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Special Committee on Cooperatives committee  That is absolutely correct. As I mentioned earlier, co-ops are neither public nor private, by definition, and there are certain exemptions that take place. Really what we're talking about there is that certain parts of the tax act are applicable or exempt, and the waters are rea

July 27th, 2012Committee meeting

Bob Nelson

Special Committee on Cooperatives committee  That's absolutely right. We've gone through tax audits in the past, and as we work our way through those audits, we can actually talk to three different people in a tax department and get three very distinct and different interpretations of what's there and being stated. Again,

July 27th, 2012Committee meeting

Bob Nelson

Special Committee on Cooperatives committee  I think we simply wanted to add on to that. This is the TDCS program that is scheduled to end in 2016, and it does reference patronage to our members. What it effectively does is to enable the issue of eligible shares that defer members' obligations to the time of the actual cash

July 27th, 2012Committee meeting

Bob Nelson

July 27th, 2012Committee meeting

Bob Nelson

Special Committee on Cooperatives committee  If I may, I'm actually going to go back to one of the recommendations that we talked about. It was the tax implication, but I want to extend it more broadly. It was in relation to private versus public treatment in terms of taxation. Here, cooperatives fit nicely in that category

July 27th, 2012Committee meeting

Bob Nelson

Special Committee on Cooperatives committee  We'd very much like to participate, yes.

July 27th, 2012Committee meeting

Bob Nelson

Special Committee on Cooperatives committee  I certainly have no aspirations.

July 27th, 2012Committee meeting

Bob Nelson

Special Committee on Cooperatives committee  To my knowledge, we have not participated in it. In fact, my experience with UFA has been for about eight years, and we certainly haven't done so in that timeframe. I wasn't aware of the program, nor was I in my past life at a publicly traded organization.

July 27th, 2012Committee meeting

Bob Nelson