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Central Alberta | I don't remember the details too well, but there was a retired NHL hockey player who decided to put his millions into farming in Saskatchewan. I think he was farming something like a hundred sections, but he had to shut it all down a few years later. I don't know if the losses were ever disclosed, but it was considerable.
I know another farmer who sold his land to a coal mine for about 20 million dollars in today's money, and he set himself up farming somewhere else on a huge tract of land. He was forced to sell out about 10 years later. Imagine having all your land paid for and not making it.
I suppose it applies to all businesses, but particularly farming; you go backwards when you have it easy, and you only go forward when you think you're on the brink of bankruptcy. | |
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