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RNZ – Nine To Noon: Rod Oram on Business – the Census + the Fonterra write-down + the OCR

14/08/2019

Kathryn Ryan talks with Rod Oram on business

For me this is a must listen. I really appreciate what Oram says, even when I disagree with him, which is frequently. . When Oram is not on, the segment is not as good in my view.

Rod Oram chats to Kathryn about Fonterra’s big write down of assets and no dividend this financial year. Also, the RBNZ’s very surprisingly deep OCR cut, and the way it announced it.

Fonterra has major problems and has had them for years.

Fonterra needs to be taken hold of firmly and dragged into the real world. Oram makes several valid points – especially about value creation.

Fonterra has never moved beyond being a commodity player, value creation seems to have been something that has eluded it.

As Oram points out Corporate Governance has failed and failed spectacularly.

 

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