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C IL | My pops did some Financial consulting with distressed operations back in the 80’s. He told me the Harvestore issue was that the silos were too expensive for some operations to outright build, so Harvestore offered a lease contract (at expensive terms). Many guys built their animal operation around the Harvestore. When the economy turned, they still had that lease payment. When the lease expired, they had no equity, an operation built around that silo, and little choice but to accept the new lease (at what were sometimes ruinously expensive terms). He also said when the bankers got involved some of the leases were renewed at much more realistic rates.
My pops also told me his shake your head later purchase was an almost new 1486 and a Roterra when he came home in 1981? to take over the farm after his dad passed. Said he bought what the salesman fed him hook, line, and sinker and wished he had had some help and advice from the older generation back then to steer him towards some wiser choices. I remember that when we make choices now, that he has perspective because he lived with his choices for lots of years. | |
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The Tractor or Piece of Equipment That Broke The Farm
