Episódios
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At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.
Super Rugby: 7/10
Good start, good rugby, no one knows who is going to win and the crowds were okay.
Jannik Sinner and tennis: 3/10
For a sport that I assumed didn’t want to look shonky, it's got a very WWE vibe about it these days.
Farmers: 9/10
At over $10 in dairy and regulation driven by reality, not fairy tales, it's no wonder they are feeling good.
Bootcamps: 6/10
The report spoke well of the pilot. Pity the media didn’t cover more of the report, as opposed to the Labour Party pile on.
Debbie from the Māori Party: 1/10
When you are that detached from the world in which you are allegedly serving, and on holiday while you're displaying your ignorance, you've got to wonder. Mind you, as Rawiri Waititi so eloquently, and yet incorrectly, put it, it could be a hatch job.
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In a week, 230 New Zealanders were given confirmation Kinleith Mill was over.
The Australians facing the same scenario at a place called Whyalla in South Australia did something completely different.
The steel mill is owned by a British billionaire and it's in a world of financial trouble. It may well go to the wall.
It employs 1000 people in a town of 22,000. So the state Government, backed by the Federal Government, has bought it.
Even for a Labour Government in Australia it is an extraordinary move.
But the assessment is, in a small town, you can't afford to lose that many jobs.
They will look for a buyer, they will look for finance and they will look to rejig the place to solve the problem. But in the meantime, the place is open and the jobs are saved.
The first question you ask, of course, is would this decision be made if it was not about a month or so out from an election, which is an election the Government who just bought the steel mill is in serious danger of losing?
The precedent is also shocking. If you save one, surely you save them all? And if you don’t, because you can't, the locals will, quite righty, ask why not?
Also, the Government owning things in the long term has never really been a recipe for efficiency or success. As much heat as Labour got in the 1980's for selling the railways here, Helen Clark buying them back has hardly been one of life's great business decisions.
In a small town though, at the pub or the dairy or the sports field, who cares? They've got jobs, the bills get paid, and the kids stay in the local school. They'll take it. Where the money came from doesn’t really matter.
As much as Shane Jones espouses the value of the regions, the region here still lost its mill.
We still have the problem that is the price of power. It still hasn’t been addressed as an issue, and we go into another winter with a mess of a system.
In Australia the place is open, the jobs are saved and no one's leaving town.
So, which approach is better?
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Councils are planning for the long term, so should the Government be doing the same?
The Auditor-General's Office has compiled a report into 58 councils’ long-term plans, and found they made a “significant achievement” meeting their requirements on time in uncertain circumstances.
However, they found the Government lacks comparable planning requirements.
Deputy Auditor-General Andrew McConnell told Mike Hosking they’re raising the question of how much the central government understands about its future infrastructure costs.
He says most government agencies have a form of infrastructure they’re relying on, so they think that question needs some serious consideration.
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On the Mike Hosking Breakfast Full Show Podcast for Friday 21st of February, the Daman Kumar case is over and he’s been granted residency – does this set a precedent?
According to our listeners, Air NZ CEO Greg Foran has plenty to defend after the airline released its disappointing half year results.
Kate Hawkesby and Tim Wilson play a new game that may have to become a regular segment: Is Mike a Snob?
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Friday has come once again, and Kate Hawkesby and Tim Wilson joined Mike Hosking to Wrap the Week that was.
They discussed rising crime, Air New Zealand, and which overstayers should get amnesty.
Plus, they played a new game: Is Mike a Snob?
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Air New Zealand expects to be short of planes for at least another two or three years.
Our national carrier's recording an 18% drop in half-year profit.
That follows a 65% in full-year profit last year.
Chief Executive Greg Foran told Mike Hosking they're going into a period when up to 11 aircrafts will be out of action.
He says it's a bit like playing a rugby match without the front row.
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It's thought the Government is unlikely to grant a wide scale amnesty for overstayers.
Daman Kumar, who was facing deportation to India even though he'd never visited, has now been offered residency.
The Greens want his parents to be granted an exemption, as they have been overstayers for 24 years.
Into NZ Immigration principal consultant Katy Armstrong says the Government won't want to grant amnesty because it could be seen as unfair to legal migrants.
She told Mike Hosking there needs to be support for those who have done the right thing.
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A lack of competition in the banking sector is being blamed on poor regulation.
Financial experts believe a fundamental change to the Reserve Bank and the Council of Financial Regulations is required.
Andrew Body, one of the experts, told Mike Hosking the regulators have created a “moat” around the large banks in New Zealand.
He says the capital requirements, the Reserve Bank’s outsourcing requirements and branch policy, as well as the conduct and disclosure regulation and costs of operating all favour the big banks.
Body told Hosking that RBNZ Governor Adrian Orr has completely “overcooked” the regulation.
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The Pope's sense of humour is well and truly intact, even as it's expected his funeral preparations are underway.
New medical tests reveal the 88-year-old pontiff has developed bilateral pneumonia.
Italy's Prime Minister Georgia Meloni has visited the Pope in hospital, where she was happy to find he hasn't lost his sense of humour.
Rome Correspondent Jo McKenna told Mike Hosking she expects the Vatican would be going through standard funeral arrangements.
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The name of the game for the government this year is economic growth and increased productivity.
For that, what New Zealand needs is successful businesses.
One of New Zealand’s most successful entrepreneurs believes more can be done to grow business confidence and the economy alike.
Rowan Simpson, one of the founding members and investors in TradeMe and Xero, is releasing ‘How to Be Wrong’, a book that details the unique position New Zealand is in to grow businesses.
He told Mike Hosking that while there are plenty of ideas that are not investable, there’s more than enough that have great potential.
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Given the issues around KiwiSaver, it’s a miracle any of us save anything to become remotely independent in retirement.
Last week we told you about the Morningstar rankings and how the biggest operator in the market was performing so poorly, and now we have yet another crack at where the money is actually invested.
Mindful Money is upset over the increase in funds going to fossil fuel producers. We have a 20% increase in the last six months.
That's despite the amount of new money flowing into KiwiSaver only being 7%.
Mindful Money is clearly of the view that the whole transition away from fossil fuels is still an urgent and present thing, when clearly, it's not.
What we have here is a clash of reality vs ideology.
The reality is KiwiSaver funds look for returns. The ideology is that no matter how unrealistic it is to run the world on sun and wind, we still need to sacrifice more to get there.
If there has been one crushing realisation this past year or so around that, it is the simple truth that the transition to renewables has been found out, and badly.
Genesis has half a million tonnes of coal standing by for this winter to keep the lights on. They have another half million tonnes on order, with a backup order for another 200,000 tonnes.
Someone mines that coal. That's good business and good business pays dividends.
If you hate coal don't even look at India and China. Coal is booming. It doesn’t make it nice or palatable, but it's real and investment is about reality.
We are in a time where the cold, hard truth of what we thought was going to be easy, isn't. It might not even turn out to be real.
The last thing we need is KiwiSaver funds playing dumb games like the banks and looking to deny legitimate activity, the financial life blood, it needs to produce goods and services people actually want.
What we want in KiwiSaver is a pool of money that grows. That happens by investing in relevant activities that turn a dollar and pay a dividend.
Morale indignation doesn’t fund retirement.
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On the Mike Hosking Breakfast Full Show Podcast for Thursday the 20th of February, Winston Peters says we need a reset in our relationship with the Cook Islands.
Reserve Bank Governor Adrian Orr joined to talk our future plans after they cut the OCR by 50 basis points.
One of our most successful entrepreneurs Rowan Simpson has some ideas about how to turn this country around, and it's all laid out in his new book ‘How to be Wrong’.
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A researcher's warning better security is urgently needed as New Zealanders become soft targets for scammers.
Independent Research Solutions Director Jarrod Gilbert has found people earning more than $100 thousand are significantly more likely to become victims, with rates increasing 10% since 2018.
He told Mike Hosking it's the country's most prominent crime, and we need to act as at the moment, we're slipping behind.
Gilbert says if measures aren't put in place, Kiwis will become an even more significant target.
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The timeframe for the 500 officer increase in policing numbers is shrinking.
Police News magazine reports there are actually fewer cops in the country than when the target was set 14 months ago.
Associate Police Minister Casey Costello says they've lost 150 through attrition, but they're expecting to put 650 recruits through in the first half of the year.
She told Mike Hosking it won't just be new recruits who help bolster the numbers.
Costello says more than 100 former officers have applied to rejoin the force.
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Pressure is mounting on banks to pass OCR cuts onto their customers.
The Reserve Bank's signalling yesterday's double cut to the cash rate will be followed by at least two more single cuts.
All major banks have started dropping their rates.
But Governor Adrian Orr told Mike Hosking they need to go further.
He says they need to be doing better, looking at their own margins, and chasing and competing for customers much more vigorously.
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Borrowers may want to be shopping around more for better deal following yesterday's double cut to the OCR.
The Reserve Bank's signalling more cuts in April and May.
All banks have started dropping short-term rates.
New Zealand Home Loans Chief Executive Kip Hanna told Mike Hosking that's likely to continue as banks fight it out for available lending business.
He says banks are becoming more competitive on rates and offers, and the structures can be just as important as the rates themselves.
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The Foreign Minister's calling for a 'reset' of the relationship between New Zealand and the Cook Islands.
New Zealand claims Cook Islands Prime Minister Mark Brown is not sharing all the documents on his recent agreement signed with China.
Some details have been released, including working together on seabed mining, and looking at setting up embassies.
Winston Peters told Mike Hosking the leadership of the Cook Islands needs to tell people what's in the agreement.
He wants to trust them, but also verify what's in the agreement.
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The latest cuts in the US Government have been described as a “total farce”.
The Trump Administration has reversed the firings of hundreds of employees at the National Nuclear Security Administration, the department tasked with working on the nation’s nuclear weapons programs.
The cuts were part of a DOGE purge across the Department of Energy.
US Correspondent Richard Arnold told Mike Hosking they attempted to walk back the sackings and rehire the workers, but were unable to contact many of them since they’d been cut out of the email network.
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You have to read it to believe it and even in reading it, it might well be you still can't believe it.
A report, one of a number of investigations now underway, has reported back on whether personal Census and Covid intel collected at Manurewa Marae was misused for electoral purposes.
It's important to point out that this particular report didn’t have it within its scope to find out whether the marae did anything shonky. That's still to come.
The marae, if you recall, was managed by Takutai Tarsh Kemp, who was also a Māori Party candidate, and she went on to win the electorate by a handful of votes.
What this report does find is proof, beyond any shadow of a doubt, that even when you stack the public service full of people the way the Labour Government did, they are still incompetent.
The head of Stats NZ is going. He won't be reappointed. Each of the departments looked into —Stats NZ, Health New Zealand, and the Ministry of Health— have all been found hopelessly wanting.
It was a combination of not really having any oversight on information that may, or may not, be protected and that may, or may not, be inappropriately used, plus when concerns were raised still doing nothing about it.
"High trust models" were in place. Remember the golden Ardern and Hipkins days of high trust models?
It basically confirms the Public Service Commissioner's findings last week that the public service isn't fit for purpose. It has too many meetings, there are too many departments, we need a few gotten rid of, and if you designed it today it wouldn’t be like it is.
There are no safeguards, no regard for privacy, and the issues around privacy in the report shows it's just a litany of uselessness.
Remember the alleged skullduggerous part of whether the Māori Party used some of this intel to help their election campaign? That outcome is still to surface.
It's bad enough as it is. If they get pinged, it’s a full-blown scandal.
At least one head has rolled, but you can't make this stuff up. It's gliding on, it's worse than most would have thought and it's not even over.
The worst may well still be to come.
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Another large cut to the Official Cash Rate's on the cards today.
Economists and markets are almost certain the Reserve Bank will slash the OCR by 50-basis points.
That would take the cash rate from its current 4.25% to 3.75%.
BNZ Chief Economist Mike Jones told Mike Hosking that things are tracking as the Reserve Bank expected when they last met in November of last year.
He says that in that meeting, the Reserve Bank essentially said they would cut 50 points unless something threw them wildly off track, and he doesn’t believe that’s happened.
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