AGT Foods gets $500 K

[HITTGrapevine]

So AGT Foods is the most recent recipient of taxpayer money under the Saskatchewan Lean Improvements to Manufacturing Program, (SLIM).
The pulse processing company headed by Murad Al Katib will receive $500,000 to expand infrastructure used for polishing, bagging and conveying product (sounds like a new conveyor system).
Is it just me, or do the optics of this deal look really bad?
Does AGT really need $500,000 of taxpayer money to expand its operations?

http://www.saskatchewan.ca/government/news-and-media/2017/september/29/support-for-value-added-sector

[LWeber]

So AGT Foods is the most recent recipient of taxpayer money under the Saskatchewan Lean Improvements to Manufacturing Program, (SLIM).
The pulse processing company headed by Murad Al Katib will receive $500,000 to expand infrastructure used for polishing, bagging and conveying product (sounds like a new conveyor system).
Is it just me, or do the optics of this deal look really bad?
Does AGT really need $500,000 of taxpayer money to expand its operations?

http://www.saskatchewan.ca/government/news-and-media/2017/september/29/support-for-value-added-sector

AGT Net Income Sales
2008 $ 22,204,743.00 $ 328,672,293.00
2009 $ 29,940,646.00 $ 387,887,499.00
2010 -$ 15,419,405.00 $ 642,139,516.00
2011 -$ 20,966,295.00 $ 759,974,100.00
2012 $ 8,936,291.00 $ 855,325,000.00
2013 -$ 24,467,000.00 $ 1,138,773,000.00
2014 $ 19,542,000.00 $ 1,356,745,000.00
2015 $ 26,920,000.00 $ 1,704,480,000.00
2016 -$ 42,520,000.00 $ 1,973,204,000.00

TTL $ 4,170,980.00 $ 9,147,200,408.00

[ajl]

Several questions: Does AGT need it? Yes. This pig almost loses more money than Tesla. Will it help? No. Investment will be made in executive salaries. Can SK afford it? Absolutely not. The next generation does not need more debt to service.

[farmaholic]

Maybe we can all go the the Rider football games for free in the AGT corporate box/lounge or what ever the **** that area is called!

What about all the other value added processors in Saskatchewan?

[SASKFARMER3]

You can’t be buisiness of the year if in 10 years you only make 4 million profit on a 9 billion sales of product. Something is wrong.

New math again

[4GFarms]

I heard it was going to the infrastructure for the durum/pasta processing plant!!!!

[Quadtrack]

I'm no accountant, but the 9 bil sales number is not "their" product. It is farmer product that they bought for what 8 bil maybe. Cleaned it shipped it etc. So their product is really only the latter. The value add portion. To state the 9 as a sales number is completely misleading. The old CWB used to do the same thing remember? 6 billion in sales a year; largest seller of wheat in the world. No, maybe largest confiscation agent in the world. All the wheat board did was get someone to assemble the grain in a ship hold, send it somewhere and give some of the money back to farmers..it always was the farmers product and sale. Sounds way more important to state it like they did, --and like AGT is doing.

Profit from operations is what needs to be known. Selling cleaned raw product for a big number after buying uncleaned raw product for a big number is throughput.

[Quadtrack]

And should not get any govt money. None.

[sumdumguy]

Maybe we can all go the the Rider football games for free in the AGT corporate box/lounge or what ever the **** that area is called!

What about all the other value added processors in Saskatchewan?

That is ridiculous!

[the big wheel]

This is outstanding!! Go get another job lazy assholes we need to support struggling enterprises as such. While your working 16 hours a day have comfort the highly touted brilliant man is getting all this money. Yippee!!!

[macdon02]

If I had to guess what's wrong, getting blasted every time cad goes up.... just a wag with no evidence to prove it

[iceman]

X2 on the box seats

2016 losses could've been a hell on a lot worse if he didn't back out of all those red lentil contracts.

But hey some taxpayers money should cover some of the losses.

Iceman Out

[parsley]

I'm no accountant, but the 9 bil sales number is not "their" product. It is farmer product that they bought for what 8 bil maybe. Cleaned it shipped it etc. So their product is really only the latter. The value add portion. To state the 9 as a sales number is completely misleading
Profit from operations is what needs to be known. Selling cleaned raw product for a big number after buying uncleaned raw product for a big number is throughput.

Misleading? Hmmm. Let's have some fun! What about this...:


Buy 80% of the lentils cheap. Contract with a few high-profile farmers 👩🏻*🌾 👨*🌾 who can make things happen. A few farmers with needy wallets 👜 can be helpful too, to do a favour or two.

Clean and Process the lentils 🌱. Make them Instant lentils, bagged, portioned, all ready to cook.

Designate them charity packages. 🏆 Claim as a charitable expense in Canada. Ha.

Look for a huge-numbers buyer, 👨🏾*⚖️ (like, big...big enough to feed an army), who supplies, worldwide, instant portions to cook daily, easy to spice up. Ship them in ocean containers 🚢 to unload in transports.🚚 This is fun.

Dicker in cash 💰 so the value added product wouldn't reveal the payment is made overseas. Ask a friend 🤵🏻how to establish a trust foundation. Plunk the cash💰 into the trust fund. 😎 No one can access it. Heh. 🤑

Of course, it's risky 😲, but bothersome cash disappears in front of your eyes. 😈

This scenario is a figment of my imagination. 😳 A fun scenario, though, don't you think? IS so.

Quadtrack, moral of the story....there is always a way.......

Pars 😇

[dave4441]

You know the program Growing Forward 2 that paid for new fuel tanks and marketing plans for farmers? This is funded with 60% fed dollars from that same fuel tank and fert bin program.

[parsley]

Farmers worry about 500K grant?

Really? I mean really?

Now, sit back. Take a deep breath.

And really look at the numbers.

There should not be be one single corporate grain company, that isnt asking, "What the f*ck?".

Or farmer.

Pars