Tag Archives: Citizen’s Treasure

QB 2014 gongs of ill-repute #Hudson COI = MNZM

(via ODT) Mon, 2 Jun 2014
Southern Queen’s Birthday Awards recipients

paul-hudson copyPaul Hudson
Dunedin
Services to business and the community

Paul Hudson (65), of Port Chalmers, said that he was “humbled and honoured” for the recognition of his involved with commerce, local government and the community in Dunedin for 50 years.
He worked for Cadbury Fry Hudson between 1973 and 1996 and, as managing director, led Cadbury’s transition to conducting its worldwide business from centralised locations.
He held elected positions on Port Chalmers and Dunedin City Councils between 1980 and 2013, including deputy mayor on both councils.
He was chairman of Dunedin City Holdings, Citibus-Dunedin Transport Ltd and Citiworks, and a board member of City Forests, Aurora Energy and Delta Utility Services.
He was chairman of Dunedin City Holdings for 18 years, when shareholder funds increased from $100,000 to more than $150 million and distributions to Dunedin City Council totalled more than $280 million.
He was council appointee for the Otago Theatre Trust, Dunedin Public Art Gallery Society and its acquisitions committee and the Dunedin Town Hall Organ Trust.
He was appointed treasurer to the Otago branch of the Save the Children Fund 50 years ago. “This was the beginning of my lifelong interest in serving the community.”
The service to the community included work for Port Chalmers Kindergarten, the Aramoana Trust, Regent Theatre, the Otago Arts Society, the Dunedin Council of Social Services and the Dunedin Community House Trust. “My involvement with the establishment of Community House, my early years in Save the Children Fund and various roles and involvement in local government have been very satisfying,” he said.

[ends]

DECLARATION
“I, Paul Richard Hudson, do solemnly declare I did not squander ratepayers’ money for the chance to receive specific mention in the freshly minted report of the Office of the Auditor-General’s investigation into Delta (2014). Nor at any time did I place or declare my Conflicts of Interest ahead of my ability to be judge and jury at DCHL and other council-owned companies, so to infuriate Warren Larsen (Report, 2012). I did not personally receive ANYTHING by way of payment for termination of lease of restaurant space in the Municipal Chambers. And, I am not at all obsequious, a fence-sitter — or, make that slimy.” … “Honest.”

Related Posts and Comments:
8.11.13 DCHL, long wait for review (Larsen sighs)
23.8.13 New DCHL Chair announced: Graham Crombie
24.7.13 DCC / DCHL shake up !!!
12.7.13 Hudson, DCC (ex DCHL)
7.7.13 DCHL changes lack transparency —where’s the report, Shale?
30.10.12 DCHL ‘run by a bunch of fools’ -agreed
26.10.12 DCHL borrowed $23 million to bail DCC
26.10.12 DCHL: New directors for Aurora, Delta, City Forests
17.10.12 DCC on DCHL, subsidiaries and DCTL
12.10.12 DCHL, subsidiaries and DCTL
30.8.12 Dunedin City Council seen by Fairfax Business Bureau deputy editor Tim Hunter
7.8.12 DCC, DCHL, debt, democracy (and professional rugby)
20.12.11 Delta and the GOBs #DCHL #DCC
28.10.11 DVML, DVL and DCHL annual reports
16.9.11 DCHL and subsidiaries: shuffling, no real clean out?
13.8.11 Ridding DCHL of conflicts of interest, Otago business monopoly ‘by director’, and other ghouls
9.2.11 DCC and DCHL, was there ever any doubt?
7.10.10 The time has come for biffing out
7.7.10 DCC, DCHL, CST, DVML, DVL?
22.10.09 DCHL chief executive replies to critics

Posted by Elizabeth Kerr

33 Comments

Filed under Business, DCC, DCHL, DCTL, Delta, DVL, DVML, Economics, Hot air, Media, Name, New Zealand, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums, What stadium

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

12 Comments

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