WCE Agreement for Sale

[padron]

Everyone has an office in Calgary - even SWP. Their new corporate headquarters perhaps?

WCE staff and management to remain in place as ICE move is designed to secure trading volume on their exchange and clearinghouse. But once current owners relinquish their shares they are not likely to remain on the Board. My guess is that ICE will populate it to the extent they need to.

[chaffmeister]

Gagne told me today that he expects the management to remain intact and eventually the board will get smaller. And yes, padron, likely a different group of individuals.

[Burbert]

What an odd way to do business! Leave the old staff in place for a while, till you learn the ropes, then replace management with your own people. Start firing. Duhhhh, I think it is called restructuring. Wow what a new modern way to conduct business. I'm certain farmers stand to benefit in a huge way, from this change. Lets all get on the band wagon and suck up, quick now, somebody else may get a head of you guys..........

[chaffmeister]

What are you talking about Burbert? Do you even read the other posts before you type something?

[padron]

From what I've seen from your posts Burbert it is very evident to me that you live in a very negative space - the cup is half empty. You really do need to take a look at your context on the world.

To clarify, Board members are not staff. In the case of WCE they are representatives of most of the major grain companies and Securities firms along with some external representatives. They will be replaced by ICE representatives because ICE is going to be the new owner. Much the same as you would farm new land you purchased from someone else. They wouldn't continue to farm it after you buy it from them.

WCE staff will remain and my guess is the trading volumes are going to increase - especially with deregulation. This may or may not require an increase in staffing. This potential sale of the WCE to a private entity follows a string of these acquisitions around the world and brings stability and innovation to the WCE at a very opportune time. They will now have access to private sector capital to expand and offer more risk mitigation tools to farmers in western Canada. It really is a very good piece of news.

[chaffmeister]

Burbert's cup is not half empty - it's completely empty.

[wd9]

Also a board and management familiar with the culture, goals, and understanding of the parent company makes for a better company and in the end a better exchange. That is a good thing.