The 1st Day of Spring.....

......and it was one of the best days we have had, brilliant sunshine with some warmth.

However, as spring heralds the hope of warmer days, sadly this is not the case for many people in the South Canterbury area and further afield as well.

Our local company, South Canterbury Finance, had its first full day in receivership - this was announced yesterday & shocked and saddened everybody. I certainly know how I & my work friends felt when we heard it.

What this is for the South Island, (and infact New Zealand) when put into context, is a bigger loss for New Zealand than the Lehmann Bros collapse in America.

That is scary for Timaru, a population of only 27,000, as this hits the mainly farming area and the flow on effect that will follow.

All investments are under a Government Guarantee, which is great, but it is the "Mums & Dads" that have borrowed money & may have to sellup their farms/businesses which is a greater concern.

A sad day indeed