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Diamond Foods, Inc. (DMND) Message Board

  • y2k7trillionover y2k7trillionover Dec 9, 2012 10:17 PM Flag

    University of California Davis report that provided early warning clues to forthcoming problems

    Could not post the link but you can find the report using keyword search for:

    agecon ucdavis shermain-hardesty the-conversion-of-diamond-walnut-growers.pdf

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    • Quote from this report:
      "The Conversion of DiamondWalnut Growers
      Shermain D. Hardesty
      Three aspects of property rights theory are particularly relevant to the conversion
      of the walnut-marketing cooperative, Diamond Walnut Growers (DWG),
      into a publicly traded stockholder-owned corporation. The horizon problem became
      apparent when DWG began investing heavily in branded, value-added products.
      The resulting need for additional member capital raised the free rider problem.
      The principal-agent problem was also relevant, given the increasing complexity of
      DWG’s financing and marketing activities. An additional economic issue surrounding
      the conversion was the monopsonistic situation created when members signed
      long-term marketing agreements with the new firm that was maximizing shareholder
      value, rather than grower returns."

      Give me a break....Only liberal college professors and the airheads that listen to their nonsense, could think that a publically held corp has a duty to maximize the profits of its suppliers (growers) rather than its shareholders. The former students of these clowns are now in control of the highest levels of our government and bureaucracy. We have forgotten a very important lesson.......... “Those who can't do, teach.”

 
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