Gee as a shareholder I feel its too much mind you I would say that not being a National voter!
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I don't think any company or union should make a donation to a political party. I would not have voted for it to be made and would have liked my share of it to be added to my dividend instead.
Perhaps there should be a system of public funding for political parties?
No - not ok (if its true)
Complete waste of shareholders money and a bad practice (even worse if felt they needed to bribe a government)
Shareholders can decide as individuals if they want to make political donations - not seeing Heartland deciding for them.
Disappointed in Heartland if they are making political donations - to me devalues t good work they do for the community (even if part of the advertising / marketing budget)
Is it because of the Heartland farming association and Nats having traditionally supported that sector?
I wonder if , shareholders who respect and admire the directors and management - presumably this includes most of them - should just have faith that this is a good decision and money well spent , despite the opaqueness of its cost/benefit analysis.
Have there been any political decisions recently affecting HBL?
But yeh not that keen on political donations myself
Interesting from Heartland Code of Conduct -
Heartland's employees will not, without the prior written permission of Heartland, support a political party other than in a personal capacity
Don't know what it means but interesting.
I do note that the good work that Heartland do for the community is channeled through the Heartland Trust that owns 6 million odd Heartland shares (probably a carry over from their building society days?)
All that seems transparent
But Heartland Bank making political donations - that's anther story
If the directors feel so passionately about donating to a political party they should dig into their own pockets. Oh wait, much easier to dig into someone else's pocket.
Apart from contradicting the code of conduct and taking earnings from the pockets of shareholders (!), did Heartland also donate to the other parties?
Sucking up to National with a donation bribe presumably to garner favour in obtaining subsequent audience and influence with the government to-be, seems shortsighted should the government change and the alternate party who achieved government would be miffed that Heartland felt that way and shut the door to future discussion.
Doesn't seem to be a very well thought out decision does it. Break the code of conduct, annoy the shareholders, back the wrong party and possibly be caught outside of any government influence.
Sir Geoff is backing the wrong horse.
As a Labour shareholder(well I'm not a Labour fanboy but if I were) how would one go about showing disapproval of this behavior?
My first thought is to turn up at his office with a bag of naughty toys and have at him, ala Joyce.
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Shareholders have a choice.If they do not like something directors/management do,they can sell their shares.
Couldn't be easier.
Myself,being a non-polictical person,could not care less whether any companies I invest with, make a polictical donation,or to whatever party.I see it as small beer,and most probably done for the best interests of the company.