Daily Archives: April 2, 2022

New Zealand will release more oil from its emergency stock to offset the global impact of Russia's invasion of Ukraine.

Energy and Resources Minister Megan Woods says a decision will be made next week on the size of the latest release. Photo: RNZ/Samuel Rillstone

Russia is the world's third-largest crude oil producer, and it has withheld supplies to Europe in response to sanctions over its war on Ukraine.

This morning, 31-member countries belonging to the International Energy Association (IEA) held a special meeting and decided to release more barrels of oil to offset the loss of Russian oil exports.

In a statement, Energy and Resources Minister Megan Woods said New Zealand had already contributed 369,000 barrels last month as part of the IEA's commitment to release 60 million barrels.

A decision would be made next week on the size of the latest release, Woods said.

"New Zealand's membership of the IEA requires it to hold stocks equivalent to at least 90 days of net oil and imports.

"New Zealand buys emergency reserve stocks that are held offshore as part of this obligation and help to manage potential disruptions in the oil market."

She said New Zealand was ready to play its part to help stabilise world energy markets.

"There has been a great deal of volatility in global oil markets since the invasion and this further action, coupled with the United States' move to release 180 million barrels of oil over the next six months, will help to provide some certainty to the market," Woods said.

See more here:

New Zealand will release more oil to contribute to global stock - RNZ

PM Jacinda Ardern was 'disappointed' with the move of the America's Cup offshore while Auckland Mayor Phil Goff revealed more details about what will happen to the former team base locations. Video / NZ Herald / Getty Images

OPINION:

Now that the America's Cup is off to Barcelona, the Government has a pile of cash burning a hole in its pocket and an opportunity to re-think how it can use elite sport as a brand ambassador for New Zealand.

The decision by Team New Zealand to reject the $99m ($31m in cash, the rest in kind) offer to host the America's Cup in Auckland has paved the way for a fundamental reset on not only what sort of events public funding is thrown at, but also who should be used to promote New Zealand to a global audience and what kind of image the country wants to project to the rest of the world.

For the Government to get its chequebook out and underwrite major events the consideration as to whether it's a sound investment has to go beyond the likely financial return.

These days the real value in hosting events is not in the dollars they pump into the local economy, but the impact they have on a country's brand value. Perception is indeed everything.

Big sporting events have become geo-political amphitheatres opportunities to sell a particular version of a country's identity to a mass audience.

China has used the Olympics to try to present itself as a dynamic, technological haven where the entrepreneurial spirit can flourish, while Vladimir Putin used the 2018 Football World Cup to present a softer, outward-facing Russia.

South Africa used the 1995 Rugby World Cup to show the world it had forgiven and at least partly healed and collectively had bought into a new future as the Rainbow Nation.

Be they cynical vehicles to hide a multitude of human rights abuses, create a misleading sense of global connection, or project a genuine portrayal of the qualities and values that a country feels best defines it, these high-profile events are incredible PR opportunities.

Investment in Team New Zealand would clearly have been in the latter category a legitimate and strong promotion of the innovative, technological excellence the country believes it possesses.

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The team is built on a value system of hard work, resilience and perseverance, best personified by Grant Dalton, whose clarity of vision, belligerence and will to succeed are universally admired.

There is no doubt Team New Zealand have a marketable narrative, but the harder question is whether it is the right one for the public purse to promote.

Team New Zealand is exclusively male and predominantly European Kiwi. The diversity which defines modern New Zealand is not represented by the crew and while Dalton's doggedness embodies the pioneering spirit on which the country was built, he's a rich white guy battling to give mega-rich white guys a few weeks of entertainment.

It has always felt like the Government is taking from the poor to give to the rich by supporting the America's Cup and trying to sell itself to the world as an adventure playground for billionaires.

The justification to use public funds to support the America's Cup has long been based on the economic returns, with the Ministry of Business, Innovation and Employment forecasting (pre-Covid) that the 2020 event would inject between $600m to $1billion into the national economy.

But an estimated $436m of that was going to come from servicing and re-fitting superyachts that would be drawn here by the event and New Zealanders have to ask whether they want their tax dollars to be used as bait to lure Russian oligarchs, robber barons and other shady figures to port so their vanity toys can be upgraded.

New Zealand already has a global reputation for being a safe investment haven for ill-gotten gains, its lax tax and trustee laws fingered in the Panama Papers as being attractive to those trying to conceal their wealth.

A Government willing to invest in an event that is essentially off-limits to women and those on lower incomes all in the hope it will lead to the super rich throwing some loose change about, sends a clear message that New Zealand is elitist and not fussy or particular about whom it does business.

The America's Cup, and by association Team New Zealand, have strong stories to back, but they are narrow, exclusive and privileged.

Investing in Team New Zealand would have been investing in division a win for the haves and yet another blow for the have-nots - and ultimately it would have presented the country as two-tiered.

Auckland not winning the America's Cup hosting rights is not an act of betrayal but a lucky escape and the Government now has the chance to redirect its $99m of earmarked sports event investment into a vehicle that will cast the country as the egalitarian, diverse, cosmopolitan centre of excellence so many believe it is.

And as fate would have it, there is a near perfect investment opportunity on the horizon.

At some point later this year, New Zealand Rugby will be looking to raise $100m from institutional investors and on every level it makes sense for the Government to buy-in and preferably do so on a scale that gives them a seat at the boardroom table where they can build a new, hands-on relationship with the sport.

Rugby has the egalitarian profile that better encapsulates the country. It's gender and ethnically diverse, pervades deeper into the New Zealand psyche and is a significantly more accessible participation sport than sailing because you need boots and a ball, rather than a boat and the means to get it to the ocean.

The All Blacks are arguably New Zealand's most respected and most loved brand both here and offshore.

They not only consistently win, but they do so with a quintessential Kiwiness: the big stars carrying a humility which speaks to the grounded nature of New Zealanders.

The Black Ferns, in their shorter history, have shown much the same qualities of excellence, innovation and determination, and the sense of fun and unity that the Sevens team is carving out for itself, is starting to resonate on the world stage.

Rugby better represents modern New Zealand and projects an image of unity and equality a country where background and upbringing are not barriers to success.

Even on a straight economic argument, a $100m investment in NZR's capital raise stacks as better business than pumping the same amount into the America's Cup.

A bet on rugby will provide annual multi-million dollar returns in perpetuity and it will be reputable money, no taint to it, no lingering whiff of Russia and dubiously acquired assets clinging to it.

If New Zealand wants to use sport to tell a story about itself to the rest of the world, then rugby feels like it has a better narrative than the America's Cup.

Continue reading here:

NZ's lucky escape: Why losing the America's Cup is a blessing in disguise - New Zealand Herald

Toyota Gazoo Racing New Zealand have confirmed that they will share theirFT60 race cars with W Series in the upcoming season. The junior formula categories will work together in getting 18 Toyota Racing Series cars to two of W Series FIA Formula 1 World Championshp supported Grand Prix weekends.

They will do this across two continents at the Circuit de Barcelona in Spain and the Suzuka Cicuit in Japan, to support the championships aim of sustainable racing.

During the Spanish and Japanese Grand Prix weekends, W Series will swap its F3 T318 chassis for FT60 cars, allowing more of W Series freight to be transported via sea during the 2022 season.

Toyota Gazoo Racing and W Series use the same Tatuus chassis, however the female single-seater championship uses an Autotecnica Motori engine whereas the New Zealand cars are powered by a Toyota engine. The 17 confirmed W Series racers will drive with the Toyota engine in Spain and Japan.

The FT60s will then be returned in November to be used for the open seater Castrol Toyota Racing season in 2023.

We actually started talking about our collaboration in early 2020, said Nicolas Caillol, TRS Category & Operations Manager.

With the pandemic cancelling W Series 2020 season and reducing the scale of the 2021 season, the arrangement was put on hold until now.

The main factors were freight logistics and costs for W Series and, with our cars not being used at that point of the year, it became apparent we would be able to help. We are currently in the process of having our 8AR Engine homologated by the FIA to enable our cars to compete in W Series.

We hope very much that it is a win-win for both championships. We are all in it together as junior formula series around the world and we are delighted to be able to help. Of course, wed love to see some of the drivers racing in W Series this year carry on their association with the FT60s and head down to NZ to compete in 2023!.

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Toyota Gazoo Racing New Zealand to Provide 18 Cars for Two W Series Races - The Checkered Flag

ACT party leader David Seymours demand that a referendum on Mori co-governance be a bottom line in any coalition agreement with the National Party was, if nothing else, well timed.

With the prime minister confirming public consultation on co-governance will begin this year, the place of te Tiriti o Waitangi (Treaty of Waitangi) in the nations life is front and centre once more.

Specifically, Seymour says successive governments interpretations of the English language version of te Tiriti which differs in important ways from the Mori text negotiated at Waitangi in 1840 is creating an ethno-state. He was later reported as saying:

[The government] believes there are two types of New Zealanders. Tangata whenua, who are here by right, and Tangata Tiriti who are lucky to be here.

ACTs referendum would ask voters to agree that the Treaty means:

all citizens of New Zealand have the same political rights and duties

all political authority comes from the people by democratic means including universal suffrage, regular and free elections with a secret ballot

New Zealand is a multi-ethnic liberal democracy where discrimination based on ethnicity is illegal.

Government ministers, the Mori Party and others have argued Seymours policy is itself divisive, and National Party leader Christopher Luxon has ruled out a referendum if he forms a government. But away from the electoral front line, important work on how te Tiriti can be applied at a policy level is already going on.

In 2020, we developed a policy evaluation method called Critical Tiriti Analysis (CTA) to address the problem of policy failure by ensuring distinctive Mori voices are heard. We recently explained these ideas to over 300 people at a public seminar.

CTA could be used by co-governance entities, but it doesnt require them. It is especially relevant at the policy evaluation level, and is being used in government departments and elsewhere to help give Mori people and their values and expectations a fair chance of influencing policy decisions.

Read more: The Crown is Mori too - citizenship, sovereignty and the Treaty of Waitangi

CTA uses five indicators to evaluate policy against te Tiritis main elements: the preamble, three written articles and the oral commitment to protect wairuatanga (an expression of custom, spirituality and psychological well-being):

The preamble creates an expectation of good government, so CTA asks how policy has been informed by substantive Mori values and expectations, and seeks evidence that Mori are equal or lead parties in the policy process

Article 1 granted the British Crown kwanatanga over non-Mori people in Aotearoa. CTA requires the demonstration of equitable Mori engagement or leadership in prioritising, resourcing, implementing and evaluating policy

Tino rangatiratanga was promised in Article 2, so CTA requires evidence of meaningful and expert Mori involvement in policy drafting, and measures the influence and authority of Mori values in the policy process

Article 3 of te Tiriti confers the right of Mori to actively engage in and influence policy development, implementation and evaluation. CTA involves evidence of Mori exercising their citizenship as Mori in policy development

And finally, in terms of wairuatanga, CTA seeks policy acknowledgement of the importance of wairua, rongo and wellness.

Read more: From Parihaka to He Puapua: its time Pkeh New Zealanders faced their personal connections to the past

In 2020 we used CTA to review the New Zealand Primary Healthcare Strategy. It has since been used to evaluate government policies and practices including cancer control plans and disability strategies.

In 2019, Cabinet published a Te Tiriti o Waitangi/Treaty of Waitangi Guidance which set out questions policy advisers should consider in their advice to ministers. Our CTA review of the guidance suggested te Tiriti might also require asking the following questions:

what contributions have Mori people and ideas made to the drafting of this advice?

what do Mori say are the issues to consider and their interests in this issue?

what evidence is there that this policy preserves Mori authority, peace and good order?

could this policy disadvantage Mori in ways that it does not disadvantage others?

why is the government (or local government) presuming to make this decision?

why does the decision not, in part or whole, belong to the sphere of tino rangatiratanga?

Ultimately, CTA could strengthen the pillars of liberal democracy, which developed precisely because people bring different values, experiences and aspirations to public life. Societies need to find fair and orderly ways of managing those differences. Suppressing them is not liberal and its not democratic.

When the ACT party formed a confidence and supply agreement to support a National minority government in 2010, the government agreed that New Zealand would accept the United Nations Declaration on the Rights of Indigenous Peoples.

Read more: Two inquiries find unfair treatment and healthcare for Mori. This is how we fix it

The declaration says treaties such as te Tiriti (the Mori text) should be honoured and that Indigenous democratic rights are no less important than anybody elses. It explains how culture, language and resource rights have implications for what freedom and equality actually mean.

However, democracy doesnt always meet these ideals. Mori have long been excluded from policy-making, leading to poor outcomes in areas like health.

CTA is intended as a mana-enhancing process based on the intent and actual wording of te Tiriti. This focus can help ensure government policies reflect Mori understandings, expectations and aspirations. Because if policy making doesnt reflect these things, Mori are not politically equal and thats not liberal or democratic.

Read more: Indigenous recognition is more than a Voice to Government - it's a matter of political equality

These are first steps. Further development of CTA would consider how policy processes could be strengthened and how examples of effective policy making may be replicated.

We particularly want to see an active presence of Mori and Mori values in policy processes. This reflects our belief that effective public policy requires robust, critically and culturally informed engagement with the diversity of Mori policy thought and aspirations.

The CTA rationale involves meaningful Mori input throughout but also calls for a final word from Mori in the overall policy evaluation process, which should carry considerable weight.

At the same time, CTA does not diminish anyone elses right to be well served by government policy. It doesnt interpret te Tiriti to make anyone else feel lucky to be here. But it does provide protections against some people using policy to cause harm to others.

Read the original post:

Putting te Tiriti at the centre of Aotearoa New Zealands public policy can strengthen democracy here's how - The Conversation

COLOMBO (News 1st); The High Commission of New Zealand in Sri Lanka has issued a notice with regard to the current economic situation.

Accordingly, the News Zealand High Commission has pointed out that as the economic situation continues to deteriorate, leading to shortages of basic necessities such as fuel and some food products, rationing of electricity has also resulted in lengthy power outages, which will likely continue for some time.

There have been a number of recent protests relating to the economic situation. A protest in Colombo yesterday resulted in a curfew being imposed. Further protests and demonstrations are anticipated in Colombo and other parts of Sri Lanka, including on Sunday (3).

Kiwis in Sri Lanka are advised to avoid protest sites and demonstrations, as even those intended to be peaceful have the potential to turn violent. NZers are also advised to monitor local media for developments and comply with instructions, including curfews, issued by local authorities, the High Commission said in a statement.

Moreover,New Zealanders in Sri Lanka have been encouraged to register at http://safetravel.govt.nz, and if consular assistance is needed, they have been urged to contact +94112174717 or email [emailprotected]

For emergency consular assistance please contact the 24/7 New Zealand consular assistance line on +6499202020, it added.

Read more from the original source:

New Zealand HC issues notice with regard to economic situation - Newsfirst.lk

On the streets of Kyiv, an ambulance emblazoned with a New Zealand flag is treating and transporting the war-wounded.

Paul Demyanov in front of his new ambulance and part of the NZ flag that has been painted on to it. Photo: Give-a-Little

It follows a campaign by Ukraine-born New Zealander doctor Olga Dubnytska, whose brother, Paul, is an ambulance driver in the Ukrainian capital city.

His old, clapped-out ambulance was not in good condition when the Russian invasion occurred and - just when it was badly needed to help the injured - it broke down.

Olga appealed to her fellow Kiwis for help to raise the $20,000 needed to replace the vehicle, starting a fundraiser on Givealittle.

In just over a week, she had raised more than enough to get Paul back on the road.

"I'm very excited and I would like to say from the bottom of my heart and [on] behalf of my brother ... a big thank you to each and every one for your generous donation," Olga said.

"We did it. We did make a difference. We have helped my brother ... to get a new functional ambulance and he's now in [his ambulance in] Kyiv with a New Zealand flag on the side [and it will] go with him everywhere."

Paul Demyanov and some colleagues before the old ambulance broke down. Photo: Give-a-Little

She said it meant the world to her brother.

"He was sitting at home ready to do something but couldn't, because he had no wheels. And now he has this brilliant car. I mean, I saw the photos and he's so excited - and he's already done his first on-call."

Speaking to First Up with his sister translating, Paul said he loved the new vehicle - a 2017 ambulance fully equipped with everything he needed, including an air conditioner - although he still has a bit of work to do getting the radio communications up-to-scratch.

He said he managed to source the New Zealand flag through an advertising company.

Paul sent a message through after speaking with First Up host Nathan Rarere: "I could not convey in the interview the emotions that fill me. I feel respect for the people of your country, you are wonderful people!

"I want to wish you a peaceful sky above your head!"

See original here:

Ukraine war: New Zealand donors pay for new ambulance to help treat injured - RNZ

What you need to know before heading back overseas, as borders around the world open up. Video / NZ Herald

Flights to popular destinations such as Sydney and Fiji are rapidly selling out as New Zealanders secure their long-awaited holidays, OEs and trips to see family and friends.

Demand is skyrocketing as New Zealand moves through a phased re-opening of the border and MIQ requirements are scrapped for most travellers and New Zealanders returning home.

While travel agents have reported being "overwhelmed" with bookings in recent weeks, a smaller pool of carriers has meant flights appear to be pricey and scarce this month.

House of Travel chief operating officer Brent Thomas said the outbound market had "come back with a vengeance" in the past four to six weeks, and demand is expected to continue as Kiwis start to plan winter getaways to warmer climates.

"There's been pent-up demand for two years. In fact, a lot of people haven't been able to travel for three to four years because they might have been planning in 2018 and 2019 to go in 2020 and those travels got curtailed."

Air New Zealand flights to Sydney this month are booking out fast and will set travellers back around $700. One flight on April 27 is priced at $1044. Prices drop to around $240 next month.

The websites states there are no seats available on any flights between April 11 and 16, or between April 22 and 26.

It's a similar story for Air New Zealand flights to Fiji - a destination proving to be "incredibly" popular among families, along with the Cook Islands, Thomas said.

Most dates in April are already booked out, and seats left are going for between $200 and $400.

"As those planes fill up, they're certainly not going to be shy in putting those prices up and what we need is competition, because ultimately competition will bring pricing back to what is more appropriate.

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"If we've only got one or two carriers, capacity gets filled quite quickly and they will yield margin on it."

Thomas said Europe and the UK are popular destinations as well.

"There's certainly going to be a significant number of people who will head overseas for their OE. Those people have had their plans derailed for the last two years so we'll definitely see a lot of young people heading overseas and traditionally that's to Australia and the UK."

But because of a lack of international carriers operating in New Zealand currently, there are limited flight and stopover options to the northern hemisphere at a reasonable price.

While Air New Zealand flights to London remain similar to pre-Covid prices (around $1100 to $1500), Singapore Airlines is charging about $1000 more, and Emirates is offering two stopovers instead of one.

Cheaper options such as Malaysia Airlines, Philippine Airlines and China Southern are nowhere to be seen.

There was an air capacity issue with a limited number of carriers coming into New Zealand currently, Thomas said, and more were not expected until later this year.

"Capacity is going to become an issue later this year, so if people are thinking of a holiday in the next six months they should start booking now.

"It does take some time for an airline to get a crew back on board, but Air New Zealand, Qantas, Jetstar will respond for short-haul travel to Australia and the islands as demand comes in.

"It will certainly increase as Australians can travel to New Zealand more freely."

Thomas said pre-departure and post-arrival testing had to be scrapped in order to save New Zealand's tourism and export demands.

"If New Zealand doesn't move away from that we will be left off the world scene for tourism and that's to the detriment of the tourism sector, but also from an exporting point of view.

"To bring [exporting] back in you need passengers coming back to make it viable for the carriers."

Tourists will choose to visit Australia instead, Thomas said, because pre-departure rapid antigen test are being scrapped on April 17.

"Minister Nash and the Prime Minister need to understand the value of tourism to New Zealand. It's about the ability to export as well, and we need those aircraft to come back."

He said testing requirements were prohibiting New Zealand's recovery.

Read the original post:

Demand 'back with a vengeance': Flights sell out as travel bug hits - New Zealand Herald

A visitor from 66 million years ago - the first Tyrannosaurus rex skeleton to be displayed in Aotearoa - will be on show at Tmaki Paenga Hira (Auckland War Memorial Museum) this month.

Peter the T rex is 47 percent complete by bone density. Photo: Supplied/ Auckland War Memorial Museum

Museum-goers will have the chance to stand up close to one of history's most notorious predators from 15 April.

The skeleton is from an adult T rex, and is set up in hunting position, 4m-high and 12m-long.

It is the first time this T rex skeleton has been displayed anywhere, and the first time real T rex fossils have been shown in New Zealand.

Museum spokesperson Timothy Hart said Peter met a grim end in life. His legs were gnawed on by something big.

"It looks like he was probably killed by another T rex, possibly a mother and a baby T rex, 'cause there's evidence of feeding from a large animal and a smaller animal, but still a T rex.

"[They] can tell from the spacing of the teeth. So it looks like together they finished him off."

Peter is one of about 32 adult T rex skeletons to ever be discovered.

The giant fossil is on display until 4 September, and alongside it the museum will run an immersive dinosaur performance, junior palaeontology programme and two other educational programmes on dinosaurs and fossils.

Peter the T rex was found in 2018 in a fossil-rich area called the Lance formation, near Wyoming in the western United States.

Tyrannosaurus rex lived between 66 and 67 million years ago, paleontologists said in a report prepared about Peter's skeleton.

That means his bones have been fossilised, and subject to tens of millions of years of erosion, compression and movement within the Rarth.

By bone density, Peter the T rex is 47 percent complete and is "one of the top 10 most complete T rex in the world," said Dr David Burnham of the University of Kansas, one of the report's authors.

"We are fortunate in having a significant number of Peter's largest bones, many of which are incredibly well-preserved."

Peter's skeleton has a distinct special feature - it has taken on a black colour from organic material that surrounded it as it lay in the Earth.

"Peter is an incredibly rare and visually stunning obsidian black in colour," said Dr John Nudds, of the University of Manchester, another of the report authors.

"Only four black T rex have ever been discovered."

Originally posted here:

Auckland to host New Zealand's first Tyrannosaurus rex - RNZ

Join the bird bonanza on Kapiti Island

Its not easy to spot wild kiwi. Stewart Island is your best bet but, if youre not heading that way, Kapiti Island a nature sanctuary and marine reserve accessible from Wellington is a good option. Visitor numbers are limited, giving Kapiti an exclusive feel. With a local guide, learn about the Maori, whove inhabited this island for centuries; kayak and snorkel the protected waters; and stay overnight in a safari tent, cabin or classic bach bungalow for the chance to see endemic birdlife including bellbirds, takahe, parakeets, weka and, perhaps, little spotted kiwi.

A 21-night Wildlife Encounters self-drive with Discover the World (01737 214250; discover-the-world.com), visiting Kapiti, costs from 4,077pp excluding flights.

New Zealand is a really long way to go. So make the most of all that travel by contrasting the country with the equally far-flung South Pacific. After hopping around the Bay of Islands, raising a glass or three of Hawkes Bays finest and going full-throttle in adventure capital Queenstown (try mountain biking, rafting and kayaking), jet to Laucala, a private Fijian island retreat where villas sit amid lush mountains, white sand and coconut palms, and the diving and snorkelling is out of this world.

A 14-night Ultimate New Zealand and Fiji tailor-made trip with Abercrombie & Kent (01242 547760; abercrombiekent.co.uk) costs from 27,995pp including flights.

Virgin Atlantic (0344 874 7747; virginatlantic.com) flies to Auckland from London via San Francisco on a codeshare from 981 return.

Air New Zealand (0800 028 4149; airnewzealand.co.uk) flies to Auckland from London via Singapore on a codeshare from 1,113 return.

Fully vaccinated adults and children under 17 will be able to visit from 23:59 on May 1 without needing to isolate on arrival. However, they will be required to take three Covid tests: one before departure (PCR, LAMP or rapid antigen), another rapid antigen test on arrival, and a third on day five or six.

More information here.

This article is kept updated with the latest information.

Read the original post:

20 reasons to visit New Zealand, now that we finally can - The Telegraph

Jared Leto and Anne Hathaway play Adam and Rebekah Neumann in the Apple TV+ series WeCrashed. Photo / Supplied

Originally published by The Spinoff

An Auckland branch of global co-working giant WeWork was announced with great fanfare. Its Auckland demise has unfolded quietly.

It was definitely happening. The biggest player in the global co-working office space market was coming. Major renovation plans for a prominent central Auckland building were announced on February 13, 2020. WeWork, a $47 billion Silicon Valley unicorn that has since become the subject of a best-selling book, a documentary, a podcast and an Apple TV+ show called WeCrashed, was 100 per cent planning on expanding into New Zealand.

New Zealand's first WeWork operation was set to take over eight floors of 131 Queen Street, a heritage building and the former site of department store Milne & Choyce, smack bang in the middle of Auckland. In conjunction with the building's owner Andrew Krukziener, and his company Krukziener Properties, WeWork's renovation plans would take about a year, eventually allowing 1,300 people pay up to $1,000 a month for a small spot to work in 8,400 square metres of office space.

For their money, WeWork customers would be given access to a desk, chair, wifi and reportedly all-you-can-drink kombucha. They were here for the long haul. A lease was signed for 10 years. WeWork Auckland was expected to open for business in mid-2021. Major publications including Stuff, NZ Herald and NBR covered the news. "Struggling US co-working firm WeWork launches in NZ," read RNZ's headline.

At the time, WeWork's Australia New Zealand general manager Balder Tol sounded buoyant. "We look at the vacancy rates and demand for real estate in general, and that shows a very healthy market in Auckland," he told RNZ. With WeWork offices in 37 countries, including 19 locations in Australia, the company was continuing with its grand expansion plans, despite eccentric founder Adam Neumann being forced out of his own company in 2019 with a $1.2b payout.

SoftBank, which came to WeWork's rescue in the wake of Neumann's departure, had approved the company's expansion into Auckland, Tol told RNZ. "Our performance on this side of the world is so strong so that we want to reinvest in the depth of those markets." He downplayed the negative headlines surrounding WeWork's failed IPO and its plummeting valuation. "What you have seen is sentiment around valuation and corporate governance, but not about the actual product and service that we deliver," he said.

Two years on from WeWork's lofty announcement, as the pandemic continues to send a wrecking ball through Auckland central and the co-working office market shrinks as more people work from home, WeWork's Auckland renovations haven't happened. Exactly when the company decided to pull the plug on Auckland isn't clear. But one thing's for certain: WeWork's not coming. No press release was issued about it.

Covid wasn't to blame, a WeWork spokesperson told The Spinoff. But they agreed the pandemic had fast-tracked the company's decision-making. "WeWork has continued to rationalise its global real estate portfolio as a part of the company's plan to achieve profitability," they said. "As part of this, WeWork has made the decision not to advance with a location in Auckland at this time." The Spinoff asked when the decision was made, but that question wasn't answered.

The news comes as WeWork's story is turned into a big-budget TV show starring A-list actors Anne Hathaway and Jared Leto for Apple TV+. It tells the rise of WeWork in all its glory, from its scrappy startup beginnings in New York to its rapid global expansion backed by big money investors, to be valued at $47b by 2019.

Neumann, played by Leto, is portrayed as an intense, personable and kooky salesman, abled by his wife Rebekah (Hathaway), who spouts nonsense yoga-babble that's turned into corporate rhetoric. It also follows its fall from grace, including staff abuse, financial misadventure and expanding corporate expenses, such as staff parties and private jets. Much of the detail, like Run DMC performing as Neumann fired staff, is accurate. (Lorde also performed for 8,000 WeWork staff at a retreat in 2018.)

More recently, WeWork has focused on making its current locations profitable and expanding options for existing members, including weekly, daily and hourly desk rates. It also launched Workplace, a platform that allows companies to manage their own office space and staff. That, says Marcelo Claure, executive chairman of WeWork and chief operating officer of SoftBank, has helped WeWork survive through Covid, with demand "higher than it was prior to the pandemic", he said, according to a report by NBC News.

Read the original:

The Spinoff: WeWork's New Zealand dreams have WeCrashed - New Zealand Herald