I guess the value of the pools was still there but farmers equity had gone poof...
It was a collection of assets that sold to the highest bidder. So yes the equity went poof, because there wasn't even enough to pay the debt. That's usually what happens in bankruptcy.
So the 600million spent on the Roquette plant needs government money for 250000 tonnes ...that same money would build 12 high throughput elevators and handle 20 times the grain...obviously good money for Roquette's plans on protein but still requires taxpayer $$$$
It seems the people that control these deals are never held to account as to instead of borrowing money to someone new they just don't give the existing player time to gain back what they had lost...
Tell that to the principals of ILTA. Their equity went poof too.
[B]Anybody that was that tight would have been back hat in hand next year. It is an easy out for someone to sell to a BTO with an insatiable appetite for growth. I highly doubt that FCC or any other lender restricts a loan to a farmer to force it to happen. Guarantee that is happening at FCC...[/B]
Not a chance in hell that it is set up and happening. There may be farmers that can't get additional financing to go another year. There may be farmers throwing in the towel and selling to a BTO. But to say banks and FCC have a plan to do this is such small town coffee talk.
Bucket you have good ideas and usually think things through. But these ones are such BS you should know better than to tout them.
It was a collection of assets that sold to the highest bidder. So yes the equity went poof, because there wasn't even enough to pay the debt. That's usually what happens in bankruptcy.
So the 600million spent on the Roquette plant needs government money for 250000 tonnes ...that same money would build 12 high throughput elevators and handle 20 times the grain...obviously good money for Roquette's plans on protein but still requires taxpayer $$$$
It seems the people that control these deals are never held to account as to instead of borrowing money to someone new they just don't give the existing player time to gain back what they had lost...
Tell that to the principals of ILTA. Their equity went poof too.
[B]Anybody that was that tight would have been back hat in hand next year. It is an easy out for someone to sell to a BTO with an insatiable appetite for growth. I highly doubt that FCC or any other lender restricts a loan to a farmer to force it to happen. Guarantee that is happening at FCC...[/B]
Not a chance in hell that it is set up and happening. There may be farmers that can't get additional financing to go another year. There may be farmers throwing in the towel and selling to a BTO. But to say banks and FCC have a plan to do this is such small town coffee talk.
Bucket you have good ideas and usually think things through. But these ones are such BS you should know better than to tout them.
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