XL story

[forage]

rk definitely a loan. But how do Farm Credit get their money back after XL declares themselves bankrupt.

[grassfarmer]

Which part do you not believe Randy? .... that they
would ask for it? or that they would get it?

[rkaiser]

Sorry GF. Your first post sounded like they were given 40 million.

Asking for a loan and actually getting it? - Very Likely. Using leverage - very very likely. Conning the government and then selling the plant right after they got the loan... Even more likely. Paying it back? LMAO. Get in line. Or maybe they put themselves in first place and the rest of the payees will simply get less or nothing.

Yes there needs to be an inquiry. But who will do it?

Another good story that fits along with this one was when the NB boys got the 1.6 million to upgrade grind facilities and then shut the plant down in Calgary right after. One government arm not knowing what the other is doing. Do you think that the government boys who saw the potential for more jobs and more business as soon as they gave the 1.6 million to NB for the upgrade scratched their little heads when the plant in Calgary shut down?

There is nothing that NB would not do to make a buck or con a few out of the government. All in good faith...LMAO

This time though, I think they are hooped. They are going to have to do some fancy stepping to keep the government, the debtors and the lawsuit lawyers from taking everything they have. That "Karma" is a funny and perfect thing.

[forage]

The question to be asked is just how much money in Alberta government loan guarntees,federal govern. loans and grants did the XL brothers get then transfers out to buy their ranch under another company name. I believe they still owe a wack of money to Tyson Foods for the original purchase. I do not think JB is interested in the Brooks plant only the two updated plants in the U.S. Just my opinion.

[grassfarmer]

Never mind Tyson Foods they never finished paying
the SK Government for the MooseJaw plant either. I
don't think you are correct on the US plants - the
Nampa plant is 85 years old and has been closed
since June 2011. I'm sure JBS could have bought that
for small change if they wanted to. Their plant in
Grand Island Nebraska is running well below capacity
so why would they need another, smaller one in
Omaha Nebraska?
I think Lakeside is the one they want - it gives them
opportunities to do different things rather than more
plant capacity in a country they already operate in.
Call me crazy but I think these guys might actually
have a plan to market branded Canadian beef as a
differentiated product in other areas of the world
rather than sliding in the back door of the USA.

[rkaiser]

I'll bite and call you crazy GF. And then I will also say that crazy people are often right.

[grassfarmer]

I just don't see how it makes any sense for them to
buy a plant in Canada if the intent were merely to
ship more Canadian beef into the US - they could just
buy more fed cattle and ship them south to their
plants that are running under capacity.

[rkaiser]

I think there is more potential for collaboration on "Canadian" ventures with JBS than ever with Cargill (unless you have a feedlot or custom feed 500,000 head). Or the power monger Nill boys who had their sites set on owning the entire cattle industry in Canada. WHa Ha ha ha....

That is unless ABP/CCA get their full levy back and spoil JBS like they do Cargill by offing to pay for advertising and anything else Cargill's little heart desires.

And they tell us they don't pick winners at ABP...LMAO