Friday, May 16, 2008

Should They Get A Medal?

I can't even imagine who dreamed up this notion and to then turn around and raise it in the House??? The Natural and Organic Food Group had floated a financing prospectus around looking to raise $11,000,000 but when I read through it I learned they were planning on building a new plant but were not committed to building it on PEI but somewhere in the Maritimes or Quebec. The following comes out of their business plan they had sent to investors.

"New Value-added Processing Facility
In order to process the value-added ready-to-eat pork and chicken products, NOFG plans to build a dedicated processing facility. Construction is planned to start in early 2008 for completion towards the end of the year. The design and pre-engineering of this 35,000 sq. ft. facility has been completed. Cost estimates are as follows:

Building $4 million
Equipment $4 million
Working capital $2 million
Total $10 million

The location for this facility will be either in the Canadian Maritimes or Quebec."

These guys were running around trying to get money out of our Government but it appears as soon as they were going to raise some funds it was splitsville??

Whoever had the good sense to back away from these operators until they invested their own money should get a metal.

Ghiz accused of swinging deal on hog plant
Last Updated: Tuesday, April 8, 2008
CBC News
Premier Robert Ghiz was accused in question period Tuesday of letting P.E.I.'s hog plant die in favour of Nova Scotia's, so that province would support the Island's beef plant.
Olive Crane focused all her attention on the hog plant.(CBC)
Opposition leader Olive Crane was the only Progressive Conservative to pose questions, and focused all her attention on the government's role in the closure of the Island's hog plant.
Crane accused Ghiz and his chief of staff Chris LeClair of brokering a backroom deal with the Nova Scotia government.
Crane believes Ghiz promised to close the Charlottetown hog plant in exchange for money from Nova Scotia for the Island's beef plant. P.E.I. reached a deal with the other two Maritime provinces to fund the beef plant in December.
Ghiz flatly denied the allegation.
He complimented Crane on having a great imagination, but said there was never any discussion with Nova Scotia about doing one thing in exchange for another.
The Natural and Organic Food Group facility closed last month after government refused to continue funding it.

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