Class action against Input Capital

[Crestliner]

I find it rather amusing today how this is such a big story, it has blown up on social media and blogs all over....but wait....not a peep on fairytail network “Real Agriculture” or the failing “Western Producer”, or the garbage “Manitoba Cooperator”...What?? I wonder why so quiet? Oh I remember now... amongst all the “fake news” stories they write daily, there was a lot of “Input Capital Canola Streaming Contract” advertising right there beside them. ...wouldn’t want to offend the paying customer! But they have no trouble writing garbage stories about a horse thief, or canola moving up a dollar, or some nonstop drivel. Ag reporting has its own swamp and swamp creatures. We should remember this story was released by CBC...another garbage news outlet. Actually all news outlets are garbage. Half truths and spin all the time. Just ask the people affected directly involved in the bus accident and find out how much lies the news media spins. Unfair and inaccurate best describes them and their ilk. I guess we could view the Input Capital story the same way, HALF TRUTHS!......Rant on news media over...I feel better.

[Ache4Acres]

Leaderpost clip...
............
"He said the up-front cash was also appealing because at the time he was "stretched to the limit" financially but was eager to keep growing his operation.

"Being a farmer, your goal is to get the crop in and harvest it and hit that one big year where you're going to do really well," Feduk explained. "That, I've been looking for all my life."

...................

I would say this was an inevitable outcome for this fellow.

[WiltonRanch]

This fiasco reminds me of Vegas. You have the average gambler playing the $0.25 slots and low ante card games. Then there are those private rooms for the $100 slots and high ante games. Average gamblers max out credit cards and lines of credit. The high rollers without the cash sign over titles. If shit goes south.

[Agvocate]

What I find funny is grain companies can rip off farmers even if they are liscenced and bonded yet no one gets charged or hits the news.

That's a fairly broad statement, what specifically are you referencing? There are tools and rules in place that govern grain contracts.

[KarenBriereWP]

I find it rather amusing today how this is such a big story, it has blown up on social media and blogs all over....but wait....not a peep on fairytail network “Real Agriculture” or the failing “Western Producer”, or the garbage “Manitoba Cooperator”...What?? I wonder why so quiet? Oh I remember now... amongst all the “fake news” stories they write daily, there was a lot of “Input Capital Canola Streaming Contract” advertising right there beside them. ...wouldn’t want to offend the paying customer! But they have no trouble writing garbage stories about a horse thief, or canola moving up a dollar, or some nonstop drivel. Ag reporting has its own swamp and swamp creatures. We should remember this story was released by CBC...another garbage news outlet. Actually all news outlets are garbage. Half truths and spin all the time. Just ask the people affected directly involved in the bus accident and find out how much lies the news media spins. Unfair and inaccurate best describes them and their ilk. I guess we could view the Input Capital story the same way, HALF TRUTHS!......Rant on news media over...I feel better.

Hi! I'm actually working on this story right now, reading the court documents and such. Just so you know

[Kinger]

Refering to Co's like Nabor specialty Seeds where they went bankrupt and cGC hadn't done their due diligence to see that they were adequately bonded leaving farmers with next to no coverage and no one was ever punished.

Article on the subject.

https://www.manitobacooperator.ca/news-opinion/news/rcmp-investigate-naber-specialty-grains/

Sounds like the guy was a bit of a slimeball and previously short changed farmers and declared bankruptcy.

Looks like the CGC did try and gave them notice but they decided to just screw as many people over as possible and continue to take grain. CGC were watching and revoked the license when they saw they were still taking grain.

That is what I can see on the situation but my knowledge is limited if you wish to expand or clarify anything.

Never sell to a unbonded grain trader. The risk is the entire value of what you sold. Even smaller grain or specialty crop buyers should be watched very carefully and proper expectations set for payment. If you have to wait a few months for payment you probably shouldn't be selling grain to them is my opinion.

[sumdumguy]

It looks to me as though Imput Capital as the name implies is actually a lender and the securities commission should have been imposing their requirements on them. Really, are they a grain buyer?

[farmaholic]

It looks to me as though Imput Capital as the name implies is actually a lender and the securities commission should have been imposing their requirements on them. Really, are they a grain buyer?

SDG, More of a secured grain "broker".

[furrowtickler]

One thing to say to this farmer ...


Fairly straight forward....

[Guest]

One thing to say to this farmer ...


Fairly straight forward....

agreed , right on

[Farmhouse]

Input capital is officially getting sued!!!

Well boys!!!! It's out in the western producer!! The lawsuit

[furrowtickler]

This guy nailed it 👍👍...

[farmaholic]

A couple of things,

Unscrupulous

Lack of conscience.

The problem is no one is ****ing accountable in today's society anymore.

[sawfly1]

no sympathy here
you are exactly right , driving real farmers out.
maybe I am just not in the growth mode that bad .
that I need 20, 000 - 30,000 acres .
he played the game he lost . good .

better to see them go down , than the last time , when they were bailed out, like , the same type
folks in the 80s .

the big wheels


and yes tony merchant is probably the biggest slime ball of them all.
maybe of all time .

he fits right in in this story
a dirty old liberal or a conservative ( same thing )
Tony even gives lawyers a bad name
depends who pays more. that is what tony is.

lately Native causes,, been paying pretty good .
he must be branching out .

[bucket]

Isn't or wasn't Merchant's wife a senator appointed by Chretien?

The move to bigger farms started long ago and has accelerated in the past few.

Anyone 50 plus years old that have been farming a few years know how this works. In general the new BTO bids up the land they want then quietly takes a refinancing in an office one afternoon....Someone in the BTO takes the fall on the rating while the others keep on going ....what they actually pay is far less than they said they would....

And then they do it over again a generation later.....

Not all do it this way but its pretty common around here...

It doesn't hurt to have a guy working at FCC at the same time to pilfer through files to find their prey.