GrainCorpWell, unbelievably the ACCC has given approval to the $3 billion sale of Australian-owned grain-handler GrainCorp to US company Archer Daniel Midland (AGM)The deal still needs Foreign Investment Review Board approval (but when did that outfit ever say no to foreign ownership?)Following that new Treasurer Chris Bowen will have the final say but don’t hold your breath hoping he will find in the national interestGrainCorp’s Board has agreed to AGM’s offer - they want the cashWhether shareholders will be so compliant remains to be seenGrainCorp owns and controls storage and handling facilities at ports on Australia’s east coastIts port access deals expire next yearAnd farmers believe, rightly, that their access to these facilities could be restricted and costs could rise once ADM is in controlIsn’t it time foreign ownership of vital Australian agricultural assets became an election issue?Has Kevin Rudd got anything to say on the matter?The Nationals and Bill Heffernan object violently to the saleBill Heffernan has described AGM as “a bunch of shonks”Nationals leader Warren Truss says Australians must not allow foreigners to “control of our nation’s agribusinesses”AGM’s Chief Executive, Patricia Woertz, says AGM is committed to investing a further $300 million in GrainCorp if the sale proceedsWell, by all means “invest” but why must we allow these outfits to “own” vital agricultural assetsIt’s time, Chris Bowen, to draw a line in the sand

The Alan Jones Breakfast show: Highlights

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