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| I was curious to learn that at the hearing. The original news release said "The suspension is based upon the failure to file accurate monthly financial statements to the department as well as a failure to meet minimum net worth requirements." Which would appear to say they didn't have the cash reserves to cover their contracts and they didn't file timely or correct monthly statements.
My visit with Darwin and my tenant left us with the impression that there was no benefit to haul beans to Kanawa so they could haul to Creston or Cedar Rapids and that the operation was smaller than my tenant felt comfortable depending on. They only have the capacity to handle beans from about 10,000 acres. My tenant has contracted some non GMO beans to Creston but for my farm we'll be dealing with the local elevator. I've not sold any yet. Probably should have Thursday.
Latest word from the state is that the hearing is set for September 18 at 9 AM, but they expect a settlement agreement before then.
Gerald J. | |
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Verified Grains revocation hearing.
