Berri 2,131 Report post Posted March 20, 2018 Spierings is leaving Fonterra. The fat cat has screwed the farmers for years. A clean sheet.....now Wilson must follow suit.... Midget 1 Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,759 Report post Posted March 20, 2018 1 minute ago, Berri said: Spierings is leaving Fonterra. The fat cat has screwed the farmers for years. A clean sheet.....now Wilson must follow suit.... Not a bad wicket eh Berri....get paid $8m while losing $348m.......the Farmers will be ropeable..... Quote Share this post Link to post Share on other sites More sharing options...
Shad 1,539 Report post Posted March 20, 2018 Wouldn't celebrate to much, more than likely another waiting in the wings. Quote Share this post Link to post Share on other sites More sharing options...
Guest Report post Posted March 20, 2018 Is he lining up for the NZRB? Quote Share this post Link to post Share on other sites More sharing options...
bazach 133 Report post Posted March 21, 2018 46 minutes ago, Ohokaman said: Not a bad wicket eh Berri....get paid $8m while losing $348m.......the Farmers will be ropeable..... The farmers have voted over the decades to become a mega co-op, so can't complain that they have lost personal contact and don't have much 'real' say in the company. Interesting that Tatua stayed small, ie just over 100 suppliers and consistently pays more to their suppliers than Fonterra. Midget and weasel57 2 Quote Share this post Link to post Share on other sites More sharing options...
Guest Report post Posted March 21, 2018 Same with the Westland Dairy Company. Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,759 Report post Posted March 21, 2018 13 minutes ago, bazach said: The farmers have voted over the decades to become a mega co-op, so can't complain that they have lost personal contact and don't have much 'real' say in the company. Interesting that Tatua stayed small, ie just over 100 suppliers and consistently pays more to their suppliers than Fonterra. Be that as it may Baz, the simple fact is that those who generate the wealth don't appear to be getting their fair share. ( Sound familiar ? ) I know a number of Farmers and Sharemilkers that have had some pretty trying times lately...and this news won't help their mood any... Quote Share this post Link to post Share on other sites More sharing options...
Tauhei Notts 1,403 Report post Posted March 21, 2018 That loss on Being Mate is totally unacceptable. The numbers are so huge that they baffle farmers. An outfit with 11,000 suppliers lost $448,000,000 on one entity. It is best to put those horrendous figures into perspective. It is $40,727 per supplier!!! And don't get me started on the Danone debacle; that is another story. Then there was that stuff up at Hautapu that cost Lord knows what. Several cockies have complained at the increasing compliance costs, like $7000 for a bobby calf pen that complies with new laws. Being Mate is more than five new bobby calf pens! Have a look at Fonterra's accounts when they come out in about September 2018. Look particularly at movements in the Company's imputation credit account. When a New Zealand company pays tax they get a credit to their imputation credit account. I will wager $50 dollars that there will be no change to the Fonterra imputation credit account in the year to 31st July 2018. That is, THEY DO NOT PAY NEW ZEALAND INCOME TAX. For Christ's sake, I do not know why the far kin hell that is. Sorry about a cow cockies diatribe on a racing site. Midget 1 Quote Share this post Link to post Share on other sites More sharing options...
Blue 1,080 Report post Posted March 21, 2018 2 hours ago, bazach said: The farmers have voted over the decades to become a mega co-op, so can't complain that they have lost personal contact and don't have much 'real' say in the company. Interesting that Tatua stayed small, ie just over 100 suppliers and consistently pays more to their suppliers than Fonterra. Actually Bazach, I think they have barely 20 suppliers, pick up in a 20km radius from the factory and make high end products. Being small there's no problem in selling all they produce. That's efficiency. On the other hand Fonterra makes the quickest and cheapest products they can and therefore have little or no safety net when markets dip. The Chinese at the Pokeno factory buy powder from Fonterra that is up to it's use-by date. They get it cheaper, re-constitute it and make ice-cream with it. The typical value-added scenario. Why could Fonterra not have done that themselves? Cockies being short-changed methinks though, as mentioned previously, they did fall over themselves to instigate the Company. Midget 1 Quote Share this post Link to post Share on other sites More sharing options...
bazach 133 Report post Posted March 21, 2018 2 hours ago, Ohokaman said: Be that as it may Baz, the simple fact is that those who generate the wealth don't appear to be getting their fair share. ( Sound familiar ? ) I know a number of Farmers and Sharemilkers that have had some pretty trying times lately...and this news won't help their mood any... Agree Ohoka, there are overpaid fat cats in all businesses these days. Interestingly a lot are public servants, ie paid for by the tax payer or rate payer. Although private companies can pay what they like (but maybe risk rebellion by shareholders), in my view no public servant should be paid more than the Prime Minister of the day. Quote Share this post Link to post Share on other sites More sharing options...
Midget 4,489 Report post Posted March 21, 2018 3 hours ago, Tauhei Notts said: That loss on Being Mate is totally unacceptable. The numbers are so huge that they baffle farmers. An outfit with 11,000 suppliers lost $448,000,000 on one entity. It is best to put those horrendous figures into perspective. It is $40,727 per supplier!!! And don't get me started on the Danone debacle; that is another story. Then there was that stuff up at Hautapu that cost Lord knows what. Several cockies have complained at the increasing compliance costs, like $7000 for a bobby calf pen that complies with new laws. Being Mate is more than five new bobby calf pens! Have a look at Fonterra's accounts when they come out in about September 2018. Look particularly at movements in the Company's imputation credit account. When a New Zealand company pays tax they get a credit to their imputation credit account. I will wager $50 dollars that there will be no change to the Fonterra imputation credit account in the year to 31st July 2018. That is, THEY DO NOT PAY NEW ZEALAND INCOME TAX. For Christ's sake, I do not know why the far kin hell that is. Sorry about a cow cockies diatribe on a racing site. I wonder if Silver Fern Meat will go the same way,the Crafar farms should have been given to Maori and young NZ farmers.The farming show reported the Beingmate deal to be losing over 558 million I thought. Quote Share this post Link to post Share on other sites More sharing options...
TOM(the other Molloy) 1,774 Report post Posted March 21, 2018 6 hours ago, 2Admin2 said: Same with the Westland Dairy Company. Not lately they haven't. And despite having a flash new CEO who appears to be doing a great job turning the Company around Westland will pay less than Fonterra this year as well. The Dairy industry is akin to the racing industry in that the blokes producing the product are at the whim and mercy of the overpaid fat cats at the top who have forgotten who ultimately pays the bills. Both industries are afflicted with Boards and Executives who go off on tangent schemes then when the proverbial hits the fan and the (inevitable) enormous bill comes in they suddenly decide to retire 'for personal reasons'. Bloody frustrating and when you are dealing with farmer clients who are struggling it is quite sad. I would love to wave a magic wand and fix everything but like the racing industry they are being swept along in a wave over which they have no control. Insider and dock leaf 1 1 Quote Share this post Link to post Share on other sites More sharing options...
Guest Report post Posted March 21, 2018 Just now, TOM(the other Molloy) said: Not lately they haven't. And despite having a flash new CEO who appears to be doing a great job turning the Company around Westland will pay less than Fonterra the year as well. The Dairy industry is akin to the racing industry in that the blokes producing the product are at the whim and mercy of the overpaid fat cats at the top who have forgotten who ultimately pays the bills. Both industries are afflicted with Boards and Executives who go off on tangent schemes then when the proverbial hits the fan and the (inevitable) enormous bill comes in they suddenly decide to retire 'for personal reasons'. Bloody frustrating and when you are dealing with farmer clients who are struggling it is quite sad. I would love to wave a magic wand and fix everything but like the racing industry they are being swept along in a wave over which they have no control. Ok I didn't know that however over a long period of time they have done OK? Quote Share this post Link to post Share on other sites More sharing options...
von Smallhaussen 3,226 Report post Posted March 21, 2018 5 minutes ago, TOM(the other Molloy) said: The Dairy industry is akin to the racing industry in that the blokes producing the product are at the whim and mercy of the overpaid fat cats at the top who have forgotten who ultimately pays the bills. can you imagine what it's like to be involved in both? TOM(the other Molloy) 1 Quote Share this post Link to post Share on other sites More sharing options...
TOM(the other Molloy) 1,774 Report post Posted March 21, 2018 1 minute ago, 2Admin2 said: Ok I didn't know that however over a long period of time they have done OK? Been a real problem in the last five years or so. The previous CEO had an empire building mentality and promised the farmers here the earth but delivered merely massive losses and a seriously impaired balance sheet. On top of that the banks have totally lost confidence in the Coast (farms that is) so the guys are getting squeezed income wise and also by the financiers. One instance I heard of had a debt of $20m - the bank put them under and could only get an $8m offer which itself fell through. At the height of the boom it would have been worth a lot lot lot more than the debt but when the banks lose confidence........ Quote Share this post Link to post Share on other sites More sharing options...
Tauhei Notts 1,403 Report post Posted March 21, 2018 Tatua was a Derby winner. Fontera was merely a steeplechaser. Quote Share this post Link to post Share on other sites More sharing options...
TOM(the other Molloy) 1,774 Report post Posted March 21, 2018 3 minutes ago, von Smallhaussen said: can you imagine what it's like to be involved in both? I doubt there are too many are there? Unless they are career dairy farmers with no debt. I guess a dairy farmer has the option of getting out of the racing game but it may not be as easy to extract themselves from the farm business. Quote Share this post Link to post Share on other sites More sharing options...
Guest Report post Posted March 21, 2018 29 minutes ago, TOM(the other Molloy) said: Been a real problem in the last five years or so. The previous CEO had an empire building mentality and promised the farmers here the earth but delivered merely massive losses and a seriously impaired balance sheet. On top of that the banks have totally lost confidence in the Coast (farms that is) so the guys are getting squeezed income wise and also by the financiers. One instance I heard of had a debt of $20m - the bank put them under and could only get an $8m offer which itself fell through. At the height of the boom it would have been worth a lot lot lot more than the debt but when the banks lose confidence........ That's sad. Sorry to hear that. Quote Share this post Link to post Share on other sites More sharing options...
newbie85 94 Report post Posted March 21, 2018 So how long should a CEO stay in the job ? We have one running a Racing Club that has been there 25+ years. What new do they have to offer after so many years and should they re apply for their position on a Regular Basis. Quote Share this post Link to post Share on other sites More sharing options...
Berri 2,131 Report post Posted March 21, 2018 Speiring is a dirty low down mongrel who screwed everyone for his own gain, nothing he did worked. The chairman is not much better. Fancy having a farming co-op that was set up to look after its constituent shareholders. Then they decide to bring in the fat cat institutionals and call it a level playing ground. The fat cats are now at conflict with the farmer pay=outs. What a shambles. Much the same in this racing kick that we're experiencing...to many fat cats and people who don't know what they are doing pulling the whole process off course. Some are good guys...others are way out of their league. Board needs to change. The quicker the better. Tauhei Notts, CosmicBlackie, napier and 2 others 4 1 Quote Share this post Link to post Share on other sites More sharing options...
Ohokaman 5,759 Report post Posted March 22, 2018 15 hours ago, Berri said: Speiring is a dirty low down mongrel who screwed everyone for his own gain, nothing he did worked. The chairman is not much better. Fancy having a farming co-op that was set up to look after its constituent shareholders. Then they decide to bring in the fat cat institutionals and call it a level playing ground. The fat cats are now at conflict with the farmer pay=outs. What a shambles. Much the same in this racing kick that we're experiencing...to many fat cats and people who don't know what they are doing pulling the whole process off course. Some are good guys...others are way out of their league. Board needs to change. The quicker the better. Tell us what you really think Berri..... Beats me why the Dairy Industry here employs so many Dutch Execs..Lefferink was another. What do the Dutch know we don't...? Quote Share this post Link to post Share on other sites More sharing options...
Berri 2,131 Report post Posted March 22, 2018 Well that's actually quite interesting. NZ dairy industry was created by the Dutch. Most of world expertise in dairy is Dutch. Hard working, honest and normally good people. Spierings must have a genetically modified post office bureaucrat as a father, or the milkman slipped in under his neck. Speirings is a fuckwit. Tauhei Notts 1 Quote Share this post Link to post Share on other sites More sharing options...
Booby Bec 84 Report post Posted March 23, 2018 7 hours ago, Berri said: Well that's actually quite interesting. NZ dairy industry was created by the Dutch. Most of world expertise in dairy is Dutch. Hard working, honest and normally good people. Spierings must have a genetically modified post office bureaucrat as a father, or the milkman slipped in under his neck. Speirings is a fuckwit. Not in Lefferinks case either, a real mongrel Quote Share this post Link to post Share on other sites More sharing options...