NZ Post to sell 45% of Kiwibank

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Forums › Finance and wealth management › NZ Post to sell 45% of Kiwibank

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UHD

655 posts

Ultimate Geek
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#1527074 6-Apr-2016 15:54

afe66:

Which will be swiftly followed by me changing banks.

A.

To one of the many other banks not partially owned by private entities?

mattwnz

20164 posts

Uber Geek

#1527101 6-Apr-2016 15:58

Geektastic:

Looks like money go round to me - all the 'buyers' are ultimately the same person, the Crown!

At the moment, but what if the government sells ACC, or the Superfund? Then on paper they haven't sold Kiwibank directly, they have sold another entity that owns part of it.

afe66

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#1527134 6-Apr-2016 16:53

UHD:

afe66:

Which will be swiftly followed by me changing banks.

A.

To one of the many other banks not partially owned by private entities?

Yes.

If they sell Kiwibank to a third party (ie more than 49%), I will change banks.

TSB off the top of my head.

UHD

655 posts

Ultimate Geek
Inactive user

#1527178 6-Apr-2016 17:38

afe66:

UHD:

afe66:

Which will be swiftly followed by me changing banks.

A.

To one of the many other banks not partially owned by private entities?

Yes.

If they sell Kiwibank to a third party (ie more than 49%), I will change banks.

TSB off the top of my head.

A.

Which is entirely owned by a private charitable trust...

Fred99

13684 posts

Uber Geek

#1527194 6-Apr-2016 17:51

afe66:

UHD:

afe66:

Which will be swiftly followed by me changing banks.

A.

To one of the many other banks not partially owned by private entities?

Yes.

If they sell Kiwibank to a third party (ie more than 49%), I will change banks.

TSB off the top of my head.

A.

There's a hint that as Kiwibank is directly state-owned, then in case of a run there may be some obligation for the state to make up a shortfall that would otherwise result in depositors taking a "haircut" under OBR rules. Distancing itself from direct state ownership may have a purpose of government seeming to be less morally obliged.

One reason to have deposits with Kiwibank (slightly safer than the private trading banks - perhaps) may have just been diluted.

andrewNZ

2487 posts

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Inactive user

#1527197 6-Apr-2016 17:58

If you rely on postal services, prepare for a world without them.

This will hasten the demise of NZ Post dramatically. Kiwibank is the only thing propping it up IMO.

I hope they can find a way of shutting down NZ Post so it doesn't screw the whole country in the short term.
Without them, there is no postal system in this country.
DX could'nt pick up the slack, they rely on NZ Post to sort, transport and deliver a large portion of their mail.

(statements made based on 18 month old 1st hand knowledge)

tdgeek

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#1527198 6-Apr-2016 18:07

nathan:

sell 100% of NZ Post and TVNZ as well before they're worth nothing like Solid Energy

Thats my pick. Get NZ Post stand alone, sell to a private concern who can turn it around. It will be stripped back to a venture that can support the decreasing snail mail, weekly mail deliveries. It needs to become a small operation in line with its mail market

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Batman

Mad Scientist
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#1527236 6-Apr-2016 18:58

tdgeek:

nathan:

sell 100% of NZ Post and TVNZ as well before they're worth nothing like Solid Energy

Thats my pick. Get NZ Post stand alone, sell to a private concern who can turn it around. It will be stripped back to a venture that can support the decreasing snail mail, weekly mail deliveries. It needs to become a small operation in line with its mail market

That's a scary thought. We are moving in very interesting directions. Video store, book store, post store, tv station .... all bust. ~~Eventually when everything is handled by robots what jobs would be left?~~

richms

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#1527242 6-Apr-2016 19:09

joker97:

That's a scary thought. We are moving in very interesting directions. Video store, book store, post store, tv station .... all bust. ~~Eventually when everything is handled by robots what jobs would be left?~~

Just leave it all to couriers, if its not important enough to pay $4 or so then dont bother sending it.

I get annoyed at places that send snailmail, its a pain to deal with, hard to locate where I have left it, costly to backup time wise. insecure, unreliable.

Death of the letter industry would be a good thing IMO.

Richard rich.ms

tdgeek

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#1527264 6-Apr-2016 19:37

richms:

joker97:

That's a scary thought. We are moving in very interesting directions. Video store, book store, post store, tv station .... all bust. ~~Eventually when everything is handled by robots what jobs would be left?~~

Just leave it all to couriers, if its not important enough to pay $4 or so then dont bother sending it.

I get annoyed at places that send snailmail, its a pain to deal with, hard to locate where I have left it, costly to backup time wise. insecure, unreliable.

Death of the letter industry would be a good thing IMO.

I agree. As the mail decreases, the cost of it will rise. No idea if there can be a different sorting system. Perhaps a campaign to get the hangers on onto online. But who will do that? No one. Let it evolve and wither. Letters will cost $5 one day. How many adults have no email address these days?

JimmyH

2886 posts

Uber Geek

#1527333 6-Apr-2016 21:22

afe66:

Yes.

If they sell Kiwibank to a third party (ie more than 49%), I will change banks.

TSB off the top of my head.

A.

Why?

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