CWB Ships,

[farmaholic]

It would have been interesting to have seen how the debate and voting evolved around the board (of directors) table. I don't agree with TFLN's comment about the shareholders deciding, The old Sask Wheat Pool went ahead without alot of support on their (was it) Project Horizon. Maybe the ships were Bruce Johnson's idea, he was at SWP when it went through it's early metamorphic stages. Now look at Viterra, lots of growing pains and rooked investors but they came out the other side alive. Could it be an attempt by the CWB to try to morph itself into something more than just a marketing agency as it feels the noose tightening around it's neck? This announcement came as a complete surprise to me.

[BTOfarmall]

Er do I got to tink fer You's????

Tom what happens is dey would gist sell da ships fer $0.10 on da dollar if'n Thee End....

8 YEARS to pay back!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If'n da Comedian Wit Bored had a Brain and truly wanted to help da Comedian Farmer and pay da Ships off quick. Dey would keep da Ships movin year round haulin all grains. Dey haul wheat East er w/e, den haul CHEAP Fertilizer back from across da pond fer da Comedian Wheat Farmers of Comedia. You's have access to twelve tousand railcars to haul grain East, den back haul Fertilizer. Genius!!!!!!!!!!

[TOM4CWB]

GTO,

If the CWB sells the ships after 8 years... it costs my family 1/t for Four years... with absolutely nothing in return.

Our wheat board grains NEVER go east... so we will never use lakers... hence no benefit to us.

All cost; NO benefit.

Chairman Oberg had an obligation to tell us about spendin $65m BEFORE the 2010 elections. THIS is FRAUD.

[jdepape]

The board bought lakers with your money, for an apparent financial benefit. Supposedly a good investment.

Think about it - the board could have got the same "benefit" without the investment by negotiating a long term handling agreement where the board agrees to use the new ships at negotiated market rates, and the shipowners agree to pay the board a "rebate" at the end of each year on the tonnage they handled. Just like they do with Mission Terminal in TBay and Alliance Terminal in Van.

Oberg said it was a good investment with an internal rate of return of 15%, and $10M in annual contributions to the pool.

Think about it: what's the IRR on $10M in annual contributions to the pool without any investment at all?

Answer: much better.

[TOM4CWB]

jd,

To be tied up owning ships... with only one service provider... is just plain stupid.

These CWB directors got taken to the cleaners.

We will not see one NET cent back... for over 8 years.

We are locked in... and have to look after this shipping pool... (make it look good) as well as selling grain.

The CWB grain pools can be manipulated cover any shipping losses that might occur... so of course the ships will always make money... but not only our 2 ships... but all 8 that are pooled together.

THis is a cross subsidy to the iron ore and steel manufacturing industries from western grain farmers.

In 1993 when I was in Winnipeg... the CWB was paying $25/t... for laker services worth $17/t... back then!

I know... I am TalkingEskimo... again.

I think I will try the Cropduster dialect..

$%&&&%$&*!@!@!@$$%&***(*)&CD4

[TOM4CWB]

Hey... Think of the upside!

We can manipulate the dispatch and demurrage... and churn millions into billions!

Wow... I should have known there would be a huge payback from this brilliant CWB intangible benefit!

How could I be so slow!

Steak dinners for all CWB managers!!!

[jdepape]

LOL
you beat me to it Tom!

[BTOfarmall]

Tom if'n da Comedian Wit Bored moves grain in dese Ships like yer Buddies at CN & CP move grain, only plan on dem bein' used 2 - 3 times per year at Best......