DVML: Two directors gone before release of stadium review

Last week at DCC I was asked if I knew Rolfe and Brown had left DVML, I did not although I was aware of the advertising for new directors (see previous posts).
In the ODT story we’re privileged to see the misguided views of Ms Rolfe in lights (what an asset… not meaning the lights!) —hard being the token woman, brain cells would help. And Mr Brown why he can easily think of better boards to decorate, it’s very wise that he moves on.
Public release of the council’s stadium review is now past due. Of course, Dunedin City Holdings Ltd chairman Graham Crombie has diligently attempted to water down the report. A pale shadow by the time it hits the council table then goes public. The unpalatables. And Mr Hansen?

### ODT Online Wed, 12 Nov 2014
Confirmation DVML losing two directors
By Chris Morris
An outgoing director responsible for Dunedin’s Forsyth Barr Stadium says she is leaving with high hopes for the future of the venue.
Jen Rolfe, a Dunedin Venues Management Ltd board member, is one of two directors confirmed to have resigned, along with Peter Brown. The pair’s exit, to be signed off at a DVML board meeting next week, were confirmed yesterday in response to questions from the Otago Daily Times.
Read more

Related Posts and Comments:
8.10.14 Stadium: Liability Cull warns ratepayers could pay more to DVML
6.10.14 Stadium misses —like it would ever happen, Terry
4.10.14 DCHL & DVML: Call for directors
30.9.14 DCHL financial result
25.9.14 DVML on Otago Rugby and Rod
13.9.14 DVML and ORFU refuse to disclose 2012 Otago Rugby deal
10.9.14 Stadium: Behaviours at Suite 29 (intrepid tales)
18.6.14 Crowe Horwath Report (May 2014) – Review of DVML Expenses

For more information, enter the terms *dvml*, *terry davies*, *dchl*, *review* or *stadium* in the search box at right.

Posted by Elizabeth Kerr

7 Comments

Filed under Business, DCC, DCHL, DCTL, Democracy, DVL, DVML, Economics, Events, Highlanders, Hot air, Media, Name, New Zealand, NZRU, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums

7 responses to “DVML: Two directors gone before release of stadium review

  1. Kevin

    Looks like these two directors are leaving before being pushed. Remember Mike Coburn and Stuart McLauchlan resigned days before the DCHL board were sacked.

  2. Elizabeth

    Excellent, no BS comment at ODT Online:

    Terr Davies
    Submitted by JimmyJones on Thu, 13/11/2014 – 6:25pm.
    Jennifer Rolfe, the departing director of DVL and DVML, tells us that the stadium is heading in the right direction, helped by its ”firecracker” new chief executive, Terry Davies. Ms Rolfe seems to not understand the problem or else she considers that PR spin is more important than honesty. What is needed to fix this stadium is a lot more than a firecracker – about 2000kg of demolition explosives and a team of bulldozers would be a good start.
    As I said below, the DCC’s stadium consumed over $22 million of ratepayers money in the last financial year. These losses are not just for the last financial year, but every year.
    Read more

    ****

    Another comment on the same thread at ODT Online, reproduced here in the public interest:

    Stadium losses
    Submitted by JimmyJones on Wed, 12/11/2014 – 7:27pm.
    Many citizens reading this will think that the stadium only lost a modest $58,000 in the last financial year. We are told that things are “heading in the right direction” etc. The problem with all this positivity is that it is delusional.
    The first delusion is the impression that DVML is the whole stadium. DVML manages the stadium and another company, DVL, owns the stadium. The DCC correctly assumes that if it doesn’t mention DVL in its press releases, then it won’t be reported and the citizens won’t know that DVL has just made another enormous loss. DVL and DVML together, contribute to the stadium annual losses as well as various other costs and subsidies paid for by Dunedin’s renters and ratepayers.
    The second thing that the DCC doesn’t want to be mentioned is that a number of large subsidies are paid by the DCC to moderate the ongoing losses of DVL and DVML. In the case of DVML, renters and ratepayers are liable for the $58,000 loss as well as subsidies of $1.229 million and share purchases of $6.377 million. That adds up to $7.664 million. But there’s more.
    It gets worse: DVL is also paid massive subsidies – DVL cost the City $7.754 million in subvention subsidies as well as the loss of $4.539 million. With share purchases, that adds up to $14.292 million. Adding the two companies together, but not counting a bunch of other subsidies, costs and taxes, the cost to the City for the year, of running this stadium is $22.0 million.
    The first step to fixing this $22.0 million annual cost is to stop pretending that it is only a small problem (a $58,000 Loss), and stop pretending that things are “heading in the right direction”.
    ODT Link

    • The ODT mangled the title of the top comment – it should read Terry Davies: The Firecracker. Also the phrase astonishing stupidity was removed for no good reason. Mostly they have been good recently, however.
      The original paragraph reads: “We should never forget those among us that decided to build this financial black-hole, but we also need to be aware of the astonishing stupidity of continuing to pay for these massive annual losses. Even after the demolition, we will be stuck with some of these on-going losses because the debt will remain, but big savings will be gained.”

  3. Elizabeth

    Thanks JimmyJones, I did wonder about the “Terr” but put it down to your possible exasperation.

  4. JimmyJones

    Rob Hamlin has an opinion piece at the ODT (your say) here » http://www.odt.co.nz/opinion/your-say/323384/learning-stadium-related-mistakes
    He makes his points clearly. It is very disappointing and frightening to see that the DCC has learned nothing useful from their stadium mistake. The only things they have learned are some devious ways to hide the very serious consequences of their big mistake.
    It looks to me like Sue Bidrose has had for some time a stadium marketing plan. I think her restructuring report will be the next phase of the marketing plan. In other words, some new tricks to make it look like the problem is fixed.
    The big danger with any restructuring is that we could lose the only source of fairly credible financial information which comes from the audited annual reports. Any financial information from the DCC should be disregarded unless it has been audited. And even the audited reports often contain errors.

  5. I’d like to see Rob Hamlin’s ODT opinion piece put up here for all to contemplate. Who knows, Sue Bidrose might even become aware of it. If so, she would have to take serious cognizance of the implications.

    {Hopefully Rob will oblige. We can do a new post to help it along if he emails Elizabeth. -Eds}

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