![]() The “failure” is nicely illustrated in the share price (the non-voting shares were listed in 2012). The average across the entire group is $1.00. Its figures show while Fonterra collects the second largest amount of milk (and is the world’s largest milk exporter), its estimated turnover per kg of milk solids is only US60c.īy comparison, Danone is the 11th largest milk processor, but it turns over US$2.40 for every kg to make it the best performer. This ranked Fonterra 17th out of the 20 companies in terms of value creation. The rate of return on that business, in turn, is barely higher than that on the bulk commodity business.Ī much cited figure is the 2018 value report published by the International Farm Comparison Network (IFCN). So this was almost $20B of revenue from a starting point of ‘nothing’.Īctual revenue now, 17/18 years on, is about $20 billion (including a structural improvement in world dairy prices) and relatively little is from those vaunted specialised products. In revenue terms, the promise had beenįrom a starting point of only $5B, they outlined a six-fold increase in revenues in only 10 years to $30B.Ĭritically, just under two-thirds of the $30B would come from what is euphemistically known as ‘value add’: specialised ingredients and biotech-heavy products. His starting point is with the misplaced belief among senior political figures 20 years ago that by allowing the creation of Fonterra – using legislation to override the Commerce Commission – the door would be opened to the evolution – in pretty short order – of something equivalent to New Zealand’s Nokia. And Peter was kind enough to send me a copy of his presentation, with permission to quote from it. The bulk of Peter’s diagnosis has already appeared in the mainstream media, in a substantial Herald op-ed a few weeks ago and then in a Stuff article yesterday. The style perhaps won’t appeal to everyone, but the substance of his talk poses some very serious questions and challenges. He has a great stock of one-liners, and listening to him reminds me of listening to Gareth Morgan when, whatever value one got from purchasing his firm’s economic forecasts, the bonus was the entertainment value of his presentation. Peter is a former public servant – we did some work together, the last time Fonterra risks were in focus, a decade ago – who now operates as a consultant to various participants in the dairy industry (not Fonterra). for more information you can visit the official website or the steam store page.That was the title of Wellington economist Peter Fraser’s talk at Victoria University last Friday lunchtime on why Fonterra has failed (it is apparently also a term in use in various bits of popular culture, all of which had passed me by until a few moments ago – and a Google search). one nice thing is that it comes with Hardcore mode and a Granny mode for gamers who have finger arthritis.Īpocalypse cow currently does not have a released date but according to the devs it will be coming in 2018 for PC. you can freeze the time around her and use that period to cut down enemies, jump through falling debris or escape an incoming explosion.Īpart from the single-player mode, it offers a local multiplayer co-op mode designed for 2 players. The main strength of Penny is the ability to control time. ![]() if you like getting creative with your game style then you can take advantages of the objects around you like push objects, blow up barrels, spring off traps and more. if you like rampaging around then you can dive into enemies main and slaughter them. The gameplay system has been designed different kinds of players. On her journey to find her friend’s missing robot she arrives in Candyworld which was once a world of happiness filled with unicorns but has now become a violent place and a den hole of thug and thieves. It’s a journey that will teach her the true meaning of friendship and explosions A cute, psychotic little girl with the power to rupture time, travels across GameWorlds to find a missing robot. You can check out the trailer and steam description of the game below to get an idea about the gameĪpocalypse Cow is a cinematic arcade adventure set in a digital universe. this lets her fight against the biggest and the baddest of foes and according to the devs she is basically a “ Super Mario with a weapon, on crack.” In the game, players take on the role of Penny, a little psychotic girl short-tempered girl who has the ability to rupture time. it is an arcade adventure platformer game where players fight against the evil thugs with guns and explosive. ![]() Developer and Publisher Monsters will be soon releasing their upcoming game titled Apocalypse cow.
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