Broadacre and Wigmore

[bucket]

These guys just tightened the rules for the rest of us that take a more sensible approach. Too bad for guys that grow at the lower part of the cycles instead of the clowns coming in at the highs.

[westernvicki]

It just proves how difficult farming really is when what is expected to be the smart money fails and those of us less glamorous folk who survive and thrive in the real trenches of business should take a little bow.

Let me pat your back, and ours too.

Way to go.. keep going.

[Rareearth]

Bankruptcies and stories should be on the back page, and much to be learned by them.

There is enough negativity in and around, with agriculture. The positive and good stories must be pushed forward - it is so easy to be negative, to knock those who take risk with new ventures ... and much more difficult to build them, and sustain.

It is disappointing Scotia Bank, heard similar with Mustard Capital?

[farmaholic]

Well.said westernvicki

Rareearth, put yourself In Scotiabank's shoes. If you saw trouble ahead wouldn't you want your money back or to protect yourself? If the BTOs want/deserve the front page/glory on the way up, they deserve the same when they fail--REALITY!!!

[Rareearth]

"They deserve" ? Ouch
A little bitter, a piece of chocolate with the coffee (dark 80%) might be the medicine for the day..

[bucket]

Farmaholic

Much like people that get phone scammed or madoff ponzi scheme scammed, no investor wants to read the front page and find out they were scammed.

And even fewer would admit it.

Kostal is owed 8000 dollars and he gives farmers advice using his due diligence???

Does he lose some credibility because he didn't do his?

[dave4441]

Stupid comment bucket. He is a grain market analysis not a credit analysis.

Like saying you lose credibility as a farmer if you sell grain to a hog barn and it goes down.

[farmaholic]

My comment isn't directed at investors losing their money but to thinking hiding or minimizing bankruptcies is okay but all the drum beating and front page news while promoting the investment/business goes unquestioned? One begets the other. If you take the glory accept the shame.

As for the investors and/or "creditors" .... due diligence AND assess the risk. If you can't afford the loss don't invest. No guarantees.

[farmaholic]

If management was able to resurrect a defunct company from the ashes like a Phoenix, would that be buried in the bowels of farm publications?

Goes both ways

[freewheat]

Farmaholic, I feel the same about FCC. How did they get caught like this. This is a company who would not lend me money for land 5 years ago. Yet they loan millions to a bunch of arrogant losers.

[samhill]

Free- FCC means "For the Children of the Chosen.
Lots of us they won't look at, but they always like you to submit all your financial records for their database.

[freewheat]

Yeah I noticed that. I gave them more info than was required by anyone else in my career. Took them pages of info. And they said no. FOR LAND! Took the same papers to the Royal, they approved me in 2 days.

Either you think they are awesome, or like me, I do not think much of them at all. And even more so now. Putting millions into an entity which was already near having to pack it in, (wigmore), is unreal to me.

There is an article I read where one of the Wigmores said they were having to get out. And yet FCC to the rescue with millions? Not to mention the other creditors who obviously either can't read, or think stupid acreages make you somehow immune to losing money.