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HomeMy WebLinkAboutTimes-Advocate, 1985-03-20, Page 20Page 8A Times -Advocate, March 20, 1985 Bob Down gets fourth term as president UCO recovery said well ahead of schedule "United Co-operatives of Ontario is on its way to recovery," George May, chief -executive officer of UCO, told over 700 participants at the Co-op's 38th annual meeting, held in Toronto. "We're ahead of schedule by about three weeks in our program to restructure UCO's financial base, and we'll be able to implement the Plan of Arrangement within days, starting on Monday, March 11." he added. "We're able to do that beaeause our business has gone well these last four months," May said. "Because of the cyclical nature 01 agribusiness, we traditionally lose money during the months of October to about February. which are the first two quarters of UCO's fiscal year. This year we had anticipated a loss of $2 -million. but we lost about half of that. That's why we were able to move ahead by three weeks. As a result, the forecast for the fiscal year ending September 30, 1985, has been raised from breakeven to a profit of between $300,000 10 $1 -million. "What's most important about our updated schedule," he added, is that we pay all the debts that were frozen in full -- that's 100 cents on the dollar. Our suppliers get their money and our debenture holders get their full in- terest. We're rather proud of being able to do that and sooner than originally thought." Bob Down. UCO president. while' -also speaking on the earlier date for the Plan of Arrangement. emphasiz-. • ed the importance of the support the Co-op had received throughout the province. from delegates. employees and member -customers. "When we went under the Companies Creditors Arrangement Act last August," he said, "it was not an easy step to take. We knew that the resulting publicity would-be negative because many peo- ple would misunderstand the action, since this legislation was not well known. But our worst fears did not materialize. In fact, many people came to our assistance and took a strong stand in support of the Co-op." Last August. UCO sought court pro- tection in order to buy time to restruc- ture its financial base. At that lime. money owed to suppliers or debenture holders were frozen utitil the Plan of Arrangement. the term used for the financial restructuring was finalized. Creditors meetings were held in November and approval was obtain- ed for the new financial terms. which included full cash payment to sup- pliers, providing first security to member debenture holders and con- verting short term loans into long term income debentures. Payments to suppliers .and debenture holders will be about $20 million. in fiscal 84, which ended Septeinber 29, 1984, UCO had an operating Toss of $3.7 million, compared with the $11.7 million operating loss in fiscal 1983. Ile -evaluation of assets raised the final loss last year to $15.7 million. Sales for the year increased by $36 million to $537 million. The annual report states that market share was held in most commodities. UCO is the largest farm supply and marketing co-operative in Ontario, with sales last fiscal year of $537 million. It provides a complete line of farm inputs, including feed, seed, fer- tilizer, petroleum and hardware through about 100 Co-op Sales and Service Centres across the province. It also markets livestock and grain. UCO is owned by 418,600 individual members and 45 member co-ops representing another 39.0015 members. • UCO board elections Bob Down was re-elected to the ex- ecutive of the Board of Directors of United Cooperatives of Ontario ( UCO), at the Board meeting held im- mediately after the 38th annual meeting. "I'm certainly pleased to be able to continue as president for another year," said Down on his election. "We're looking at a successful future for the Co-op, and i. think that our members, our employees and our creditors, will be satisfied with the positive. aggressive way that the Co- op will be serving rural Ontario." Down. of Exeter, will be serving his fourth year as UCO president. He has been on the UCO Board since 1974. Down has served two years as se- cond vice-president and one year as first vice-president. Ile represents zone 7 which consists of Huron, Perth. and Waterloo and is a member of Ex- eter District Co-operative, Hensall District Co-operative and UCO Belgrave. He was a board member of the Exeter Co-op for numerous years (one as president) prior to being elected to the UCO Board. In addition to his co-operative in- volvements. Down is also very active in community life: He's been chair- man of the South Huron Recreation Centre Board of Management, presi- dent of Usborne Township's Federa- tion of Agriculture, and president of the local fair board and a board member of the Exeter United Church. Currently he is chairman of the South I(uron Hospital Board. Down and his wile Pat operate a 500 acres mixed farm between Exeter and Hensall -- hogs, cattle and cash crops. The Downs have four dau ters. POWER TALK -- MPP Jack Riddell attended the Ontario Hydro in- formation day at the South Huron rec centre. to see where one of the proposed power lines would go through his Stephen township farm. He is shown talking with Jim Love and Vic Hartman. Convention plans set The Ontario Corn Producers' Association has announced the detail- ed agenda for its annual convention to be held at the Waterloo Inn, Kitchener -Waterloo on March 26 and 27. The convention which involves an educational and,social program of in- terest to all Ontario corn farmers will begin at 1:00 p.m. on Tuesday and continue through noon the following day. The convention will be followed by the annual meeting of the Association on Wednesday afternoon. to which all ()CPA members are invited. According to Ed Kalita, President of the Ontario Corn Producers' Association, the two-day event should be an excellent opportunity to ex- change ideas and information. The convention committee has put together an outstanding program of informed speakers from across Canada and the U.S. Corn Belt. Topics of discussion will include: fuel alcohol. fructose corn sugar, out -of - province market opportunities, On- tario board -price basis for corn, farmer -dealer protection from fraud or insolvency, and elevator deduc- tions for CCFM. • A special speaker will be Varel Bailey. President of the National Corn Growers Association, who is widely acknowledged as a top American speaker on fuel alcohol and the U.S. corn growers associations' success in promoting its use. The convention will be highlighted Philip Andrews, Ontario Agriculture Minister as special guest, to be lollowed by a social time. Spouses are welcome to join the program or visit the many attractions of Kitchener - Waterloo and Waterloo region. Registration costs, payable at the convention. will be $18.00, $5.00 per spouse. Banquet tickets are $12.00. Discounts are available for pre- registration. Hotel reservations should be made, in advance, at the ()CPA discount rate of $49.00/room . ' 1$52.00 double occupancy) by telephoning 1-1300-263-7292.Further in- formation is available from the OC - PA office in Guelph (519)837-1660). Ed Kalita further states that "The ()CPA convention represents an op- portunity this winter for corn farmers to find nut what's happening in corn markets and pricing. We hope to see a large crowd.'. ON THE LINE Tuckersmith residents Martin Attenburg, Vern Alderdice and Elizabeth Attenburg check a mop at an Ontario Hydro information day in the South Huron rec centre to see how one of the propos- ed power line routes would affect their farms. From time to time. 1 have referred to the Ontario Agricultural Museum as a delightful place for a family outing. But the museum has come under fire recently and has been called an expensive flop. in retrospect, the critics may he correct in their assess- ment of this sprawling attraction just all Highway 401 near Milton. In my two or three visits over the years. I have found i1 interesting. sometimes fascinating. but 1 look at it from the viewpoint of a person keenly interested in agriculture for many years 1 am of the opinion that rural people love it but it may not hold the interest of city visitors. it is a hodge-podge. a group of buildings housing so many diversified articles that only a person with a farm background would find it interesting. i may he hasty in this critique but it may have enough truth in it to be of interest to those in charge. Some of the blame for the museum's shortcomings can be trac- ed to the fact that it needs a profes- sional director. it really should focus on showing the development of farming from pioneer times to today. The exhibits should be spruced up and demonstrated in a way that would give urbanites an insight into just how productive and innovative farmers in this country have been in the last 100 years. There was a time when almost everyone knew a little bit about far- ming. We all had relatives on the farm. Or al least we knew someone who was an active farmer. Most of (he population came from a rural background so we had an idea of what agriculture was all about. But this is no longer true. Less than Pioneer 6:5ts Seed Corn Soybeans Silabac Alfalfa and Mixtures Alfalfa can now be combined with your seed corn order for volume disc. A great alfalfa at a competitive price. Centralia Kippen Geo. Screda Bill Coleman 235-0273 262-5031 five per cent of the population of Canada is directly connected with far- ming these days. Few people know the difference between a Hereford and a Ilolslein. To suggest to city peo- ple that farming has become one of the most sophisticated of businesses can bring nothing but a blank stare from most city -bred people. They still have a mental picture of a farmer in bib overalls. a straw hat. sucking on a straw or a corncob pipe, walking across the manure yard to slop the hogs. Well, hogs do not eat slop anymore. 1 have been on farms, especially hog farms, where the owner operated a complicated set of switches to feed his animals a scientific mixture design- ed to feed them better than most city kids get in their diet . 1 have watched farmers - and farmers' wives -- operate a computer that kept Netter records than most small businesses in the city. We should he patient with the peo- ple in charge. 1 guess. They have worked long and hard to get something going but so far. as some farts writers have suggested„ the place is a boring and expensive nonentity John Wylie. former manager of the Western Fair at London. is now the manager at the museum Ile has had plenty of experience and considerable success at the Western Fair. Ile was also the former manager of the Royal Agricultural Winter Fair. Ile brings the know-how on organizing a show that will attract crowds to the museum. ile should know how to raise the agricultural museum from a lacklustre antique show of interest on - Iv to farmers to scintilating attrac- tion that will interest people from all walks of life and make it an educa- tional experience that will bring ne w insight to understanding farmer<and farming MALTING BARLEY CONTRACTS FOR 1985 CROP Direct Harvest Delivery Off Combine to Elevator For More Details on Acreage and Variety call Maple Leaf Mills Limited GRAIN DIVISION GREENWAY STRATHROY 294-0014 1-800-265-7023 238-8423 GARDEN WITH JUST ONE HAND THE .TROY -BILI WAY: • Rear -Mounted Tines chop, shred and bury old sod, standing crops and organic matter with NO tangling! • Power Driven Wheels maintain a steady, comfortable pace with NO struggle — you guide it with JUST ONE HAND! • Cast -Iron Automotive -type transmission designed to work hard and last a lifetime. • 4 forward speeds end r ELECTRIC START models, too! • instant, accurate Depth Control for precise cultivating, deep power tilling, and everything in between! • Model sizes from 3Vi to 8 H.P. to fit every garden, from a small°an;1O^"",°""•1f"''• I IM,• Leet .n heel backyargtczanacre_ncmorel — e.•.s,l�.' • Puff no•tlme•l/m/t warranty. • All models now in stock • Factory authorized dealer See and compare al! the Troy -Bill' Tiller Models et: u O `o� ei eirvd�v 04.00be{ole 5 1111111011 Soy 3016 Moi` s TRACI1IRA A)$ Exeter 235-1115 Blyth 523-4244 Nobody corners your Window needs like Dashwood INTRODUCING MILLENIII/Vr/000 Ideal. for new homes, remodeling or replacing windows FUEL SAVING? 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