In the past few months Fonterra farmers have been seeing TAF (trading among farmers) for what it is: a Trojan horse. Though superficially attractive on the outside, it contains those very things which will destroy their life.
To read more, download: trojan-horse-for-investors.pdf
Education has been an espoused core value of cooperatives for over 150 years. In practice many cooperatives have failed to give effect to it. The consequence has been the withering away of those cooperatives.This paper identifies the diversity of needs of people within and outside cooperatives.Two case studies are presented of successful education programmes in which the author has been involved. They show how the challenges can be overcome. The lessons are applicable internationally.
To read more, download: cooperative-education.pdf
Christchurch suffered a magnitude 7.1 earthquake on 4 September 2010, a 4.9 on 26 December 2010 and a 6.3 on 22 February 2010. The last one was much closer to the centre of Christchurch, was shallower and caused much more damage and loss of life. In total over 5,000 quakes or aftershocks have been recorded locally since 4 September.
My wife and I are safe and well but our home has been severely damaged.
Phone communications are a problem so please do not try to contact me that way. Email seems OK but I may be a little slower than usual at responding owing to the time being taken up relocating to alternative accommodation.
Alan Robb.
In October 2010 the directors of Wool Partners Co-operative Ltd were confident they could attract subscriptions for at least $65 million of shares by Novermber 30.
They did not and the closing date was twice extended.
An amended prospectus has now been issued.
While it does contain 30 pages of the additional financial information which was absent from the October prospectus not all of the questions have been answered.
To read more, download:wool-questions-remain-unanswered.pdf
The growing body of literature about women’s experience of the working environment indicates that women have different experiences to men.
This study provides experiences of women accounting academics and students as an accounting department became a much less male-dominated domain.
Many graduates perceived gender discrimination when they entered the business world, and female academic staff at appointment and on applying for promotion.
To read more, download: lord-robb-acc-hist-paper.pdf
Wool Partners Co-operative is seeking $65 million from wool producers but can they be clear what they are signing up for. I think not.
To read more, download:wool-partners-co-operative-in-principle-short-on-info.pdf
Critics of Wool partners International Ltd (WPI) have been circulating an analysis which makes for interesting reading.
The document claims that the forthcoming float will be financing “a loss-making wool business which has yet to prove itself.” It also alleges that PGG Wrightson “will have made considerably more money from financing the sale of their wool business than they ever made from it trading”.
To read more, download: prospectus-must-answer-pertinent-questions.pdf
In July 2009 I addressed the U3A on the Global Financial Crisis. Now, in September 2010 I review the situation as I then saw it; reflect on what has happened since July 2009; and offer some views on prospects for investors in the next few years.
To read more, download:shareholders-association.pdf
Fonterra’s farmers voted almost nine to one in favour of abolishing their right to redeem shares and to allow trading among members.
The board and management worked hard to achieve this victory, but I doubt whether it will achieve the stated objectives of strengthening the balance sheet.
To read more, download:
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