Notice to Creditors

[SASKFARMER3]

Well I said they were a shit show years ago and again I was right.
One earth I said was a shit show and that I was also right about.
wow
3 mill RBC
14 mil fcc
Rm Abernathy 55000
Chen fert seed companies and advisors.
But the mud isn't hurting farms.
The big dogs can't make it wtf.

[saskcanfarmer]

They sold into the US durum market for those 8-9$ #1 cwad values prior to harvest coming off.. and produced all junk and it made more sense to claim bankruptcy than deliver junk and take massive discounts..

Reliable source passed that info along. Big contributing factor IMO

[bgmb]

From the Broadacre website

Our Mission

To become the preeminent farm operator in Canada by utilizing best farm practices to ensure long-term sustainability of our resources and best business practices to deliver a sustainable return to our investors.

[sumdumguy]

I wondered if FCC was backing these guys. Now I know. Lots of farmers, too. Its funny how they fall for the big flashy new guys in town. There's definitely a limit to what is manageable. You gotta know when to hold em- know when to fold em. Know when to walk away- know when to run. They should have asked Kenny Rogers.

Its tough enough to farm small, but much tougher when spread out all over Western Canada.

[bgmb]

Wouldnt they just walk away from the durum contracts. Then the us elevator would have to try and take them to court for damages which would take quite awhile and there is a pretty good chance they wouldn't bother trying to do that.

[SASKFARMER3]

The mission statements of these kind of companies makes me laugh.
P

[sumdumguy]

What about machinery leases, are they not creditors?

[bgmb]

the guys with land as security will get their money. guys with machinery will gt most of their money and the rest are probably going to get screwed.

[dave4441]

US companies would be the first to go to court.

This doesn't surprise me at all. Gary just keeps going round and round. Amazes me.

[LEP]

Interesting to see the average rent was $35 per acre, but they paid $2,750 average for the land they bought.

Are they renting Grand Coulee or did they buy it?

[Kodiak]

Predictable from day one. Amazes me too. Pike repeats this performance with a bigger show each time, and the hubris that goes along with it is nauseating. At what point does this kind of behavior become toxic to the industry? I suspect those of us who conservatively manage our businesses will all pay because of this.

[farmaholic]

The assholes at the top who walk away after receiving big salaries should be responsible. Creditors who did business with these guys only "because of who they were and the size of the account", do I feel sorry for......not so much. All the while ignoring the smaller rock solid accounts. If you want to catch the big fish, be prepared for what could happen if you do.

As I said, the reality "cheques" are having an effect and taking their toll.