#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Consultants helping the Military milk the FNPF cow

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Friday, June 3, 2011

Consultants helping the Military milk the FNPF cow

By Professor Wadan Narsey
Some one kindly sent me the presentations at the recent symposium stage-managed by the Bainimarama Regime and FNPF management - and cruelly disrupted my peaceful work in quiet law-abiding Kagoshima, Japan.

The FNPF symposium was to forewarn the public of forthcoming changes in the management, operations and pension rates of the FNPF.

The only substantial presentations were from the two Australian consultants Promontory (Stephen Mason and Shauna Tomkins) and Mercer (Richard Codron) but they probably also had a heavy input into the two presentations by the FNPF management.

The public were not given the detailed consultants’ reports, or the actuarial studies, data and associated financial projections, to back up their recommendations. 

Nor were the public given reports that explain the causes of the recent investment disasters by the FNPF Boards.

The FNPF owners were simply asked to accept, on the basis of simplistic data and graphs, the recommendations of the consultants and FNPF management, at face value.

Yet serious questions may be asked, for example, whether the Mercer calculations are correct, especially their assumption of Fiji’s future mortality patterns following Australian patterns.

Sadly, while these consultants and FNPF management talked about accountability and transparency, and the need to protect “whistleblowers” - they do not apply these same principles to themselves with their data and analysis.

In particular, the Promontory recommendations on the “Restructured Board” are a total sell-out of sound principles of accountability of the FNPF management and Board, to the real owners of the FNPF, and their restructured Board will continue the FNPF mess into the foreseeable future.

These consultants’ direct involvement in the politically inspired symposium sadly shows how supposed independent experts in their field, will prostitute their services into illegal processes being stage-managed by this illegal Military Regime.

These consultants are no doubt earning large consultancy fees - which the unaccountable FNPF Board and management will not reveal to the public, giving the lie to their claims of transparency, accountability and integrity.

These consultants’ recommendations also make sure that they will continue to milk the  FNPF cow well into the future, just like the ATH fiasco 13 years ago.

The continued lack of information
It is quite likely that the high pension returns of between 15% and 25% as a small proportion receive, are not sustainable and not “fair” to current contributors. 

But these are legal contracts between FNPF who offered and signed them with those receiving the pensions, and in case we forget, FNPF is also corporate entity bound by Fiji contract laws. 

These legal contracts cannot be changed without the consent of the pensioners. But legal contracts are not a problem for this Military Junta.

It is also likely that FNPF may have to reduce pension rates for those retiring in the future.

But by how much and why, are the tough questions on which neither the FNPF Board and management, nor the consultants are providing the data that FNPF contributors and pensioners are entitled to see.

Using the information I gave FNPF management a few weeks ago, Aisake Taito quoted me stating in Parliament in 1998, that for sustainability, the pension rates should be immediately brought down, to ensure equity between pensioners and contributors.

Taito conveniently forgot to mention that the debate in 1998 was whether to bring the  rate down from 25% to 15% immediately (which was my recommendation then although I would have lost out personally) or gradually down by 1 percentage point annually to reach 15% eventually. 

The latter was adopted largely because of pressure from older Parliamentarians, FNPF management and FNPF Board (some of whom personally benefited from the final decision).

But the current discussions are about reducing pension rates even further from 15% to 9%, in a totally different economic and political environment for the FNPF Board and the economy.

The tragedy is that the owners of the FNPF are not allowed to see the reports and the actuarial analyses behind the current consultants’ recommendations, while there are serious questions that we can ask, even on the bits of information that are available.

Is the Mercer analysis correct?
The Promontory recommendations are based on the Mercer actuarial analysis.

The Mercer presentation stated that the mortality rates they used were derived from “the 2008 Fijian population life tables prepared by the World Health Organisation”:  no big problems with that (although the Fiji Bureau of Statistics should have their own life tables).

But then the Mercer presentation states that they used “Mortality improvement based on experience of the Australian population over 25 years as reported in the current Australian Life Tables (2005-07).”

Can projections of improvements in Australian mortality be used to predict future trends in Fiji’s mortality?

Australia’s life expectancy is rising, their people are living longer, and drawing pensions for longer.

If the Australian patterns of mortality improvement did apply to Fiji, then Fiji people would also be living longer, and the sustainability of FNPF pensions may indeed require relatively lower pension rates for Fiji.

But if Fiji’s mortality falls or stagnates, then Fiji’s pensioners will die earlier not later as predicted by Australian trends, and Fiji’s pension rates would need to be relatively higher.

Fiji’s mortality patterns?
All indications are that Fiji’s mortality will not fall like Australia’s and Fiji’s life expectancy will not rise like Australia’s.

In Fiji, life expectancy for some ethnic and gender sub-groups groups actually fell between 1986 and 1996.

Demographer Dr Martin Bakker, working with the Fiji Islands Bureau of Statistics, concluded that  “adult mortality has actually increased somewhat during the period 1986-2001” and at best there may be a mortality stagnation, not improvement.  Dr Bakker attributed what I called this “perverse” result (“perverse” because Fiji’s GDP per capita was concurrently rising) to:

(1) possible deterioration in the delivery of health services for adults by the Department of Health;

(2) increase in non-communicable (lifestyle) diseases among the adult population;

(3) differential net migration, with successful emigrants more likely to be healthy persons than unhealthy (i.e Australia, NZ, Canada and US don’t want our “sickies” as residents).

While I am not a demographer (although I do population projections), I would suggest that these three factors will be even stronger in the future.

First, the continued losses of qualified health personnel and the stagnation of the Fiji economy and health budget, will continue to worsen the Fiji health service system.

Second, the life style diseases will worsen as people fall more into poverty and Fiji people consume more and more processed westernised foods and junk foods (as my forthcoming 2008-09 Household Income and Expenditure Survey Report  for FIBoS will reveal).

Third, the emigration of healthier persons will continue now that even qualified indigenous Fijians are emigrating in large numbers like qualified Indo-Fijians and Others, leaving behind a less intelligent political electorate of all ethnic groups, whose political and social leaders (military included) will periodically and callously destroy the economy and FNPF’s revenue streams, for their selfish ends.

Therefore, Mercer’s use of the Australian improvements in mortality to project long-term pension outflows for Fiji is not appropriate.

What would be the impact on sustainable rates of return if we made different assumptions about Fiji’s future life expectancy?  We do not know. 

Because none of the consultants (from Mercer or the Promontory) or the FNPF management, are releasing any actuarial Reports, or their detailed analysis, or any sensitivity analysis which might inform a few of us more numerate persons amongst the generally senile and apathetic pensioners of Fiji.

Despite my pleas to the Promontory consultants, they are themselves not going to be the whistleblowers (who they claim to want to protect in their proposed new legislation for FNPF).  

The real consideration for both Promontory and Mercer would be, quite understandable, why risk future juicy consultancies to help for FNPF contributors, when it is the FNPF management and the Military Regime that gives them the consultancies and pays their fees?

The Consultants’ next Board?
Possibly the most horrifying aspect of Promontory’s nasty role in this exercise is their explicit recommendations for the continued Military Regime’s total control of the FNPF Board  ie for the major borrower from the bank to continue to control the bank.

The Promontory consultants recommend a 14 person Board, with 7 appointed by the “Minister”, 1 “Government” representative (ie the Military Government will already appoint 8 out of the 14 and effectively control the Board), 4 Independents, 1 from employer groups and 1 from employee groups.

Pray, why only 1 for all the hundreds of thousands of employees who actually own the money in FNPF?  Tomkins and Mason facetiously refer to the “ILO Committee of Experts” as if this justifies the token representation for the employees.

Who will select the 4 “Independents”.  Who knows? Why can't the majority of the Board be elected by the FNPF Members?

The Tomkins and Mason presentation cynically stated “elections for Board members not practical – and too expensive”. Wow.

Here we have an FNPF which proudly boasts of being highly computerized in its financial and demographic data; all the mailing addresses of the FNPF contributors and pensioners should be known; all should have their own ID cards. If any pensioner does not show up every six months their pension stops.

It would be simple enough for all these FNPF members, over a one month period at their leizure, to go into any FNPF office throughout Fiji, and cast their votes for their own representatives to the FNPF Board - with separate representation for contributors younger than 40, those between 40 and 55 and the pensioners, to ensure all interests of FNPF owners are safeguarded; and by all means have eligibility criteria such as education, lack of criminal records etc.

But no, our expensive overseas experts saw this as too “impractical and expensive”! 

So despite seeing with their own eyes the massive financial damage that has been done to FNPF by its major borrower and controller (the Government) and the total lack of accountability of the FNPF Board and management to its real owners (the contributors and pensioners), what do our great expert consultants recommend?   More of the same.

What did FNPF pay these expensive consultants?

The rhetoric of good governance
The consultants spout heaps of rhetoric about new legislation that will ensure that the FNPF Board governs well: proper codes of conduct; strict eligibility requirements; strict grounds for removal etc; and even a great role for “prudential supervision” by the RBF.

So what is new?  Such provisions have been there and flaunted with impunity by this unelected Military Regime and its appointees, and even previous Boards appointed by elected governments, where also there were no members directly elected by FNPF contributors and pensioners.

This Military Regime has sacked Board Members and appointed whoever they wanted, with impunity.

Their new Boards have blundered and been replaced by others, equally unaccountable and non-transparent.  No one has been taken to task and no one will ever be taken to task.

What a laugh for the consultants to claim that the Reserve Bank of Fiji will have greater powers of oversight over FNPF.  They always allegedly have, and failed miserably. They even have a conflict of interest in forcing back FNPF interest earning investments to Fiji.

This Military Regime sacked a Governor of the Reserve Bank and appointed their own with impunity. They can do it again.

The real control of the FNPF Board and management will continue to be this Bainimarama Regime and their hangers on, who have treasonously removed elected governments, willy-nilly changed the judiciary, spat on constitutionality and the rule of law, abused human rights, and continue to deny our freedom of speech and assembly. 

Why would anything change at FNPF just because of new legislation by military decrees?

Consultants and illegality
Note that the presentations by the consultants themselves made no explicit recommendation to the Military Government to illegally reduce the pension rates of existing pensioners, by military decrees or otherwise.

But Tomkins and Mason state in their presentation that there will be a “Staged implementation .. some provisions commence on gazettal”.   Gazettal?  By whom? And with what legality to change contracts?

Cunningly, the expert consultants left it to the FNPF management presentations to recommend that existing pensions must be reduced. 

So expect more illegal military decrees.  Who cares about the trifling matter of the breaking of sacred contracts?

Future milking by consultants assured
The Promontory presentation by Shauna Tomkins and Stephen Mason mentions, as if in passing that a future “Board will be required to develop and offer alternative retirement income products ... subject to actuarial sign off and Reserve Bank approval .. and that the law will provide a structure for other financial institutions to offer retirement income products ... this will take some time to develop …” (ha ha ha. read: more consultancies).
They also recommend the splitting of the FNPF (notionally) into two funds - the Retirement Savings Fund and the Retirement Income Fund; there to be portions for compulsory pensions, other portions which may be taken as lump sums, or as other products, etc.  Details to be worked out (ha ha ha. read: more consultancies). 

But what a good way to earn consultancy fees by creating the illusion of two separate funds out of the same pool of FNPF money owned by the same contributors and pensioners.  Oh yeah!

There is also the Mercer discussion of “demonopolisation” to offer competition to  FNPF while pointing out the resulting “high responsibility on Government to oversee new providers to protect public” (this Government protecting the public? What a joke.)

Mercer also suggests “Offer partnerships to other institutions with proper credentials in investment, insurance, micro-finance to assist reducing FNPF dominance and development of stronger financial services industry” (ha ha ha. Read: more consultancies).

But what?  Create other institutions to reduce FNPF’s already weak powers in the small financial market where they are forced to lend at low rates of interest already?  Oh yeah!  Let us have some competition to reduce the returns to FNPF further.

All these changes, good governance, transparency, etc will be supervised by the Reserve Bank of Fiji which continues to be under the total control of a Military Regime which refuses to release Auditor General’s Reports for the last five years (which would show its theft of hundreds of millions of taxpayers’ dollars) or any report which will show the Regime’s role in the mess Fiji is currently in.

But we can all live happily ever after, because the Reserve Bank of Fiji and FNPF management will have the continued support of actuarial experts and consultants from Mercer and Promontory.

So expect more FNPF symposium charades, orchestrated by more expert foreign consultants who will, for generous consultancy fees to themselves, help this Military Regime to milk the FNPF cow further.

Tough luck, if the milk dries up for the pensioners and current contributors who own the FNPF. That is not the consultants’ problem.

To the Fiji wolves circling the FNPF cow, add another wolf - the foreign consultants to FNPF.

Post-script

FNPF Management, the Military Regime, and the “Principal: Agent” problem
Readers might wish to understand the phrase “principal – agent problem” in the context of FNPF (and many other organizations).

The “Principals”: are the “owners” of the enterprise:  here the FNPF contributors and pensioners.

The “Agents”: are those charged with looking after the interests of the owners: here the FNPG management, the FNPF Board, and the Government, are the “agents”.

The “Principal : Agent” problem arises when the “agents” begin to run the organisation in their own interest rather than that of the Principal. 

This problem arises frequently in large corporations where the shareholders are too diffuse to have effective control over management.

A similar problem is at work with FNPF.  We already understand how successive Fiji governments (including this Military Regime) has used the FNPF money for its own deficit financing and other nefarious purposes.  But do not forget the interests of the FNPF management.

When I had asked FNPF management why they not abide by their commitment to transparency and accountability and release all the reports to the public, the answer from one senior manager was:  I don’t want to go and plant cassava.

But readers may wish to also keep in mind the following simple arithmetic which may partly explain the FNPF management’s enthusiasm for the changes being recommended.

In any year, there are inflows determined by the compulsory contribution rates and investment earnings.  The outflows are determined by the withdrawals and pensions paid.

Reduce the pensions paid (and the withdrawals) then you automatically increase the amount of “free cash” or liquidity within the FNPF - which should belong to the members as a reserve, but it also becomes “available” to improve the salaries and perks of the management and staff. 

But especially likely to benefit will be the salaries and perks of the senior management with fancy titles, who supposedly make the key decisions (while all the real work is done by outside consultants). Is it any wonder that the FNPF management are also very keen on the “reforms”.

So keen to get more money into the system that one of them has had the very bright idea:  why not get some deposits from school children? 

“Hey, their money will be with us to use for another forty fifty years, before they     start withdrawing.   Who cares if by that time their money will be worthless      anyway (because of the inflation caused by all the irresponsible governments we  can expect); and we won’t be here to answer to anyone. What a good scam, if only we can pull it off.  Let us hope that there are lots of gullible parents who will trust us to safeguard and invest their children’s money wisely.  We will lend lots to Frank and Aiyaz, of course, who will keep us here, away from the cassava teitei.”

Oh, yeah.

27 comments:

Anonymous said...

WHO SOWS MUST REAP. And cause must brng the sure effect. Good, good. Bad, bad. And none escape the law. John Galt.

Anonymous said...

The junta of thugs no school dictator is responsible for the collapse of FNPF like sugar industry and FSC. This also includes all FMF officers and their families FNPF pension monies who blindly follow the incompetent and corrupt coward. Will people allow the thug to bankrupt the entire nation. With inflation at 7% the FNPF funds of members is more worthless. The Finance minister with no school must resign now.

John Galt said...

Landowners have their own views


The dictator’s threats against Fiji Water included a demand to surrender the lease it has for the land where the water is sourced. However the Assistant Secretary General of the Sugar and General Workers Union, Mika Mataka, rejected this: ” it’s a matter for the local landowners to decide . The landowners have faith in Fiji Water because it’s a company of substance, unlike the tin-pot dictator who is all bluff and hot air.

Like most other people in Fijian villages, they’re just waiting for the dictator’s time to come so they don’t have to put up with his arrogance any more. John Galt.

http://www.rnzi.com/pages/news.php?op=read&id=57353

Anonymous said...

http://www.radioaustralianews.net.au/stories/201106/3234294.htm?desktop

Anonymous said...

Great piece of paper- I am sure Aiyaz, Baini and his spies are all reading this- May god give them some brains to implement these controls

Anonymous said...

VINAKA DOC NARSEY.
WELL MATE KEEP IT UP.THEY WILL TAKE YOU TO THE CAMP.SOON YAAR.
FNPF MONEY IS BEEN USED/ABUSED BY THIS ILLEGAL GOVT/BOARD.NATADOLA/MOMI/TAPPOOS/OTHERS.
THESE COMPANIES PEOPLE SHOULD BE TAKEN TO COURT.
WELL IT WONT HAPPEN UNDER AG/BAI.
GOD BLESS FIJI
RAJESH

John Galt said...

Can Fijians trust their FNPF retirement money with this Lankan foreigner and drunkard?

Drunkard FNPF Chairman Ajith Kodagoda, personally hand-picked by Frank Bainimarama to try and hide how his regime is milking the FNPF cash cow.

Ajith Kodagoda is also Chief Financial Officer for a Fiji Patel empire, the CJ Patel distributorship company based in Veisari, Lami.

So who exactly is Ajith Kodagoda to whom Frank has entrusted FNPF members’ hard-earned retirement money?

Our sources reveal that Ajith Kodagoda is a full blown regime supporter.

He is Sri Lanka’s honorary consular in Fiji and lives in Waimanu Road opposite St Joseph’s school.

He was very instrumental in organising the Sri Lankan High Commissioner’s trip to Fiji in late April 2009 to present his credential to Iloilo, the guy who in April 15th, claimed to have abrogated Fiji’s 1997 constitution.

Sri Lanka was the first country to give recognition to Fiji’s new illegal order, thanks in part to Ajith Kodagoda’s wheeling and dealing with Frank & Co.

Ajith is the main guy controlling the CJ Patel business and has been for many years now.

It is said that Ajith is the backbone of the CJ Patel Fiji operations while the heir to the CJ Patel empire, Sundip Patel, the only son of Mr Patel Senior, lives full time in Sydney, Australia.

Ajith Kodagoda also controls CJ Patel’s majority interest in Fiji Sun, Fiji’s other newspaper that has become the junta’s fulltime propaganda machine after its pro-democracy publisher Russell Hunter was forcefully removed by the junta followed by the sudden resignation of its editor, Samisoni Kakaivalu. Fiji Sun is now managed by pro-regime publisher Peter Lomas, backed by the regimes newspaper advertising dollar.

Ajith is a Sri Lankan national brought in by CJ Patel many years ago to manage their kitty.

Those who have worked for him say Ajith is a cunning fox who will use all the game in the book to delay payments, to find excuses not to pay their creditors, often quoting frequent fradulent activities by his staff members with their photos plastered in Fiji’s dailies to punctuate his concerns of how thieving is affecting their business, hence their late payment requests to their creditors.

Ajith’s appointment to the FNPF board does not surprise those who know him well.

They say Ajith Kodagoda is happy to serve tyrant Frank Bainimarama for he is one of the first to benefit from the junta’s dual citizenship allowing him to hold a Sri Lankan and a Fijian passport, giving him the leeway to meddle around with FNPF members shrinking fund.

He is also close to Frank’s Chief Justice Anthony Gates and together, they have imported a good number of Sri Lankan magistrates and judges to churn the regime’s judicial wheel.

He has been quoted as saying that “Frank’s coup is good for Fiji and FNPF.”

But many Fijians don’t think so.

Kodagoda’s statement should have been, “Frank’s coup is good for me and CJ Patel!”

John Galt.

Anonymous said...

PEOPLE HAVE TO WAKE UP AND KICK THIS BOARD/ILLEGAL GOVT OUT.
BEFORE FNPF BECOME ANOTHER NBF SCAM.
I FEEEL FOR OUR FNPF MEMBERS.THIS IS THEIR SAVING FOR LIFE.
THIS GOVT HAD USED 74% OF THE FUNDS .
FROM MY MATES WHO WORKS FNPF.
GOD HELP FIJI.

Anonymous said...

Jake says,

Thank you Prof Wadan. Because you care about people's monies in FNPF hence your commentries.

Fijians are indeed gullible people and will not act until thgeir pants is down. While the elite preys on tax payers. Thanks for the clean up VB & Aiyazz & Naz Shameem - you bloody filthy dogs.

FNPF symposium is also a farce - nothing new, its plagarism from the originals including CEO's comments.

Radiolucas said...

What a great pieve and what a revolting prospect.

No wonder those who withdrew their FNPF relatively early are counting their blessings - this corruption should not and cannot continue - except that it is aided and abetted by the biggest criminal gang in the land: the RFMF.

Anonymous said...

People, start investing your future in other places, eg. LICI and insurance bonds..much better and safer., higher interest and its a life policy as well..you dont have to struggle to access your money.. Im glad i am not a member of FNPF.
This govt sucks!!
They need to to be terminated for good.!

Anonymous said...

Fellow Citizens,

I have a document onhand which would show the full dealings between Tappoos and FPNF over their Suva Centre Project and the cost blow-outs.

How can I post this on the blog to show all.

this will further prove to all the corrupt companies like Tappoos milking the FPNF for funds that dont belony to them and no intent to pay back.

Anonymous said...

The Max
Reply to Wadan luveni ulukau !

Anonymous said...

Thank you Wadan. That is why this coup (like every other coup in Fiji's history) needs to be condemned and not glorified. Just like all the other military regimes in Fiji (and everywhere else for that matter), the only people who "benefit" are those with the snouts in the trough (including foreign consultants and businesses). Regimes like these are a magnet for crooks - like flies are to shit! As for all the coup-sympathisers outside Fiji (including the one in Horowhenua) - if you think the current regime is "shit-hot" (excuse the pun), then take all your money and voluntarily invest it in FNPF so that you know what those who are compelled to do so are going through. Then let us see if you continue to extoll the regime's so called "virtues". You can bet your last dollar that the swines with their snouts in the trough are siphoning as much as they can out of Fiji.

Anonymous said...

Great piece by Prof Wadan. What use are these people at FNPF if all they do is get outside consultants to do the hard work. All they're good for is collecting fat salary checks at our expense! Why should the pensioners suffer because of the stupidity and greed of the Bainikhaiyum regime supported by the idiotic yessir soldiers! You soldiers are the ones who will share the blame for this because it is thru your support that this idiot continues to trash everything good in this county. Ni veitauri dakai mada ni yavu ulukau!! This pig Vore and his puppetmaster Aiyarse don't need the FNPF because they're already millionaires and have their retirement fund in overseas bank accounts. Meanwhile the people who have worked their whole lives to get a half decent pension now have it cut in half at a time when the price of everything is sky high. Kemuni na sotia, dou veivutu mada kei nomudou kalou qori Voceke!! Sega ni dua na kemudou yaga!

Anonymous said...

Thanks Dr Narsey!! I think FNPF is in deep shit if it isnt already.... a cash cow for all to milk, consultants and government alike!!!!!!!!!

Anonymous said...

@Anon 12:32 PM. Get in contact with COUP 4.5 immediately and ask them to publish this document here.

Contact : pacificinthemedia@gmail.com

John Galt

Anonymous said...

@Anonymous 11:14

Military Govt already used 74% of the FNPF funds!

FAAAARRRRRKKKKK!

Anonymous said...

ALL COMMENTS ABOVE BY THE HIJACKING JOHN GALT SHOULD BE DISREGARDED COMPLETELY. He has no credibility sinces he has no life but to steal the tag of another blogger.

You, fraud, need to get a life! Go suck on your thumb or something more productive. I'll leave that to your imagination. (Oh, I forgot! You DON'T HAVE ONE!) Actually, (and I realize how DIFFICULT this is for you) try to THINK of your own tag. Ah, maybe, Porky. Spot. Dumbo. Does this help?

RE: Professor Wadan Narsey

This is an intellect that Fiji most desperately needs. Sir, (and I offer that salutation with distinct regard) you know exactly what we are dealing with.

Smoke and mirrors. The pretense is transparency but the truth is anything BUT. NO public disclosure. NO public scrutiny. No public response. No accountability to the public at all. It is really that simple in the minds of these puppetmasters, isn't it?

You simply tell the public that there are laws. But you get to change them whenever it suits you - and that's ALL OF THE TIME! They (the public) do not get to ask the questions nor be informed of the process because YOU GET TO SHOVE IT DOWN THEIR THROATS! If you (the public) don't like it (accept it), you run the real risk of being dragged in for interrogation or worse.

You make the numbers what you want them to be. If the real ones are convicting (rather than convincing) - just change them. Who's to know? The public is NOT ALLOWED to ask. Ask and you disappear.

That's our world. And we are NOT happy in it. We want democracy and we want it NOW in the form of elections and NOT another three years off. What this regime couldn't accomplish in five and a half years needs to be recognized as a MISSION UNACCOMPLISHED! Let the professionals do it. You are military and SHOULD WELL KNOW your limitations!

There isn't a soldier in the world that thinks his job description is to run the government. His job is to protect his country against outside invasion.

Cut your losses (oh!, I mean riches) and run! John Galt

Anonymous said...

The original John Galt was good. You two pretenders are hopeless.
You two should get new names. One should be called Danny Vuaka and the second JG should now call yourself Danny Maina.
To the original JG, I've connected the dots and now I'm off to bed. G'dnite!

Anonymous said...

Fiji Regime Taking Away Fijian Workers Rights To Unionise

Press Release – New Zealand Council of Trade Unions

The CTU is deeply concerned by reports from Fiji of a Decree that gives absolute power to the Military Regime and to companies deemed “critical corporations” and takes away rights of freedom of association and collective bargaining from Fijian …Undemocratic government taking away Fijian workers rights to unionise

The CTU is deeply concerned by reports from Fiji of a Decree that gives absolute power to the Military Regime and to companies deemed “critical corporations” and takes away rights of freedom of association and collective bargaining from Fijian workers.

While details are murky, reports suggest that the Decree will remove the rights of Fijians to vote freely for their own union representatives. The Decree will stop elected union representatives holding union member elected offices, unless the government regulation approves. The Decree is also said to allow for the government and corporations to set wages and conditions, removing the right for Fijian workers to collectively bargain.

Richard Wagstaff, CTU Vice President said “We deplore this move by an unelected, and undemocratic government. We’ve heard that the Decree is being issued under the pretext of “continued viability and sustainability of critical national industries” and “avoidance of interruption”, we see it as just another way to marginalise the voice of working Fijians.”

“We’ve heard reports that the corporations have been deeply involved in the drafting of this Decree, while the unions have been left on the sideline. It’s a disgrace that corporations have been allowed this much power to effectively render the fundamental labour rights, and current terms and conditions of employment of Fijian workers meaningless” said Wagstaff.

The CTU is seeking further information on the Decree.

Content Sourced from scoop.co.nz

Anonymous said...

RE: Anon @ 7:29 AM

To bed at 7:29 AM? Must work nights. I'm happy to know you are connecting the dots, as well all must. Very frustrating to try to communicate when I have a loser that wants to impersonate.

John Galt is a fictional character in the best selling classic, "Atlas Shrugged," by Ayn Rand. He represents an idealogy. Private enterprise and innovention is what creates wealth in any country. Have the government stick their nose in it and everything begins to get clogged up and break down.

Fiji is witnessing it now with an illegal government that wants to seize all control for itself at the expense of its people.

In the novel, a select group of inventors and creators find they cannot beat the system (government) so they walk away and begin again from scratch in a new world that they, themselves, have created and built. It is a world in which there is a negotiable price for services or products obtained. The price is always fair because all involved understand that the economy must dictate the terms - not the other way around.

In Fiji, we are being held hostage (like the populace in the book) and being told that all that is being done to us is for our own good. No, it's not. It's for THEIR good and our demise.

Both, ( Ficticious America and our Fiji)in the end collapse. Only the people who created the economy and true innovation that made the country great to begin with - can walk away with nothing but their skill and talent and successfully regain all that was lost.

Look for a new tag but I expect that the loser will try to latch on that one too. I can re-invent myself. He can't. But he can follow and copy. For the last time - John Galt

Anonymous said...

FNPF is bankrupt like the FSC

Job well done by no school junta dictator

Anonymous said...

The rot started when Qarase & company started their Govt loans form the FNPF and few made a hue & cry about it. Qarase was smart he didn't want his credit rating overseas to not look to cool so the best thing was to raid the money belonging to the workers! Kill 2 birds with one stone, keep you credit rating overseas looking good at the same time, have the funds to carry on your political ambitions. Pity the poor peoples money was getting "stolen" right under their noses.

Anonymous said...

Hey John Galt. I must read that book. You are right, Private Enterprise is essential for any economy.
Don't worry about the losers trying to immitate you.
We can tell.
They say that "Immitation is the highest form of flattery". So you must be doing something right.

Keep blogging!


-Valataka na Dina.

Anonymous said...

Anon 1038 FNPF funds were used by previous governments (SDL in particular) to generate economic growth (so they said), instead some lined their pockets and bought themselves multiple houses (and are now losing them). Momi, Natadola, Bligh Water Shipping, Malthouse are all real deal examples. The way forward is, save all the money you can, invest it in life insurance, stock etc etc. Start with the $10s to get the $100s and then the $1000s. Ever FJ.

Anonymous said...

oh gosh is this for real