Monette’s auctioning all BC land through Richie with an unreserved auction.
Same deadline as their farmland sale as well.
What do you suppose happened? Mismanagement? Market timing? Costs? Capital allocation? Likely a combination of all.
The problem is that when these guys come into an area with massive cash and outbid the locals, who plan accordingly for expansion, and then years later fuck everything up, there shouldn’t be sympathy for them on the way down.
There was no afterthought for the local farmers, now they pull out and keep their best land and likely bankrupt the other holding companies, meaning the taxpayer is stuck indirectly paying off any shortcomings. It’s not like Monette helped every community thrive and grow social cohesion. He came, he saw and ultimately he got conquered.
The reason you have to routinely bash and call this out is to stop it from happening again. Monette family will be ok, but no one should reward them with a decent price for their assets. Public humiliation should be embedded in the cost.