Milk Price- Please read Mod note in post #1

Buford T. Justice XIX · 11-06-2016 09:11PM

mahoney_j wrote: »

+1 as good a post ice read in a long time

mahoney_j wrote: »

Orchard thieves tipple of choice arm Kev !!!

How many have you had already:D

mahoney_j · 11-06-2016 09:32PM

Buford T. Justice V wrote: »

How many have you had already:D

Lost count after the first one !!!!!

OverRide · 13-06-2016 11:43AM

Just reading the letter about glanbia's gap scheme
They're borrowing 100 million using our shares (held in trust by them for us by the way) as collateral and 45 million of that is being put aside for the board to use for 'future general purposes ' - very vague wording
Looks like that 45 million can be peed up against the wind with no input from the members at the whim of the board

What on earth sort of Co Op are we running here?

Like I said before,why are they risking our shares,why aren't they leveraging future GiiL profits instead?
It's spun as Mar dhea 'all about the farmer ' but it's far from it

atlantic mist · 13-06-2016 01:41PM

OverRide wrote: »

Just reading the letter about glanbia's gap scheme
They're borrowing 100 million using our shares (held in trust by them for us by the way) as collateral and 45 million of that is being put aside for the board to use for 'future general purposes ' - very vague wording
Looks like that 45 million can be peed up against the wind with no input from the members at the whim of the board

What on earth sort of Co Op are we running here?

Like I said before,why are they risking our shares,why aren't they leveraging future GiiL profits instead?
It's spun as Mar dhea 'all about the farmer ' but it's far from it

They done same at spin out, who will pay back the amount they keep or are we giving up shares, well I'd b worried bout direction of coop, our chairman thinks his only job is to make sure we get paid at the end of the month, and they would want to do more than a diploma considering the clueless talk out of him, how did he get to top

jaymla627 · 13-06-2016 01:46PM

OverRide wrote: »

Just reading the letter about glanbia's gap scheme
They're borrowing 100 million using our shares (held in trust by them for us by the way) as collateral and 45 million of that is being put aside for the board to use for 'future general purposes ' - very vague wording
Looks like that 45 million can be peed up against the wind with no input from the members at the whim of the board

What on earth sort of Co Op are we running here?

Like I said before,why are they risking our shares,why aren't they leveraging future GiiL profits instead?
It's spun as Mar dhea 'all about the farmer ' but it's far from it

Have only the bare minimum number of shares here needed to get top-ups but for all the information they have given out,they haven't explained yet the conditions that would lead to the exchange being exercised, most striking line in this mornings letter was the Co-op retains full ownership of the 4.3 million shares unless the exchange is excercised

milkprofit · 13-06-2016 01:54PM

Farmer Ed wrote: »

That's what I was told by my accountant
Yes the probably may do things like go interest only on a loan for a limited period if things got really tough but with that will come an extra charge. One thing they will never do is refinance you with a loan ar a lower interest rate. At the end of the day they are trying to make money. If you thought about it logically if a farmer could remortgage the house and get money for 3%
A lot of guys are paying a lot more than that. But the banks wouldn't look as such a proposal

A saving of 2% on 100k is 2 k a year anyone paying 16% to the co op is being rightly screwed[/

What's the best interest avilable from banks

whelan2 · 13-06-2016 02:01PM

atlantic mist wrote: »

They done same at spin out, who will pay back the amount they keep or are we giving up shares, well I'd b worried bout direction of coop, our chairman thinks his only job is to make sure we get paid at the end of the month, and they would want to do more than a diploma considering the clueless talk out of him, how did he get to top

Because he's a yes man

kowtow · 13-06-2016 02:05PM

OverRide wrote: »

Just reading the letter about glanbia's gap scheme
They're borrowing 100 million using our shares (held in trust by them for us by the way) as collateral and 45 million of that is being put aside for the board to use for 'future general purposes ' - very vague wording

Are the plc shares held on a formal trust for the members?

OverRide · 13-06-2016 02:55PM

kowtow wrote: »

Are the plc shares held on a formal trust for the members?

It's a moral trust,immorally flouted with 45 million gambled on it as if it's pocket money
2c a litre being put up there as if it was wonderful when in reality, they know they're dropping it by at least another cent to trigger this(a cert now as it's all a cunning plan obviously) so it's worth fcek all as cash flow because milk is past its peak supply now and will drop more and more and farmers are only going to see 1 c whilst 2c up the line is flittered away and worse probably a whole tonne of our shares

You couldn't make this up
Well you could if you were a glanbia ceo

Water John · 13-06-2016 02:57PM

The sadder part is the praise they are getting for it. From the Minister down to Ag journalists.

OverRide · 13-06-2016 03:00PM

Water John wrote: »

The sadder part is the praise they are getting for it. From the Minister down to Ag journalists.

Oh you mean from people who haven't a clue about farming at the coal face? But know everything about cucumber sandwiches and white wine spritzers on a tray

atlantic mist · 13-06-2016 09:57PM

any manufacturing supplier get anything back on last fixed price scheme, looks like henry looked after his liquid milk suppliers with last fixed price scheme nothing on manufacturing..two tiered supply base led by the chairman....are they waiting for peak to drop?

Equity linked bond - this has me a bit confused they are raising 100m by putting up 4.3million plc shares at todays stock listed price of 16.99 thats 73million.....

why not just spin the shares out to the farmers(only a few shares so wouldnt benefit me), were spending millions on admin costs in coop and this money would be saved yearly if farmers had control of their shares and have supplier groups representing us

are the shares at risk through exercise option id imagine they are to some extent well hardly see the detail but who ever is financing the GAP wouldnt be doing it for nothing so may be interest free in one respect but well have to pay in another.

income volatility tool, think they are mis understanding the term, what they are providing is an interest free loan and to be repaid within 4 years, after just going through the process of getting loans at 3.75%, its all about piling debt on!!

kevthegaff · 14-06-2016 08:35AM

I'm glad I'm not with glanbia just to figure out spin outs, top ups, flex loans. No word on prices yet...

kevthegaff · 14-06-2016 08:37AM

When I read positive spin from these co ops I get a little worried..

whelan2 · 14-06-2016 08:40AM

If the ordinary farmer on here can see through these schemes why cant our highly educated farmer board members do the same ?

boggerman1 · 14-06-2016 09:38AM

There is no such thing as a free lunch and frombmy reading of this thread if I was a glanbia supplier I wouldn't touch this with a barge pole.would prefer to struggle on to pay the bills every month and give everyone a little bit.

greenfield21 · 14-06-2016 09:44AM

Lakeland cut by 1.5c. Sh! !!T.

Milked out · 14-06-2016 09:49AM

To what?

greenfield21 · 14-06-2016 09:53AM

23c base. is that 1c ornua payout only one month.

Water John · 14-06-2016 10:24AM

Whelan, I don't know whether you have your tongue in cheek when you say 'highly educated board members'. Most get the jobs because whatever their IQ, they don't question things very much.

As one DG director said recently on being asked about the low price, replied 'be positive, be positive'.

Was hoping prices would level out and increase slowly over the back end.
Let's see how it pans out over the week.
Agree with giving a clear base price and cut the crap.

mf240 · 14-06-2016 12:00PM

Any good business man/woman will know you "never waste a crisis "

atlantic mist · 14-06-2016 01:30PM

Well by availing of loan it's a huge cost to coop shareholders, the 100m equity will have to be paid back and possible figure of 130m that's based on 70% bond, will be what who ever is giving the equity bond to us will get back, all dependant on share price appreciation over time, it's interest free for supplier but is not interest free to coop shareholders talk about pissing money away I'd say management in Glanbia hav had it easy to fool these boards. Need to look at election system in Glanbia may be its time for a list system instead of these in educated yokes on our board, really can't believe commentary from chairman, he'd want to learn what his role is, it's a hard job to do don't get me wrong and not suited to someone who likes politics like our current lad it's about leading the company, who gets to elect our chairman is it one of these sub committees or do members decide

Water John · 14-06-2016 02:01PM

The members of any coop elect the Board of Directors, directly or indirectly via a management committee.
The Board elects the Chairman always. Problem also, it is often a noddy of management.
Classically, in companies and coops, there should be a positive tension between the Chairman and CEO. Too often, this relationship is too buddy buddy, and/or the CEO is dominant.
Chairman, needs to be very strong and knowledgeable.
In plain language take no s**t and it be known so.

boggerman1 · 14-06-2016 04:26PM

I see glanbia have cut the base to €0.20 with a top up off €0.02 plus €0.01 top up of ornua money.still corbally is saying it all great with the "free" money they giving out

kevthegaff · 14-06-2016 04:39PM

delaval wrote:

I would suggest posting your processors base inc Vat for comparison Post your Nett price for others to help or be helped I think that solids should be included. I suggest any seasonal/liquid contract price be excluded or seperated.

boggerman1 wrote:

I see glanbia have cut the base to â‚¬0.20 with a top up off â‚¬0.02 plus â‚¬0.01 top up of ornua money.still corbally is saying it all great with the "free" money they giving out

23c?

milkprofit · 14-06-2016 05:14PM

boggerman1 wrote: »

I see glanbia have cut the base to €0.20 with a top up off €0.02 plus €0.01 top up of ornua money.still corbally is saying it all great with the "free" money they giving out

there is no free money

How low can Glanbia GO ?????????? can they beat fontera

Henwin · 14-06-2016 05:19PM

any word on the milk price from kerry yet?

OverRide · 14-06-2016 05:37PM

kevthegaff wrote: »

23c?

As expected, dropped to 23 so as to trigger the gap fund that subsidises the plc with our money

Also the ornua 1c is not paid on liquid contract so any liquid lads are only getting that on half theirs or less

Shower of fukin bastards

whelan2 · 14-06-2016 05:59PM

OverRide wrote: »

As expected, dropped to 23 so as to trigger the gap fund that subsidises the plc with our money

Also the ornua 1c is not paid on liquid contract so any liquid lads are only getting that on half theirs or less

Shower of fukin bastards

how many days left on the f*cking msa's? You can bet if they were no contracts they wouldnt be carrying on like this

whelan2 · 14-06-2016 06:00PM

milkprofit wrote: »

there is no free money

How low can Glanbia GO ?????????? can they beat fontera

They will go as low as we let them go

Milk Price- Please read Mod note in post #1

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