Mike’s Minute: Winston Peters isn't wrong, just late

I argued it because I thought it was the right thing to do. 

Winston Peters entered the Fonterra brands sale debate yesterday, I suspect because he thinks there are points to be scored. 

Not because he is wrong, because he isn't, but if you really cared about the sale that Fonterra has been involved with for some period of time, you might have stumped up a bit earlier. 

In a way it's none of our business, neither mine nor Peters’. We aren't farmers and we don’t have a vote. 

The people who do have a vote are in that process as we speak. 

My guess is it will romp home and each farmer on average will be several hundred thousand dollars better off. 

But there is also, as it's always been, the Fonterra social licence. Although the average punter doesn’t own them, or have a say, they are so big that their role in the New Zealand economy is outsized to the point that what they do has national implications. 

I have always argued that their argument for sale is wrong. 

There is, and never has been, any reason they can't and don’t run their brands successfully. They say it's not their core business. 

Isn't it? 

Milk turns into cheese and ice cream. Cheese and ice cream are the brands they are selling. 

The French company, also in the same business as Fonterra, doesn’t seem to see it that way either, otherwise they wouldn’t be stumping up over $4 billion for it. 

There is an agreement, and this is Peters' main point, that the new owner uses Fonterra products. But, says Peters, how long for, and when the clock stops, which it will, our milk will be in just another in a long line of milk jugs. 

Peters tosses in a bit of conspiracy about Fonterra executives and bonuses. But that’s the politics of it all. 

But then that’s always been the Peters way, hasn’t it? 

At its core he makes sense. He values New Zealand and New Zealand products, so his view is consistent. But then there is always a little conspiratorial spice for the headlines. 

If this sale was to be debated properly, far less halted, he needed to be front and centre ages ago. 

So overall, the Peters' foray – good point, just too late.     

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Episode Transcript

Speaker 1 (00:00):
I argued it at the time because well several times
over actually argue because I thought it was the right
thing to do. But Winston Peter's enter the Fontira brand
sale debate yesterday, I suspect because he thinks there are
points to be scored, not because he's wrong, of course,
because he isn't. But if you really cared about the
sale that Vonterira has been involved with for some period
of time, you might have stomped up a little bit earlier.
In a way, it's none of our business, neither mind

(00:21):
nor Peter's. We aren't farmers, we don't vote. The people
who do vote are having a vote at the moment.
They're in the process as we speak. My guess is
it will romp home and each farmer on average will
be several hundred thousand dollars better off. But there is
also always has been the Fontira's social license. Although the
average punter doesn't own them or have a say, they
are so big that their role in the New Zealand

(00:41):
economy is outsized to the point that what they do
has national implications. I've always argued that their argument for
sale is wrong. It's a rather convenient way to exit
a business they can see some fiscal upside from. There's
nothing it never has been any reason they can't and
don't run their brand successfully. They say it's not their
core business. Milk turns into cheese and ice cream. Cheese

(01:03):
and ice cream are the brands they're selling. The French company,
also in the same business, says Fonterra doesn't seem to
see it that way either, otherwise they wouldn't be stumping
up over four billion dollars for it. There is an agreement,
and this is Peter's main point, that the new owner
uses Fontira products, but says Peters, how long for and
when the clock stops? Which will our milk will be
just another in a long line of milk jukes. We'd

(01:26):
found out, of course yesterday the dealer's ten years. Peter's
tosses in a bit of conspiracy about Fonterra executives and bonuses.
But that's the politics of it all, really, But then
that's always been the Peter's way, hasn't At its core,
he makes sense. He values New Zealand, he values New
Zealand products, so as viewers consistent. But then there's always
a little conspiratorial spice in the headlines, and as we

(01:47):
found out, there is no bonus. If this sale was
to be debated properly, far less halted. He needed to
be front and center ages ago, So the Peter's foray
good point, just too late. For more from the Mic
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