KEY POINTS:
The Business Herald team awards its brickbats and bouquets for the 2008 business year.
THE MAHE DRYSDALE AWARD FOR DETERMINATION
The Canada Pension Plan Investment Board for its mule-like stubborness in pursuit of a part of Auckland International Airport.
THE FELTEX AWARD FOR PULLING THE RUG
Michael Cullen for scuppering the airport deal with a last-minute tax rule change. When that didn't deter willing sellers, he ensured the "strategic" land couldn't be sold anyway.
THE 'WHO WAS THAT MASKED MAN?' AWARD
Alan Bollard - entering the phone booth as Mr Mild and emerging as Superbanker, ready to slash rates and excoriate profiteers in a single bound.
MOST HYPER HYPERBOLE AWARD
Shareholders Association head Bruce Sheppard, for describing Hanover investors as "old dumb wits" and "stupid lunatics". It was particularly deft, in light of the silver-haired nature of his association's membership.
THE WILLIE APIATA AWARD FOR COOLNESS UNDER FIRE
Solid Energy chairman Don Elder for wrestling a bag of coal from a Santa-suited protester while dodging a custard pie at the company's public meeting in Auckland.
THE TAB AWARD FOR TAKING A PUNT
Now former Energy Minister David Parker, who said power generators were like farmers - their fate was dictated by the weather. The rain came, but too late for some businesses priced out of production.
THE KEEPING YOUR HEAD DOWN WHILE EVERYONE ELSE IS GETTING THEIRS SHOT AT AWARD
Eric Watson - Conspicuously absent as Hanover co-owner Mark Hotchin and management took the flak from investors.
THE RED ARMY AWARD FOR SCORCHING THE EARTH
The Previous Government - nine years of budget deficits, ACC blowouts, health board infrastructure deficits ... good luck, John.
MISPLACED FAITH IN HIGH PLACES AWARD
US Treasury Secretary Henry Paulson, who in November opined: "I believe the banking system has been stabilised. No one is asking themselves any more, is there some major institution that might fail and that we would not be able to do anything about it?" Soon afterwards, Citigroup put up its hand to be rescued.
UTTERLY UNFOUNDED OPTIMISM AWARD
Blue Chip spokesman Jonathan Knox, for this January prognostication: "... with refined product offerings and new systems in place 2008 looks like being a great year".
WORST NAME OF THE YEAR
Bear Stearns. What is an investment bank doing with the word bear in its name? Bull Stearns might have had a hope.
THE PR101 AWARD FOR FORESIGHT
Vector chairman Michael Stiassny, for dropping plans for a directors' fee increase before the company's annual meeting.
THE HINDSIGHT AWARD FOR THE SADDEST ADVERTISEMENT
Kevin Podmore, of St Laurence, talking up his own book in 2006 - "Who'd have thought? We did. One man, a second-hand desk and a few thousand to invest. Not the most glamorous beginning, but this man had the foresight and courage to aim high." Now, St Laurence can't pay its investors and Podmore doesn't look so smart.
