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Update on Matanuska Maid

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From the email voices of those who know the 411 at Matanuska Maid:

This is more on the mess!  The Board/Commission will be taking steps very soon to dissolve the corporation and at that time the state law requires them to prove they can pay their creditors and obligations. This should be interesting.

Also, ALRF has money but the law does not allow the Board/Commission to spend it on Mat Maid. They are going to have to ask the legislature for money. There may be a loop hole under "protection of assets" but it is not
easy to do it. 

Bottom line... they will ignore the rules and law if they can!

If they negotiate their creditors down and use the state's $600K to get things paid off... they still have to deal with the two outstanding employee lawsuits. 

VanTreek is getting tired of the negative in his life but cannot afford to back off until they reach a settlement.  The Governor had the State Troopers investigate Terry Clark for theft so she will stop at nothing.  Internally, the AG, Tina Otto is trying to keep this bunch coloring inside the lines!

AIGA... it is hopeless and so is a gas line unless there is a miracle, but my guess is Transcanada will end up with a contract and $$$$ from State but we get nothing except hype!  Even that will cover the gov for a couple of years. 

Word is... Gov will run against Lisa, Therriault will run for gov, and
Wilken will rerun, win and step down in two years to replace Jim Whitaker in the FNSB so that he can support Therriault.

Also:

A search on line shows no evidence of a "South Central Dairy" entity of record or with a business license; however, there is a business license for:
"Valley Dairy", Kyle Beus sole proprietor, issued January 8, 2008 for manufacturing.
This is the same guy that the ARLF charged off approximately $500,000 in a Deed in Lieu of Foreclosure Settlement (public information) AND currently has a IRS lien for over $40,000 (public record).
Someone ought to ask for a copy of the "amended lease" that now includes significantly more equipment and was done after the Board approved a lease to South Central Dairy for only 12 pieces of equipment.

 

Word from one of the last men out of the plant last Friday.  SouthCentral Dairy Joint Venture pushing HARD to be given ALL the remaining equipment, case washers, cases, lab equipment, office furniture.....the whole shooting match. (read more click headline) 

 

In my mind that would be GRAND THEFT.  How can this continue like this?  It looks like they are "giving the farm away"....literally.  There will be nothing left to auction in order to pay the creditors.

Lawsuit ugly beyond words.  They are trying to beat the employee lawsuits down in attorney fees. Lyda was our last hope in stopping this corruption.  Andrew Halcro can only do so much through his blog and the Frontiersman and the Daily News will not touch any of this as it will make Sarah look bad.
 
Sarah is giving more attention and favors to four neighbors than her own state asset.  And now to be giving it all away.  They risk the creditors suing the board and the state.  The board's duty is to take care of the employees and the creditors, not 4 farmers.
 
With the BAC being the same 5 people what hope is there?

Where are the financial statements for the past several months? With the looting, the corpse will be stripped of all of its vital organs. 

Andrew Halcro's blog

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MAT MAID THEFT

Submitted by Anonymous (not verified) on Wed, 2008-01-16 15:37.

Why on earth should the creditors have to settle for anything less than a penny less than they are owed? The $600,000 appropriation was for Mat Maid, not 4 of the governor's neighbors. The creditors have waited 7 months to be paid. In the meantime, this new board voted in nearly a 50% price increase paid to the 4 farmers, leaving even less for the creditors. They are volunteers with seemingly no background to make them qualified. To make matters worse, at last night's meeting this same board voted to pay the farmers for their milk once again....and not just the milk they are dumping onto their fields but all of it.(What happened to the concern about the milk contaminating the water table and killing the fish???....DEC where are you??) Northern Lights Dairy is buying 40% of their milk at the inflated price so it appears these farmers are getting paid TWICE for 40% of the milk. This is outrageous! It seems this new hand picked board is derelict in their duties and should be fired immediately. Lyda...How is your audit of this group coming? With both boards being the same, anything goes. No one is checking on the facts or figures. You have a State board running the final days of this corporation like a social agency....paying for a product that is not being used by Mat Maid. An out and out subsidy, gift...call it what you will. This payment supposedly is for only one month retroactive to December 18 to present. So what happens for the next 5 months? Will they come back once a month at each board meeting begging for more? Once the State starts paying them it will not be able to get off the hook. Kyle Beus stated on last night's news that he can sell cheese perhaps around Mother's day. In MAY. This guy's date changes with his underwear--daily. He has said numerous times he would be ready December 14 to start taking milk. Then January, then March and now May. Sarah Palin even was quoted on December 8 in the paper as saying her board had done a great job in providing the farmers with adequate time to come up with their plan. So is anyone seeing how insightful the old board was when they voted to close? This will cost the state a lot more money. Where is the accountability of this board? Joe Austerman on last night's news also stated they thought they could come out in the black to the tune of $500,000. If that is the case....crediors, hold your line on what is owed you. Demand to get paid in FULL! Why is Kyle Beus's business license only in his name? This was supposed to be a co-op. Was the equipment lease in his name or the South Central Dairy Joint Venture? How much equipment really left that building? Who is responsible for payments? The co-op or Kyle? What kind of credit risk is he if he stiffed the State for $500,000 and also owes the Feds over $41,000

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Creditors told "NO"

Submitted by Anonymous (not verified) on Thu, 2008-01-17 07:53.

A Mat Maid creditor recieved a phone call yesterday from Joe Austerman who is running Mat Maid now stating that he would not be getting paid. Austerman said that the Corporation was "being dissolved." This was less than 24 hours after Austerman and Chairman Kristan Cole were on Channel 2 stating they were doing great on getting the bills paid and hoped to end in the black. He says "Things look favorable. We've done everything we can to preserve as much cash as we can return to the ARLF and the state have money for other folks who'd like to be in the Ag industry." So............ the preserved cash he speaks of must be all going to the farmers in the vote they took Tuesday night to provide these 4 people with more $$. This is money being paid for milk being dumped on the fields, but the creditors are being told they WILL NOT be paid? This just is not right! The farmers continue to be paid on the backs of the poor creidtors who have been patiently waiting. So, how do THEY get paid?

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