Time to sell baubles we can't afford to keep  The front-page ODT
news of July 31 was a revelation of momentous proportions. "$8m
annual DCC shortfall" announces Mayor Dave Cull.  He proceeds to
accuse Cr Paul Hudson, who is also chairman of Dunedin City
Holdings Ltd (DCHL) of being less than forthcoming about the
council companies' financial situation, and is clearly pushing
for him to end his time on the board of directors.  Not so,
protests Cr Hudson, in turn, accusing the mayor of not keeping
up with company finances. Since then, one could become quite
confused by the heady fumes of "injured innocence".  Is this the
big day of reckoning or just a political storm in a teacup?
Personally, I would opt for the former.  It had to come, and the
only question is why it took so long. More importantly, what
can, or should be done?So what is the problem?  In a nutshell,
the Dunedin City Council has, in the past decade, spent up all
its available treasure, mortgaged the citizens' future and come
within an ace of bank