Government destroys $300 million of shareholder value with silly comments

Goff’s comments knock 4pc off airport’s value – 07 Aug 2007 – NZ Herald: New Zealand Business and Personal Finance News

Phil Goff has singlehandedly destroyed $300 million of shareholder value through his ill advised comments.
[quote]Auckland Airport chairman John Maasland says he is frustrated with Government comments which wiped 4 per cent off the airport’s market value yesterday.

“We’ve seen $300 million or so knocked off the share price. So there are 53,000 mum and dads who wake up this morning with the value of their shares substantially lower,” he said.[/quote]

It is inconceivable that Labour and the Hollow Woman haven’t taken a position on this sale and inconceivable that The Hollow Woman didn’t have a hand in Goff’s silly statement.

The bizarre thing about all this is that Auckland International Airports Limited isn’t a government owned business, or even a “public” business in any way it is in fact 75% already owned by private citizens and corporations and only 23% is owned by the Manukau and Auckland City communities.

Goff has also bizarrely indicated the comments reflected a Labour Party view rather than a Government view.

Huh! Excuse me Phil, but Labour is the government, thus whatever the party says the government says.

The government has no shareholding and it would be best if they just STFU about something they have no control over and let the shareholders decide what is best for them.

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