Future of first milk
- Thread starter supercow
- Start date
supercow
Member
- Location
- Dumfriesshire
Iv never seen a 13th payment! First milk have got rid of all the crap and concentrating on making good cheese and maintaining brokering contracts @coomoo hence the improving price. Slight cut in May of 0.35, 26.5p paid in April. Nothing more demoralising than getting almost 1000 taken off when the shares were as cheap. The shares we bought in November have pretty much paid themselves already @Cuckoo's nest have u looked into buying preference shares?
supercow
Member
- Location
- Dumfriesshire
I don't know about anyone else but I'm fairly content with first milk at the moment, muller on 27, us personally would be getting roughly 24 with Arla. Yew tree 22 pence or whatever, not sure where else I'd go
Cuckoo's nest
Member
I have, but as I am putting up a shed and buying some more cows I need the cash for that.
A local producer to me has put a proposal to the Board and the Member Council that to reward the loyal members who stuck by FM and took all the pain of the last 2 years low prices and massive capital amounts kept off us, that FM should issue bounus shares in recognition of the contibution to the turn around and survival of FM.
So far it has been knocked back but it is very likely that few if any members know about this proposal ,as there seems to be a lack of a platform to let members know what is going on behind the scenes, like the discussions they are having about changes to the profile adjustment !! Come on Member Council get off your erse and speak to members or start a members blog so we don't have to do it on here !!
So far it has been knocked back but it is very likely that few if any members know about this proposal ,as there seems to be a lack of a platform to let members know what is going on behind the scenes, like the discussions they are having about changes to the profile adjustment !! Come on Member Council get off your erse and speak to members or start a members blog so we don't have to do it on here !!
Good idea about the blog, I've thought that they should have a members forum. The newsletter is very polished, and any meetings are in about 3 locations, so limit the chance of many people going, so an online interactive thing could be useful. Trouble is, they might have to start listening to members, and they don't really want to, do they?
Married 2 The Mob
Member
- Location
- E. Midlands
Also agree about a blog.
The member council is my main disappointment with Fm, it doesn't seem to deliver the connection with the membership that was promised.
Not sure about the share idea.
If they issued more shares, without fresh capital coming in to back them up, from the likes of Cuckoo's nest expanding, or ( don't laugh) new members. Would it not devalue the shares already in existence?
So we'd be no better off?
The member council is my main disappointment with Fm, it doesn't seem to deliver the connection with the membership that was promised.
Not sure about the share idea.
If they issued more shares, without fresh capital coming in to back them up, from the likes of Cuckoo's nest expanding, or ( don't laugh) new members. Would it not devalue the shares already in existence?
So we'd be no better off?
They've had a form of loyalty scheme years ago, and had to stop, as if they went to an ex member to try and re recruit them, the answer was 'you did me out of 0.5p for the last six months I was with you, get lost'. Not such an issue now, as any one leaving is unlikely to return. Furthermore, my business is leaving, having been loyal for 22 years and put up with the last two years, which has nearly finished us, not because of a whim, but we just daren't get caught again.
supercow
Member
- Location
- Dumfriesshire
That's a great idea @westwards I think the board would benefit from an online forum. I do think they listen to the members, just look at the haulage cost per litre and changing the home factory of producers. In a way I wanted them to not change the home factory cos we were leaving if they didn't and if we left I think I'd sleep better at night! @O'Reilly I agree we would simply not be able to stand another shitstorm like the last one. Banking on them not putting us through that again.they do kind of have a loyaltys bonus in the haulage cost, if we left we would be down 1.2pence on the year. Where r u leaving to @O'Reilly ? I don't blame u for leaving
Arla
Cuckoo's nest
Member
I am also disappointed with the member council, I missed the consultation about the council if there was one when the governance changes came in. And I wrongly thought that all the council along with their new chairman Sean Rickard would come round and meet members to ask what we wanted and shape the way they work for the benefit of members, according to this forum there was hardly a big turnout at any of the meetings to vote on anything AGM or governance changes, so lots of work still to do to get members connected.
The proposal about rewarding members must be looked at and discussed more, there must be some way to recognize the contribution that ordinary members have made, it can't all be just well paid staff and the now departed CEO that get all the rewards and bonuses.
Also remember ex members still with capital in FM ,who left years ago,before the recent debacle,but have capital frozen in FM .
Cuckoo's nest
Member
Its not frozen I will give you 6p per share if you like, Its the one's who waited with FM and bailed them out I am bothered about, not those who left and got a better contract.
supercow
Member
- Location
- Dumfriesshire
I feel the same @Cuckoo's nest the guys who left pretty much weakened first milk so they really should have thier shares devalued. They aren't the ones who bailed fm out and have it in the shape it is today. They don't really have capital frozen they have capital worth the amount someone is willing to pay.
supercow
Member
- Location
- Dumfriesshire
I think the best way to get members views accross to the board is an online forum, then u get the golden oldies complaining they don't know how to work a computer! I don't mean to offend anyone here but ur better off banging ur head against a brick wall cos there always going to be someOne not happy!
I feel the same @Cuckoo's nest the guys who left pretty much weakened first milk so they really should have thier shares devalued. They aren't the ones who bailed fm out and have it in the shape it is today. They don't really have capital frozen they have capital worth the amount someone is willing to pay.[/QUOTE
Sorry,not true.Shoddy governance and poor management was the cause of FM's woes.I'm glad it appears to have turned a corner so that I may one day get all my investment out,as per ARLA
supercow
Member
- Location
- Dumfriesshire
FM could issue as many shares as they like to active producers who produced milk to keep FM afloat, and at no cost to the company.
It might however devalue the shares already held by members and producers who left or retired, they could also become active at a date in the future and that would not affect cash comming into FM
and give producers who are expanding time to meet their capital target either putting in cash or buying shares.
It might however devalue the shares already held by members and producers who left or retired, they could also become active at a date in the future and that would not affect cash comming into FM
and give producers who are expanding time to meet their capital target either putting in cash or buying shares.
When was the last time first milk recruited a new member? By giving your members more shares all you do is decrease the value of everyone's shares, so the only losers are the people that have left but still hold shares. If you cannot change the mentality that if someone leaves FM they are the devil and to hell with them- you will never sign new members. I would never sign for this reason. Well that and the ridiculously low 5 year average milk price.
supercow
Member
- Location
- Dumfriesshire
does that coincide with the arla mentality of if your not with them your against them?arla farmers are generally the more single minded than most..
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- first milk