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SC Iowa | story from way back when.....
There was this large southern Iowa farmer who was having PIK certs delivered out of KC by airplane......the pilot would open his door and toss the package out on a county road.....on one particular day, it became windy and the pilot didn't feel safe tossing the package out, thus the farmer missed getting his PIK certs turned over to the local office.......as it turned out, it was a pivotal time in the market and it moved sharply against the farmer before he could get the certs..he attempted to sue the pilot, to no avail...
Also had a farmer call me and just had returned from overseas military deployment and had 30K+ bushels in govt loan program which could be redeemed by using PIK Certs........told him to make it work, we would need to see a nice one day pop in the market and he would need to have a banker willing to create a certified check late in the day.....and then the farmer would need to drive to KC (245 miles) early the next morning and be back before his local FSA office closed so he could redeem.........it all worked out | |
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Can anybody tell me about the PIK program in the 1980's?
