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Mumias Sugar shutdown due to canecutters strike
Rank: Elder Joined: 6/8/2013 Posts: 2,517
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Lessons have to be learnt. Why should Kidero be blamed? Does he import sugar "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Rank: Elder Joined: 6/8/2013 Posts: 2,517
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murchr wrote: Lessons have to be learnt. Why should Kidero be blamed? Does he import sugar
Much as some people may not like it Mumias sugar's problems date back to Kidero's time at the firm (that was when sukari iliingia sumu)thank God NMG kicked him in the g*nads "😖😡KQ makes money for everyone except the shareholder 😏😏 " overheard in Wazua
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Rank: Member Joined: 1/15/2010 Posts: 625
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Lets see what happens to the stock tomorrow. Goes low enough it will be valuable for net assets - i.e. the value of selling all the equipment and land it owns. I still remember those days when this stock was selling at 60. Buy and Hold strategy would have been a killer here.
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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Siringi wrote:murchr wrote: Lessons have to be learnt. Why should Kidero be blamed? Does he import sugar
Much as some people may not like it Mumias sugar's problems date back to Kidero's time at the firm (that was when sukari iliingia sumu)thank God NMG kicked him in the g*nads So this fisherman is to blame? Another DJ CK
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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Hold on... Stop reacting to half-baked news. I believe Mumias' cane cutters are going on strike hence no cane cut = no cane to crush = Mumias factory (not company) shutdown for now. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/2/2009 Posts: 2,458 Location: Nairobi
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VituVingiSana wrote:Hold on... Stop reacting to half-baked news. I believe Mumias' cane cutters are going on strike hence no cane cut = no cane to crush = Mumias factory (not company) shutdown for now. @VVS...I was just about to post on the same.. Seems like Biko just doesn't like the Governor or he read half the news. Cane cutters are actually complaining about things that would help MSC as a company. zoning of the sugar belt. the cane cutters would be contracted by MSC, after doing their job, the farmer would sell the sugar to Butali. MSC would then refuse to pay for undelivered goods. hence this strike. the company has stalk right now, next weeks factory maintenance has now been schedule for this week. and this strike is ending now. if not tomorrow.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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poundfoolish wrote:VituVingiSana wrote:Hold on... Stop reacting to half-baked news. I believe Mumias' cane cutters are going on strike hence no cane cut = no cane to crush = Mumias factory (not company) shutdown for now. @VVS...I was just about to post on the same.. Seems like Biko just doesn't like the Governor or he read half the news. Cane cutters are actually complaining about things that would help MSC as a company. zoning of the sugar belt. the cane cutters would be contracted by MSC, after doing their job, the farmer would sell the sugar to Butali. MSC would then refuse to pay for undelivered goods. hence this strike. the company has stalk right now, next weeks factory maintenance has now been schedule for this week. and this strike is ending now. if not tomorrow. The cane cutters strike is funded by one Nashon who was sacked as a head of department and is eyeing the ceos post.
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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. Nothing great was ever achieved without enthusiasm.
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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Someone milked a couple of billions from this one and left it to bleed to death.If the government doesn't rush in now,we are starring at a total collapse.The CEO is a clueless fellow and the entire board is no better.Hapa ni maombi!! @Mawinder, There is no truth in what you have posted. Nothing great was ever achieved without enthusiasm.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Am buying tommorrow "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Something has been stressing me ever since I joined the NSE... Why the hell doesn't Mumias grow its own sugar? Mark 12:29 Deuteronomy 4:16
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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guru267 wrote:Something has been stressing me ever since I joined the NSE... Why the hell doesn't Mumias grow its own sugar? stressed kweli, grow its own sugarcare. Answer is land. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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I assume the TARDA project died a Kenyan death i.e. was forgotten, correct? Sehemu ndio nyumba
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Rank: Elder Joined: 5/21/2013 Posts: 2,841 Location: Here
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Mainat wrote:I assume the TARDA project died a Kenyan death i.e. was forgotten, correct? Ile ya miwa huko Garsen kwa mla mamba? Last I recall walikataa na mashamba ostensibly for pasture for their animals. At some point, the Qataris wanted to lease the same land to grow crops, GoK wanted to irrigate the same place (this I think already kicked off), some conservationists were also against the idea etc etc. I lost track. By the way, why can't we get sugar from non-sugarcane sources e.g beet root as happens in some European countries? Is there anything wrong with that in terms of quality or health? Life is like playing a violin solo in public and learning the instrument as one goes on.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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MP accuses firm of cane poaching - http://www.nation.co.ke/.../-/12qtpq9/-/index.html
The leper called MSC continues to entertain without fail... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 9/30/2013 Posts: 659
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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Rankaz13 wrote:Mainat wrote:I assume the TARDA project died a Kenyan death i.e. was forgotten, correct? Ile ya miwa huko Garsen kwa mla mamba? Last I recall walikataa na mashamba ostensibly for pasture for their animals. At some point, the Qataris wanted to lease the same land to grow crops, GoK wanted to irrigate the same place (this I think already kicked off), some conservationists were also against the idea etc etc. I lost track. By the way, why can't we get sugar from non-sugarcane sources e.g beet root as happens in some European countries? Is there anything wrong with that in terms of quality or health? Tumeshindwa na miwa beet root ndo tutaeza? ESCAPISM! Conservationists didn't irk me much. The NATIONALISTS did. The good-for-nothing bunch shouting hoarse how we shouldn't be auctioning our land to the Qataris. They said we should give the land to Kenyans. What have Kenyans done with the land since creation? We won't do nothing with the lands neither will we let anybody else use it. Even the magnificent farms left by the settlers are no more.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Angelica _ann wrote:guru267 wrote:Something has been stressing me ever since I joined the NSE... Why the hell doesn't Mumias grow its own sugar? stressed kweli, grow its own sugarcare. Answer is land. @Angelica _ann, Very right. Commercially viable production cannot be actualized when relying on small-scale producers bulking the commodity. Have you ever wondered why sugar from Brazil, miles and miles away is ridiculously cheap as compared with our produce? In Brazil, the acres and acres of production are commercially owned and do not rely on poor farmers crying daily of high production costs . That way, the commercial farmers are able to maximize on returns. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Buy when there's blood in the streets, unfortunately seems it wasn't enough to cause some shake off. Am watching too "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Mumias Sugar shutdown due to canecutters strike
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