Does Anyone Deal With the CWB Anymore?

[oneoff]

Tom.... Very bad form to be quoting Newco Grain to farmers at large. They still owe 120 plus farmers; truckers; other brokers etc. etc. a whole lot of money.

Not one cenyt of any bond has been paid to date; and Newco is certainly not straightening up for the amounts owed outside of what is supposed to be at least partially covered by any bond.

Geez; Newco should not even be operating in any form until they get past matters straightened up.

[TOM4CWB]

Oneoff,

This was a quote straight off DTN by the way... I got sloppy when I failed to point that out... sorry I appologise. From DTN:

"Winnipeg Pit Talk
Fri Jul 6, 2012 04:23 PM CDT


Cash Talk: Western Canadian Feed Barley Bids Strong

By Ryan Kessler, Commodity News Service Canada"

Perhaps you should have a chat with Ryan?

[oneoff]

Fair enough Tom.

The whole Newco collapse just didn't get the negative coverage that it deserved. Readers please remind me of any press release by other than the CGC.
And didn't it seem that Newco hasn't missed a stoke since May 14/2012. I doubt that they changed a telephone number; and apparently have the same employees.
I have no doubt they lost some money on marketing practices that worked quite well for their company in the past.

BUT is it now acceptable to just wash your hands (refuse payment except maybe if the CGC bond covers part of debt) and continue on doing business as close to though nothing had happened?
There had better be a 100% payment from the bond; or I may dedicate the rest of my life collecting the remainder from Newco.

Any support for that idea; and if not....why not?

[wmoebis]

Read Wilagro's post "farmer not vigilante"

Does this apply to stolen grain?

[TOM4CWB]

oneoff,

A change to the security system is long overdue.

Just try to get a credit rating from the CGC... the folks that monitor and know the dealers the best. AND domestic sales are NORMALLY not covered at all... they are considered 'Not within the interests of 'secure' national market... not normally graded with CGC grades; as the vast majority occur within a province in a virtually non-regulated system... which the CGC considers outside the CGC Act within the 'Trade and Commerce' powers that cover export trade sales. If Newco sales were within a province... like to a feedmill/feedlot... the CGC is very unlikely to cover that liability or risk. Just like lending 10K to a neighbour... the CDIC $100K insurance system does not cover the risk... even if your neighbour happens to work for a bank that is covered.

Were official CGC submitted grades and paperwork used in your sales with official weights and CGC approved paperwork?

Take a look at the CGC license exemptions:
http://www.grainscanada.gc.ca/licensee-licence/ugc-ccna-eng.htm

[Burbert]

Maybe we should talk to the Ritz cracker
aboot grain companies goin belly up,
leaving framers holding the bags. He
could work his majic and solve the
problemo fer us!

[wilagro]

I could name a number of grain traders that his (Ritzes) "magic wand" have helped in the last year...don't know about the farmers though...they usually end up suckin' the hind tit.

[furrowtickler]

Do your homework - although they must have coputer thingy's for you two in the old folks homes.... Now you might actualy have to think for yourselves - scary !!!

[Burbert]

Greed is good fer Comedian angribusiness!