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western iowa,by Denison | Conduit is owned by some members, some retail company's and Landus, when you search it looks like Conduit bought or guaranteed Landus loan with co-bank
I have no idea, lots of things getting removed from web sites
Hopefully Conduit didn't take over Landus and it will be no more co-op and be absorbed by Conduit
The pass CEO throws 10% of the workforce to fired status long enough to make smoke screens to get out of Dodge so to speak
I was a member of West Central, since I did not do any business with them, they removed me from membership about 3 -4 years ago, it took us 15 years to settle my Dads estate with them, at last we had $50 left, and they wanted a death certificate from his death in 1995
I'm concerned as co-bank is part of the farm credit banks,it would have a effect on everyone that does business at farm credit and the larger co-ops that do business with co-bank
A few years ago Landus borrowed 1Billion dollars I believe from co-bank or ???
When you read into what I could find on the Landus yearly report it looks like they borrowed 40 million dollars more on a profit of 1 million dollars for 2024
I'm a cattle feeder,I borrow a lot of money ,I know at times my numbers look total wrong following standard accounting methods
This going's on's make a cattle feeder look like a Princess as far as accounting goes!
I guess some local farmers could buy there local old elevators ,though they have let repairs go and would be something a person might not want to touch with a 10ft pole!
somewhere in all this Landus moved to Des Moines, and Landwerx Seem's to not have much information
Edited by garvo 4/8/2025 08:21
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Landus board member resigns
