In response to the chairman and CEO of Murray Irrigation claiming great progress on bringing the budget back into surplus I wish to point out that they have done so by selling off shareholders assets, that being water.
Most irrigators in the area could easily do likewise to balance their budgets in the short term but obviously in the long term it would have disastrous consequences on their viability and more importantly the local community as a whole.
It has also greatly decreased the value of water delivery entitlements, turning them into a liability instead of an asset, because they yield the holders less water each year.
These delivery entitlements are a critical part of MIL income and if shareholders were to lose faith and pay them out en masse it would have significant impact on the company’s viability.
I believe in the MIA and CIA they have found a way to make them an asset worth owning, why can MIL not do the same?
I find it alarming that professional director Trish Gorman has been allowed to remain as a director while her company is contracted to upgrade MIL’s systems.
Surely if you have to go to the expense of multiple legal opinions to say it’s okay, the gracious thing to do would be to stand down.
I have not seen any evidence of the claim by current management that they have many supporters at any of the meetings I have attended, if this is the case they are very quiet about it.
Surely shareholders voting out the sitting chairman and one other director at the last election was a clear message of discontent.
In closing I would like to urge all MIL members to vote at the general meeting coming up and to give their support to the motion put up by the three directors who have the courage to stand up and say things are not right and a major change is needed.
Yours etc
Laurie Beer
Mayrung
11°C