Sep 23, 2008

Key On Tranzrail

Kiwiblog has a good post on the Tranzrail share beat up by the Axis Labour First people.

What is most interesting is the following comment. We agree fully

This is the exact opposite of what Peters has done. Give us the facts, and admit that it should have been handled better. Key has noted that he could have exited the Tranz Rail shares earlier and that is a call I agree with. He was still in his first year of being an MP then, and as he started to get promoted, he became more aware of the potential conflicts. In fact I understand during that year he instructed his brokers to divest themselves of pretty much all NZ stocks, to minimise any actual or perceived conflicts. But it would have been better for this to have been done slightly earlier than it was.
National has put online a letter from his broker
setting out all transactions with Tranzrail. They have also put up all the actual share contracts. Again smart work to get it all out there. As Key says, it would have been better to do this earlier also.