Broadacre and Wigmore

[farmaholic]

Could someone clarify paragraphs 24&25 on page 7 please. Too much legalese for me.

Did FCC assume(buyout)KU Farm's loan to Broadacre?

[farmaholic]

Is he still on the "Speaker's" circuit?

http://www.infoag.org/speaker/3/14870/

[bgmb]

This one will hit them where it hurts the most, ego and wallet. when they started this thing I guarantee the thought that they would go broke never even crossed their mind.

[bgmb]

I wouldnt have done what they did and couldnt have even if i wanted to. Athe same time remember that at the end of the day these are people with families and I dont think they were out to screw people out of money. Probably made lots of people lots of money over the years bit off way more than they could chew this time tho.

[MBgrower]

Wow, FCC sure looks to be the fool. Wonder how many heads rolled over this faux pas. Oh well, i guess us litle farmers of 5k and less will pay for this in the long run.

[tstep]

Feel sorry for the small businesses and small land owners that got hooked into this scam but I have absolutely not pitty for these ****ing assholes that figure they have to farm the world. And Heads should roll at FCC for supporting this scam. Took a marketing course years ago that Pike was the teacher and I thought he was full of shit then.

[seabass]

Trouble will all this is they drag the rest of us along. By that I mean higher rent and higher land prices. Setting precedents that are always matched or surpassed. Just stupid and the creditors are the ones that help it along and then turn around and ask way those prices were paid. Someone at these institutions shud be shit canned.

[farmaholic]

seabass, maybe some brown envelopes were passes under some desks????

[oneoff]

If you don't speak legalese; then at least pay attention to the one liners like

"Entire investment may be lost
An investment in the Rights or Common Shares is highly speculative and may result in the loss of an investor’s entire investment. Only potential investors who are experienced in high risk investments and who can afford to lose their entire investment should consider an investment in the Corporation."

And if you do get involved; you can be in financial trouble; even when on the secured creditor list.

Many could testify that all the many anonymous unsececured creditors are shit out of luck. You'll not hear the details of most of those specific sad cases; but rest assured that the last collapse/bankruptcy/forclosure will not be the last collapse/bankruptcy/foreclosure.

Some of those future disasters are near 100% predictable; just like the Broad Acre example; and One Earth deals; and CPP outcomes; and QE; and inflation turn good money into pennies on the dollar..

[bucket]

Dave4441

It was a general question. Kostal was an example.

If I would have invested I would have used my name.

But thanks for your critique.

Just for fun I am saying black. Let's see if you say white.



Speaking of Kostal as a grain analyst. A neighbor of mine had his flax seed bought one year, went to Kostal's expert presentation as part of his own due diligence ,came home and sold it because Kostal said flax had no future that coming year. Flax went to 15 bucks that fall. I don't think my neighbor even got that much for the seed he sold earlier in the spring.

[farmaholic]

oneoff, that didn't answer the question, Did FCC assume/payout KU Farms position in BroadAcre?

[oneoff]

I too was speaking in generalities; and used a quote from a certain "grain" companies propectus.

A similar question is would it be smart for a farmer to deliver and lose 100% control of their physical product; to a companylicenced only as a grain dealer; and with zero track record in Western Canada.

However; I will attempt to give an opinion on the last question; after doing some further research. Its a fair question; and I just have no knowledge; yet; of the circumstances.

In the same vein; I would ask for some support or at least contradictory points of view on equally important issues.

A lot of the time it is apparent that some people just get used as whipping boys; to deflect attention in other directions.

[bigzee]

Wondering if anyone would pre pay for fert etc from Wigmore with their financial situation?

[hobbyfrmr]

I think the only people who know about this mess to any degree is the people on the letter to creditors, the people following this thread and those closest to wig more. Otherwise this little bump will go unnoticed in western Canada. If Wigmore company has any sense they would not continue to sell product. That's the weird/ frustrating part of companies too big to fail.

[Hopperbin]

What about loan ins? Am thinking this shit show would have been required to carry loan ins considering the debt level. How would Ins play out? Who would provide the ins? I dont carry it cause I consider it a cost I dont need and it is optional for me.