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#226806 01/14/07 09:44 PM
Joined: Oct 1999
Posts: 84,400
Marty Offline OP
OP Offline
Another special A.G.M. called for citrus growers
The citrus controversy is heating up again in the south as
a published notice to growers is calling for yet another
special general meeting. According to the advertisement, the
meeting has been called for January twentieth at the Citrus
Growers Association's compound at mile nine on the Stann
Creek Valley Road. Items on the agenda will include a
"report on progress made in varying and supplementing the
investment agreement as per the resolution made at the
October twenty-eight meeting," as well as a report to
growers regarding the "floor price payment guarantee,
dividends now payable by C.P.B.L., consideration for the
reduction of cess and a new fruit price submission." Tonight
we understand a new point of contention is confirmation that
a member of the grower-appointed Committee of Five, Belize
City businessman Arsenio Burgos, has been named chairman of
the Investment Company Limited (I.C.L.), the investment arm
of the C.G.A., without a formal announcement to members. The
special A.G.M. will start at nine-thirty next Saturday
morning.



Marty #226807 01/14/07 09:45 PM
Joined: Oct 1999
Posts: 84,400
Marty Offline OP
OP Offline
from a friend

THIS ONE HAS BEEN CALLED BY THE COMMITTEE OF
MANAGEMENT to forestall onother one called by the growers for Sat 27
Jan to remove the 6 Directors who signed approval for the investment
agreement before all the changes had been incorporated.

The growers had clearly instructed the Management not to proceede with
the deal unless all the changes recommended by the Committee of 5 had
been done.


It is very sad that elected representatives of the growers have acted in this
way, even more so when it has not been shown that this deal is in any way
beneficial to growers.


Those who agree to sell 46% of a company for $25M, a company which is
worth at leaset $150M really need their heads examined.

When I add to this that growers have still not been paid correctly for last
year's fruit and are currently grossly underpaid for this year's fruit
according to the contract between the factory and the Citrus Growers, it is
hard to see these kind of actions are in the best interests of growers..

By way of comparison, Florida growers are currently signing contracts for
Bze $31 per box for valencias, and our factory has offered Bze $12.15 for
the same valencias.

Why is the contract not being enforced? The same 6 directors who are
slated for removal by the growers, refuse to enforce the contract.


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