Recent comments by: Keith
Sam. Could not have said it better myself.
Barry, what business/industry does not feel a cost-price squeeze? Every business is under pressure for lower prices against rising costs. There is competition for product in every industry. Businesses consolidate within any given industry every single day. Agriculture has been doing exactly that for last 4 to 5 decades here in Oz. As the asset pool consolidates with fewer owners, of course debt will increase among those who remain!! Just a question of the price the new owners paid for those assets and the funding mix they used. If they've chosen to fully debt fund, who's fault is that?
If you want a definition of slavery, Jock, it's borrowing a wedge to buy a place and then only decide to pay interest only on the loan like most farmers do.......now that's slavery! At least with leasing, you can walk away from it at the end of the term if it's not working out and have no debt with the banks.
Would be interesting to see the reaction if banks decided to pour water on the debt fire and STOPPED lending! Those same senators would want an inquiry into that too! Possibly set up another committee. Andre Latigan, debt forgiveness is NOT better than writing off bad debt. Why should a bad financial manager receive a "get out of jail card" while others who have managed their debt and met their repayments not receive the same "gratuity"? Debt forgiveness breeds bad decision making and is a dangerous precedent!
Only person who speaks some sense is Torobrook. Borrowers are exactly that, borrowing funds that are to be repaid in the future! The only way debt will be reduced is if there a widespread reduction in property values (or should I say "land costs") as debt and land valuations are linked. Let's see your reaction when that happens. Hands up those whose bank has said "no", only for you to ask other banks or go to a finance broker until you hear "yes"?
Geoff and Davidi. If I am going to invest in something, I would want some ownership and receive part of the returns.
Jock, so what you're saying is we should block ALL sales to Chinese entities? If this were to happen, all foreign investment in Australia would virtually stop and our country would be on its knees. If Australia effectively locks out a key trading partner in China, watch EVERY export to that country stop, including agriculture and minerals. Where would that put us then? In your own communist views (and yes Jock you are a socialist), have you evaluated those risks?
Jock, I think you may be the one adding more "spin" than Shane Warne!! Do you have any evidence Mr Ka-shing has any links to the Chinese Government? You have also pointed out the vineyards are probably cash-strapped, therefore unprofitable, and possibly needed to be sold for the owners to repay creditors. What spin am I falling for? Definitely not yours!
Jock, I'll refer to this line, "he has scooped up vineyards for low prices from Australian wine companies seeking to raise extra cash in a notoriously capital-hungry industry". My question then is are these assets still too pricey for local interests, or are they still over-valued even at this price point? Local buyers may well still not see value at that price point and let Mr Ka-shing buy as his own hobby.
Jock, if you're so worried about them why didn't you buy the vineyards?
Won't change a thing. Only increase the regulatory costs paid for by the Australian Tax Payer.
To all the detractors, what would be your reaction if you were offered a lot of money for your business (or land) by a large corporate and the ACCC knocked it back and prevented you from selling?
Jock. So you're allowed to throw stones at merchants but don't like replies with factual information from incognito!!! Socialist!! Regards, Keith (and no, I am not a merchant or one of their apologists.....as you have requested, your majesty).
Bushfire Blonde and Meg. Please step back into the real world. No one is "obliged" to borrow money as you suggest Bushfire. Meg, the farming families crush themselves on most occasions....but that will never be reported because the story does not sell!!!
The reason commercial milk is pasteurised is to increase its shelf life so milk companies can g'tee its safety. Unfortunately for over 99% of the population, they don't have access to the backyard cow and the benefits of drinking raw milk while it is "fresh". Qlander, Raw milk is dangerous where it is on the shelf for an extended period, which is what has happened in this case. Yes it should be banned from selling raw milk as a commercial product because product safety cannot be guaranteed.
An article that has such emotive undertones and language usually receives little credibility, and this one's no different. Stick to the facts Julian, and cut out the corporate bashing. Remember, every big company starts as a small company and operates as it is allowed to !!!!!!!
wtf, looking a silver bullet again are we??? No economy is ever perfect, take a look back through the ages!! I think you are the one who needs his head read!!