Alan Robb

Capital in a co-operative business differs from capital in an investor-owned business both conceptually and in terms of behaviour.

 To read the full paper, presented at an international conference in Trento, Italy, download: Co-operative Capital: What it is and why our world needs it.

For a one-page summary of the differences between co-operative capital and investor capital, and the future directions for co-operative capital, download: Characteristics of Enterprise Capital

Step three of Fonterra’s capital restructuring moves the co-op further away from being an organisation focussed on benefits to members and closer to the day when it will be demutualised and become a large investor-owned company.

To read more, download: Step three - you pay for it

The increasing mobility of information, people, and employment has created a need for comparability of knowledge and for universitiesto respond by becoming less parochial and more international in the operations.

Such pressures for standardization undermine the “nation-building” role of universities as the focus is shifted from the needs and norms of local society to the needs and norms of the global economy.  The nation-building role has lost its potency, as vested interests exercise power through tentacles wrapped around resources for which revenue-strapped universities must compete.

In Chapter 11 of Volume 1 of  The Business of Higher Education, (John C Knapp and David J Siegel, editors) published by Praeger Perspectives, Judy Nagy (Deakin University, Australia) and Alan Robb (Saint Mary’s University, Canada, and previously of the University of Canterbury, New Zealand) consider the dominant influences that impact on the provision of university education in Australia and New Zealand.

To read more, download: The Capture of University Education

Address to the delegation of Directors General from the Investment Promotion Bureau, Guizhou Province, China.  Christchurch  March 3, 2010.

 To read more, download: Agricultural Industrialisation

Step  three of Fonterra’s capital restructuring proposal strikes at the heart of cooperative principles and will undoubtedly be strongly opposed. Removing the obligation from the co-op to redeem the shares of exiting farmers would make Fonterra into a de facto investor-owned company.

To read more, download:  Let’s not think short-term

To read more

At last the Fonterra board appears to be listening to its members and critics about its capital structure.

The present proposals do not involve a public listing.  This is an about-face from the very clear preference of the board in the aborted 2007 proposal.

To read more, download: Wanted: clarity about value return

Fonterra’s preliminary announcement of results to July 31 shows improvements on three main fronts.  The level of debt is down, inventories are also down and milk prices are up.

To read more, download: Second half improvement may help capital proposal

The proposal that the city council should fund the construction of a new building at the Arts Centre for the University of Canterbury’s School of Music is generating controversy.

The dominating bulk of the design and its adverse impact on existing buildings have been criticised by Chris Doig (June 26) and John Wilson.

Of equal concern are the financial aspects.  There are hidden downsides for the university, the Arts Centre and the ratepayers.

To read more, download: Finance flaws in music school plan.

The present global financial crisis is likely to be long-lasting and severe.  It has already been acknowledged as being as serious as the Great Depression of 1929-37.  In my view it will have an impact close to that of the Long Depression of 1873-96.

Despite that, it does present a number of significant opportunities for mutuals and cooperatives.

To read more, download: Mutuality in uncertain times

The success narrative produced by New Zealand’s largest listed company, Telecom (NZ) Ltd, since its privatisation and listing in 1991 is centred on shareholder value.  However, its financial reporting practices seem increasingly complicated and difficult to comprehend.

This paper questions the effect of privatisation.  It also demonstrates the use of accounting and financial reporting practices to support a success narrative which results in resource transfers to the potential detriment of those involved in, or affected by, the company’s production activities.

To read more, download:  Financialisation: Constructing shareholder value … for some.