Maths over port shares option needs checking

The regional council’s document on the future of the port lists Option B — a public share offer — as its preferred option. Some maths.

■ There are 177.4 million shares held by the regional council’s subsidiary. 45 per cent of that is 79.83 million shares.

■ It is hoped to raise $181 million — 181 divided by 79.83 = $2.267 or $2.27 per share.

■ 45 per cent on the projected dividend in year 1 ($12m) is $5.4m divided by 79.83 million shares = 6.76 or 6.8 cents per share.

■ 6.8 divided by 2.27 gives a rate of return of 2.99 per cent. We should remember that this return — unlike a bank term deposit is not guaranteed.

I checked five bank websites before penning this letter. All of them had fixed term deposits from four months to whatever that all started with the figure 3 (ie 3 per cent) and these returns are guaranteed.

Conclusion: These shares are not guaranteed, the rate of return on investment depends on a number of variables and could easily fall short of the projections, and is less than a term deposit, which is bank guaranteed. I will not be buying.

Mark Brown-Thomas

Greenmeadows

Forgiving sinners

In reply to P. Hibberd, President Trump is one of many eminent people with moral lapses in their past. But the essence of Christianity is that God forgives the repentant sinner. King David was a murderer and an adulterer, but God forgave him and used him mightily as King of Israel.

Despite Democrats and the hate-Trump media digging up all the dirt they can find in his past, there has been no immorality by Donald Trump since entering the White House, unlike President Clinton’s ongoing moral lapses. President Trump is a Christian who’s well aware of the Ten Commandments and the way they’re flouted in the West, and he’s doing what he can to reverse this trend.

Thousands of unborn babies are murdered every day in the name of “women’s rights”. In fact, a new movie has just been released in the US entitled Gosnell: the Trial of America’s Biggest Serial Killer based on the actions of Philadelphia abortionist Dr Kermit Gosnell. This film is the shocking true story of the investigation and trial of Dr Gosnell, exposing his 30-year killing spree and the political and media establishment that tried to cover it up. Donald Trump campaigned to “drain the swamp” in Washington and “make America great again”. In spite of strong opposition, that’s what he’s doing. And, as a Christian myself, I have no qualms about supporting and praying for him in his efforts to return America to its Judeo-Christian roots.

Margaret Burgess

Hastings

Next turkey for job

So as we hear the wonderful news of the pending resignation of Simon Bridges one wonders who is going to be the next turkey to stand up for the job! Could it be one or both of the Topp Twins or even TV1’s Jack Tame who seems to know everything about everything.

Whoever it is, I am not confident they will be right for the job! The Beehive seems to be a storage facility for lost causes and non-achievers. I don’t think various governments’ policies of getting rid of skilled and talented people was really the right decision but perhaps we will be pleasantly surprised!

Roger Mitchell

Clive