Thge Blocking of Graincorp Sale

[Foo]

I for one am glad that some common sense has prevailed and this was not allowed to happen. It is one of the only food supplier/storage left in Australia that we have control over. 

Meat, Dairy, Vegetables as in processed is not in our control.  If they want to have investment in these things, then let it be only 49% not bloody 100% controled, because these foreign companies don't give a flying fork about our farmers needs but only shareholders being happy. 

If anyone doubts this then get out in the real world and see how screwed over our farmers are. Our producers along with NZ producers are the most efficient in the world but are continually forked over by Multi National Companies along with the like of Coles and Woolworths but that is another story. 

Ok your thoughts!

Foo

[Mace]

I've done a lot or reading about this today.

http://www.theage.com.au/business/ruling-that-went-against-the-grain-20131129-2yhey.html

http://www.theage.com.au/business/grain-of-doubt-over-national-interest-case-20131129-2yh6n.html

Interesting to see what will happen with qantas, I doubt it will survive in its present form as it can't raise any more capital in its present 51% Australian form.

Problems may happen in the same way in the future when grain corp wants capital to upgrade aging infrastructure. It's net worth has fallen by 25% since the decision. This will make it harder for it to borrow funds at a competitive rate overseas.

Yep, it's a balancing act, deciding how much of the farm to sell of, particularly when competing with other farms ( countries) that don't have a level playing field.

What interests me tho, is that I reckon most graincorp shareholders, Australian farmers, would have taken the $$.

Interesting topic. 

[Foo]

Due to what I do for a job = cart grain as part of it none of the blokes I spoke to wanted anything to do with the sale. I listen to ABC Rual reports nearly everyday also and the over whelming thought there was also, not in our interest. 

Graincorp through the halwit management over the last 10-15yrs had no forsight on the management of it's sites. (top heavy dumbarse pen pushers) and this is the only reason why, their infrastructure has declined.

Strange how the WA grain company (privately owned) can compete very effectively on the international scene very well! 

In the meat industry, our best cuts go overseas, I know this because I cart out of one of the abattoirs owned by an American company. 

I'm not against investment in our industries but we should never give over our majority control, because they will only ever, have their share holders and nations best interest at heart.

Foo

[Garfish]

Was a little bit disappointed with this.  All public listed companies are about their shareholders not necessarily their suppliers (in this case the farmers)   I notice that Nab and Amp are substantial holders. 
In a way it is like the current position in Qantas, and all the talk of a national carrier,  if we want a national carrier than we shouldn't had sold it in the 90s. 

Would I prefer Everything to be Aussie owned yes, but a choice between closure and owned by international and jobs staying then the latter anytime. 

[GeoffA]

......It's net worth has fallen by 25% since the decision. This will make it harder for it to borrow funds at a competitive rate overseas.
........

Mace, it's net worth rose sharply by the same amount when the idea was floated.
It's net worth is now back where it was before all the hoo-haa.......