Milk Price III

Water John

Henry in his day would have turned up and told them to stop their whinging.

whelan2

Mooooo wrote: »

It was that Talbot and bergin? Didn't turn up to a shareholder meeting I think

There was a funeral on I think. Some board members didnt go either afaik. A bit of a non story tbh.

jaymla627

whelan2 wrote: »

There was a funeral on I think. Some board members didnt go either afaik. A bit of a non story tbh.

If you where a shareholder at the meeting whatever the circumstances you would walk away fairly disillusioned, one of either Bergin/Talbot unless it was a relatives funeral which obviously wasn’t the case in both instances should of turned up

wrangler

jaymla627 wrote: »

If you where a shareholder at the meeting whatever the circumstances you would walk away fairly disillusioned, one of either Bergin/Talbot unless it was a relatives funeral which obviously wasn’t the case in both instances should of turned up

Really sickening, it reminds me of the messers that lost our money in the farmers factories.investments are doing well mainly and this crowd loses 50%, like wtf.
They'll have some headache when Brexit bites end of Oct, only 12 weeks now

jaymla627

wrangler wrote: »

Really sickening, it reminds me of the messers that lost our money in the farmers factories.investments are doing well mainly and this crowd loses 50%, like wtf.
They'll have some headache when Brexit bites end of Oct, only 12 weeks now

Their is a Aryzta style scenario that could easily play out with Glanbia, remember Bergin at meetings forecasting the collapse of certain co-ops due to paying to high a milk price a few years ago at meetings in 2016, will be a miracle if they hold milk price for July they need to claw back money somewhere and the lowly farmer will be a easy target

GrasstoMilk

jaymla627 wrote: »

If you where a shareholder at the meeting whatever the circumstances you would walk away fairly disillusioned, one of either Bergin/Talbot unless it was a relatives funeral which obviously wasn’t the case in both instances should of turned up

Siobhan had a family funeral and Jim had a hospital appointment as fas I know.

whelan2

GrasstoMilk wrote: »

Siobhan had a family funeral and Jim had a hospital appointment as fas I know.

Aye as much as I'm always giving out about them. They have their own lives too. It was an emergency meeting.

jaymla627

GrasstoMilk wrote: »

Siobhan had a family funeral and Jim had a hospital appointment as fas I know.

I’m sure he could of rearranged the hospital appointment ffs, he’s hardly a victim of the public health system on a waiting list....
If you where a stock-broker with a few million invested in glanbia pic shares you’d be pulling out I reckon on the back of the bosses going hiding

Mortelaro

jaymla627 wrote: »

Their is a Aryzta style scenario that could easily play out with Glanbia, remember Bergin at meetings forecasting the collapse of certain co-ops due to paying to high a milk price a few years ago at meetings in 2016, will be a miracle if they hold milk price for July they need to claw back money somewhere and the lowly farmer will be a easy target

Yerrah, its easier to gather up the few Bob with a couple of hundred random extra tbc fails a month whilst holding the base price, so my Uncle says anyway

jaymla627

Mortelaro wrote: »

Yerrah, its easier to gather up the few Bob with a couple of hundred random extra tbc fails a month whilst holding the base price, so my Uncle says anyway

Chatting a friend with Lakeland who got caught for 3k for June milk on a failed tbc taken on the last collection of month, with no other test done that month, fairly sneaky, and no way would they reduce it, when he argued re no other tests done that month that would of signaled a problem

whelan2

jaymla627 wrote: »

Chatting a friend with Lakeland who got caught for 3k for June milk on a failed tbc taken on the last collection of month, with no other test done that month, fairly sneaky, and no way would they reduce it, when he argued re no other tests done that month that would of signaled a problem

Did he get a test done on the first collection in July? I have been stung a few times like that but always ring or text the advisor straight away and get it struck out. There's always two sides to every story. No point leaving it until the milk cheque comes to query it.

Gawddawggonnit

Looking like Lactalis are going to pay 37cpl + vat for August milk...interesting.

* By my calculations that’s about 39cpl inc Irish vat?

Mortelaro

whelan2 wrote: »

Did he get a test done on the first collection in July? I have been stung a few times like that but always ring or text the advisor straight away and get it struck out. There's always two sides to every story. No point leaving it until the milk cheque comes to query it.

If you get no joy at that end and the processor unreasonably imposes the fine,then just take 3k spend away from their trading arm and save money buying elsewhere

As Hanibal Lecktor said..
Quid pro Quo Agent Starling
Quid pro Quo

GrasstoMilk

Mortelaro wrote: »

If you get no joy at that end and the processor unreasonably imposes the fine,then just take 3k spend away from their trading arm and save money buying elsewhere

As Hanibal Lecktor said..
Quid pro Quo Agent Starling
Quid pro Quo

You are still down 3k though. That could be a farmers wage for the month

Zeebsisgone654

Water John wrote: »

The proposal by Dairygold is that it be nonpublic, a private co. Larry could end up owning it.
You forgot about REOX but you'll never forget about it. The more one thinks about it, the dafter it looks, I think.

The proposal is that only dairy farmers and member coops could hold shares,no outsiders closed to corporate and non dairy farmers, on ceasing milk production you would be obliged to sell shares in Ornua, totally different management in DG now to reox era

alps

Zeebsisgone654 wrote: »

The proposal is that only dairy farmers and member coops could hold shares,no outsiders closed to corporate and non dairy farmers, on ceasing milk production you would be obliged to sell shares in Ornua, totally different management in DG now to reox era

CEO? CFO?

Be interesting to see the proposals...Is the ultimate proposal to hold shares relevant to your supply and derive a dividend, or 13th payment so to speak?

Water John

Culture of the Organisation is still the same. Themselves and Glanbia really have little time for their farmer/shareholders.

Zeebsisgone654

alps wrote: »

CEO? CFO?

Be interesting to see the proposals...Is the ultimate proposal to hold shares relevant to your supply and derive a dividend, or 13th payment so to speak?

I have seen the full proposal, will be an annual dividend, a farmer can sell his Ornua shares and keep supplying his coop obviously misses the dividend then , got full proposal from DG ceo as did all DG committee members, massive frustration that ornua is dysfunctional currently

Water John

Maybe the DG committee members should have been active when DG was dysfunctional.
Sorry but my gut feeling is DG chasing another easy money pot, which they will duly waste.
BTW have ICOS expressed any view on this?

Zeebsisgone654

Water John wrote: »

Maybe the DG committee members should have been active when DG was dysfunctional.
Sorry but my gut feeling is DG chasing another easy money pot, which they will duly waste.
BTW have ICOS expressed any view on this?

Sorry John, Dg hasn’t been dysfunctional since 09 . As far I know ICOS has been consulted after the initial proposal, remember these are just proposals

jaymla627

Zeebsisgone654 wrote: »

I have seen the full proposal, will be an annual dividend, a farmer can sell his Ornua shares and keep supplying his coop obviously misses the dividend then , got full proposal from DG ceo as did all DG committee members, massive frustration that ornua is dysfunctional currently

Who finances the money payable to a farmer if they sell their shares does the farmers co-op have to buy them our how does it work....
What kind of dividend on a c/l basis would be available yearly

lfc200

K.G. wrote: »

Yeah i suppose carbery only have the management with their hand out whereas kerry/glanbia also have shareholders hand s out.longstanding argument with them about how they apportion their profits within sectors but there s no denying where the jam is.to the best of my recollection carbery have the most employees relative to their milk supply of any coop in the country and would t be short of a bob either

Is it the co-op management or Carbery management?
Whatever Carbery or their subsidiaries are doing it seems to be working for them at the moment!

Zeebsisgone654

jaymla627 wrote: »

Who finances the money payable to a farmer if they sell their shares does the farmers co-op have to buy them our how does it work....
What kind of dividend on a c/l basis would be available yearly

Dividend will be fairly low , milk price will be prioritized, I could sell my shares to you for a price or vice versa , ornua wouldn’t be involved in setting the price share , members coop could purchase the members shares , our meeting was almost 3 weeks ago so I might be slightly inaccurate , its all just proposals, something has to be done as Ornua is not working currently in the best interest of dairy farmers .

alps

Zeebsisgone654 wrote: »

Ornua is not working currently in the best interest of dairy farmers .

In your presentation, who's best interests was it that it was suggested that Ornua are working for?

Is it the whole debacle with glanbia that is the issue being corrected, or will a changed ownership structure change change the modus operandi in some beneficial way?

Why give shares to suppliers?

Zeebsisgone654

alps wrote: »

In your presentation, who's best interests was it that it was suggested that Ornua are working for?

Is it the whole debacle with glanbia that is the issue being corrected, or will a changed ownership structure change change the modus operandi in some beneficial way?

Why give shares to suppliers?

Currently board members are made leave the board room if a conflict of interest is in play , this is a farce , a new independent board is proposed that would not include management or board members of the member coops

Buford T. Justice XIX

Zeebsisgone654 wrote: »

Dividend will be fairly low , milk price will be prioritized, I could sell my shares to you for a price or vice versa , ornua wouldn’t be involved in setting the price share , members coop could purchase the members shares , our meeting was almost 3 weeks ago so I might be slightly inaccurate , its all just proposals, something has to be done as Ornua is not working currently in the best interest of dairy farmers .

Probably not relevant to the presentation you were given but are there any plans outlined for dealing with members of Ornua who wouldn't be selling through Ornua?

I appreciate you may not be at liberty to answer that.

Zeebsisgone654

Buford T. Justice VI wrote: »

Probably not relevant to the presentation you were given but are there any plans outlined for dealing with members of Ornua who wouldn't be selling through Ornua?

I appreciate you may not be at liberty to answer that.

We didn’t get into that level of detail

Zeebsisgone654

Buford T. Justice VI wrote: »

Probably not relevant to the presentation you were given but are there any plans outlined for dealing with members of Ornua who wouldn't be selling through Ornua?

I appreciate you may not be at liberty to answer that.

34 ornua members presently I think, less than half process milk, every organisation would have representation under these proposals on a council that would oversee the board

Water John

Ornua under it's previous name had to contend with Kerry, being inside and outside the tent. Not a new problem.
If there is a problem then I would like all the stakeholders having a say initially in what is being discussed. The way, this is going DG are putting a proposal and so set the agenda.
I'm sure ICOS and it's international body would come up with a different formula.
May not be the right one either but I want a range of ideas, openly discussed.

Zeebsisgone654

Water John wrote: »

Ornua under it's previous name had to contend with Kerry, being inside and outside the tent. Not a new problem.
If there is a problem then I would like all the stakeholders having a say initially in what is being discussed. The way, this is going DG are putting a proposal and so set the agenda.
I'm sure ICOS and it's international body would come up with a different formula.
May not be the right one either but I want a range of ideas, openly discussed.

Nothing will happen for upwards of 18 months, there will be ample time to tease out solutions but one thing is for certain the board and its current dysfunction cannot carry on