Elders in trouble

http://www.abc.net.au/news/2013-11-18/elders-posts-loss-hit-by-restructure-and-accounting-troubles/5098714#!

Copied from the abc news on-line – how can primary producers be expected to trust these companies when they can not get their accounting right? For a long period of time now, primary producers have kept saying they are selling at less than the cost of production and these words seem to fall on deaf ears.

Many rely on companies such as Elders, who provide services such as stock agents, real estate agents, banking, investment and wonder why there is a high level of apathy out in the community when dealing with these types of companies. I hear time and time again how farmers are unhappy with outcomes of livestock sales, land sales and a general MIA of agents when it goes dry. No agent offers a solution other than it’s the meat buyers fault,” it’s the weather”, it’s an over crowded market”. etc. At the end of the day my saying now is in any conversation I have with companies, “there is only one of us getting a wage here and it isn’t me”. So regardless of the outcome the stock agent gets a % as does the company they work for. there is no real incentive to find better more profitable markets as they don’t get paid anymore if they do.

With this admission by one of the biggest known brands in Agriculture bring many to their knees? how can a large firm not have systems in place to keep the Strategic plans on track and honest? to show a true account of what it is doing and ‘selling’ to the stakeholders. This I can say probably won’t be an isolated case, there has NEVER been an incident like the emotive reactionary ban on livestock exporting. Once it was done there was silence from those that created this situation Government and animal activists. No farmer wants cruelty to their animals, they are their livelihood, yet there was a deafening silence when these people who were affected asked for help, they haven’t gone away they are still suffering and so too are companies like Elders made worse by inaccurate accounting and non-disclosure.

K Rudd will be known for his apology to the Aboriginal people ‘the stolen generation‘ and as Prime Minister TWICE – there was never an apology nor solution to this outrageous financially draining ban on live exports. Tony Abbott also has not begun to address this to a degree of satisfaction, yet we can watch and wait for an Agriculture minister to take this on board and assist, but if companies like Elders are suffering and found to have fraudulent books how on earth can farmers continue combating climate conditions, Government regulations and apathy in companies that look after share holders first?

One thought on “Elders in trouble

  1. robynverrall

    Reblogged this on robynverrall and commented:
    There is nothing more to express here, there will be more said about this company than those this will affect – city based jobs – country based people the balance is not tipped in primary producers way.

    Reply

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