Here is a funny statement...

[bucket]

“At the Canadian Grain Commission, we take producer protection seriously. We have taken several steps to protect the rights of producers who have delivered to Ilta Grain Inc. including visits by our auditors and inspectors to obtain information and documentation, starting the claims process, and negotiating an escrow agreement.”



The fact is the guys that got booted from management probably got paid before any producer that is owed money...

If they took their job seriously ...this wouldn't have happened...its all after the fact....reactive not proactive ...with a 130 million dollar slush fund at the CGC...

[bucket]

If anyone read the PWC monitors report on ILTA ....what a bullshit outfit they were...even PWC should be questioning what they wrote...

6000 tonnes of storage at a site and they say an 80000 tonne annual capacity ...no one in the grain industry does 12 turns a year...

Belle Plaine had 20000 tonnes of storage with a 134 car loop and 350000 tonne capacity....the industry standard isn't anywhere close to 17.5 turns ...nor would the railways allow it...

The monitors assessment isn't even believable ...

And if they were doing these turns ...why are they under court protection???????

[farmaholic]

Isn't taking something from someone and not paying for it considered theft?
Isn't issuing cheques for something you bought and knowing the cheques won't clear a bank considered fraud?

[bucket]

Not in today's world...its consider ethical and good business practice...

Just like the second time these guys rolled farmers ....

And there is a whole bunch of second generation farmers that are going to use their dad's ethical business practices to roll the young guns at FCC with some fantastic stories of growth.....

I would say this ...If JP Gervais isn't looking for a job along with the others that signed off 93 million from FCC for what ILTA built ..there is something wrong ...and.....they shouldn't be pestering too many farmers that have legitimate production issues....

93 million would built two 45000 tonne high throughputs with a 135 car loop...with the ability to do 7 turns a year for about half million tonne capacity...if the railways co-operated....

[bucket]

They should have bought a railway ...then they would have got government money...or at least got to know a few politicians .....