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The Loco Loco Yet Again
I am currently out of the country , but the other day I saw that NZTA have agreed to extend the Loco Loco 'trial' by another 2 years . They have reduced their contribution from 70-odd percent , to 60 percent . So their contribution is now $12.2 million for the next 2 years .
Now work that out . That means the cost for 2 more years is 'only' $20million , of which 'we' pay all of , one way or another .
That is $10 million a year , or $833,000 a month , or $200,000 a week , or $30,000 a day . That is how much it is losing . $30,000 a day . 7 days a week . ( Does it run on a Sunday ? ) . I doubt it gets 300 passengers a day , so that is $100 a passenger a day IT IS LOSING . Yes , every day they light a bonfire , and throw on $30,000 !
But wait -- theres more ! It has already cost about $120 million so far . Over $80 million of that is the capital costs , which are basically worth nothing .
So calculate the capital cost , and the on-going losses , and the $25 return ticket is actually costing ratepayers and taxpayers close on $500 . Per Person . Per Day . For another 2 years !
It is never , ever , ever going to get anywhere near break even , so these geniuses for some reason decide we'll throw more money at it for another 2 years .
Even Len Brown says it should be cancelled ( and he always struck me as being not the brightest , and 'left wing' ) , as does Luxon , Seymour and anyone who knows even the slightest about running a business , or logic , or common sense .
Why , oh why ?
The latest on city finances
Hamilton’s projected deficit has worsened, while development is on a “downward trajectory” not seen since the Global Financial Crisis.
Those findings were in a report to Tuesday’s finance and monitoring committee hui, as the cash-strapped council battles a range of issues and is consulting on a 19.9% rates rise for 2024-25.
Share your most delicious (but affordable!) go-to meal...
Winter is knocking at the door and the cost of living has already made itself at home. So let's help each other out by sharing your meal ideas that don't break the bank.
Comment below with your go-to meals that are delicious and affordable.
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