Input Capital Massive Lawsuit?

[Crestliner]

Anyone know about this? A friend of mine told me several farmers are talking to the Big M in Regina about taking the case.. Any truth? How many people have they helped? How many have they hurt? Just curious....the farmer next door signed on last year. He rents everything and spends more than he makes. Is that success today?

Inputs financials seem to be improving and they have new products and the outlook is rosy on the website.

Just don’t know, what’s up?

[farmaholic]

Do you think there's any holes in the Streaming contract?

Maybe the Big M firm drew it up

[iceman]

Anyone know about this? A friend of mine told me several farmers are talking to the Big M in Regina about taking the case.. Any truth? How many people have they helped? How many have they hurt? Just curious....the farmer next door signed on last year. He rents everything and spends more than he makes. Is that success today?

Inputs financials seem to be improving and they have new products and the outlook is rosy on the website.

Just don’t know, what’s up?

SH!T......................,

Iceman's Lear will be replaced with a reverse wing paper airplane

Say it's not true

[hobbyfrmr]

I struggle to believe that farmers work with these people knowing the consequences if it goes wrong.
I think I kind of understand. The new farmers might as well work with proper agronomics and equipment instead of trudging through decades of thin margins. If it pays off , excellent. If it doesnt pay off they have plenty of time to go and do something worthwhile.

INP used to be the Assinaboia Land Corp. so they know very well that the end game is farmland ownership. This is just a new indirect method of success.

[farmaholic]

SH!T......................,

Iceman's Lear will be replaced with a reverse wing paper airplane

Say it's not true

Use the share certificate to make the paper airplane.... maybe get some "lift" on those stocks.

Sorry, I couldn't help myself.

[Farmhouse]

Input capital is officially getting sued!!!

It is officially as of today input capital is getting sued by a large group of people... CBC has a media report on this ,this evening!!!

[the big wheel]

I wonder if this will open the door to looking into the biggest insider trading scam in Canadian history how some bought land prior to everyone else knowing the foreign ownership laws would change? And forming a co to sell that land at outrageous profits based o. That knowledge?

[hobbyfrmr]

I wonder if this will open the door to looking into the biggest insider trading scam in Canadian history how some bought land prior to everyone else knowing the foreign ownership laws would change? And forming a co to sell that land at outrageous profits based o. That knowledge?

That may be difficult to prove. This would take INP back to the Assinaboia Land Corp days.
I think land ownership was always the end game. Way back in the day, a young farmer of year sold the farm (possibly his parents’ farm) to ALC and then rented about 5x more land and leased better machinery. I am pretty sure this was the business model that won the national prestige that comes with being an OYF.
ALC did well in buying land at moderate prices and selling to Canada Pension Plan. Once farmers realized the appreciation these guys needed a new way to accumulate assets, ergo Input Captial Corp predatory lending. This is going to be very interestng. I figured the 39,000 acre guy would be doing better financially. He probably displaced about 10 young farmers only to go broke and lose the land. Now he is old and broke!! That has to hurt the ego!!

[SASKFARMER3]

Yea the land deal thing even if they were in the same office. won't come up it's a separate company.

But the general farming public needs to see what this group represents.

Easy system and this is what scares me.

1. Farmers like to say they had big yields.

2. So your a west side farmer with say average canola at 55 because of its been raining.

3. We go back to normal rainfall and that drops to 30 or less.

4. You owe them 25 bushels at whatever they paid you maybe 11.

5. Phone Richie bros.

6. Oh, wait they have everything.

7. They manage because its just one year.

8. Normal weather happens for 10 years.

9. They get the land.

10 You get the shaft.

Great program.

[farming101]

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

[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