Will Damien O'Connor save Fonterra's farmers from themselves?

Fonterra chair Peter McBride framed the dilemma facing his farmer shareholders starkly at last Thursday's meeting: "Either we're a corporate or we're a co-operative". "The current model, where we're trying to have a foot in each camp, is not sustainable," he said."At heart, it's about protecting the co-operative," he said of the capital restructure his board has proposed.Fonterra is not only a corporate; it's New Zealand's largest corporate, accounting for about 20% of the nation...