Future of first milk

[Jonsnow]

I understand from some rumblings on here and Twitter that First Milk have made some changes to their contract with regards to resignations, and tightening up of rules with regards to farmers looking to "cease" trading by changing the trading name etc. Only giving notice until the end of the month to change this. Does this mean that there are some loopholes there that can be exposed until the weekend for those who wish to exit?

 

[dazza b]

ZS

T I

 

[coomoo]

ZS

T I

Fall asleep?

 

[westwards]

Is that the lid firmly on the" Kate Allum era" coffin now that they have got rid of CNP ?

Or are there more skellingtons (as Steve Wright would say ) to come out the cupboard ?

 

[jockthethistle]

WW. You always picked better tracks than Steve Wright. jtt

 

[manfromhill]

Is that the lid firmly on the" Kate Allum era" coffin now that they have got rid of CNP ?

Or are there more skellingtons (as Steve Wright would say ) to come out the cupboard ?

My bank balance can't do anymore skeletons

 

[dazza b]

Fall asleep?

Pmsl I'm guessing so only just seen this lol

 

[westwards]

Turns out that Protein partners are owned by County milk products !!!

 

[Cuckoo's nest]

The Future of FM must look good the were able to pay Mike Gallacher a bonus of £275,000.
Will that make anybody go to the AGM next week ?

 

[supercow]

,

The Future of FM must look good the were able to pay Mike Gallacher a bonus of £275,000.
Will that make anybody go to the AGM next week ?

That guy has single handedly saved first milk and all of its producers, first milk were a couple of hours away from solvency so he made a massive decision in delaying half a milk cheque, of which we will get in the next couple of months, first milk r now rivalling Arla wiseman and most milk buyers, 275000 is excessive but hey ho CEO's are on that kind of money for a reason.

 

[coomoo]

,


That guy has single handedly saved first milk and all of its producers, first milk were a couple of hours away from solvency so he made a massive decision in delaying half a milk cheque, of which we will get in the next couple of months, first milk r now rivalling Arla wiseman and most milk buyers, 275000 is excessive but hey ho CEO's are on that kind of money for a reason.

He's got u believing and a lot of the rest of FM producers aswell so has to be a good thing

 

[Cuckoo's nest]

,


That guy has single handedly saved first milk and all of its producers, first milk were a couple of hours away from solvency so he made a massive decision in delaying half a milk cheque, of which we will get in the next couple of months, first milk r now rivalling Arla wiseman and most milk buyers, 275000 is excessive but hey ho CEO's are on that kind of money for a reason.

Supercow I think you will find the half milk cheque and the extra capital we had to put in started before Mike Gallacher came in. He has turned the business round but at what cost ? Many have their resignation in
and many have been paid such a poor price the have thrown the towel in, what is going to be left ?

 

[westwards]

He's got u believing and a lot of the rest of FM producers aswell so has to be a good thing

You can only take so much force fed bulls**t. The only thing that matters is the price paid in the milk cheque and its still way behind competitors.
They talk about jam tomorrow all the time, we need the half milk cheque NOW, we the producers have bailed the compay out and its pay back time.
If my dad is not going to the AGM our proxy vote will be posted, and we will vote against all those directors and others who put us in this £$%^&*)(% mess.

 

[supercow]

Supercow I think you will find the half milk cheque and the extra capital we had to put in started before Mike Gallacher came in. He has turned the business round but at what cost ? Many have their resignation in
and many have been paid such a poor price the have thrown the towel in, what is going to be left ?

I can guarantee the people who have thier resignation in will be in the midlands and Scottish mainland pool, there won't be many resignations in the cheese pools as they r on a respectable milk price, if we tick all the boxes in November we will get 23 pence in the bank, I have a pal who is with Arla who will also get 23 pence, in what world is that behind competitors?

 

[Married 2 The Mob]

How much would we have had to pay the likes of Price Waterhouse if we were wound up 18 months ago ?
What would be left after that ?
While I understand fully peoples frustration and financial pain ( I'm Midlands FM and sub 100 cows ). Wearing my self interest hat, which is pretty much most days, I can be really P#ssed off at the situation. But truth is most of the directors who "put us in this mess" have been got rid of, and the business is turning around against a backdrop of a horrendous dairy market. Yes I know our money, which we really needed was a massive part of that, and we as individuals are not there yet.

The bonus payout was inevitable ( provided he hit targets ) which he patently has.
He pretty much told us on day 1 if you read between the lines. He was taking a big salary cut to take on a basket case. Bonus was written all over it. Wouldn't have been surprised if it wasn't more.
We have to, as an industry accept remuneration for running a business is benchmarked in a different place to what we are accustomed to.
It's been / is ##it, but I havn't thrown any milk away, and I havn't been penalised for under producing..

 

[supercow]

Exactly! Look at who I would sell milk to and the list is short! Wiseman, twisted company only profiting shareholders, Arla sent 100 million of losses overseas last year to keep hold of members,Graham's is a crooked pr*ck, yewtree well they r hitting the headlines at the moment but what goes up that quickly has to come down that quickly

 

[supercow]

The only thing I worry about now is lack of milk, fm has recovered and going strong now will take another few months to really give members a lot of confidence to stay, but if Adams want more cheese fm r going to have to start recruiting, to start recruiting they need to be paying better than the average which has always been a struggle for them!!

 

[Cuckoo's nest]

How much would we have had to pay the likes of Price Waterhouse if we were wound up 18 months ago ?
What would be left after that ?
While I understand fully peoples frustration and financial pain ( I'm Midlands FM and sub 100 cows ). Wearing my self interest hat, which is pretty much most days, I can be really P#ssed off at the situation. But truth is most of the directors who "put us in this mess" have been got rid of, and the business is turning around against a backdrop of a horrendous dairy market. Yes I know our money, which we really needed was a massive part of that, and we as individuals are not there yet.

The bonus payout was inevitable ( provided he hit targets ) which he patently has.
He pretty much told us on day 1 if you read between the lines. He was taking a big salary cut to take on a basket case. Bonus was written all over it. Wouldn't have been surprised if it wasn't more.
We have to, as an industry accept remuneration for running a business is benchmarked in a different place to what we are accustomed to.
It's been / is ##it, but I havn't thrown any milk away, and I havn't been penalised for under producing..

I agree about the bonus and have no problem with it or his salary, but some of the directors who got us into the mess and the huge losses racked up by paying out a milk price they could not afford after the loss of the Muller contract, that was around £20 million and the legal costs imposed by the banks and extra accounting costs come to about £2.2 million, 2 of the directors who made these mistakes are still on the Board.
I want to see FM survive but we must remember we need a clear strategy and know in the area's with no factory near us we are needed and wanted and that is shown in a fair milk price,we have all paid for the cheese factories and continue to do so but we do not all benefit, its not too many years ago that the liquid guys were the one's subsidising the cheese producers but now we are more commercially focused we have a better price in West Wales than the rest of us. Some very short memories on the Board and some should be toast.

 

[supercow]

I 100% agree with u, everyone's paid into the cheese factories and only Lake District and hw is benefitting, but first milk can't afford to pay one price I don't think, where Arla can, market related pricing seems to be the way for a small coop like fm,

 

[Coo man]

Exactly! Look at who I would sell milk to and the list is short! Wiseman, twisted company only profiting shareholders, Arla sent 100 million of losses overseas last year to keep hold of members,Graham's is a crooked plonker, yewtree well they r hitting the headlines at the moment but what goes up that quickly has to come down that quickly

Muller only have one shareholder , the owner Theo