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Devils Lake, ND | GUYS, I WAS JOKING ABOUT ALL OF THIS. I never called them. I though it would be obvious this was a joke. I mean look #4 and #5. Next time (and there WILL be one) I will have to lay it on thicker. I do think this goes to illustrate the stupidity of believing and spreading rumors.
I just got off the phone with them. Here's the deal:
1) They had 400,000 bu. of corn go bad. Their "Winter Grain Storage Specialist" was on vacation, and nobody else knows how to check a bin. That wasn't as bad as it sounds, as the corn was contracted to a defunct ethanol plant. At least now they will get the fertilizer value out of it.
2) Their "Fertility Procurement Specialist" bought ALL of their N,P,K for TWO years last August. They got it for $2 over the river price, delivered, but still.
3) They were in the process of trading all their one year old JD equipment (except for their three DB 180 prototypes) for AGCO, under one of those despised "bounty programs." (That's why all their JD equipment disappeared, as posted.) Unfortunately they got caught buy the collapse of the credit markets right in the middle of this trade. The JD stuff was already resold, but AGCO bailed. So this year they will be forced to run a hodge-podge of 2 to 5 year old equipment of every brand. Even Buhler.
4) Their "Accounting Supervisor" was caught in a compromising position with the "Office Manager." So they have been slow to pay bills and return phone calls.
5) They did get into it with several of their landlords. Like 2/3 of their acres. But they are confident they will get all of those acres replaced. They have sent contracts and signed checks to landlords in all of the "I" states, plus Michigan, Wisconsin, and Arkansas.
6) They traded all their Dekalb for Pioneer because Pioneer gave them a "buy 7, get 3," plus a free Herculex CRW upgrade (from Herculex CB). Surprisingly, it's ALL non-RR. Apparently Monsanto go so incensed over the deal, they shredded their RR crops use agreement.
That's what I know.
Edited by BSchroeder 4/9/2009 12:33
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IL Family Farms
