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25th
FEB
Tainui still in division over $70m
Posted by karere under Maori News
Tainui Group Holdings won’t be receiving $70 million worth of new government cash from Waikato-Tainui despite calls from ex-Fonterra leader Sir Henry van der Heyden for that to happen.
Sir Henry is the chairman of Waikato-Tainui’s commercial arm and this month called for the millions received at the end of last year, related to the tribe’s 1995 treaty settlement and known as a relativity payment, to go to TGH for management.
TGH already manages assets worth $800 million.
But Tom Roa, chairman of the tribe’s executive board, Te Arataura, who had advocated for the cash to be used to invest in entrepreneurship among grassroots people, told the Herald he hadn’t changed his position about the money’s use.
Consultation was underway with tribal members, Mr Roa said.
“The relativity funding has gone into the bank account. It’s earning interest and that’s where it will stay until we’ve got an informed decision.”
What made Sir Henry’s call extraordinary was that it was rare for the previous TGH board chairman, John Spencer, to express an opinion on what is essentially a political decision in the first instance - especially after a political leader, in this case Mr Roa, had publicly set out a differing course.
Mr Roa said despite the two differing viewpoints, he welcomed Sir Henry’s idea but said it needed to be explained in more detail to tribal members, and he should be given the opportunity. “It’s clear at this present time that the first settlement in 1995 set TGH up. This is a second opportunity for the tribe.”
By Yvonne Tahana Email
Read all the news [here]
Good to see Tainui finally realising it must invest in grass roots development of high tech or innovation to break into the massive global market and to break the famous in NZ limiting mindset. One only has to look at the size of Apple, Microsoft, etc to get some idea of one one good technology can bring in the form of economic rewards. They could start with looking into the new Trimophic Disc Craft. This a radical new wingless flight craft developed here by a Maori. the inventor won’t approach Maori and crafty know it all Pakeha here due to several bad experiences with them in the past so prefers to head offshore. The development teams is deciding whether to stay or go to another country to further its development. Similar situation to martin Jets Pack but major difference is that this craft doesn’t fall out of the sky, no matter what. Thus its super-safe and a radical advance on current flight.The point I am making here is that …IF… Maori are truly serious about surviving rapid climate change for the long term which they should if the have any Aroha in them for their Moko’s and themselves too they will need vertical take off fast super safe anti crash air travel. The disasters about to level this planet are no joke and it will be hard and rough just to stay alive. Its just a a thought to consider as I well know by a lifetime of experience that Maori are usually anathema about making such progress they usually leaving it for the Pakeha and the trailing behind later. Rather odd thing to do when their ancestors pioneer transoceanic travel across the planet using giant catamarans in days of yore. Maybe they just got lazy, fat and complacent to face the facts of their dire position going into this new century. The motto here Maori if you have the ears to listen and the Aroha to understand is simple……Fly of Die.