Post #1339493
2026-04-14 05:25 UTC
98% of Fonterra shareholders voted to sell the goose which laid the golden eggs and today is pay day. The average *tax-free* payment to shareholders is $400k.
Farmers voted for the sugar hit, disregarding the fact that the next time the milk price drops, Fonterra's consumer brands won't be there to cushion the shock because they're now owned by French company Lactalis.
Short term thinking is not much of a strategy.
If anyone knows why this sale of business assets for profit isn't taxed, I'd love to hear from you.
https://www.rnz.co.nz/news/country/592340/cashed-up-dairy-farmers-urged-to-spend-wisely
#Fonterra #Lactalis #TaxFree
Replies (4)
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@Iveyline@mastodon.social 2026-04-14 05:29
@BobLefridge It's hard to believe Fonterra sold all its value added businesses. That doesn't make sense.
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@indyradio@kafeneio.social 2026-04-14 05:30
@BobLefridge some do actually get Socialism
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@zl2tod@mastodon.online 2026-04-14 06:19
@BobLefridge Further, the brands which Fonterror sold will no longer have any obligation to buy product from their former proprietors.
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@Niall@mastodon.nz 2026-04-14 08:20
@BobLefridge that'll keep them in diesel this year. What about next year?