Is Monette Farms like Bernie Madoff?

[BighatPete]

[url]https://www.alvarezandmarsal.com/BifanoNata[/url]

Wow, that's a good find. BC is a tough place to be a farmer, it can be 100K an acre and you can't raise your milk prices to make up for the additional cost.

[jamesb]

Nata Farms just declared insolvency, crumpled under $62M in debt. Farm started in 1960.

From what I know dairy farming is a different deal altogether from other non supply management farms. Quota price for cows is very high and many farms have borrowed to their eyeballs to obtain it. From my perspective we will see the end of supply management in Canada at some point and the industry will look totally different than it is now.

[wrongway]

the list of creditors shows that the big boys will get what they are owed, all the unsecured creditors will probably get nothing. tire stores, vets, the coop.
and on and on. What is even worse is that they will still have to deliver goods that have been contracted even though they'll likely never get paid for them.

[bucket]

Also remember, over time it seems like those that go through insolvency or bankruptcy get to be known as excellent business people. Those that struggle through to make payments and do right, get shit on and mocked as poor.

[Taiga]

[url]https://www.alvarezandmarsal.com/BifanoNata[/url]

[bucket]

Nata Farms just declared insolvency, crumpled under $62M in debt. Farm started in 1960.

More details? That is a dairy farm. right?

[Taiga]

Nata Farms just declared insolvency, crumpled under $62M in debt. Farm started in 1960.

[wrongway]

i would venture a guess that most farmers would prefer not to have a need for HR

[bucket]

Are they doing branded beef?

I don't know, but these guys seem to have a plan to be in everything , seems like a logical step. Thinking there is probably good money in being cow calf, feedlot, then slaughter and branded beef. Can't miss much of the margins along the way. Expensive to get that integrated but chances are the returns are big$$$.

[BTO780]

My cousin who I’d consider successful says do one thing and do it well. Probably more applies to an owner operator situation but seems once you stick your irons in fires you don’t have full understanding or time to get to better know and manage you don’t do as well. Even a mixed farm you’re not going to do a great job of both. There’s always something neglected. I admire the Monette brothers for being able to operate the going concern as good as they are.

The “going concern” is run by numerous going concernies who report to the head honchoes.
There is absolutely no way these boys could actually know what’s going on without several hundred on lookers. Lots of ears and eyes are on the look out there. Chem reps would be on speed dial 24-7 along with an array of other highly educated people.
Couldn’t imagine ….. wouldn’t want to!!
If that’s what it takes to survive they can come visit me anytime.