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43.0¢ mg unit trust

Worse Is Yet To Come?, page-324

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usc75

7,026 Posts.

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12/07/16

09:19

Post #: 18246501
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Originally posted by Amused observer ↑

Blimey, the early 80's is quite some time ago and back then the rules were different on so many fronts. Fonterra didn't exist, MG was a pure play co-operative, milk pricing was regulated, exports were not of significance and free trade agreements were rare and not well understood and we had limited "openess" of direct foreign investment from countries with an unbalanced predatory view of our markets. But, yes, even those days had their dark periods too.

My reference to Maffra/Leongatha was more around Phil and his strong support in the region...even though he is Yanakie based himself. If I look at all the current Directors and their current milk production capacity I still see a strong presence/control in the Gippsland region.

In this current debacle I back the australian dairy farmers and more so those that are caught up directly in the MGC situation as they supported MG and MG has left them to dry out (excuse the pun). It is not good and MG seems to have turned its back on its single source of raw input to stay in business in preference for the all mighty investment dollar to do what they could have done without them in the first place. They chased WCB using a debt facility and could have done the same here and yet they let themselves be listed on the back of an ego-driven frenzy to head up a listed company using artificial numbers and inflated FGMP the previous year to win votes to proceed to list units making MGC a basket case hybrid.

It really is certifiable headcase material...

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Very true...but those currently in power (for however long?) don't get it! Or don't want to admit to their 100% failure?

It's the so-called Independent Directors that also need to accept full responsibility...and resign too!

MGC Price at posting: $1.18 Sentiment: None Disclosure: Not Held
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