Bad Taste

Failure Can Be the Better Outcome

Some things leave a long-lingering sour taste in the mouth.  Taste is variable, and not not everyone's senses react similarly.  As the  old saying has it, one man's meat is another man's poison.  So, we do not expect that our fastidious dislike of  New Zealand pouring out cash to support  America's Cup challenges and defences will be shared by everyone.

To be clear, we do not find it noisome when some large, successful corporates throw in millions upon millions of dollars to support campaigns or defences of this Rich Man's Sport.  A corporate will make commercial decisions about the cost-benefits of advertising and brand exposure.  Ultimately they will decide whether the benefits justify the costs.  Eventually corporates will face the scrutiny not only of their respective boards of directors, but also, ultimately, their shareholders.

Two items hit the news yesterday.  Firstly, the New Zealand America's Cup syndicate leader returned home to announce that time was running short and that unless substantial multi-million dollops of the green stuff were contributed in short order, Team New Zealand would be skewered.
  Secondly, Grant Dalton stated darkly that if we (that is, New Zealand) failed to persist in its "investment" it would be over for good.  The barriers to entry some time in the future were just too high.  

To be clear, the money the New Zealand government has contributed on our behalf has long since been used up.  Millions upon millions can disappear so quickly down the gurgler in such a sport.  Now, apparently its up to the corporates to re-visit their advertising budgets to see if they can bestow (er, invest) a bit more.  However, the bitter after-taste of tax payers having had their money so egregiously  "invested" in the first place lingers on.

Once again we are forced to confront a sad truth seemingly never learned by our politicians, or, more sadly, the voting public.  It is an oxymoron that governments can pick winners.  It seems that politicians cannot help themselves.  They have all these squillions of dollars burning holes in their fetid, cavernous pockets.  They cannot help themselves getting some of it out to bestow upon those non-government causes which politicians think are going to be good for us.

Then the rationalisations follow.  Supporting the country's America's Cup campaign will be good for global brand-building.  It will provide promotional opportunities for tonnes of Kiwi businesses.  It will put not just put butter, but Vegemite on the bread of the poorest amongst us.  It will bring squillions of tourists to New Zealand.  Imagine the febrile activity down at the Viaduct Harbour if we won, and had to defend the thing down here.  Party time.  Wow.  Having a punt at the Cup has got to be worth some taxpayers' millions. 

The brutal reality is this: you (politicians) misused our money.  You wasted it.  You squandered it.  Instead of fulfilling the duties of a careful fiduciary, you have acted like corrupt boxing promoters. 

One reason we like the hard times is that governments are forced to restrain spending our money.  It helps prevent such bitter pills being produced in the first place, let alone swallowed.

To Grant Dalton's dire warning that if "we" fail to raise sufficient money for the next tilt at the windmill "we" will never get another chance, our response is, firstly, "So what?", followed by relief that maybe that lingering bitter taste will fade away for good.