Are the Fall of Super duper Operations hurting the average Joe!

[freewheat]

Grhamp, not to defend them, but in a lot of the area they are in, it has been disgusting for weather. Not everywhere had a bumper with bumper prices.

[bgmb]

just read the financial statements looks like they managed to lose 33 million in the last 2.5 years.

[GrahamS]

True enough. I get no pleasure in someone going broke. Just genuinely curious how they ended up this far underwater.

[JDGreen]

I get great pleasure in seeing this corporate debacle unfold. I get ZERO pleasure in watching any family farm, large or small struggle.

[helmsdale]

JDGREEN i agree in the macro sense but cant help but feel for some of the families caught on the wrong side of this. As family farms we are crowded out in the land rent/purchase market by these industry giants and told that it is our fault we cannot compete. How are we to compete though with those who obviously do not properly price risk into their operations?

[furrowtickler]

Family farms tied up in this circus were likely in trouble before they held hands with Pike - sad but true .
At the end of the day stand in your own - you fukin don't have to get bigger to survive , that's a fairy tail pushed by line companies, these investment trolls and chem companies .

[JDGreen]

Helmsdale I am not getting any satisfaction in watching some of the small time private creditors taking it up the wazoo!! Let me make that clear.. Gary Pike has sickened me for years, this is where the pleasure comes from. He has ZERO credibility. Wigmore morons that bought his shit and licked it up like pigs at a trough, all the while looking at the rest of us like we would soon be their dessert. Those types I also get great pleasure out of watching suffer.

[ColevilleH2S]

bgmb. If you run your numbers, it works out to a loss of $189/acre/year. Wow.

[bgmb]

i got my numbers off his the financial statements provided in the 100 page notice to creditors document. The financial stmts are an interesting read.

But we dont really know how many acres they farmed in total so hard to say what loss per acre was. it said somewhere 65000ac but not sure if that would include wigmorefarm

[blackpowder]

Grasses' posts dont read very well sometimes in my opinion. Don't hold much stock in them myself.
Pike, on the other hand I never felt worthy of kissing my ass.

[dave4441]

Those kind of losses, from a guy that sold himself as someone who could mitigate both production and marketing losses. Apparently that wasn't the case. Or he didn't practice what he preached. Something is up on this one.

[blackpowder]

BTW, what was his lackey selling at the PMG booth at Agritrade?

[furrowtickler]

Any of these fast talking wizards who proclaim to have answers that have never farmed through 6 years of mud or 4 years of drought - and made it with zero outside 'investors' will never have a clue how to make it farming long term .
It was fukin laughable to watch when Pike started this ponzi scheme and how people fell for it .
Same as Sprott - too many fingers in the pie.
Impossible to work with production and quality fluctuations that are uncontrollable - Mother Nature, to make paper numbers work in real life.

[SASKFARMER3]

What a great read the notice to creditors.
Wow 20% loans, really at that rate it's a sign your toast.

[farmaholic]

Is the over $475,000.00s owing to Agristability and "overpayment" from Agristability?