Was it bound to happen?

[ajl]

One of the major problems here is how much
this goofball and his lenders have raised
the cost of production for his more
sensible neighbors? Land rents and input
costs higher that they otherwise would be.
I hope to see this operation and many
others on the auction block in the near
future. I was hoping to see Wigmore on the
block as well but so far they have avoided
that by finding more gullible investors.

[freewheat]

ajl, is Wigmore in deep? I only ask cuz I
have some relatives who think wigmore is
"the ONE".

[agstar77]

When you think you know it all, you find you know nothing.

[phoenix64]

this fiasco happened because banks and investors are making next to nothing on cash interest.. wd-9 everytime you make a deposit in savings you are letting your banker lend on your behalf to make money on your money. Banks and investors right now think that ag is a cash cow and they will jump at the chance to lend to anyone that looks like they can pull it off. This will continue as long as interest rates remain low and we enable them, so don't sit there and whine about it when it happens, instead get involved in your local credit union boards etc and watch where your money is getting lent to.

[Kodiak]

<a href="http://m.theglobeandmail.com/news/national/time-to-lead/new-business-model-grows-family-farm-into-global-player/article1315212/?service=mobile">
news article</a>

[freewheat]

Blame the banks? lol How about the dude
who faked it all? Probably lied to the
banks. Actually, he MUST have lied.

[freewheat]

Blame the banks? lol How about the dude
who faked it all? Probably lied to the
banks. Actually, he MUST have lied.

[freewheat]

Blame the banks? lol How about the dude
who faked it all? Probably lied to the
banks. Actually, he MUST have lied.

[freewheat]

Blame the banks? lol How about the dude
who faked it all? Probably lied to the
banks. Actually, he MUST have lied.

[freewheat]

Kodiak. Looks like it is only a matter of
time for Wigmore farms. lol

[phoenix64]

yah blame the banks, everyone sits there with their thumbs up their keester until something like this happens and wonders why? if the guy was truly hood winking everyone the banks would have found out when doing their due diligence.

[hedgehog]

wd9 i agree with everything you say.
scotland has its share of these twerps who drive rents up to stupid levels, then disappear, but leave us with the high rents for ever.
they are all getting found out in 2012 though.

[freewheat]

The creditors are currently looking for
tractors that apparently do not exist.
Sure the banks should have dug deeper, but
the man doing the borrowing did this
himself.

[hobbyfrmr]

The strange thing is, these people don't lose
much sleep over this. They will go bankrupt, and
within a couple of years they will be exhibiting
their "greatness" on someone else.
I like successful people that build successful
enterprises. This farm hoodwinked everyone
around them that is unfortunate. Another
observation is, that, mrs. stamp is just as guilty
him.
Living large on other people's money. Then the
children grow up living large not knowing how to
earn or create value. All they know is they are
living rich. They don't know they are broke ass
clowns

[phoenix64]

do you really think this fella was bothered much by the failure? he started with nothing, took a chance and left with nothing hopefully, again the onus is on the lenders that are spilling out money on creditors behalf.