Greengrass1 wrote: » Yikes !!
Milked out wrote: » I wonder did the threat that environmental crowd made to contaminate fonterra product effect it any bit?
frazzledhome wrote: » http://www.agriland.ie/farming-news/glanbia-proposes-share-spin-out-worth-e238m-to-members/
freedominacup wrote: » It was only ever a case of when.
Deepsouthwest wrote: » That's a major drop, certainly didn't see it coming, I thought we'd turned the corner, maybe not
Blackgrass wrote: » Synopsis for the stupid? Plc wants Co-op to sell up and remove monies/control?/focus from members to 'big business'.?
WheatenBriar wrote: » Since when did Co op control of the plc ever benefit the farmer? At this stage we should be lobbying for more control of GII,not the PLC whilst retaining at least 30% of the plc as an income stream for the Co-op Owning through a third party more than that of a plc that can only grow and secure funding by acting commercially(and not as a farmer benefactor) makes no sense economically to me anymore
WheatenBriar wrote: » Aye plc function -max profits/dividend for shareholders (not just farmers) GII function if it is a co-op- max returns for its members who would want to be 100% glanbia co-op preferably It's role then is max returns for the farmer and not the plc It's not rocket science The hold onto as much plc as possible focus is putting sentiment over profit Now that's the stupid thing at this stage
freedominacup wrote: » GII not a co-op. Private company. We should either block this completely or reduce our shareholding to 20% and take our cash off the table. Selling 18% would yield just over a billion or 200k to the average co-op shareholder. That would finance a lot of expansion plans.
WheatenBriar wrote: » GII is 60% co op 100% is the target Milk business owned and contrled by the members
freedominacup wrote: » GII is zero percent co-op. 100% private company. It's not that long ago that glanbia co-op had more or less sixty percent ownership of another company but because of far too much democracy and the subsequent continuous election of candidates based on popularity and geography that ownership never translated into control. If we are going to approve this it needs to be preceeded by a complete overhaul of how we appoint co-op and company board members. One thing that definitely needs to happen is the removal of all glanbia plc executives from the board of glanbia co-op. The second thing is a pre qualification test for prospective board members where in order to be considered for a board election any candidate needs to have physical and financial performance figures in the top one percent in the country on their own farm. If you can't measure up to the best in your own business how do you expect me to appoint you to run my co-op. Btw I'm definitely excluding myself with those criteria from ever being considered. Waterford co-op and Avonmore co-ops had 75%+ ownership of the companies they floated at one point. Every time there was a crisis due to mismanagement (more or less every second year at one point) the go to solution was that we would dilute our shareholding to fund the cleanup. We had never seen a penny until last year to reflect the investment we and those before us made in the company. I think we should pay ourselves now. 20% or 38% is irrelevant. The fiduciary duties line will be adhered to the next time there's a crisis and we'll get a pittance for our shareholding and all the upside will end up in the bank accounts of some vulture fund.
freedominacup wrote: » GII is zero percent co-op. 100% private company. It's not that long ago that glanbia co-op had more or less sixty percent ownership of another company but because of far too much democracy and the subsequent continuous election of candidates based on popularity and geography that ownership never translated into control. If we are going to approve this it needs to be preceeded by a complete overhaul of how we appoint co-op and company board members.
One thing that definitely needs to happen is the removal of all glanbia plc executives from the board of glanbia co-op. The second thing is a pre qualification test for prospective board members where in order to be considered for a board election any candidate needs to have physical and financial performance figures in the top one percent in the country on their own farm. If you can't measure up to the best in your own business how do you expect me to appoint you to run my co-op. Btw I'm definitely excluding myself with those criteria from ever being considered.
Waterford co-op and Avonmore co-ops had 75%+ ownership of the companies they floated at one point. Every time there was a crisis due to mismanagement (more or less every second year at one point) the go to solution was that we would dilute our shareholding to fund the cleanup. We had never seen a penny until last year to reflect the investment we and those before us made in the company. I think we should pay ourselves now. 20% or 38% is irrelevant. The fiduciary duties line will be adhered to the next time there's a crisis and we'll get a pittance for our shareholding and all the upside will end up in the bank accounts of some vulture fund.
WheatenBriar wrote: » Firstly, GII is 60% owned by the Co-op Fact The Plc wants out of low margin milk Fact So bringing up what used be higher control of the PLC by the Co-op is moot As for your point for board members, not a chance ,agreement on that amongst members would be difficult nice idea,but no one wants to be on a board unless they're paid handsomely The PLC will have more and more competent board members but ,the Co-op? Not likely, unless they're paid a lot I'm with you on payment but not if it means GII is all that's left to fund the Co-op It's not going to happen in one big bang though, we'll all be old and grey Oh wait...
arctic8dave wrote: » Feb base 30 c/l. Got 28.581c/l 3.95f & 2.93p ffs not even enough to pay S/L:-)
frazzledhome wrote: » What coop? Is base inc vat?
mahoney_j wrote: » Jaysus feb base here 32.086 ,actual milk price 39.346 c/ltr .4.74 fat 3.71 p.sone grass in diet every day since calving is a huge help and wholecrop is boosting fat which was 0.36 higher than feb 14 fat.
