I agree, maybe Obama might have some new thinking, it certainly won't happen with our dud's like Ritz.
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agstar77,
The risk managers at the CWB place virtually all the risk in our hands as 'designated area' produces... and little with buyers of our produce.
The SALES dept of the CWB works for the 'grain BUYER' at the cost of my farm.
If we don't market 'smart'... with proper risk management... WE ARE NOT COMPETITIVE GLOBALLY.
101 risk management strategies COULD be implemented by the CWB IF IT WERE VOLUNTARY.
BUT as the bull in the china shop... the CWB cannot properly create value... because they are too big... and will destroy our domestic value added industries if they actually 'extract a premium' as a practice throughout the 'designated area'.
For instance... the CWB cross hedged barley on the corn futures... and locked in $7/bu for our barley... 6mmt of the barley produced in 08-09.
Can you imagine what that would do to the livestock industry in Canada?
THE CWB CAN NOT DO WHAT you want it to do AGSTAR77... it would destroy agriculture in Canada.
SO;
The CWB makes claims that cannot be fulfilled... and expects me and others to believe lies that must not occur for the health of agriculture in Canada.
INDIVIDUAL RESPONSIBILITY is the only answer... that respects the assets of everyone.
Get it Agstar77?
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Charlie,
We are so far behind the EU in sustainable energy production and consumption... it should scare the crap out of us.
Our economy is based on growth... and as it turns out... it is actually exponential growth.
Example:
A test tube is filled with food for a bacteria.
Bacteria reproduction doubles each year... using up the comparable resources.
The food in the test tube will last 100 years.
on the 99th year... the test tube is half full... and the food half gone.
on the 98th year... the test tube is 25% full...and the food 75% left.
on the 97th year... the bacteria take only 12.5% of the food... and 87.5% is still there!
on the 96th year... the bacteria take only 6.25% of the food available... and 93.75% is still available.
on the 95th year... the bacteria take only 3.125% of the food available... and 96.875% is still available.
Can you imagine telling the bacteria that with 96.875% of their food left... on the 95th year of their existence... that there is a problem!
Suppose they listen... and figure out how to make 3 more test tubes?
Now there are 4 test tubes... 4 times as much food!
The bacteria will still only make it to 102 years... with 4 times as much food!
This is sustainability... or the lack thereof!
Exponential growth of our economy will destroy this planet!
PEOPLE are the important part of the human race & economy.... not money and things! EVER GROWING Consumption cannot rule our lives!
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Charlie,
I see this whole situation is 'political' to say the least!
Risk Management is key to the survival of any industry/company... ethanol is no different!
It would be interesting to know how SW Air is doing on its fuel hedge program now!
What will we do on hedging fuel for 2009?
WOW... interesting times!
CHICAGO, Nov 5, 2008 (UPI via COMTEX) -- Wavering corn prices have turned on the U.S. ethanol production business, which is struggling to survive in its current form, records show.
One of the country's largest producers, VeraSun, filed for bankruptcy last week, The New York Times reported Wednesday. Industry analyst Ian Horowitz with Soleil Securities expressed concerns over BioFuel Energy, a producer he said was cash poor and, like VeraSun, had done poorly with commodity price hedging, the Times said.
Some companies signed contracts for corn in the summer, when it was priced at around $7 a bushel. Prices have since fallen to around $4 a bushel.
The giant agribusiness Archer Daniels Midland, a large ethanol producer, has seen profits drop in its corn processing division, the report said.
Some feel a wave of bankruptcies could be around the corner although consolidations are possible as soon as credit loosens up, the Times said.
Regarding bankruptcies, "like the airlines, sometimes one goes in, the others run to go in, too," Horowitz said.
www.upi.com
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Charlie,
This is interesting...
"Southwest Airlines reported (16-Oct-08) its 70th consecutive quarterly operating profit. After special charges totaling USD247 million primarily related to mark-to-market adjustments on a portion of the future periods' fuel hedge portfolio required by Statement of Financial Accounting Standard (SFAS) 133, Accounting for Derivative Instruments and Hedging Activities, as amended, the Company reported a third quarter 2008 net loss of USD20 million.
This compares to net income of USD162 million, or USD.22 per diluted share, for third quarter 2007. Excluding these special charges and other special items, the Company reported third quarter 2008 net income of USD69 million, or USD.09 per diluted share, compared to USD156 million, or USD.21 per diluted share, for third quarter 2007. Third quarter 2008 also represents the Company's 70th consecutive quarter of net income, excluding special items. The Company's third quarter 2008 net income, excluding special items, of USD.09 per diluted share exceeded Thomson's First Call's mean estimate of USD.07. Refer to the reconciliation in the accompanying tables for further information regarding special items.
Third Quarter 2008 Financial Highlights:
-- 70th consecutive quarter of profitability, excluding special items
-- Record quarterly revenues of USD2.9 billion, up 11.7 percent from third
quarter 2007
-- Net income, excluding special items, of USD69 million, down 55.8%
-- Net income per diluted share, excluding special items, of USD.09, down
57.1%
-- Cash settlement gains of USD448 million from fuel contracts reflected in
net income
(c) Centre for Asia Pacific Aviation. Date posted: 17-Oct-08"
http://peanuts.aero/low_cost_airline_news/airline/15181//Southwest Airlines reports net loss for third quarter
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