What happened to the final payment?

[bucket]

LEP

If you figure you are 7 bucks short on this year's final and the boats were to be funded by a buck a tonne checkoff for the next few years.

Don't you think they just took the money upfront?

[TOM4CWB]

Farmers

Exiting a contract

Buyouts

2011-12 buyout fees

Effective: Jul 31, 2012 3:00 p.m. CT
The below per-tonne fees will be applied as damages
on any wheat or durum contracted for the 2011-12
pool year and not delivered.
All deadlines are listed as Central time (CT). Winnipeg
is in the Central time zone.

Wheat Per-tonne fee
Canada Western Red Spring (including Warburton GDC
contracts) $73.00
Canada Prairie Spring Red $103.00
Canada Prairie Spring White $0.00
Canada Western Red Winter $97.00
Canada Western Hard White Spring $73.00
Canada Western Soft White Spring $52.53
Canada Western Extra Strong $73.00
No.4 Canada Western Red Spring
and Canada Feed Wheat $35.00
Durum
Canada Western Amber Durum
Nos. 1, 2 and 3 $27.00
Canada Western Amber Durum
No. 4 $18.27
Canada Western Amber Durum
No. 5

I would say that the writing was on the wall Aug 1/12.

CEO Ian White told us at Farmtech that the Federal
Gov. financed the boats... so where did you hear
farmers paid?

[Choice2U]

The 3 numbers below are the final prices I received after all deductions on approx 190Mt. with varying protein levels based on a Fixed Price Contract in 2011/12. I got approx. $4/bu upfront $2.35/bu within 10 days. I was mad because the discount was well over $1/bu. but I did it anyway.

$6.35/bu
$6.30/bu
$6.38/bu

$6.08/bu This is the end result on the final 32 Mt that I hauled in and left in the pool. The $6.08 is $5.07 initial (hauled late in season which explains why initial is so high) 64 cent interim 37 cent final.

Gotta love the - 25 cent premium the pool account got me without even considering the discount that I gave up doing the FPC initially and the time value of money. I guess CWB supporters figure a premium can be a negative number as well.

[bucket]

So if LEP is correct that they are 7 bucks short from the last PRO - where did the money go?

Remember the wheat market was a rising tide, if anything the final should have averaged up, not down?

Ian White can say whatever he wants, but until there is a final accounting and transaction shown for the asset base - no one knows!

Besides it was irresponsible of the cwb board of directors to make that purchase without telling farmers during the BofD elections and also knwing the political climate.

The assets being moved from the old cwb to the new cwb have to be shown as a transaction. The money paid on the transfer should go to farmers.

For example, if the cwb sells its building in Winnipeg for 100 million dollars that money should be sent back to farmers. Instead it will vanish.

If the new cwb aquires the building with debt, great, but the money for the sale is farmers.

Those decisions should have been done by now and paid out to farmers, and like I said it will just vanish.

I am not saying those assets are worth 17 billion like the other nut cases out there, but I do believe that farmers that used the cwb whether they liked it or not, are owed some asset money.

[tmyrfield]

Court costs fighting the decision all the
way to the supreme court. Lawyers love
money!

[bucket]

That's right they were using their cwb's PR budget to load up the pre pay on the lawyer's fees.

Anders Brunn would have surely got his money upfront knowing the politacl battle. Doubt he done anything without a sizeable deposit.

[Burbert]

The current gobermont run cwb, is meant to
fail, and as such is failing. F Ritz and
Heil Harper, theys the tools that
constructed this phoney beastie, eh!!!