West Central MN (between MMF and Larson's) | Thought one of the typical board duties was too be present for annual inventory. Sounds like opening the GM's notebook or taking his word is all that was done. Instead of doing a weigh up or physical measurements.
When I was employed by Cargill there was a weigh up done at least every other year. I never saw one that came out within 50,000 bu of what was supposed to be there. For the millions handed every year that was still a small percentage but nonetheless multiplied by the price was a large adjustment to the p&l number one way or the other every time.
It also would have raised the red flag sooner |
Local Elevator Closing Part 2
