The campervan company, Tourism Holdings, says it doesn't expect the North Canterbury earthquake to have any material impact on its tourism business in either the near or long-term.
A government package to help small businesses affected by Monday's earthquake will help according to one of the groups administering it , Enterprise North Canterbury, which has been through it before.
Christchurch's leading business group is criticising city council plans to slow down its earthquake rebuild programme. Conan Young reports.
Kaikoura and Wellington businesses operating adjacent to quake damaged buildings may face disruption for years to come as owners drag their feet on repair or demolition work. A Christchurch property owner has been unable to completely re-open for business since the February 2011 earthquake.
Insurance company Tower says yesterday's earthquake in North Canterbury will cost it a maximum of just over seven million dollars.
The insurance company, Tower, is confident that putting its costly and complex outstanding Canterbury earthquake claims into a separate company will allow the rest of the group to flourish.
The insurance company, Tower, has strongly criticised the time it's taking to settle Canterbury earthquake claims and says the insurance system for handling such disasters is broken.
Shares in the insurance company, Tower, have plunged close to 20 percent today after it said its profits will likely fall more than 16-million dollars because of Canterbury earthquake claims.
Divine Cakes in Christchurch has had a tough past five years building up again after the 2011 earthquakes.
The cost of building a home in New Zealand's main cities has risen by 20 per cent since the Canterbury earthquakes.
Listed general insurance company Tower has reported a bigger first half loss on lingering Canterbury earthquake claims and a write down in its computer systrems.
Christchurch businesses are calling on the council to keep the New Brighton pier open while earthquake repairs are completed.
We examine the role of business interruption insurance in business recovery following the Christchurch earthquake in 2011 in the short- and medium-term. In the short-term analysis, we ask whether insurance increases the likelihood of business survival in the aftermath of a disaster. We find only weak evidence that those firms that had incurred damage, but were covered by business interruption insurance, had higher likelihood of survival post-quake compared with those firms that did not have insurance. This absence of evidence may reflect the high degree of uncertainty in the months following the 2011 earthquake and the multiplicity of severe aftershocks. For the medium-term, our results show a more explicit role for insurance in the aftermath of a disaster. Firms with business interruption insurance have a higher probability of increasing productivity and improved performance following a catastrophe. Furthermore, our results show that those organisations that receive prompt and full payments of their claims have a better recovery, in terms of profitability and a subjective ‘”better off” measure’ than those that had protracted or inadequate claim payments (less than 80% of the claim paid within 2.5 years). Interestingly, the latter group does worse than those organisations that had damage but no insurance coverage. This analysis strongly indicates the importance not only of good insurance coverage, but of an insurance system that also delivers prompt claim payments. As a first paper attempting to empirically identify a causal effect of insurance on business recovery, we also emphasize some caveats to our analysis.
This report provides an understanding of the nature of Canterbury subcontracting businesses operating in the space of earthquake reconstruction in Christchurch. It offers an in-depth look at the factors that influence the development of their capacity and capability to withstand the impact of volatile economic cycles, including the 2008 global financial crisis and the subsequent 2010/11 Canterbury earthquakes. There have been significant changes to the business models of the 13 subcontracting businesses studied since the earthquakes. These changes can be seen in the ways the case study subcontractors have adapted to cope with the changing demands that the rebuild posed. Apart from the magnitude of reconstruction works and new developments that directly affect the capacity of subcontracting businesses in Canterbury, case studies found that subcontractors’ capacity and capability to meet the demand varies and is influenced by the: subcontractors’ own unique characteristics, which are often shaped by changing circumstances in a dynamic and uncertain recovery process; and internal factors in relation to the company’s goal and employees’ needs
Christchurch businesses are calling on the council to keep the New Brighton pier open while earthquake repairs are completed.
A video of a presentation by Amanda Cropp, Christchurch Business Bureau Chief for Fairfax Media, at the 2016 Seismics in the City Conference. The presentation is titled, "The Role of the Fourth Estate in the Post-Quake Era".
A video of a presentation by Antony Gough, New Zealand property developer, during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
A video of a presentation by Peter Townsend, CEO of the Canterbury Employers' Chamber of Commerce, during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
A video of André Lovatt, Chair of Regenerate Christchurch, Hugh Cowan, General Manager of Reinsurance, Research and Education at EQC, and developer Antony Gough responding to questions from the floor during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
Academics have done some number crunching and decided where 10, 000 words sit on a happiness index. What the Panelists Tim Watkin and Selwyn Manning have been thinking about. Ros Rowe of the Leg Up Trust talks about funding cuts which are affecting her horse therapy business which helps disadvantaged young people. The Cathedral has been in a state of limbo since the Christchurch earthquakes. Now roosting pigeons are adding to the damage. Are you keen on the Pokemon Go craze? Pakistani social media celebrity Qandeel Baloch has been killed by her brother in a so-called honour killing.
A video of a presentation by André Lovatt, Chair of Regenerate Christchurch, during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
A video of a presentation by Hugh Cowan, General Manager of Reinsurance, Research and Education at EQC, during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
A video of a presentation by Hon. Lianne Dalziel, Mayor of Christchurch, during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
A video of a presentation by Hon. Nicky Wagner, Associate Minister for Canterbury Earthquake Recovery, during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
A video of Hon. Nicky Wagner, Associate Minister for Canterbury Earthquake Recovery, Hon. Lianne Dalziel, Mayor of Christchurch, and Peter Townsend, CEO of the Canterbury Employers' Chamber of Commerce, responding to questions from the floor during a panel at the 2016 Seismics in the City Conference. The panel has three themes:A City on the Move: Collaboration and Regeneration: "'Christchurch is now moving rapidly from the recovery phase into a regeneration stage with Central and Local Government working with the wider community, including the business community to ensure we get optimal outcomes for greater Christchurch' (CECC)."Looking Back: Remembering and Learning: "What are the milestones? What are the millstones? What have we learnt? What have we applied?"Looking Forward: Visioning and Building: "What do we aspire to? What are the roadblocks? What is the way forward?"
This thesis explores how social entrepreneurship develops following a crisis. A review of literature finds that despite more than 15 years of academic attention, a common definition of social entrepreneurship remains elusive, with the field lacking the unified framework to set it apart as a specialised field of study. There are a variety of different conceptualisations of how social entrepreneurship works, and what it aims to achieve. The New Zealand context for social entrepreneurship is explored, finding that it receives little attention from the government and education sectors, despite its enormous potential. A lack of readily available information on social entrepreneurship leads most studies to investigate it as a phenomenon, and given the unique context of this research, it follows suit. Following from several authors’ recommendations that social entrepreneurship be subjected to further exploration, this is an exploratory, inductive study. A multiple case study is used to explore how social entrepreneurship develops following a natural disaster, using the example of the February 2011 earthquake in Christchurch, New Zealand. With little existing theory in this research area, this method is used to provide interesting examples of how the natural disaster, recognised as a crisis, can lead to business formation. Findings revealed the crisis initially triggered an altruistic response from social entrepreneurs, leading them to develop newly highlighted opportunities that were related to fields in which they had existing skills and expertise. In the process of developing these opportunities, initial altruistic motivations faded, with a new focus on the pursuit of a social mission and aims for survival and growth. The social missions addressed broad issues, and while they did address the crisis to differing extents, they were not confined to addressing its consequences. A framework is presented to explain how social entrepreneurship functions, once triggered in response to crisis. This framework supports existing literature that depicts social entrepreneurship as a continuous process, and illustrates the effects of a crisis as the catalyst for social business formation. In the aftermath of a crisis, when resources are likely to be scarce, social entrepreneurs play a significant role in the recovery process and their contributions should be highly valued both by government and relevant disaster response bodies. Policies that support social entrepreneurs and their ventures should be considered in the same way as commercial ventures.
A dramatic consequence of the Christchurch, New Zealand, earthquakes of 2010 and 2011 was the widespread liquefaction in the city. Part of the central business district (CBD) was badly affected by liquefaction but elsewhere large volumes of ejecta were not evident for those parts of the CBD where the upper layers in the soil profile are sandy gravel and gravelly sand. The purpose of the paper is to investigate the effect of the gravel permeability on the rise and dissipation of excess pore water pressure during cyclic loading of a soil profile idealised from Christchurch data. The Cyclic1D software, which performs one-dimensional non-linear effective stress site response analysis, was used. Permeability values associated with gravel were found to suppress the cyclic accumulation of excess pore water pressure in gravel layers. Given that there has not been any systematic measurement of the in situ permeability of the gravels in Christchurch, the modelling in the paper suggests that likely values for the bulk permeability of the gravel layers are within the range suggested in the geotechnical literature. However, the work reported is of wider application than Christchurch and emphasises the controlling influence of permeability on the accumulation and dissipation of cyclic pore pressures. VoR - Version of Record
ANDREW LITTLE to the Prime Minister: Does he stand by his statement, "There's actually quite legitimate business in New Zealand for servicing foreign trusts"? JAMES SHAW to the Prime Minister: Does he stand by all his statements? ALASTAIR SCOTT to the Minister of Finance: What recent reports has he received on the state of the Crown accounts ahead of Budget 2016? RON MARK to the Prime Minister: Does he stand by all his statements? ALFRED NGARO to the Minister for Social Housing: What support will Budget 2016 provide for people in need of emergency housing? Hon ANNETTE KING to the Minister of Health: What is the total amount of efficiencies since 2011/12 made by the 20 district health boards and how much have they made for the February year to date? JULIE ANNE GENTER to the Minister of Revenue: Does he stand by his statement, "these are the facts: there is no tax avoidance or evasion in New Zealand in respect of foreign trusts … There is no wealth hidden in New Zealand with these foreign trusts"? MAUREEN PUGH to the Minister for Communications: What recent announcements has she made on progress of the Government's Ultra-Fast Broadband programme? GRANT ROBERTSON to the Minister of Finance: Does he stand by his statement made in Budget 2015 that "the unemployment rate is expected to fall below 5% in 2016"? BARBARA KURIGER to the Minister of Education: What recent announcements has she made on Communities of Learning? Dr MEGAN WOODS to the Minister responsible for the Earthquake Commission: Has EQC's position that it will reinstate earthquake damage to a condition substantially the same as "when new" been applied to every home repaired in the Canterbury Home Repair Programme; if so, why does the EQC customer guide state that customers' homes will be returned to a "pre-earthquake state"? MAHESH BINDRA to the Minister of Corrections: Does she have confidence in the Department of Corrections' ability to keep both staff and prisoners safe?
NUK KORAKO to the Minister of Finance: How does New Zealand’s growing economy and the Government’s commitment to responsible fiscal management mean New Zealand is well-placed to respond to the Kaikōura earthquake? ANDREW LITTLE to the Prime Minister: Has he spoken to relevant Ministers about the lessons learned from the Canterbury earthquakes to ensure people affected by the recent earthquakes have an easier and faster recovery? STUART SMITH to the Minister of Civil Defence: What update can he provide about the Government’s response to the Kaikōura earthquake? RON MARK to the Prime Minister: Can he update the House on the situation in quake-affected areas in the South Island? JAMES SHAW to the Prime Minister: Is he committed to all his Government’s policies? Hon ANNETTE KING to the Minister of Health: Does he stand by his statement that following the Valentine’s Day earthquake this year in Canterbury, “it was timely to review whether any additional mental health and wellbeing support was needed”; if so, will he consider reviewing whether any additional support is needed for Canterbury and Nelson-Marlborough district health boards as a result of the recent earthquakes? JACQUI DEAN to the Minister of Transport: What updates has he received on damage to transport infrastructure following the Kaikōura earthquake? JAN LOGIE to the Minister for Workplace Relations and Safety: What is his response to yesterday’s call from members of the Joint Working Group on Pay Equity Principles for the Government to “immediately right this historic wrong and implement the JWG principles”? JACINDA ARDERN to the Minister for Economic Development: When is he likely to announce a recovery or support package for small businesses in earthquake-affected areas? KANWALJIT SINGH BAKSHI to the Minister of Police: What are New Zealand Police doing to support the Kaikōura community? CHRIS HIPKINS to the Minister of Education: When did she first discuss the potential impact of Monday’s 7.5 earthquake on NCEA and Scholarship exams with the New Zealand Qualifications Authority? IAN McKELVIE to the Minister for Primary Industries: What recent reports has he received on the impact of the recent earthquakes on the primary sector?
The Canterbury earthquakes in 2010 and 2011 had a significant impact on landlords and tenants of commercial buildings in the city of Christchurch. The devastation wrought on the city was so severe that in an unprecedented response to this disaster a cordon was erected around the central business district for nearly two and half years while demolition, repairs and rebuilding took place. Despite the destruction, not all buildings were damaged. Many could have been occupied and used immediately if they had not been within the cordoned area. Others had only minor damage but repairs to them could not be commenced, let alone completed, owing to restrictions on access caused by the cordon. Tenants were faced with a major problem in that they could not access their buildings and it was likely to be a long time before they would be allowed access again. The other problem was uncertainty about the legal position as neither the standard form leases in use, nor any statute, provided for issues arising from an inaccessible building. The parties were therefore uncertain about their legal rights and obligations in this situation. Landlords and tenants were unsure whether tenants were required to pay rent for a building that could not be accessed or whether they could terminate their leases on the basis that the building was inaccessible. This thesis looks at whether the common law doctrine of frustration could apply to leases in these circumstances, where the lease had made no provision. It analyses the history of the doctrine and how it applies to a lease, the standard form leases in use at the time of the earthquakes and the unexpected and extraordinary nature of the earthquakes. It then reports on the findings of the qualitative empirical research undertaken to look at the experiences of landlords and tenants after the earthquakes. It is argued that the circumstances of landlords and tenants met the test for the doctrine of frustration. Therefore, the doctrine could have applied to leases to enable the parties to terminate them. It concludes with a suggestion for reform in the form of a new Act to govern the special relationship between commercial landlords and tenants, similar to legislation already in place covering other types of relationships like those in residential tenancies and employment. Such legislation could provide dispute resolution services to enable landlords and tenants to have access to justice to determine their legal rights at all times, and in particular, in times of crisis.