Tuesday, February 17, 2009

Lucia Fisher and Paykel bailout by NZ Government

Today I hear that John Key has pledged to bailout NZ manufacturing company, Fisher and Paykel should it need it.

"Yes they've got a short-term temporary funding issue which they're working through commercially with a number of alternatives, but I would be very concerned if a company of that nature ... was to go to the wall," he told TV3's Sunrise show.

Key said the Government needed to stay engaged with Fisher & Paykel as it was a "very unusual and unique" New Zealand company and important to the local economy.

"We don't want to be destroying the basis of New Zealand's manufacturing solely because there is a temporary credit crisis."


I think it's more than just a "temporary credit crisis". Ironically, my only just over one-year old Fisher and Paykel dishwasher broke 20 minutes ago. You see, all the stress of the opening action was directed to two points on the plastic panel strip at the top of the door. Both of these plastic points were attached by metal screws to the metal door on the inside of the dishwasher. So, the plastic at those two points just couldn't take the pressure anymore and broke when I pulled on the door. Most likely the only things stopping the whole panel from coming were all the wires in this area that directed the control information back to the dishwasher. Who ever designed this dishwasher did a really crap job of it if they expected today's plastic to last very long at all.

The dishwasher actually still works as none of the wires were pulled out when the panel came off, but I'm not sure I'm going to be able to open it again when it's finished washing my current load of dishes (there was no way I was unloading the dishwasher and washing by hand, unless it was really broken). Maybe levering it open with screwdriver might do it...

So, not very happy with Fisher and Paykel right now. Nor am I buying another Fisher and Paykel dishwasher to replace it if part of their design is to put cheap plastic into major stress areas such as the door and expect the damn thing to last.

Maybe John Key's dishwasher is a Miele, so hasn't noticed that Fisher and Paykel is cheap crap.

Related Link: Bailout talk could harm F&P prospects - export group

7 comment(s):

Sally said...

Really disappointing to read what John Key has said. What happens if for example PGGW, SFF and other companies need a bailout?

There will a bottomless pit which will only hurt the taxpayer and hurt goodness knows how many future generations.

Time for John to honour the Fiscal Responsibility Act.

New Zealand's experience under labour with the FRA was its failure to do more to impose adequate value-for-money disciplines on new and existing government spending.

Gooner said...

True Lucyna. I definitely agree with you that it is more than just a temporary blip on the radar screen.

libertyscott said...

Doesn't help that F&P enjoys a 5% tariff on its competition imported into NZ either.

KG said...

Bailing out F&P is just Socialism Lite.
As long as bankers and other businessmen are cushioned from the effects of poor decisions and corruption by taxpayer's money there will be no clean out of the under-performers, which is what's needed.

Adolf Fiinkensein said...

You people really do talk some unadulterated crap. John Key has made no commitments at all. Why don't you learn to read? At least to a level that would be acceptable at primary school.

Lucyna Maria said...

You're right, Adolf.

At this point no commitments have been made, just talk of the possibility of doing so. Who knows how close possibility and action are in politics - seems this gov't moves fast, and it's only a hop, skip and a jump to actual money.

But then maybe not.

Maybe our PM thinks that just his word alone will be enough to help F&P?

It's a pity really, as most of my whiteware is F&P and any brand loyalty I had has gone out the window with my now broken dishwasher.

greg said...

Yeah. Key hasn't committed to that at all. He might have a list including Nuplex, Fonterra, and Telecom if he went that way.

I know it's unpatriotic to rag on F&P but I recently bought a fridge freezer and a one of those eco-smart drive washing machines. The motor on the fridge is diabolically loud and the washing machine reports "help my load is out of balance" at least once a week and God help you if you sneak a non-sheet, a shirt for example, into a "sheet" load - talk about knot-hell.

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