The Mike Hosking Breakfast

On the Mike Hosking Breakfast Full Show Podcast for Thursday 27th of March, the banks are continuing to call for capital rules to be eased. But Massey University banking expert Claire Matthews is warning against it.  We get reactions to the new sentencing and drug driving testing laws coming into place.  Fonterra's CEO Miles Hurrell defends the proposal to sell of the company's consumer brands, like Anchor.  And the iconic Bob Geldof is the country for his stage show - so he joined Mike in studio for a chat.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fonterra’s elaborating on the details of their consumer brand sell-off.  The conundrum comes off the back of a monster half year result in which operating profit rose to 16%.  The planned divestment could see brands like Anchor and Mainland sold off.  CEO Miles Hurrell told Mike Hosking the key for any good business is knowing what you’re good at.   He says that over the years, the returns as an ingredients business have been stellar, but farmers aren’t getting the desired return on capital from the consumer side of things.  He says they believe they can get higher returns from investing that cash back into ingredients and food service.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Liam Lawson's future at Red Bull in Formula 1 remains gridlocked by speculation.  Reports suggest Racing Bulls driver Yuki Tsunoda will swap with Lawson for the Japanese Grand Prix next weekend, joining defending world champion teammate Max Verstappen.  Lawson's opportunities have been slim on unfamiliar tracks in a new car thus far, one of which was in the wet at Melbourne.  Formula 1 Journalist Chris Medland told Mike Hosking Red Bull has likely decided to make a change before the situation becomes irreparable and damages Lawson’s confidence too much.  From his point of view, they should have had the more experienced Tsunoda in instead, as he has nothing left to prove and whereas Lawson still has more learning to do.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's confidence roadside drug testing won't pick up prescription drugs.  Legislation giving police powers to do random saliva tests has passed its third and final reading in Parliament.  Police should be ready to use tests late this year.  Transport Minister Chris Bishop told Mike Hosking there will be two tests at the roadside.  He says it will be testing for cocaine, ecstasy, and marijuana.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Law Association is calling the recent passing of sentencing law changes a great example of democracy in action. The new law caps the sentence discounts judges can apply at 40% and adds new aggravating factors. Law Association Vice President Julie-Anne Kincade told Mike Hosking issues raised —such as the wish to see the sentencing reduction proposals softened— were taken on board. She says many select committee submitters shared similar concerns, and these seem to have been reflected. But Kincade says they're concerned about how the new laws will increase the populations of our already full prisons. LISTEN ABOVE See omnystudio.com/listener for privacy information.

A careful balancing act on how far banks should have to go to prepare for a rainy day.  Parliament's Finance Select Committee is currently seeking feedback on whether the Reserve Bank's capital requirements for banks should be changed.  The current rules are stringent and costly.  Massey University banking expert Claire Matthews told Mike Hosking we also can't go too far the other way.  She says if a bank fails, and there isn't enough money to pay people out, that will have a huge impact on the whole economy.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Lindsay McKenzie is still busy at work.  You will have forgotten the name because like so much news these days, it's hot stuff until it isn't.  Lindsay is the bloke that was appointed to watch over Wellington Council because of their dysfunction.  He has just written his second report. His first report seemed sort of sympathetic. Yes, they were a mess, but they were decent people sort of thing.  His second report seems to suggest not a lot is getting better. Some councillors have continued their criticism of each other and they're suspicion of information being leaked, writes Lindsay.  He also says the community is at its wits end over infrastructure although most of that comes from the same complainers.  He has also noted since his first report there have been several incidences that have given rise to concerns about the organisations ability to function.  Now, the question I have is, given the place is still to be found wanting, what next? You might remember Minister Simeon Brown put this bloke in as the least intrusive option, as opposed to a full commissioner or set of commissioners.  So far, so bad. So, is the government going to do anything? Or is poor old Lindsay set to write reports for the rest of his life?  In the report though is a nugget of gold. He recommends a review of the Local Government Act in relation to the qualification for and capability to hold office.  Yes, yes, and yes please.  Let's actually treat these jobs as jobs as opposed to dabbles, fascinations or fiefdoms. Let's actually require people to have some skills.  The idea you can just put your name forward for a job of such responsibility is absurd beyond belief and when any idiot can have a crack, guess what you get? Wellington is what you get.  Let's get a bit professional, let's put a bit of heft behind the job, and let's get some talent in the room.  I have no doubt this is going nowhere, because why would you fix anything when you can ignore it? But if that was run with, Lindsay would deserve, if not a knighthood, certainly keys to a vastly better run city. See omnystudio.com/listener for privacy information.

Labour's admitted the gang patch ban hasn't turned out as badly as they feared.  The Deputy Police Commissioner has confirmed staff are pleasantly surprised at the ban's effectiveness, saying it's brought more control to the situation.   It comes as Gisborne police are given more powers to deal with gangs.   Labour police spokesperson Ginny Andersen told Mike Hosking the fact it's gone well is a good thing.  She says given fears haven't eventuated of frontline officers getting hurt, she can recognise it's gone better than everyone thought it would.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday the 26th of March, the national stadium debate is continuing to drag on - and Rugby World Cup CEO Martin Snedden is calling for some action.  The government has written to Labour and the Greens asking for cross party support for its RMA reform - Mike asks Chris Hipkins whether Labour will get on board.  And Mike loves the idea of people needing a qualification to be able to become a local councillor or Mayor.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Employment confidence has bottomed out.  The Westpac-McDermott Miller index shows it's slipped to a level not seen since the post-2020 Covid lockdowns.  It's fallen in four of 11 regions —including Auckland— which dominated the national average.  EMA Head of Advocacy Alan McDonald told Mike Hosking business is still doing it hard, directly impacting the ability to hire and expand.  He says more than 60% of firms let staff go within the last year.  LISTEN ABOVE See omnystudio.com/listener for privacy information.