September 3, 2024 • 5 mins
Business Time - company liquidations increasing up 33% in Auckland, Govt announcements around transport funding show big increases for roads, and Good news on exports of medicinal cannabis.
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Speaker 1 (00:00):
From the rugby field to the rotary shed. It's the
(00:02):
country Sport Breakfast with Brian Kelly on Gold Sports.
Speaker 2 (00:07):
Say you're Chana said, oh yeah, is business is business.
It's business time. We're getting down to business. Catching up
with Managing director of Iron Duke Partners, Phil O'Riley.
Speaker 1 (00:22):
Morning, Phil, morning, welcome back.
Speaker 2 (00:25):
Thank you very much. Can eat you are TOI you
wonderful country Japan. I've got to say it's lovely. We
could take a lot of lessons from that country.
Speaker 1 (00:34):
That's a sure. I agree. I agree.
Speaker 2 (00:38):
Three things to talk about today. First off, company liquidations
increasing up to thirty three percent in Auckland alone, but
consumer areas are falling. So what do we make of
all that?
Speaker 1 (00:49):
It's an interesting this is an interesting set of statistics
about what technic in the economy right now. You're seeing
We've talked in the past about about you know, those
are just rates coming down a bit and with more
to come. And you know, maybe this is the green
shoots that everybody talks about that the economy might start
pulling out. And I think that the consumer aredeas pieces
are part of that. There's a bit of you know,
(01:11):
those interstrates come down a bit, and maybe people are
changing over some of lower interest rates on the way
through and using it as a way to pay down
debt and to get themselves back on the feet, which
is great, but the downside courses right now, these business liquidations, otherwords,
businesses are voluntarily deciding to stop or being forced to
stop effectively is on the rise. And that's because, of course,
businesses have been been trying to survive for so long.
(01:34):
How that you know that used everything. They'll have increased
the homeland on their house and they'll have you know,
I worked harder and tried to get those the bills
paid and then it just doesn't work and they fall over.
This is a result of the economy being in trouble
for a long time and business is just running out
of rope. And you know, it's it's important. I mean
a lot of your listeners will be business people. It's
important to remember that buying each one of those liquidations
(01:55):
as a person is as a family or someone who's
risk their risks, their money and their livelihood and something.
And so you know, you look at those and you
think that's a very very very sad outcome for those people,
But it's a it's a symptom of what's going on.
Worst of all in Auckland, where you're seeing I suspect
a lot of those businesses will be construction businesses, tradees
and so on, just running out of rope and falling
over just at the time the economy might be starting
(02:17):
to pull out. But let's hope they can get back
into business as it turns better.
Speaker 2 (02:21):
Yeah, absolutely good point. Indeed, had the government's announcement around
transport this week on transport funding showing big increase for roads,
which is great news, but less for cycle ways. I'm
guessing you'll support the change. Well.
Speaker 1 (02:35):
You and I've talked about cars and roads a bit
in the past, and most of this was a sensual
set of initiatives. And I see the sort of the
ideological left here, the anti car left out there saying
this is dreadful, you should spend that elsewhere. But actually
what this is about is unlocking economic growth. And you
know I Oliver Welling and as you know, and I
drove north over the weekend into effectively until Evin, which
(02:56):
is an easy drive these days. It was a difficult
long drive previous. Now you could do it to day
if you're a tructor over and do three sets of
deliveries there. I'm sure that's what the government's really on
about here, these roads of national significance and these roads
of regional significance. It's about unlocking this economic growth that
we've got. In terms of moving around the country. You're
never going to build a train for many of the
parts of New Zealand that we're talking about here, and
(03:17):
so I think the government's got the balance right here,
and I think it'll be very popular, particularly with those
in regional New Zealand who will gain access, hopefully over
the next ten years or so, to a road that
they don't die on, that's safer and faster for them
to move around. And so I think the government's gout
this right and I think the business community will be
very supportive and principle of what's going on.
Speaker 2 (03:38):
Yeah, absolutely good news on the export front on medical cannabis.
Apparently changes and regulations are making it easier to export.
Why do the government take so long to change them?
Speaker 1 (03:49):
Phil This was a mad thing, this was but dial
cannabisy course is is a proven drug these days. It's
a proven way of giving people respite when they got
terminal cancer. You know, a number of your listeners will
not that have been through this, where family members or
others have been through this process, and you know, it's
just it's sensible that we should do something about this.
(04:09):
And you said them, of course, because we grow grass,
well literally, we'll grow cannabis very war too. And the
regulations governing it were just crazy. They were out of
the Medicines Act and they put a whole bunch of
restrictions on New Zealand exporters of cannabis seeds and cannabis
plants and so on cannabis material for use medicinally that
had nothing to do with the export market. It was
(04:30):
all to do with medical stuff in New Zealand. So
they were being hamstrung with the silly regulation that made
New Zealand out to be somehow special and different to
the rest of the world. So what the government's finally done,
after much debate and stupid might I just say, silly
stuff going on, they've decided to say, you know, wow,
who knew this that the regulations around cannabis and the
(04:51):
safety of the cannabis product should be the same as
those which apply in the country you're exporting it to. Well,
who knew what a terrible outcome. Just astonishing that we
had who took so long to get to a sensible
outcome with that. You know, our New Zealand exporters, we've
got to follow the same rules as those being used
in the countries to which they're exporting. Well, that's a
very sensible outcome. What it takes so long, it's because
(05:11):
of a mix up and bureaucracy, it's because the wrong
people were looking at it, and it's because I think
you know, previous ministers weren't all that interested. So it's
good that this has happened to go on those medicinal
cannabis growers because it's a high value crop and it
does have an impact on human health and that's great.
Speaker 2 (05:27):
Do it legally, not an a bunch of Auckland rental properties.
Speaker 1 (05:32):
Exactly.
Speaker 2 (05:33):
We'll always good to catch up mate, We'll do it
again next week.
Speaker 1 (05:36):
Thanks.
Speaker 2 (05:37):
Good on your Phil Riley, managing director of Iron Duke Partners,
our weekly chat on the business scene here on gold
Sport
From the rugby field to the rotary shed. It's the
(00:02):
country Sport Breakfast with Brian Kelly on Gold Sports.
Speaker 2 (00:07):
Say you're Chana said, oh yeah, is business is business.
It's business time. We're getting down to business. Catching up
with Managing director of Iron Duke Partners, Phil O'Riley.
Speaker 1 (00:22):
Morning, Phil, morning, welcome back.
Speaker 2 (00:25):
Thank you very much. Can eat you are TOI you
wonderful country Japan. I've got to say it's lovely. We
could take a lot of lessons from that country.
Speaker 1 (00:34):
That's a sure. I agree. I agree.
Speaker 2 (00:38):
Three things to talk about today. First off, company liquidations
increasing up to thirty three percent in Auckland alone, but
consumer areas are falling. So what do we make of
all that?
Speaker 1 (00:49):
It's an interesting this is an interesting set of statistics
about what technic in the economy right now. You're seeing
We've talked in the past about about you know, those
are just rates coming down a bit and with more
to come. And you know, maybe this is the green
shoots that everybody talks about that the economy might start
pulling out. And I think that the consumer aredeas pieces
are part of that. There's a bit of you know,
(01:11):
those interstrates come down a bit, and maybe people are
changing over some of lower interest rates on the way
through and using it as a way to pay down
debt and to get themselves back on the feet, which
is great, but the downside courses right now, these business liquidations, otherwords,
businesses are voluntarily deciding to stop or being forced to
stop effectively is on the rise. And that's because, of course,
businesses have been been trying to survive for so long.
(01:34):
How that you know that used everything. They'll have increased
the homeland on their house and they'll have you know,
I worked harder and tried to get those the bills
paid and then it just doesn't work and they fall over.
This is a result of the economy being in trouble
for a long time and business is just running out
of rope. And you know, it's it's important. I mean
a lot of your listeners will be business people. It's
important to remember that buying each one of those liquidations
(01:55):
as a person is as a family or someone who's
risk their risks, their money and their livelihood and something.
And so you know, you look at those and you
think that's a very very very sad outcome for those people,
But it's a it's a symptom of what's going on.
Worst of all in Auckland, where you're seeing I suspect
a lot of those businesses will be construction businesses, tradees
and so on, just running out of rope and falling
over just at the time the economy might be starting
(02:17):
to pull out. But let's hope they can get back
into business as it turns better.
Speaker 2 (02:21):
Yeah, absolutely good point. Indeed, had the government's announcement around
transport this week on transport funding showing big increase for roads,
which is great news, but less for cycle ways. I'm
guessing you'll support the change. Well.
Speaker 1 (02:35):
You and I've talked about cars and roads a bit
in the past, and most of this was a sensual
set of initiatives. And I see the sort of the
ideological left here, the anti car left out there saying
this is dreadful, you should spend that elsewhere. But actually
what this is about is unlocking economic growth. And you
know I Oliver Welling and as you know, and I
drove north over the weekend into effectively until Evin, which
(02:56):
is an easy drive these days. It was a difficult
long drive previous. Now you could do it to day
if you're a tructor over and do three sets of
deliveries there. I'm sure that's what the government's really on
about here, these roads of national significance and these roads
of regional significance. It's about unlocking this economic growth that
we've got. In terms of moving around the country. You're
never going to build a train for many of the
parts of New Zealand that we're talking about here, and
(03:17):
so I think the government's got the balance right here,
and I think it'll be very popular, particularly with those
in regional New Zealand who will gain access, hopefully over
the next ten years or so, to a road that
they don't die on, that's safer and faster for them
to move around. And so I think the government's gout
this right and I think the business community will be
very supportive and principle of what's going on.
Speaker 2 (03:38):
Yeah, absolutely good news on the export front on medical cannabis.
Apparently changes and regulations are making it easier to export.
Why do the government take so long to change them?
Speaker 1 (03:49):
Phil This was a mad thing, this was but dial
cannabisy course is is a proven drug these days. It's
a proven way of giving people respite when they got
terminal cancer. You know, a number of your listeners will
not that have been through this, where family members or
others have been through this process, and you know, it's
just it's sensible that we should do something about this.
(04:09):
And you said them, of course, because we grow grass,
well literally, we'll grow cannabis very war too. And the
regulations governing it were just crazy. They were out of
the Medicines Act and they put a whole bunch of
restrictions on New Zealand exporters of cannabis seeds and cannabis
plants and so on cannabis material for use medicinally that
had nothing to do with the export market. It was
(04:30):
all to do with medical stuff in New Zealand. So
they were being hamstrung with the silly regulation that made
New Zealand out to be somehow special and different to
the rest of the world. So what the government's finally done,
after much debate and stupid might I just say, silly
stuff going on, they've decided to say, you know, wow,
who knew this that the regulations around cannabis and the
(04:51):
safety of the cannabis product should be the same as
those which apply in the country you're exporting it to. Well,
who knew what a terrible outcome. Just astonishing that we
had who took so long to get to a sensible
outcome with that. You know, our New Zealand exporters, we've
got to follow the same rules as those being used
in the countries to which they're exporting. Well, that's a
very sensible outcome. What it takes so long, it's because
(05:11):
of a mix up and bureaucracy, it's because the wrong
people were looking at it, and it's because I think
you know, previous ministers weren't all that interested. So it's
good that this has happened to go on those medicinal
cannabis growers because it's a high value crop and it
does have an impact on human health and that's great.
Speaker 2 (05:27):
Do it legally, not an a bunch of Auckland rental properties.
Speaker 1 (05:32):
Exactly.
Speaker 2 (05:33):
We'll always good to catch up mate, We'll do it
again next week.
Speaker 1 (05:36):
Thanks.
Speaker 2 (05:37):
Good on your Phil Riley, managing director of Iron Duke Partners,
our weekly chat on the business scene here on gold
Sport
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