Weldon makes mark on MediaWorks, low oil prices spur rethink, social capital in schooling

In NBR Print today: In a mere seven months, MediaWorks group chief executive Mark Weldon has already transformed the company’s culture. The reputation he earned for a “ruthless, take no prisoners focus on enhancing the bottomline” when he was running NZX is in no danger of revision in his new role, ex- and current MediaWorks employees tell Nick Grant.

Meanwhile, MediaWorks may well be having second thoughts about its internal review of Campbell Live after mainstream and social media outrage at the possibility of the show being cancelled as well as a substantial improvement in ratings. Campbell Gibson reports.

A collapse of global oil prices is forcing energy companies operating in New Zealand to make hard choices over how to spend a shrinking budget. Essentially, oil companies now have more options than money, reports Nathan Smith. Over the past year, the industry has been painfully reminded that petroleum is only a commodity and it is vulnerable to drastic price fluctuations.

New Zealand’s richest man Graeme Hart didn’t get his $7 billion fortune through bad business decisions so, if he is gearing up to divest an asset, investors know a fine toothcomb has been put to good use. Calida Smylie looks at what what should the market look out for when assessing the potential re-float of Carter Holt Harvey.

Winston Peters is calling for an external review of what he describes as a “departmental and governmental botch-up” of the 1080 poison threat as authorities refuse to deny the threat solely concerns Chinese-bound infant formula. However, as Jamie Ball reports, the New Zealand First leader’s claims don’t wash with some infant formula manufacturers who say the Ministry of Primary Industries handled the threat well.

Talk of recovery in the US and a bottoming out in Europe has given rise to hopeful expectations the global economy is slowly but steadily returning to normal. The latest IMF World Economic Outlook (WEO) has put the kibosh on that, says Michael Coote.

New Zealand got a reminder this week that the government accounts are not the economy. Business investment is up above heights last seen during 1993-94, and firms are reporting lower costs and increased hiring intentions. The news highlights the folly of putting quite so much emphasis on the government books as a measure of economic success. Rob Hosking reports.

A mega cruise ship headed to Auckland next year might not be able to berth at the city’s Waitemata port if work on two new piled wharves is halted by court action. Meanwhile Auckland councillor Chris Darby tells Sally Lindsay he would prefer see a drop in Ports of Auckalnd’s dividend to the council rather than any further ‘sprawl’ into the Waitemata harbour.

The wider retailing sector has displaced healthcare to become the most widely owned among stock pickers in the US. Here at home, one broker chooses Michael Hill International [NZX:MHI] and Kathmandu Holdings [NZX:KMD] as the two most likely to outperform. Both are heavily exposed to the Australian economy where consumer sentiment is low but are well managed and can respond to sales volatility, writes Nevil Gibson.

New Zealand’s “rock star economy” got another play this week, but it is intriguing to see who talks about it the most. In the past 12 months, the phrase appeared in 25 speeches in the debating chamber. Sixteen of them – nearly two thirds – were by Labour MPs. See this week’s Private Bin column for more.

Questions need to be asked in a review of decile-based funding of schools, says Rose Paterson at the New Zealand Initiative.

Trying to navigate your way around cloud options? Chris Keall talks to Compass founder and chief executive Karim Hussona about outsourcing IT, data sovereignty and the moving the phone system to the cloud.

In property, Chris Hutching reveals Winton Partners has obtained resource consent from Queenstown Lakes District Council to develop a 56 luxury houses at Kawarau Falls. But the neighbouring Hilton Hotel is seeking judicial review of the non-notified consent.

What is believed to be Wellington’s biggest leaky building battle is almost over, following a new court ruling. Wellington’s St Paul’s apartments is located just up the road from Parliament and counts MP Tim Groser among its 114 owners. It was designed by the late Sir Ian Athfield and completed around 2000.  Victoria Young reports.

All this and more in today’s National Business Review. Out now.