Karma’s a bitch ii


In their campaign to strip assets from ratepayers and residents  NCC sold CBD carparks.

Bye bye income, of course, but the spin was that they formed part of the ‘infrastructure backlog’ *snort*.

Reminds me of the time I was listing my assets to a finance company and the list was pathetically short so I included the children. The banker person said, ‘No, they’re liabilities.’

So a rumoured ten mill was paid for the car parks and now street parking is free.

Karma all round.


11pm:A friend just told me it’s not clear what I meant here.

i) Council sold the car parks when they weren’t [morally] theirs to sell: they belonged to Newcastle people.

ii) the excuse they used was saying the car parks needed work that council couldn’t afford to do.

iii) believe that and you need some help.

iv) a developer bought them for, according to the Herald, a rumoured ten million dollars

v) so that rich person must be expecting a considerable return. (Sounds to me like they may have been worth keeping.)

vi) That return was based partly on a briefing on parking policy which at the time was to charge the punters (a stupid amount of) money to park in the street

vii) so the buyer expected people to park, I guess especially all day, in the car parksthus making him money.

viii) Then within months the new council made parking on the street free.

ix) Bye bye cash cow = car parks for the investor

x) hello threatened law suit  from the investor.

xi) Lawyers do OK as usual.

xii) Here’s hoping a few council officers have to explain themselves and get a bit of flack for selling off what they held in trust for us and for disappointing the developer.

xiii) all legal, some would even say fiscally responsible; others would say with friends like these looking after our assets, who needs enemies?



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