Latest / Best of Business / Business Panel: Kaffee Eis owner Karl Tiefenbacher and Mills Albert founding director Dave Mills

Transcript

Business Panel: Kaffee Eis owner Karl Tiefenbacher and Mills Albert founding director Dave Mills · Best of Business

0:09
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Speaker 2: Let's get down. Let's get down.
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Speaker 3: You join us for our business panel. This week is
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Speaker 3: Dave Mills, founding director of Mills Albert Morning.
0:42
Speaker 2: Mister Mills, good morning. Look how you sir?
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Speaker 3: I'm really good. Now we've got to clear the air
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Speaker 3: because I know that you cop it a bit when
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Speaker 3: people walk on the streets, and when I cop it
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Speaker 3: a lot when I walk the streets. Say what relation
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Speaker 3: are you to Millsy? And I say, actually, no relation
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Speaker 3: at all. He just took he pinched my name. He said,
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Speaker 3: it's quite a good day until he pinched my name.
1:00
Speaker 3: But we have no relation apart from having and we
1:03
Speaker 3: will say that me and our family are tied up
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Speaker 3: with the Saints, and you are very kindly your family
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Speaker 3: are tied up with sponsoring the same So we'll get
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Speaker 3: that out in the air. It's not the reason you're here,
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Speaker 3: but we'll just let people name case. The text machine
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Speaker 3: goes crazy and people say, the only reason is here
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Speaker 3: is because he's a Saint sponsor. Very successful capity business.
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Speaker 3: Tell us tell our listeners a little bit about your business.
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Speaker 2: Well, we're a civil contracting business for first and Foremost,
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Speaker 2: but we also have a logging business that sort of
1:30
Speaker 2: we do both forestry extraction and roading. We have a
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Speaker 2: rock farm that does we bring rocks down from Openuche
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Speaker 2: for use in coastal and river protection and we've been
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Speaker 2: operating in the Company region for about twenty years. Formed
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Speaker 2: in twenty twenty but trading from twenty twenty two. I've
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Speaker 2: got a staff of about one hundred and ten full
1:51
Speaker 2: time people and predominantly we work through the wire rapper
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Speaker 2: Wellington Company Heder for Noua Womanui into Taranakie regions. So yeah,
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Speaker 2: that's about us, all right.
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Speaker 3: So that people can understand you don't actually build buildings,
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Speaker 3: you build the infrastructure that the buildings go on. Is
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Speaker 3: that correct? Does that be way of describing it?
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Speaker 2: That is one way vertical vertical vertical construction is for
2:13
Speaker 2: buildings and we're into horizontal so we do pipe infrastructure.
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Speaker 2: That's one of our major pillars, I suppose. So pulling
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Speaker 2: into stormwater services, sewer water, we do subdivisions, we do
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Speaker 2: all sorts of roading. Walk is one of our clients.
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Speaker 2: But yeah, generally we work a lot for the local councils.
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Speaker 3: Willing to water at one of your clients.
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Speaker 2: Not we've done a little bit for Wellington Water. Actually
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Speaker 2: we locked to do a little bit more. So hopefully
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Speaker 2: that it's on the cards coming up.
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Speaker 3: Hopefully they'll listen to the show and Carl Teffan Barker
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Speaker 3: who is Cafe Ice owner, but you'd be probably better
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Speaker 3: off known as a political I don't want to use
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Speaker 3: the word agitator because I would say that wouldn't describe
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Speaker 3: you well. But you're a political voice. Is that the
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Speaker 3: right way to describe it?
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Speaker 4: I think maybe at the moment, Nick, but I'd still
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Speaker 4: rather just be known as Cafe Ice really. I mean
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Speaker 4: the political stuff is just based around the fact that
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Speaker 4: you know, I'm just wanting Wellington to be a bit
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Speaker 4: better than what on the path that's on at the moment.
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Speaker 3: To be fair, are you prepared to speak up? Which
3:14
Speaker 3: a lot of us as business people sit there and
3:17
Speaker 3: moan and groan around our mates, but we don't actually
3:19
Speaker 3: put our head up and say hey.
3:20
Speaker 2: This needs to be done. Yeah.
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Speaker 4: I think that's exactly the point. I think someone's got
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Speaker 4: a stand up. And while i'd rather it wasn't me,
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Speaker 4: willing to have it be me, because as I said,
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Speaker 4: you know, I think there's some things that need to
3:32
Speaker 4: be brought to people's attention. And I think, you know,
3:35
Speaker 4: I've got a great city. We're just got to make
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Speaker 4: sure we're still on the right path.
3:38
Speaker 3: Is it a great city? Would you to call it
3:39
Speaker 3: a great city now? If someone came in and I'm
3:42
Speaker 3: actually going to ring Kerry Wiham that did the show
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Speaker 3: for us last week after the show today, because all
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Speaker 3: weeks she was saying she was coming to Wellington for
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Speaker 3: the weekend and I'd be really interested to see what,
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Speaker 3: as an ex Walingtonian, what she thought of the city
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Speaker 3: when she came in.
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Speaker 2: Yeah.
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Speaker 4: I think that's tough on in't it, Because I mean,
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Speaker 4: it is a great city. But is it a great
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Speaker 4: city right now? It's certainly not the same city it
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Speaker 4: was maybe ten fifteen years ago. I think ten fifteen
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Speaker 4: years ago, you'd be really proud to call yourself WELLINGTONI
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Speaker 4: and everyone will go, oh, I love that city. I
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Speaker 4: think now that has probably diminished. And I think that's
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Speaker 4: why I'm standing for counsel and doing these sort of
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Speaker 4: things is simply because the path we're on has put
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Speaker 4: us in a place where we're not as good as
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Speaker 4: what we were ten fifteen years ago, and unfortunately, if
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Speaker 4: we don't change, that will be even worse than ten
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Speaker 4: fifteen years from now as well.
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Speaker 3: Dave, do you think that we are a great city?
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Speaker 3: I mean, I know you live in the capital, you
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Speaker 3: live out that way, but you spend a lot of time,
4:32
Speaker 3: especially during the rugby season and the basketball season, being
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Speaker 3: in Warrington. So do you think we're still a great city.
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Speaker 2: I think we are a great city. There's some great
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Speaker 2: people here. It's got good bones, that's got a fantastic
4:43
Speaker 2: the outlook when you're walking around the waterfront and what
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Speaker 2: have you. There's some beautiful places to see. But there
4:49
Speaker 2: are some fundamental issues, I suppose, around the vibrancy and
4:55
Speaker 2: the viability to be in business in Wellington. So there
4:59
Speaker 2: are some work on there.
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Speaker 3: Are you hearing that. Are you hearing from your clients
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Speaker 3: that it's getting tough to do business in Washington?
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Speaker 2: I believe the cost of everything's getting tough to operate
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Speaker 2: everywhere actually to be fair at the moment, but Wellington
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Speaker 2: is a tough place to operate.
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Speaker 3: Yes, what about Capiti, I mean our listenership is obviously Capiti,
5:17
Speaker 3: I mean house Capiti, I.
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Speaker 2: Mean Company is it's another great place to live. To
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Speaker 2: be here and to operate we find there is actually
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Speaker 2: there's actually a lot of people moving from the Wellington
5:27
Speaker 2: the area to Company and the access through turns faster
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Speaker 2: and Gully is actually providing that pathway which is probably
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Speaker 2: affecting Wellington a little bit as well. For Company, we've
5:36
Speaker 2: become a lot more it's a lot more busy and vibrant.
5:40
Speaker 2: But to operate there we find it really it's actually
5:43
Speaker 2: a good place to operate. There's good access to both
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Speaker 2: the Wellington and obviously North and so, and there's a
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Speaker 2: lot of perspective work planned for Company, which is a
5:53
Speaker 2: good thing for an infrastructure installation company.
5:56
Speaker 3: So yeah, I haven't been invited up yet. Everyone else
5:59
Speaker 3: seems to be invited up there. Piety and Coops and
6:01
Speaker 3: everyone around the place has been invited up, but no
6:04
Speaker 3: one remembers to invite me up. So I have to
6:05
Speaker 3: come up and see you guys. Right, let's talk about
6:07
Speaker 3: business compfidence. Let's let's kick it off for something rare,
6:11
Speaker 3: some really good news. The latest an Z business confidence
6:14
Speaker 3: survey had a shocking result. Business confidence has jumped to
6:18
Speaker 3: its almost most confident in a decade, which surprised a
6:22
Speaker 3: lot of people. Carl, why such a jump and what
6:25
Speaker 3: what what do we make of it?
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Speaker 4: And what's it got to do with the ocr Really well,
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Speaker 4: I think for the last couple of years, you know,
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Speaker 4: businesses have been under a lot of pressure and there
6:32
Speaker 4: hasn't been a lot of positivity that you could see
6:35
Speaker 4: in the in the short term. I guess with the
6:37
Speaker 4: movement of the ocr it's an indication that we've got
6:40
Speaker 4: a pass that's you know, obviously going to continue on
6:42
Speaker 4: down and it's going to give people more money in
6:44
Speaker 4: their bad.
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Speaker 3: Do you know that it's going to carry on going down?
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Speaker 3: I mean, you come from a finance background, so you
6:48
Speaker 3: know this is your this is your baby. How how
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Speaker 3: do we have the confidence that is going to.
6:53
Speaker 2: Keep going down?
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Speaker 4: Unfortunately? I think it's catch twenty two. I think the
6:56
Speaker 4: reason it's going to keep on coming down is because
6:57
Speaker 4: their economy is still very sluggish. You know there, you know,
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Speaker 4: there's still you know, people don't have a lot of
7:03
Speaker 4: money in their back pocket to basically keep the money stimulator.
7:06
Speaker 4: I mean, obviously both of us come from a hospow background,
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Speaker 4: and we've known since COVID rarely everything's been a bit tough,
7:13
Speaker 4: and we haven't yet seen that turn around massively. So
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Speaker 4: I think the reality is that the reserve banks now
7:19
Speaker 4: starting to appreciate the fact that inflation has slowed enough
7:22
Speaker 4: to be able to start that down with spiral on
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Speaker 4: the insta rates. I think realistically, to get the stimulation
7:28
Speaker 4: we need to have a really really positive look forward.
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Speaker 4: That's gonna have to carry on down quite markedly, and
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Speaker 4: that's I mean, that's what all the banks are predicting
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Speaker 4: as well. So I think it will be fair to
7:36
Speaker 4: say there's no doubt instrates are going to come down.
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Speaker 4: They're going to have to, and I think that will
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Speaker 4: undoubtedly give us a bit more positive to be going forward.
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Speaker 3: David, Now I know you a little bit, and I
7:46
Speaker 3: know that you're one of the most positive people that
7:47
Speaker 3: I've ever met, so this would not come as a
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Speaker 3: surprise to you that the A and Z'd think we're
7:51
Speaker 3: going to get better.
7:53
Speaker 2: That's for sure. The indications are that the interest rates
7:57
Speaker 2: are going to continue to go down. Albeit what sort
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Speaker 2: of rate, I'm not too sure, but the indicators are
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Speaker 2: there for that. What we've got to do Unfortunately, a
8:06
Speaker 2: part of it with the sluggishness of the economy. Part
8:08
Speaker 2: of it's about the rise of an unemployment because that's
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Speaker 2: one of the drivers that brought the interest rates down
8:14
Speaker 2: to the whole the whole slowing of the economy. And
8:19
Speaker 2: so by the same token, we've actually looked to see
8:21
Speaker 2: if we can actually start relocating those people into other
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Speaker 2: employment and stop them in the this migration either out
8:28
Speaker 2: of the region around the country, which is even worse,
8:31
Speaker 2: but in the in the sense of a business and
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Speaker 2: it's confidence low rates is always going to provide that
8:38
Speaker 2: sort of that sort of stability. But we've all sort
8:44
Speaker 2: of we've got some tough times ahead of us.
8:45
Speaker 3: Yet you still think we've got I think we're bottomed
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Speaker 3: out potentially.
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Speaker 2: Yes, but this was still a club. We've still going
8:52
Speaker 2: to actually generate the revenue to keep climbing out. And
8:54
Speaker 2: it's the thing. So if you have a look at
8:56
Speaker 2: the amount of properties, the advertising that's going on for
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Speaker 2: properties and builds, it's probably at a real high at
9:01
Speaker 2: the moment, because this building isn't happening just yet. It's
9:05
Speaker 2: still not really happening. So it's it's starting to starting
9:09
Speaker 2: to build. But as soon as there's a bit of
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Speaker 2: a confidence that the interest rates going to stay down
9:15
Speaker 2: there and the residential building gets going, I think then
9:19
Speaker 2: we're really looking on to start of that growth again.
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Speaker 3: That's the most positive guy in the world talking like
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Speaker 3: we've still got some more hard times to go, Carl.
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Speaker 3: I I don't need this. I was expecting that to
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Speaker 3: be Oh, no, we're done, now we're away.
9:30
Speaker 2: Yeah, I think Dave's exactly right.
9:32
Speaker 4: I mean, the reality is I was up in Auckland
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Speaker 4: just last week and one of my good friends up
9:36
Speaker 4: there as an architect, and at the moment they have
9:38
Speaker 4: no work. So I mean, you've a look at that pipeline.
9:40
Speaker 4: It takes a while for things to rebuild once that
9:43
Speaker 4: positive he starts coming in. So we've had all the
9:45
Speaker 4: negativity of their rising interest rates preple under pressure. So
9:49
Speaker 4: as we as we get to a point where by
9:50
Speaker 4: instrates are looking to come down, it takes a while
9:53
Speaker 4: for that stimulation to flow through to the construction center.
9:56
Speaker 4: In all the people that benefit from the construction center,
9:59
Speaker 4: because if first of all you have to get your
10:00
Speaker 4: plans done, you have to getting through counsel and all
10:02
Speaker 4: these sort of things, so I think there's always going
10:04
Speaker 4: to be a lag on that. So we've got, you know, things,
10:06
Speaker 4: another six to nine months of hardship for many people.
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Speaker 3: Dave, can I ask you, and it's confidential, you don't
10:11
Speaker 3: have to tell me if you if you don't want to,
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Speaker 3: and just quickly, I mean, how's your forward book looking.
10:15
Speaker 2: Pretty good at the moment, thank you. There's lots of
10:19
Speaker 2: opportunity out there, especially just making sure you get everything
10:21
Speaker 2: actually started. That's the hard part at the moment. There's
10:24
Speaker 2: a lot of interest, there's a heck of a lot
10:26
Speaker 2: of interest actually, to be fair, but everyone's lining up
10:30
Speaker 2: their projects and I've actually been waiting for a release
10:32
Speaker 2: of the of this this construction onslaught that's going to
10:36
Speaker 2: be out there, and I believe there will be.
10:38
Speaker 3: You think it's going to come back as a boom?
10:40
Speaker 2: I do. I definitely do. And where we're going to
10:42
Speaker 2: need it. We're going to need people because we are
10:44
Speaker 2: losing a lot and you'll find a lot of these
10:46
Speaker 2: people that have unfortunately lost their jobs. I think you'll
10:49
Speaker 2: find some repurposing on their career directions, and that's going
10:52
Speaker 2: to be one thing that's actually going to help.
10:53
Speaker 3: Can you teach me how to drive a bulldope?
10:55
Speaker 2: We can teach anyone. Yeah, in fact, what do you
10:58
Speaker 2: look at me like that?
10:58
Speaker 3: Forward? You said you can teach anyone. Seventeen minutes past
11:01
Speaker 3: we're talking to business power and I've just been it
11:03
Speaker 3: wasn't quite offered a job, but I was offered training.
11:07
Speaker 3: Dave Mills, I under a director of Mills Albert and
11:11
Speaker 3: Carl Tiffan Barker join us for the business hour and
11:13
Speaker 3: Dave just fell off the two chair when I said,
11:15
Speaker 3: I've suggested I'd just be a job. That was too
11:18
Speaker 3: much for Wellington Mornings. That's our business panel with Dave Mills.
11:22
Speaker 3: He still we still kept them in here, other than
11:24
Speaker 3: the fact that he knocked over a glass of water
11:26
Speaker 3: all over everything and fell out of the floor. What
11:29
Speaker 3: I suggested that who maybe give me a job as
11:31
Speaker 3: a bulldeauzer driver? That was a little bit too much
11:33
Speaker 3: for him. And Carl Tiffan Barker, owner of Cafe Ice,
11:36
Speaker 3: and I've organized how to get fruit of the forest
11:38
Speaker 3: and a bigger container so I don't run out every time.
11:41
Speaker 3: If you are, I'll give this a little ad. If
11:43
Speaker 3: you are in Cafe Ice, only one to go for
11:46
Speaker 3: is Fruit of the Forest. I mean, you know it's
11:48
Speaker 3: the best. It's the best one. Dave's already looking forward
11:51
Speaker 3: to one this afternoon, aren't you do. Let's talk Wellington business.
11:55
Speaker 3: There's an interesting story in the paper over the weekend.
11:57
Speaker 3: More and more people are leaving Wellington.
11:58
Speaker 2: We know that.
11:59
Speaker 3: We feel that, especially young people who can't get on
12:01
Speaker 3: the properly ladder, have lost their jobs or aren't finding
12:04
Speaker 3: opportunities to grow their career. Most of them more off
12:07
Speaker 3: to Ozzie. But I'm actually hearing a lot more are
12:09
Speaker 3: going to Asia. They're traveling. They're saying traveling is cheaper
12:12
Speaker 3: than paying and renting and living in Wellington. Dave, I
12:16
Speaker 3: mean you just talked about it before. I mean, you're
12:18
Speaker 3: going to have got all these jobs to do and
12:20
Speaker 3: you need people to work. How worrying is this? Young
12:23
Speaker 3: people are a big part of the soul in Wellington.
12:27
Speaker 3: Why are they leaving them? Are you worried?
12:31
Speaker 2: I am worried. I mean it's not just Willington, it's
12:34
Speaker 2: the actual regions as well, where you find is actually
12:37
Speaker 2: a migration out of the great city centers. Some of
12:42
Speaker 2: that's driven by real estate and what have you, and
12:45
Speaker 2: some that it's driven by opportunity. But if we lose
12:49
Speaker 2: all of our youth, of sure, we're going to actually
12:52
Speaker 2: we're going to come to some serious problems in ten
12:55
Speaker 2: twenty years on. We're actually going to miss that benchmark
12:59
Speaker 2: of people that are actually going to have provide the
13:03
Speaker 2: experience and the excellence to be able to to in
13:07
Speaker 2: a layman's sense of construction. We're going to miss those people.
13:11
Speaker 2: They are actually going to be the grunt and have
13:13
Speaker 2: that experience to do so. It is a worry.
13:15
Speaker 3: Have you found that people are coming? I mean, you're
13:16
Speaker 3: based in Capiti. You've got you know, satellites elsewhere, but
13:20
Speaker 3: you're based in Capiti. Are you finding people ringing up
13:22
Speaker 3: and saying can I get a job out there? Can
13:24
Speaker 3: I move out to Kapiti from Wellington and work out
13:26
Speaker 3: there and live out there?
13:31
Speaker 2: We get a range of people from across the board.
13:33
Speaker 2: To be honest with you, there's people coming from outside
13:35
Speaker 2: the region to Capity because Wellington's got this little perception
13:41
Speaker 2: that the actual the construction sensor is a little bit
13:44
Speaker 2: more vibrant than some other areas, So there's there is
13:48
Speaker 2: actually people coming into the area from outside coming into
13:52
Speaker 2: the Wellington into the area as well. Yes, so, but
13:57
Speaker 2: the trade offs of the people leaving is there's a
14:02
Speaker 2: lot more trying to leave the area. So you're finding
14:05
Speaker 2: there's other contractors coming into the area. So I'd say
14:07
Speaker 2: it's probably a little bit more sense because they're trying
14:09
Speaker 2: to get this.
14:10
Speaker 3: Trying to get the market, trying to get into your market. Yeah, Karl,
14:13
Speaker 3: I mean your business is run with young people. I mean,
14:16
Speaker 3: are you having difficulty finding staff? I must admit that
14:20
Speaker 3: your staff have always been very, very good. Do you
14:23
Speaker 3: have trouble fighting.
14:23
Speaker 4: Them, to be honest, for the last three years? Probably yes,
14:27
Speaker 4: maybe up to about six months ago. But over recent
14:29
Speaker 4: times it's been a lot more people looking for work,
14:32
Speaker 4: So I think you would have found that in your businesses.
14:34
Speaker 3: We're still doing it tough. We're still having a real struggle.
14:36
Speaker 3: I mean we're looking for many many positions and really
14:39
Speaker 3: doing it tough. Especially high end, high end cocktailbama and
14:42
Speaker 3: high end chefs are very difficult to find.
14:45
Speaker 4: Yeah, we're more hiring the university students that maybe have
14:48
Speaker 4: a year off, we basically looking for some part time work.
14:51
Speaker 4: So we find a lot of cvs coming in along
14:53
Speaker 4: those lines. So people are starting to think back along
14:55
Speaker 4: the lines of getting jobs and hospitals. So we're not
14:57
Speaker 4: seeing that really at the moment. I think, you know,
15:00
Speaker 4: I guess if you look at the city and you
15:01
Speaker 4: look at that exodus, I guess part of the issue
15:03
Speaker 4: was creating an environment where people want to come to Wasington.
15:06
Speaker 4: Why do you want to come from Wnington? Where's the buzz?
15:08
Speaker 4: You know, where's that vibrance? See that we were changed? Ah,
15:13
Speaker 4: I think it's I think it's all ongoing effective COVID.
15:15
Speaker 4: I think the cost of living is becoming a real
15:17
Speaker 4: massive issue within Wellington. I was up in Auckland, as
15:19
Speaker 4: I said, and we're speaking to a guy who said, oh,
15:23
Speaker 4: you know, I've just paid my rate sport it's one
15:24
Speaker 4: thousand bucks. Said, well, how much do you pay four
15:26
Speaker 4: thousand dollars a year? I go, wow, what's your house
15:29
Speaker 4: worth one point six mill? Oh that's interesting because my mum,
15:32
Speaker 4: whose house is just about the same price as paying
15:35
Speaker 4: nine two hundred dollars a year in my factory out
15:38
Speaker 4: in Grenada North, which is worth the same amount of money.
15:41
Speaker 4: Basically I paid twenty one thousand dollars a year, So
15:44
Speaker 4: you know, I think, you know, we have some really
15:45
Speaker 4: big costs going on here which makes the cost of
15:48
Speaker 4: living a little bit more expensive, So it takes money
15:50
Speaker 4: out of your pocket. That flows through the fact that
15:52
Speaker 4: people have less money to go to hospo and in
15:54
Speaker 4: support the hospow businesses, and we seeing a lot of
15:56
Speaker 4: that over recent times where hospow businesses, you know, the
15:59
Speaker 4: nightlife and Courtney you know as well as I do that.
16:01
Speaker 4: You know they're struggling down that end, and that's that's
16:04
Speaker 4: just losing a bit of vibrancy. And what do young
16:05
Speaker 4: people want? Young people want a vibrant place where you
16:08
Speaker 4: can go and have a really good part what a
16:09
Speaker 4: safe and happy and fun place very much say yeah,
16:12
Speaker 4: I think that's all part of it. So you know,
16:13
Speaker 4: that's the sort of things we need to get to
16:14
Speaker 4: get back and focused on. Is basically, what are people
16:17
Speaker 4: How are we drawing people into the inner city, What
16:19
Speaker 4: are we what are we creating for them to come
16:21
Speaker 4: in and enjoy? And I think maybe we've just lost
16:22
Speaker 4: focused on that.
16:24
Speaker 3: Dave quickly, I've got to go to an air break.
16:26
Speaker 3: Do you think that we can do more to make
16:27
Speaker 3: it a better place and more vibrant place to live and.
16:31
Speaker 2: Work the Wellington Central. I do notice there's there's distinctive
16:37
Speaker 2: signs of the struggle that's out there, So you see
16:41
Speaker 2: that when you're walking on the street, and unfortunately those
16:44
Speaker 2: people there and they do actually sort of make it
16:46
Speaker 2: a little bit of an uncomfortable enviral.
16:49
Speaker 3: Talk about the people living on the street.
16:50
Speaker 2: Yeah, a little bit. Yeah, it's it's it's not they're
16:53
Speaker 2: doing but it's yeah, I get you. Does it does
16:55
Speaker 2: have an impact? I'm not too certain how else Wellington
17:00
Speaker 2: can Actually, it's not just it's not just the city,
17:03
Speaker 2: it's everything. It's we're getting people out and about now.
17:06
Speaker 2: We're a lot more later than what we do and
17:09
Speaker 2: we tend to gather a lot in the street and
17:12
Speaker 2: enjoy the vibrancy at sports games whatever. We're not really
17:15
Speaker 2: sort of bonding together as a community like that, and
17:18
Speaker 2: it'll be something that'll be really good to see happening again.
17:20
Speaker 3: The Commerce Commission reported into New Zealand banking sector has
17:23
Speaker 3: this come back and found the big Aussie banks are
17:25
Speaker 3: highly profitable, lack innovation and don't compete for customers. Finance
17:30
Speaker 3: Minister Nicholas Willis has come down hard on them, saying
17:33
Speaker 3: the government will step in to create more competition. Carl,
17:37
Speaker 3: do you think we actually are being raughted by our
17:39
Speaker 3: big banks?
17:41
Speaker 4: Yeah, it's tricky one, anak. I think we always complain about,
17:44
Speaker 4: you know, big businesses doing pretty well. I mean, there's
17:46
Speaker 4: some arguments that the banks have to make money to
17:48
Speaker 4: be sustainable and to be protected in case of downturns.
17:53
Speaker 4: I personally bank with Keywi Bank because I like the
17:55
Speaker 4: idea of banking with a news.
17:56
Speaker 2: Business banking as well. Business banking with them as well.
17:58
Speaker 4: Some of their they don't have quite the technical ability
18:02
Speaker 4: to do all the business banking maybe efficiently at the moment,
18:05
Speaker 4: and that's probably a bit of a downfall. But what
18:06
Speaker 4: I'd say is when I look at the interest they charged,
18:09
Speaker 4: they are pretty much similar to the big banks. So
18:11
Speaker 4: if we were getting ripped off as public as much
18:14
Speaker 4: as what people would like to think, then Key Bank
18:16
Speaker 4: should be able to better that quite markedly in putting
18:19
Speaker 4: some true competitions.
18:20
Speaker 2: So I just I just.
18:21
Speaker 3: Won't don't think that they are that much more competitive.
18:25
Speaker 4: I think I think, you know, the intrate's pretty much
18:26
Speaker 4: the same, you know, whether you go to Keybank or
18:28
Speaker 4: west Bank, and most of us Key most about the
18:29
Speaker 4: interest rate they're charging us or not giving us some
18:32
Speaker 4: deposit money. So if those are the two most driving
18:35
Speaker 4: factors for us KEYWI Bank either should be able to
18:37
Speaker 4: better them or it says something that maybe we're not
18:39
Speaker 4: getting wrought as much as possib because a lot of
18:41
Speaker 4: them and it's made in the background, through the through
18:43
Speaker 4: the financial market services that they do added value on,
18:46
Speaker 4: or would argue they do added value on.
18:48
Speaker 3: How do you get on with kiwibank with the fact
18:50
Speaker 3: that you're a cash flow business so you would have
18:51
Speaker 3: to do a little bit of cash banking and stuff
18:53
Speaker 3: like that. I know it's dropped the hell out of
18:55
Speaker 3: and some you do no banking at all, but kiwibanks
18:57
Speaker 3: sort of don't have that facility.
18:59
Speaker 2: Do they what they do, but they're limited.
19:01
Speaker 4: So I mean, if you're in Wantington, you know we
19:02
Speaker 4: manage street or empty keys basically where we can go.
19:04
Speaker 4: There's not much parking around them, so it gets a
19:06
Speaker 4: little bit awkward. But as you say this, not that
19:08
Speaker 4: much cash goes through the tools these days, so it's
19:10
Speaker 4: a it's a less of a issue. I mean, I
19:13
Speaker 4: found I found them to be really good, to be honest,
19:15
Speaker 4: I've enjoyed moving with Keeper Bank and I found them
19:18
Speaker 4: quite supportive as well.
19:19
Speaker 3: Right, I'll look into it does banking It does our
19:21
Speaker 3: banking system work for New Zealand consumers and businesses? Dave,
19:25
Speaker 3: do you reckon that we've got a good enough system
19:27
Speaker 3: in place or are we being let down?
19:31
Speaker 2: Well as far as competitiveness goes, we'd like to think
19:34
Speaker 2: they're always getting the best deal. Okay, Since we went
19:39
Speaker 2: through a stimulated economy more or less through COVID and
19:42
Speaker 2: everything aimped up in its price increase, and it was
19:46
Speaker 2: it was a stimulated economy. Since then, what's happening in
19:51
Speaker 2: the construction phase that we've seen as prices are coming
19:54
Speaker 2: down to probably probably realistic levels to be fair, we're
19:58
Speaker 2: actually becoming a lot more hungrier and we'd like to
20:01
Speaker 2: expect that the bank.
20:02
Speaker 3: So your price is basically you're saying, if you have
20:04
Speaker 3: I I asked you to put a new road in
20:06
Speaker 3: down the road here, your price is better now and
20:08
Speaker 3: it was two years ago.
20:09
Speaker 2: We're a lot more competitive.
20:10
Speaker 3: You have to be prices covered down. You're telling you
20:13
Speaker 3: competitive with your quotes, but you carry up.
20:16
Speaker 2: Tory and so we didn't like to think that the
20:18
Speaker 2: banks and other major institutions are going to start following
20:22
Speaker 2: that trend supplies as well. I mean, we all have
20:24
Speaker 2: to make money, but you've just got to be a
20:27
Speaker 2: lot more smarter about how you go about your business,
20:29
Speaker 2: otherwise you're going to miss out.
20:30
Speaker 3: Do you have a relationship with your bank?
20:32
Speaker 2: Do you ever like magnificent relationship with their bat who
20:34
Speaker 2: with the ben Zen? Sorry, I know we're in the
20:36
Speaker 2: aliens here, but we have a fantastic We've been with
20:38
Speaker 2: them since day one and whatever, and that's one of
20:42
Speaker 2: the key things we have done. We'll stay pretty close
20:44
Speaker 2: to our bank and they with us, so we don't
20:47
Speaker 2: have any issues whatsoever. As long as we stay on
20:50
Speaker 2: in those lines of communication.
20:52
Speaker 3: As long as you do overdraft, you're okay. Cal Do
20:55
Speaker 3: you have a good relationship with your bank?
20:56
Speaker 2: Yeah?
20:57
Speaker 4: As I said, I think we get on really well
20:58
Speaker 4: with the guys from Keywi Bank. Yeah, I'm pretty happy
21:02
Speaker 4: with it.
21:03
Speaker 2: I guess.
21:03
Speaker 3: I guess the Keywi Bank do things better. Could they
21:05
Speaker 3: be compete with the big boys? Would you? I mean, Dave,
21:07
Speaker 3: why are you not with Kiwi bank. You're a Kei
21:09
Speaker 3: we loyal Kiwi bloke.
21:12
Speaker 2: That's a good question. Actually, so we've we've not really
21:14
Speaker 2: looked at changing. We just said you've been looked after,
21:17
Speaker 2: you if we've been looked after. So and it's interesting
21:20
Speaker 2: hearing from Carl that there's not two dissimilar interest rates
21:23
Speaker 2: and what have you, and the levels of service we
21:26
Speaker 2: have are fantastic. I just can't I can't really speak
21:28
Speaker 2: highly enough of what we are getting from our bank
21:31
Speaker 2: as far as feedback, advice and actually support. Really can't
21:36
Speaker 2: ask for any more than that.
21:37
Speaker 4: I think that's key, really is if you've been looked after,
21:39
Speaker 4: then you're happy. If you're not being looked after change
21:41
Speaker 4: because the reality is there's not a lot of loyalty
21:42
Speaker 4: from the banks to the customers these days. It's not
21:44
Speaker 4: like twenty years ago, thirty years ago we had long
21:46
Speaker 4: term relationships. Good to hear Dave does have them. But
21:49
Speaker 4: my experience has always been that I deal with a
21:52
Speaker 4: manager and we get on really well and it's really good.
21:54
Speaker 4: Then he gets promoted and then get someone else and
21:57
Speaker 4: then it may or may not work from that point on.
21:59
Speaker 2: But you know, I'm always.
22:00
Speaker 4: Intrigued by the big big businesses like Spark and those
22:03
Speaker 4: places who work really really hard to get new customers
22:05
Speaker 4: but do very little to retain current customers.
22:08
Speaker 3: Have you you as a hospitality operator and I have,
22:11
Speaker 3: so I'm quite a put hand up is as it changed?
22:14
Speaker 3: I mean, I rang a guy I'm looking to buy
22:16
Speaker 3: a piece of equipment, quite an expensive piece of equipment,
22:19
Speaker 3: and I rang a guy that finances me over the
22:21
Speaker 3: phone said I'll send you an application that was twelve
22:23
Speaker 3: pages long. And I said, what the hell's changed? And
22:25
Speaker 3: he said, oh, your hospital. None of the no one
22:29
Speaker 3: wants to touch hospital at the moment.
22:30
Speaker 4: I think, as we know, I mean, hospital is suffering
22:32
Speaker 4: at the moment, probably more than most areas. And I
22:35
Speaker 4: think if you're in hospital and you're trying to raise
22:37
Speaker 4: funds from the banks, they're not going to be that
22:40
Speaker 4: interested in hearing from you. I think that's the reality
22:42
Speaker 4: of it. And I think we have to expect that
22:43
Speaker 4: to carry on for another six to nine months.
22:45
Speaker 3: Yeah, I think I need to get into roading with Dave,
22:48
Speaker 3: and I need to find that job and get out the.
22:49
Speaker 2: Roading all those a job still going over.
22:52
Speaker 3: Well, I don't want to bitch that a year because
22:53
Speaker 3: last time I bented, he dropped his water and fell
22:55
Speaker 3: off the sea. So he said he would give me
22:57
Speaker 3: a job. But then you know he could hear his
22:59
Speaker 3: partners regorge up to say him give him that old
23:03
Speaker 3: father a job. No way. Power prices are at record
23:06
Speaker 3: higher in New Zealand. Our biggest electricity gent tailor's and
23:09
Speaker 3: now it's profits up hundreds of millions of dollars. All
23:11
Speaker 3: amidst our call that we're in a crisis. The government
23:15
Speaker 3: is now moving to boost electricity supply. Carl, how's that
23:19
Speaker 3: changed for you? I mean, electricity prices used to be
23:22
Speaker 3: about three percent or two and a half to three
23:25
Speaker 3: percent for me. Now they're about six which is almost
23:28
Speaker 3: the same as rent should be.
23:30
Speaker 2: Yeah.
23:31
Speaker 4: I think I had a little look before I came
23:33
Speaker 4: on the show actually to see how we're going, and
23:34
Speaker 4: I think maybe we're about thirty percent higher than we
23:37
Speaker 4: were a year and a half ago on electricity.
23:40
Speaker 2: I mean it's massive, It is quite big.
23:42
Speaker 4: I mean, to be fair, when I look at all
23:43
Speaker 4: the other bills that have gone up, I don't necessarily
23:46
Speaker 4: think it's any bigger than what the other precures we've had.
23:50
Speaker 4: I mean, i'd say that you know, just about everything
23:52
Speaker 4: has gone up so substantially for us.
23:55
Speaker 3: Yeah, so it's all right for our rates to go
23:57
Speaker 3: up now, So it's all right for our rates to
23:58
Speaker 3: go up by thirty percent. And if you're saying it's
24:00
Speaker 3: okay for electricity prices to go.
24:02
Speaker 4: Oh no, the rate's gone up by more than electricity.
24:04
Speaker 4: That's my whole point, you know. I mean it's all relative.
24:06
Speaker 4: I mean, obviously we have an issue if we can't
24:09
Speaker 4: keep up with supply going forward, and we need to
24:11
Speaker 4: be having them reinvest in that. So if the one
24:13
Speaker 4: hundreds of million dollars of product profit of being reinvested,
24:17
Speaker 4: then that's probably what we need to be having happened.
24:20
Speaker 4: But if it's not happening, then we're probably a little
24:22
Speaker 4: bit of trouble.
24:22
Speaker 3: Right, Dave, How does the supply crisis concern you? I mean,
24:26
Speaker 3: are you big at electricity users your organization?
24:28
Speaker 2: No, But we've gone solace to be honest, with the
24:31
Speaker 2: installed solar at work, and that provides most of our
24:33
Speaker 2: power use. But I'll tell you where it does have
24:35
Speaker 2: an impact. Recently, you'll see you may have seen a
24:39
Speaker 2: closure of the Courro Policle International pop mall and the
24:43
Speaker 2: Tongue Wai saw more mill two hundred and thirty people
24:46
Speaker 2: employed in those mills, and their power went up from
24:49
Speaker 2: one hundred dollars per mega what hour to five hundred
24:52
Speaker 2: dollars per mega what hour over a three year period,
24:55
Speaker 2: which is an effect actually made that business unattendable. That
25:00
Speaker 2: has a downstream effect obviously on the rural Pehu region
25:03
Speaker 2: and also probably far reaching into the lights of the
25:06
Speaker 2: Port of Napier where a lot of that export material.
25:09
Speaker 2: With all of so, how the exorbitant costs, and that's
25:14
Speaker 2: one of those supplies that maybe need to have a
25:15
Speaker 2: look at what they're doing. We were all sort of
25:18
Speaker 2: trying to clean things back a bit and bring inflation back.
25:21
Speaker 2: We need to actually manage their supplies in that sense,
25:24
Speaker 2: I believe, Well.
25:24
Speaker 3: That's great stuff. That's sad, but great information to have.
25:29
Speaker 3: I've always wondered why the government don't do and now
25:31
Speaker 3: I realized, because they own all these detailers anyway, or
25:34
Speaker 3: a large percentage, why they don't just give you free
25:37
Speaker 3: solar on every house and you pay it off over
25:40
Speaker 3: a period of time, or if you sell the house,
25:41
Speaker 3: you pay it back. I mean, if either of you
25:43
Speaker 3: thought that that would be a good idea that would
25:45
Speaker 3: take a hell of a lot of out of the grid,
25:47
Speaker 3: wouldn't it or would it?
25:49
Speaker 2: I definitely think sol is the idea, especially for residential.
25:54
Speaker 3: Do you have it residentially as well?
25:55
Speaker 2: No, not yet, but we will be look at the
25:58
Speaker 2: pool wall.
26:01
Speaker 3: Oh that didn't work out. So have you got it? Cal?
26:05
Speaker 4: Unfortunately not. We were thinking about it. But I mean again,
26:09
Speaker 4: it's a it's a big investment, cash up frontage safe.
26:11
Speaker 4: The government would lend you the money, but the reality is,
26:13
Speaker 4: at some point everyone pays, you know, everything that we do,
26:16
Speaker 4: everything that happens, at some point there is a cost
26:19
Speaker 4: and someone has to bear it. And you know, the
26:20
Speaker 4: government unfortunately doesn't actually have an endless pile of cash
26:24
Speaker 4: that's sitting around that they can addition to stuff either.
26:27
Speaker 3: Dave, what how much is that? How long is the
26:30
Speaker 3: payback on your solar at work? Because I've got a
26:32
Speaker 3: cafe that I think would would benefit greatly out of
26:35
Speaker 3: solar solar panels? But how how long do you work
26:38
Speaker 3: the investment out?
26:39
Speaker 2: Over has this good question because open and that she
26:42
Speaker 2: had too much to do outside. I'm so sorry, I
26:44
Speaker 2: don't can't tell you, but it's we're providing about eighty
26:47
Speaker 2: percent of our power out of it until you do that. Wow.
26:50
Speaker 2: So and it's amazing how how it works on a
26:54
Speaker 2: day that's not what you'd consider sunny. So it still
26:56
Speaker 2: picks up, still picks up. So it's actually have you got.
26:59
Speaker 3: A what do you call it? A battery pack there
27:02
Speaker 3: as well, so you can keep it in yourself and.
27:03
Speaker 2: Go back into the group, so we don't use the
27:06
Speaker 2: battery pair, there is that option to do so. Yeah,
27:10
Speaker 2: to be quite, it'll be five years.
27:12
Speaker 3: I would think that pays her battery.
27:14
Speaker 2: Yeah, i'd say say, so something like that. Wow, it
27:17
Speaker 2: wasn't that.
27:17
Speaker 3: Me and Carl are just looking at it with bit
27:19
Speaker 3: of breath. Figure, Hell, hell that would work.
27:21
Speaker 4: It must be the capity's son. I thought it was
27:22
Speaker 4: about a fifteen twenty year payback for most people. But
27:24
Speaker 4: if you're using a lot in a lot of panels,
27:26
Speaker 4: and I guess you're getting a bigger benefit.
27:29
Speaker 2: Right.
27:30
Speaker 3: Trades and Construction, Dave, hopefully you know a little bit
27:32
Speaker 3: about this. I keep hearing from property developers aren't doing
27:35
Speaker 3: many or if any deals at the moment with a
27:38
Speaker 3: drop of interest rates. Well, we see more deals on
27:41
Speaker 3: the horizon. What are you hearing, are you feeling it?
27:43
Speaker 3: Are you getting the big developers ringing you again?
27:47
Speaker 2: There is a there's a start of something building. There's
27:51
Speaker 2: a developer with and he was actually thinking about not continuing,
27:55
Speaker 2: and now he's making indications that he's going to do that.
27:58
Speaker 2: The actual builds are starting to happen, just slowly, but
28:02
Speaker 2: like I said earlier, there's a lot more advertising going
28:05
Speaker 2: on at the moment, more than it's been for several years.
28:08
Speaker 2: We're that the A ones and the Platinum homes are
28:13
Speaker 2: really trying to make it effort to get things going.
28:16
Speaker 2: Because now these interesting interest rates coming down, what's going
28:19
Speaker 2: to probably kickstart that that hopefully the escalation and work
28:24
Speaker 2: through construction, vertical construction through residential.
28:27
Speaker 3: So Carl, what are you hearing?
28:30
Speaker 4: I think you know that lag effect is still going
28:32
Speaker 4: to take place. I think you know, people will start
28:34
Speaker 4: warming up again. I know a lot of people were
28:36
Speaker 4: walking away from deals not that long ago. So now
28:39
Speaker 4: with this more positive interest rate scenario, in this thought
28:42
Speaker 4: that maybe we're heading in the right direction now, I
28:44
Speaker 4: think maybe we start seeing that build, but I think
28:46
Speaker 4: you know, again six to nine months for it to
28:48
Speaker 4: start to build into something that's really substantial, I'd imagine.
28:52
Speaker 3: Biggest rumor that's been floating around town for a while
28:54
Speaker 3: is companies associated with Peter Jackson and fran Walsh have
28:57
Speaker 3: purchased more than one hundred million dollars worth of property
28:59
Speaker 3: in Lyle Bay on the waterfront, which suggests that would
29:03
Speaker 3: be a long rumored movie museum. I've also heard there
29:07
Speaker 3: might be some sort of training school out there really quickly,
29:10
Speaker 3: because I've got to go to an ad break for
29:12
Speaker 3: you both, David, how big would this be for Wantington?
29:14
Speaker 2: Massive? I just think the hefty of the roading infrastructure
29:17
Speaker 2: bell to handle the traffic, that's the number one thing.
29:19
Speaker 2: It's bad enough now and get back and forward. So no,
29:22
Speaker 2: I'm serious to get help with that.
29:23
Speaker 3: Yeah, no, but it is.
29:24
Speaker 2: But you're right, but the whole thing for the Wilington
29:27
Speaker 2: area will be fantastic, especially with the training institute attached
29:30
Speaker 2: to it. Okay, that massive.
29:32
Speaker 4: I mean, we can't be we can't actually say how
29:35
Speaker 4: grateful we should be for Peter Jackson Van Walsh's investment
29:38
Speaker 4: in Wennington and continued investment in Wantington. I would have
29:41
Speaker 4: rather seen it. It's Keena, obviously, where he wanted it
29:43
Speaker 4: in the first place, but I think anywhere in Warnington
29:45
Speaker 4: it's got to be a positive ver a city.
29:47
Speaker 3: Right. Oh, guys, someone really really special comes into town, right,
29:51
Speaker 3: someone that's never been to Wellington before. You're picking them
29:54
Speaker 3: up at eleven am at Wellington Airport's been a bit windy.
29:57
Speaker 3: Hopefully the plane didn't catch fire, landed, are okay and
29:59
Speaker 3: they're feeling like they're all right. You picked them up
30:02
Speaker 3: at Wellington. Mort Wellington the airport, Dave Mills. I know
30:05
Speaker 3: you're going to get out the Capity as quickly as
30:07
Speaker 3: you can. But what do you do? And you can
30:09
Speaker 3: take them straight to cap but you don't have to,
30:10
Speaker 3: you can bypass Wellington. What would you do with that
30:13
Speaker 3: very special person when they flew into Wellington Airport?
30:16
Speaker 2: I'm surprised you're asking me that. You know, I'll take
30:18
Speaker 2: them to a Saints game, but seriously, well also the
30:22
Speaker 2: tour lines or a Pride game. We've got to get
30:26
Speaker 2: our community going. But now I'd probably just take them
30:28
Speaker 2: for a walk down down the waterfront. To be honest
30:30
Speaker 2: with you, everything's down there. Call them to a couple
30:32
Speaker 2: of bars, maybe have a latte or something like that,
30:35
Speaker 2: but just down the waterfront, just soaking some of their
30:37
Speaker 2: ambiance that's down there.
30:39
Speaker 3: Yeah, Carl, what would you do apart give him a
30:42
Speaker 3: free ice cream?
30:43
Speaker 4: I do exactly the same. I think the waterfront is
30:45
Speaker 4: out as really the heart and soul of Wontington and
30:47
Speaker 4: what's special about it? To paper, I think is probably
30:50
Speaker 4: worth a visit just for the Gallipoli display if nothing else.
30:54
Speaker 4: So that and then a meal at Shed five would
30:56
Speaker 4: probably be my preference. But otherwise, you know, if it
30:58
Speaker 4: was a bit younger and a bit more vibe we
31:00
Speaker 4: wanted them, it'll probably be Monsoon Poone or Napoli and
31:04
Speaker 4: then probably drink it. Maybe Hawthorne Lounge or maybe somewhere
31:08
Speaker 4: like Library will probably be my cup team.
31:10
Speaker 3: Okay, let's just fly. You've just given me just a
31:15
Speaker 3: fly that the Unions wouldn't have let the posties deliver.
31:18
Speaker 4: Yeah, I was so lucky. I wasn't on there that week,
31:20
Speaker 4: weren't they. Yeah, just riding my mailbox before I came
31:23
Speaker 4: down here. It was from better Wellington and I thought
31:25
Speaker 4: you might like a copy.
31:28
Speaker 3: Your future rich bill will be twenty and twenty six.
31:31
Speaker 3: Of it was nine thousan five hundred, now twenty twenty six.
31:34
Speaker 3: It's going to be fourteen thousand and twenty and twenty nine.
31:37
Speaker 3: It's going to be twenty four thousand. They're out. I'll
31:40
Speaker 3: put that. I'll put that up on our Facebook page
31:43
Speaker 3: for you to have a look at. Thank you both
31:45
Speaker 3: very much for coming. And we didn't even get to
31:46
Speaker 3: talk about Golden Mile. That's probably a good thing. We
31:48
Speaker 3: would and didn't have long enough, did we that with Carl.
31:52
Speaker 3: Thank you both very much for what you do for Wellington.
31:54
Speaker 3: Appreciate and appreciate you coming in and have a great afternoon.
31:59
Speaker 3: And let's be positive about Wellington. It feels like to
32:02
Speaker 3: me and I might be too positive. It feels like
32:04
Speaker 3: we've bottomed out. I can feel it, feel it going,
32:07
Speaker 3: and you're both nodding, so you both agree, let's hope.
32:09
Speaker 2: So you think it's going.
32:10
Speaker 3: To be a little bit. Karl does think it's going
32:11
Speaker 3: to be a little bit longer, and I'll take his advice.
32:14
Speaker 3: But Milsey and I are, we're pretty optimistic.
32:16
Speaker 2: We're going to go for it.
32:17
Speaker 3: I reckon the Saints might make the finals next year.
32:19
Speaker 3: Of course, that's that's real optimism.
32:23
Speaker 1: For more from News Talks B listen live on air
32:26
Speaker 1: or online and keep our shows with you wherever you
32:29
Speaker 1: go with our podcasts on iHeartRadio,