Was it bound to happen?

[phoenix64]

yah blame the banks, everyone sits there with their thumbs up their keester until something like this happens and wonders why? if the guy was truly hood winking everyone the banks would have found out when doing their due diligence.

[hedgehog]

wd9 i agree with everything you say.
scotland has its share of these twerps who drive rents up to stupid levels, then disappear, but leave us with the high rents for ever.
they are all getting found out in 2012 though.

[freewheat]

The creditors are currently looking for
tractors that apparently do not exist.
Sure the banks should have dug deeper, but
the man doing the borrowing did this
himself.

[hobbyfrmr]

The strange thing is, these people don't lose
much sleep over this. They will go bankrupt, and
within a couple of years they will be exhibiting
their "greatness" on someone else.
I like successful people that build successful
enterprises. This farm hoodwinked everyone
around them that is unfortunate. Another
observation is, that, mrs. stamp is just as guilty
him.
Living large on other people's money. Then the
children grow up living large not knowing how to
earn or create value. All they know is they are
living rich. They don't know they are broke ass
clowns

[phoenix64]

do you really think this fella was bothered much by the failure? he started with nothing, took a chance and left with nothing hopefully, again the onus is on the lenders that are spilling out money on creditors behalf.

[freewheat]

He did not start with nothing. He started
with his daddys farm. That is not
nothing...

[wmoebis]

Take it easy!

These types of guys become our next Agriculture Ministers. Telling us what is good for us.

[phoenix64]

well tuff titty for him and his daddy! at least he had skin in the game and proves he initially had enough equity to get the whole sham started, my confidence is restored in the lending system

[johnsmith]

Chill WD. Larry no need to justify, your readers
are ok with what you stand for. Remember we
the customer knows best. I think its about the
hole you dig, so I was taught, so the big or small
guy that go belly up because of hole depth who
cares it is their choice. Sitting in PV right at the
moment so take note have a cold one and chill.

[hobbyfrmr]

Phoenix, I am starting to see it your way
somewhat. The guy did have enough moxie to get
stuff built and function for a decent amount of
time. The problem is, he is going to leave a lot of
financial stress on his employees and suppliers
and banks at a very bad time.
The good news is, it looks like his infrastructure is
built and functioning. In true capitalist america, a
more financially sound company can step in and
buy it for sixty cents on the dollar . I have a good
friend in the US that works for one of the big 8. I
have sent him the clip. They may be shopping for
a good elevation system in a strategic location like
Decatur.