Saskatchewan Wheat Pool:
not a co-operative

Waldeck - Wednesday, January 22, 2003 - by:Joyce Neufeld



According to the Jan. 18/03 Leader Post, Saskatchewan Wheat Pool CEO Mayo Schmidt and President, Marvin Wiens plan
"to pitch the Pool's restructuring proposal to bondholders and warn about the consequences of it's rejection".
Schmidt warns that the consequence of rejection
"would be a difficult situation for the company, and we'd have to consider our options at that time."
One of the options being bankruptcy protection.



Bill 04

Let's go back to March, 1995, when farm groups, and concerned Saskatchewan Wheat Pool members presented many briefs at government hearings held in Regina concerning changes to The Saskatchewan Wheat Pool Amendment Act, in the form of Bill 04.




At that time, all we asked of the Provincial Government was that they refuse any changes to the act until such time as Saskatchewan Wheat Pool hold a vote of it's members regarding the changes (privatization) of Saskatchewan Wheat Pool structure. Needless to say, we were sadly disappointed with the Government of the day (NDP) in our request for democracy. As predicted by many, Saskatchewan Wheat Pool has been abandon by it's former membership, and now finds itself in deep 'doggie-do-do' (of Saskatchewan Wheat Pool's own making I might add). While Schmidt states that 'at this point in time, this company has not asked the government for cash", he didn't rule out the possibility of accepting some form of assistance from the government, if the restructuring proposal fails.




I for one strongly object to my taxpayer money going to bail out yet another PRIVATE CORPORATION. I also vehemently object to it's being referred to as a 'co-operative'

Joyce Neufeld

  Johnstone, Bruce, Schmidt pitches Pool Plan Proposal favours banks, forgets bondholders: lawyer, (PDF) January 18, 2003, Regina Leader Post
  Kyle, Anne, Some bondholders back plan, (pdf) January 21, 2003, Regina Leader Post


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