Purely Canada Foods Corp

[the big wheel]

Someone tell why when we had a majority conservative government all this wasnt changed to insure farmers get paid if not the day of delivery the next? A clearing house situation is not a difficult thing to set up, electronic transfers are almost instant. In fact they made the rules even easier for us to get hosed. The current gov has no clue whats going on or care for that matter but what the hell do we have all these MPs and even our provincial ag people collecting a paycheck representing who? Name an MP or MLA who has spoke up on our behalf about this?????

And as far as land ownership who is overseeing our provincial gov on whos owning sk land? Who watches for under the table payments for land deals to be approved that shouldnt be? Who follows the money in that case of black rock china india russia etc?
Is there anyone or group that follows bank accounts of politicians? JMO asking for many friends.

[jamesb]

Someone opened an account on twitter about the time this went bad and started posting this msg;

@LamaElly28641 ([url]https://x.com/LamaElly28641)[/url]

Above food owns Purely Canada Foods. Bite Acquisition Corp owns Above. Smart Dine LLC owns Bite, black rock owns 56% of Smart Dine. Blackrock owns over 300k acres on the Regina Plains alone. Right under your noses

Ya this is kinda strange. It would be interesting to see the full story come out . the following news is connected too.

Above Food and Bite Acquisition Corp. Announce Completion (globenewswire.com) ([url]https://www.globenewswire.com/news-release/2024/06/28/2906129/0/en/Above-Food-and-Bite-Acquisition-Corp-Announce-Completion-of-Business-Combination.html[/url])


I not one to be offended by new big players in ag in western canada, whether on the buying side or the farming side. That being said, if there is "hidden" outside money coming into the equation that have goals somewhat different that the traditional family farm and processors that have a clear flowchart of ownership. On one hand when I see big money putting assets into the farming sector, I think that we must be in the right business if they see potential. On the other hand massive dollars infusion can really upset the stability if this is not thought thru. Lots of people are going to get burned.

[Herc]

Hate to say, if we were all like you grain company margins would be extremely one sided, and very wide.

The special crop industry has brought competitors to the market that created both market diversity and competition for your commodity.

Today more than ever the FSU states sell cheaper and deliver in a fraction of time, we need diversity to give us marketing options.

Indeed the 1998 SCRIP plan should be rebirthed and demanded, but it will not be, because the same dumb ass farmers, associations and protective companies that defeated it would kill it all the same.

We get what we deserve.

Did u read what I wrote? If we were all like you and thought it was acceptable to wait for a payment for months, or acceptable that I am not at the delivery point watching my grain being graded or sampled, there would be far more pissed off farmers…..two can play that game….

[wrongway]

I've only used the big grain companies since Palliser went under. fortunately they were bonded and I got paid out eventually.
The real kicker was that the carload of flax jumped in price by the time I was paid. Also I filled that friggin thing in -35C weather.
Well the best lessons learned are those that cost you.

[the big wheel]

When we purchase anything we have to have cash on the spot or equivalent of credit card, or we need to give our land as security for things our land should never have to be given for, we need our credit rating looked at, and yet when we sell our grain meaning the other side is buying it, we deliver it they dont even have to pick it up and are supposed to just accept a when ever we can payment system with no knowledge of what the credit ability or asset ability is of the people purchasing? At the very least if our politicians arent smart enough or arent actually concerned about fairness for us there ought to be a credit report, net worth report posted on demand from these buyers daily. We ought to also have availability to assume all assets these people have including personal since that basically is what has been required by farmers thanks to many changes made by our federal and provincial governments that favor the businesses we deal with. take for example filing for a cash advance, you need your life history and current history and have to give everything including the kitchen sink as security.

buyers should have to post daily their net worth, the outstanding payments they have to make, what is their longest not paid for transaction, who they are getting their payments from.

Every situation is different but I would expect most people would have known long before their bond revoked that they were in trouble is this not theft? When your taking peoples grain/property knowing you have no chance of paying for it this would have been going on for months wouldnt it?

[blackpowder]

Some people definitely knew 8 months ago.

[westernvicki]

Dear Herc;

Beef has two major players. Net margins as high as 82% have been logged in this industry.

Grain industry margins are the result of competition.

For instance, let's consider the current export pea bid. Most bids are between 9 and 10$ dollars for export, while domestic fractionation peas are bid at a dollar higher. This example illustrates the price gaps that exist in the industry.

Ukraine sold peas at 240 USD/mt delivered; you do not need to understand the full gamut of costs in this number to know it will not work for Canadians.

For the industry to be diverse it is necessary to support a diverse marketplace.

Without diversity not only do we have widening margins, but we have reduced cropping choices.

It's no secret to the value-add sector that the USA is after investment in agribusiness companies can easily move! The carbon tax alone adds a burden of non-competitiveness in processing and distribution.

The farmer protection system of license and bonding is not bankable and never was.

Why do we need to have all this damage before we change an antiquated and ineffective system?

[iceman]

Has anyone looked into ABVE insider trades?

Iceman out

[blackpowder]

because the same dumb ass farmers, associations and protective companies that defeated it would kill it all the same.
Kudo's for saying that out loud.

[consuelo]

iceman... how do we find that out?

[biglentil]

I looked no information available, typically 180day hold on shares from an IPO.

[iceman]

Anymore news on this?

Lionel scowling the earth for more dumb investors?

Iceman