I Still dont get it?

[malleefarmer]

Who owns cwb a Saudi conglomerate? The Saudi govt? Nobody at all?

When awb went to a share structure amount of wheat delivered I think over 10 years previous we were each issued shares.

Then when it fully privatized these share were worth a bit.

Seems cwb had no such structure, seems it was devoid of any long term vision?

[BTO_farmalll]

#SALIC - Saudi Agriculture & Livestock Investment Company

An Arm of The Saudi Government Who's Job is To Secure High Grade, Cheap, Plentiful Food fer The Ungrateful Masses of Their Country!!!!!! And They Doin One Hell of a Job at That!!!!!!! All That Oil Money and Didn't Have To Spend One Lick of It To Buy da Bored, Plus on Top of That The Comedian Tax Payer Gave Them $330 Million to Take it off our Hands!!!!!!!! Fck Me if I Know How That one Werks!!!!!!!!

[Horse]

BTO It werks wit the con ass kissers and those that think there smarter than the average comedian farmer. And I guess it dont hurt to be next to the border.
.

[tstep]

It was a govt job and as far as I'm concerned the farmers of this country got fk'd and still being bent over by the big grain companies. The CWB needed to be changed but not dismantled.

[stonepicker]

Free at last1 Free at last! I love marketing freedom! The only ones still bound by chains are the ones that choose to be!

[Hopalong]

Mallee, think we in Canada are also confused.
Would hope someone more in the know could give us an answer who owns CWB.

[malleefarmer]

seems nobody actually owned anyway was just a "entity"

Whats the value to a new owner seems jack shit to me just a name

AWB had bricks and mortar, flour mills and receival sites dotted across the country.

CWB did have a port though didn't they? And ships?

[bucket]

Bunge and Salic own the cwb and changed the name to g3.

Apparently farmers never owned the cwb so when the Saudis wrote the cheque the money stayed with the company.

Or in other words they paid SFA for it.

[stonepicker]

The --- was always a gov. owned and run entity. The farmer elected directors only created an illusion of actual ownership. Does anybody actually believe that the --- farmer directors could actually run a so-called world class grain export business? Now that's laughable.

[Oliver88]

From their website:

OUR SHAREHOLDERS

Joint Venture Members
G3 Global Grain Group

G3 Global Grain Group is a joint venture between Bunge Canada (Bunge) and SALIC Canada Ltd., a wholly owned subsidiary of Saudi Agricultural and Livestock Investment Company (SALIC), formed to invest in Canada’s agricultural grain industry by establishing a highly efficient coast–to-coast grain enterprise.

Farmers Equity Trust

The primary purpose of the Farmers Equity Trust is to own the Class B shares in G3 Canada Limited (formerly CWB) which were issued to the Trust on July 31, 2015. These shares represent farmers’ opportunity to have an economic interest in G3 Canada Limited. The Trust also oversees the allocation and issuing of Trust Units to farmers who have done business with CWB since August 1, 2013, or who continue to do business with G3 Canada Limited until the Trust’s equity position is fully allocated or the shares of G3 held by the Trust are sold, as outlined in the Declaration of Trust and the shareholder’s agreement of G3 Canada Limited.

https://www.g3.ca/shareholders

[malleefarmer]

oliver that should have all been 15 yrs ago when cwb was strong and had farmer "directors".

I know I will get flamed by all of you but your beloved cwb was behind the times by 20 years, at least in Australia I think average joe farmer got around 60k worth or shares when it was floated depending how much grain you sold them over previous I think 10 years.

Im not a awb or cwb fan but we at least got something and it was viable and functional when single desk finished and finally got gobbled up by Cargill because of that reason was worth something.

What were your farmer directors doing playing twister, cause they were pretty good at twisting and turning when need be, but even more why weren't you farmers questioning them, like hey weve gotta change structure here, but the horse has bolted.

open slather shoot me down

[mbdog]

Mallee...you seem to get it pretty good... Good on aussies to see their board for what it was sooner and their ability to capture/politically negotiate some value for the producers/provinces forced into the system. With the exception of a few sour g****s, and a few who are politically motivated to use the board as a wedge issue, producers have moved on and aren't complaining about the expanding and developing competitive environment. Value in the board wasn't bricks and mortar yet a very subjective thing. The political value was squandered perhaps...time will tell.
Movin on....

[farmaholic]

There was an attempt to change but maybe too little too late. Then a government was elected with a promise of removing the monopoly, which it did, unsystematically. No one can agree who the majority was, pro or antiboard, and that debate has gotten so old and biased its sickening. To me, the whole decision became subjective and not objective, a decision based on ideology and emotion.

No planning....just threw open the flood gates, no checks and balances or methodical transition. First two years were painful with the historically big crop one of those years and transportation issues. Unfair pricing considering a fair basis based on what deductions were pre open market.

Hard to believe that even those who so desperately wanted marketing freedom couldn't see that after decades of monopoly that some of the hard assets couldn't be seen as being earned by retained farmer capital. All we ever heard is how ****ed over we were getting so how do you think those assets were
being acquired? Office building, Mission Terminal, a fleet of hopper cars, ships being purchased.

Too political, too polarized, too bad. I am not bemoaning the demise as much as how it was done. I don't think too many people quit farming because of it either. Adapt and move on. We functioned with out board control over many other crops and did just fine, I am hardly devastated and heart broken, there some things I am enjoying in the open market........makes us accountable.

[riders2010]

right on farmaholic! that does say a lot about how this whole thing went down its still evolving and not with the customer in mind. The extreme wing nuts calling the shots for both sides were more worried about getting their way than actually thinking about the most import things which were.
Why do so many people want to get rid of this?
If we get rid of it how do we make the situation better?
no one gave a crap about either of those

[blackpowder]

Agree all the way. Ive wondered about that myself. One thing tho was for sure.
Ritz had a short time to make sure it was completely gone for good. We can all see what would have happened if he had dicked around. Publicly, no one was agreeing on a damn thing for years. An epic stalemate that continues on agriville today.
Napalm may have been the only thing left.