Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Global Co: Vote

MEDIA RELEASE

Farmers for a Better Dairy Deal

18 June 2001
Global Co: Vote

“It is pleasing to see such a strong turnout and a decisive vote by farmers on such a key issue, said Mark Masters on behalf of Farmers for a Better Dairy Deal, responding to the provisional results announced today by Kiwi and NZ Dairy Group.

“We have done our best to ensure that farmers had all the relevant information in front of them before voting, including some discussion of the alternatives. We believe Global Co, in its present form, won’t achieve the strategy or the vision agreed by industry leaders in 1999.”

“It lacks so many key features required to deliver that strategy”.

“If Global Co is serious about becoming one of the top five dairy food firms in the world within five years, it will have to change significantly over the coming years”, said Mr Masters.

“It will have to access outside (non-farmer) share capital. It will have to become highly consumer-focused, not production driven as we have been for the last 60 years. It will have to radically re-shape its culture.”

“We believe industry leaders know are aware of these realities.”

“It will be interesting to see how well the Government can deliver its monopoly-safeguard regulations”, observed Mr Masters.

The chances of implementing regulations to effectively counter Global Co’s domestic monopoly are not high.

“The Government will be on the back-foot now that the industry leaders have the farmers’ vote behind them.”

The Government does not have a goo track record in dealing with monopolies in NZ. (Look at how long Telecom managed to keep Clear in a corner).

“Farmers will need to be extremely vigilant in monitoring Global Co’s performance. The sad reality, however, is that 14,500 dairy farmers can’t do it – the information and balance of power is so lop-sided.”

“We now have to make the best of poor decision”.


ENDS
Inquiries to:
Mark Masters (06) 765 7544 Hilary Webber (07) 827 1739

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news