Recent comments by: drowning in debt
Agribuzz with David Leyonhjelm
eh Hyden . just wait cobba, only a matter of time before you and your mates follow bank foreclosed cockies like me to mandurah. land prices are going to tumble hard now grain prices are collapsing and debt compounding. the banks have no choice but to tighten your belt for you. if that doesnt get you hungry for your cbh equity then you deserve to eat debt cake like i was forced to. farmers ignorance is going to cost them dearly
its shameful that farmweekly chooses to gag chat on this the most important topic to face wa wheatbelt farmers in a generation. shame on you mods. cbh has obviously reminded you of advertising revenues. you should remind them you have the readership. disgraceful situation
how much money are cbh spending when all they have to do is put it to a vote for no cost even if the no vote gets through??? why go to so much effort to prevent a vote from happening?? what are these ego maniac directors scared of??? losing their job??? i think they are worried about agc actually getting to look at the books because they are getting cooked with cross subsidy stew
take the cash folks because if you don't the current bunch of directors will bankrupt the company anyway. the balance sheet is currently covering up a large writedown on the Newcastle terminal investment and also with the Asian meltdown something similar is also coming on all those Asian investments . the trading desk continues losing millions with this years failed malt barley crop serving the cbh trading desk a big loss . storage handling charges aren't coming down anytime soon
where you been all these years wally? i hadn't heard from you until you became chairman . is there a culture of gagging directors from freely speaking their minds?? seems that way. thats why all there is in there is a bunch of yes wally men. vote em all out and lets get rid of this political election process . its killing the cbh empire &gonna deliver it to the scrapheap as well as all our hard earned equity
mr clauson when questioned at the moora pre harvest meetings about the fertilizer push 'well we know this wont make any money but we had to do it for the growers'
you could have heard a penny drop. obviously this means higher storage and handling charges??????
what will lower costs?? how about stop wasting money on gwn tv ads, full page newspaper ads, spending on out of catchment infrastructure, massive hedge losses , buying trains you can't use??? starting a fertilizer war that will use s+h charges fat to discount, discounting s+h charges in bunge catchment, .... just a few that come to mind
so you sent yourself 5 letters mr newman?? these directors should declare their exact shareholdings if they expect shareholders to respect their words
Get rid of the encumbents to send a clear message to the board, growers aren't happy being fed shite all the time, wasting money on GWN and full page ads. growers want cheaper freight and storage costs. Oil price is under $30 a barrell and growers are getting rises in their freight???? cbh is just a spin machine atm
a $10million loss on their trading desk when they have complete inside information of quality and stocks?????
word has it their malting forward sales are going to cost serious dollars this year as only feed barley coming in, literally 99pc of deliveries
what a joke! of all the things this bloke could address in the media, a bloke in charge of the future of $7 bill of shareholders' equity about to be polaxed by the arrival of serious competition, he chooses his pga membership!
this is proof politics runs the company and why it is doomed.
theres only so long it is worth keeping your $2 share active as an exiter from the industry. if only the forefathers who corporatised wesfarmers were still around.
put it to a vote!!! what are you all scared of. plenty of rhetoric about the importance of a coop but little evidence other than the odd rebate we are any better off without it.
in fact the continued rises in s/h costs suggests this board has no clue how to manage the business and reduce costs, only spend and keep pressure on them rising. thats easy. bunch of farmers running a multi billion company, what a joke
the only time we hear from these directors is when they need a reelection. fact is they have been spending like drunk sailors and growers are getting slapped with increasing charges with more to come . running a 4billion dollar company like the next phase in life and all the fruit it brings an individual means the current politically run model is doomed. many coop members know this .
and what of our equity Newman? does your network plan account for the losses the board will oversee with plenty of notice as the multinationals demolish Kwinana pie?? keepin my cbh share active but think it will prove a fruitless exercise ..........
so for a farmer with a bank breathin down his neck, do you really think they want to hear how profitable a co-op is year in year out? cbh are creamin us and then plowin the profits into wild bets overseas and half page adverts in the rural press beefin up their public relations strategy. makes me sick!
the only positive of bank foreclosure for me was an end to having to pay these levie taxes. what a rort!
so lets have the experiment with voluntary levies, if it fails we have $170 million in our pockets for failing.
mark levies are deducted whether you make a profit or not. theres plenty of cockies that produce grain without makin a profit so presumably they are borrowing to pay the levies. not rocket science eh cobba? didnt help me as im now sold out by the bank. would hate to know how much money went to grdc in the name of 'research'. so while ya are still a disciple the reality is ur a slave to grdc
for cbh to lose any money on their trading desk is like a poker player losing when he can see the hand of the dealer
these directors have never had to face competition & so no surprises they are like a deer in the spot light. they've got all this cash of ours at the moment so that makes em feel invincible but the future aint gonna be so easy when growers get choice. bloody dumb blindly loyal shareholders cant see they are about to have a haircut and in some parts of the wheatbelt storage handling costs are gunna explode. so they'll wear rising costs and a loss of the worth of their cbh share/s, maybe to nothing. wot you reckon will happen to land prices in those areas?? down down, prices go down
socialist, your arrogance and that of the board is in the process of costing marginal farmers dearly, there's a groundswell of farmers on the wrong side of 50 who are angry that this board is not addressing the issue of equity access. we'll keep our shares alive with 200t of shifted grain from mates a year, so let's see how the next vote goes, cobba.
all i know is no point having a strong co-op if all its members are going broke like i did. hows the local football club going cmt. ours folded last year. eagerly awaiting my 2 buck cheque.
it dont matter what you think the problem is dalby. what matters is everyone should be focussed on strengethening business equities not that of an bloody co-op. a strong co-op doesnt stop farmers going bankrupt OBVIOUSLY!!!! ive listened to rhethoric of why we need a co-op. its all ideoloistic. Why is the grain farm debt crisis worse in wa than sa, vicco / nsw? because we never corporatised mate.everyone else got their equity .
still very raw with me this issue. now off the land and waiting for my $2 cbh cheque in the mail!! farmers whinge about how tough farming is and their dy0ing towns and football teams. well take a look around. you think the level of debt out there won't claim another 2000 farmers in the next 5 or10 years?
preserve the co-op, preserve the co-op. yeah thanks mate. you got a healthy co-op but the family farmer is in crook shape. a healthy co-op cant help me any more or my kids who now gotta try and find a job in australia once they graduate from the local public high school
cbh has got rocks in its head if it thinks this will be supported by wa growers!!
we have our own problems to solve not those of the competition over east
1. a failing rail network
2. aging shareholder base
3. competition stealing most profitable tons
nice ignorant comment marc2. in case you live under a rock or on a dusty nsw farm wa producers know comparing our export orientated model with your maybe export sometimes model is like comparing apples with pears!
you store everything when its drought and supply domestic only. just like your doing right now!!! ignorant bloody comment that
they had an opportunity to vote it in and they voted to forgo their equity in 2000. where is my vote now? dont you stand there and tell me this is for the greater good. blokes in my situation get a little bit hot under the collar when you see farmers valueing the future of a co-op more than having the neighbour in business. my kids wont get a chance to farm. great outcome cbh. even rail lines are more important than the people to produce the grain. wa farmers have got rocks in their heads. and they whinge when their towns die. tell your story on the one way drive to mandurah
Farmers don't deserve any special bailout treatment especially when we have $6 billion big ones tied up in CBH.
One thing is for sure, everyone would be a lot more viable with their CBH equity!
blokes would rather go bankrupt out here & leave their CBH share to western districts fat cats