$78,000,000/67000ac

**bucket** · Apr 5, 2015, 12:10

I was thinking about that the other day. Then I thought it was like the new math my kids are learning and ignored the numbers. There are so unbelievable it's hard to believe no one at fcc didn't lose a high salary job and everyone under him/her.

**bgmb** · Apr 5, 2015, 12:19

FCC probably lent on the land they owned and probably had first mortgage on it.... they should come out ok. Thats a lot of assumptions tho.

**lesm** · Apr 5, 2015, 12:21

The first time I heard Pike speak in Saskatoon, I couldn't stand bullshit spewing out of his face and walked out of the meeting. Too bad so many went down because of the crap he preached.
Obviously, he was became so cocky that he believed in his shit.

**SASKFARMER3** · Apr 5, 2015, 12:34

Fcc im sure had a 1st mortgage on land and is covered. RBC is second on Section 427 and will get theirs covered. All others are going to be shit out of luck.
This is prime example of a shit show that bull shits every one. Lots of flash, big headlines and top management.
MOM POP and sons still the best run but hey we mean F$%K all in the big picture.
This is like the new math.

**bucket** · Apr 5, 2015, 12:38

78 million on 8000 acres.

I could run mine out to about 30 million.

Everyone ok with that?

Lol.

**farmaholic** · Apr 5, 2015, 12:38

Maybe its the new way. Go BIG or go home. You only have to pay the credit back if you have a conscience. Some have so little to lose or haven't signed any personal guarantees. Or somehow filled their pockets before hitting the wall with no concern for the creditors. Farming is a business the normal corporate model doesn't apply to, not enough room for all the leaches, professional fees, pay full retail for everything because no one does something for nothing. Then sell what you produce for wholesale prices. Not enough control for the large corporate model.

Those responsible should be made an example of, that you can't roll the dice(play the game) and walk away leaving others to pay the tab....

**farmaholic** · Apr 5, 2015, 12:41

SF3, imagine how inconsequential I feel compared to some of you guys.

**bgmb** · Apr 5, 2015, 12:44

Even 3 years losses at $100/ac per year plus $300/ac of machinery financed to the nuts is still only ~$600/ac of debt.

**bucket** · Apr 5, 2015, 12:45

I myself like to feel insignificant but no one will buy me out.

Some have tried to cherry pick but it's all or nothing.

$78,000,000/67000ac