'd come back with a loaf of bread. Honest to god,
I promise.

Speaker 3 (01:21:41):
Tell you what this way. Ella's steel thing fascinates me
because we lost a mill a couple of weeks ago
in this country two undred and thirty jobs. Small town.
We got a conservative government, they're never going to buy it.
But what Melanowskis has done, backed up presumably by Elbow,
to take over the steel mill to save the jobs.
Would he have done it if it wasn't election year?

Speaker 23 (01:22:00):
Good question, but I think yes because look the key
takeaway from me from that news conference that Albaneze stood up.
He said, we cannot just be a place where we
dig stuff up out of the ground and ship it
off shore. We have to have a manufacturing industry of
some sort. And you know it's a massive money spinner
steel aliuminium as well, notwithstanding Donald Trump's threats to hit

(01:22:23):
US with tariffs. So two point four billion dollars, eleven
hundred direct jobs in Whyala. You've got to town there
of twenty two thousand people, and it makes the bulk
I think seventy five percent of Australian steel. It's got
to be kept going otherwise you're going to have a
big black hole at the top of the golf, the
Spencer Golf, and the lights will go out in Whyala
and they won't be turned on again.

Speaker 3 (01:22:43):
But the problem, the problem is that I know what
you're saying, But the problem is that once you sit
the president, every small town in Australia is going to go, well,
you bought Whyala, Why an't you buying us?

Speaker 23 (01:22:53):
No, there's a special case with Whaler because it is,
according to alban Easy, it's a critical industry. Steel make
think you have to have some capacity to make high
end steel and apparently when the joint is working well,
the workforce there is.

Speaker 2 (01:23:07):
Second to none.

Speaker 23 (01:23:08):
They are the best in the business and it's a
massive money spinder for Australia.

Speaker 2 (01:23:11):
That's why almen Easy yet to come in. Did he
do it because the election? It wouldn't hurt, would it.

Speaker 3 (01:23:15):
But I'm not sure you're worried about the Chinese ships
off you're sure?

Speaker 23 (01:23:19):
Well, you know if they come cruising past to be
a cross opposite opposite your palatial mansion next week, seeing
what you're having for breakfast.

Speaker 2 (01:23:27):
I mean, they just do this stuff. They're allowed to.
They can come past.

Speaker 23 (01:23:31):
We have no idea how sophisticated these things are, but
you imagine China makes good, cheap stuff. I'm sure they
can knock over a couple of radar things that can look.

Speaker 2 (01:23:41):
In and see what we're doing.

Speaker 3 (01:23:42):
I gotta go. But do you think Sky's scumba is
going to get his photo album back? And if you
lost your photo album and it ended up on TikTok,
would you want it back?

Speaker 2 (01:23:53):
I mean, you know, he may have been photoshopped and
all sorts of positions.

Speaker 3 (01:23:58):
Hadn't thought about it that way, Murray, That's why you're
a rating success at two GB go well, mate, murrayots
it's fourteenth away from nine.

Speaker 1 (01:24:06):
The Hike Asking Breakfast Full Show podcast on iHeartRadio.

Speaker 4 (01:24:11):
Howard By News talks.

Speaker 3 (01:24:12):
At B just quickly eleven away from nine ACO, which
we didn't have time for. But Mike Burgess, who I
got a lot of time for ACOS the spy agency
in Australia, and he speaks publicly and that's what I
like about him. And you don't hear enough from the
spooks in this country because I'm sure they know some
fantastic stuff that they never tell us about. Anyway, Burgess

(01:24:32):
spills all of it. He says five major terra plots
were foiled in the past year. Australia's never confronted so
many serious national security threats at once, unprecedented step off
to classifying the spy agency's security outlook. At least three
countries had plotted to physically harm people in Australia. The
next five years will be more volatile and dangerous than

(01:24:53):
the first half of the decade. He feared the attacks
of the Jewish community had not yet plateaued. Last year
lifted the nexttional terror level from possible to probable. Defense
personnel a being relentlessly targeted by foreign spies. Australia's entered
a period of strategic surprise and security fragility. Now wouldn't
you want to I biture that's the same here and
they just don't say so. Next thing out of Australia.

(01:25:15):
Just to remind you before you leave the country to
go to Australia thinking the life is going to be
so much better. Very good piece in the Herald yesterday
in Sydney life headline life is a productivity highway and
Australia stuck in second year. So we're talking about productivity
yesterday with the Reserve Bank Governor Adrian Alora says productivity
is a major problem. We've got to get our act together.
So we look at Australia and we think they're so
much better, they're not when it comes to the economic freeway,

(01:25:37):
this nation and most others are traveling way too slowly.
We've become a Volkswagen bus, as some fly pasted in
the Lamborghini Hurricanes. United States, Germany, Belgium, Spain of all
improved their productivity levels over the past couple of years,
just as Australia's rate's gone backwards without improvements and productivity
living standards stand still. So that's well worth reading. So
if you think Australia's flash, it ain't in terms of productivity.

(01:25:59):
So their problems are our Our problems are their problems.
Nine away from nine the.

Speaker 1 (01:26:03):
My casting breakfast with a Vita Retirement Communities News togs had.

Speaker 3 (01:26:07):
Be feeling this on the fly because it's just been
handed to me. Fonterra update this morning. Their forecast enings
range of forty to sixty cents to share strong first half,
currently forecasting a twenty four to twenty five farm gate
of ten they're still holding to that revises forecast collections
up to fifteen hundred and ten million kiler grams. So

(01:26:27):
I think that's all I can give you. Forty to
sixty percent. Skies just come in as in TV bit
soft little bit soft. Let me give you a couple
of numbers. Several one off items have masked a positive
underlying performance. That's their line, not mine. Revenue at three
eighty five or two percent down chun levels on customers
have reduced a little bit of softness in the box revenues.

(01:26:51):
That's been kind of offset partially by streaming net profit
after tacks of ten point nine reflecting the waiting of
costs the first half, they've got a bit of cash.
They've reviewed their full year guidance down flat, but they're
still profitable. And there's not many people in the media
landscape that can say that these days this place can

(01:27:13):
and sky can stuff claimed to be but who would
know five minutes away from nine.

Speaker 4 (01:27:17):
Trending now with Chemist Warehouse stop paying too much.

Speaker 3 (01:27:23):
So we've had the news this week that Kentucky Fried
Chicken are moving from Kentucky. We've also got the news
this morning that Popeyes have just announced their first Edinburgh location.
They've just opened in England Manchester upfit called Miami Crispy.
They've also gone viral for its philet tower. Burger residents
not really happy. A lot of parking issues in that
part of the world a lot of rampant littering. Who

(01:27:45):
would have thought in Manchester they've gone and opened their
fourth store in Rochdale. You really got to see Rochdale
to believe it. If you've never been to Rochdale, you
haven't lived anyway. This particular consumer affairs journalist reckons you've
got the answer.

Speaker 24 (01:27:56):
The restaurant market in the UK is falling, but specific
fried Chicken up twelve percent. The number of outlets Fried
Chicken is unstoppable, and it's for a number of reasons,
mostly economics, and chicken is very cheap. It's significantly cheaper
than it used to be a generation or two ago.
The UK arm of Wingstop, which has only been going

(01:28:18):
a couple of years, they've got fifty eight outlets. They
want to open another twenty just before Christmas.

Speaker 4 (01:28:23):
That got sold to.

Speaker 24 (01:28:24):
An American private equity company for four hundred million pounds.
And Popeye's is also expanding very quickly. I mean, the
genius of chicken is that it's quite bland. You can
do anything with it. So pop I say they're in
the flavor business.

Speaker 3 (01:28:41):
Well, he's an incredible consumer fears reporter and he's quite right.
Chicken is cheap, and if you gently pan fry it
and slice it thinly over summarugula, it's delicious. Where it
goes wrong is when you dip it in fat that
you've cooked like thousand other birds, and then feed it
to some slab who pays your two pounds fifty for it.

Speaker 20 (01:28:58):
Why you're obviously not in flavored business.

Speaker 3 (01:29:00):
May No, I'm not, am I a snob?

Speaker 20 (01:29:02):
And sorry, fried chicken is unstoppable, mate, it's.

Speaker 3 (01:29:06):
Fried chickens unswer. I say that quite often. No one
believes me, but I'm the consumer, appears Reporter Supercars as
I see that's back. We've got a little bit of
we've got chiefs crusaders, chiefs crusaders.

Speaker 20 (01:29:17):
And I think that's a full on conclusion. We will
know it's going to happen.

Speaker 3 (01:29:19):
There exactly right, Glynn. And so don't be too depressed
on Monday when we talk about it. Anyway, you have
a no matter what you're doing this weekend, you have
fun and we'll see your Monday as always. Happy Days.

Speaker 1 (01:29:38):
For more from the Mic Asking Breakfast, listen live to
news talks there'd be from six am weekdays, or follow
the podcast on iHeartRadio

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