NET To Sell or Not To Sell!

[SASKFARMER3]

Well tomorrow is the big day in Wadena. To sell an elevator that a group of farmers built from the ground up.
I for one will be attending to voice my opinion that the terminal should be sold.
Their is opposition to the sale from a very few individuals who have been on the board.
To me it is Built so we did our job.
It makes money most years even with the problems in the North East. So we were successful.
Its concrete so they cant burn it down.
Its a very fair offer and its time to move on.
So as far as I am concerned I will vote for taking the offer and selling to Richardson. Its fair and its the right time.
To those that oppose it. Sorry it was more than one mans baby. A group of us met and met and met. We all had a dream and when it was finally built we all succeeded. Its time to turn the page and move on.
NET was a good idea and its time to move on.

[freewheat]

If someone decided to not sell it for a 600 dollar a share gain, I'd be surprised. Money talks. A few are going to be very wealthy after this, I know some on "the list". And good for them.

They may finally get their dumping system updated so it doesn't take 25 minutes to dump a truck. As well, perhaps they will compete with Viterra, and actually offer some realistic prices. I have had little reason to sell them my grain, as the grading was tough, the priceing was sad, and the employees catered to the few shareholders who actually delivered there. the viterra guys at least are friendly, and old fshioned in that they know who you are, care enough to ask how its going. At Net, I was never treated with any level of care, unfortunately.

Perhaps now it will be a viable entity for the rest of us. I just wish I had bought shares and been involved in 1990 when I was 14... lol

Here's to net. they did build something, and now finally, at long last, competition should prevail!!!

[bucket]

Was there no other offers than richardsons? Or were they the best offer?

[fjlip]

Even Viterra and Bunge rumors. JRI was rumored the best offer.

If deal goes ahead up to $20 million injected into the area with create a mini boom.

Dealerships are all major share holders, some have expansion in the works.

I see visions of new machinery and diesel trucks dancing in farmers heads.

For some a nice start to retirement.

All this after the worst harvest in a century.

[Wheatking]

You've done it all Sask, well done. What where the shares trading for before this deal.

[fjlip]

http://www.northeastterminal.com/share_trading.html

[Wheatking]

Did they pay a good dividend? How regular was the dividend. How much where the shares to start out with, $100.

[hobbyfrmr]

I do not know too much about NET but, I regard it as a good thing. Sask farmers'(?) initiative 1. got it built. 2. got it running. 3. can sell it for proft(?). In my neck of the woods that is a huuuuge accomplishment. Most farmers around here would never dare attempt such a task together. In 2000 There was a commitee planning to put up a scale, 3 hopper bins, and a leg to load rail cars. The local farmers would not cough up $2500.00. It was laughable, there was $350,000 worth of crew cab 3/4 ton diesels idling in the parking lot at the meeting, but nobody would stroke a cheque for $2500.00. So, GOOD FOR NET a Saskatchewan success story.

[SASKFARMER3]

It paid very nice every Christmas. Laughed paid for kids gifts with a little help from me. But yes it was a great group of guys every thing from farmers to businessmen. Xcop even. Fun bunch but most after it was built left and let the management run it. That's what I did. SO yes its a good day. Not quite a new truck but close. It was a good investment that's built and will be their for all that want to use it. I think with Yorkton so close it should be a great collector site. Just my opinion.
It was a little hard work at start but its one that paid back. Wish would have invested in Weyburn just about did but was very young when that started.

[SASKFARMER3]

S O L D !!!!!!!!!!!!!!!!!DONE DEAL>

[gregpet]

I don't think I heard you voicing your opinion today.

[fjlip]

92% of shares represented voted to sell.
I thought it would be closer.

[gregpet]

So did I but the majority has spoken. Will be a few wealthier individuals walking around Wadena.

[SASKFARMER3]

I was going to sell my shares so sat their and listened. At one point when the old joker in front wanted to know how C shares were formed and why the guys that worked to build it should have been issued shares I Just about stood up. His equal one for all NDP BS started my blood to boil but then settled down. The younger guy that was complaining I really didn't get his point and he went on and on and on. Dwayne did end with some dignity I felt saying what the share holders choose to do is their right.
The comment that it was obsolete the day after we built it hit home. The scale and drive way problems etc. All in all it was a good day for all. I went home very happy. Some times you win with an investment some times you loose. This one well lets just say it was a very good day.
Now the Terminal to the south the day it sold wasn't a very good day.

[BTOfarmallll]

My buddies at Pioneer got it. Gon use to collect canolie, then ship to Yorktown fer crush. Main idea fer buyin, fits like a glove into their operation. They will git all that money back before yous know it, nevermind the fertilizer/chemical retail outlets. Thats the times yous are livin in folks, consolidate, consolidate, consolidate.....