Dumb question

[cottonpicken]

Hate to admit i didnt know this but......act of god doesnt cover flooding,someone else mentioned this?I find it hard to believe.

[cottonpicken]

Whoops,shouldnt have bothered with a new thread,this was Choice's.

[bgmb]

I thought act of god covered any event out of your control.

[vvalk]

Yes act of god covers pretty much anything if you don't have it. Really I think you could spray out your crop with the wrong Chem and it should or would apply. Maybe in the fine print some of this stuff isn't covered but in reality I have never had issues

[TOM4CWB]

CP,

Out In the country, many house insurance policies do NOT cover flooding... only sewer backup. A Separate flooding policy is needed. Crop insurance farm wide will cover a specific crops loss if below the overall coverage level on the policy for that crop.

[TOM4CWB]

VVALK,

On Crop insurance uninsured causes from mismanagement like spraying the wrong herbicide in Alberta is deducted from any claim payable if discovered. It is in the CI policy definitions.

[oneoff]

And this has happened too Quote....


Director resignations at Ceres Global paves way for expansion of Northgate Commodity Logistics Hub

Republish ReprintRepublish OnlineRepublish OfflineReprintBarry Critchley | June 9, 2014 | Last Updated: Jun 9 2:53 PM ET
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.One year after a bitter proxy contest and 10 months after a management transition was put in place, the old is finally out at Ceres Global Ag Corp. Toronto-based company focused on two primary businesses: a Grain Storage, Handling and Merchandising unit, and a Commodity Logistics unit.

Monday Ceres announced two directors, chairman Gary Selke, and Tom Muir have resigned. Selke is a senior executive at Front Street Capital Management, the firm that used to manage Ceres until last summer when a change was made as part of the management transition agreement. Ceres also announced Douglas Speers has been made chairman.

As part of the resignation of the two directors, VN Capital, a New York based investment firm that led the proxy fight and which has been advocating change at the former closed end fund for a number of years, has bought the shares held by Selke, Muir and Michael Detlefsen, the company’s chief executive officer. In all VN Capital bought 1.05 million shares at $7 a share. After that purchase, VN, whose founding partner James Vanasek is a Ceres director, has a 16.1% stake in the company that went public in late 2007 at $10 a unit.

“The message to shareholders is that finally the conflict between Front Street and VN Capital has been resolved,” said Vanasek in an interview Monday.

One of the key issues between the two was the development of the company’s Northgate Commodity Logistics Hub. Based in Saskatchewan, Vanasek said VN wanted to develop the project much faster and with broader sources of capital (by issuing both debt and equity) than Selke, Muir and Detlefsen, wanted, who wanted to rely on proceeds from asset sales. That project will cost $90 million and could be a “game changer,” said Vanasek, adding that the project will involve the construction of a loop track, grain elevators and an energy site. Previously, Ceres has said that Northgate will “offer Canadian farmers and oil producers a new cost-competitive point-of-entry into the United States, the largest market in the world.”

[oneoff]

http://finance.yahoo.com/news/ceres-global-ag-corp-announces-110000418.html

Thats a link to a NEW $20 MILLION financial loan for the above company at 6.75% to 11% interest rates.

And here I thought one only gets a quarter per cent or so on deposits. OK maybe risk makes this double digit rate (6 months from now) seem reasonable.

Looks like there is lots of stuff going on below the radar. Don't expect to find out until it's all over. My guess is that Trans Canada pipelines
will soon be in the oil shipment by rail business; and Scoular will eat someone for lunch.

Who says the proposed Northgate to Moosomin NEB regulated oil line is "dead and buried"???. And then there is a proposed Northgate to Cromer seperate line. Why would they both terminate at "Northgate" and why the need for two (or possibly thre actual lines??)
Maybe TransCanada is just preparing a submission for the NEB to mull over for half a decade.

[vvalk]

Thought we were talking production contracts

[Hopperbin]

Vvvalk act of god on a grain contract should cover the min bushels contracted no matter what happens. If you dont have the bushels or tons clean your ok out of contract. No penalty. I did have to call ins about toms statement. I thought flooding was ins on a house. So it turns out flooding over top and seepage is not covered but it is through disaster assistance. A govt prog that kicks in if your house ins is refused.