The self serving city editorial in Friday’s Herald is a sad reflection on the level of real knowledge, or lack of it as is the case, on the dairy industry.
There is currently the ability of any one person or company to process and export milk products. They can be low value or high value. That decision is up to the commercial interests. Allowing the float of shares in Fonterra will provide opportunities for share traders and NZX, and ultimately foreign ownership of our only globally significant entity.
Advocacy by the Herald for ownership outside the hands of farmers is classic market ideology that has seen most large NZ companies fall into the hands of foreign owners. Think carefullybefore and after you read about the industry
And which has provided no value to NZ. In fact, many innovative companies that were sold to overseas interests got shifted offshore as well. It’s time to accept that foreign ownership does nothing for the NZ economy or it’s people except keep them in thrall.
They keep harping on about the Irish dairy farmers and Kerry Milk. But that was helped by Ireland joing the EU and so creating a golden oppotunity that could never be repeated.
The Herald piece sounds like it came from Fran O’Sullivan with her signature insider comments like this ..”He has reportedly been acquainted with the details that will be announced to farmers next Friday.”
Isn’t ironic that funds like the Superfund invest in foreign businesses, yet whenever its mooted floating or selling a privately held NZ asset we shudder and blindly say no?