1 00:00:01,960 --> 00:00:06,320 Speaker 1: The issues is the interviews and the inside. Ryan Bridge 2 00:00:06,400 --> 00:00:09,639 Speaker 1: on a early edition with one roof make your property 3 00:00:09,680 --> 00:00:12,840 Speaker 1: search Simple news talks that'd be good morning. 4 00:00:12,880 --> 00:00:15,360 Speaker 2: It is six after five used talks that'd be coming 5 00:00:15,400 --> 00:00:18,279 Speaker 2: up this morning. The Organized Crime Task Force. This is 6 00:00:18,360 --> 00:00:22,239 Speaker 2: the Casey Costello group. They're going after cash and they're 7 00:00:22,239 --> 00:00:25,520 Speaker 2: going after crypto. Details of their latest report before six 8 00:00:25,640 --> 00:00:29,760 Speaker 2: this morning. The new undersea electricity cable connecting North and South. 9 00:00:29,880 --> 00:00:33,720 Speaker 2: Michael Gordon on the unemployment numbers. Mitch mccanni's stateside for US, 10 00:00:33,720 --> 00:00:37,159 Speaker 2: and we've got smoke at the Vatican. It's not white, 11 00:00:37,520 --> 00:00:39,720 Speaker 2: it's not black, it's pink. 12 00:00:42,240 --> 00:00:42,919 Speaker 1: The agenda. 13 00:00:43,240 --> 00:00:45,320 Speaker 2: Good morning, first day, the eighth of May. Great to 14 00:00:45,360 --> 00:00:48,200 Speaker 2: have your company. Pakistan's promising to hit back this morning 15 00:00:48,320 --> 00:00:51,800 Speaker 2: after India launched a missile strike. India's army says, of 16 00:00:51,800 --> 00:00:55,080 Speaker 2: course they were hit at least fifteen killed by Pakistani 17 00:00:55,120 --> 00:00:56,920 Speaker 2: shelling on its side. 18 00:00:57,360 --> 00:01:01,360 Speaker 3: India's closest relationship is with the United States and Pakistan 19 00:01:01,600 --> 00:01:04,040 Speaker 3: more and more is being supported by China. So we're 20 00:01:04,080 --> 00:01:07,080 Speaker 3: talking about a conflagration which is not just two nuclear 21 00:01:07,160 --> 00:01:10,560 Speaker 3: armed states, but also other major superpowers, and of course 22 00:01:10,680 --> 00:01:12,080 Speaker 3: Russia is also in the. 23 00:01:12,040 --> 00:01:24,880 Speaker 2: Mix meanwhile, to the Vatican and conclave is on inside 24 00:01:24,920 --> 00:01:27,040 Speaker 2: the chapel. They have no communication, of course, with the 25 00:01:27,040 --> 00:01:29,759 Speaker 2: outside world until they have finally made a decision. 26 00:01:30,319 --> 00:01:33,240 Speaker 4: All the cleaners, the people, the cooks, all the people 27 00:01:33,280 --> 00:01:36,160 Speaker 4: who will be looking after the cardinals. They've sworn an 28 00:01:36,160 --> 00:01:41,120 Speaker 4: oath of secrecy. But of course gossip is inevitable only 29 00:01:41,160 --> 00:01:43,760 Speaker 4: with the appearance of the next Pope on the balca 30 00:01:44,319 --> 00:01:46,600 Speaker 4: of Saint Peter's surely note for certain. 31 00:01:47,040 --> 00:01:51,160 Speaker 2: Remember, black smoke means no Pope. White smoke means new Pope. 32 00:01:51,480 --> 00:01:54,160 Speaker 2: We should get our first black or white smoke today. 33 00:01:54,200 --> 00:01:56,160 Speaker 2: We did have some pink earlier. I'll tell you about 34 00:01:56,160 --> 00:02:00,200 Speaker 2: that later on. Finally, Joe Biden, who's listening at this point, 35 00:02:00,480 --> 00:02:03,040 Speaker 2: done his first interview since leaving the White House. This 36 00:02:03,080 --> 00:02:05,440 Speaker 2: is where the BBC says the pressure from the Trump 37 00:02:05,440 --> 00:02:08,440 Speaker 2: administration on Ukraine to give up territory to Russia is 38 00:02:08,560 --> 00:02:10,040 Speaker 2: quote modern day appeasement. 39 00:02:10,960 --> 00:02:16,600 Speaker 5: Listen to what pun said when he talked about going 40 00:02:16,639 --> 00:02:21,440 Speaker 5: from Kiev into Ukraine. He can't stand the fact that 41 00:02:22,520 --> 00:02:28,440 Speaker 5: the Russian dictatorship that he runs, that the Soviet Union 42 00:02:28,960 --> 00:02:32,359 Speaker 5: has collapsed, and anybody thinks you're going to start is 43 00:02:32,440 --> 00:02:35,600 Speaker 5: a foolish. 44 00:02:34,320 --> 00:02:36,800 Speaker 1: The news you need this morning and the in depth 45 00:02:36,840 --> 00:02:40,919 Speaker 1: analysis early edition with Ryan Bridge and one roof make 46 00:02:41,000 --> 00:02:44,040 Speaker 1: your property search simple news talk said. 47 00:02:43,800 --> 00:02:46,200 Speaker 2: Be the old boys a hard listen, isn't it? Nine 48 00:02:46,240 --> 00:02:48,959 Speaker 2: minutes after five nine nineteen the number to text would 49 00:02:48,960 --> 00:02:52,120 Speaker 2: love to hear from you this morning. David Parker. I 50 00:02:52,600 --> 00:02:55,800 Speaker 2: enjoyed his valedictory speech he gave it last night. That 51 00:02:56,000 --> 00:02:58,120 Speaker 2: wasn't so much of a hard listen, and its typical 52 00:02:58,200 --> 00:03:01,359 Speaker 2: David Parker, very technical, but he made a couple of 53 00:03:01,440 --> 00:03:03,320 Speaker 2: interesting points and I want to run you through them 54 00:03:03,360 --> 00:03:05,919 Speaker 2: this morning. So a couple of things on landlords and 55 00:03:05,960 --> 00:03:10,360 Speaker 2: the interest deductibility he and Robertson. He says, well, not wrong, 56 00:03:10,480 --> 00:03:14,480 Speaker 2: but sort of wrong. He says. The problem is, as 57 00:03:14,639 --> 00:03:18,359 Speaker 2: they've always argued, landlord's outbid first home buys. 58 00:03:19,400 --> 00:03:24,320 Speaker 4: It's only possible because of lack's interest deductibility rules. Leveraged 59 00:03:24,440 --> 00:03:28,800 Speaker 4: landlords get capital subsidies year after year. Grant Robertson and 60 00:03:28,840 --> 00:03:31,040 Speaker 4: I fixed this, but sadly it was reversed. Maybe we 61 00:03:31,080 --> 00:03:32,760 Speaker 4: went a little bit far, but we were right. 62 00:03:34,360 --> 00:03:37,120 Speaker 2: Right in essence, No you weren't, and yes you did 63 00:03:37,160 --> 00:03:40,000 Speaker 2: go a little bit too far there, David. The cost 64 00:03:40,080 --> 00:03:43,000 Speaker 2: of renting, of course, went through the roof. There are 65 00:03:43,040 --> 00:03:45,440 Speaker 2: signs that's coming down now. But the bigger problem with it, 66 00:03:45,640 --> 00:03:49,280 Speaker 2: and anyone who's in business will know this well, is 67 00:03:49,320 --> 00:03:53,520 Speaker 2: that it is a business. And they may not like 68 00:03:53,560 --> 00:03:56,120 Speaker 2: that fact. It may not sound nice to have people 69 00:03:56,160 --> 00:03:59,880 Speaker 2: making modest profits off running a rental, but what's the alternative? 70 00:04:00,560 --> 00:04:04,080 Speaker 2: And if we accept it's a business, imagine trying to 71 00:04:04,160 --> 00:04:07,400 Speaker 2: run a business where one of your biggest costs, the 72 00:04:07,520 --> 00:04:10,720 Speaker 2: thing you spend most of your revenue on, can't be 73 00:04:10,760 --> 00:04:15,360 Speaker 2: offset against that revenue for tax purposes. It just doesn't 74 00:04:15,400 --> 00:04:19,200 Speaker 2: add up. This utopia that he describes would be a 75 00:04:19,279 --> 00:04:23,520 Speaker 2: wasteland with no business. But where Parker gets it right 76 00:04:23,600 --> 00:04:26,560 Speaker 2: in his valedictory, I think, and I'm not entirely sure 77 00:04:26,600 --> 00:04:29,760 Speaker 2: about this, but it's been on my mind lately as well. 78 00:04:29,839 --> 00:04:32,440 Speaker 2: Looking at the greens, particularly looking at the greens of 79 00:04:32,520 --> 00:04:37,159 Speaker 2: late is MMP, he says. And it was interesting watching 80 00:04:37,200 --> 00:04:39,720 Speaker 2: this because old Chippy was sitting there in the front 81 00:04:39,920 --> 00:04:44,040 Speaker 2: nodding his head as David Parker was saying this. He says, 82 00:04:44,400 --> 00:04:47,400 Speaker 2: ditch MMP and bring in STV. 83 00:04:47,640 --> 00:04:51,760 Speaker 4: Like the Aussies, we are all hostages to MMP. Why 84 00:04:51,839 --> 00:04:55,000 Speaker 4: else would so much political capital be fritted away on 85 00:04:55,080 --> 00:05:00,000 Speaker 4: identity politics while others culture wars and size society polarized. 86 00:05:00,839 --> 00:05:04,520 Speaker 4: To be clear, MMP drives these behaviors in main main 87 00:05:04,560 --> 00:05:08,320 Speaker 4: parties too. Under whose past the post New Zealand became 88 00:05:08,720 --> 00:05:11,800 Speaker 4: amongst the best country in the world. But EMMP was 89 00:05:11,839 --> 00:05:15,320 Speaker 4: meant to be better. Perhaps doctor Houghton is right and 90 00:05:15,520 --> 00:05:17,680 Speaker 4: MMP gets worse over time. 91 00:05:17,920 --> 00:05:19,960 Speaker 2: So he says, go with this TV. He said, we 92 00:05:20,040 --> 00:05:21,919 Speaker 2: should look at this again and we should go with 93 00:05:22,000 --> 00:05:24,159 Speaker 2: this TV. You know, where you rank your favorites, pick 94 00:05:24,200 --> 00:05:27,640 Speaker 2: your phase basically, and whoever gets past fifty percent and 95 00:05:27,640 --> 00:05:30,680 Speaker 2: and electorate wins. They do this in Australia. The point 96 00:05:30,760 --> 00:05:35,200 Speaker 2: is you must have an electorate. And I don't know 97 00:05:35,240 --> 00:05:37,520 Speaker 2: if he's right about the cultural wars and the identity 98 00:05:37,560 --> 00:05:40,320 Speaker 2: politics stuff, but I think there's a point to be 99 00:05:40,400 --> 00:05:46,240 Speaker 2: made about having an electorate and being competent. You're accountable 100 00:05:46,279 --> 00:05:49,680 Speaker 2: to a smaller group of people. They normally know you personally. 101 00:05:50,480 --> 00:05:53,120 Speaker 2: And I do trust most of us that we wouldn't 102 00:05:53,120 --> 00:05:57,200 Speaker 2: elect incompetent people on scale to represent us. You know, 103 00:05:57,240 --> 00:06:00,640 Speaker 2: it's easier to vote for people who have no idea 104 00:06:00,680 --> 00:06:03,960 Speaker 2: what they're doing when you don't actually rely on them 105 00:06:04,000 --> 00:06:07,640 Speaker 2: for anything practical. You know your immigration case will give 106 00:06:07,800 --> 00:06:10,400 Speaker 2: state highway netting an upgrade or whatever it might be. 107 00:06:10,800 --> 00:06:14,560 Speaker 2: So I think on that it may be worth looking 108 00:06:14,600 --> 00:06:18,360 Speaker 2: at it again. Maybe twelve After five News Talks heb 109 00:06:19,200 --> 00:06:21,400 Speaker 2: Ryan Bridge, Lots to come. We're going to get to 110 00:06:21,440 --> 00:06:24,159 Speaker 2: our reporters around the country after half five Michael Gordon 111 00:06:24,200 --> 00:06:27,720 Speaker 2: from Westpac. But next it's this cable undersea cable between 112 00:06:27,760 --> 00:06:30,719 Speaker 2: north and South. How much it'll cost us to put 113 00:06:30,720 --> 00:06:31,520 Speaker 2: a new one down. 114 00:06:32,880 --> 00:06:36,560 Speaker 1: Get ahead of the headlines on early edition with Ryan 115 00:06:36,640 --> 00:06:40,200 Speaker 1: Bridge and one Route, Make your property search simple. 116 00:06:40,480 --> 00:06:43,279 Speaker 2: News Talks B five A quarter past five Now News 117 00:06:43,279 --> 00:06:47,400 Speaker 2: Talks b SO conclave underway the Vatican. First vote expected 118 00:06:47,440 --> 00:06:50,080 Speaker 2: this afternoon their time, so that this morning our time. 119 00:06:50,240 --> 00:06:55,040 Speaker 2: Thereafter you'll have four votes held each day until one 120 00:06:55,120 --> 00:06:58,200 Speaker 2: candidate reaches the two thirds majority. So basically the lucky 121 00:06:58,279 --> 00:07:02,440 Speaker 2: number is eighty nine. Now the pink smoke thing, so 122 00:07:02,480 --> 00:07:06,760 Speaker 2: there are some Catholic women campaigners who released pink smoke 123 00:07:06,880 --> 00:07:10,520 Speaker 2: from flares. Obviously you're waiting for your black smoke and 124 00:07:10,520 --> 00:07:12,400 Speaker 2: you're waiting for your white smoke. But in the meantime, 125 00:07:12,400 --> 00:07:14,960 Speaker 2: we've got pink smoke, they say, because at the moment 126 00:07:15,040 --> 00:07:18,320 Speaker 2: only men can be priests. Certainly you couldn't have a 127 00:07:18,360 --> 00:07:22,000 Speaker 2: woman cardinal. Who are there the ones that are electing 128 00:07:22,040 --> 00:07:24,240 Speaker 2: the pope. So they say, not only should you have 129 00:07:24,360 --> 00:07:27,320 Speaker 2: female priests, but you should have female cardinals and presumably 130 00:07:27,360 --> 00:07:31,080 Speaker 2: eventually you should have a female pope. Bryan Bridge Transpower 131 00:07:31,080 --> 00:07:33,760 Speaker 2: says they need to replace the electricity cable connecting North 132 00:07:33,760 --> 00:07:36,240 Speaker 2: and South. The cost one point four billion dollars. The 133 00:07:36,320 --> 00:07:38,680 Speaker 2: question how much will it cost us on our power bills? 134 00:07:39,120 --> 00:07:41,800 Speaker 2: John Harvard's Major Electricity us as group chairman with me 135 00:07:41,840 --> 00:07:45,480 Speaker 2: this morning. John, Good morning, Good morning. So cables went 136 00:07:45,560 --> 00:07:49,800 Speaker 2: live first, went to nineteen sixty five, replaced nineteen ninety one. 137 00:07:50,040 --> 00:07:52,960 Speaker 2: End of life is twenty thirty. So we've got to 138 00:07:53,000 --> 00:07:53,600 Speaker 2: do this, don't we. 139 00:07:54,600 --> 00:07:57,600 Speaker 6: Oh, we absolutely do. The cable that connects the North 140 00:07:57,600 --> 00:07:59,600 Speaker 6: and South Island literally just keeps the light on them 141 00:07:59,640 --> 00:08:02,280 Speaker 6: both island, So it's absolutely essential infrastructure. 142 00:08:02,720 --> 00:08:06,360 Speaker 2: What'll it do to prices chan making the fix? 143 00:08:07,440 --> 00:08:09,680 Speaker 6: Yeah, So the one point four billion dollars that transpaer 144 00:08:09,680 --> 00:08:12,600 Speaker 6: has quoted, that will all get passed on to consumers. 145 00:08:12,760 --> 00:08:16,600 Speaker 6: So the proposal effectively is that consumers will pay one 146 00:08:16,600 --> 00:08:19,680 Speaker 6: point four billion dollars more than they're currently paying. And 147 00:08:19,760 --> 00:08:22,720 Speaker 6: then the proposal transpayer talks about possibly doing an additional 148 00:08:22,720 --> 00:08:25,680 Speaker 6: cable for extra sort of backup security that will be 149 00:08:25,680 --> 00:08:27,360 Speaker 6: in addition to the one point four billion. 150 00:08:27,720 --> 00:08:29,360 Speaker 2: All right, we'll come to it back up in a second, 151 00:08:29,360 --> 00:08:32,040 Speaker 2: but let's stick with one point four for now. That 152 00:08:32,160 --> 00:08:34,280 Speaker 2: sounds like a lot of money, but it would be 153 00:08:34,320 --> 00:08:36,520 Speaker 2: spread over the life of the asset, wouldn't it, And 154 00:08:36,600 --> 00:08:39,040 Speaker 2: transmission only eight percent of our bill as it is. 155 00:08:39,040 --> 00:08:41,320 Speaker 2: Do we have any idea what the number might actually 156 00:08:41,320 --> 00:08:41,760 Speaker 2: look like? 157 00:08:43,360 --> 00:08:46,040 Speaker 6: Not yet. It's important to note that the transpayer has 158 00:08:46,040 --> 00:08:48,400 Speaker 6: to put a proposal to the Commerce Commission, and the 159 00:08:48,440 --> 00:08:50,960 Speaker 6: Commerce Commission will have the final say and how much 160 00:08:51,280 --> 00:08:54,160 Speaker 6: Transpayer will spend. So until that happens, we don't know 161 00:08:54,200 --> 00:08:54,959 Speaker 6: the final number. 162 00:08:56,679 --> 00:08:59,640 Speaker 2: What do happen to manufacturers because they're obviously the big users. 163 00:09:00,760 --> 00:09:04,520 Speaker 6: Yeah, so what typically tends to happen is a greater 164 00:09:04,600 --> 00:09:07,760 Speaker 6: proportion of the costs of these projects falls on large 165 00:09:07,760 --> 00:09:11,960 Speaker 6: industrial manufacturers, so they will pay sort of more than 166 00:09:12,000 --> 00:09:13,880 Speaker 6: a fair share of the burden. And we're not arguing 167 00:09:13,880 --> 00:09:16,720 Speaker 6: with that. We need the electricity. But as we know, 168 00:09:16,880 --> 00:09:21,559 Speaker 6: many of our manufacturing companies are already struggling with very 169 00:09:21,600 --> 00:09:24,720 Speaker 6: high electricity prices, and that will just make this situation 170 00:09:24,800 --> 00:09:25,320 Speaker 6: even worse. 171 00:09:26,280 --> 00:09:29,040 Speaker 2: We don't have a backup cable as is right? Is 172 00:09:29,080 --> 00:09:31,240 Speaker 2: that done? What do other countries do. 173 00:09:32,800 --> 00:09:36,240 Speaker 6: Well? Most other countries are much more connected with each other. 174 00:09:37,120 --> 00:09:38,800 Speaker 6: So if you think if you're in Europe, you know, 175 00:09:38,880 --> 00:09:41,240 Speaker 6: if you're France and your Germany, you've got a land border, 176 00:09:41,280 --> 00:09:43,520 Speaker 6: you just you know, you've already got pylons and the 177 00:09:43,520 --> 00:09:45,880 Speaker 6: rest of it that connect to each other. But there 178 00:09:45,920 --> 00:09:48,640 Speaker 6: are countries where they do need cables that cross the sea. 179 00:09:49,160 --> 00:09:52,680 Speaker 6: So it's it's not new technology, it's the best way 180 00:09:52,720 --> 00:09:54,360 Speaker 6: to do it. 181 00:09:54,400 --> 00:09:56,000 Speaker 2: And it would be good to have a backup, wouldn't 182 00:09:56,040 --> 00:09:59,000 Speaker 2: it just in case things go tips up. Who benefits 183 00:09:59,040 --> 00:10:01,400 Speaker 2: most from the CA Is it the South? You know? 184 00:10:01,679 --> 00:10:04,240 Speaker 2: Do we send because I mean traditionally you think that 185 00:10:04,280 --> 00:10:07,240 Speaker 2: the South sends more to us? Is that still true. 186 00:10:08,840 --> 00:10:09,719 Speaker 6: On average? 187 00:10:09,920 --> 00:10:10,160 Speaker 7: Yes? 188 00:10:11,000 --> 00:10:14,520 Speaker 6: But sort of. A recent historical trend has certainly been 189 00:10:15,040 --> 00:10:17,640 Speaker 6: that more electricity is flowing from the North Island to 190 00:10:17,679 --> 00:10:20,640 Speaker 6: the South Island. Particularly, think like last year or this year, 191 00:10:20,640 --> 00:10:23,280 Speaker 6: which are dry years in the southern hydro lakes are 192 00:10:23,320 --> 00:10:26,920 Speaker 6: low and water well. Quite often. The North Island is moving, 193 00:10:27,000 --> 00:10:30,840 Speaker 6: say GEO, through more electricity or other forms of renewable electricity. 194 00:10:30,920 --> 00:10:33,320 Speaker 6: They are just more prevalent in the North Island down 195 00:10:33,360 --> 00:10:36,440 Speaker 6: to the South Island, and you get different season all 196 00:10:36,440 --> 00:10:39,199 Speaker 6: flows as well, so the electricity certainly flows both ways 197 00:10:39,200 --> 00:10:40,240 Speaker 6: now more than it used to. 198 00:10:40,559 --> 00:10:43,120 Speaker 2: Interesting, John, appreciate your time this morning. John Harvard a 199 00:10:43,240 --> 00:10:47,000 Speaker 2: major Electricity Users Group chair and time is nineteen after 200 00:10:47,040 --> 00:10:49,440 Speaker 2: five year. On news talks, there'd be Michael Gordon from Westpac. 201 00:10:49,520 --> 00:10:54,680 Speaker 1: Next on your radio and online on iHeartRadio early edition 202 00:10:54,960 --> 00:10:58,079 Speaker 1: with Ryan Bridge and One Roof to make your property 203 00:10:58,160 --> 00:10:59,199 Speaker 1: search simple. 204 00:11:00,800 --> 00:11:03,440 Speaker 2: Five twenty one. We've got the latest organized crime report 205 00:11:03,440 --> 00:11:06,360 Speaker 2: before six for you right now. Unemployment five point one 206 00:11:06,360 --> 00:11:08,280 Speaker 2: percent for quarter one, which is the same as the 207 00:11:08,320 --> 00:11:10,760 Speaker 2: quarter before it. No news is good news because all 208 00:11:10,800 --> 00:11:13,679 Speaker 2: the economists and the RBNZ for that matter, thought it 209 00:11:13,760 --> 00:11:16,520 Speaker 2: to go higher than that. Speaking of they released their 210 00:11:16,520 --> 00:11:21,120 Speaker 2: financial stability report yesterday, No major surprises. We're basically banking 211 00:11:21,160 --> 00:11:23,880 Speaker 2: on ocr cuts and the price of milk and meat 212 00:11:23,920 --> 00:11:26,440 Speaker 2: to get us out of the hole. Banks are making 213 00:11:26,440 --> 00:11:29,520 Speaker 2: a profit, which I know despite what you think is 214 00:11:29,559 --> 00:11:33,000 Speaker 2: a good thing, and should things really hlp the fan 215 00:11:33,120 --> 00:11:35,199 Speaker 2: with the tariffs. They've got cash to keep us going. 216 00:11:35,480 --> 00:11:38,200 Speaker 2: Westpac senior economist Michael Gordon with me this morning. Michael, 217 00:11:38,240 --> 00:11:41,880 Speaker 2: good morning, Good morning. Interesting that split between full time 218 00:11:41,880 --> 00:11:44,160 Speaker 2: and part time on the unemployment. 219 00:11:45,480 --> 00:11:47,760 Speaker 7: Yeah, I think it's one of the ways that the 220 00:11:47,760 --> 00:11:50,040 Speaker 7: the labor market does flex when you have a downturn, 221 00:11:51,120 --> 00:11:53,680 Speaker 7: so to the extent that people are sort of using 222 00:11:53,880 --> 00:11:57,440 Speaker 7: reduced hours as an alternative to layoffs. It's one factor 223 00:11:57,600 --> 00:12:00,560 Speaker 7: why the unemployment rate has risen. I think it's really 224 00:12:00,600 --> 00:12:02,920 Speaker 7: risen quite as high as as some of the people 225 00:12:02,960 --> 00:12:03,720 Speaker 7: were forecasting. 226 00:12:04,320 --> 00:12:06,080 Speaker 2: Yeah, so what do you do you think that that 227 00:12:06,280 --> 00:12:08,920 Speaker 2: is literally the reason that people have switched to part time. 228 00:12:10,480 --> 00:12:12,720 Speaker 7: It does seem to be one of the responses. It's 229 00:12:13,520 --> 00:12:16,040 Speaker 7: I mean, we're are sort of seeing growth in the 230 00:12:16,160 --> 00:12:18,319 Speaker 7: number of part time workers. It's not because of hiring, 231 00:12:18,400 --> 00:12:22,679 Speaker 7: I don't think, but it is. There's the useful indication 232 00:12:22,800 --> 00:12:24,480 Speaker 7: in terms of where we go from here. I think 233 00:12:24,559 --> 00:12:27,200 Speaker 7: as things pick up, businesses are going to be able 234 00:12:27,240 --> 00:12:29,040 Speaker 7: to get a bit more out of their existing workers 235 00:12:29,040 --> 00:12:31,000 Speaker 7: before they need to start hiring again. So I think 236 00:12:31,000 --> 00:12:34,520 Speaker 7: that's why we're seeing the job ads, for instance, I've 237 00:12:34,840 --> 00:12:36,600 Speaker 7: still pretty low at the moment. Business is not really 238 00:12:36,679 --> 00:12:38,240 Speaker 7: under pressure to hire at this stage. 239 00:12:38,440 --> 00:12:40,600 Speaker 2: Do you does this change your opinion of when it 240 00:12:40,679 --> 00:12:41,840 Speaker 2: might peak unemployment? 241 00:12:43,160 --> 00:12:45,840 Speaker 7: Yeah, a little bit. I mean, I think we are 242 00:12:45,880 --> 00:12:49,880 Speaker 7: getting around the peak here, and there's always a little 243 00:12:49,880 --> 00:12:51,920 Speaker 7: bit of wiggle room around the numbers from quarter to quarter. 244 00:12:52,480 --> 00:12:54,800 Speaker 7: But bear in mind we are coming out of a 245 00:12:54,840 --> 00:12:57,520 Speaker 7: couple of years where the Reserve Bank was really happy 246 00:12:57,559 --> 00:12:59,360 Speaker 7: to put the brakes on the economy to deal with 247 00:12:59,400 --> 00:13:03,240 Speaker 7: this serious inflation problem, and that's already changed in the 248 00:13:03,280 --> 00:13:07,200 Speaker 7: last nine months or so. So while it usually takes 249 00:13:07,240 --> 00:13:09,679 Speaker 7: some time for the ship to turn around, there is 250 00:13:09,720 --> 00:13:13,120 Speaker 7: reason to think that the job situation in the year 251 00:13:13,160 --> 00:13:15,840 Speaker 7: ahead should look better than it was from the last 252 00:13:16,040 --> 00:13:17,000 Speaker 7: or the previous year or so. 253 00:13:17,320 --> 00:13:20,440 Speaker 2: We'red the RBNZ Financial Stability Report out yesterday. What did 254 00:13:20,480 --> 00:13:23,280 Speaker 2: you make of it? 255 00:13:23,679 --> 00:13:26,600 Speaker 7: I think there was a little bit of focus on 256 00:13:26,880 --> 00:13:30,840 Speaker 7: their comments on the tariff effects. Obviously sort of early stages, 257 00:13:31,840 --> 00:13:34,520 Speaker 7: but it's not really something that's that's sort of directed 258 00:13:34,520 --> 00:13:38,480 Speaker 7: at the monetary policy implications for this, and of course 259 00:13:38,480 --> 00:13:41,160 Speaker 7: it is still early stages. We've got the reserve backs 260 00:13:41,160 --> 00:13:44,760 Speaker 7: actual monetary policy statement coming later this month, they'll probably 261 00:13:44,800 --> 00:13:47,040 Speaker 7: have a bit more thinking about what this might mean 262 00:13:47,080 --> 00:13:50,200 Speaker 7: to interest rates here, and it's it is a tricky 263 00:13:50,200 --> 00:13:52,440 Speaker 7: one because we're New Zealand's sort of not really directly 264 00:13:52,440 --> 00:13:55,720 Speaker 7: in the firing line in the way that the US 265 00:13:55,760 --> 00:13:59,160 Speaker 7: Central bankers they're going to be sort of met announcing 266 00:13:59,240 --> 00:14:02,720 Speaker 7: later this morning. They're kind of dealing with this fact 267 00:14:02,720 --> 00:14:04,840 Speaker 7: that it's going to actually be quite an inflationary effect 268 00:14:04,880 --> 00:14:05,400 Speaker 7: in the US. 269 00:14:05,440 --> 00:14:09,520 Speaker 2: At least, appreciate your time, Westpac Senior Economist Michael Gordon. Michael, 270 00:14:09,520 --> 00:14:11,040 Speaker 2: good to have you on the show. As always, it 271 00:14:11,160 --> 00:14:13,400 Speaker 2: is five twenty four News Talks CB. If you're one 272 00:14:13,440 --> 00:14:15,760 Speaker 2: of those people who likes to complain about any New 273 00:14:15,840 --> 00:14:18,640 Speaker 2: Zealand flight prices, the next one is for you. 274 00:14:19,200 --> 00:14:23,240 Speaker 1: The early edition full the show podcast on iHeartRadio Power 275 00:14:23,400 --> 00:14:24,440 Speaker 1: by News TALKSB. 276 00:14:25,440 --> 00:14:28,520 Speaker 2: News TALKSB. It is twenty six minutes after five. So 277 00:14:28,640 --> 00:14:31,840 Speaker 2: after all of the hand ringing, the complaints, the stomping 278 00:14:31,840 --> 00:14:34,320 Speaker 2: of feet, the comcoms shooting down, talk of a probe 279 00:14:34,360 --> 00:14:37,120 Speaker 2: and to domestic air fares, Foreign and co Will of 280 00:14:37,120 --> 00:14:41,520 Speaker 2: course see this as a vindication, a validation that despite 281 00:14:41,560 --> 00:14:45,360 Speaker 2: the headlines and consumer and zed's the market has broken claim. 282 00:14:45,400 --> 00:14:49,320 Speaker 2: In fact, the reality is their costs have gone up, 283 00:14:49,360 --> 00:14:52,480 Speaker 2: and surprise, surprise, it's expensive to run roots with high 284 00:14:52,600 --> 00:14:55,920 Speaker 2: fixed costs to small places with more sheep than people. 285 00:14:56,680 --> 00:15:01,440 Speaker 2: So they conclude doing a market study, which is easy politics, 286 00:15:01,800 --> 00:15:05,760 Speaker 2: it scratches the itch, won't actually achieve anything, and by 287 00:15:05,800 --> 00:15:08,560 Speaker 2: that they mean it won't lead to consumers getting a 288 00:15:08,560 --> 00:15:13,200 Speaker 2: better deal. Refreshing honesty. Could the same refreshing honesty you 289 00:15:13,240 --> 00:15:16,000 Speaker 2: have been applied to the claims about banking and supermarkets 290 00:15:16,000 --> 00:15:18,480 Speaker 2: and petrol stations, et cetera, et cetera, et cetera. The 291 00:15:18,520 --> 00:15:22,040 Speaker 2: list goes on, Like most things post COVID, costs have 292 00:15:22,200 --> 00:15:26,080 Speaker 2: gone up. Airport landing charges up, air traffic control up, 293 00:15:26,160 --> 00:15:30,640 Speaker 2: security levees up. And when you're in business and you 294 00:15:30,720 --> 00:15:33,360 Speaker 2: own we own this one, remember fifty one percent of it. 295 00:15:33,960 --> 00:15:37,120 Speaker 2: You recoup those costs by putting your own prices up. 296 00:15:37,520 --> 00:15:41,760 Speaker 2: We don't want them subsidizing flights and crashing our business. Right, 297 00:15:41,880 --> 00:15:45,440 Speaker 2: the business we own. We sold off the National Carrier 298 00:15:45,480 --> 00:15:48,720 Speaker 2: in nineteen eighty nine. We renationalized in two thousand and 299 00:15:48,840 --> 00:15:51,360 Speaker 2: one after Anset went bus that cost us close to 300 00:15:51,400 --> 00:15:54,600 Speaker 2: a billion bucks. An sets problem was high costs and 301 00:15:54,680 --> 00:16:00,280 Speaker 2: regulation changes when airlines failure gets expensive for tax payers. Now, 302 00:16:00,280 --> 00:16:02,560 Speaker 2: I don't want to defend an airline charging me four 303 00:16:02,640 --> 00:16:05,240 Speaker 2: hundred dollars to fly for forty minutes any more than 304 00:16:05,280 --> 00:16:08,200 Speaker 2: the next guy. But and this is the crux of 305 00:16:08,400 --> 00:16:11,680 Speaker 2: most of the complaints we hear through the media. Short flights, 306 00:16:12,000 --> 00:16:15,400 Speaker 2: regional flights are expensive to run and people don't use 307 00:16:15,440 --> 00:16:18,560 Speaker 2: them often enough. They use more fuel as a proportion 308 00:16:18,600 --> 00:16:21,960 Speaker 2: of a total flight because of the takeoff and the climb. 309 00:16:22,200 --> 00:16:24,240 Speaker 2: Takes a bit of gas to lift us into the sky, 310 00:16:24,360 --> 00:16:27,560 Speaker 2: especially now we're getting so fat. The cost of fuel 311 00:16:27,640 --> 00:16:30,200 Speaker 2: is a third of the operating cost for air New Zealand, 312 00:16:30,280 --> 00:16:33,000 Speaker 2: something foreign can't control. That's more the purview of a 313 00:16:33,000 --> 00:16:36,680 Speaker 2: Poutin or a sultan. Planes spend way too long sitting 314 00:16:36,720 --> 00:16:39,120 Speaker 2: on the ground. Your costs are higher, and you've got 315 00:16:39,120 --> 00:16:41,960 Speaker 2: fewer passengers to spread those costs over on the smaller routes. 316 00:16:42,520 --> 00:16:44,840 Speaker 2: Using jets, of course, that would be more efficient, but 317 00:16:44,920 --> 00:16:47,880 Speaker 2: again we don't have the people to fill them, which 318 00:16:47,920 --> 00:16:49,880 Speaker 2: is why I said the other day, and it's true, 319 00:16:49,920 --> 00:16:53,800 Speaker 2: but doesn't make it palatable. We're a small country. We 320 00:16:53,960 --> 00:17:00,760 Speaker 2: pay a price for sparsely populated, beautiful, untouched landscape. The 321 00:17:00,880 --> 00:17:03,680 Speaker 2: ComCom does say there's room for improvement, but on the 322 00:17:03,720 --> 00:17:07,760 Speaker 2: whole the real enemy here is the politician or the 323 00:17:07,880 --> 00:17:11,760 Speaker 2: talking head who tells us by simply bashing Air New 324 00:17:11,840 --> 00:17:15,200 Speaker 2: Zealand's head into the wall, they can make Kiwis fly 325 00:17:15,800 --> 00:17:19,160 Speaker 2: on the cheap bright and bread bread twenty nine. After 326 00:17:19,200 --> 00:17:21,760 Speaker 2: five year on news Talk, SAIDB. Lots of your feedback 327 00:17:21,800 --> 00:17:26,000 Speaker 2: on David Parker's speech. We'll get to that after news. 328 00:17:26,240 --> 00:17:29,000 Speaker 2: Our reporters all around the country and we're state site. 329 00:17:29,119 --> 00:17:29,920 Speaker 2: News Talk, SAIDB. 330 00:17:31,200 --> 00:17:33,840 Speaker 7: No elass name. 331 00:17:36,960 --> 00:17:39,880 Speaker 1: News and views you trust to start your day, It's 332 00:17:40,000 --> 00:17:43,720 Speaker 1: early edition with Ryan Bridge and one Room, Make your 333 00:17:43,760 --> 00:17:45,280 Speaker 1: property search simple. 334 00:17:45,520 --> 00:17:54,440 Speaker 8: News Talk SBET you good morning, twenty four minutes away 335 00:17:54,480 --> 00:17:54,920 Speaker 8: from six. 336 00:17:55,119 --> 00:17:58,320 Speaker 2: Welcome to your Thursday morning. Great to have your company, 337 00:17:58,400 --> 00:18:01,840 Speaker 2: our talking Air news Zieland and David Parker. David Parker 338 00:18:01,880 --> 00:18:05,959 Speaker 2: delivering his valedictory last night in Parliament and see basically 339 00:18:06,040 --> 00:18:09,800 Speaker 2: let's get rid of MMP. I'd prefer STV a lot 340 00:18:09,800 --> 00:18:11,840 Speaker 2: of support, well, a lot of support for getting rid 341 00:18:11,880 --> 00:18:14,720 Speaker 2: of MMP, but not so much love for STV. Ryan 342 00:18:14,840 --> 00:18:17,880 Speaker 2: STV gave us in Hamilton this textas says, gave us 343 00:18:18,240 --> 00:18:23,480 Speaker 2: the previous dender loving mayor so not keen on that Ryan. 344 00:18:23,520 --> 00:18:26,159 Speaker 2: The real problem with the New Zealand, says this text. 345 00:18:26,720 --> 00:18:30,640 Speaker 2: The turboprop service is the cancelations and at the drop 346 00:18:30,680 --> 00:18:33,680 Speaker 2: of a hat, not so much the cost. Then it's 347 00:18:33,720 --> 00:18:36,399 Speaker 2: their lack of customer service after the fact, as in 348 00:18:36,600 --> 00:18:39,720 Speaker 2: no cash refunds, etc. Twenty three minutes away from six 349 00:18:39,800 --> 00:18:43,720 Speaker 2: Now in America, I find this absolutely fascinating. There's a 350 00:18:43,760 --> 00:18:46,600 Speaker 2: guy who was Chris Palkes's name, was killed in a 351 00:18:46,720 --> 00:18:51,040 Speaker 2: road rage shooting in Arizona in twenty twenty one. The 352 00:18:51,119 --> 00:18:53,440 Speaker 2: guy this three and a half years later. The guy 353 00:18:53,480 --> 00:18:57,720 Speaker 2: who's up on charges for killing him, well, he's now 354 00:18:57,760 --> 00:19:03,159 Speaker 2: been sentenced. And the dead guy, Chris Palke, sort of 355 00:19:03,280 --> 00:19:07,480 Speaker 2: rises from the grave and does a victim impact statement 356 00:19:07,760 --> 00:19:12,879 Speaker 2: courtesy played on video to the court, courtesy of artificial intelligence. 357 00:19:13,520 --> 00:19:17,879 Speaker 9: To Gabriel Horksidas, the man who shot me, It is 358 00:19:17,920 --> 00:19:20,920 Speaker 9: a shame we encountered each other that day in those circumstances. 359 00:19:21,840 --> 00:19:25,480 Speaker 9: In another life we probably could have been friends. I 360 00:19:25,520 --> 00:19:27,760 Speaker 9: believe in forgiveness and in God who forgives. 361 00:19:28,440 --> 00:19:33,399 Speaker 2: Isn't that bizarre? Twenty two away from Sex Ryan Bridge, 362 00:19:33,520 --> 00:19:35,800 Speaker 2: joined to our reporters around the country. Now Callen Proctor 363 00:19:35,800 --> 00:19:38,600 Speaker 2: is in Duneda. Callum, the Catholic Bishop of Dunedin says 364 00:19:38,600 --> 00:19:40,600 Speaker 2: the new pope needs to be a bridge builder. 365 00:19:42,119 --> 00:19:42,280 Speaker 5: Here. 366 00:19:42,359 --> 00:19:45,359 Speaker 8: This is Michael Dooley, Catholic Bishop. 367 00:19:45,400 --> 00:19:45,640 Speaker 5: Here. 368 00:19:45,800 --> 00:19:50,760 Speaker 8: He says that he needs to carry on Francis's legacy. 369 00:19:51,000 --> 00:19:55,000 Speaker 8: And it's very significant that New Zealand has a presence 370 00:19:55,080 --> 00:19:58,800 Speaker 8: at the election at the Sistine chapelain Kiwi Cardinal John 371 00:19:58,880 --> 00:20:01,200 Speaker 8: Dewey says, it's quite a usual for such a small 372 00:20:01,640 --> 00:20:04,600 Speaker 8: church the size of New Zealand's to have that representation. 373 00:20:05,160 --> 00:20:07,000 Speaker 8: As we know, the doors of the Sistine Chapel have 374 00:20:07,080 --> 00:20:09,280 Speaker 8: now been locked on the conclave in which one hundred 375 00:20:09,320 --> 00:20:12,119 Speaker 8: and thirty five cardinals will select a new pope. The 376 00:20:12,200 --> 00:20:14,639 Speaker 8: last two elections lasted just for two days. 377 00:20:15,400 --> 00:20:16,760 Speaker 2: How's your weather today, Cullum. 378 00:20:17,680 --> 00:20:20,480 Speaker 8: It's mainly fine for us. Rain develops later this evening. 379 00:20:20,520 --> 00:20:22,880 Speaker 8: Gusty Nordley's here today the high twenty. 380 00:20:23,040 --> 00:20:25,800 Speaker 2: And claire As thank you, Callum, Claires and christ Heads 381 00:20:25,840 --> 00:20:28,320 Speaker 2: this morning, clear, good morning, good morning. Now you guys 382 00:20:28,359 --> 00:20:32,160 Speaker 2: are very proud of your storm water management today, Well. 383 00:20:31,880 --> 00:20:35,040 Speaker 10: We are, indeed national recognition. In fact, we've got the 384 00:20:35,400 --> 00:20:38,840 Speaker 10: one hundred and nine hectan facility to Kudu, which has 385 00:20:38,880 --> 00:20:42,200 Speaker 10: won two top awards as the Alto and New Zealand 386 00:20:42,240 --> 00:20:47,119 Speaker 10: Public Works Engineering Excellence Awards. Now this wetland area was 387 00:20:47,200 --> 00:20:50,800 Speaker 10: named best public Works Project over five million dollars and 388 00:20:50,920 --> 00:20:55,160 Speaker 10: also received an Excellence Award for Environment and Sustainability. Now 389 00:20:55,200 --> 00:20:57,919 Speaker 10: basically it's an expanse of wetland area as well as 390 00:20:57,960 --> 00:21:01,600 Speaker 10: storm water storage and film traytion basins. We saw it 391 00:21:01,640 --> 00:21:04,480 Speaker 10: in action last week and mere Film Major says the 392 00:21:04,560 --> 00:21:08,400 Speaker 10: recognition does feel very timely given the stormwater network played 393 00:21:08,440 --> 00:21:11,359 Speaker 10: such a critical role during our record rainfall last week. 394 00:21:11,480 --> 00:21:14,320 Speaker 2: It certainly did. How's you weather today, clear. 395 00:21:14,560 --> 00:21:16,960 Speaker 10: Mainly fine here a bit of thickening high cloud and 396 00:21:17,000 --> 00:21:19,680 Speaker 10: the wheat stuff s arriving a bit later. Dusty Nordley's 397 00:21:19,720 --> 00:21:21,040 Speaker 10: and twenty one degrees. 398 00:21:20,800 --> 00:21:22,920 Speaker 2: Have a good one. Thank you. Mexis and Wellington Max. 399 00:21:22,960 --> 00:21:26,399 Speaker 2: Good morning, good morning. Now you've got some pretty nasty 400 00:21:26,440 --> 00:21:28,119 Speaker 2: graffiti going up around the city. 401 00:21:28,600 --> 00:21:31,320 Speaker 11: Yeah. This popped up early yesterday. Thankfully, within a few 402 00:21:31,320 --> 00:21:34,439 Speaker 11: hours had been painted over. The city council claimed it 403 00:21:34,520 --> 00:21:37,119 Speaker 11: had cleaned it up. The Jewish Council reckoned it was 404 00:21:37,160 --> 00:21:39,520 Speaker 11: a member of the community. Graffiti at the top of 405 00:21:39,600 --> 00:21:42,959 Speaker 11: Adolph Street in Ardol Valley. I won't repeat exactly what 406 00:21:42,960 --> 00:21:46,159 Speaker 11: it said, but it was very pointedly anti Semitic. The 407 00:21:46,200 --> 00:21:48,919 Speaker 11: Jewish Council says it's been seeing an increase in this 408 00:21:48,960 --> 00:21:51,800 Speaker 11: sort of thing, hatred, slurs and in the wake of 409 00:21:51,800 --> 00:21:55,160 Speaker 11: attacks on Gaza Jewish children, abused in schools, attempted arson 410 00:21:55,240 --> 00:21:58,960 Speaker 11: death threats. The Race Relations Commissioner, doctor Melissa Darby has 411 00:21:59,000 --> 00:22:03,640 Speaker 11: weighed in. She calls it's shocking the graffiti, confronting and 412 00:22:03,720 --> 00:22:07,440 Speaker 11: an alarming normalization of anti Semitism. A lot of pro 413 00:22:07,480 --> 00:22:11,920 Speaker 11: Palestine imaging up around Wellington as well, graffiti that there's 414 00:22:11,960 --> 00:22:14,600 Speaker 11: been a push to keep up as it's labeled as art. 415 00:22:14,760 --> 00:22:18,760 Speaker 11: Effectively the counselors and certain counselors and mayor last year 416 00:22:18,840 --> 00:22:23,320 Speaker 11: late last year said pro Palestine flags, slogans, etc. Should 417 00:22:23,320 --> 00:22:25,439 Speaker 11: remain up as art, but this is very different. This 418 00:22:25,520 --> 00:22:28,960 Speaker 11: is anti semitism and thankfully painted over very quickly. 419 00:22:29,119 --> 00:22:31,960 Speaker 2: Yeah, thankfully they are keeping on top of that. How's 420 00:22:31,960 --> 00:22:32,640 Speaker 2: your WEATHERMX? 421 00:22:33,119 --> 00:22:35,600 Speaker 11: Mostly cloudy today with the odd shower seventeen the high 422 00:22:35,680 --> 00:22:36,359 Speaker 11: central brilliant. 423 00:22:36,400 --> 00:22:39,480 Speaker 2: Thank you Neivers and Aukland NEOVA. Good morning meetings. Greetings. 424 00:22:39,520 --> 00:22:43,080 Speaker 2: Now we've had Actually I saw a great photo of 425 00:22:43,200 --> 00:22:47,080 Speaker 2: from behind of Helen Clark and John Key. Oh you 426 00:22:47,160 --> 00:22:50,040 Speaker 2: said this event, Yes, it sounded but weird actually, but 427 00:22:51,359 --> 00:22:55,640 Speaker 2: she was resting her head on his shoulder. Look, he 428 00:22:55,680 --> 00:22:58,240 Speaker 2: was obviously saying something to her during this event. It 429 00:22:58,280 --> 00:23:01,000 Speaker 2: was quite a cute little photo. Well, I wonder what 430 00:23:01,080 --> 00:23:03,760 Speaker 2: they would have said. Wow, they're probably just you're looking 431 00:23:03,800 --> 00:23:06,840 Speaker 2: great today. Yeah, I shouldn't. I should have nice yet 432 00:23:06,840 --> 00:23:09,119 Speaker 2: when you know when who. 433 00:23:09,119 --> 00:23:09,760 Speaker 3: I think you are? 434 00:23:10,240 --> 00:23:13,000 Speaker 2: Hey, but they're both sort of an agreeance on the 435 00:23:13,040 --> 00:23:14,359 Speaker 2: Auckland bed tax idea. 436 00:23:14,560 --> 00:23:17,159 Speaker 12: Yes, now, look they've both come out in favor of 437 00:23:17,200 --> 00:23:20,639 Speaker 12: an Auckland bid Tex obviously to support major events and 438 00:23:20,720 --> 00:23:23,119 Speaker 12: as you say, this event marking the fifteenth year of 439 00:23:23,119 --> 00:23:23,800 Speaker 12: the super City. 440 00:23:24,040 --> 00:23:25,200 Speaker 1: They're there and. 441 00:23:25,119 --> 00:23:27,160 Speaker 12: They both spoke in support of the measure. And I'm 442 00:23:27,200 --> 00:23:29,439 Speaker 12: sure you know Wayne Brown to be very happy Auckland 443 00:23:29,480 --> 00:23:31,600 Speaker 12: here because he's been a staunch advocate of the policy. 444 00:23:32,080 --> 00:23:34,920 Speaker 12: Simeon Brown, who's the Minister for Auckland. He told the panel, Look, 445 00:23:34,960 --> 00:23:37,359 Speaker 12: it's not something that they came pained on and it's 446 00:23:37,920 --> 00:23:40,480 Speaker 12: well he's saying it wasn't really a priority. So let's 447 00:23:40,480 --> 00:23:43,000 Speaker 12: see what's happening there. But pretty good that Clark and 448 00:23:43,080 --> 00:23:44,919 Speaker 12: Key have both come out in support of that. Oh 449 00:23:44,960 --> 00:23:47,639 Speaker 12: that's a lovely wee yarns. I want to see that photo. 450 00:23:47,760 --> 00:23:48,480 Speaker 2: It's a great photo. 451 00:23:48,480 --> 00:23:49,240 Speaker 13: Wh did you see it? 452 00:23:50,840 --> 00:23:57,199 Speaker 12: I must be in the media right what day. 453 00:23:58,280 --> 00:24:01,160 Speaker 2: The problem with it is the word isn't it? That's 454 00:24:01,200 --> 00:24:03,080 Speaker 2: why they don't want to go near it. But it 455 00:24:03,119 --> 00:24:04,520 Speaker 2: does make a lot of sense. 456 00:24:04,440 --> 00:24:06,920 Speaker 12: And especially for Auckland four events and things like that. 457 00:24:07,040 --> 00:24:09,879 Speaker 2: Only isn't it? Yeah, it does, So we're on board. 458 00:24:10,040 --> 00:24:10,400 Speaker 14: We are. 459 00:24:10,560 --> 00:24:13,200 Speaker 2: You lean your head into my shoulder and we can 460 00:24:13,480 --> 00:24:14,359 Speaker 2: kumbayar on that. 461 00:24:14,600 --> 00:24:15,640 Speaker 10: Bay ya. 462 00:24:16,280 --> 00:24:16,800 Speaker 2: How's the weather? 463 00:24:16,840 --> 00:24:19,960 Speaker 12: And we sho on the few showers possibly heavy today, 464 00:24:20,640 --> 00:24:24,720 Speaker 12: becoming more frequent this evening, but still hot twenty one man, 465 00:24:24,720 --> 00:24:26,720 Speaker 12: it was hot yesterday was neither? 466 00:24:27,040 --> 00:24:29,200 Speaker 2: Thank you? Good to see yes seventeen away from six 467 00:24:29,280 --> 00:24:32,679 Speaker 2: News talks thereb where with Nick Harber Stateside after this 468 00:24:33,000 --> 00:24:36,680 Speaker 2: and there's a new report out this morning on transnational 469 00:24:36,880 --> 00:24:40,080 Speaker 2: organized crime? Did you know that we have and I 470 00:24:40,119 --> 00:24:42,080 Speaker 2: didn't know this until I read this report, but did 471 00:24:42,119 --> 00:24:46,000 Speaker 2: you know that we have cryptocurrency? Atm machines, about two 472 00:24:46,080 --> 00:24:48,960 Speaker 2: hundred of them in New Zealand. This is a problem 473 00:24:49,200 --> 00:24:50,360 Speaker 2: and they want them gone. 474 00:24:50,880 --> 00:24:54,760 Speaker 1: International correspondence with ends and eye insurance, peace of mind 475 00:24:54,800 --> 00:24:56,160 Speaker 1: for New Zealand business. 476 00:24:56,600 --> 00:24:59,080 Speaker 2: You talk, they'd be. It's fourteen minutes away from sixty 477 00:24:59,280 --> 00:25:01,880 Speaker 2: cardinals who are electing the new pope, and the Sistine 478 00:25:01,960 --> 00:25:04,280 Speaker 2: Chapel still locked away. It's a secret ballot, of course, 479 00:25:04,320 --> 00:25:06,480 Speaker 2: still locked away. We haven't had any smoke yet, so 480 00:25:06,560 --> 00:25:08,360 Speaker 2: we don't know whether there's even been a vote held, 481 00:25:08,400 --> 00:25:10,760 Speaker 2: but we are expecting mine inside the next basically that 482 00:25:10,840 --> 00:25:12,800 Speaker 2: we don't have a pope. We don't have a pope 483 00:25:12,840 --> 00:25:15,040 Speaker 2: at this point, but we hope to bring you that 484 00:25:15,160 --> 00:25:17,120 Speaker 2: news as soon as we get it. If they don't 485 00:25:17,200 --> 00:25:19,159 Speaker 2: do it in the first round today, there only be 486 00:25:19,280 --> 00:25:21,560 Speaker 2: one vote today, and then if they don't do it, 487 00:25:21,600 --> 00:25:24,560 Speaker 2: then there's four votes every day thereafter until they finally 488 00:25:24,640 --> 00:25:26,760 Speaker 2: get one. But let's go down to Nick Harbor who 489 00:25:27,400 --> 00:25:29,240 Speaker 2: Nick Harper, I should say, he's in the US for us. 490 00:25:29,359 --> 00:25:29,520 Speaker 5: Nick. 491 00:25:29,680 --> 00:25:32,359 Speaker 14: Good morning, Yeah, good morning to you. 492 00:25:32,640 --> 00:25:34,320 Speaker 2: Good to have you on the show. Now, Biden's done 493 00:25:34,359 --> 00:25:36,639 Speaker 2: this interview with the BBC. He's taken a few shots 494 00:25:36,720 --> 00:25:38,200 Speaker 2: at Trump, House. It playing out. 495 00:25:39,160 --> 00:25:41,879 Speaker 14: Yeah, this first interview was long awaited. It appeared on 496 00:25:41,920 --> 00:25:44,240 Speaker 14: the BBC. He spoke about a whole range of things, 497 00:25:44,280 --> 00:25:46,399 Speaker 14: but one of the big topics that's making headlines is 498 00:25:46,440 --> 00:25:48,480 Speaker 14: the fact that, quite simply, he said he had no 499 00:25:48,720 --> 00:25:52,400 Speaker 14: regrets for dropping out of the presidential race just four 500 00:25:52,480 --> 00:25:54,960 Speaker 14: months before the election. He said that he'd done so 501 00:25:55,200 --> 00:25:57,800 Speaker 14: much during his time in office it made it difficult 502 00:25:58,119 --> 00:26:00,000 Speaker 14: to walk away. He said it was a hard decision. 503 00:26:00,480 --> 00:26:02,719 Speaker 14: Of course. He handed the bat on over to Kamala 504 00:26:02,760 --> 00:26:05,359 Speaker 14: Harris's vice president, and he said that even though she 505 00:26:05,480 --> 00:26:07,800 Speaker 14: only had about three and a half months to mount 506 00:26:07,840 --> 00:26:10,679 Speaker 14: a campaign, he didn't think it would have mattered if 507 00:26:10,720 --> 00:26:13,200 Speaker 14: he dropped out earlier. He also spoke but spoke about 508 00:26:13,240 --> 00:26:16,200 Speaker 14: Donald Trump's plans to try and make Canada the fifty 509 00:26:16,240 --> 00:26:19,600 Speaker 14: first state of the United States to take Greenland by force. 510 00:26:20,080 --> 00:26:23,600 Speaker 14: He said that that was despicable, saying no president should 511 00:26:23,640 --> 00:26:26,000 Speaker 14: talk like that. And on the Russia Ukraine War, he 512 00:26:26,040 --> 00:26:29,120 Speaker 14: said it was modern day appeasement to give a deal 513 00:26:29,359 --> 00:26:32,399 Speaker 14: to Russia that seemed to favor Moscow over Ukraine at 514 00:26:32,480 --> 00:26:36,159 Speaker 14: giving away large tracks of Ukrainian territory that Russia has 515 00:26:36,240 --> 00:26:37,840 Speaker 14: taken during this conflict. 516 00:26:37,640 --> 00:26:39,600 Speaker 2: Neick, how do people see that claim from him? You know, 517 00:26:39,880 --> 00:26:42,040 Speaker 2: does it sounds a bit delusional to say if I 518 00:26:42,119 --> 00:26:44,720 Speaker 2: had pulled out of the race sooner, it would have 519 00:26:44,800 --> 00:26:48,080 Speaker 2: made no difference. I mean, he wouldn't have had that debate. 520 00:26:48,240 --> 00:26:51,760 Speaker 14: You know, Well, well absolutely, I mean it went badly, 521 00:26:51,840 --> 00:26:53,639 Speaker 14: badly wrong for him in the last year. It was 522 00:26:53,720 --> 00:26:56,680 Speaker 14: very clear that he was struggling that disastrous debate and 523 00:26:56,760 --> 00:26:59,680 Speaker 14: about June time, that really was the final nail in 524 00:26:59,760 --> 00:27:04,359 Speaker 14: The Democrats apparently had been screaming at him for months 525 00:27:04,480 --> 00:27:08,080 Speaker 14: before that to consider his future to potentially drop out 526 00:27:08,119 --> 00:27:10,439 Speaker 14: of the race. But if he'd done so much earlier, 527 00:27:10,520 --> 00:27:12,880 Speaker 14: maybe a year or so before he did, there would 528 00:27:12,880 --> 00:27:14,879 Speaker 14: have been a real chance, I think for Democrats to 529 00:27:15,320 --> 00:27:18,000 Speaker 14: try and find a candidate that they think would have 530 00:27:18,040 --> 00:27:20,720 Speaker 14: beaten Donald Trump in the election. They just simply weren't 531 00:27:20,720 --> 00:27:23,479 Speaker 14: given that chance due to that very late decision by 532 00:27:23,520 --> 00:27:24,280 Speaker 14: President Biden. 533 00:27:24,480 --> 00:27:26,920 Speaker 2: Yeah, interesting stuff, and Nock appreciate your time. Nick Harper, 534 00:27:27,040 --> 00:27:29,840 Speaker 2: US correspondent, Picture story News. It is twelve away from 535 00:27:29,920 --> 00:27:33,920 Speaker 2: six Bryan Bridge. Casey Costello's organized crime task force that 536 00:27:34,000 --> 00:27:36,440 Speaker 2: April reported is out and it's quite a doozy actually, 537 00:27:36,560 --> 00:27:38,520 Speaker 2: some interesting stuff in here. They say one of the 538 00:27:38,560 --> 00:27:41,040 Speaker 2: biggest lies in the world is that crime doesn't pay. 539 00:27:41,760 --> 00:27:46,160 Speaker 2: It actually does. Cops currently restraining seventy five million dollars 540 00:27:46,160 --> 00:27:48,680 Speaker 2: a year in assets. They want to do more. So 541 00:27:48,840 --> 00:27:51,600 Speaker 2: some of the recommendations from them. They say, ideally you 542 00:27:51,640 --> 00:27:56,040 Speaker 2: would ban cash all together in New Zealand because obviously 543 00:27:56,119 --> 00:27:59,840 Speaker 2: that's the currency of your criminal right. But they say, 544 00:28:00,040 --> 00:28:01,760 Speaker 2: can't do that, so you've got to restrict its use. 545 00:28:02,760 --> 00:28:06,960 Speaker 2: Certain industries they say, like construction, hospitality, agriculture. Certain industries 546 00:28:07,000 --> 00:28:10,720 Speaker 2: they say should be banned from paying wages in cash. 547 00:28:10,800 --> 00:28:13,320 Speaker 2: You would have to use electronic means. They want the 548 00:28:13,440 --> 00:28:17,040 Speaker 2: cops to be able to monitor bank accounts in real time. 549 00:28:17,119 --> 00:28:19,280 Speaker 2: A whole bunch of stuff in here. Joining me to 550 00:28:19,359 --> 00:28:23,919 Speaker 2: discuss Glen Dobson, the Drug Detection Agency CEO. Glenn, good morning, Yeah. 551 00:28:23,800 --> 00:28:24,359 Speaker 15: Good morning Rod. 552 00:28:24,440 --> 00:28:25,119 Speaker 2: What did you make of that? 553 00:28:26,320 --> 00:28:29,399 Speaker 15: Yeah, look, it's interesting reading. I think the main part 554 00:28:29,440 --> 00:28:32,720 Speaker 15: of the report reinforce it you favorable conditions in terms 555 00:28:32,720 --> 00:28:34,840 Speaker 15: of business, improve the market, and that's the same for 556 00:28:35,280 --> 00:28:37,719 Speaker 15: transnational organized crime groups. You know, we're moving a lot 557 00:28:37,720 --> 00:28:39,880 Speaker 15: of drugs New Zealand at the moment, and they go, 558 00:28:40,000 --> 00:28:42,320 Speaker 15: I guess is to make unfavorable are taking cash and 559 00:28:42,360 --> 00:28:43,840 Speaker 15: bring around other regulations around that. 560 00:28:44,080 --> 00:28:48,440 Speaker 2: The problem they've always got is that crime moves moves fast, 561 00:28:48,720 --> 00:28:51,920 Speaker 2: and enforcement agencies can only move at the speed of law, 562 00:28:52,240 --> 00:28:53,960 Speaker 2: and that often takes too long. 563 00:28:55,040 --> 00:28:58,280 Speaker 15: Yeah, that's right, and that's a challenge not only domestically 564 00:28:58,400 --> 00:29:01,400 Speaker 15: in New Zealand, but obviously we're talking about transnational organized crime. 565 00:29:02,160 --> 00:29:05,200 Speaker 15: The agencies obviously have to play within the rules the 566 00:29:05,320 --> 00:29:08,200 Speaker 15: regulations allow them to play with. And I think what 567 00:29:08,320 --> 00:29:11,160 Speaker 15: this report is doing is saying, hey, look, we need. 568 00:29:11,080 --> 00:29:11,600 Speaker 6: To move faster. 569 00:29:11,760 --> 00:29:13,440 Speaker 15: We need to move with the times. We're deal with 570 00:29:13,520 --> 00:29:16,240 Speaker 15: financial markets and that moves quickly, and we need to 571 00:29:16,240 --> 00:29:21,000 Speaker 15: give our authorities the best chance to target the profits 572 00:29:21,480 --> 00:29:24,280 Speaker 15: of the transnational organized crime groups to stop these drugs 573 00:29:24,320 --> 00:29:25,120 Speaker 15: coming into our country. 574 00:29:25,320 --> 00:29:27,840 Speaker 2: That graph, how scary was it looking at that graph 575 00:29:27,920 --> 00:29:31,040 Speaker 2: that shows the price of myth and fetamine and which 576 00:29:31,120 --> 00:29:34,680 Speaker 2: has come down, but the use the consumption of it 577 00:29:34,800 --> 00:29:36,840 Speaker 2: that there's just a line going to the sky. 578 00:29:38,800 --> 00:29:40,840 Speaker 15: Yeah, look, that is really scary for the country. And 579 00:29:41,480 --> 00:29:43,320 Speaker 15: we've seen recent is on the waist wood a stacks 580 00:29:43,320 --> 00:29:45,040 Speaker 15: show that myth is going through the roof as well. 581 00:29:46,360 --> 00:29:48,840 Speaker 15: The drug Tex changing. We had a conference just last week. 582 00:29:48,920 --> 00:29:52,800 Speaker 15: We had some US experts over speaking about the global 583 00:29:52,960 --> 00:29:54,760 Speaker 15: movements of drugs and so on, and one of our 584 00:29:54,840 --> 00:29:58,920 Speaker 15: experts on myth actually opened the conference with saying very clearly, 585 00:29:59,320 --> 00:30:01,800 Speaker 15: at all is all about the money. That's the one 586 00:30:01,840 --> 00:30:03,640 Speaker 15: thing it's all about. And whether they're moving drugs or 587 00:30:03,640 --> 00:30:06,480 Speaker 15: where they're moving human trafficking, whether they're doing other sort 588 00:30:06,520 --> 00:30:08,760 Speaker 15: of illicit trade, it's all about the money. So I 589 00:30:08,880 --> 00:30:12,320 Speaker 15: really support this report trying to cut their ability to 590 00:30:12,520 --> 00:30:13,200 Speaker 15: use the profits. 591 00:30:13,600 --> 00:30:16,520 Speaker 2: Yeah, interesting stuff. Appreciate your time this morning, Glenn. Glenn Dobson, 592 00:30:16,560 --> 00:30:20,640 Speaker 2: the Drug detect Detectant Agency CEO, just gone nine minutes 593 00:30:20,640 --> 00:30:22,040 Speaker 2: away from six. 594 00:30:22,240 --> 00:30:22,400 Speaker 14: Yeah. 595 00:30:22,440 --> 00:30:24,560 Speaker 2: One of the other things that it mentions is the 596 00:30:24,920 --> 00:30:28,080 Speaker 2: crypto ATMs. We've got about two hundred crypto ATMs in 597 00:30:28,120 --> 00:30:31,000 Speaker 2: New Zealand and they say we shouldn't. They should all 598 00:30:31,040 --> 00:30:33,280 Speaker 2: be banned. Nine to six mic next. 599 00:30:34,640 --> 00:30:38,040 Speaker 1: Ryan Bridge on early edition where the one Room Make 600 00:30:38,120 --> 00:30:41,200 Speaker 1: Your Property Search Simple, used Talk ZIBB. 601 00:30:42,000 --> 00:30:44,560 Speaker 2: Seven away from six news Talk sib So we're waiting 602 00:30:44,640 --> 00:30:47,840 Speaker 2: for a pope at the Vatican City and this text 603 00:30:47,920 --> 00:30:50,080 Speaker 2: because we were talking earlier about David Parker, he had 604 00:30:50,120 --> 00:30:53,000 Speaker 2: his valedictory last night. Could he be at the new Pope? No, 605 00:30:53,600 --> 00:30:55,560 Speaker 2: he had his valedictory last night and it was interesting. 606 00:30:55,600 --> 00:30:57,480 Speaker 2: He said, get rid of m MP. He says, in 607 00:30:57,560 --> 00:30:59,320 Speaker 2: an ideal word, you would get rid of MP and 608 00:30:59,440 --> 00:31:02,960 Speaker 2: he would go for STV. Ryan says this text. What 609 00:31:03,160 --> 00:31:05,360 Speaker 2: voting system are they using to find the new Pope? 610 00:31:05,480 --> 00:31:09,440 Speaker 2: Could that be STV? Well, no, I remember black smokers. No, 611 00:31:09,640 --> 00:31:11,760 Speaker 2: we haven't had any smoke yet. They are voting at 612 00:31:11,760 --> 00:31:14,040 Speaker 2: the moment. Black smokers, no, white smokers. 613 00:31:14,160 --> 00:31:14,320 Speaker 6: Yes. 614 00:31:15,120 --> 00:31:19,680 Speaker 2: And basically each cardinal writes down their favorite on a 615 00:31:19,720 --> 00:31:23,640 Speaker 2: piece of paper. It goes to a little box. They 616 00:31:23,760 --> 00:31:26,760 Speaker 2: count them and you need a two thirds majority. Eighty 617 00:31:26,880 --> 00:31:30,719 Speaker 2: nine is the number, and they keep going until somebody 618 00:31:30,800 --> 00:31:34,760 Speaker 2: gets to two thirds. Six away from six Crayon Bridge, Mike, 619 00:31:34,840 --> 00:31:35,800 Speaker 2: good morning morning. 620 00:31:35,880 --> 00:31:38,960 Speaker 13: How many do you think because we were talking about 621 00:31:39,000 --> 00:31:42,280 Speaker 13: this outside. First of all, they've been there for two weeks, right, 622 00:31:42,760 --> 00:31:44,920 Speaker 13: So just imagine your day. My day's a busy day. 623 00:31:45,000 --> 00:31:46,960 Speaker 13: Your day's a busy day because we've got stuck to 624 00:31:47,040 --> 00:31:49,200 Speaker 13: do him. We our show starts at five or six 625 00:31:49,240 --> 00:31:52,080 Speaker 13: o'clock and we've got some preparation. So if you're a cardinal, 626 00:31:52,160 --> 00:31:53,160 Speaker 13: What is it you do all day? 627 00:31:53,400 --> 00:31:55,680 Speaker 2: Literally? What does it think deeply? 628 00:31:55,920 --> 00:31:56,320 Speaker 7: Exactly? 629 00:31:56,760 --> 00:31:58,560 Speaker 13: That must get dull after a while, mustn't it. 630 00:31:58,960 --> 00:31:59,920 Speaker 2: But that's whither also old. 631 00:32:00,000 --> 00:32:02,000 Speaker 13: So then you go into your room and you go, 632 00:32:02,640 --> 00:32:06,040 Speaker 13: after what, let's say, three days, you're going, God, this 633 00:32:06,200 --> 00:32:09,040 Speaker 13: is boring, and so you go, Look, I don't like Brian, 634 00:32:09,160 --> 00:32:11,280 Speaker 13: but look, I'm just going to write Brian down. 635 00:32:11,240 --> 00:32:14,760 Speaker 2: But I think it would be probably the most interesting 636 00:32:14,880 --> 00:32:18,600 Speaker 2: time of your career. Because that's politicet, that's the set 637 00:32:19,760 --> 00:32:22,280 Speaker 2: I'm leading to. It's the sad business of that little 638 00:32:22,400 --> 00:32:26,160 Speaker 2: moment in time to do. Your relevancy has never been greater. 639 00:32:26,360 --> 00:32:28,960 Speaker 2: You may be yourreveralent. Maybe the food inside's good. What 640 00:32:29,120 --> 00:32:32,080 Speaker 2: do you think, Well, they got chiefs, they've got a 641 00:32:32,120 --> 00:32:35,120 Speaker 2: guest house and script it for but they've been looked after. 642 00:32:35,240 --> 00:32:36,920 Speaker 2: What do you think about because this morning we had 643 00:32:37,000 --> 00:32:41,280 Speaker 2: pink smoke. The female Catholics were saying we should be 644 00:32:41,400 --> 00:32:42,960 Speaker 2: in there as cardinals pecking. 645 00:32:43,320 --> 00:32:45,920 Speaker 13: Is that pay equity as well? Are they running through 646 00:32:45,920 --> 00:32:49,320 Speaker 13: they're running that particular program in there? Do they want 647 00:32:49,360 --> 00:32:50,000 Speaker 13: their own smoke? 648 00:32:50,200 --> 00:32:52,600 Speaker 2: What do you think about the idea of a woman pope? 649 00:32:53,000 --> 00:32:56,160 Speaker 13: Oh, I couldn't kill this. Yes, I mean, I'm after tellent. 650 00:32:56,360 --> 00:32:58,280 Speaker 13: All I want is somebody who's good at the job 651 00:32:58,280 --> 00:33:01,760 Speaker 13: and it's cold, is exactly what exactly, So the confident 652 00:33:01,880 --> 00:33:04,160 Speaker 13: hope looked like. What doesn't that what they look like. 653 00:33:04,240 --> 00:33:05,520 Speaker 13: It's what they do at the end of the day. 654 00:33:05,560 --> 00:33:07,680 Speaker 13: But having said that, so we're going to talk to 655 00:33:07,800 --> 00:33:11,280 Speaker 13: Nicola Willis this morning about the jobless numbers. Hopefully they 656 00:33:11,400 --> 00:33:13,440 Speaker 13: peaked and five point one was it better number than 657 00:33:13,480 --> 00:33:16,560 Speaker 13: we expected, which is quite exciting. And Greg four ands 658 00:33:16,600 --> 00:33:18,640 Speaker 13: and Greg is going to give us his first time 659 00:33:18,760 --> 00:33:21,120 Speaker 13: leaving the company interview, which will be nice to catch up. 660 00:33:21,320 --> 00:33:25,000 Speaker 13: I will ask him why. Here's my vibe. It's been 661 00:33:25,080 --> 00:33:28,560 Speaker 13: too hard. It's all been a bit crap. Walmart was 662 00:33:28,640 --> 00:33:32,080 Speaker 13: more fun and more money and more money, and this 663 00:33:32,320 --> 00:33:35,520 Speaker 13: lack of engine, lack of playing thing. I'm tired of 664 00:33:35,600 --> 00:33:38,320 Speaker 13: dealing with it. And if you whine one more time 665 00:33:38,360 --> 00:33:40,480 Speaker 13: about the price of tickets to Partmers the North, I'm 666 00:33:40,520 --> 00:33:40,960 Speaker 13: going to hitch you. 667 00:33:41,120 --> 00:33:44,320 Speaker 2: Although did you see that ComCom not study but the 668 00:33:44,360 --> 00:33:46,960 Speaker 2: fact that they don't want to do a study because actually. 669 00:33:46,840 --> 00:33:49,960 Speaker 13: Exactly, there's nothing to see here exactly, and that's rare 670 00:33:49,960 --> 00:33:52,320 Speaker 13: from the Concorin anyway, Greek Forum with us Excell Mike. 671 00:33:52,400 --> 00:33:54,360 Speaker 2: Have a great day everyone, I will see you tomorrow. 672 00:33:54,400 --> 00:33:55,440 Speaker 2: And News Talk they'd be. 673 00:34:12,760 --> 00:34:15,719 Speaker 1: For more from Early Edition with Ryan Bridge. Listen live 674 00:34:15,880 --> 00:34:18,840 Speaker 1: to News Talks it be from five am weekdays, or 675 00:34:18,960 --> 00:34:21,840 Speaker 1: follow the podcast on iHeartRadio h