Input Capital Massive Lawsuit?

[bucket]

Why would anyone settle for a lower price ...doesn't all these guys signed up just hurt the rest of the market...

Viterra is involved in this scheme to since they take delivery.

How is that the grain company can't pay on a late contract with a farmer but Input can prepay without delivery and get the guys farm...

There is some kind of stupid going on....and yet the guy amassed 39000 acres .....


This also makes Gormley look like a schyster....

[the big wheel]

Yes I agree would be interesting to note how many of those 10 he replaced wanted to or had to quit? It all starts back when you don't have things like good transportation, wheat grading, pulse deals, fuel prices crop insurance etc etc and if FCC and other lending institutions don't back smaller farmers in tough times this is what happens.

The other thing is yes maybe not a lot of sympathy for someone that went that big but there is a problem with interest rates and business. People that have a poor crop or 2 or 3 as many have had go through tough times maybe a payment is missed etc etc. The first thing that happens is you get labeled as not managing right so your interest as for example I once got behind at input dealer and bang interest 18% retroactively back to day one. Who can plan for that? They say if you make 15% on an investment you are top notch so it's ok for someone to impose a penalty on you and make 18% just because your crop froze or droughted out and that made you a risk?
What made you a risk was crop insurance wouldn't cover drought not seeded acres and wouldn't even pay the establishment without a fight. And then when those people tie you up your assets how do you put the next crop in?
There are all kinds of business vultures out there that abuse the interest rates they charge. Input capital isn't the only one.

When interest rates rose by that small amount how many people were pushed near the edge of failure? And that's just on household debts amounts. How about being a farmer with hundreds of times that debt mostly going where? to the price of over priced inputs etc.

None of us will ever know all the details of this but one thing for sure don't judge these farmers on a few things they did or didn't do. Decide whether or not these business practices are fair or not and not just input capital because this didn't just start there it started long before it's a system problem

[SASKFARMER3]

His land base was mostly rented, they ran the farm for him for two years kind of a shit show how they ran it. Harvested some of my land in one corner never paid a dime.

The best thing about this whole shit show is Joe Farmer can now see free pails at farm show costs.

[mcfarms]

I have decide to help these poor individuals ,I will be passing along their names to the next Nigerian prince that emails me with a fabulous opportunity.
And sf3 those pails are to put your belongings into at the end.

[farming101]

And sf3 those pails are to put your belongings into at the end.

LOL I'll have to remember that one

[SASKFARMER3]

Thats about all you have left after they are done with you a few things in a pail and your out.

[redleaf]

I have decide to help these poor individuals ,I will be passing along their names to the next Nigerian prince that emails me with a fabulous opportunity.
And sf3 those pails are to put your belongings into at the end.

I spit coffee on the iPad when I read that.

[hobbyfrmr]

Not saying he would have made it anyway. But the story is that he got flooded out and then INPUT "loan sharked" him by asking for more and more canola. Correct me if I'm wrong.

There have been stories for as long as people have had land titles of how smart people have got their names added to the title. Usually it's only a matter of time after that

Agreed. My Dad was very protective of his land titles. I didnt totally understand why such paranoia for a nice person. When he got older, he told me stories from the 1940s onward about different tricks to capture land and titles. Squatters, befriending old bachelors, saving on cost of property taxes, strategic marriage/divorces, sneaky family members. He had seen and heard of a lot of crooked title transfers. He was going to have no part of it and his titles transferred to whom he intended from his “cold dead hands”.🙂

[hobbyfrmr]

His land base was mostly rented, they ran the farm for him for two years kind of a shit show how they ran it. Harvested some of my land in one corner never paid a dime.

The best thing about this whole shit show is Joe Farmer can now see free pails at farm show costs.

Yup. Free pails, free hats, free jackets, free appreciation dinners and for the big spenders free winter trip.

[hobbyfrmr]

I have decide to help these poor individuals ,I will be passing along their names to the next Nigerian prince that emails me with a fabulous opportunity.
And sf3 those pails are to put your belongings into at the end.

LOL!!