Full Show Podcast: 18 July 2024

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Setting the news agenda and digging into the issues. The
Mic Hosking breakfast with Bailey's Real Estate doing real estate
differently since nineteen seventy three, news tog said, been the day.

Speaker 2 (00:12):
Stephen Joyce on what the inflation figure means for the
right cuts in our mortgagees. David Seymour tells us the
government's already working on next year's budget. Greg Foran tells
us what the ComCom report on the auphaned airport charges
means for the cost of a ticket Electra a Kiwi.
They stopped taking customers because the power market's a mess.
Amy Shark is in presign in a chat after late
Joe mckennon's in Rome, Rod Liddle does the UK for

(00:34):
us as well. Pasky, Yes, buee morning, seven past six.
Welcome to it now. In a world where many are
wondering what has changed, they can tell you something for
nothing this morning, what hasn't changed? Night follows day. The
US President, in a move I assumed design to take
the temperature down as he requested from the Oval Office
on Monday, said that his term putting a bullseye putting

(00:54):
a bullseye on Trump was a mistake. I didn't see
it as a mistake. Of course, what it was was
at worst a clumsy use of words. For all the
words got microscopic revision post the assassination attempt on Saturday.
Of course, no one in their right mind surely would
have thought Biden was meaning bullseye as in shoot him,
as opposed to bullseye as in focus or hone in
on him. Mind you, a lot of people aren't in

(01:15):
their right minds these days, whether they're the ones on
the roofs with guns or on social media drumming up
as much conspiracy as they possibly can. I honestly believe
my decision many years ago to not be on social
media serve me very very well. It's a cesspit of
misery and madness. But back to reality. The speech Trump
will give tomorrow night at that convention is apparently different
to the one he thought he was going to give.
It will allegedly unite America, if not the world. The

(01:39):
bullets certainly didn't piers his ego. The tone from the
White House and the Democrats generally has been toned down
as per request, but given night follows day, it won't last.
None of this will last. A president from the Oval office.
That's not you, nor is a vague explanation come plea
from higher ups who try to say something useful when
something like Butler happens. America is besotted with guns, and

(02:02):
they shoot each other a lot, and there is no
talking them down or changing their minds or justifying their actions.
So all the President can do is say what Biden
and all the others before them said, which isn't a lot,
Which means in time the language will revert, the mood
will revert, and night will follow day. This, as they say,
is a false dawn.

Speaker 1 (02:24):
News of the world in ninety seconds.

Speaker 2 (02:26):
No here we wait to have been out overnight on
both sides of the Atlantic winter. We start well with
King He opened the British Parliament, gave Labour's view of
the world.

Speaker 3 (02:32):
My government will seek a new partnership with both business
and working people and help the country move on from
the recent cost of living challenges by prioritizing wealth creation
for all communities.

Speaker 2 (02:46):
How the new Prime Minister gave Labours view of the world.

Speaker 4 (02:49):
Service is a stronger bond than political self interest. That
is what country first means. The only way we can
restore trust and the reason this gopment of Service was elected.

Speaker 2 (03:03):
The Tories tried the old hold on.

Speaker 5 (03:04):
We did a bit of this unlike that note where
we came in and it said there's no money left.
Inflation's now back down to two percent, having been eleven
unemployments around four percent, one of its lowest rates in history.

Speaker 2 (03:17):
The insights, I Joe's left the basement to give a speech.

Speaker 6 (03:19):
It's because of you, and I'm president of Kambela Harrison's
vice president. And by the way, she's only a great
vice president. She could be president in the United States.

Speaker 2 (03:35):
Camela doesn't seem though, to have got the Biden memo
about cooling the temperature.

Speaker 7 (03:39):
Hump looked for someone he knew would be a rubber
stamp for his extreme agenda.

Speaker 8 (03:43):
And make no mistake, jd Vance will be loyal only
to Trump, not to our country.

Speaker 2 (03:49):
Then back and Milwaukee. The convention four is full of
people like this.

Speaker 8 (03:53):
He's going to prevent World War three.

Speaker 9 (03:54):
He's a master negotiator.

Speaker 8 (03:57):
He's the only one hasn't hasn't been in Israel put
us through a war. You know that, A handle children,
and that's what the leaders of the of the European world.

Speaker 2 (04:09):
Finally, yeah, where he's still going. Finally, the trend of
spirits taking over from wine seeing he's further cemented today
with news that Perano Rica is selling most of its
wine brands to focus more on Champaigne and premier spirits
wine consumption. By the ways, that the twenty seven year low,
this is globally a Perano recounts seeing the seven percent
drop in there sales, it's news of the world in
ninety seconds. By the way, on the labor inauguration and

(04:32):
opening of the Parliament and all of that, the Great
British Pound, the Great British Pound are reached a year
long high, so we'll have more of that in the moment.
And by the way, the inflation number came in for
them two percent, stayed at two percent, so they are
factoring in a cut in August. More shortly twelve past.

Speaker 1 (04:47):
Six, the Myke costing breakfast.

Speaker 2 (04:50):
I'm pretty sure I've lost count, but the French Prime
Minister Gabriella Tel has resigned again. Difference being this time
that Macron's actually accepted it. I think he's resigned now
three times, could be wrong, could just be two, but anyway,
he did, then he didn't, then he did then he
didn't know he has and he's going French constitution. By
the way, they don't have a government. The French constitution
states that the president appoints of a new prime minister,

(05:11):
doesn't detail how that happens or what the time frame is.
And until they sought out a government, which they don't
have by the way, the old government carries on. And
then they're going to meet tomorrow to elect the President
of the National Assembly. They need two votes to do that,
unless the two votes go wrong, then they need three votes.
And you wonder why France is a problem. Fifteen pass

(05:33):
six from vedam UN's management. Bridg Smith, good morning, Good
morning to talk about the British inflation is just a moment.
But our inflation was okay.

Speaker 10 (05:42):
Yeah, great news there, Mike, say, you know right at
the botom meaning of expectations. Actually, so three point three
percent for the green quarter falls and seen it says,
down from four percent in March. That's that's less than
half of the peak of seven point three percent twenty
two in on a quarterly basis, that fell to point
four percent from point six percent in March.

Speaker 11 (06:00):
Yeah.

Speaker 10 (06:00):
The other good news, Mic, it's also below the three
point six percent that the abn Z had pencilvan So
you perhaps those looking for a glimmer of positivity around
cost of living pressures, you know, we can perhaps look
forward to a rate cap before too long. I mean
it wasn't that long ago. People were sort of saying
it's going to be next year. I mean it could
be next month. So we'll see about that. Investors like
that potential scenario new Zeald stock market that had a

(06:22):
twenty nine month high use today just we're pointing out
yet three point three there's still above the abn Z
one to three percent range. But you don't have to
wait for it too. It's pretty close and they have
to wait for it to to get beneath that. It's
heading in the right direction. There are to elements that
are sticking right. Tradeable inflation that's down too point three percent,
that's good, it's off sure stuff, but non tradable domestic

(06:44):
still very persistent. Five point four percent will be it
down from five point eight percent in March. So you
look at things like rent four point eight percent, inflation,
their rates nine point six percent, cost of building a
house that's still running at three percent, and the insurance
premiums are up some fourteen percent, and it's the same
as the March quarter, but that's actually nearly double the
previous peak back in two thousand and nine. So looks

(07:05):
still plenty of our pain points of inflation, right, But yeah,
good news at the headline level window, and maybe we'll
get their rate cup for.

Speaker 2 (07:10):
Forty long and then we go to Britain. I'm assuming
the Bank of England have got to go next month,
don't they.

Speaker 10 (07:15):
It looks pretty likely. So there's just one element of
concern here, and that's really mainly on the services sector
inflation side, So that was still quite persistent at the
latest print, that five point seven percent. That's probably the
only thing holding the Bank of England back. But yeah,
they consumed price indexum in the UK at two percent
annually last month and then you compare that to the
peak of eleven percent October between twenty two. Good news

(07:38):
as well, that Taylor Swift effect we've talked about before, Mike,
that didn't give things a bump. Restaurant hotel price status
up strongly though, But food and beverage inflation one and
a half percent. You compare it to a year ago,
it was seventeen point four percent, So lots of things
are falling. Cour CPI that was three and a half
percent the twelve months of June that was also unchanged.
So yeah, but of a lineball corps, I think, and
where they cut rates next month or perhaps in September.

Speaker 2 (08:02):
All right, now, talk to me about chip stocks and
Trump's role in this and his comments about China, Taiwan
and so on.

Speaker 12 (08:08):
Yeah.

Speaker 10 (08:08):
Hey, well, so we talked about rotation, you said we
and also about the Trump effect, and certainly both for
in evidence overnight. So you look at the chip stocks,
I mean, they've been absolutely better today. So in the
video down six and a half percent. Dutch firm ACMIL
they make semiconductor equipment, they twelve percent in Europe. So
it's a couple of things.

Speaker 11 (08:25):
This Trump.

Speaker 10 (08:26):
He's sort of said that Taiwan should pay the US
for defense. He said that Taiwan took about one hundred
percent of America's semi conductive business. So obviously, you know
trade things are going to sort of pick up again
if he gets in. Also, his running mate jd Vance,
he has similar views around China. He'e in favor of tariffs,
but it's also observed a political football and You've got
Biden as well looking to make moves here, so there's

(08:47):
suggestions that they're going to make all His administration is
looking to use the foreign direct product role. Will should
say to put controls on foreign made products even if
they use the smallest amount of American tech. So he
always comments. Drove the semiconductor stocks down. Tail one semi
conductor that was down seven percent as well, and ACML
was down despite pretty good results, but half of their

(09:09):
sales come from China. Meanwhile, with a rotation old fashion
names doing quite well. You know healthcare that was up
four percent. Finance results yesterday, Jane Johnson. Johnson also had
a good building to speak, and gold stocks pushing up
as well.

Speaker 2 (09:21):
Okay, numbers please, So the down.

Speaker 10 (09:23):
Up one hundred ninety points forty one one four five,
So that's a new record. Nare's that year west stay
since twenty twenty two. I think it is the down
two point eight percent seventeen nine nine nine, A sm
P five hundred down one point three percent as well
for two one hundred up point three percent on the
inflation data, NICO down point four percent, a SX two
hundred a good day at point seven percent eighth five seven.

(09:44):
We're to twenty month high on the ends. Fifty is
mentioned up point eight eight percent one of seven points high,
twelve two nine two goal down ten dollars twenty and
fifty seven an ounce, well up a couple of bucks,
ay two spots, seventy eight currency markets key, we actually
high across the board, sixty point eight against the US,
ninety point three against the A dollar, and forty six
points seven against the stealing.

Speaker 2 (10:04):
Good on you mate, have a good time, catch up tomorrow.
Appreciate it. Greg Smith, Devon Funds Management OSKY. Addie Das
they're doing okay. Not everyone in the leisure where the
leisure where market is, but Addie Das appear to. They've
hiked their full year guidance. This is globally better than expected.
Second quarter eleven percent increase in sales. They sold about
ten billion dollars worth of stuff globally. That excludes yeasy

(10:25):
and you know what, you don't mention your easy anyway.
Their gross margin reached fifty percent, So every time you
buy a little bit of Addie Das, just remember the
margin there is fifty percent. Six twenty. You're at newstalks, theb.

Speaker 1 (10:44):
The mic Hosking breakfast.

Speaker 2 (10:45):
The Biden Troublers back shift Adam has come out publicly.
It's probably the highest profile so far. To go, mate,
you've got to go and work you through that in
the moment. But new report this morning from the Secret
Service the FBI are the parents of crooks called the
cops to say he was missing. This is a new report.
He was at the rally three hours before he started shooting,

(11:08):
told his boss he needed the day off on the Saturday.
Father told law enforcement he assumed his son had gone
to the shooting range at the Clearton Sportsman's Club to
practice with his rifle, would be back about one o'clock.
As the afternoon went on, they became concerned. Why would
you become concerned about a twenty two year old when
they thought he was going to come back at one
and by two or three o'clock suddenly he wasn't back.

(11:31):
You don't ring the police when you got a twenty
two or twenty three year old who's a couple of
hours late. There's a clue spotted at the rally at
the security screening area, tried to pass through metal detector
with a range find A range finder wouldn't have done anything.
He was at that point though, on the Secret Service's radar.

(11:51):
They took a photo of them. He then collected the rifle,
and this is where it all seems to have gone
wrong from his car. The car also contained bullok proofest
and two explosive devices. About forty minutes before the shooting,
he was back at the Secret Service radar. They had
a photo of them at that point six to eleven
local time, ten past ten in the morning our time,
took up position on the roof. This is where it

(12:12):
gets really bad for the Secret Service, because this woman
Cheetle who runs it has been busy explaining that the
slope of the roof was the problem and they didn't
want anybody on that sort of slope. Go look, if
you haven't followed this closely enough, go look at the
slope of that roof and ask yourself, would I be
happy with my grandmother being on it? And the answer
is yes. And this is where ultimately they are going

(12:35):
to be found horrifically wanting sex twenty five.

Speaker 7 (12:38):
Trending Now Queen Chemist ware House the home of Big
Brand fightamens mere time.

Speaker 2 (12:43):
Let's head back to the San Ribon where we find
the Paris Mayor Ann Hildago, who hasn't resigned, and about
one hundred of her best friends taking a dip to
show that the river is clear as a bell.

Speaker 13 (12:54):
This dream, No, it's real, And after it again we
have a swimming and you can it is so.

Speaker 2 (13:11):
Beautiful to ye, she's full of it, doesn't she?

Speaker 12 (13:14):
Anyway?

Speaker 2 (13:14):
I seen in senior Paris correspondent Melissa Bell, she was
one of the ones who actually jumped in as well,
not quite as glowing.

Speaker 13 (13:20):
I actually said, I'm clinging onto the side this boot
because the current actually in the sand is so strong
that if I don't, I'll quickly be swept downstream Like
this would have been impossibly here a couple of weeks ago.

Speaker 14 (13:33):
For today.

Speaker 15 (13:34):
It's actually really not as smugly as I thought he
would be, and feels not quite clean.

Speaker 2 (13:41):
But why is she so out of breath on the mirror?
Isn't what's going on there? So at the stage it's
usable opening ceremony takes place on the river if the
currents aren't too strong, trieth one's going to go ahead
with the swimming league if there's no rain. Now the
problem with the if there's no rain, it's not run
this event until the thirty or thirty first of the month,
in other words, Cup weeks away. So at this particular

(14:01):
point in time they got no clue what the weather's
going to be. Organizers say, look, they've got a couple
of days up this leave to postpone that the forecast
is no good. But as we heard yesterday from Nigel Avery,
our shift mission, if they postponed the triathlon becomes a
duo afflon and for the life of me, at that level,
I just cannot understand how they've been allowed to get
away with that, because it is the most ridiculous thing

(14:22):
in the world. It's almost like the Secret Service are
running the Olympics. So Greg forum he'll be happy because
the Commerce Commission, who are fantastically busy at the moment.
Not that they're telling us we can't have a merger
in the grocery department. They're telling Auckland the airport these
charges are too much. I mean, I hope they're on
overtime and working saturdays. Anyway, they said that the airport

(14:43):
are wrong in New Zealand. Will be happy about this
on our behalf because the consumer doesn't have to pay more.
Griggs with us shortly, you're.

Speaker 1 (14:50):
Trusted Hoe for News for entertainment's opinion and Mike the
my Hosking breakfast with a Veda retirement Communities life.

Speaker 14 (14:59):
Your way is.

Speaker 2 (15:01):
Adam shiff If Biden thought is he too old to
run for president? Problem, we've gone away. It hasn't. Adam
Shipped this morning has come out and said, you know
the usual things they say. He's been one of the
most consequential presidents in our nation's history. Is lifetime of
service as senator and vice president and now as president
has made our nation better. But he needs to set aside.
And then there's this letter circulating nineteen Democrats from Capitol Hill.

(15:22):
So far I've signed what they're basically wanting. The DNC
is looking to hold what they call a virtual role call.
This is unprecedented, apparently, a virtual role call being hey, guys,
what do we reckon? And the fear is that if
they hold that virtual role call, it's a disaster. So
it's stifling debate. They're arguing prematurely, shutting down any possible
change in the Democratic ticket. Presumably they want to take

(15:43):
it to the convention in Chicago and make it a
contested convention. So that's unfolding as we speak twenty three
to seven. Joe McKenna and Italy in a couple of
moments for you meantime back here, the COMMU is commissioned
to enter the debate for the second time of the week. Basically,
first the super make a merger, of course they're not
convinced about that, and now the Aukland Airport and their charges,
they're not convinced about that either. A draft investigations found

(16:06):
the airport's returns were an excess of what was reasonable.
The New Zealand Chief Executive Greg Forunes with us on
this Greg morning. Is this a win for the airline?

Speaker 16 (16:16):
It's a small part of it, mate, you know, it's
dealing with the return that the airport get on priced
aeronautical activities. So we please to Commerce come out with that.
We still think this more regulatory change required.

Speaker 2 (16:30):
Will it come.

Speaker 16 (16:33):
We're going to push and continue to push hard on this,
and we're going to get on with Andrew Bailey who's
the Commerce Minister, and get him to try and get
some regulatory change in there.

Speaker 2 (16:45):
Do you think see Bailey's the government The Commerce Commission
is separate from the Commers Commission's point of view, Does
this send the message to Auckland Airport that they're out
of line? Auckland Airport will get that.

Speaker 16 (16:58):
Well, of course it's the first time and the Commerce
Commission have sent this message. Last time we had a
price setting event, there was a fifteen million dollar view
that they were over the top, and this time it's
two hundred million. So you know, this is interesting. But
all what's really doing is saying that in terms of

(17:18):
your aeronautical activities, we think the return you're getting on
those is too much. What we're looking for is for
some activity that says how much you spending to begin with.
And it's not that we don't think so money shouldn't
be spent, No, it's how.

Speaker 2 (17:33):
Much is do you have any sympathy for them in
the sense that the fact that their monopolistic isn't really
their fault and they want to do some stuff another
business might want to do, and good on them for
doing it. But all these people like you, like the
Commerce Commission, like the government, et cetera, are constraining them
to a degree and in normal circumstances that would be
seen as unfair.

Speaker 16 (17:54):
Basically I would agree with that mark. I don't think
this is an issue that Auckland Airport, you know, are
doing anything that a normal business wouldn't do. Our issue
is that the regulations aren't set at the right level
for this. And by the way, it's not any New
Zealand thing where we're seeing other airlines domestic air lines

(18:15):
putting their hands up. It's just that obviously we're the
larger player, so we tend to get more of the voice.
But everyone's feeling it. Auckland Airport are doing what Auckland
Airport would do. It's the regulations here that need to change,
and it's Andrew Bailey who can help make that happen.

Speaker 2 (18:31):
While I've got you tourism mired at eighty percent of
what it once was. Is anybody actually concerned about this
in this country or not?

Speaker 12 (18:39):
Really?

Speaker 14 (18:41):
I am now.

Speaker 16 (18:42):
I know my team a and when you have a
look at the numbers, there's one area in particular that
we're all in short and that happens to be trained.
So if we could get the numbers in China backup,
and some of the stats I was looking at Mike
would indicate that they're down about forty six per on
where they were twenty nineteen and they were our second

(19:05):
largest tourism market. If we fix that, we actually go
a long way to filling the hole this is.

Speaker 2 (19:12):
But part of the problem with that is that it's
not our fault that China doesn't want to travel and
where they are traveling. I understand they travel domestically and
maybe they're going to Asia like Singapore, Indonesia, et cetera.
Is that our problem? Do we have an image problem
beyond China?

Speaker 16 (19:27):
I would say that, like a lot of problems, there's
a lot of issues that go into them. Possibly China
are trying to fuel their domestic economy, so you know,
are a little bit hesitant to have people leave. What
I would tell you is it traffic between the US
and China, in terms of their travel, is still considerably suppressed.
I think they're still operating at just sixteen percent of

(19:49):
pre COVID, so people there will want to travel. We
haven't made it as easy as what we could. You
know that these are office is now no longer open evasion,
so that's got to be handled. Here in New Zealand
is a translation fee that has now been applied to it.
So every time you stick to friction, that makes it
more difficult for people to do it. What I'll also

(20:12):
tell you is that is I think something like thirty
two flights between China and New Zealand every single week,
so there's no shortage of capacity there. We've got to
make it really easy for those people to come here
and enjoy a great holiday in New Zealand.

Speaker 2 (20:28):
Well, so I appreciate your time is always great for
him in New Zealand, CEO eighteen minutes away from seven.
Last night we watch Hillbilly Elergy on Netflix. Interesting story
and background to Jadie Vance in his own words, very
different upbringing to Trump. I must watch for anyone interested
in American politics. Good recommendation. Neil Having said all of that,
what was smart about Trump and what he's done the
same way did it with Pence. Pence was the religious

(20:49):
aspect of it. Trump's got all the votes he's going
to get. You're either voting for Trump or you're not
voting for Trump. Might have changed because of Saturday a
little bit, but generally speaking, then he needs somebody else.
That's way you get a woman. If you don't get
a woman, you get a guy who can talk to
the rust belt. Very good story on television last night
and can't remember rub which channel it was on. Probably
worth looking up, woman reporter, I think from ITV wandered

(21:10):
around small town Pennsylvania, the sort of thing that Bryant
used to do, the Rust Belt America. Look at the
way they live, look at their houses. Look at Butler.
You've seen Butler. You've never heard of Butler. Go look
at Butler. Look at the houses they live in, the
money they earn or don't earn, the jobs they have,
the lives they lead. And if you can get somebody
in the White House that can connect with that, that

(21:32):
will win you the presidency. Seventeen to two.

Speaker 17 (21:38):
The My Costing.

Speaker 2 (21:39):
Breakfast reminds me of that saying from Bruce Springsteen, the
gap between the American dream and theor of the American reality.
That's my territory IMF. By the way, speaking of China,
they came out and upgraded their growth forecast for both
China and indeed India. And what's interesting about that those
two countries alone account now or will account for, of

(22:01):
the growth in the entire world. India seven percent for
the year, up from six point eight, China five percent,
up from four point six fourteen two.

Speaker 17 (22:11):
International Correspondence with ends and eye insurance, peace of mind
for New Zealand business.

Speaker 2 (22:16):
Metalie Johnie Enna, Very good morning for you, good money mate.
I haven't spoken to you since you went on holiday,
have you have I? Oh, that's right, well indeed, and
you haven't spoken to me since I went on holiday,
So it's been God, has been so long, Joe since
we've spoken. How was your holiday? Out of ten?

Speaker 18 (22:30):
Way too short? I'd say seven out of ten for Croatia, Yes,
beautiful scenery, fabulous Mediterranean water or Adriatic water, very transparent,
very nice.

Speaker 15 (22:41):
Food.

Speaker 18 (22:42):
Was a little bit disappointing, I say, I think we're
still spoiled in Italy.

Speaker 2 (22:45):
Oh, good on you, well, very pleased you had a
good time. Now, Maloney, tell me about the Poles. First
of all, she seemingly can do no wrong.

Speaker 18 (22:53):
It's incredible when you think about it. I mean, she's
been in office now for a year and a half,
almost two years coming up in October, and her party,
if they had an election tomorrow, would be quite solid
at around twenty nine percent of the vote according to
the latest polls. The nearest rival is the center left
Democratic Party, the main opposition party, at around twenty three percent.

Speaker 2 (23:17):
Okay, and she I saw the eye roll. Has that
gone down well in Italy? The eye roll at NATO.

Speaker 18 (23:23):
Look, I think generated a lot more interest around the
world than inside Italy. But it's something that she's known
for and when she gets bored or angry or frustrated,
she tends to roll her eyes and it was caught
on camera at the NATO summit, went viral and created
all sorts of interest around the world.

Speaker 2 (23:40):
Okay, talk to me about the weather. I get a
daughter in Italy at the moment, she's saying thirty seven
thirty eight around the place, that's.

Speaker 18 (23:46):
Right, and even more severe in places like Sardinia and Sicily.
Today we've had some fires. Two forty five year old
firefighters lost their lives in southern Italy trying to save
a family from a fire around the Materra area. For
elderly people have died from the intense heat wave. We've

(24:07):
got fourteen cities tomorrow on red alert for the heat,
which is a warning for everyone to just take a
bit more care, and particularly elderly and vulnerable people.

Speaker 2 (24:16):
And what happens that there are droughts and you know,
things like that that we worry about in this country
in the summer when it doesn't rain.

Speaker 19 (24:22):
Yeah.

Speaker 18 (24:22):
The odd thing, Mike is we've had storms and heavy
rain in the north of the country and worsening drought,
particularly in Sicily and Coldaretti. The National Farmers Organization is
warning more than thirty thousand jobs have been lost between
Sicily and the southern region of Paulia.

Speaker 2 (24:38):
Fantastic. I'm reading the other day Barcelona. What they're doing
is standing outside the cafes and they're spraying people with
water water guns for the tourists. They hate the tourists,
and I know that Italy is inundated with tourists at
the moment. Is there angst about the tourist sect?

Speaker 18 (24:53):
There is a bit of angst. Yeah, I'm particularly with
a lack of taxis in Rome. Pockets on the subway
out of control more so than usual. One subway station
was shut down last Saturday night when two rival pickpocket
gangs started fighting with tourists. So there is this wave
of tourists that's come in. We've heard about the charge

(25:16):
in Venice for day trippers, and even the island of
Cupri has been overrun in recent days with Americans. Apparently.

Speaker 2 (25:24):
Daughter's telling me a lot of biggers at So if
you're eating on the street, a lot of biggers they
just come up and bother you over dinner or lunch
or whatever.

Speaker 18 (25:32):
Yeah, I haven't found it so much around my dinner
table at a restaurant, but certainly on the street. It's
quite common now to see beggars in front of you
on the street.

Speaker 2 (25:42):
All right, good to catch up, Joe, go well, we'll
catch up talk next to this. They appreciate it very much,
speaking of itly. By the way, if you've never seen it,
I'm sure I've recommended it about a million times. But
Stanley Tucci did it just an astonishingly good series on
CNN about a year ago. And because it was on
c and N didn't seem to go anywhere else. So
you either got it on CNN or you didn't. It's
turned up on the Living Channel, which is channel What's
what's the Living Channel's channel seventeen? I think anyway, it's

(26:06):
turned up on the Living Channel on Sky.

Speaker 20 (26:08):
And I really think that people are still dialing in
channel numbers and not just going to the on demand thing.

Speaker 2 (26:13):
And that's exactly why I said what I said, you
try and find that series on demand and you can't
because it was a C and N product that didn't
go on demand. So it is channel seven, it's channel
seventeen on my box. Just look, Sammy's nodding and he's
a what's the gen XA gen wire? A millennial?

Speaker 11 (26:34):
I think.

Speaker 2 (26:35):
Anyway, Stanley Tucci very very good of her into food
and Italy in culture. Generally, nine minutes away from sip.

Speaker 17 (26:42):
The my costume.

Speaker 1 (26:43):
Breakfast with a Vita Retirement Communities News togs had been.

Speaker 2 (26:47):
Tuci, I'm told is currently filming another series four National Geographic,
which will be uptime.

Speaker 20 (26:51):
By the way, to go to the Skygo and just
I got as far as typing in Stanley because I
couldn't even remember what the program was called, and it
immediately came out on I yeah, Skygo, which is there
on demand service.

Speaker 2 (27:04):
Oh, I see what you're saying.

Speaker 20 (27:05):
Sorry, I'm not I can't be bothered typing in numbers
for channels.

Speaker 2 (27:10):
Oh I see. So you you think typing and sky
Go or going straight to Skygo and Stanley is easier
than going one to seven.

Speaker 20 (27:18):
Yeah, you can watch on your phone, watch it on
your iPad.

Speaker 2 (27:21):
We're seeing we're seeing here this morning the Battle of
the generations.

Speaker 20 (27:24):
Aren't we so myself in a different generation than you, please.

Speaker 2 (27:29):
Defense's slightly unfortunate part, Mike. Why don't the RB and
the governess at the OCR rates after the inflation announcements
make no sense? Well, the reason is the inflation announcement
is ancient, it's months old, and the RB operate on
current data, so they set their own agenda. Basically, five
minutes away from seven.

Speaker 1 (27:48):
The in and the ouse. It's the fizz with business favor.
Take your business productivity to the next level.

Speaker 2 (27:56):
So working from home forty one percent of us. This
is a new survey up this morning done by recruiter
Robert Harf. Forty one percent of as a mandated to
be in the office five days a week forty one percent.
More employers want more people back in the office full time,
so they need to offer flexibility because of their own flexibility.
The people who don't want to be in the office game,
then they resign go elsewhere. So forty one percent are

(28:19):
mandated to be in the office full time fifteen percent,
four days a week eighteen percent, three days a week,
eight percent, two days a week, three percent, one day
a week. About giving you too many numbers, fifteen percent,
no mandate or completely flexible. Of those mandated, twenty percent
on average say they're unsatisfying with the amount of time
that they're expected to be in the office. The most

(28:41):
unsatisfied group are those who are mandated to be in
the office four days a week. Thirty three percent are unsatisfied.
Nineteen percent of people mandated for five and three days
are unsatisfied. Of those who don't like being at the office,
fifty two percent say it's because of increased cost you
got to buy your own lunch.

Speaker 13 (29:02):
Eh.

Speaker 2 (29:03):
Thirty seven percent sir, it increases stress, he e. Thirty
seven percent struggle with the work life balanced off.

Speaker 20 (29:10):
For God's say, the main reason I don't like it
is because there's this guy there keeps making these weird noises.

Speaker 2 (29:15):
Yeah, that was the other number in this. Ninety seven
percent of people hate the people they work with. That's
what it boils down to. Thank God, that's double glazing
between you and I at the moment, mate, because I'd
come through there and smack you.

Speaker 9 (29:25):
Things are tense this morning. It's not even seven o'clock.

Speaker 2 (29:28):
We haven't even begun. Stephen Joyce on what all the
CPI means and whether we're going to get a cut,
and how bugger the economy is in general? Amy Shark,
you know the name Amy Shark. She's been battling away
for years to be as successful as she is today.
So she will come in with her guitar and see
as the song after.

Speaker 1 (29:44):
Eight, the newspeakers and the personalities the big names talk
to like Costing breakfast with Jaguar, the art of performance
news tog said.

Speaker 2 (29:55):
Be seven past seven. So what do we make of
the CPI number, inflation, Whether inflation is now t trending
towards a level whereby the Reserve Bank might have to
cut and spark and a little bit of hope, maybe
some optimism back into the economy. Zero point four percent
for the three months to June was what we got annualized.
That's three point three, which was down from four. And
now the bank's are religned and thinking that the cuts
are going to come this year, not next form of

(30:16):
finance Minister Stephen Joyce, is what this very good morning
to you, by the way, to see more comments which
I'm sure you're up on. You said yesterday. We need relief.
It's about time relief and then we get the independence
of the Reserve Bank, etcetera. Is that politics or is
that good sound the economic advice? Do you reckon well?

Speaker 14 (30:31):
I think in this case probably a little bit of both.
I think we do need relief. I think the Reserve
Bank won't give the business sector as much as at
once and believes it needs, but it will start moving fairly. So.

Speaker 2 (30:46):
I think the non tradable at fire point four it's
still stuck as a stuck thing, despite the fact that
came down from fire point eight. How much can they
look through or see through this stuff versus it being
a real problem.

Speaker 14 (30:59):
It is the most important problem, if you like, if
you look across the data is a non tradable, nice
sort of goes straight to that and see, okay, what
are we doing? It was point nine for the quarter,
still a bit high, but trending in the right direction.
And I understand it was a change in approach to
something like road user charges or something which made it

(31:20):
a bit noisier then than otherwise would have been according
to the A and Z. Anyway, so it's probably it's
definitely trending down. Is it down far enough? This is
where I think the bank needs to look beyond the
beyond the data and actually take a very close look
at what's happening around particularly regional New Zealand, but also

(31:41):
in Auckland. And I think there's a real risk of overshooting.
I think they know that. But you know, the question
we're now talking about is do we get one cut
in September OCTOVID November? Probably?

Speaker 12 (31:56):
Well?

Speaker 2 (31:56):
Okay, So it's interesting to hear because the other day
was key when they you know, all of a sudden
they changed tack, didn't they. So that was that the
moment you think they got it?

Speaker 14 (32:06):
Yeah, I think they now do get it. I mean, look,
they'll be worried, sure of going too soon and unleashing
animal spirits in the housing market, for example, but it
doesn't seem to be much in the way of animal
spirits in the housing market at the moment. And I
think what will probably happen is you'll get one cut earlier,

(32:27):
maybe than we were expecting up until yesterday, and then
I suspect they might hold again to see the next
round of data because the next round of data comes
in what late October? Does that go against unless something
else happens, right?

Speaker 2 (32:42):
Does that they go against orthodoxy in the sense that
you don't cut once in hold, you cut, and then
you cut because you're confident you've done your job.

Speaker 14 (32:51):
Well, yeah, ideally, that's that's the textbook, but this is
still you know, My point is that's still on a
night edge, right, So they know they see all the
data and it's just just about there, and then they
look the other side and they look at the real economy,
and the real economy is really struggling, and it's the

(33:11):
real risk that they overshoot. So that's why I think
they might do something. I mean, what do I know,
But I think they might do start and then and
then hold them because it suits the cycle as well,
because they they have they don't come back and yeah
when the data and the data isn't available to the
end of octabers, so what do they do to their
way to the end of October and then do something

(33:32):
in November, which means they're effectively doing one and holding anyway.
So I suspect we're now debating a first cut in
October November. I don't think we'll see a point five
this year, that's my view. But what we'll do is
get a downward track. It won't be enough on its own,
but it might give some people some hope, as it should,
but we're also the other thing to watch MIC is

(33:53):
what's happening and the rest of the economy, and I
think people want to keep a COSI on things like
the global dairy auction, for example, which is now down
three times. They'll be watching that closely because that if
that keeps dropping, then they might feel the need to
go a little bit further sooner. Because it's no doubt
about it that the rural economy is in pretty tough

(34:15):
shape and the only thing that's keeping it going at
the moment is dairy prices. So you don't want to
see that fall over and then you're too late cutting exactly.

Speaker 2 (34:23):
Appreciate your expertise, Stephen Joyce, former Finance Minister, and answer
to the question what does he know? The answers he
knows a lot and that's why to keep getting him
on the program. Eleven past seven and while we wait
paradream to work out what is next and when David
Seymore was wasting no time and his role is acting
Prime Minister this week to tell us that budget twenty
twenty five is well underway, despite the fact we've only
just got past twenty twenty four couple of weeks back,

(34:44):
David Seamore's with us Morning Morning Mate. The fact you're
working on next year's budget having just got past this
year's budget. Is this part of the reminder that this
year it wasn't a one off in terms of savings
and cuts and there's more where that came from.

Speaker 21 (34:56):
Yeah, I've heard Nicholo Willis's say something like you're not
going to fix six years of trouble in one budget.
And if you just look at the basic numbers, the
government spending about one hundred and forty billion, we've said
that we're committed to only increasing by two point four
billion a year. Now, that's about one point seven percent.

(35:17):
You're going to see infation that you probably about two
in the long term. Then if you get population growth
of nearly two percent like we've had recently, well that's
a four percent increase to stay stay still. But we're
only allowing one point seven So already you've got to
get a couple of percent efficiency each year, and a

(35:39):
couple of percent means that you've got to find three
billion of savings each year just to stand still. But
in reality, we know that surprises come along. Who knows
our allies seem to want us to spend more on defense.
For example, I personally think we should, and who knows
what other pressures will come across, But just as a
starting point, you've got to save several billion a year

(36:01):
just to keep doing what you're doing.

Speaker 2 (36:03):
So you're saying, you're your quoted are saying we will
see better savings. Is that better or bigger? And how
much bigger do they get before people go to tell
you what this is too far, too much and that
becomes political.

Speaker 21 (36:15):
Well, just put it in a bit of context. Grant Robertson,
who doesn't exactly have a reputation for being a big saver,
he keeps government spending at about twenty eight to twenty
nine percent of GDP pre COVID. We're now thirty two
thirty three, aiming to get down to thirty one in

(36:36):
the next few years. So on our current trajectory, we're
still going to be bigger spenders than pre COVID. Robertson,
I'd certainly like to be ambitious to say, look, maybe
we can actually save a bit more and get a
bit closer to that standard that's going to mean, instead
of just saying, look, we're going to take a haircut

(36:59):
of six or seven the center of every department. You know,
let's do some deep dives and start asking, well, how
can we actually go back.

Speaker 14 (37:07):
To first principles?

Speaker 21 (37:08):
If we weren't already doing this, would we start today
and what would be the basis for that? But as
I said yesterday, all of this is kind of you know,
we've just started the twenty five budget with a few
preliminary meetings and you know, all of that's still up
in the year. None of it's none of it's certain
at this point.

Speaker 2 (37:25):
All right, appreciate time. Acting Prime Minister David Seymour. This morning,
fourteen past seven, Paski quin in the National Convention. Both
parties are the one for the Republicans at the moment
of Milwaukee is that it culminates in our time. It
will be tomorrow afternoon Thursday nights in Milwaukee where the
President will accept the nomination or the president candidate or
the presidential candidate will accept the nomination and they will

(37:47):
speak for the first time and everyone will go nuts
and have a great party over the weekend. So jd
Vance is the lead up to that. So this afternoon,
our time, he's supposed to be speaking for the first time,
except he's speaking now, so why on earth would you
look to upstage yourself first?

Speaker 22 (38:02):
What I'll do after my remarks actually is try to
take some photos and hang out if you've got anything
you want me to sign. You guys are going to
hear me speak tonight for a much longer time than
you're going to hear me speak today, and I'd like
to get and actually visit with you a little bit,
so hopefully you're ready, because I'd love to just talk
with people and answer some questions and take some photos.

Speaker 2 (38:21):
So he wants to take some photos and selfie selfie
time preview himself for tonight's speech. Go figure fifteen past
seven the mic hosting racist once again, the power markets mess.
We'll talk more about it in about fifteen minutes. Eighteen
past seventeen. Councils across Wellington and the wire Rapper want
more time to consider water reform plans. They currently have
a year to develop an adopt mechanism, so the medias
have done the collective letter thing asking for an extension. Now,

(38:44):
the chair of the advice we got overside group name
Kerry prindergasts with us on this. Kerrie morning, good morning,
Nice to talk to you and you too. Water reform
has been on the agenda for years and years and years.
Why do you need even more time?

Speaker 12 (38:56):
Well, because there is new legislation being promulgated. We've put
a submission in. The reality is we have a year
from when it gets concerned and trying to get ten
councils first of all to agree on a financially sustainable
water program. But then they have to talk to their
elected officials. Then we have to consult with the communities,

(39:18):
and then we have to come up with a package
that is going to take longer than a year.

Speaker 23 (39:22):
Would you ask them?

Speaker 24 (39:23):
Could that make it two years?

Speaker 2 (39:24):
Okay? Would you reckon? Other councils will be going here
here we agree, Or you're some sort of outlier with
your group of ten and you can't quite get your
act together.

Speaker 12 (39:34):
Oh no, I think we're probably first cab off the rank.
The reality is the government did a deal with Auckland.
Where as far as we know, we're far more advanced
than any other groups of councilors on the work we're doing,
and I think they'll all be agreeing with us.

Speaker 16 (39:48):
They need more time.

Speaker 2 (39:49):
The ten you're talking or representing. Is that a deal
you're going to look to put together as a group
of ten or you just happen to be ten in
the region.

Speaker 12 (39:58):
Now at the moment we're ten. When in the region
we also have Horror foran Noah being part of us,
so that mags up the ten so cavity down through
and up, but all of the wire wrapper Greater Wellington
Regional Council and Horror for Noa.

Speaker 16 (40:13):
That's ten.

Speaker 24 (40:14):
That's a lot.

Speaker 12 (40:15):
Of people, more than half a million. It's a lot
of water reform for stormwater, water and sewage, so it
is a big package. We hope to hold the ten together.
Two groups are saying, well, we'll work with you up
a certain point and if the numbers look too scary,
we might go with someone else. The reality is we

(40:36):
all have to do something and the government's made it
very clear if we don't come up with a financially
sustainable package that our community can afford, they'll do it
to us.

Speaker 7 (40:46):
So there is.

Speaker 12 (40:47):
Momentum as a local body election next year. And of
course the other thing that we've asked for is not
just the extension of time to put together the package,
but more time to implement it. The government suggesting we
have to do it within ten years. The numbers are
too big for our communities to afford over ten years.

Speaker 2 (41:05):
See what the government says upon receipt of the letter.
Good to catch up. Don't Kerry Printer gast with us
this morning, Mike. The non tradable inflation is the number.
That's the incompetence number. I eat the councils. I've got
my own council story. I don't know whether I want
to bore you with it, but I may or may
not in the next half hour seven twenty one. My
cost will breakfast Amy Shark in for a song and
a chat after eight o'clock this morning meantime at seven

(41:26):
twenty three. Executive Summary. The executive summary changes little of anything. Firstly,
it is not the full report. We paid for the
full report. The full report is about being transparent. The
Greens can't claim transparency and honesty when they played dumb
games like the ones they are at the moment. Secondly,
it sort of doesn't matter. It says what it is
claimed it says, and so in that sense it's not

(41:47):
really the story anymore. The original story was whether Darlene
Tana was not what she claimed to be. The report
answered that seeing the written evidence, as we can now
apparently doesn't change the crime, does it, even though Tanna
disputes bits of it. Sadly, her foray into the public
are light this week on the Telly has not served
her remotely well. She, as far as I could hear,
basically babbled and blustered and made literally no sense whatsoever,

(42:09):
leaving me with the impression she must be a nightmare
to deal with at the best of times, and God
knows what it's like to buy a bike from him. Anyway,
This is the point either. The point is she's an
interloper who may well have the brass neck to try
it on and turn up at Parliament next week and
tough it out. Which is the real story. What did
the Greens do? And given the answer to this point
is nothing, they are the real criminals are pleading and

(42:32):
asking her to quit hasn't worked, isn't working, probably won't work.
But think about this. Is it a tactic? Is it
a tactic that gets them out of actually doing anything?
Is this for both parties a cake and eat it scenario?
Tana hangs in there until we all get bored, so
she's on the pigs back for the rest of the term,
accountable to no one. The Greens huff and puff do nothing,

(42:53):
hoping we also forget. But if and when we don't,
they can huff and puff some more, saying exasperatedly, who
we asked to resign? But she wouldn't. The Walker laws,
of course solve all of this, but they're so hoisted
by their myopic thinking on it they don't want to
embarrass themselves any further, even though it is the right
thing to do. They're also not off the hook on
the candidate selection Having a one stop are you a nutter?

(43:16):
Will you embarrass? His clause is not enough to safeguard yourself,
as we've seen time and time again with this lot,
they actually have to, oh, I don't know, dig ask
a few questions. So if Tana's skin is thick enough,
she collects the money, passes go and laughs at us
and the Greens well, surely if this is them at
their most decisive, Chloe's dream of overtaking Labor is about

(43:39):
as well thought through as their candidate selection process. Asking
coll for you, Mike, actually I'll do this one first.
I'm intrigued about darling Tana possibly going to the Maori Party.
Do they not have vetting standards? Do they do you
just have to be Maori and you welcome with open arms. Well,
I suspect the answer that is yes. But let's see one,
does she stal or does she go in parliament? Two

(44:01):
if she stays as she independent or goes to the
Marray Party, and some of those questions will then be answered.
Cee and in just moments ago claiming they've got the
first poll, we had another one. We had a morning
Console poll out post assassination. This is a Routters Zipsos
poll out this morning, once again national and really things
haven't moved. Pre debate, Trump with two plus points up.
Post debate he was tied, which is remarkable. So what

(44:23):
that poll is suggesting is post the debate, you saw
the debate, you saw Biden freeze, but suddenly, like Biden
more so, the gap closes. Explain that you can't. Now
for Monday and Tuesday, the polling has Trump plus two.
The really important polling I am led to believe, and
this is democratic funded polling. And this is where this
letter that I told you about earlier on came from.
In the states that count these swing statue, Wisconsin's of

(44:45):
Pennsylvania's Trump is winning out by a mile. And that's
what they're really starting to freak out about power bills.
We're into those well electric key. We are no longer
taking new customers. The reason they're doing that is because
they are you, the marketers. We'll have a look at
this and get your details in a moment.

Speaker 1 (45:05):
The Breakfast Show you can trust the Mic Hosking Breakfast
with Bailey's real Estate doing real estate differently since nineteen
seventy three used TOGSDB should give you.

Speaker 2 (45:15):
The read after the announcement yesterday on inflationist what the
banks think the Reserve Bank will do and it's all
been shifted. Of course, Quibank ASB are the most bullish.
I think I'm right and saying A and Z are
the only ones who've actually moved on their interest rates
because they've got the lowest number in the among the
majors in the one year eighty month to year three
year and floating at the moment. But I don't think

(45:37):
the others have moved since yesterday anyway, Kiwibank, I think
the cuts are coming by Christmas or earlier. If data
continued to show calling A and Z. They're going to
pull for their expectation. They think now November it was February.
Westpac sticking to November asb the most bullish or aggressive
if you like. They think twenty five points November would

(45:57):
be the quote unquote bare minimum. All the remaining OCR
decisions of the twenty four period are effectively live. So
they're talking August and cut could come as soon as
next month. I don't think that will happen, but that's
what they're saying. So we watch them wait twenty two
to way. What do you bring in? Do we know

(46:20):
by wave and inst.

Speaker 9 (46:21):
The rumor is a guitar?

Speaker 2 (46:23):
I like a guitar. What if she brings in a
three piece? Plean, You've got to plug it all in joy,
They're going to do your headed. The number of artists,
it will all be in the book one day, The
number of artists who have turned up at five to
eight and gone. I've just got a trombone and a
drum set and a keyboard and if you could just
sort that out in three and a half minutes in a.

Speaker 20 (46:40):
Double bass double bass here, we'll just get in there
and no worries.

Speaker 2 (46:45):
So Amy Shark if she just brings in a guitar
as premise she'll be invited back. Others have never come
back again, never been seen from heard from. Here's a
sign where the power market's at electric key. We've closing
their books to new customers right and near the electricity wall.
They blame the electricity authority in the Comments Commission for
allowing what they call market failure. The wholesale price is
to blame the chief executive Blinko is with us on this.

(47:06):
Look very good morning to you.

Speaker 23 (47:08):
Good morning, Mike.

Speaker 2 (47:09):
We have been here before. Will we be here again?

Speaker 25 (47:13):
Well, you'd like to think not, but it would appear
based on the regulatory failure that has continued probably for
the last ten years at least, hard to see it
getting better without some real urgency around intervention.

Speaker 2 (47:28):
If I ring the Commerce Commission right now and so
do you reckon there's market failure and power, would they
agree with you or not?

Speaker 25 (47:35):
I think they'd give you a fairly measured answer, Mike,
but I think they would have to admit that there's
there's strong indications of issues in the market.

Speaker 23 (47:43):
For sure.

Speaker 2 (47:43):
What you need to be as a gen Taylor, don't you.

Speaker 25 (47:46):
Well right now that seems to be the case, but
that's not how it should be. You rightly point out
that we rely on markets to deliver efficient outcomes for
what is actually essential service. But when you've got distortions
in that market, you get inefficient outcomes. And that's what
we're seeing now with a forty eight percent increase in

(48:07):
wholesale energy prices in the last six months. Now, we've
heard inflaced good news on inflation yesterday, but things like
this won't help.

Speaker 2 (48:15):
But on the wholesale and correct me if I'm wrong.
The reason that the wholesale price goes up is because
we don't have enough rain, or we don't have enough dams,
or we don't have enough windmills, or we haven't burned
enough coal. I mean, that's what boils down to, isn't it.

Speaker 25 (48:27):
Yeah, which relates to the build of capacity. Right, So
of our capacity today, eighty five percent of it was
built before privatization, So the current incumbents and here it
at eighty five percent of that capacity. The incentive to
build more is fairly muted by the strong incentive to
keep supply tight and the existence of market power to

(48:49):
allow them to do that. So you know, I don't
think it's any coincidence that once the Tea ideal was announced,
a whole lot of preconsented developments suddenly came out of
the got dusted off and came off the shelf. So
there's a real incentive for the generators and the ability
to use market power to keep supply tight. And that's

(49:12):
really the number of this issue.

Speaker 2 (49:13):
But Onslow was also curtailing matters, wasn't it. At the
end of the day, the government was going to be
sinking sixteen billion dollars into something. Why would you invest
in anything now that that's gone they can.

Speaker 11 (49:23):
Well.

Speaker 25 (49:24):
I think Teaway's probably had a bigger impact. I don't think,
you know, Onslow was necessarily even that far advanced for
people to be nervous. And we haven't seen any new
players really emerge at any scale since the closure of Onslow,
and you know, in the meantime, we haven't really built
anything else. So it comes back to incentives.

Speaker 2 (49:46):
Might as much as you want to run a good
business and be successful and God bless you in doing that,
aren't there enough in the market, be they gen Taylors
or not. Aren't there enough people in the market without you?
For us to be broadly as consumers happy enough. I mean,
yes it's expensive, and yes we'd like to pay less
and all that stuff, but it's not like the market
short of actual people who can supply mepower.

Speaker 25 (50:05):
Well, what it comes down to, Mic, is the long
term is the short term trade off. The role of
independence really is to keep good down with pressure on
consumer prices through competition. If you don't want competition, then
you don't really have a market, do you. So we
do rely on a market, so you actually do need
players like us who are actually more efficient at retailing

(50:27):
than the incumbents who cross subsidize their retail businesses, which
are hopelessly inefficient. So in the long run, all you'll
end up with as massively higher prices once you lose
that that level of competition.

Speaker 2 (50:42):
I admire your pluck and I wish you well. Luke Blinko,
who's the electric key we ceo with us this morning? Mic,
if you ring the Comments Commission right now, you'd be
on hold for seventy minutes years probably true, eighteen minutes
away from eight pasking you're very sorry for sin Lay.
Maybe it's my affinity to the country and the dairy
industry or maybe my affinity just with the economy generally
and trying to find people who are doing okay at

(51:03):
the moment. Sin Lay Milk is at one of them.
So yesterday they announced they've abandoned their readings guideline completely.
We were last week one hundred and thirty million dollar
loan which we've been building up to. They had the
vote on that and they said, yes, we'll take that.
Bright Dairy, who owned a chunk of that company, is
leading them one hundred and thirty million. How they dig
themselves out of this whole, I don't know. I hope
they do, and there are brighter people on the job

(51:25):
than me doing it. They paid down some debt that
one hundred and thirty millions helped them out for now,
but they don't know where they're going. They're looking at
accelerating volume growth. Terrific thing to say. How realistic is that.
They're optimizing cost once again, that's business buzzword, is a
real operational performance. They're improving that call, get on with it.

(51:46):
So they were meeting last week and got that loan through,
paid off some debt. But the dairy price is the
dairy price, and their problems are their problems, and I
just don't know what's changed. I mean, the vote on
the loan a lifeline, and when you abandon your guidance anyway,
all we can do is wish them well. Seventeen to two,

(52:07):
make Costume Breakfast, thirteen away from Mike. I believe that
about seventy five percent of supplies are put in notice
to leave the company. I don't know whether it's seventy
five Steed, but we've done interviews on the program before
and you're you know, there's a lot of people looking
to leave Mike about half of supplies, So you can
see that there's a movement that you go, I'll tell
you what. When the contract's up, I'm out of there.

(52:28):
So once again you feel bad for them. By the way,
a little bit of ev news. There's a couple of
really interesting things happening at the moment. The EU had
a vote it doesn't count, and I won't go into
the boring detail as to why it doesn't count, but
they will eventually get to a vote that does count.
The interesting thing about the vote that doesn't count is
there's a dozen countries and this is to do with

(52:49):
tariffs on Chinese cars. So what they're all Chinese evs,
and there's a big scrap between China and the EU,
China and the US at the moment over whether too
much government money from China is going into these car companies,
thus making the price artificial, so when they go into
the marketplace, suddenly you're undercutting everybody else and no one
else can compete. That's the suspicion. So they had a vote.
But the problem, the counter problem for especially the Europeans,

(53:11):
is a lot of the countries who were voting have
car companies who are deeply embedded in China your BMW's urlities, etc.
And so in the vote that doesn't count as a
whole bunch of countries who said, actually, no, we don't
like these tariffs on China and will pass thank you
very much, to which everyone went, what what are we
going to do now? Also yesterday GM announced to the
world that their plan to build a million evs in

(53:33):
America this year isn't going to happen because no one
wants to buy an EV. What they also announced then
this morning was their uping production of a thing called
a Cadillac Escalate, which has a V eight and is
very expensive. It's about three hundred thousand plus New Zealand dollars.
It's as hoping that the market people want engines, they
don't like evs. Then you come to a story I
stuggled upon yesterday in this very country, Kia have taken

(53:56):
thirty five thousand dollars off there EV nine, the top
of the line. EV nine is now thirty five thousand
dollars cheaper than it was the day before. So once
again I remind you if you'd wandered in and this
is not the bag that one Kia or anybody else,
I'm just just giving you the market. If you'd gone
into Kia a week ago and gone and tell you what,
I have one of those EV nines, thanks very much,

(54:16):
And they charged you one hundred and whatever, one hundred
and thirty six thirty seven thousand dollars. And you're waking
up this morning and suddenly it's thirty five thousand dollars less.
What do you think has happened to the value of
your car? Then, purely by accident, I'm looking through cars
yesterday I see advertised at the moment and this is
just an example. The one I stumbled across a twenty

(54:39):
twenty four in other words, a brand new our Dee
Tron GT. Now, as far as EB goes, they're okay.
They're a sporty ish looking car. They're a fine car,
very expensive car. Normally they are three hundred and four thousand,
two hundred and ninety dollars.

Speaker 9 (54:54):
Three of the money you save on petrol.

Speaker 2 (54:56):
Three you've got to save all on money on petrol
to pay for that three out or fourth undred ninety
dollars brand new car, really available to be picked up. Now,
what do you reckon? They've knocked off the price just
to tempt you into an EV. They've taken off eighty
nine thousand dollars. Let's call it ninety. Shall we see
me dealing with the currency, Sam, let's call it ninety.

(55:17):
They've taken off ninety thousand dollars off a new car
to convince you to buy an EV.

Speaker 20 (55:23):
Do you know how many of my cab precisely that
I drive right now, I could buy just for the
ninety thousand dollars Sam, that they could they've taken off it.

Speaker 9 (55:32):
It's quite fun. And then it's quite fun, is the
whole bullying Sam thing.

Speaker 2 (55:36):
It's become a thing, and it's very very popular.

Speaker 9 (55:38):
Yeah, I think, Sam Fi, is it fun?

Speaker 2 (55:39):
Have we made it into a podcast yet?

Speaker 9 (55:42):
Oh we haven't.

Speaker 2 (55:43):
Let's make it into a podcast. Nine away from eight,
the mic.

Speaker 1 (55:46):
Hosty Racist is with the Januar News tomb of.

Speaker 2 (55:51):
The Republican Convention. Trump's just had us walk through four
tomorrow night, so that's another day's worth of It's been
interesting to watch. Mind, you've got to be a bit
of a wonkluck meus post. Seven away from it looks
like changes arrived in the marriage market as well, more
and more of us apparently eloping. So what's driving this
New Zealand dream wedding zoner? Donna Dohy is with us
on this. Donna, a very good morning to you.

Speaker 24 (56:11):
Good morning.

Speaker 2 (56:11):
Isn't elopement different from what I think it is? Is
an elopement to me is two people who just sitting
there having a cup of coffee one day and going,
I'll tell you what, let's bugger off to Belle Cluther
and get married. And so it's not an event per se,
or has that changed?

Speaker 24 (56:23):
It's changing, right?

Speaker 2 (56:25):
So what is it now today?

Speaker 24 (56:28):
Well, they're putting more thought into it, so they're now
wanted more adventure, so they will contact the wind Tennis
say look, we want to elope, can we go somewhere
remarkable and we just planted and sometimes they'll have their
mom and dad. We do up to about six people

(56:48):
for the elightenments.

Speaker 2 (56:50):
Why why is that called an elopement, not a wedding,
just a small wedding.

Speaker 24 (56:57):
Honestly, I don't know. It's always been called elopement.

Speaker 2 (57:01):
What's driving this? Is it money?

Speaker 24 (57:04):
No? I think it was the COVID lockdown, the pandemic.
People actually sat there and actually thought about their life
and what's really important, right, because that's when the changes
really hurt.

Speaker 2 (57:13):
And having one hundred and twenty people, ninety eight of
whom you don't even know orli like all that much.
You don't need that narm more in your life.

Speaker 24 (57:20):
No, definitely, And they don't want people at their winning
They don't know. It's about the couple. It's about what
they're wanting today.

Speaker 2 (57:27):
That's good. So you don't want your parents driving you. See,
you got this tricky thing. Did do some parents still
dip in or help out their daughter's wedding costs?

Speaker 17 (57:35):
No?

Speaker 24 (57:36):
Not that I'm finding as the couple themselves.

Speaker 2 (57:39):
Ah So what about the other side of the equation?
When you sat down during COVID as a couple and
you went, you know what, I'd rather travel. I'd rather
have a deposit for a house I don't want it?
Is that driving it as well?

Speaker 24 (57:49):
Definitely. We've had couples come from England over to New
Zealand and they have said that they can come over here,
having a lightment, a honey moon, all their travel costs
and still have money left over for what it would
cost for a wedding back there.

Speaker 2 (58:02):
So it's really at the end of the day, it
is about money, isn't it And surrounding yourself with the
people you know and love as opposed to you know,
the white How's it affected your business because I'm sure
I'm sure you'd rather organize a wedding for six thousand.

Speaker 24 (58:16):
No. I love the personal wedding. You lose touch when
you have a large wedding. That's what I found personally.
That's why I do the small weddings. It's more intimate,
it's more fun, it's more stress free and relaxed, and
it's all about the couple.

Speaker 2 (58:31):
Yeah, excellent, And is business generally booming or are the
couple's going down that next track, which is we don't
need to get married officially in any way, shape or
form at all. We just lived together.

Speaker 24 (58:40):
No business has fun to boom.

Speaker 2 (58:41):
Good good, Well, I'm pleased to hear it. Donna go
well with that, Donnadhi who is the New Zealand Dream
Wedding z owner? The Times they are a change news
for you in a couple of moments. By the way,
I've been meaning to get to this. Read the League
last night. Mike, what genius at New Zealand Rugby League
got rid of McGuire as our national coach? Jerry? I
from memory, I don't think anyone got rid of him.

(59:02):
I thinking when he got given the job as you
know coach of where he is at the moment, I
don't I think he said he couldn't do both jobs
and he left of his own volition. So I don't think.
I don't think there's music. I think he could blame
Jim Mugby League on that Amy Shark song. In a
chat after the news, which is next here of news talk, said.

Speaker 1 (59:21):
B What big news, Bold opinions, the Mic Hosking Breakfast
with Alveda, Retirement Communities, Life your Way news talk, said B.

Speaker 26 (59:34):
Caught in the moment.

Speaker 27 (59:38):
Midnight in the room, my breath and her.

Speaker 26 (59:45):
God taking my I'm just a girl. There's gone nothing
to lose.

Speaker 2 (59:55):
In a seven minutes past eight. Let's chat and sing
along with Amy Sharks. She's here for her new weld
Sunday Sadness, which is out next month. Her last two albums,
by the way, we're number one in Australia. She's an
eight times ARIA winner. She's performed there, written songs with
trappers Barker, d Shere and Keith Urban and Coldplay. She's
also judge on Australian Idol and she is, well, it's
lovely to meet.

Speaker 26 (01:00:13):
You, hi, and nice to meet we.

Speaker 2 (01:00:15):
Haven't we been having the best time at the best time.
Yeah no, that's not true. I mean you've got to
say that stuff now. But the story is, and I've
got to share the story Waikawa Bay. My grandparents, years
and years and years ago, and this isn't the Marlborough
Sounds used to have a batch and we used to
go there as kids and it was the one of
two houses in Waikarawa Bay. And so I'm telling Amy

(01:00:37):
about the story boring at witless and we were talking
about the country, and then she goes, well, my husband
Shane is from Wellington, and I go does he like Wellington?
She goes, no, he likes Nelson and the Marlborough Sounds.
And you carry on with the story because all you
was a man with a batch.

Speaker 15 (01:00:54):
I as soon as you said Wakawa bay, I just
remember because we've caught a lot of snapper at the
at Shane's family's batch in the Marlborough Sounds, And that's
the sign that is behind all the shots because it's
on this little tree facing the ocean and it's the
same bay of every bay in the Sounds where.

Speaker 2 (01:01:15):
Your husband's family owns her back.

Speaker 26 (01:01:17):
Yeah, it's been in the family for like, you know, generations.

Speaker 2 (01:01:21):
Has it really? So that part of the story you
didn't tell me off here, So that's entirely possible that
that that's the second house in the bay next to.

Speaker 26 (01:01:29):
My Not much, not too much has been done to it.

Speaker 15 (01:01:32):
Shane's dad's builder, so he's kind of he's kept the
bones of the place, but you know, like things have
come a long way, like toilets and showers and cookers
and stuff. So but it's still very batch like. It's
not bougie at all. It's like you're going. It's you're
going out in the sticks and it's the best.

Speaker 2 (01:01:52):
It's not bougie. So your success is interesting because when
I first looked you up yesterday in terms of being
thirty eight years old, I thought, well, hold on, where
have you been? So you've You've been about the place,
working hard. When you achieve what you've now achieved is
the journey and this ties into your job at Australiannidol.
Is the journey and the success that that brings worth it?

(01:02:17):
And do you reveal in it now?

Speaker 26 (01:02:19):
Yeah?

Speaker 15 (01:02:20):
One, I think I do it more so than anyone
who maybe had a bit more luck and success early on.

Speaker 26 (01:02:29):
I think I like I.

Speaker 15 (01:02:32):
I revel in it more because it's like it just
took me so much longer, and I know how hard
I worked for it, so it's I don't take it
for granted, no, And and everything's really exciting for me
still because like you know, I didn't get signed till
I was like thirty and everyone I feel like I
feel like I've done so much, Like I really went hard.

(01:02:54):
The second I got signed, thing my whole life changed.

Speaker 26 (01:02:59):
I had some how that did really well.

Speaker 15 (01:03:01):
I got to do some awesome stuff and only just
now am I starting to be like, ah, this is great.
I'm actually comfortable in doing things I like and I've
got this sort of I've got a great team who
lets me do and make the music I want to make,
and it's it's fantastic.

Speaker 26 (01:03:19):
I still love making music. It doesn't feel like a job.

Speaker 2 (01:03:21):
You know, what's the listen out of that? Then, in
the sense, if you have talent, you will get there,
or if you have talent, you might get there, or
you just don't know.

Speaker 26 (01:03:32):
It's kind of got to be.

Speaker 15 (01:03:34):
I don't know if you've ever heard of the word dama,
But if people find their dama, which is something that
they are passionate about and happen to be good at,
that's when I think it'll happen. Like I think if
you do something and if you have the hard conversations
with yourself, like am I any good? Because that's what
people have to do, and not many people do. They
just want they just want what the outcomes of the job.

(01:03:56):
Whereas you know, if you're like, have that conversation, you're like, no,
I'm good. I know I'm good and I love it
and I'd do it for free. And if you just
keep doing it, I feel like and if you say
true to who you are, eventually, yeah, I think that's
a higher possibility. It's just got to all line up
and be for all the right reasons.

Speaker 2 (01:04:16):
Yeah. So juxtapose that to Australian idol and this whole
reality television thing is just that I want. I want
to be famous pleased if I could, that'd be awesome.
Do you do you offer advice to these people or
is this just a brilliant outlet to instantly trajict to
yourself to somewhere you want to.

Speaker 10 (01:04:34):
Be or what?

Speaker 15 (01:04:35):
I think it's different now and because you know, if
you asked me to be a part of this show
even five years ago, I would have been like, absolutely not.
I didn't. I never went on those shows. I never
could even fathom the thought of it. But now, music
is it was so inundated with artists and people who
think they're artists and people who write bedroom music and

(01:04:57):
I'm not knocking them, but it's like, there's so much
talent now and there's so many creatives. So I see
it as a I've seen so many brilliant artists come
through that platform, and I think it's actually smart now
to set them aside.

Speaker 26 (01:05:13):
You know, anything you.

Speaker 15 (01:05:14):
Can do to kind of cut through, you then have
to tackle it a really different way, which I've seen
as be very clever and tricky about how they navigate
through Australian idol to still have their integrity and be
taken seriously.

Speaker 26 (01:05:27):
And it's just so different now, you know.

Speaker 2 (01:05:30):
Okay, Travis Barker and working with him, tell me about.

Speaker 15 (01:05:34):
Him, just the most loveliest, is the easiest person really
because he doesn't look like it.

Speaker 26 (01:05:40):
Out of all the guys he was. I mean, Mark
was like so.

Speaker 15 (01:05:44):
Mark was the first member of Blink Onne two that
I worked with, and that was just a trip for
me because they're my favorite band of all time, you know,
since I was like fourteen.

Speaker 26 (01:05:53):
So Travis he heard what I.

Speaker 15 (01:05:56):
Did with Mark, and then one day I was on
Twitter and I had a message from Travis saying, if
you ever want some beats and if you want me
to drum on a track stop. So I kept him
in the back pocket for the next album and honestly,
I just sent him the song and he was so accommodating.
He you know, he sent a couple of trap beats.
I'm like, it's too trappy, sent a couple of like
sort of organic stuff and I was like, too rocky,

(01:06:18):
and we found this awesome balance.

Speaker 2 (01:06:23):
Trapping.

Speaker 26 (01:06:24):
It wasn't it was not It was not easy.

Speaker 2 (01:06:27):
It was like I.

Speaker 26 (01:06:29):
Said to my producer, maybe we just make it work,
you know. But he was so accommodating.

Speaker 15 (01:06:34):
He kept writing to me saying, hey, if I try this,
if this, if this is too you know, too trappy
and too rappy, and and it was done within like
two days, and he, you know, he was just so
this was before Kardashian World, so he had a bit
more time. But it was just epic and it was
so great with the video, and yeah, it was a trip.

Speaker 2 (01:06:55):
The album that's not out till next month. Quick preview
any good?

Speaker 26 (01:06:59):
Oh it's okay? Yeah, yeah, I'd give it a listen.
Give it a listen.

Speaker 2 (01:07:04):
What is the song you're going to play for us
after the break from the album. It is very exciting. Yeah,
and you've got your guitar, and God bless you because
we have so many artists who come in here and
just bring some accouterments and endless hangers on with instruments
and they expect us to plug it in in three
and a half minutes. You've brought your guitar, and you
brought your voice.

Speaker 26 (01:07:22):
Keep it simple, keep it simple more.

Speaker 2 (01:07:25):
In a moment fourteen past.

Speaker 1 (01:07:26):
Eight, the Mike Hosking Breakfast US.

Speaker 2 (01:07:30):
Talks EB seventeen minutes past eight, do you want some feedback?
Text has just come in. I'm a big fan of
who's already and I haven't even heard of sing Cheryl.
I love you, Cheryl, yep, exactly, I love you too, Cheryl.
Here's my next problem. I've got to get you to sing.
But the guitar. She has a guitar. This is all
being videoed, so go go to the website and have
a look. That guitar, apart from being beautiful, is made.

Speaker 26 (01:07:53):
By Russell Crowe.

Speaker 2 (01:07:56):
Right, So I said, what a beautiful guitar? Is that
a three quarters side? She goes, yeah, Russell Crowe made
me this one. I said, what was that?

Speaker 26 (01:08:01):
What I sound like?

Speaker 11 (01:08:02):
No?

Speaker 2 (01:08:02):
No, no, no it was. It was a bad impersonation.
But you see, so Russell crow because the New Zealander,
of course, don't let them tell you he's astraight, and
you realize his New Zealander.

Speaker 26 (01:08:13):
We claim him like we claim Lord, we claim all
your people?

Speaker 2 (01:08:16):
Does his family have a batch at Waywa Bay.

Speaker 26 (01:08:20):
I don't know that much.

Speaker 2 (01:08:22):
Who knows, but what a beautiful guitar. Why would he
make you a guitar.

Speaker 26 (01:08:26):
We've become really good friends. Like we played tennis.

Speaker 15 (01:08:30):
I played tennis with him and his girlfriend and my
Shane and I and we I don't know how this
has happened, That's what I mean. You know, I was
telling you I get to do this cool stuff.

Speaker 2 (01:08:40):
Saying it's you know, literally for you, Russell rings and
guitar for you.

Speaker 26 (01:08:45):
It's a silly job.

Speaker 2 (01:08:45):
That's amazing.

Speaker 26 (01:08:46):
It's crazy. But I'm very appreciative.

Speaker 2 (01:08:49):
Well that's very good. We're appreciative of you being here,
so so so hit the Russell? Do you call it
the Russell?

Speaker 26 (01:08:54):
Actually I do now thanks to you. It's called the Russell.

Speaker 2 (01:08:58):
Hit the Russell? And what are you playing?

Speaker 15 (01:09:00):
By the way, it's called two friends And I haven't
warmed up, but I'm just gonna.

Speaker 26 (01:09:04):
You go in there. You'll be brill with thirty nine seconds.

Speaker 11 (01:09:07):
I wanted.

Speaker 2 (01:09:07):
You're a judge on Australian All yeah, exactly what are
you doing on Australia? You bust someone out when it's
no good? Is that what you're doing.

Speaker 15 (01:09:13):
No, you just work, you navigate your nose and yes's
and it's it's really hard.

Speaker 2 (01:09:18):
Actually, yeah, well I'm going to be your Australian New
Zealand idol. Judge right, I'm not gonna look at you
ladies and gentlemen. Amy Shark.

Speaker 11 (01:09:27):
M just had a crazy flashback of a night where
you were saying words that we know weren't right, and
I feel like things never been the same between us.

Speaker 26 (01:09:45):
Who gives it?

Speaker 27 (01:09:46):
Damn we made our I like everyone who asked me
about that night, and you try to play cool cuckoo choo.

Speaker 2 (01:10:01):
Maybe we could.

Speaker 11 (01:10:02):
Find a nice place somewhere in the middle of secrets
and love.

Speaker 27 (01:10:08):
Maybe there could be a little romance between friends who
are falling in love. And maybe you could stay at
my place. No one's ever a home, man, I'll lock
up the gate. I wish we could tell the whole
world two friends who are fallen and fallen in love.

Speaker 11 (01:10:35):
Today was just one of those days.

Speaker 27 (01:10:37):
What a bitch, just to think I gotta wake up
and do it all again, and you're all stressed out,
don't know.

Speaker 28 (01:10:44):
Who to trust?

Speaker 27 (01:10:45):
Is everyone gonna find out about us?

Speaker 13 (01:10:48):
I don't know.

Speaker 27 (01:10:50):
I don't care, and I don't regret one second of it,
So let's try to play it COOLO, who could choose
my baby? Maybe we could find a nice place somewhere
in the middle of secrets and love.

Speaker 28 (01:11:10):
are falling in love. Maybe you could stay in my place.
No one's at home. Then I'll lock up the game.

Speaker 27 (01:11:23):
I wish we could tell the whole world to friends
who were falling and falling in love.

Speaker 9 (01:11:31):
Heo hoo.

Speaker 20 (01:11:42):
To.

Speaker 28 (01:11:42):
Sarah told Becky, and Becky told Tigan and Tea and
told see.

Speaker 19 (01:11:47):
It's friends with Crystal, and Crystal told Sally, Sally loves
Daniel and Daniel told Katie and Katie flipping hates me,
Sarah told Becky, Becky told Tigan, Teaking told so Sophie,
and Sophie stands with Crystal. Crystal told Sally and Sally
loves Daniel, and Daniel told Katie and HATI hates me.

Speaker 26 (01:12:09):
Maybe we could find a nice place. So we're in
the middle of secrets and love.

Speaker 27 (01:12:16):
were falling in love.

Speaker 26 (01:12:22):
Maybe you could stay in my place.

Speaker 27 (01:12:25):
No one's a whole man'll.

Speaker 26 (01:12:27):
Lock up game.

Speaker 28 (01:12:29):
I wish we could tell the whole world to friends
who were falling and falling in love.

Speaker 21 (01:12:36):
Whoa go.

Speaker 27 (01:12:44):
To friends who are falling falling in love?

Speaker 2 (01:12:55):
You can come back next week.

Speaker 26 (01:12:56):
Thank you very much.

Speaker 2 (01:12:57):
Round lovely to meet you and talk with you. Go well,
good luck with the old and good luck with the
two later on this year. Nice to see.

Speaker 26 (01:13:03):
Thank you so much. Thanks for the chout.

Speaker 10 (01:13:05):
Are you me?

Speaker 2 (01:13:05):
Shark eight twenty three.

Speaker 1 (01:13:08):
On my Costel Breakfast with Bailey's real Estate News Talk sivvy.

Speaker 2 (01:13:13):
A twenty six Good feedback, Mike, pretty frickin' good far out.
That was beautiful, Thank you Nick, best yet love it gorgeous.
You can definitely hear the Blink influence and Amy's voice
and style wonderful, beautiful picking and fabulous voice with elements
of Alana's Morris sette. Wow, that's her voice. Since Hobby's
from Wellington, can we claim her as a key we

(01:13:33):
fair point? She's awesome. Mike Magic interview so down to
worth and new music is so easy. Listen to make
sure you have her on your show again please I
think we will, James, So I appreciate your feedback. Some
scandal is brewing or has brewed and has been brewing
for a while in Wales, and the first Minister, and
if you follow Welsh politics, and who doesn't, the first
Minister's been there for about three and a half minutes
and all of a sudden he's.

Speaker 14 (01:13:54):
Had to quit.

Speaker 2 (01:13:55):
Rod Little all over this, and of course the King's
speech overnight as Keir Starmer outlines what he's going to
be doing over the next five years. Rod Little after
the News, which.

Speaker 23 (01:14:03):
Is next.

Speaker 1 (01:14:21):
Your trusted source for news and views. The Mike Hosking
Breakfast with Jaguar The Art of performance news.

Speaker 2 (01:14:29):
Talks had been well Amy Shark feedback, Mike, why can
people like Amy do that? And people like me can't
cooker canna beans without burning them? And that Chris is
the rich tapestry of life. I'm afraid, Mike. Why does
fog at Auckland Airport only stop internal flights not international?
Glen's very good question. The answer is ILS or instrument
landing system. They're mainly the domain of the big commercial
airliners and so therefore that's why the domestic flights means

(01:14:51):
nothing stopping you're putting one on. But I'm assuming cost
prevents the most smaller or domestic flights don't have them,
so the ils will get you through the fog Jetstar
which I'm uming doesn't. One of the flights delayed this
morning is a flight to Sydney. So it depends whether
the planes and the big planes tend to have it
and the smaller planes don't, is your answer?

Speaker 17 (01:15:08):
Twenty three to nine, International correspondence with Insneye Insurance Peace
of Mind for New Zealand business.

Speaker 14 (01:15:14):
Wouldn't we go? Roderick?

Speaker 2 (01:15:16):
A very good morning to you, my friend.

Speaker 23 (01:15:17):
Good volunt So.

Speaker 2 (01:15:19):
Having watched a bit of the King's speech, I noticed
he snapped at a page boy, thus once again reincurring
the wrath of the wider world that he's a little
bit grumpy. There were thirty there were thirty nine bills.
What did we get out of it? What did we
learn about the Labor Party and the way they're going
to run the country?

Speaker 23 (01:15:34):
I think we've learned that quite a contraire to what
some of the right wingers were worried about prior to
the election day, which is that actually we were ushering
in an extremely left wing party which was going to
tear the country apart with its taxes and with its

(01:15:57):
with its wokeism that actually they've restrained themselves quite a
bit from that position. Indeed, one of the first things,
for example, is that in the manifesto there was a
commitment to lower the voting age to accomnable. There was
seventeen or sixteen, to be honest, Mike, the year sixteen.
It could well have been six. You know, the left

(01:16:21):
wing worldwide, of course wish for voting ages to be
reduced because younger people tend to vote for the left.
That's not quite true in parts of Europe, but it's
true in Britain, and I think it's true in New
Zealand as well. And there was none of that. What
you saw instead was a kind of a program of

(01:16:44):
pragmatism about getting Britain building building houses, investing in an
industry and nationalizing the rail companies, all of which frankly
plays very very well with the electorate. I don't think
it was a bad king speech at all.

Speaker 2 (01:17:02):
The pound I noticed in a one year high based
on the fact that they see stability in a labor party.
Who would have thought the market likes labor.

Speaker 23 (01:17:12):
Well, you would think the market likes labor if you
had endured the last six to eight years of Conservative
rule because at least there is a degree of continuity,
which is what markets like, and markets always markets also
disliked disruption, which is of course, of course what you've
got with Liz Trust when she became the Prime Minister

(01:17:35):
and in the space of forty nine days wiped billions
of shares and ensure that you know, no one was
ever doing about later Conservative again for a very very
long time. So I think that's exactly it, Mike, what
you're saying, which is the King speech put forward a

(01:17:57):
platform which was purely man teer reel, which was kind
of corporate, and which was absolutely in line with what
the markets would like, and it left out all the
stuff which people have been jumping up and down and
saying they're going to do this, They're going to do that.
None of that happened.

Speaker 2 (01:18:16):
I'm looking at things like the Crime and Policing Bill,
the Terrorism Protection of Premises Bill, the Victims, Courts and
Public Protection Bill, a border security, asylum immigration bill. Do
they run the risk of coming unstuck on some of
the stuff you might think a left leaning government would
be a bit soft on, in other words, leading prisoners
out of jail and too many boats arriving on the shore.
Despite the fact that they allegedly promised to fix it on.

Speaker 23 (01:18:39):
The crime and justice, I think they have a degree
of leeway, which is that, without question, the Conservative government
over the last six to eight years hasn't concentrated its
mind to attention on what we're doing with our prisoners
and where they're meant to live. So you could only

(01:18:59):
go along so far by saying it was all the
tourries fold, but actually probably on prisons, it is the
tourists fole. And you know what they're what they're planning
to do is is actually by by by Labor Party standards,
quite right wing, which is saying that foreign offenders who
have been sentenced to prison will be deported back to

(01:19:21):
their countries. Well good, you know that is a that
is a populist thing to do. I think they will
come into trouble, into into a great deal of trouble
on migration, which was one of the kind of slightly
hidden issues in the last election. In the election two

(01:19:42):
weeks ago, they do not have a plan for what
to do with the immigrants who are coming over in
boats from the Channel. They say they're going to fight
the traffickers. But we were all fighting the traffickers, you know,
under the Tory government. It happens.

Speaker 2 (01:19:58):
Give us a quick word on on Wales. Vaughn Getting
is gone. He's only been in the job about three
and a half minutes. How big a scandal is this?
And two is there a snap election?

Speaker 23 (01:20:09):
I don't know if it's a snap election, won't getting
Getting was utterly hopeless. And what we've seen over the
last two or three months is the repealing or the
rowing back on a number of proposals which and enaction
enactments which Getting put forward. They are in real trouble

(01:20:30):
in Wales, much as they have been previously ten or
twelve years ago in Scotland, that they have a captive
population which has finally worked out that there've been no
use whatsoever over their entire tenure, and Getting is an
exemplar of that. What happens next will be interesting, being

(01:20:53):
interesting to see it as an election. It will be
interesting to see who the Labor Party puts forward because
us one of the biggest things which Richie Sunak have
to go on during that last election was if you
want a labor government in Great Britain, look at what
they've done in Wales. And in Wales the National Health

(01:21:13):
Services worse than it is in England, worse even in Scotland.
There have been loads of virtue signaling Green Agenda stuff
limiting drivers to driving at twenty miles per hour which
has just been repealed this week, and crime policing all
worse than England. So it's been a litany of catastrophe

(01:21:38):
for what was quite a left leaning labor government in Wales.
And here's my guest, Mike. I think that Kerstarmer is
probably rather glad that get things.

Speaker 14 (01:21:49):
On the way out.

Speaker 2 (01:21:50):
Good on your mit, you have a good weekend, well
look forward to on next Tuesday. Rod Little in the
UK sixteen to nine. Away from my material, it's for
sky City this morning. This has been ongoing and it's
been a dispute between the Department of Internal Affairs, who
made an application to the New Zealand Gaming Commission a
while back to suspend sky City's license because they identified

(01:22:13):
failings in their host responsibility program. That's the bit we've
known about. So they've withdrawn that this morning based on
the fact that they've cut a deal or a deal
or an arrangements has come to be agreed to and
sky City listen to this, have agreed to close it's
sky City Auckland casino for five consecutive days. So I

(01:22:34):
mean the material impact is I would imagine it's enormous
for what it's worth. The hotels, the restaurants, the bars,
the skytower, all that sort of stuff. So if you
want to do a bungee jump off the sky tower,
don't worry. That'll still be open. But the gambling floors,
the gaming floors will be closed for five days. That
is that is quite the arrangement, Callum Mallett, who runs
the place. The failings are significant. The company is rightly

(01:22:58):
rightfully being held to account failed to protect people from
gambling harm. Their chair guy called Julian Cook, says, the board,
the executive, the entire team are wholly committed to doing
better and building back trust. But when you've landed yourself
on that level of trouble, that are trust to build back?
Speaking of trust, consumer New Zealand, answer me this one.

(01:23:19):
I mean it's easy pickings for them. This morning they're
packing once again on Air New Zealand. Can you pick
on air New Zealand? Is it easy to do so?
Do lots of people do it. Yes, you do. If
I wanted to fill up the text machine, just let
that I go. Hey, tell us about the time you
felt you got ripped off when you booked an airtaket. Right,
that's the end of the beginning, of the middle and
the end of that. So everyone can pick on Air
New Zealand. Their claim consumers this morning is they went

(01:23:39):
and compared fares for eleven Air New Zealand flights in
twenty twenty three and twenty twenty four and their equivalent
flights taken from twenty nineteen to twenty twenty one. In
other words, prior to COVID, all flights bar one more
expensive three or four years later anywhere between thirty four
percent and two hundred and ninety seven percent. Now thirty
four When you're talking something from twenty nineteen to twenty

(01:24:00):
twenty four, we all know what's happened to inflation. Forget
whether you like here in New Zealand or not. Everything
I would argue has gone up at least thirty four
percent in the last four or five years. Two hundred
and ninety seven percent not so much. But here's one
of their examples. A flight for a family of four
from Sydney to Palmerston North. Not exactly one of the

(01:24:22):
main trunk operators. It's not London to New York, is it?
So a family of four Sydney to Palmeston North. Now,
prior to COVID, it was going to cost you thirteen
hundred and seventy two. Today it's thirty four hundred and
fifty one dollars. So that, come on, how long abode
do you want to draw on that?

Speaker 14 (01:24:38):
One?

Speaker 2 (01:24:38):
Better example? Christ Church to Dunedin return with five weeks
lead in time, So back in twenty twenty that would
have cost you one hundred and twenty three bucks. Last
year it would cost you three hundred and forty four
almost three times as much. Wellington to Dunedin two people,
one bag four hundred and eighty seven dollars in twenty
twenty nine hundred and seventy dollars. So there's no question
the price has gone up. What they're looking to achieve

(01:24:59):
by this, I don't know, because Air New Zealand will
come back with a well, yeah, have you seen the
price of jet fuel? Have you seen the price of labor?

Speaker 20 (01:25:06):
Have you seen how many people are wanting to go
from Sydney to Parmerson Northeast days.

Speaker 2 (01:25:10):
The Parmas of North Sydney route has just gone off.
I mean the capacity demand, we just can't match it.

Speaker 20 (01:25:15):
Well, I think they're talking about the brain drain from
Sydney to Parmaston north over there.

Speaker 2 (01:25:18):
No one's made that link until just now, nine minutes
away from nine.

Speaker 1 (01:25:22):
The my Costle breakfast with a Feeder Retirement Communities News
togs V.

Speaker 2 (01:25:28):
One of the issues of the age is there's always
a new story at the moment about increasingly cunning scammers
taking advantage of vulnerable New Zealanders, whether that be through
you know, calls, text emails, fake websites, all that stuff. Anyway,
A and Z, in partnership with Age Concerned New Zealand
are encouraging all keywis to be on patrol force scams
these days, and we're not doing it alone. From the
from the eighties television show you might have seen this

(01:25:48):
Chips Frank Ponchalo and John Baker, they're bringing old school
justice to modern day scams. So what's happening? This is
a nationwide invitation to write along while learning how to
be more conscious, alert and aware of scammers. So what
does this mean. It's very important to remember that you've
got the right to Here's what. You've got the right
to ask questions when contacted by somebody. Be cautious of
any investment opportunity, hang up on anyone asking for urgent
transfers of money, and of course, be suspicious of unsuspected calls, text,

(01:26:12):
or emails. And A and Z encourages you to test
your scam knowledge on their new Scam Academy web page.
The web pages as follow as you're really an Z
dot co dot in z forward slash scams A in
z dot co dot in z forward slash scams psking,
We've been a time to deal with this in the
last couple of days, but I'm looking at the other
boot camp they're going to be starting shortly the boot camps.

(01:26:34):
Is this is this urgent or not?

Speaker 11 (01:26:36):
Really?

Speaker 2 (01:26:36):
Okay? So you just walked in here to interrupt the
program for no particular reason. Brings a piece of paper
in and I'm thinking, right, breaking news, breaking news.

Speaker 20 (01:26:42):
See nobody had to know this, no, but we we
were just making sure that the piece of paper he
brought you before was the correct piece of paper.

Speaker 2 (01:26:49):
He's bringing me the same piece of paper you've already
given made.

Speaker 9 (01:26:52):
But we did not know that for sure. We were
just chicking, and you've made a big thing about it.
Now I was, and now you look.

Speaker 2 (01:26:59):
Like that anyone, like an incompetent, unprofessional can's right.

Speaker 9 (01:27:03):
So you did it to yourself.

Speaker 2 (01:27:05):
And one of the things they teach it broadcasting school
very early on is should a person at the last
minute Russian with a piece of paper, under no circumstances,
do you panic and alert the audience to it because
it could be serious breaking news and look for the
sting and go directly to your technical director, thinking, oh
my god, what's happening now, because it could just be
an idiot producer who comes in with a blank piece
of paper has already given you five minutes away from nine.

Speaker 7 (01:27:31):
Trending now with chemist Wells keeping Kiwi's healthy all year round.

Speaker 2 (01:27:36):
So Rishie has suddenly turned out to be human, lost
his job, the power of the state, the pressure of
running the place. Suddenly you can loosen up and be
a bit normal that This was part of a speech
in the Commons following the King speech.

Speaker 29 (01:27:47):
If I may offer some words of advice to members
opposit on the Government benches, Life comes at you fast.
Soon you might be fortunate enough to be tapped on
the shoulder and offered a junior ministerial role. Then you'll
find yourself attending cabinet, then in the cabinet, and then
when the prime minister's position becomes untenable, you might you

(01:28:12):
might end up being called to the highest office, and
before you know it, you have a bright future behind
you and you are left wondering whether you can credibly
be an elder statesman at the age of forty four.

Speaker 2 (01:28:27):
And you love him. That's delightful, and I wish more
people would learn that. Listen, be yourself in the more
difficult times. He there was a rumor he's moving to California.
He's not. He says he's going to spend the summer
watching the cricket of Lord's, so good luck to him.
I was building up to the boot camps, and I've
got the list of what they'll be doing on the
boot camp. It's been around for a couple.

Speaker 9 (01:28:46):
Of days, but we were't supposed to call them boot camps.

Speaker 2 (01:28:49):
Or the academies. My apologies the academies. The academies have
got the details on the academies and they're getting up
at six thirty in the morning. How are you going
to straighten somebody?

Speaker 10 (01:28:58):
Use?

Speaker 2 (01:28:59):
If you're getting up at six point thirty in the morning,
why have a sleep? And some of us get up
at two o'clock in the morning. Look where it got us.
It got us all insuy w and people run into
the studio and we don't know what's happening next. Anyway,
back tomorrow morning.

Speaker 23 (01:29:11):
At six.

Speaker 26 (01:29:19):
Fear like Gus

Speaker 1 (01:29:23):
For more from the Mic Asking Breakfast, listen live to
news talks it'd be from six am weekdays, or follow
the podcast on iHeartRadio.

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