Tuesday, 15 June 2021 14:00

Cracked China

Written by  The Hound

OPINION: Your old mate reckons Fonterra and its dairy farmer shareholders may well be all cock-a-hoop about the prospects of a near $8 payout this year and one north of $8 next year.

However, he suggests these giddy, high payouts mask a major issue the dairy co-op appears to be glossing over - the total, absolute failure of its Chinese investments.

Starting back with Fonterra's ill-fated investment in San Lu, followed by the disastrous Beingmate and China Farms ventures, billions and billions of shareholder funds have been lost.

Yet, no one - either on the board or from the executive of the dairy co-op - has ever been held accountable for these disasters.

Some blame former chief executive Theo Spierings.

Others point the finger at former chair John Wilson.

But that it is too easy, as a dead man cannot defend himself. What about the board directors and management at Fonterra who are still around?

More like this

'LinkedIn Greens'

OPINION: The same mainstream media muppets that brought you Jacindamania in 2017 have been flat out pimping for the Opportunities Party, labelled by some as the 'LinkedIn Greens' for their corporate spin on Green-esque 'tax the rich' policies.

Featured

National

Machinery & Products

» Latest Print Issues Online

The Hound

'LinkedIn Greens'

OPINION: The same mainstream media muppets that brought you Jacindamania in 2017 have been flat out pimping for the Opportunities…

UK Warning

OPINION: Your old mate reckons the atrocious way farmers in the UK are treated by their lords and masters in…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter