FNA letter re. Agricore terminal

[rook]

You probably all have this letter regarding FNA's intent to buy the terminal at Vancouver. I suppose I support the concept but this proposal has a lot of unanswered questions. The deadline seems pretty quick too at Jan 12, if I'm not mistaken.

What are others thoughts?

[melvill]

What letter are you referring to? Did you get a letter addressed to you individually or was it an open letter published in the farm press?

[charliep]

Is there a website people can go to the see this letter?

[Digger]

http://www.fna.ca/cms/

You can find out info here

[wd9]

If FNA buys the terminal and has the rights to Clearout, would the NFU call FNA a BBC (Big Bad Corporation)?

[TOM4CWB]

WD9,

Perhaps they could under cut the grain handling market... get the CWB's grain... and put everyone else (like Monsanto) out of business? LOL!

The CWB should have already bought this terminal... and were offered the finances to do so. AND MORE... much much more.

Funny how FNA has not stopped Monsanto from being profitable and selling their Roundup products!

[rook]

I just received the unaddressed letter yesterday, with a deadline of Friday, Jan 12, 2007. However, when looking at the website, this is not news, as all the meterial I received was on the website in Nov 2006. Not sure what that says about Canada Post?

Anyways, I get the impression that they are having a tougher time raising money than initial consultations with farmers led them to believe.

[BennyHin]

I Agree with you TOM4CWB. The CWB could have and should have bought that terminal. There is $60 million in Pricing options contingency that would go a long way into financing it.

The CWB could have offered shares to farmers and inland terminal owners. Dividends would then be paid back to these shareholders at the end of each fiscal period.

This was a lost opportunity.

[nicolaas]

Buck up guys, I just sent in my check for 1000 tonnes. This is a once in a lifetime opportunity - they are making their bid sometime in February. Would be nice to have enough to buy the terminal. They are hoping to keep most of the staff on. It seems like a win/win. May be the only way to send producer cars when CWB goes the way of the dodo...I know agricore don't like me using them. Look what they have done for farmers with their clearout program and their generic pour-on. If its a no go, you get your money back. Send in your check today!!

[craig]

BennyHin
If we are to use the contingency fund to buy the terminal and offer shares to producers I'm wondering if those of us who so generously donated to the fund by using the PPO's would be entitled to any more than those in the pool accounts who have contributed nothing.

[northfarmer]

I am not FNA amember but applaud any producer or commerical driven interest that would make the west coast more competitive....this is why the Feds will not back off on forcing the sale even with heavy lobby by AU....

well said Craig....the contingency funds were not developed to be used for whatever...it was supposed to be a contingency fund for PPO's....clearly based on talk and actions by some BOD and CWB staff it is only a slush fund to be used at their discretion...and for their own means, inlcuing topping up ool returns when the skim too much money off me and others who use PPO's

[craig]

Some meetings in Alberta next week re this. Edmonton on the 12th Medicine Hat but not sure when.

[BennyHin]

CRAIG:

Yes, those of us who used those programs that contributed to the surplus should be offered the shares.

[thegrainguy]

What would FNA use this terminal for? WHere are they going to get the grain to run this terminal. Producer cars will never be enough to keep it profitable.

[wedino]

Farmer owned inland terminals?