A week is a long time in politics but for Fonterra's leaders the month between their shock financial forecast on August 12 and D-day on September 12 must be feeling like an eon.

Hardly a day has since passed without some bruising revelation, opinion or headline-making development about the dairy company we believed was our global business champion but now seems to have been selling us silk purses that are really pigs' ears.

The knives are out. Wielded not just within Fonterra where we are assured radical exploratory surgery has been under way by new leadership - thus the bad

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