Full Show Podcast: 20 August 2025

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Pressing the newsmakers to get the real story. It's Heather
Duplicy Ellen Drive with One New Zealand to coverage like
no one else.

Speaker 2 (00:09):
News Talks have v Afternoon.

Speaker 3 (00:12):
Welcome to the show coming up today. The Reserve Banks
Acting Governor Christian hawksby with us after five on the cuts,
the Teachers' Union of the strike, the will guy's on
how came our woolcam to be used for the tennisballs
but company reports. We've got Fletcher and Spark and Winston
Peters on why he wants to testify to the COVID inquiry.
Heather Dupericy Alan, the longer that this economic funk that
we find ourselves and goes on, the more that Jared

(00:33):
kurve Kiwi Bank is being proven right, isn't he? And
we had a cut today it was twenty five basis
points down to three percent now with the expectation that
we will maybe get down to two point five percent
before the thing bottoms out. Two point five percent is
where Jared Kerr has been saying four months that we
need to get to. But even though he's been saying it,
eye locked it and looked like at least September last

(00:53):
year if not earlier, even though he's been saying it
since then, the Reserve Bank has only just caught up
with him. Up to now, they've been talking about two
point seventy five three percent. Maybe Now, what you should
take from that is that the Reserve Bank is surprised
by what Jared Kerr and you could argue many of
us have been seeing for ages, which is that the
economy is properly, properly, properly stuffed, like stuffed enough that

(01:16):
they should be cutting a lot more than they are.
Why this is a surprise to them is beyond me,
because you just need to look at what's going on
with business today to see it. Fletcher a massive loss,
spark profit down, massively, huge job cuts there, kitchen things
in receivership. Now, some of that will be absolutely because
of poor decisions, but some of that is because we

(01:37):
are in an economic funk come recession as bad as
anything in my entire life. I mean, the last time
we saw anything this bad was the eighties, some indicators
say the seventies. So why the Reserve Bank hasn't cut more,
including today, is baffling. They debated it. By the way,
it did occur to them four of them voted for
the twenty five percent of the twenty five basis point
cut that we got. Two of them voted for a

(01:59):
double cut of fifty basis points. Two of them can
see what the rest of us can see, but the
four wins. Unfortunately, the fact that they cut today and
indicated they will cut more than they had previously expected
to cut is a sign that they made a mistake
when they didn't cut last time and opted to hold instead.
The Reserve Bank is once again caught on the hop

(02:19):
making the economy worse than it needs to be. If
only Jared Kerr was running the joint Heather Do for
c Allen nineteen is the text understandard text fees apply. Now,
here's a question for you. Should insurance companies have access
to your genetic data? There is a call for the
government to ban insurance companies from what's called genetic discrimination. Now.

(02:41):
That is when they ask you for your gene testing,
and if your gene testing shows that you're at higher
risk for a type of disease, then the insurance company
makes you pay more for it. Now, Jody Bue's hair
is a part of the Familial Breast and Ovarian Cancer Trust.
Hey Jody, you got gen test today. Certainly it did,
and it showed what.

Speaker 4 (03:01):
Showed that was positive for the Bracker two Brca two
gene mutation, this which is an extremely high risk for
breast and ovarian cancer.

Speaker 3 (03:12):
Right, and so as a result, did you have your
breasts taken off?

Speaker 5 (03:15):
I did.

Speaker 4 (03:16):
I had a double mistectomy at the age of forty
and reconstruction and then I also had my ovaries and
fallopian tubes taken right as well.

Speaker 3 (03:26):
Well, how much does that drop your risk of cancer by?

Speaker 4 (03:30):
It dropped it from around at that time upwards to
eighty five percent, although I was told at the age
of forty that it was not if I was going
to get breast cancer, it was when, and it was
probably going to be in the next year. And it
dropped it down to about one percent because I still
have around one percent of breast issue left.

Speaker 3 (03:49):
Okay, So how come the insurance company is pay making
you pay more for your premiums than if you're at
a lower risk than most women.

Speaker 4 (03:58):
I think it's just one of the lunges of everyone
grappling with how genetics and predictive testing works. I mean,
obviously we still have family history and I think that's
fair enough to continue to look at family history. But
but yeah, in terms of I've asked for a review

(04:19):
of the loading on insurance because yeah, I don't have
that risk anymore. I don't have any breast issue. So yeah,
it's pretty hard to argue that I have the same
risk as the rest of the population because the rest
of the population is ten percent and so pretty much none.

Speaker 3 (04:33):
I don't get it, Jody. Are they just not thinking
this through or is there something that they at the
insurance company knows that you don't know.

Speaker 4 (04:40):
I don't think it's quite like that. I just think
it's it's part of that challenge of keeping up with
the changes and technology, the changes in what's happening around testing.
I think it's something for you know, actually and underwriters
to grapple with. And I think it also is becomes
incumbent on us to challenge and find out about the

(05:02):
loadings as well. You know, it's a similar My daughters
have seventy five percent loading on their life insurance and
they haven't been tested.

Speaker 3 (05:10):
Yeah, yeah, yeah, So are you better off then not
actually doing the test in the first place and just
just taking your chances?

Speaker 4 (05:20):
Definitely not, I think and that's you know, one of
the reasons that Agenda is doing what we're doing to
try and advocates for the total band because genetic tests
and saves lives. I mean, if I hadn't done that test,
there's a high chance now at the age of fifty two,
that I'd be dead because most of the people in

(05:41):
my family who got breast cancer died before the age
of fifty and so yeah, anything that encourages people to
get testing is really important because it literally saves lives
and ultimately saves money down the track. It's a lot
cheaper to funder prophylectic surgery or screening that it is

(06:02):
too gunned ten years of cancer treatment, which is what
my sister went through.

Speaker 3 (06:08):
Jody, Hey, thanks very much, really appreciate a best of
luck with this campaign. Excuse me. Jody Bue's hair part
of the Familial Breast and Ovarian Cancer Trust. Donald Trump
has phoned into Fox and Friends to tell them why
it is that he's so keen on brokering a peace
deal for Ukraine. It's because he wants to get to heaven.
He said, I want to try to get to heaven
if possible. I'm hearing I'm not doing well. I'm really

(06:28):
at the bottom of the totem pole. But if I
can get to heaven, this will be one of the reasons.
Thirteen past four.

Speaker 1 (06:35):
It's the Heather du Bussy Alan Drive Full Show podcast
on iHeartRadio powered by News Talk ZB.

Speaker 3 (06:42):
Heather Today, friends told me of three working people who
can't afford to rental own a house anymore. One was
an architect, one was a mechanic who and another one
owned their own business. One is sleeping in his car,
and the other ones under the office desk. An employee
who asked the boss if she can park a caravan
out the back of the business. She has a husband
and an eight year old daughter. It's that tough if
even employed people are going broke. What is happening? Fair

(07:04):
Point are seventeen past four good.

Speaker 1 (07:06):
Sport with tab Multi's Fast Easy and more Codes eighteen
bit Responsible.

Speaker 3 (07:11):
Garcy Wadgrave sports talk hosters with me.

Speaker 6 (07:12):
Hello, does hello Heather?

Speaker 3 (07:14):
Did we know that Walla Satiti and to Mighty Williams
are coming back?

Speaker 2 (07:17):
Yeah?

Speaker 3 (07:17):
Did we?

Speaker 7 (07:17):
Yeah? Okay, yeah no, that was always first plan. They
got through their injury issues. They're well ready to go.
It's a matter of where they'll be picked. Will they
be picked to start in the fifteen? Will they both
be in the twenty three? What effect do they want?
So anyone's guess, it's as good as yours. I'd say
that to mighty will start, although I had a discussions.

(07:40):
Someone says, no, no, no, no. You want him as
an impact player of the beach to walk all over
the top of the Argentines. And then, of course, Watiti,
where do you put them in? He's more likely to
start off the bench. I'd say, covering some positions. They
can move around that loose forward trio.

Speaker 6 (07:54):
But nobody knows.

Speaker 7 (07:56):
Unless, of course, you pretend to be Rassi Erasmus and
out your team on a Monday.

Speaker 3 (08:01):
But Scott, is that unusual?

Speaker 7 (08:02):
Scott, Yeah, it was a Tuesday. Well they didn't. You said, Look,
this is I don't care about my team. I'm gonna
worry about my team. I'll let it out there on Monday.
You guys can work it out. It probably won't be
much of a resemblance to the team that runs out
in the game, but that's what that's what Rasci is doing.
We'll find out on Friday morning who the team is.
I don't know if there'll be too many changes. You

(08:24):
would like to think that playing with the makeup and
the numbers of the side before the South Africans work
could either work really well give some guys some time
on the ground, or it could blow up in your face.
Because you want solidity of connection and combinations, and I
think we saw that in the game last week. There
were still some areas where the flow wasn't there because

(08:47):
the players weren't quite used to playing with each other.
So I would like to see continuity in the silly.

Speaker 3 (08:54):
How do you rate the chances that the Argie's got
a fright and come back stronger?

Speaker 2 (08:59):
Not very high?

Speaker 3 (09:00):
Why not?

Speaker 7 (09:02):
Well, they would have got a fright and they'd like
to come back stronger, But I don't see where they
would come back stronger. The all Blacks were, they weren't
perfect by and he stretched the imagination. They've got so
much more room to build than Argentina has and the
dominance we had and set peace. You can't just turn.

Speaker 3 (09:18):
That around fair enough. You really can't tell me about
the scandal in Venezuelan softball.

Speaker 6 (09:23):
Okay, there's this guy whay you're laughing.

Speaker 7 (09:27):
It does sound funny.

Speaker 3 (09:28):
It isn't very niche isn't it?

Speaker 7 (09:31):
Okay, Well, the Black Socks are seeking advice because their pitcher,
Micah Pimentel has failed a doping test.

Speaker 3 (09:37):
This is the Venezuelan.

Speaker 7 (09:38):
Yeah, so he was part of the team that what
he pitched Venezuela. He's like the boss man of the
team that pitched the defensive guy, the half back, if
you were the quarterback, sorry, or the first five eight,
very very important. But if he's he's got to get
a B sample through, right, bee sample comes through. The
question is is do World Softball take the title off

(10:00):
Venezuela and in turn give it to the runners up,
which is New Zealand.

Speaker 3 (10:05):
But I mean tell me, I'm going I'm going to
sound so stupid right now.

Speaker 6 (10:10):
No, no, you're not.

Speaker 7 (10:11):
You're going to sound interested.

Speaker 3 (10:12):
I mean doping when you're weightlifting, I can see that
that you know, presents a material advantage to you. But
if all you're doing is throwing a ball at a dude,
who is going to hit it? Is it really?

Speaker 7 (10:22):
I mean, yeah, it's all recovery time. It's all how
much you can stay for how long between workouts and
keeping your body up. They use that as an aid
between the games themselves. What I'm fascinated by anabolic steroids. Mate,
there it's Stanozolo. This is like so old yeah, and

(10:43):
this is Venezuela. I don't think they're quite up to
the program when it.

Speaker 3 (10:46):
Comes to you've got to use the stuff that no
one knows about stuff.

Speaker 7 (10:50):
I think you might have gone on that one. So
a bit of trouble.

Speaker 3 (10:54):
I'm just not convinced.

Speaker 6 (10:57):
This is it.

Speaker 7 (10:58):
But if you're leader of me, that is there and
he's like the go to guy, and that's what the
picture is in.

Speaker 6 (11:04):
Soldful and he's cheating.

Speaker 7 (11:07):
Do you punish the whole team or do you just
punish him?

Speaker 3 (11:11):
Now you punished the whole team.

Speaker 7 (11:12):
Do you remember back two thousand and eight, I want
to say in China the Jamaican four by one hundred team, yeah,
which Usain Bolt was a part before he just smeared
his copybook by doing personal adverts or whatever it is.
That team lost their gold medal because one member of that.
You have got it done for.

Speaker 3 (11:29):
Druss nothing drugs have never done in isolation. Everyone knows.
Everyone knows, so you reckon.

Speaker 7 (11:34):
There's more there and the like as well.

Speaker 3 (11:37):
And peer pressure is the greatest thing and if they
know they're all going to lose their their their ranking.

Speaker 7 (11:41):
I think it's about an example to me all the time.
It's like, right, we don't know what it's going to
do to you. Bit that's banned and as a direct result,
you've lost this and Venezuela will be a prie, won't
he terribly well.

Speaker 3 (11:54):
We'll see about it.

Speaker 6 (11:55):
We'll find out when the b shumple comes.

Speaker 3 (11:56):
Fascinating. Thank you very much, Darcy.

Speaker 7 (11:59):
I'm going to talk bring Paul tonight on the Selle
about world rankings because New Zealand somehow the or Whacks
are number one in the world, ahead of South Africa
and we haven't beaten them and I don't know how long.

Speaker 3 (12:08):
It's a funny thing.

Speaker 2 (12:09):
It's silly.

Speaker 3 (12:10):
Thank you, Darcy Watergrave Sports Store Coast. He'll be back
at seven. It's full twenty two.

Speaker 1 (12:14):
The name you trust to get the answers you need,
it's Heather fu the Clan drive with one New Zealand
coverage like no one else us talk.

Speaker 3 (12:24):
They'd be hey, jeez, I don't know if you've seen it,
but Patrick Tupoulotu's facial injury is really gross. Did you
see the head knock that he took during the game
and then he had a head off and I don't
know whether they did one of those HIA assessments or
whatever they done on them, but anyway, he has now
posted a picture on social media of what happened to
his face and he has an enormous dent in his

(12:45):
forehead like it catch water. If he lay backwards and
poured water on his face, he would have a little
lake in the center of his forehead. And you could,
I reckon, you could, I reckon? You could? You could
get like a fingernail in there to a fingernail's depths.
It's gross man anyway, it's quite a significant fracture. And
he is on his way home to Auckland for surgery.

(13:07):
And you can see why if you have a look
on a social media for twenty five hither. I cannot
wait till AI takes over control of the Reserve Bank.
It could probably not do a worse job put it
in so the Reserve Bank. One of the things they
have in common with teachers is that they have a
lovely long summer break, like it's a really long it's
like a good three months where they just kick back,

(13:29):
you know, go to the cooks. I don't know, do
what they want, get into their short start barbecuing. They
don't have to think about the OCR for three months.
Finance Minister Nikola Willis is indicator she doesn't love it
because yes, it's twenty twenty five, not nineteen fifty two.
And the rest of us don't love it either, because
what if we need to have like a little emergency
Reserve Bank meeting to cut the OCR Well, Acting Governor

(13:53):
Christian Hawksby was asked about that today and this is
what he said.

Speaker 8 (13:57):
We currently have twelve months of dates out there, in
cludes over this summer period. Of course, we always have
the ability to have an emergency meeting outside that schedule
if we wish, so that's a no. We're conscious of
the gap in meetings between November and February, and particularly

(14:20):
the one that we experienced earlier this year. Our meeting
schedules have to be determined by the availability of data
and that's what we really work off.

Speaker 9 (14:30):
Yeah.

Speaker 3 (14:30):
I mean what they have now on the Reserve Bank website.
I don't know if you've seen it is real time data,
where it basically tracks what's happening to GDP in real
time why they think they haven't got enough data is
kind of beyond me. I don't really know, but there's
a lot that goes on at the Reserve Bank that's
beyond me. Lately. We'll have a chat to Christian hawksby
after five o'clock. Also, just quickly, just give you an
update on what's going on with that meeting between Putin

(14:53):
and Zelenski that Trump is trying to push. The Kremlin's
pumping the brakes on this big time. Remember Trump said
it might happen in the next week, maybe the next
two weeks. The Foreign Minister of Russia Sergei Lavrov said
any meeting would have to be prepared gradually, you know,
with all the little like that, you basically work your
way up the junior ranks of the foreign affairs departments,
so you get to the senior ones. They haven't rejected it,

(15:15):
but it can't just be a meeting for the sake
of a meeting. It has to be for basically the
end goal. So is this person starting to be a dick?
We'll see news is next?

Speaker 2 (15:30):
News Talk said be extra.

Speaker 3 (15:32):
What's the inspiration behind this album?

Speaker 10 (15:35):
I think the inspiration behind the album is kind of
a seventies live energy. I wanted a record that felt
like a group of people in a room playing together.
I've got this amazing band of New Zealand musicians and
when we play there's a lot of there's a lot
of life and musical conversation going on, and I wanted

(15:56):
to capture some of that in a record in the
way that I think nineteen seventies records really did beautifully.
And then lyrically, the songs a collection of songs that
I wrote over about a year, and at the time,
you don't have a theme, and I didn't have a
real mission about what the album was going to be.
I just collected my favorite songs that came together. But

(16:18):
then when you in retrospect, you look back and you
see there are some threads of optimism and hope in
a kind of modern world.

Speaker 1 (16:27):
That was a News Talks EDB Extra News Talks ed
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In to out at us talk, saidb dot Co dot Ensire.

Speaker 1 (16:55):
Thanks to your knighted alliance iHeart Radio and used Talks
ed B. The Rugby Championship is underway after a compelling
victory against Argentina.

Speaker 2 (17:06):
That is the the All Black span forty four.

Speaker 6 (17:09):
The All Black scovis to number one in the world.

Speaker 1 (17:11):
You all black, said to Buanas Aires for the second
test against Locke Bullets.

Speaker 2 (17:15):
Listen to News Talks EDB from nine am.

Speaker 1 (17:18):
Sunday for live commentary with our voice of Rugby, Elliott Smith.
Lovely try All Blacks by Argentina Live nine am Sunday
on News Talks EDB, your home of sport your first
take on the news.

Speaker 2 (17:32):
It's early edition with Ryan Bridge.

Speaker 3 (17:34):
Only a quarter of year eights can write at the
level the new curriculum expects.

Speaker 11 (17:38):
Carl Bruce and Remuera Intermediate School, Prince Suport.

Speaker 5 (17:41):
The bottom line is if those numbers are accurate.

Speaker 9 (17:43):
There's a pretty compelling reason for it.

Speaker 2 (17:45):
When you look at the.

Speaker 6 (17:46):
Way our school system is designed.

Speaker 9 (17:48):
We put the least amount of resource and we.

Speaker 3 (17:50):
Have our highest class sizes in years four to eight.

Speaker 1 (17:52):
Ryan Bridge on early editions with one root weekdays from
five am on news talks, edb on your smart speaker,
on the iHeart app and in your car on your
drive home it's heather duplicy Ellen drive with one New Zealand.
Had of power of satellite mobile news talks, there'd be.

Speaker 2 (18:15):
Heavy.

Speaker 3 (18:16):
Your assessment of the economy seems to be based on
Auckland further south. The times are not tough anymore. The
Reserve Bank needs to reconsider the whole consider the whole country. Well, actually,
if you have a go fairpoint, fairpoint. But if you
have a look at their monetary policy statement, what you'll
see in there is that today many agricultural businesses have
used the earnings from the high export revenues to pay
down debt, which means they're not passing it through in

(18:37):
consumption and investments. So it's pretty limited out there as well. Listen,
Barri soopers with us in ten minutes time. We've got
Dan Mitchison standing by out of the US and as
I say, Christian Hawksby will be with us acting Reserve
Bank Governor after five twenty two. Away from five.

Speaker 1 (18:52):
It's the world wires on newstalgs 'd be drive.

Speaker 3 (18:55):
Donald Trump says he's open to providing American pilots and
warplanes to Ukraine as part of a peace steel. White
House pre Secretary Caroline Leavitt has ruled out sending any
ground forces, though.

Speaker 12 (19:05):
The President has definitively stated US boots will not be
on the ground in Ukraine, but we can certainly help
in the coordination and perhaps provide other means of security
guarantees to our European allies.

Speaker 3 (19:17):
Australia Israel having a spatant Yaho has accused Ozzie of
betraying Israel. Australian diplomats have obviously been banned from the
occupied West Bank after fire right Israeli politician was barred
from entering as Australia. Albo says, Ozzie hasn't betrayed anyone.

Speaker 13 (19:31):
I think the Australians very much. One two things to happen. One,
they want people to stop killing each other, whether it
be Israelis or Palestinians. Second thing that they want is
for conflict to not be brought here.

Speaker 3 (19:47):
And finally, rules in the USA have found radioactive shrimp.
The FDA is investigating after a shipment of frozen rule
frozen shrimp from Indian She was found to be contaminated
with the radio active element caesium. Is that how you
pronounce it?

Speaker 2 (20:04):
Ends?

Speaker 9 (20:04):
Yep?

Speaker 3 (20:05):
Caesium won three seven? Did my reading at school? Which
is quite good, isn't it. It's unclear whether anyone has
eaten the nuclear shrimp.

Speaker 1 (20:13):
International correspondence with Ends and Eye Insurance Peace of Mind
for New Zealand business.

Speaker 3 (20:19):
Erica Stanford will be so proud of me. Dan Mitchinson,
US correspondent with US, Dan, welcome back. It's wonderful to
have you back with us.

Speaker 14 (20:26):
Good to be back with you too.

Speaker 3 (20:28):
Yeah, you've missed out on a lot of good stuff
going on in US politics. So talk to me about
the American boots on the ground in Ukraine.

Speaker 14 (20:34):
Well, Trump says he doesn't want boots on the ground,
but he might be willing to do some air support.
And apparently they've got the plans for this bilateral meeting
between Putin and Zelenski. But what I find interesting about this, Heather,
is President Trump says he thinks it would be better
if the meeting happened without him, And he said he
just wants to see what goes on. So from my

(20:56):
point of view, that means that he doesn't think anything
is going to come out and he wants to stay
as far away from it, saying, hey, I did my part.
We got these two together. It's it's Vlensky and and
Putin that can't you know, come together for an agreement.

Speaker 3 (21:10):
Yes, but the thing is, Zelensky and Potent are not
going to meet, like Poten is not going to meet
Zelensky unless there is an actual credible agreement on the
table that may well be signed. So why doesn't Trump
want to be there?

Speaker 14 (21:21):
Then that's the question. I mean, But you know, the
same thing could be said going into the last meeting
that Trump had with Putin. Did anybody really really think
that anything was going to come out of that?

Speaker 15 (21:33):
No?

Speaker 14 (21:34):
Absolutely not, And if you did, you were a fool.
Nothing came out of that. You know, they shook some hands,
they got some FaceTime on television, and there's a little
bit of hope down the road. But that's what this
whole thing has been about.

Speaker 3 (21:45):
Pump the brakes on this, OK, because you are not
the only person saying this, I mean you are you
are basically everybody, every analyst in the world are saying this.
Who thought that when Potent and Trump sat down that
there was going to be a deal? That's just ridiculous.

Speaker 14 (22:01):
Well I think so too. But you looked at the
media leading up to this and it.

Speaker 5 (22:04):
Was not good.

Speaker 3 (22:05):
No, But Dan, Dan, jeez, you you've come in and
you're like, wow, I didn't miss this at all, because
now I'm being attacked. But not because not because I
didn't think there was going to be a deal, but
because this is not how it works. You don't sit
down and get one deal like there a series of meetings,
multiple meetings over weeks before you get a deal. So
anyone thinking there was going to be a deal in

(22:25):
Alaska was an idiot. And anyone thinking there was going
to be a deal out of the White House meeting
it was an idiot. If there is a deal, it
takes a long time, doesn't it. So why don't we
all just settle down and see how it goes?

Speaker 14 (22:35):
I well said, because when the commentators were going, wow,
they're going into the third hour of this meeting, there's
something that's definitely going to keep coming out of word. No,
nothing's going to come out of a three hour meeting
like you said, these things lead weeks and months to
get a deal like this.

Speaker 3 (22:48):
Well, Dan, I'm glad you're back because you and I
are seeing eye to eye on this. Now, tell me
why the adults are buying the kids meals? Is it
a cost a living thing.

Speaker 14 (22:57):
Well, it's a little bit of a cost of living thing.
But and they're finding that these orders are up by
thirty percent in the last few years, even with all
the restaurant traffic down because the fast food restaurants here
have taken a hit because of the economy. But a
lot of it also has to do and I find
this kind of interesting with changing eating habits. A lot
of that has to do with those appetite suppressing medications

(23:17):
that are going out there. So they're saying that, you know,
and it's one way to save money at a fast
food place. You can get a kid's meal for four
to six bucks sit down restaurant and maybe six to nine,
maybe ten twelve dollars. So people are just sort of
looking at at you know, trying to lose it a
little bit of weight. They're saying, we don't want to
be completely full, we want something that we can get
that's relatively cost efficient.

Speaker 3 (23:36):
This is I'm taking some hot from this because you
know the and to be frank, your kid sized meals
are probably the same size as our adult sized meals
in New Zealand, so it's a good thing. Now, have
you got your tight tay cassiat.

Speaker 14 (23:49):
I don't, but I do have a couple of cassette
players lying around here. In fact, my son a few
years ago thought it was the coolest thing in the
world to have one of those things that you could
just have strapped to your belt and he could listen
to one cassette at a time. But apparently Taylor Swift
is going to be releasing her Life of a Showgirl
in October on vinyl and streaming and a cassette tape. Now,

(24:09):
I don't know about you. I don't know the last
time I bought a casset tape. I mean, I've got
them in the garage somewhere. But there's been attempts to
revive these things. I guess we have about a half
million cassettes that were sold in the last year here
in the US, which is nowhere near the four hundred
and forty four hundred and fifty.

Speaker 2 (24:22):
In the eighties.

Speaker 14 (24:24):
But the interesting thing real quick. Why there's a sort
of little resurgence here is music experts are saying that
tapes provide a different type of listening experience. You know,
it's not perfect, but you can flip it over, look
at the art, listen all the way through. And they
say that's another way to connect. I say that's an
idiot observation because those things were the most I mean
you remember how many times that is, the tape would

(24:44):
come out of your and you had to use a
pencil to try to stream it back in.

Speaker 3 (24:48):
Yeah, and then go, yep, I do that. I said,
bug of that. I don't know why the concerns this nonsense.
Thank you Dan, Dan Mintion sin yis correspondent. I just
that retro nostalgia makes you lose your mind day here
that all of your US correspondents are like Barry negative
towards Trump despite the positive things he's done. Do you

(25:08):
know what everybody? I just feel like everybody in the
world is itching to say Trump's an idiot, he was wrong.
I just feel just he may well be. It's entirely
possible that his way of banging heads diplomacy doesn't work,
But can we just see if it works? Before we
say it hasn't worked. Just Taihua on that quarter two
and Barry with the tds's.

Speaker 1 (25:28):
Next politics was centric credit, check your customers and get
payments Surtady.

Speaker 3 (25:33):
By the way, Luxan was on a coalition of the
willing phone call last night. I'll run you through it shortly.
It's thirteen away from five. Barry Soper, senior political correspondence
with US.

Speaker 6 (25:40):
Barry, good afternoon, Just say the outsid that you'll rule.
Remember it was Trump that was creating the expectation of
a ceasefire at the first meeting, and he said that
if Putin didn't agree to it, then there would be
severe sanctions against Russia. So was no are we other
than Trump that was creating that.

Speaker 3 (26:02):
Barry Trump's an idiot just because he's the rest of us.

Speaker 6 (26:07):
That's great. Thank you?

Speaker 3 (26:09):
Did you did you honestly need me to admit that
Trump's an idiot?

Speaker 6 (26:12):
No, that's great.

Speaker 3 (26:14):
At least we're on the same page. I'm still not
deranged like you. Listen, the Reserve Bank thoughts.

Speaker 6 (26:22):
Well, interesting isn't it that you go back over the
OCR when our old mate Adrian All was there, I
mean for since May twenty three. The OCR is at
five point five percent. It only moved in August last
year five point two five percent, and now it's down
to what three percent, So the move is in the

(26:44):
right direction at long last, that the screws are coming
off the economy. And if you look at the comments,
as I watched the news conference of the Reserve Bank today,
and you look at the comments, the Reserve banks are
saying that they expect growth from the end of this year,
and they say the worst is over, better times are

(27:05):
on the way. We can all only hope for that,
and hopefully a bit of an enthusiastic injection is put
into the economy as a result of it. The acting Governor,
Christian hawks me understand that you go to them on
he said, the American tariff war, which is pretty obvious
through a spanner in the works, but he says he
believes it is wearing off to some extent.

Speaker 8 (27:27):
There hasn't been the escalation that there could have been
in some of those measures of global policy. Uncertainty have
actually been falling more recently. But despite that, there has
been this cautiousness in businesses and consumers, and it has
lingered longer than we had anticipated. And so that's some
of the thinking around whether those sectors have just become

(27:51):
too cautious and need a bit more of a lift
than we had expected.

Speaker 6 (27:55):
Yeah, so let's hope today's movement that the expectation of
two more movements. In the short term, we'll see some
injection back into the economy and us doing a little bit.

Speaker 3 (28:06):
Yeah, definitely. Winston Peters wanting to appear before the COVID
inquiry is quite an interesting move because he hasn't been called,
is he.

Speaker 6 (28:13):
No, he hasn't been called. And he tweeted today that look,
he's writing to the COVID Royal Commission saying that he'll
put his name up. He's happy to appear in public
for transparency reasons. And I do remember hither that the
first four tier alert level lockdown, it was announced on

(28:34):
the twenty first of March twenty twenty. Don't think that's
the year of the election that Winston was voted out
of office, so he didn't have a long time at
the desk before he lost his role in Parliament. But nevertheless,
I remember it was a Saturday, the twenty first of March,
and I remember ringing Winston and saying, what the hell

(28:55):
is going on here, and it was the old go early,
go fast, or go fast, go early early, go hard,
go hard sorry, And you know that's Winston. It was
beyond him at the time. He said, well, for God's sake,
you know, we should take a step back. And I
remember then he was questioning the validity of doing what

(29:15):
the government was doing. So I think he will have
a fair part to play in this inquiry, even though
his experience of it in terms of decision making going
further on is very limited.

Speaker 3 (29:28):
It is very limited. Hey, really quickly, what did you
make of Helen Clark's comments today?

Speaker 6 (29:32):
Well, you know, we hear a lot of a lot
of this, don't we that women suffer greatly in politics
through social media? And I'm sure they do, but I'm sorry,
if you're in the public eye hard and up, everybody suffers.
I mean, I've gone off Twitter because I was tired
of the abuse that I was getting day out to
day out to day and violent abuse. It wasn't tired,

(29:55):
just mild. And Helen Clark talks about the keyboard warrior
and that's what they are. They're anonymous behind their little
keyboards and can say what they like and get to
whoever they like. I think the best thing to do.
If you don't like it, don't read it.

Speaker 3 (30:12):
Yeah, but just under you know, she loved, which is
what the comments were, actually loves the old social media,
so she'll be reading it all. Hey, thank you, very
appreciate it, very sober, senior political correspondent. We'll talk about
those comments later on in the program Eight Away from five.

Speaker 1 (30:23):
Putting the tough questions to the newspeakers, the mic asking.

Speaker 11 (30:27):
Breakfast tariffs are fifteen percent worse than places like the
UK and Australia. Of course, the Hoper's arms can be
twisted and Todd McLay Trade Minister back with us, what
chance you get something tangible?

Speaker 16 (30:37):
Yeah, look, I'm not going there to get the terifreight
off and that's not going to happen.

Speaker 2 (30:41):
So I want to be pretty clear.

Speaker 16 (30:42):
But what I'm going up to do is one express
you know the harm that I think that's doing to trade.
But then secondly, what's the process for us to have
that tifray come down? If we move back to the
US having a surplus of deaf said which actually most
of the time our trade has been in the other direction.

Speaker 2 (30:58):
Our surplus ism is five hundred million.

Speaker 11 (31:01):
Back tomorrow at six am the Mike Hosking Breakfast with
rain Driver News Talk.

Speaker 3 (31:06):
Zaid b, Hey, you will have heard this morning on
Mike's show he was saying that they're using our wool
for the tennis balls. Apparently they're using our wool for
the tennis balls because our will is really light, which
means the tennis ball is light. We're going to talk
to New Zealand Wool about that very shortly four, just
after five o'clock, four away from five. Now, Chris Luxon
did actually turn up. I'm happy to report to you

(31:26):
for the latest coalition of the Willing phone call which
happened last night. Judging from what was being said behind
the scenes, I get this strong impression he was quite
embarrassed at the way that it played out and everybody going,
what do you mean you were sleeping when this meeting
was happening. So he turned up for the one last
night and he took Judith with him and they were
sitting in a kind of like New Zealand version of

(31:47):
a situation room, and they took a selfie I think,
to prove that they were in fact there, and then
Judith posted it on her if he'd posted, it might
have been two obbies. But she posted it on her
Twitter account, and you know that they were there, and
she posted it at twelve twenty three A, so she
didn't wait a she's out of there, twelve twenty three
posted on Twitter. We were there. We'll have to take

(32:08):
their word for it, because that is not the time
their watches were showing. Because I did do that thing.
I zoomed in on her watch and it was up
there we go ten forty and his watch, oh yep,
similar So well, but that's entirely possible that the thing
did run for a couple of hours, because I'm told
that it rang. So maybe they took the selfie at
the start. I'm told that these are long meetings. They're
posted at the end. Here's an interesting thing, though, Chris

(32:30):
Luxen runs his watch five minutes early. So her watch
was saying twenty to eleven, but his watch was saying
quarter to eleven. And I don't know if you know that,
but a lot of successful people do that.

Speaker 17 (32:40):
Well, I no, no, hang on a minute, either, if
were we don't know objectively what time it was. Maybe
Judith Collins just runs her watch fifteen minutes late.

Speaker 3 (32:46):
Five five later because you did. Eerka is not proud
of you right now around fast okay anyway, So there
you go. They were there. That's the most important thing
to do. And if you can't figure out why successful
people run and they watch us five minutes earlier, we
can talk about it later on. Just let me know.
We'll talk to Christian Reserve Bank Governor Acting Governor. Next

(33:07):
News TALKSTB, the.

Speaker 1 (33:15):
Only drive show you can try the truck to ask
the questions, get the answers, find a FA and give
the analysis. Here the duplicy Ellen Drive with One New
Zealand and the power of satellite Mobile News Talks v Afternoon.

Speaker 3 (33:30):
The ocr has been cut. It's come down twenty five
basis points to three percent, and the new projection is
it'll be cut a couple more times to two and
a half percent.

Speaker 1 (33:38):
Now.

Speaker 3 (33:38):
The Reserve Bank thinks we're through the worst with the recession,
but didn't agree amongst themselves on how much to cut.
Most of the committee today voted for twenty five basis points,
but two of them voted for a double cut. Christian
Hawksby is the Acting Reserve Bank Governor High Christian good eight,
what makes you think that the worst is over.

Speaker 9 (33:56):
Because we've got with lowered interest rates, it's a long
way now, we're sent out a pretty strong signal that
we're willing to lower them further as required.

Speaker 15 (34:07):
We've got other drivers.

Speaker 9 (34:09):
Of the economy like high commodity prices, and when you
add that all up, we think that Q two was
a bit of a blipping. With that support, we should
be coming out the other end around now.

Speaker 3 (34:21):
How long before it feels better though, because I've been
speaking to some people who are in business who think
it might not be until the start of twenty seven.

Speaker 9 (34:29):
And absolutely, you know, just acknowledge also that it's a
real two speed economy at the moment. And it does
depend on who you talk to what part of the country.
The regions are doing much better than the cities, particularly
Auckland and Wellington are doing it tough at the moment.
Some of the data is actually picking up in July,
so we are seeing some of that data pick up.

(34:52):
It might not feel like it's roaring through the middle
of this year, but by the end of this year
and into the beginning of next year, we think it
will okay.

Speaker 3 (35:01):
Do you think you made a mistake not cutting in July.

Speaker 9 (35:06):
No, we just you know, we're always reassessing the economy
and where things are at. We saw early signs that
things were faltering, and we sent a signal in July
that although we didn't cut, we were open to it.

Speaker 3 (35:21):
Shouldn't you have I mean, if you could see that
things were faltering and you've cut now, you should have
cut in July.

Speaker 9 (35:28):
The beauty of monetary policy is we meet every six
weeks and that means, you know, we can change course.
And we've changed course significantly. In August we'll put out
an OCR projection which is significantly down on May, and
that's really provided a strong signal that interest rates are

(35:49):
falling in there to support the economy.

Speaker 3 (35:51):
Were you in the camp twenty five basis points or
fifty basis points.

Speaker 9 (35:55):
We don't disclose who voted what, but as year of
the committee I speak to you know the outlock and
the risks and the where we landed collectively.

Speaker 3 (36:08):
I think you've made a mistake not going for fifty.
Do you think I'm wrong?

Speaker 2 (36:13):
Oh?

Speaker 9 (36:13):
Look, we had two members who were in your camp
and their views were I think all of us acknowledged
that there is a lot of there's both upside and
downside risk around our central outlock.

Speaker 3 (36:26):
Tell me risk, Christian, tell me what's the risk? And
having gone for fifty.

Speaker 9 (36:31):
The risk is that Q two was an aberration, that
it's a bit of a blip the economy kicks on.
But also you've got to remember that inflation is rising
and we're projecting CPI inflation to be at three percent.

Speaker 3 (36:49):
Yes, but you know that you need to look through
it because because what's happening to gold economy will bring
our inflation down again.

Speaker 9 (36:56):
That yes, and you've got onto the argument for the fifty,
The argument do even no change is the risk?

Speaker 3 (37:02):
No, never mind that I want you to tell me
why not fifty because fifty is obvious.

Speaker 9 (37:09):
Two of our members voted for fifty and their view
was around, you know, providing that strong signal and getting
that kick start. The reason not to do fifty is
that by doing twenty five and signaling putting out a
forward track that actually puts interest rates down to two
and a half, we send out a strong signal, we
get market rates moving, which they have. Market rates have

(37:32):
lowered because we've surprised the markets today, and then we
meet in six weeks time and things will go bigger.
Running faster or slower than the central for just to that.

Speaker 3 (37:43):
Here's the thing you're going to cut in six weeks,
so why not double cut today? This is a fighting
charms Christian. There are businesses falling over today because of
what is going on.

Speaker 9 (37:56):
It feels different in different parts of the country. And
I think if we had we set interest rates for
Auckland and Auckland only, they'd probably be lower than where
we are. But we have to set interest rates for
the whole country. There are some parts of the country
that are doing quite well, and so we just have
to look at that an aggregate.

Speaker 3 (38:18):
Christian. Thank you so much for your time and to
appreciate a Christian hawksby acting Reserve Bank Governor.

Speaker 2 (38:22):
Heather du for see Ellen as you probably.

Speaker 3 (38:25):
Know full well if you've got a teenager in the
house right now. The secondary school teachers have been on
strike today, picketing around the country, included outside Erica Stanford's office.
The PPTA president Chris Abercrombie has been out there to
and he's with us. Hello, christ in the teachers versus
Erica Stanford battle. I think that Erica probably wins the
public support. What do you think, Oh well.

Speaker 18 (38:46):
I wouldn't say it's a battle, to be honest, I say,
we just want to make sure that we can get
the best for public education. Erica has come out and said,
you know, she wants a world class education system. We
want the same. So there's definitely common ground there, but
it's just about how we get to that space.

Speaker 3 (39:00):
Okay, do you do you think I mean, it's been
a while now since you announced the strike, do you
think public have swung in behind you or not?

Speaker 2 (39:07):
Oh?

Speaker 18 (39:07):
Absolutely, we believe that. You know, we just needed to
see the support today. We had on various peckets, heaps
of two D in, heaps of on on online, heaps
in person. You know, parents know what we're doing and
we're not why are.

Speaker 2 (39:18):
We're doing it? So we definitely think we've got the support.

Speaker 3 (39:21):
Great, So when's the next strike?

Speaker 18 (39:23):
Well, hopefully we won't need to have one, but we
do have some rostering home scheduled for the last week
of this term, the fifteenth of September onwards. We're really
hopeful we don't need to do that and that the
government comes to the party. We're meeting next week for bargaining,
so we're just really hopeful that we won't need to
do that industrial action.

Speaker 3 (39:40):
Me too, Chris, Thank you very much. Chris Abercrombie a
PBTA president Heather due for c Ellen, the woman who
was in iced attention in the US, Sarah Shaw has
spoken for the first time since she was released over
the weekend. She was saying that she did everything to
try to cross the border legally. I spoke to my
attorney about it, and you know, she kind of said, like,
you'll be fine. Your PaperWorks all valid, so you know,

(40:01):
like I did. She's kind of like that would be
like worst case scenario, but I really kind of didn't
think that that was going to happen. Now, she reckons
that when she was released, she was basically let out
in the middle of Texas without her passport and with
an ankle bracelet on. She's been speaking to K five
News in Washington. I was like the minority in that situation.
Most of the people that were there spoke Spanish. Now

(40:24):
she's home safe at the moment. She still has more
court appearances though ahead of her, in order to do
things like get that ankle bracelet off, which she still
has on and the go fundme page, which was set
up by her best friend Victoria has got over one
hundred thousand New Zealand dollars in donations for her legal
fees fourteen past five. Hey, the old saying goes, you
should work smarter, not harder, right, But is your credit

(40:44):
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(41:05):
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(41:26):
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Speaker 2 (41:32):
Ever do for ce Ellen, I could.

Speaker 3 (41:34):
Say we've got a huge financial reporting going on. We're
in the reporting season obviously with the listed Companies've got
Fletcher after six huge loss, and we've got Spark after
six thirty. And I'm going to run you through the
details of what's been reported before we get to them.
Eighteen past five right now. Now, ke We wool is
said to be used in the tennis balls for this
year's US Open. Nathan Watt is the commercial general manager

(41:56):
at the New Zealand Wall Services and with us. Hey, Nathan,
how are you well? Thank you? And now I thought
it was because wool our wool is light, but it's
actually because our wall is white, isn't it.

Speaker 19 (42:06):
Yeah, certainly it's because our wall's white and clean from
vegetable matter. So yeah, our wall's the best in the
world for tennis balls, and that's why they buy it
from us.

Speaker 3 (42:15):
So being super white means that it colors up really
nicely without any blemishes or anything.

Speaker 15 (42:20):
One hundred percent. Absolutely, we've got the best colored wall
in the world for strong wool, so it's perfect for
tennis ball felt.

Speaker 3 (42:26):
If you don't have white wool, like, what are other
people will looking like?

Speaker 19 (42:30):
Well, it could be dark shades, it could contaminate with
black fiber.

Speaker 15 (42:34):
Or yeah, it could.

Speaker 19 (42:36):
Be quite a hard yellow which can't really dye fluorescent colors.
So New Zealand wolves just perfect for dyeing fluorescent colors.

Speaker 3 (42:42):
And what were you saying before, what is it that
causes the wall to change color?

Speaker 15 (42:46):
Well, different atmospheric conditions and breeds.

Speaker 19 (42:50):
So New Zealand's perfect conditions for grown white wall, and
our breeds have been made for over one hundred years of.

Speaker 15 (42:56):
Grown white wall, so it just suits perfectly.

Speaker 3 (42:58):
Oh brilliant. Now it's one that I mean, it's wonderful
that that's being used for the bulls. But there's no
branding on the balls, right, so the average punter sitting
down does not know that that's a little bit of
New Zealand being smacked around the court, do they?

Speaker 2 (43:09):
No?

Speaker 19 (43:10):
Unfortunately not, Yeah, because if it's a blend of nylon
mam wall.

Speaker 15 (43:14):
It's not really advertised as that.

Speaker 19 (43:16):
But yeah, we're working with Tti and Wilson down the
supply chain to start marketing our natural fiber and their
credentials that Wall has to try and promote a tennis
ball as a natural product. So yeah, we're working with
that and we're doing some market research at the moment.

Speaker 3 (43:32):
Brilliant stuff. Do you think as a result of it,
I mean, is it possible that they love the tennisbals
that they smack around the go jezon need to get
hold some of these tennis balls and suddenly all these
orders come in and you guys start selling heaps of wall.

Speaker 15 (43:45):
Well, it's already a huge market already.

Speaker 19 (43:47):
They tti used around about two hundre and a half
million kilos of the New Zealand war already, which sort
of equates around about two hundred and fifty million tennibals.
And that's growing dramatically in the last five years, the
growth of adult So look, it's ye one hundred percent.

Speaker 2 (44:04):
The more the more demand the better.

Speaker 19 (44:06):
But it's already pretty big demand. I'd say they buy
probably two or three percent of the New Zealand War
club already.

Speaker 3 (44:11):
Brilliant. Hey, thank you very much, Nathan, appreciate it and
best of luck with everything. Nathan. What general manager Commercial
New Zealand Wall Services, Heather, I agree with you. The
Reserve Bank should have cut fifty basis points got relief
to household sooner. They are fully forecasting twenty five basis
points in October, but there's no key data, no CPI,
no labor market data ahead of the review, so they
need to just get on with it. What is interesting

(44:34):
is that they're basically saying the reason, while we've all
had these cuts, we're a huge number of cuts, haven't
we in the last wee world? What was it like
two point five percent or something like that. It's not
flowing through. So you're getting a little bit more money
in your back pocket, but you're not spending it. And
you're not spending it because where it's going now is
not out to restaurants, out to the movies, out to

(44:54):
buying yourself some new kicks. It's going into your rates.
So I feel like that was an of like that
was an obvious thing that they should have taken into
account that just because people have more money in their
back pocket doesn't mean they're going to spend it because
it's just gonna get sucked up by some other thing
that's basically acting the same as the ocars nowadays in
constraining how mate money you've got. Anyway, whatever they are

(45:14):
the ones with the economics degrees surprisingly five twenty two,
cutting through.

Speaker 2 (45:19):
The noise to get the facts.

Speaker 1 (45:21):
It's Heather do for cy Ellen Drive with one New
Zealand coverage like no one else's news talks.

Speaker 3 (45:27):
They'd be Yeah, this guy's worse than the last one.
I think it's Christian is worse than Adrian. They didn't
surprise the market today. A five year old knows it
needed to be at least twenty five basis points. Thank you, Paul,
five twenty four. Now, obviously I have to disagree with
Hallan Clark's comments today that the departure of Jacinda dun
from politics is quote devastating for women around the world.
I suspect that there were quite a lot of women

(45:48):
in this country, especially in Auckland, who felt something closer
to relief when she announced her resignation. But what I
really disagree with Halen Clark on is the suggestion from
either her or the reporter of the story this and
it's really hard to know which one of them was
coming from, but the suggestion that just Cinda left because
people abused her because she was a woman, That is
not what happened. Jacinda was abused. I totally agree with that.

(46:10):
But it wasn't because she's a woman. It was because
of what she did and what she said and the
decisions that she made during unprecedented times and times that
affected our lives in a way that government has never
affected our lives before, therefore making us feel things extremely intensely.
I was listening the other day to something that came
out of her mouth during COVID, and with the passing

(46:32):
of time, I found it even more shocking than I
did at the time that she said it, which is
when she said single source of truth. I mean, with
time that really hasn't aged well, that's even more bizarre
and sinister than it was at the time. I think
if she was a man who did all of the
things that she did, she would have been just as
harshly abused. I mean, just look at Boris Johnson in
the UK. Here is the subject of ridicule over there

(46:53):
for the way that he led during COVID. Look at
Grant Robinson here is the subject of scorn, who doesn't
give any interviews anymore about his book and the reason
he scorned us for the way that he led during COVID.
I would say that he's less hated than Jacinda, but
that's probably a reflection of the fact that we saw
less of him and she was the one fronting every
single one PM press conference taking the glory during COVID.

(47:14):
Now this is not to say that I think that
Jacinda should be abused. I don't think that she should
be abused to the extent that she has or at all.
But I think a lot of this is actually in
her hands. I think if she chose to appear publicly
for the COVID inquiry and to be seen to take responsibility,
and be seen to express sympathy and empathy and be
seen to understand what people feel, I feel like the
restorative justice element of that would lead a lot of

(47:36):
people to forgive her. Perhaps, So it's really up to
her in some ways as to how much of this continues.
It's not because she's a woman that's a cop out.
It's because she made tough calls, and many of them
were bad calls, and she doesn't appear to be at
all sorry for them.

Speaker 2 (47:50):
Heather Doos the ALM.

Speaker 3 (47:52):
Hey, if you were listening on Monday, you might have
heard me read out a text to you saying that
the Marui Gasfield and methodics are going to close in
December next time.

Speaker 9 (48:00):
Year.

Speaker 3 (48:00):
Business Desk is now running a report along the same lines.
Rumors they say have been circulating in the sector that
decommissioning is imminent. Its operator OMV has confirmed a Business
Desk that MAUI is approaching the end of its productive
life and but that no decisions have been made on
when the field would close. Some are saying early twenty
twenty six, and as Business Desk says, this puts the

(48:23):
country's precarious gas supply at even greater risks. So if
you're on gas, boy, oh boy, do you need to
start thinking fast about converting A News is next and
then Winston on wanting to appear for the COVID inquiry iven.

Speaker 1 (48:39):
You hard questions, strong opinion here the duplicy Ellen drive
with one New Zealand and the power of satellite mobile
news talk said, be santasim Lios.

Speaker 3 (48:57):
Very well past.

Speaker 2 (49:01):
The time.

Speaker 3 (49:02):
We've got Huddle standing by and the boss of Fletcher
is going to be with us after six o'clock. Talker
through their numbers out today not good four hundred and
twenty million dollar loss, worse than last year's loss. You
want an interesting number, how about this one. Spark has
cut about thirteen hundred full time employees. That is more
people cut by one corporate than Nikola Willis and David

(49:23):
Seymour have managed to cut from the public service, which
at last count was about nine hundred and eighty four.
Thirteen hundred versus nine hundred and eighty four. And remember,
the public service has about sixty thousand, sixty three thousand people,
so you can afford to lose quite a few. Spark
is now down to about four thousand. But that's what
happens when you're playing with your own money. Talk to
the Spark CEO after six thirty. Right now, it's twenty

(49:44):
four away from five.

Speaker 2 (49:46):
Heather duplicylen five from six. Sorry, Heather duplicylen.

Speaker 3 (49:51):
Tie that again, numbers, Okay, here we go. Winston Peters
says he's writing to the COVID nineteen Royal Commission, volunteering
to answer any questions they have in public and he's
with us. Now, Hello Winston, Hello Winston. What could you
tell them that they need to know given that you
weren't in government in the period that they're looking at.

Speaker 20 (50:10):
Look, first of all, it's the right thing to do.
Don't forget the public was promised transparent accountability and the
inquiry was designed so that we don't make the same
mistakes again and you can't hide behind lawyers and giving
all sorts of excuses when in fact there should be accountability,
transparency and getting to the public's trust so that they
can have confidence that we've learned something from this experience.

Speaker 3 (50:33):
Look, I agree with you on all of that, but
what can you tell them about that period that they
need to know because you weren't in government.

Speaker 20 (50:40):
Yeah, but take the first inquiry they set up. I said,
from the moment I thought it was a sham. I
was de wut Prime Minister when the pandemic first started.
The original query never even asked me to submit, and
that's how shallow and pointed it was. And that's why
we demanded and disagreed with the Act of National for
a proper inquiry with public submissions and decision makers, including

(51:01):
me appearing at it.

Speaker 3 (51:03):
So would you like this inquiry to just go slightly
beyond its remit in its terms of reference and actually
look back at the time when you were in government.

Speaker 20 (51:12):
Well, I'm very happy to do that. In oh most
astonishing thing, the Deputy parymis at the time were not
even asked. So there's something funny here and that's why
we asked for a proper inquiry and we're volunteering it now.
And even though at the time we were not in governments,
nevertheless we were seriously part of watching this process and

(51:35):
indeed ended up supporting those people who were protesting on
the grounds of Parliament. In some cases had lost thirty
five years of their job and the employment or their businesses.
It was massive and I saw lawyers and doctors and
norses of people there and they weren't going down a
rabbit hole. They were demanding accountability.

Speaker 3 (51:54):
Do you regret any COVID decisions that you made?

Speaker 20 (51:59):
Look, I did get very soon to the piece, because
I can tell you what happened. I was there one
day and when I made a saben to the Australian
media correcting something that they were running. It was the
allegation supported by Disinta, dun and Bloomfield, that the COVID
had got to New Zealand from a company called America

(52:19):
hold Out of Melbourne, Australia. And the moment I heard
I thought this has got to be fictitious. Because there
were twolve hundred workers there and two had it, so
they could have got it from the factory. Now, the
point that held that and Bloomfield of Magan was that
it came here by way of product. And this was
an ugment. They maintained for three days against what I

(52:40):
was saying, until the merry old head person rang up
and said, excuse me, we haven't sent you any product
before and a half months. Wow, you know what I mean?

Speaker 2 (52:51):
So what part of that regret?

Speaker 20 (52:52):
And the second part? And the second part was I'm
sitting there and I'm hearing people giving absolute answers, and
I thought they can't possibly Yeah, certain, they can't bossibly know?

Speaker 3 (53:01):
Why were they that certain?

Speaker 2 (53:03):
Was it was?

Speaker 21 (53:03):
It?

Speaker 3 (53:03):
Was it a deliberate attempt to mislead the public with
providing them some sort of a cockonball story, or did
they genuinely believe it?

Speaker 20 (53:11):
Well, you got two answers to your question. Either they
were being deliberately deceptive or they were just being wantonly naive.

Speaker 3 (53:19):
Take your pick. Okay, Hey, you didn't really get Trevor
back early, did you? I mean, if he's he's due
to finish in January and he comes back in November.
That's not really early, is it.

Speaker 20 (53:30):
Well, if you don't think four months earlier, I do.

Speaker 3 (53:32):
It's not four months. What are you talking about? December?
That's only two months, three months early.

Speaker 20 (53:41):
It is not the full term at all. And there
are others that I've extended their term for two more years.

Speaker 3 (53:47):
Why didn't you call him? Why didn't you call him back?
Recall him much much earlier you've had, You've had almost
two years.

Speaker 20 (53:53):
To do it, because you we've been making the claim
at the very beginning that all of us being was
vindictive as being Muldoon and here what's going way back when?
I bet you can't remember that time because you won't burn.
But I was, and I wasn't to be accused of
that sort of behavior, and I thought, no, no, he
should have offered his resignation to me from the go.

Speaker 3 (54:12):
Anyway, Okay, Winston, thank you. I appreciate your time. As always,
Winston Peter's New Zealand First Leader.

Speaker 1 (54:19):
The Huddle with New Zealand Southeby's International Realty Unique Homes
uniquely for you.

Speaker 3 (54:25):
On the Huddle with me this evening, we have Jordan
Williams Taxpayers Union, Jack tame Q and I host host
of Saturday Mornings on z B. Hello you too. I'm
going to come back to Winston and all this stuff
about COVID, But can I start with you, Jordan on
the ocr Should the Reserve Bank have cut double today?

Speaker 19 (54:41):
Well, it's it's pretty clear that you know that the
economy is in trouble and the government's in trouble on
the economy. I don't know if you saw, but Nikola
Willis made quite an extraordinary attack on the Taxpayer's Union
for pointing out the blindly obvious, which is that spending
is continues to increase, that is driving the cost of
living and making as a huge anchor on the economy.

(55:04):
And she had a big swipe at the Taxpayers Union,
basically resorting to a left wing character sure that we want.

Speaker 15 (55:11):
Health in education, hospitals and.

Speaker 19 (55:13):
Schools cut, which is nonsense on stilts. She's clearly under
real pressure and she cited instead, I wouldn't listen to.

Speaker 15 (55:20):
The taxpayers Union, listen to the Reserve Bank.

Speaker 19 (55:22):
The Reserve banks say we're going to cut spending in
the future, tense, ignoring the fact that under Nikola Willis,
it's almost as if she hasn't delivered to budgets. She's
increased spending relative to Grant Robinson, relative to the size
of the economy. She's clearly under real pressure.

Speaker 3 (55:37):
Yeah, I think so too, Jack. Should they have double cut?

Speaker 5 (55:41):
Well, I think if you look at the inflation numbers,
I mean they are getting you know, if we go
from the most recent inflation numbers, they're getting pretty high
to the period within the target band. And let us
not forget that the very first step that this new
government took was to amend the Reserve Bank Act so
that they would have the soul focused on keeping inflation.

Speaker 3 (56:01):
But they need to look through this, right and they
know themselves. They need to look through this because inflation
is going to come back because of what's going on
in the economy, so that they should be.

Speaker 2 (56:11):
To come through.

Speaker 5 (56:11):
But at the moment, at the moment, it's at two
point seven percent, and all you need is for a
little shop through, you know, a tariff being fifteen percent
rather than ten percent or something like that, and all
of a sudden we start nudging north of the upper
part of that band. And what is the result being
been told to focus ruthlessly on inflation. So yeah, I mean,
I think I can understand why they've know you know

(56:34):
why the why the committee was split today, But I'm
not surprised they went with twenty five points. I think
the real question is going to be whether or not
they cut it two more times, heaving into twenty twenty six,
which is obviously not where they were expecting their last update.

Speaker 3 (56:47):
I reckon Jordan that the government should be getting quite
nervous about where this economy is going and whether it
actually starts feeling any better for us in the year's time.

Speaker 19 (56:56):
They are they are, I mean, the Jets just put
put his finger on the point, which is that the government.
Because the government hasn't followed through on its promises to
get spending under control, it's kept inflation high, which means
we can't get the necessarily low ocr that we need
to get the economy back into shape. It's the it's

(57:19):
a continuation of the sort of of the Durn Robinson
era of simply thinking that jawbone in the economy, running
a comm strategy is enough to get us back on track.
You know, the work just hasn't been done. Look, I
understand that, you know, politicians have to spin, but it's
starting to turn into a little bit of Nikola Willis

(57:42):
parallel universe where she claims to have cut spending and I,
you know you rightly had her up on this and
that they're getting the books into shape. Let's go through
the fact she's spending more. We're borrowing more per day
right now than when Grant Robinson left office, and we
are actually markets determining. You look at our ten year
bond rate, the costs of at cost of the crown.

(58:05):
Despite our relatively low ocr we're paying now second only
to the UK in terms of their ten year bond
ten ye guilt rate.

Speaker 15 (58:13):
You know, the collacxons are going off.

Speaker 3 (58:15):
Yeah, I've got to take a break, but Jack, I
want to get your take when we come back on
how much trouble Nichol is in quarter two?

Speaker 1 (58:22):
The huddle with New Zealand Southeby's International Realty, the ones
for unmasked results.

Speaker 3 (58:28):
Right, you're back with a huddle, Jack Tame Jordan Williams.
Jack Hosking this morning said he would take Erica Stanford
over Nikola Willis.

Speaker 7 (58:34):
Now.

Speaker 3 (58:34):
A year ago, Nikola Willis was the heir apparent. So
what's happened?

Speaker 5 (58:39):
Ah, Well, the economy's not doing very well. Whereas I
think the majority of New Zealander is probably look at
Erica stanfords handling of the education portfolio and say that
she's right on top of things at the moment, and
that actually a lot of the reforms that she's proposing
are long overdue.

Speaker 3 (58:55):
And how much trouble is she in? How much trouble
is it because you realize that Chris just let me
finish my quick You realize Chris Luction's fortunes are so
tied to what MICHAELA. Willis is doing because the pair
of them is said that they would get the economy
back contract. So how much trouble is she personally in
that position?

Speaker 5 (59:10):
Yeah, I mean I think that I think the entire
government's fortunes rest on the state of the economy. And look,
while things are dire at the moment, you have to
say that over the next twelve months or so, on
the balance of probabilities, even though I don't think our
economy is going to be absolutely singing in twelve time,
on the balance of probabilities, we probably will have turned

(59:31):
a bit of a corner. At the very least, sentiment
is likely to be a little more positive than it
is today. That probably August well for Nicola Willis. I
think if they were shack things up before the election
and mover out of the finance portfolio, that would be
seen as a bit of panic station. But yeah, I mean,
you know, all you need is for things to not
turn around. I mean, I think that they've been surprised

(59:53):
at how long it has taken to turn this bus,
and yeah, who knows where it's going to go over
the next six month or time.

Speaker 3 (01:00:00):
That business with Winston wanting to appear before the COVID
inquiry is just a stunt, isn't it.

Speaker 19 (01:00:06):
Yeah, But I mean it's it's a relatively good one.
You've been reading that I was going to say reading
the tea leaves, but that Brax's reading the taxpas with
the snappole that we did carried by the Herald on
the weekend that actually even even labor voters think it's
wrong for our the decision makers for what were the

(01:00:26):
most significant public policy decisions in our lifetime, not to
front up this sort of weird approach, that sort of
a private behind closed or courts and some decision provide
the public accountability. Well, on that basis, we wouldn't have
public access to courts. I don't know about you heither,
but I want to hear There's lots of questions I
want here, and not just a report on I want

(01:00:50):
to hear them answer to judge for myself and I
think for you know, I'm not a you know, I'm
not a COVID cooker, but you know, I mean, for
for a lot of his Islanders, this really impacted their
I don't mean to we did to disrespectful on that,
but you know, it impacted the confidence and institutions, and
there is a public good in having and even if
everything was justified, we should be a mature democracy that

(01:01:14):
does require our leaders to front up. I think it's
a real failing on the commissioners on this for not
actually understanding what the job is. This idea that well,
we don't want it to turn adversarial or political. Really yeah,
well politics, there's the accountability mechanism here.

Speaker 3 (01:01:32):
I agree. What do you think, Jack.

Speaker 5 (01:01:35):
Well, I'm reading a press release from New Zealand. First,
when the when the Phase two of the COVID inquiry
was announced, at which point you might remember they invoked
the agree to disagree clause. So what New Zealand first
wanted was for the first phase to be scrapped and expanded.
In reading this press release, they do say they support
the Phase two of the second of the of the

(01:01:58):
Commission of Inquiry, which is interesting because, of course the
Phase two terms of reference explicitly stated that it would
be the period from February twenty twenty one. I mean,
I think both of the phases of the COVID Inquiry
have been imperfect. I think the first phase had two
narrow terms of reference. I think there are a couple
of vital things, including vaccine efficacy and monetary policy, that

(01:02:19):
should have been considered in the first phase. And the
second phase, I think it's just a continuation of the
politicization of all of this, and that if you really
wanted an earnest accounting for the COVID decisions, and I
think we all deserve it.

Speaker 15 (01:02:32):
I think it's a.

Speaker 5 (01:02:32):
Missed opportunity for politicians not to be fronting publicly this
time around. But if you really wanted a sincere accounting
for those decisions, surely you go from the start of
the pandemic, wouldn't you.

Speaker 15 (01:02:44):
So you know, for ws and.

Speaker 5 (01:02:45):
Peters to say, oh, look, I'm prepared to appear before it.

Speaker 9 (01:02:48):
Well, that's well and.

Speaker 5 (01:02:49):
Good, but he was a private citizen. He wasn't a
member of parliament during the period. The second phase is consideringly.

Speaker 3 (01:02:55):
Any of us could just appear and do the same thing. Hey, guys,
thank you as always appreciated. Jack Tame, Jordan Williams A
huddle eight away from six.

Speaker 1 (01:03:01):
It's the Heather Duper c Allen Drive Full Show podcast
on my Art Radio powered by News Talk ZB.

Speaker 3 (01:03:10):
Heather, have you forgotten already about the interview that you
had yesterday with the HSBC economist. His view of the
economy going forward was positive compared to the doom and
gloom that you were proposing. Now, that is that is fair?
That is fair. He did actually have a reasonably a
reasonably positive outlook on it, and he's actually been pretty
he's been pretty bullish on it the whole way through.

(01:03:31):
I think it is going to get better. What I'm
trying to say is, I don't know that it's going
to be like yay woo, break out the party. Let's
we're all making heap of my knee by this time
next year. I think it's just better, right, and better off.
A low base is really not but I'll tell you what.
Let's ask Andrew who is the boss of Andrew Reading,

(01:03:51):
who's the boss of Fletcher. He's going to be with
us next he and he's a guy out there doing
the business and as finding it a grind at the minute,
and he can give us his take. He actually is
an expert on what's going on with the economy, so
we'll find out from him. Now. Somebody has made a
game online where you can beat up Chris Bishop. It's
five to six by the way, So there is a
backstory to this. It's by a lot called Live Wellington,

(01:04:11):
and they're angry with Chris Bishop and accusing him of
overreach because he's toasted all the character areas in Wellington.
Do you know how gone through and just done that
and been like get rid of those villas, build some
apartment blocks or whatever. They're not happy about it, so
they took a judicial review and they lost in the
High Court and as a result of that, they now
owe the Crown and Wellington City Council about forty thousand dollars.
So they've set up this, they've set up this game.

(01:04:35):
They've made this game to try to raise money. So
the game is basically it's called Beat the Bish and
you go on you go to it Beat Thebish dot
co dot nz and when you get in there you
get to choose a character, and you've got a bunch
of characters you could choose. There's an environmentalist. These are
all people who will be angry with Chris Bishop. An environmentalist,
a cyclist who looks just like shades of Julie and

(01:04:56):
Jena in that character. There is a homeowner, elderly couples
standing outside of home. You've got the Tett supporter who
was just Stan Walker right because of what happened at
the concert. And then you've got the Gordon Wilson flats.
You can choose any of these characters. And then when
you play the game, Bish's head comes at you like
little cannonballs from the side of the screen and you
have to hip the head before it reaches you. And

(01:05:18):
you've got a number of implements that you can throw
at the head. You've got the treaty, You've got a
coffee cup. You've got a pie because he loves a pie.
You've got a ballot booth, you've got a cricket bat
because he loves cricket. And then you've got Don mcglashan's head,
and because Don mclashon called him a dick. Remember, so
you throw them at Chris Bishop and you fire away
his head and if any of the heads touched you,
then you lose the game. It is repetitive and boring,

(01:05:40):
but there is something fun. There is something weirdly fun
about heading the head of a politician or a cricket
bat in a game. So go ahead, go and do it.
Beat the bush dot co dot in his head. By
the way, I've been saying Robertson's book, you know how
Grant and just Senda rarely hate David Cunliff and Grant
Robertson's the extract from the book that I read was
that interesting about David Cunliff, and it certainly wasn't worth

(01:06:03):
getting the lawyers out for. But now I'm reading from
Steve Braunius that, in fact, in another part of the book,
he claims that David Cunliff pushed the line that Labour
could not have a gay leader, was not burdened with modesty,
had no eq created an atmosphere that Grant describes as
toxic and blah blah blah blah blah, but I think
that that accuses Condliff of spreading the line that Labour

(01:06:24):
could not have a gay leader. That feels like the
one that probably the lawyers had to look at anyway.
Fletcher Building bos next News talks, he'd be.

Speaker 1 (01:06:36):
A person over again.

Speaker 2 (01:06:41):
Was us down? What were the major cause? And how
will it affect the economy?

Speaker 1 (01:06:47):
The big business questions on the Business Hour with Heather Duplicy,
Allen and Mas for Trusted Home Insurance Solutions Used.

Speaker 2 (01:06:56):
Talks d be.

Speaker 3 (01:07:00):
Coming up in the next hour. We'll get market reaction
to the OCR cut today from Milford Asset Management. Spark
will talk us through their full year results. Gavin Gray
will do the UK for US seven past six now
things have unfortunately gone from bad to worse for Fletcher Building.
The company announced a net loss of nearly four hundred
and twenty million dollars for the year, worse than last
year's two hundred and twenty seven million dollar loss. No
dividend will be paid. The company today announced it's looking

(01:07:23):
to indicate it rather it's looking to sell off both
its construction but also its residential and development operations. Andrew
Reading is the Fletcher Building Managing director and CEO. Hey Andrew, Hi,
how are you. Yeah, I'm very well, thank you.

Speaker 22 (01:07:35):
Tough year, Yes, the markets have not been kind.

Speaker 3 (01:07:40):
How tough?

Speaker 22 (01:07:42):
Ah, this would be the worst we've sent since the GFC,
and that's in Australia and New Zealand. It's highly unusual
when you get both your residential infrastructure and commercial market
segments all crashing down at the same time, and that's
happened in both of the geographies.

Speaker 3 (01:08:00):
As bad as the GFC, or worse then worse than Okay,
what because I'm trying to get a handle on how
bad this thing is that we have come through, or
hopefully are coming through. How far back in your mind
do you have to go to find a comparable tough period.

Speaker 22 (01:08:15):
Oh, you're taking me back to this the recessions of
their late eighties. I mean it is really tough. Yeah,
and I don't think we appreciate quite how hard the
man on the street is doing it at the moment, do.

Speaker 3 (01:08:32):
You think so?

Speaker 7 (01:08:33):
Yeah?

Speaker 2 (01:08:33):
I agreed, Yeah.

Speaker 3 (01:08:34):
What what makes you think then?

Speaker 22 (01:08:36):
Ah, Well, you don't see people walking around with smiling
and spending a lot of money these days though, I
think I think people are scrubbling for every penny they
can get. And I think let's go back to the
interest rate drops we saw at the end of last
year that created a bit of a lift in foot
traffic for example through our residential and Development division, a

(01:08:59):
bit of a lift. But come early this year that's
all well just fizzled out.

Speaker 3 (01:09:03):
Yeah, I think you might be right. Now, Look, how
are you going with the sale of Fletcher Construction.

Speaker 22 (01:09:08):
So we're in a process and we've had some approaches
from interested parties and we're just working our way through
discussing with them how serious their interest is. And there's
a larger number of them than we'd originally expected. But yes,
it's going, it's going along.

Speaker 3 (01:09:29):
And are you serious about selling residential and development or
just kind of kicking the tires on it.

Speaker 22 (01:09:35):
So we haven't made that decision yet. So we're doing
a strategic review of it, which is about finding out
what options we have with the division. So that may
result in some divestment options or.

Speaker 5 (01:09:47):
It may not.

Speaker 3 (01:09:48):
If you do go ahead with it, well what does
it leave you, guys, as you're basically an Australia based
business and here you're just doing retail or products.

Speaker 22 (01:09:57):
Oh no, no, no, So if you look at our
strategic review, we've said that our medium term intention is
to be a building materials and distribution company building materials
and manufacturing distribution company, and we have significant operations in
both Australia and New Zealand.

Speaker 3 (01:10:16):
Yeah, okay, I mean that is a that's a mess
of there's a mess of downscaling, isn't it.

Speaker 22 (01:10:21):
We would be smaller, more nimble, and one would expect
more profitable.

Speaker 3 (01:10:27):
Do you think is this an admission then that the
growth that Fletcher just grew far too fast and got
too ambitious.

Speaker 22 (01:10:34):
I think that we have historically made some inappropriate acquisitions
which may have been done just to get bigger, and
then we have made some other management decisions which have
resulted in too much corporate cost. And I think we
made the mistake of trying to grow through the construction division,

(01:10:56):
which always countered with it a significant element of risk.

Speaker 3 (01:11:00):
How's it going with the convention center? Is it due
to be open? Is we're still on track for February
next year?

Speaker 2 (01:11:05):
Yes?

Speaker 22 (01:11:05):
Yes, no, so we're into the final commissioning phase. At
the moment, construction work is complete, we're just going through
all the paperwork and commissioning. At the moment so we're
looking forwards to handing over what will be an iconic
building to Ski City.

Speaker 3 (01:11:19):
Yeah, Andrew, if this year is tough and as tough
as you say, and I suspect I totally actually believe
that you're right, then that would suggest this is not
something we're going to come out of super fast, right,
So next year is probably going to be tough too.

Speaker 22 (01:11:31):
Yes, I think it will be. All the signs we've
got at the moment are that the patchingess that we've
been experiencing in the second half of trading of financial
year twenty five is continuing into Financial year twenty six.

Speaker 15 (01:11:46):
Yeah.

Speaker 22 (01:11:46):
And Australia may be showing signs of lifting a bit earlier,
but it's still very, very difficult to see when that
will actually any of those precursors will come through. Is
this greage activity in the market.

Speaker 3 (01:12:01):
Is this just a Fletcher story. Is this a construction
story or is this an economy story.

Speaker 22 (01:12:07):
I think it's a construction and an economy story. And
I think it's driven by the interest rates we've had
over the past few years and the change in net
migration rates, probably so that that used to create qualort
of demand in the housing market, which.

Speaker 3 (01:12:23):
Is the same, yeah, which has dropped off. But then, Andrew,
that's to say it will survived to twenty five. Now,
let's get through to twenty six. But geez, we may
have to wait until what like late twenty six twenty
seven until we start to really feel good.

Speaker 22 (01:12:35):
Yes, I mean, look, there will be a significant amount
of work coming out in the infrastructure space in New
Zealand and Australia. But the trouble with that is that
you get that by the time people have done the
design and actually got shovels into the ground, you're talking
about twelve eighteen months away, and then for that's become
serious activity six months post that. So we think financial

(01:12:55):
year twenty six flats and then we might start to
season benefit and financial year twenty seven.

Speaker 3 (01:13:00):
You're killing me, okay, but yeah, it's better to know.
I suppose get the medicine upfront. Andrew, When does it
get better for Fletcher? What do you have to put
behind you? The sale of the construction, the court cases,
get the get into a better state with the economy,
what else?

Speaker 22 (01:13:13):
Well, we've got the legacy, most our legacy projects behind us. Now,
so that's that's that's one tick we have been downsizing
the corporate center here, so we're getting structural costs down
to the business so that's another tick. We've been devolving
empowerment to the business units, so making them take on
more more responsibility and accountability, but making them quicker to

(01:13:35):
react to the things they see in the marketplace. So
all of those things coming together, if we've got a
lift in the market, would see a significant lift in improvement.

Speaker 3 (01:13:45):
Andrew, it's good to talk to you, groom, but good
Andrew Ridding, Managing director and Group CEO of Fletcher Building,
fourteen past six gither duple c Ellen twenty seven am,
so twenty seven before we start feeling it. Sky City
has gone into a trading holt on the enzed XP,
pending an announcement on a possible capital raise. Now this
has come about because the Australian newspaper said they had

(01:14:08):
been talking the investment community that as SkyCity could make
a cash call to fund managers this week if they
do it, they are doing it tomorrow because tomorrow is
when they release the results. So either so tomorrow they
either say the capital raises on and then they go
into another trading halt, or to say the capital raises
off and then it's it's it's good to go. We're
going to find out first thing.

Speaker 1 (01:14:29):
So quarter past six, it's the Heather Duper c Allen
Drive Full Show podcast on my Heart Radio powered by
news dog ZEPPI.

Speaker 3 (01:14:38):
Just out of the UK. Inflation's gone up again three
point eight percent for June. This is up from three
point six percent the month before. It's it's on track
to four percent before the end of this year. This
is now nineteen month high right now, seventeen pass six
And Remy Morgan Milfed acidt Management is with me. Hey,
Remy Hi Heaver. So how has the market reacted to
the ocr cut?

Speaker 21 (01:14:59):
Yeah, so twenty five basis point cut today to three percent.
That was largely expected. But what did surprise the market
was the rbnz's revisions to its own projection for the
official cash rate, which it now sees bottoming out at
two point five five percent instead of two point eight
five percent. And another surprise was the fact that two

(01:15:20):
of the six committee members had voted for a fifty
basis point cut at this meeting instead of twenty five. Now,
given these signals from the RBNZ of further evening were
beyond what the market had actually expected. Post the announcement,
we saw New Zealand dollar swap rates moving lower, and
we also saw a weakening of the New Zealand dollar,
with the New Zealand to US dollar exchange rate falling

(01:15:42):
over one percent.

Speaker 14 (01:15:43):
On the day.

Speaker 3 (01:15:44):
What's the market expecting from here?

Speaker 21 (01:15:47):
Yeah, so going into today's meeting, there was only about
half of a cut priced for after today's announcement for
the rest of the year, but we've actually seen the
market revise the expectation now to more than one full
cut before the end the year. So whether that market
view will be revised further from here will likely depend
on how the economic data unfolds between now and the

(01:16:08):
next Reserve Bank meeting in October.

Speaker 3 (01:16:10):
Okay, now we're obviously full swing into the reporting season.
What did the market make of the Fletcher building results today?

Speaker 2 (01:16:17):
Yeah?

Speaker 21 (01:16:17):
So overall it's been a challenging year for Fletcher with
the tough market conditions in New Zealand and that did
weigh on the result. They did not provide any forward guidance,
but what management did say was that they expect demand
to remain soft over the next financial year, which could
see limited earnings improvement, whereas the market had been expecting
some improvement in the second half of next financial year.

(01:16:39):
But while the economy remains tough, the company does continue
to focus on reducing cost and is exploring business divestments.
So we did see the share price bounce around a
little bit throughout the day, but it closed roughly flat.

Speaker 3 (01:16:52):
And what was the reaction to Spark?

Speaker 21 (01:16:55):
Yes, so Spark also had a challenging year with economic
and competitive pressures, but it does appear the business has
stabilized after some significant cost reductions. Now, while the earnings
outlook for next year is a bit lower than market expectations,
perhaps the key piece of news was the fact that
Spark reset its dividend policy to be based off of

(01:17:15):
its new definition of free cash flow. Now this will
likely see next year's dividend reset lower than the twenty
five cents per share that it paid this year. So
while Spark delivered a week result, it was perhaps better
than fared and the prospect of further rate cuts by
the RB and Z might have helped to lift sentiment
a bit, and the stock finished up on the day.

Speaker 3 (01:17:37):
Thanks Remy, appreciate it. Remy Morgan Milford asset asset Managements
twenty past six. Ever, do for see ellen Ah here
they beat the bush? Is he being attacked because he's
a man? Oh, such a good point from Dave. Such
a good If that was beat Jacinda dot co dot
in z that we were talking about, Holy heck. Can
you imagine the outcry that would be leading all the
r n Z bulletins for like a week. Wouldn't it

(01:17:58):
be all over one news at six three? Would beat three,
would have a story on it and then like an
eight minute interview afterwards. But if it's Chris Bishop, if
it's a dude getting beaten by the cricket bats on
the dot Co dollings, no one cares. Just remember that,
Just remember that next time Helen Clark comes out and
gets fantastic. Jes Cinda got a beast and that's why
she's left. Well, did she have a cricket bat game?

Speaker 1 (01:18:20):
No?

Speaker 3 (01:18:21):
Now, Brian Roach, Public Service Commissioner, they're going to offer
some more money to the teachers. He says, this was
always going to be a difficult bargaining round the strikers.
Evidence of that. Now that has happened, we have to
find a way forward. We owe that to the students
and the parents and the teachers. Our initial offer clearly
hasn't hit the mark, and we are doing work on
a revised offer six twenty one.

Speaker 1 (01:18:42):
If it's to do with money, it matters to you.
The Business Hour where the Heather Duper, c Ellen and
maz for Trusted Home Insurance Solutions News talks'd.

Speaker 3 (01:18:52):
Be Hey, do you remember how Elon Musk was going
to start a political party. He's not going to anymore.
The Wall Street Journal is reporting that he's been telling
his mates that he wants to focus on his companies.
Come on, mate, you should have been focusing on your
companies ages ago. But more importantly, I think he's become
quite chummy with JD Varnes, and if he launches a
competing party, then JD will not be his friend anymore.
And so what he's doing now is considering using some

(01:19:14):
of his financial resources to back JD if JD decides
to run for president in twenty twenty eight. Six twenty five,
here's some show business.

Speaker 2 (01:19:22):
Heather du for c Ellen.

Speaker 23 (01:19:27):
Wow, you know what it is?

Speaker 3 (01:19:29):
Millennials, hang on, stop it, stop getting excited. One of
the biggest ninety boy bands are on their way down
to down Under. This is five obviously from the UK.
Well five you can either call them five or you
can call them five five because they remember when they
did that thing where they had the numeral five and
then they wrote ive afterwards, so it was like five ive. Yeah,

(01:19:50):
it confused me a lot when I was young. Anyway,
they are teasing upcoming shows, so they posted a video
of a Melbourne billboard with a mysterious date. It's August
twenty second, seven eight. That's nine am, New Zealand time.
Twenty seconds is obviously this Friday. Now you can only
assume this is when they're going to be announcing the tour.
And you might be saying, well, hang on a togeather.
If the billboarders in Melbourne, how do we know they're

(01:20:11):
coming to New Zealand. Or they've also been posting pics
of the New Zealand flag and a key WE on
their Instagram story, So not being very subtle, are they.
That's hard evidence right there.

Speaker 10 (01:20:21):
Now.

Speaker 3 (01:20:21):
Five have been to New Zealand recently, but not with
the original lineup from the nineties. This tour will be
the first time since two thousand and one. That's a
long time between drinks. That the original band will be
performing together. But don't worry. If you think they haven't
still got the moves, you're wrong.

Speaker 2 (01:20:39):
I can tell you that we will be busting all
the moves.

Speaker 3 (01:20:43):
The knees might have ice baths.

Speaker 7 (01:20:45):
After, but I can guarantee you the moves are coming
out in force.

Speaker 3 (01:20:49):
Now, what you want to do is make sure that
your alarms are set for nine am on Friday so
you can find out where or where they're going to
be performing. But also what I would highly recommend that
you do is google a picture of what before you
buy the tickets. Google a picture because it might I
don't know that it's going to make you not buy
the tickets, but it is just going to make you

(01:21:09):
reset your expectations. Because the five of them modern day
standing there look like five well, they look like four
pons and be dads. But you know when the dad's
kind of hit the teenage age at you know when
you're that kind of a dad, So you're like your
mid fifties, you know, that kind of mid fifties but
still quite happened. Cool because you live in Ponsby and
you can't possibly stop buying sneakers even if you're in

(01:21:31):
your mid fifties. That's the kind of dads they look like.
So it's four of them with the drug dealer in
the middle. It's their coke dealer in the middle, or
just some random gang member that they picked up down
the road because he's got tattoos all over his face.
That's what is coming at you. And having said that,
depending on the price of the tickets, I might see
you there. You never know. It was a good time
back in the two thousand and ones, wasn't it. Anyway,

(01:21:55):
Spark's going to be with us next. Sparks fired a
whole bunch of people and had had a bit of
a tough year, like actually quite a tough year. So
we'll have a chat to them about their results news talks.

Speaker 11 (01:22:04):
He'd be.

Speaker 2 (01:22:15):
Crunching the numbers and getting the results.

Speaker 1 (01:22:18):
It's Heathered duplessy Ellen with the Business Hour and MAS
for Trusted Home Insurance Solutions news talks.

Speaker 2 (01:22:25):
That'd be.

Speaker 21 (01:22:31):
It's good.

Speaker 3 (01:22:34):
Hither as a feminist and infuriates infurior Erica is not
proud of me right now, infuriates me that incompetent women
hide behind this narrative preach as a feminist infuriates me too.
I just want women to go ahead and do well.
Never mind having a whinge about being bullied online anyway,
never mind, will leave that for the day. We've done
enough of that now, haven't we. Gavin Gray is going

(01:22:55):
to be with us in ten minutes time. It's twenty
five away from seven at the minute. Now, as investors,
we're expecting. Spark has had a tough year when you
were just for one offs. Net profit for the most
recent financial year was down more than thirty three percent
to two hundred and twenty seven million dollars. The companies
also cut about thirteen hundred full time employees. Now Jolie
Hodson is Spark CEO. Hey, Jolie, Hi, Heather, So what happened?

(01:23:18):
So we've been facing into a tough economic environment. Like
many companies, some of the markets that we have Biggish
market sharing have been really impacted both by reductions had
seen in their own businesses, lowest spending has they have
adapted to the economic environment and so we needed to
adjust and change and that's really been a focus for
us over the last six months in terms of the

(01:23:38):
program we put in place. Yeah, so lots of corporates
cutting their expenses yeah, and if you think about wheenor
and we work in both it as well as telecommunications,
so you think about tech product projects happening and being
deferred over time. So we had a big impact in
relation to that, particular in our enterprise and government business. Yeah,
is government has government hit you particularly hard. Have a

(01:24:01):
strong customer base and government and so we have seen
some of that spend reduction that's happened in the last
two years, and that's really has been a big impact
for us. Have you had a look at another thing,
because in the past you've been criticized for the dividend spend,
Have you had another think about that? Where weset a
capital management policy with these results? So really, in a nutshell,
there's a few things that we've changed there. So our

(01:24:22):
dividend's now based on the free cash flow of the business,
so pretty much it'll be a range of seventy to
one hundred percent. So that's to some extent, living within
your means within that dividend. And today we announced a
dividend of one hundred percent payout of the free cash
flow range. How do you feel, I mean, one of
the bigger things that have happened to you guys in
the last financial year is falling out of the Morgan

(01:24:43):
Stanley Index. How do you feel about that? Look, I can't.
I can't look back to what's happened. All I can
focus is on what we need to do ahead, and
that's why the transformation program has been a big part
of making sure that we get our operating business in order.
Did lead to some changes. It's not a decision to
overtake lightly, but ultimately we have to adapt and then

(01:25:05):
some shifts around the non core parts of our business,
so we've divested elements. The real important part about that
is the ability to recycle that cash back into the
things that we do to our core connectivity so mobile
and making sure that we're growing that. So that's been
the focus for us. Do you reckon you'd ever get
to get back into it? Like it is that something
that business can realistically achieve. I think from our perspective,

(01:25:26):
we've got an ambition of growing both our earnings and
our free cash flow, and with that comes dividend and
therefore return for shareholders. So for me, that's very much
the focus of the next Farcas I was talking to
Andrew reading of Fletcher before and he said that this
is the worst economic environment that he can recall. Like,
bearing in mind he works in construction and they really

(01:25:46):
had it very hard, but it's the worst that he
can recall since probably the late eighties. What about you, Yeah,
I'd say it's the worst I've worked on, both in
Australia and New Zealand in the last decade plus that
I've been back here. I don't remember a tougher time. Yeah,
which is to say that it can only get better,
can't it. Yeah, Like, if we look ahead, that would
be what we're working on. But the reality is we've

(01:26:11):
had quite a few ocarcuts. We've got to see that
flow back in confidence, I think in terms of both
to consumers but also businesses to ensure that they're investing,
because the only way we will come out of this
is buy investing for productivity, making sure we are using
new technologies, we are thinking about different ways of doing
it otherwise becomes a really challenging Yeah. Yeah, I mean
what he said though, and this I think is kind

(01:26:32):
of confronting. This is Andrew. What Andrew said is it
doesn't get better really until late twenty six, maybe early
twenty seven. What do you think Look, I think we
were all around when we heard the what was it
survived twenty twenty five, So I think it's right to
be cautious around what happens. And I think most of
us have been adapting our businesses to make sure that

(01:26:55):
we're set up for whatever comes next and not overly
optimistic around what that means around the corner, I'm excited
about ai AU. Yeah, look, I am. We've been using
in our business for a period of time. I mean
you can all see there's lots of funny ways in
which it can be used. In some ways that are
not great for it to be used, but it does
help enable Yeah, I mean we are we over hyping
it though, I mean there is a huge amount of

(01:27:16):
buzz about it. Is it too much?

Speaker 2 (01:27:18):
Now?

Speaker 3 (01:27:18):
Look, I think about in certain parts of our business,
so helping our teams, for example, our customer service teams,
so it is answering twenty thousand queries to our team
members a month right now. Yeah, So that is a
huge amount of time that's taken off them of doing
things potentially that is not as exciting for them to
be doing. Or So I think there are ways in
which definitely ways in which you use it, Yes, I

(01:27:38):
do use it for partly in terms of when you're
summarizing things, getting you know, like Google used to be
in the past. Yeah, a lot of ways of bringing
different information together, sometimes to travel, getting recommendations within that.

Speaker 23 (01:27:51):
Yeah.

Speaker 8 (01:27:51):
Yeah, yeah.

Speaker 3 (01:27:52):
And so one of the things as a business that
we're trying to do is really stand back and make
sure that you're using it on an in ten process
if we are going to use it, because you can
get thousands of things that you could do with it. Yes,
some of them are fun, some of them are interesting,
but is it really going to drive efficiency or change
your customer experience? So really our focus right now is
on how do we make sure we use the scale
in the right places. Yeah. Hey, I really appreciate your time.

(01:28:14):
Thank you, Jolly, and thanks for coming in. Jolly Hodson
Sparks CEO nineteen away from seven. Heather up Ellen, heither
when is the big announcement from Nicola on the grocery change.
It should be by the end of next week, because
that's what they promised.

Speaker 7 (01:28:25):
John.

Speaker 3 (01:28:25):
You make a very good point, she did say, by
the end of August, and August is fast running out
because next weekend is September, isn't it. So let's see.
We'll ask Nicola about it on Monday. Now, RFK and
Pete HeiG Seth have started a health campaign in which
they've given it a bit of a stink name. They
call it the Big Big Pete and Bobby Challenge, which

(01:28:48):
I doesn't take. I don't know big Comma, big Pete.
I don't know. Why is that? Because Pete is big.
So it's the Big Challenge by Big Pete and Bobby.
I don't get it. But it's the Big Big Pete
and Bobby Challenge. And you are challenged to do fifty
pups and one hundred press ups and you have to
do it all in five minutes. Depete and Barby Challenge.
One hundred pushups, fifty pull up.

Speaker 7 (01:29:08):
We allf Americans will take this challenge and you'll pass
it along so that we're.

Speaker 3 (01:29:12):
Ready to be fit the way we need to be
healthy and to have.

Speaker 6 (01:29:16):
A healthy fighting for us.

Speaker 14 (01:29:17):
Go get Let's make America healthy.

Speaker 3 (01:29:19):
Doesn't make America healthy. So don't tell me off for
mocking him. I always get told off for mocking him,
but I can't help it because he's highly mockable and
he's a man, So it doesn't count because he's a
man politician, right, We only counted when it's a woman politician. Anyway.
So what they did is they filmed themselves doing pull
ups and it was look it was extravagant, like it
was a scene the two of them on those polly

(01:29:41):
up things, you know, like the monkey bars, two of
them next to each other, and then they're just surrounded
by all these fit marines and members of the Navy
and they're all doing pull ups together. RFK did not
look the part. He's in the Denham jeans, brown boots,
a belt, in a Navy TV shirt T shirt like
he looks like he's he looks like I mean, he
just looks like he's going into a Midwestern pump, do
you know what I mean? But now he's doing pull ups.

(01:30:03):
Oh mate. The other one, Pete egg Seth, he was
a bit more like in the look. He had shorts
and a T shirt ten twenty nine on the back,
which is a reference apparently to him being the twenty
ninth Defense Secretary. Neither of them for setting the challenge.
It's a hard challenge. Neither of them actually did it.
He Acceeth did it in five point two minutes. RFK
was just behind him, As Ants pointed out to me earlier,

(01:30:24):
when I made Ants watched the video, I said, have
a look at this, don't you want And then I
showed him pictures of RFK without a top on, and
I was like, don't you want to look like that?
How old is he? Ants? He's like seventy, isn't he?

Speaker 17 (01:30:33):
Oh yeah, wouldn't have my head much better shape than
I am.

Speaker 3 (01:30:36):
That he's looking good, like, he looks good. Ants pointed out,
this is one of the more happy sides of the
mega movement and the sort of like and then also,
you know, because there's a slight bit of overlap there
with the sort of you know, alt right movement, that's you.

Speaker 17 (01:30:51):
Know, you know, it's great because they're like, yeah, get
get everyone, get fit and healthy, and I'm like, yeah, yeah, yeah,
he sounds good. They're like, so that you can join
our army and fight, and I'm like, oh, yeah.

Speaker 3 (01:30:59):
Yeah, you don't need the vaccine because you're healthy.

Speaker 17 (01:31:02):
Yeah yeah, yeah, yeah, eat lots of meat and don't
cook it.

Speaker 3 (01:31:04):
And I'm like, well, you know, I want to well
that's okay, I'm okay with that, and don't eat vegetable
oils and all that seed oils are bad for you anyway.
So the point of it simply is that if you
criticize the olt right movement, and this a fair amount
of criticism you want to level at them, one of
the things you cannot criticize them for is the fantastic bodies.
And I'll tell you what. If America needs something, it

(01:31:24):
does need to tidy appitact on the food. So good
on those two for doing this sixteen away from seven.

Speaker 1 (01:31:29):
Whether it's macro microbe or just plain economics, it's all
on the Business hour with hither duplicy ellen ands for
trusted home insurance solutions, use talks be hither.

Speaker 3 (01:31:42):
Did you see the Greens co leaders holding up their
big placards up the teachers in the house today? They
made food fools of themselves? No clear I did not.
But what doesn't surprise me that they're doing it because
they're being one up? Aren't they bother Maori party who
are doing stunts in parliaments? So now they're trying to
do stunts in parliament too. It's not going to end.
These two are just going to drive each other to
higher heights. Imagine and more Solly behavior thirteen away from

(01:32:02):
Stephen Gavin Gray UK corresponds with us now Hikevin hither
hell right? So how much trouble do you reckon the
government sin with these asylum hotels?

Speaker 24 (01:32:12):
Well, I do think it's going to lead now to
a whole load of councils, following an initial council and
its successful appeal in court, that other councilors will now
join in and try and get the hotels being used
to house mail asylum seekers emptied of those asylum seekers.
So what's happened a big High Court ruling which allowed

(01:32:33):
the council in Epping, that's Essex in southeast England to
force out the asylum seekers in one particular hotel, The
Bell Hotel has seen over the last few weeks thousands
of people protests outside, both those in support of migrants.
It has to be said, but I think the vast
majority saying we should not be having in a hotel

(01:32:55):
which has a license to be a hotel single mail
asylum seekers. Nobody's done any security checks on and all
this came about incidentally really because an asylum seeker living
there was charged with sexually assaulting a fourteen year old
girl and another asylum seeker there. Assyrian has been charged
with assault and common assault with four alleged victims in

(01:33:19):
that case as well as you can imagine a great
deal of all feeling by local people over those cases.
They went to court with the council to say they
shouldn't be there, and amazingly they won. Now the thing
is for the government. They're using two hundred and ten
hotels across the country housing thirty two thousand asylum seekers.
So if the courts begin to be full of councils

(01:33:40):
winning this battle, it's going to be very difficult for
the government to find somewhere for those people to live.
That said, this was thought to be an exceptional case
because of those two ongoing court cases relating to this
asylum seeking hotel.

Speaker 3 (01:33:56):
You guys worried about inflation.

Speaker 24 (01:33:59):
Yes, it is something that is climbing. So the latest
figure is up to three point eight percent, driven mainly
by a jump in the price of airfares. But that
means that inflation is now at the highest level for
eighteen months, and let's not forget the target of the
Bank of England is two percent. The UK therefore continues

(01:34:21):
to have the highest rate of inflation in the G
seven actually by quite some way. America comes second.

Speaker 2 (01:34:28):
So what caused this?

Speaker 24 (01:34:29):
What I mentioned in the airfares, But let's not forget
the basic costs. Food, non alcoholic beverages have all pushed
up prices and there's been quite a steep rise in
the cost of eating out. Part of that is said
because of the government's own taxes about how the employer
has to pay a tax on each employe. Now, the
Bank of England does forecast inflation will peak higher at

(01:34:52):
four percent that then begin to drop. But don't forget
they just recently reduced interest rates, which will be a
in an inflation generator.

Speaker 3 (01:35:03):
Now do you think it was a smart move to
cut the Space Agency?

Speaker 24 (01:35:08):
A very unusual move and it's kind of I think
the governments tried to put this out frankly when there's
lots of other news about and it might not quite
make the headlines, but it has. The UK Space Agency
is going to cease to exist as an independent ender tee.
It'll be coming under the Department for Science, Innovation and Technology.

(01:35:29):
The space sector here does generate roughly forty two billion
New Zealand dollars a year. It employs fifty five thousand people.
Of course, we've only ever sent one person into space
tim Peak, but from the UK. But nevertheless, there is
a big program in the space sector here and many
scientists think this is a backward move, believe that although

(01:35:51):
the government's saying it will save money, cut duplication in
shore ministerial oversight, others saying we will lose focus on
this sector in which Britain is doing well and growing
and could lead at least to a couple of years
of stagnation.

Speaker 3 (01:36:05):
Gavin, thank you, appreciate it. Gavin Gray, UK, corresponding, I
couldn't decide if I wanted if I thought it was
a good idea or not, because I love cutting a ministry,
but I feel like that might be one that you
need more than, let's say, I don't know, a women's
ministry or something like that. Open AI, which is responsible
for chat GPT, is apparently on the cusp of becoming
the world's most valuable private company. So apparently open ai

(01:36:25):
is and talks to sell about six billion dollars. This
is US dollars and shares. If they go ahead and
do that, it would possibly boost its valuation to about
five hundred billion dollars. Now, if that happens, then it
is more valuable than SpaceX, which Elon Musk privately holds,
which has valued at three hundred and fifty billion dollars.
Eight away from seven, it's the heather.

Speaker 1 (01:36:46):
Too for see Alan Drive Full Show podcast on iHeartRadio
powered by newstalg Zebbi.

Speaker 3 (01:36:54):
Six away from seven. Listen, you know how earlier on
we were talking about whether Nikola Willis is in trouble
or not. I think more the former than the latter,
although what that trouble eventually ends up with is we
can debate that. But still anyway on that subject, the
Taxpayers Union clearly have her in their sights. They have
just put out a statement where they say Nicki is

(01:37:16):
being tricky with underhanded swipe at the Taxpayers Union. Now,
mark my words, doesn't take a long time for Nicky
as being tricky to become tricky Nicky. Watch watch what
happens here, because if she's going to start, if they're
going to have a fight with each other, that's not
very good for Nikola Willis. I would have thought, now,
if you're looking for a job, if you're in Wellington
and you're looking for a job, don't apply for the

(01:37:37):
job that Tamotha Paul is advertising. Because Tamotha is out
there looking for an executive assistant. She's a big, big deal.
Now she's grown up. She needs an EA. So she's
out there advertising for an EA. And she's had so
many job applications because there is apparently eight thousand people
who've lost their jobs in Wellington, which I don't think.
I don't know, certainly not the government's fault for that,
But Tamitha thinks it's the government's fault that there's not

(01:38:00):
really any jobs out there because they have been gutted
by the Duke government. Anyway, it is the government's faults.
She would love to give everybody a job, but unfortunately
she can't because capitalism is real and the economy is real,
and you know, they still haven't managed to get their
hooks into everything and make jobs for eight thousand EA's

(01:38:23):
possible for her, just really quickly. You know that that
book I was telling you about, the Prince Andrew book,
Well it has been forced now to remove a reference
to Milania Trump. Remember this. Milania the other day announced
she was going to sue Hunter Biden for saying something well,
what he said was in the book, and he said
that Epstein had introduced Donald Trump to Milania. They published

(01:38:44):
the allegation in around sixty thousand copies of this book
by Andrew Lowney. The passage is now going to be
so it's already in these books, but it'll be deleted
from the future editions. And the ebook and the audiobooks
have been updated to reflect the changes. So there you go. Ants.

Speaker 17 (01:38:58):
Oh you just turned those first six thousand books and
the collector's items.

Speaker 3 (01:39:01):
One hundred percent. Yeah, they'll be worth a lot now. Excellent.

Speaker 17 (01:39:04):
So The Wire by David Dallas and Ruby Frost to
play us out tonight. David Dallas is going to be
the special guest at High Tide Festival in Wellington in November.
The lineup's been announced today. It's going to be held
in White Tonguey Park on November the night. The rest
of the lineup is all drumming bass, so I thought
we'd go out with David Dallas instead.

Speaker 3 (01:39:25):
Oh, why do you think we can't handle a bit
of drum bass.

Speaker 17 (01:39:27):
I just feel like the audience I have to be
careful when I play drumm based for them and not
do it too much.

Speaker 3 (01:39:31):
No, this is fair. I think this is fair. It's
not the z B audience. It's just normal human beings.
I think you will find, which is to say you're
not normal and we'll give music taste. Thank you very much,
but this is this is a good choice for me.
Thank you all right, See you tomorrow New Still TV.

Speaker 23 (01:39:43):
If you get carry your film, if you've never been starved.
Robert pot a couple large on it gone with Florida
asking not thought up, be happy with the andis in
your god it ran I had to leave them behind,
although we got along trains.

Speaker 5 (01:39:56):
We've been in zect to read the rock ran O.

Speaker 2 (01:40:00):
I'll live with it.

Speaker 23 (01:40:01):
Do play some good deep events, stick with it, don't
best save for my life.

Speaker 2 (01:40:06):
I'll sit with it.

Speaker 23 (01:40:07):
Don't pain upon may stage a broad tricky stoke, and
I can't do so though I know it's such a
long way down, but such a long way now that
I've forgotten.

Speaker 16 (01:40:17):
Your wife's with the pup nest is the only things to.

Speaker 2 (01:40:21):
Meet For more from Hither Duplessy Allen Drive.

Speaker 1 (01:40:29):
Listen live to news talks it'd be from four pm weekdays,
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