G3 Vancouver

[TASFarms]

I think they had pensions to pay plus pay out rail cars that after 30 years of lease payments they were not paid off and of course the scam of maintenence costs....

It's crazy that farmers had nothing at the end....same will happen with G3

You would think someone or some people should be held accountable.

[bucket]

You would think someone or some people should be held accountable.

They did hold him accountable.....they elected him to the AG Hall of Fame....

[foragefarmer]

Ritz Cracker could have gave 100% of assets of the CWB to the Saudi's and wouldn't have heard Boo from his base! To busy parting in the streets.

I don't think there will be any money flowing to farmers of any sort in the future from G3, but why should we be surprised when the negotiator was a failed Ostrich farmer.

[bucket]

Ritz Cracker could have gave 100% of assets of the CWB to the Saudi's and wouldn't have heard Boo from his base! To busy parting in the streets.

I don't think there will be any money flowing to farmers of any sort in the future from G3, but why should we be surprised when the negotiator was a failed Ostrich farmer.

Sadly I thought the base support took care of the no brainer things like mandatory reporting ....they didn't and still don't understand the reason for it...

While we may disagree on things on this forum...I will put up my hand and say I was mistaken about the elimination of the CWB ...mostly in the way it was handled...not that it didn't need changes...

But the outcome was a real kick in the balls for farmers....some are still too stupid to realize how shitty of a job was done in the transition...probably the same group that elected Ritz to the hall of fame...

ANd Ritz did give the CWB to the Saudis for SFA.

Imagine this...close your eyes....Canada goes over to the middle east with troops and expenses bullets and the Saudis come here and builds assets in Canada using the 275 million they supposedly paid for the CWB assets...just a bit stupid in my little hamster wheel spinning between the ears....

[WiltonRanch]

Sadly I thought the base support took care of the no brainer things like mandatory reporting ....they didn't and still don't understand the reason for it...

While we may disagree on things on this forum...I will put up my hand and say I was mistaken about the elimination of the CWB ...mostly in the way it was handled...not that it didn't need changes...

But the outcome was a real kick in the balls for farmers....some are still too stupid to realize how shitty of a job was done in the transition...probably the same group that elected Ritz to the hall of fame...

ANd Ritz did give the CWB to the Saudis for SFA.

Imagine this...close your eyes....Canada goes over to the middle east with troops and expenses bullets and the Saudis come here and builds assets in Canada using the 275 million they supposedly paid for the CWB assets...just a bit stupid in my little hamster wheel spinning between the ears....

I see a parallel with the dismantling and subsequent gifting of the cwb to the protests going on in the states. Most of us were bloody glad and still are the cwb was put to pasture but our hatred blinded us to the fact we were screwed out of our own assets. The protesters are burning down their own infrastructure in hatred. Mob mentality makes about as much sense as quantum physics

[LEP]

I am not sure I follow the bitching on this. Supposedly farmers own 49.9% of this entity. Someone comes along and buys half of the company with plans to expand with major capital Investments. Those plans would require cash from all the shareholders as well as debt financing. So since it would be impossible to collect a cash call from farmers trust the sale proceeds were left in the company on farmers behalf.

I don't see it as giving anything to the Saudis. It was given to those that obtained Farmers trust shares. It may or may not turn into anything. Personally, I don't haul to G3 unless they are the best price in town. But that is me.

[wmoebis]

I am not sure I follow the bitching on this. Supposedly farmers own 49.9% of this entity. Someone comes along and buys half of the company with plans to expand with major capital Investments. Those plans would require cash from all the shareholders as well as debt financing. So since it would be impossible to collect a cash call from farmers trust the sale proceeds were left in the company on farmers behalf.

I don't see it as giving anything to the Saudis. It was given to those that obtained Farmers trust shares. It may or may not turn into anything. Personally, I don't haul to G3 unless they are the best price in town. But that is me.

Maybe it was a good deal we will never know what was involved because of secrecy. Would you do the same deal with your farm without knowing the whole deal? Except in this case you wouldn't have any say or even see other offers.

[LEP]

Maybe it was a good deal we will never know what was involved because of secrecy. Would you do the same deal with your farm without knowing the whole deal? Except in this case you wouldn't have any say or even see other offers.

Nope I sure wouldn't. But can you claim we ever had any say in the previous entity either? Seems to me secrecy was the modus operandi of the CWB.

How much say does shares in RBC give you? Yes terms are disclosed in an annual statement, but after the fact, so very little recourse.

How many publicly traded companies have you owned that did bad deals? What was the recourse there? Wonder what the recourse for BASF shareholders for taking on Monsanto legal liability?

I had written off getting anything out of value of the sale of CWB. If they had sent out cheques what would it have amounted to $1,000 a piece?? At least there is a new terminal at the coast and some new concretes inland which should provide some competition for the families. It was more than any group of farmers could have done on their own.

[bucket]

Nope I sure wouldn't. But can you claim we ever had any say in the previous entity either? Seems to me secrecy was the modus operandi of the CWB.

How much say does shares in RBC give you? Yes terms are disclosed in an annual statement, but after the fact, so very little recourse.

How many publicly traded companies have you owned that did bad deals? What was the recourse there? Wonder what the recourse for BASF shareholders for taking on Monsanto legal liability?

I had written off getting anything out of value of the sale of CWB. If they had sent out cheques what would it have amounted to $1,000 a piece?? At least there is a new terminal at the coast and some new concretes inland which should provide some competition for the families. It was more than any group of farmers could have done on their own.

The SWP morphed into Viterra after swallowing agricore/UGG when they said they were broke...

SWP was never broke they just set in place a process to swindle farmers....

Ritz was an easy play with the transition because he was stupid and was getting the rah rah from his base...

There is no transparency in the grain industry in Canada .

Most days I can read or hear on the radio about a US sale of soybeans , wheat or corn to china or unknown destinations and for which delivery period...and its impact on the market...

No such thing is done in Canada ...so when the chinese bought a shitload of wheat from Canada...did many farmers know about it until it was halfway to china on a boat....any premium to that sale????who knows.

While I think G3 will pose a bit of a threat to the families for a while...I see in some cases they are having tea with them as well..

As an example...G3 is building a new elevator in Swift Current ...they have obviously worked an agreement to take a slice of the other 5 in that area...not real competing...more like colluding.

[LEP]

The SWP morphed into Viterra after swallowing agricore/UGG when they said they were broke...

SWP was never broke they just set in place a process to swindle farmers....

Ritz was an easy play with the transition because he was stupid and was getting the rah rah from his base...

There is no transparency in the grain industry in Canada .

Most days I can read or hear on the radio about a US sale of soybeans , wheat or corn to china or unknown destinations and for which delivery period...and its impact on the market...

No such thing is done in Canada ...so when the chinese bought a shitload of wheat from Canada...did many farmers know about it until it was halfway to china on a boat....any premium to that sale????who knows.

While I think G3 will pose a bit of a threat to the families for a while...I see in some cases they are having tea with them as well..

As an example...G3 is building a new elevator in Swift Current ...they have obviously worked an agreement to take a slice of the other 5 in that area...not real competing...more like colluding.

SWP didn’t morph into Viterra, Glencore paid billions for assets. Not sure what Ritz had to do with that. Shareholders took the hit as there was almost zero equity.

So building where there is other elevators isn’t creating competition?? I am quite sure they will all do what they have to, to keep their Respective plants full.

Twisted logic isn’t economic theory.