Daily Archives: October 22, 2009

DCHL chief executive replies to critics

In his letter to the editor, Bevan Dodds explains that DCHL was established to allow Dunedin City Council-owned companies to operate commercially at arm’s length from the council while returning a dividend which the council can then use to offset rates. Although in conclusion he asks, “Why would you not smile at payments of $19.8m that help keep your rates down?”, this doesn’t begin to address – and doesn’t have to – the signalled rate increases ahead. Ahhh, the convenience of that arm’s length between truth or dare.

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[here abridged]

### ODT Tue, 20 Oct 2009 (page 8)
Letters to the editor
Inconvenient truth: DCHL did well
By Bevan Dodds
Chief Executive, Dunedin City Holdings Ltd

Several “Letters to the Editor” have claimed ‘spin’ or challenged the expenditure of ratepayers’ money on celebrating, via a half page advertisement in your newspaper, the 2008-09 financial results posted by the Dunedin City Holdings Ltd Group of companies.
The payments made by DCHL to the council of $19.8 million comprised $9.5 million dividends and $10.3 million of interest, reflecting the investment in DCHL made up of both loans and shares. The breakdown is carefully set out in the annual report.
After tax profit figures calculated under NZ accounting standards for a group such as DCHL will never match cash or “what is left over in the bank”. Note 34 to the DCHL accounts lists 20 reconciling items between the accounting profit and the cash generated by the group from its business activities.
The total of the profits of the subsidiaries plus the profit of the parent company will only in very rare situations match the consolidated profit of an accounting group. There is no magic here, or mysterious losses because if there was Audit New Zealand and indeed the ODT’s own business reporters would make this very clear, just the pure principles of consolidated accounting.
{continues}

The full letter is available in print and digital editions of the Otago Daily Times.

Posted by Elizabeth Kerr

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Filed under Business, DCC, DCHL, DCTL, Economics, Hot air, Media, Name, People, Politics, Project management, What stadium

Exhibition

Chris Reid

“The images are all to do with the construction of the stadium and are mostly shot from my elevated camera set-up at various places around the building site.”

Post by Elizabeth Kerr

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Filed under Architecture, Construction, Pics, Site, Stadiums

Dunedin’s ungreen side…

Stuff to ponder from one of Paul’s favourite places:

### The Vancouver Sun October 20, 2009 11:36 PM
Mayor releases plan to make Vancouver the world’s greenest city by 2020
By Gerry Bellett

Mayor Gregor Robertson announced an ambitious 10-year plan Tuesday to make Vancouver the world’s greenest city by 2020. Robertson presented the plan to Gaining Ground-Resilient Cities conference at the Vancouver Convention Centre.
Read more

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Meanwhile at Berlin…

### Talkitect.com Oct 19, 2009
Save Berlin
Save Berlin is a project aiming to catalogue and present ideas about the urban condition of Berlin. To combat unwanted and misguided change, this forum gives everyone a voice in the development of our beloved city.

What is your vision for Berlin?

Berlin is changing. The city’s leaders have plans for a sanitized Euro-capital. They’re replacing the city’s history and character with shopping malls and luxury condos. Their ideas for 21st Century Berlin landmarks: a fake Baroque palace and a copy of London’s giant Ferris wheel. Berlin is a city of daring artists and irreverent dreamers.

Save Berlin 09 (November 13-15, 2009) taps into Berliners’ enormous resource of imagination, asking for new visionary schemes for Berlin, to inspire debate and build a vision for the city’s future. Come join the conversation, and let’s show we can do better!
Read more

Post by Elizabeth Kerr

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Filed under Economics, Geography, Inspiration, Politics, Project management, Town planning