The CEO of the Canterbury Employers Chamber of Commerce has regularly been in the media over the past three years talking up the government's rebuild plans.
In October last year, for example, he declared that the rebuild was officially underway and that 'he could smell the money'.
His comments were later endorsed by the editor of The Press, Joanna Norris. In a opinion piece published in March this year she wrote:
Developers are pushing ahead with a flamboyance and ballsiness that is to be admired. Our city is booming. As Peter Townsend, told The Press in October: "You can smell the money."
But - hold on, folks - Townsend has now changed his tune.
At the annual meeting of the Canterbury Employers Chambers of Commerce this month, he declared that, in fact, 'the recovery process has only just started'.