I hope you have enjoyed Christmas and the good rain we got in Taranaki was shared around.
Please read some further constructive thinking covering a range of issues in the restructure debate. It is encouraging to see that shareholders are continuing to consider the merits, or lack of them, of the Board's Preferred Option.
I also draw your attention to a couple of interesting articles in the Dairy Exporter. John Shaskey has been a valued member of Dairy Industry Management team for many years. The article covering his views is a valuable read.
The article at the bottom of page 18 of the Exporter also makes very interesting reading. Bruce Sheppard suggests a float of Fonterra would not succeed and that 'a fundamental break was needed with the cooperative model if the proposed corporate was to be attractive to investors'. I would contend that with the hype that currently pervades the Dairy Industry, the float would initially be very successful but, very quickly, there would be pressure brought to bare exactly along the lines Bruce is suggesting.
All the best for the NEW Year and 2008.
Regards,
Harry Bayliss.