The latest from Nikki Mandow

News, opinion and analysis by Nikki Mandow

MediaWorks breakeven stymied by radio
Nikki Mandow | Wed, 22 May 2019

By Nikki Mandow May 22 (BusinessDesk) - It’s tough being a media company. And nowhere is this more apparent than for MediaWorks Investments, home of the Three TV channel, the Edge and More radio stations, among others. The company today reported a net loss for the year ende...

Kiwibank to ditch cheques in February 2020
Nikki Mandow | Thu, 16 May 2019

By Nikki Mandow May 16 (BusinessDesk) - When Kiwibank CEO Steve Jurkovich stands up to address the Grey Power annual meeting next week, he might want to wear his bulletproof vest. That’s the advice from national president Mac Welch, reacting to today’s announcement from Kiw...

Govt delays upgrade of weak and unclear whistleblower law
Nikki Mandow | Wed, 08 May 2019

By Nikki Mandow May 9 (BusinessDesk) - Changes to whistleblower legislation to make it easier for employees to report everything from bullying to fraud have been delayed. This also pushes back moves to potentially bring the private sector into a critical part of the legislatio...

UPDATE: Huawei calls for talks with GCSB minister on 5G
Nikki Mandow | Mon, 06 May 2019

(Adds GCSB comment from 20th paragraph) By Nikki Mandow May 6 (BusinessDesk) - Huawei has vigorously defended its right to be part of New Zealand’s 5G mobile network build at the China Business Summit in Auckland this morning. And it has called on GCSB Minister Andrew Littl...

Air NZ's long, hard $100M flightpath to China
Nikki Mandow | Mon, 06 May 2019

By Nikki Mandow May 6 (BusinessDesk) - Air New Zealand has lost $100 million in the 13 years it has been flying to China, chief executive Christopher Luxon says. The cumulative loss in that time is largely because it is competing in the Chinese market with government-affili...

Board committees - how many is too many?
Nikki Mandow | Tue, 30 Apr 2019

By Nikki Mandow May 1 (BusinessDesk) - NZX companies have more separate board committees than they used to and are increasingly paying directors extra fees for serving on them, according to a recent report. But companies need to make sure board committees aren’t making dire...

Mainzeal liquidators seek millions in interest payments
Nikki Mandow | Wed, 24 Apr 2019

By Nikki Mandow April 23 (BusinessDesk) - Millions of dollars are at stake as Mainzeal litigants head back to court on Wednesday, May 8, for a decision on costs and interest payments. Creditors of the failed construction company were owed $110 million when it collapsed in e...

Eat My Lunch plans $2m equity crownfunding campaign
Nikki Mandow | Wed, 17 Apr 2019

By Nikki Mandow April 18 (BusinessDesk) - Eat My Lunch, the “buy one, gift one” social enterprise supplying lunches for school kids, is looking to raise $2 million through crowdfunding platform PledgeMe. The company wants to use the money to open an Auckland store, trial a...

Challenging Milton Friedman
Nikki Mandow | Wed, 17 Apr 2019

By Nikki Mandow April 17 (BusinessDesk) - It’s been almost 50 years since American economist Milton Friedman wrote his groundbreaking essay in the New York Times arguing that the social responsibility of business is to increase its profits. Directors should focus solely on...

Social enterprises: Between a rock and a hard place
Nikki Mandow | Tue, 16 Apr 2019

By Nikki Mandow April 17 (BusinessDesk) - New Zealand’s lack of a suitable framework to support social enterprises - companies that create impact as well as profit - is stymying a burgeoning sector. That’s the conclusion of a new report supported by the Law Foundation and c...

Callaghan launches Israeli innovation ecosystem database
Nikki Mandow | Tue, 16 Apr 2019

By Nikki Mandow April 17 (BusinessDesk) - Callaghan Innovation has adopted an Israeli database model for its newly-launched Scale-Up NZ information aggregation and collaboration system. Callaghan, a government agency, will pay a $50,000 annual licence fee to Israeli company...

NZers ambivalent on sustainable homes, survey finds
Nikki Mandow | Thu, 11 Apr 2019

By Nikki Mandow April 12 (BusinessDesk) -  New Zealanders are largely unaware that having an energy efficient, sustainable home could have a significant impact on our emissions targets. They just think green equals too expensive. That’s one finding from a survey commissione...

Government told to 'walk the talk' on green building standards
Nikki Mandow | Thu, 11 Apr 2019

By Nikki Mandow April 11 (BusinessDesk) - Climate Change Minister and Green Party co-leader James Shaw faced criticism today for the government’s failure to 'walk the talk' on green building standards. Delegates and even fellow presenters at the Green property Summit in Auc...

To Rod Duke: Give us back our beach
Nikki Mandow | Fri, 05 Apr 2019

By Nikki Mandow April 4 (BusinessDesk) - Neighbours of Briscoes multi-millionaire Rod Duke say he should be forced to pull down his reconstructed boat shed following a High Court decision quashing all resource consents to turn it into a helicopter pad. In a letter to Auckla...

Hacked Cryptopia investors in the dark over "rebate"
Nikki Mandow | Wed, 03 Apr 2019

By Nikki Mandow April 3 (BusinessDesk) - Hacked Christchurch-based cryptocurrency exchange Cryptopia will give a “rebate” to investors who lost funds. But details are sketchy. And a decision to refund people who lost currency using the NZ dollar price on the day of the hack, J...

Bankers beware: Fintechs aim at chunk of SME lending
Nikki Mandow | Tue, 02 Apr 2019

By Nikki Mandow April 2 (BusinessDesk) - It’s been a long time coming, but New Zealand SMEs looking for business loans are at last starting to see options that don’t involve filling out a 20-page bank form, waiting weeks and putting their home on the line. The buzzword is '...

CORRECT: Conservative and risk averse: NZ CEOs revealed
Nikki Mandow | Mon, 01 Apr 2019

(Fixes Isentia, Jack Ma typos in 8th, 12th and 18th paragraphs) By Nikki Mandow April 2 (BusinessDesk) - New Zealand’s business leaders are disrupted, not disruptors. They cultivate a conservative, risk-averse persona, which doesn’t necessarily fit well with today’s young c...

Former Mainzeal directors in final-hour appeal of judgment
Nikki Mandow | Tue, 26 Mar 2019

By Nikki Mandow March 26 (BusinessDesk) - Directors of collapsed construction company Mainzeal, including former Prime Minister Jenny Shipley, are appealing last month’s High Court judgment. The decision found them liable for up to $6 million each following $110 million of...

Richard Yan appeals $36 million Mainzeal liability
Nikki Mandow | Sun, 24 Mar 2019

By Nikki Mandow March 25 (BusinessDesk) - Richard Yan, director of failed construction company Mainzeal Group, has appealed the High Court judgment which found him liable to pay up to $36 million to creditors. Tomorrow is the deadline for any appeals in the case, following...

Rugby World Cup rural broadband: find a friend
Nikki Mandow | Thu, 07 Mar 2019

By Nikki Mandow March 7 (BusinessDesk) - Around 40,000 rural householders will need to leave the couch (nay, the house) to watch the full gamut of Rugby World Cup matches this year. That’s because their broadband won’t be good enough to stream the games. That was the messag...

Cryptopia site reopens; no news on investor losses
Nikki Mandow | Tue, 05 Mar 2019

By Nikki Mandow March 6 (BusinessDesk) - Christchurch-based cryptocurrency exchange Cryptopia has reopened, at least in a limited way. But investors remain in the dark about whether they will get any of their stolen coins back.  Cryptocurrency experts have estimated that...

Shareclarity bringing gaming geekery to market analysis
Nikki Mandow | Tue, 05 Mar 2019

By Nikki Mandow March 5 (BusinessDesk) - Shareclarity managing director Daniel Kieser gets up at 3.47am. Not 3.45am, 4am, or even a more sleep-enhancing 6am. His alarm goes off at 3.47am. It may be a signal of workaholic tendencies. Or enthusiasm for what he does. Or may...

Mainzeal decision opens insurance payout can of worms
Nikki Mandow | Tue, 05 Mar 2019

By Nikki Mandow March 5 (BusinessDesk) - The Mainzeal court decision has opened a can of worms for Mainzeal directors and their insurers as they work out who gets up to $23 million of liability insurance payouts to cover $36 million of court-ordered payments. Last week Just...


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