The evil that is Fonterra

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While Fonterra get NZs favourite rugby boof head to sing their praise in TV and while the industry tries to hide the damage they do to our water and environment by flooding the country with cow shit, these buggers have been caught doing this…

Mars, Kellogg’s and Fonterra push out payment times then lend to small business

Massive brands including Mars, Kellogg’s and Fonterra have been accused of extortion-like behaviour by Australia’s small business and family enterprise ombudsman.

In the course of Kate Carnell’s inquiry into payment times she has uncovered a pattern of global giants pushing out payments to small businesses and then offering the same small businesses loans to keep them afloat.

It is astounding that they can get away with this shit.

9 COMMENTS

  1. ” In the course of Kate Carnell’s inquiry into payment times she has uncovered a pattern of global giants pushing out payments to small businesses and then offering the same small businesses loans to keep them afloat. ”

    ————————————

    Isn’t that a form of loan sharking , … or a new method of financial ‘entrapment’ ?… who’s to say that because of these corporate’s withholding of payments that the small business goes into debt,- and then have to pay back money from these corporate’s that was rightfully theirs in the first place .

  2. I wonder how this is set up. Does fontera have a none bank deposit takers licence or a bank register? What ever it is the conflict of interest should have been enough to canceal either what with the changes brught about in recent years.

    The pace of technical change is astounding. I mean we can take john car keys amendments literally while understanding they have oposite meanings.

  3. That’s what the meat and wool boards have been doing to farmers for generations but in a slightly different way. The wool board, for example, took wool off farmers at the low prices which they, the board, set then stock piled it, thus chocking off supply to off-shore mills until they became desperate, and agreed to pay more for that wool, then, while that was going on, our reserve bank could fiddle with the values of foreign currencies thus win-win.
    Why farmers would expect different behaviour from the likes of fonterra is beyond me.

    ” It is astounding that they can get away with this shit.”

    The only ones able to do something about such swindles are the farmers themselves and they’re so buried in logical fallacies and Right Wing propaganda that they can’t see a way to make things right. They literally have no idea how to begin.

    It is interesting that the best political swindlers are also farmers.

    My first experience of media gagging and governmental corruption in NZ was in the late 1960’s when my father and mother were told be a reporter from a televised farming programme, that if ‘they’ aired an interview with my father re his ideas of unionising farming and becoming a part of a larger union and amalgamating with the farmers down stream service industry providers, that he, the reported ‘ would lose his job. ‘ ” I heard the reporter state ” If I go ahead with that interview Jack, I’ll lose my job.”

    • Why would Farmers expect different? At a guess… because Fonterra was established as a cooperative. That it isn’t behaving like that is down to the membership/shareholders or whoever owns Fonterra today.

  4. “Senior Defence Ministry staff told the United States Embassy that former Prime Minister Helen Clark had decided to send soldiers to Iraq to stop Fonterra losing lucrative Oil for Food contracts, WikiLeaks cables reveal.

    One of hundreds of leaked diplomatic cables, the information from the US Embassy in Wellington said the identities of the unnamed defence staff should be “strictly protected”, after they briefed embassy staff on a Cabinet meeting in which Miss Clark’s government did an about turn on sending troops to Iraq, the Dominion Post reported.

    “Senior MOD officials (strictly protect) tell us it was not until Finance Minister Michael Cullen pointed out in a subsequent Cabinet meeting that New Zealand’s absence from Iraq might cost NZ dairy conglomerate Fonterra the lucrative dairy supply contract it enjoyed under the United Nations Oil for Food program,” the cable said.

    http://www.newshub.co.nz/general/fonterra-contract-behind-nz-involvement-in-iraq-2010122007

    Another inconvenient truth from “The Unofficial Labour Party History Project.”

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