In 1989, wool brokers, Elders, at the time, introduced some radical changes to their selling charges for wool consignments on large lots over 20 bales. In this article, Bruce Sneddon, the CEO of Primac, holds firm on following suit. After “crunching the numbers” Bruce mentioned in the article “that woolgrowers will find their total wool selling and warehousing charges only marginally altered.”
This article, appeared in the Rural Business publication, September 1989, kindly contributed by Wayne Fischer. Wayne mentioned that “Elders reduced their commission by 20% and warehousing charges on larger lots of over 20 bales. As you see from Bruce’s response Primac maintained it’s charges and didn’t match Elders. I recall this happening and discussions with Tom O’Brien suggested that Primac didn’t lose any market share.”
