gee hunter
cant you handle the truth mate
just cos were were right and you were wrong dont mean we are hateful mate
you will get used to facing reality in time mate
pointing out the truth is not hateful even though it may hurt
mates owe it to tell each other the truth
Bush Blair and Howard will face war crimes trials as will all who supported the illegal un winnable wars
we warned you may times western taxpayers would bleed to death over Iraq and Afghanistan
we warned you house prices would crash and western economy was DOOMED
even if it hurts
nothing can save western taxpayers from facing justice and paying for their crimes
nothing can save australian farmers from bankruptcy and ruin
nothing can save israel or the usa from paying for their many crimes
this is simple reality mate
not hatred
after you work through the denial stage , then the anger stage then the grief and reach acceptance , you will eventually thank us mate for telling the truth
we will forgive you , then you can help us rebuild what ever is left after the war crimes trials remove the real terrorists and criminals
Australian Agri business is about to collapse completely
thousands upon thousand have lost the lot, every last cent gone completely
banks have lost the lot as well , we warned them too ,
farms that are not worth one dollar , as the cost of owning them is greater than the income potential of most Australian farms
They are worth nothing ,not one dollar , investors in the rural sector have lost the lot
Timber corp went from over 2 dollars a share to NIL , banks lost all their money and the land STILL needs o pay rates and taxes Banks will soon PAY PEOPLE to takeover farms so as to wipe the growing debts from their books .
Creditors meet after yet another huge Agri business collapses
Andrew Main | April 25, 2009 Article from: The Australian
TIMBERCORP voluntary administrators KordaMentha yesterday set May 5 as the date of the first creditors' meeting.
It identified unit holders in the group's 40 managed investment schemes (MIS) as potential creditors. along with many others.
The Melbourne-based listed group went into administration on Thursday with debts of about $900 million against some $595 million in assets. but attempts to sell off some assets failed to find buyers , no interest in farms that lose money and can not even pay running costs
It was the victim of a gradual squeeze between a substantial debt burden and drought-ravaged operating revenues.as well as being vastly over valued and heavily leveraged to bank loans that were taken out far beyond the real valuation based on income potential
Most of its timber and horticultural assets are along the Murray River and although Timbercorp controls significant water allocations, there is no waterto allocate, the simple unavailability of water and the cost of trucking in small amounts meant that crop yields in the last two years were a long away below predictions. most plantations will need to pay to pull them up
Regis Besencon, a Victorian authorised representative based in Healesville who holds a major line of MIS units, said yesterday he had been invited to attend the meeting, which implied that he and his 50- odd "grower" clients who were also MIS unitholders might also be creditors of the listed entity.
"We're very concerned to make sure our interests are taken care of even though we're not Timbercorp shareholders," said Mr Besencon.
"We don't just want to roll over and play dead."
Timbercorp owns or controls almost 100,000ha of eucalypt plantations,
12,000ha of almonds and 6530ha of olive groves as well as smaller plantings of citrus, avocados, mangoes, grapes and truss tomatoes.Most Agribusiness is in exactly the same hopeless trap , no buyers of farms that can never show a return and still cost money to run
The group's structure is complex because Timbercorp owns much of the land but contracted out the plantation management to specialist companies such as Boundary Bend, Simpson Farms and Select Harvest, which are not in administration, and the unitholders were paid a return based on the crop produced, having paid the various costs of producing the crops.
There are 14,000 Timbercorp shareholders and about 18,500 MIS unitholders or "growers".
many other Agri busineess are about to admit they too are in the exact same position
Most western business is in the exact same position world wide , but the drought adds to most Australian farm business problems
With farms the banks can not simply close the factory gate
the animals or trees must be cared for , and a sale is now impossible as running costs can never be able to cover ongoing cost of keeping the gates open , and rates taxes , and pest control , costs roll on and banks are left holding the baby
EXACTLY as kanga tried to warn them for YEARS
those who bought camels are the only ones who will survive
Some FOOL wants the government to pay him 50 million dollars to shoot camels to save his farm
poor silly FOOL can not see the forest for the trees Thank GOD he wont be in farming much longer
Camels will be the biggest rural income in Australia next century
sadly the experts will all need to die out because they can never admit they were wrong and kanga was right
Only REAL men can admit they were wrong
kanga =3D=3D=3D=3D=3D=3D