11:45:01pm, Thursday, April 18, 2024
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Borsen Farms.
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Pro Stock
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Are Borsem Farms Keeping there prostocks
It appears they may get there debt restructured and able to keep farming. Hopefully things work out. Farming can be tough. |
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Re: Borsen Farms.
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"farming can be tough?" Yeah, when you're spending a couple hundred thousand a year on pro stocks. And getting millions in government subsidies. |
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Re: Borsen Farms.
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Plus
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Plus paying $50-100 per acre more cash rent than anyone else.. |
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Re: Borsen Farms.
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Registered: 07/06/2017 Posts: 369 |
And these guys will come out of this smelling like a rose considering the circumstances. If I owed $140,000, they would be lining my junk up & auctioning it off, much less $143 million. I've been told that all bankruptcies do is make you fearless. |
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Re: Borsen Farms.
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Registered: 07/09/2008 Posts: 270 |
You guys need to get off this. Maybe if you have it all figured out you should buy a farm and start farming! |
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Re: Borsen Farms.
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Most people on here are farmers. We're just not millions in debt. If you want to feel sorry for these people, go right ahead. I hope the bankruptcy court nails them to the wall. |
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Re: Borsen Farms.
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Boring: I care. But you're right, we need more posts about "where is there a pull tonight?" I find it news worthy and feel like talking about it. You could just ignore the posts, but you are super important and have to respond as the voice of "most people." Practice what you preach and move your own self along. |
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Re: Borsen Farms.
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Questions
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Why is any of this anybody's business but borsens? |
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Re: Borsen Farms.
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I'm so sick of these big grain farmers getting the wave on by every time the going gets tough... but their more than happy to brag about 7 dollar corn on their side shield of their pro stock they cant afford or on the back of their full stretch glider pete...#welcome2therealworld..don't bite off more than u can chew... |
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Re: Borsen Farms.
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spike
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because guys like them make it almost impossible for the rest of us to survive, are debts are not forgiven. |
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Re: Borsen Farms.
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It's our business because this is America. If the Boerson family doesn't want people talking about them, then they should quit getting sued for 145 million dollars. They should have to pay back every dime they received in government subsidies too. |
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Re: Borsen Farms.
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Over 2.5 million in government subsidies as of 2014. I could probably afford to pull pro stocks too. Freaking joke. |
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Re: Borsen Farms.
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bucky
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Yea and remember Stamp the guy Borsen bought out. Of all things for Stamp to be worried about he hid his puller. His wife ended up in jail for hiding some funds etc. I think when these guys are farming on our dime it is our business. I bought a combine at a bankruptcy sale years ago. When I went in to pay for it the guy's lawyer asked him why he let it go. He said don't worry if I want another one I'll get it. These people have no conscience when it comes to owing money and even have the gall to go pulling when the crap hits the fan. |
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Re: Borsen Farms.
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Registered: 08/07/2008 Posts: 86 |
Grubby,Do you know how government subsidies work,or why they are in place? |
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Re: Borsen Farms.
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To answer your question Prostock, in my opinion: Right now, I think they will not be sold. I have read that the farm(s) were placed in receivership and that only the recievership can start chapter 11, not the owners. I'm sure CHS knows about the pulling tractors (assets ??). It appears to me that CHS is fronting the money to the recivership so the crops can get harvested. Once the harvest is done, who knows whats going to happen. They, along with others, want their money. One of my issues is that the landowners are going to probably get nothing because they are 'unsecured'. And, being that the landowners have been being paid a lot more in rent money, they will expect other farmers to pay that sort of price. This is where my info came from
[www.grbj.com] [www.dtnpf.com] To the Morgan's....I know you said on another post that this is an uncomfortable topic but I have a feeling that after the harvest and the pulling season is over, this may be a hot topic on here. Thanks for putting up with it |
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Re: Borsen Farms.
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123
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THIS HAPPENED WAY TOO MUCH BACK IN THE DAY,80'S,where the broke farmers put all the debt on the poor just purchased land, and the home property, was protected and kept with rearranging and bankruptcy issues,then got to rent the land back at half rate.People that have ethics,pride(what the hell is that anymore) and pay the debts with wise choices are the ones that pay more interest and suffer because they learned to go without some fancy crap. |
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Re: Borsen Farms.
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Too Bad
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The bottom line is they are poor operators, or they wouldn't be in this position. Blame commodity prices all you want, but you need to be prepared for any possible scenario. But they will get bailed out to some degree. And sorry, it is other peoples business, they owe money to a "farmer owned" cooperative lending institution, and it is and will be affecting thousands of farmers, in dividends if nothing else. BTO's come and go, it just takes longer for some to go, unfortunately. |
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Re: Borsen Farms.
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Registered: 02/08/2014 Posts: 406 |
Yep. I remember going to pulls when corn was $7. and guys were all sucked in. Ordering new tractors, combines and renting more land. I always said what goes up always comes down. Some where older farmers too that should know better as they have seen the ups and downs. I wish them luck unless they end up screwing good people out of their money as bankruptcy always does. Those banks that lend money that easily should be out too. |
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Re: Borsen Farms.
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story
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I had an argument with a guy right here on this board a few years ago about corn prices. He said they were here to stay because the govt was buying the corn for ethanol. When I told him that only increased demand X amount, supply was still going to pass it up as soon as the droughts was over he told me I was wrong. I knew then he would he having an auction in the not too distant future. |
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Re: Borsen Farms.
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Registered: 04/03/2016 Posts: 772 |
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Re: Borsen Farms.
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mnm
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this type problem has been ongoing in our country since bankruptcy was made a minor issue,walk away from debt,keep most of what we stole. consequences need to be in place,no money,no buyee,but not the case in America any more.Everyone seems to feel entitled to any thing and everything they want with out money.Nothing new,happens every day all over our failing country. |
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Re: Borsen Farms.
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Registered: 04/03/2016 Posts: 772 |
Where is the thumbs up or like button for your post? I can't live that way. Never expected anyone to take care of ME. My mistakes are just that. Mine and MINE only. Guess that's why I am a Supertiquer. |
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Re: Borsen Farms.
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lewis
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Thumbs up supertiquer what little playing I do is with my own money not everybody elses . Bankruptcy is to easy all assets should be cleaned out and sold to pay off the debts and a payment plan set up there after just like the guys who struggle to pay there child support every month |
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Re: Borsen Farms.
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Registered: 04/03/2016 Posts: 772 |
AMEN lewis! |
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Re: Borsen Farms.
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Registered: 03/26/2008 Posts: 494 |
Here is an update: [www.dtnpf.com] |
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Re: Borsen Farms.
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Interesting. I didn't think Zeeland Farm Services was that big or why a company would take on that much debt being that farming is not to good right now. Wonder what the deal is there....? It looks like its they are taking care of the CHS portion. Wonder whats going to happen with the outstanding from Deere, CNH, and Monsanto |
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Re: Borsen Farms.
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Registered: 04/03/2016 Posts: 772 |
I saw this on agtalk a couple days ago and wondered the same thing. |
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Re: Borsen Farms.
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Similar
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I have seen it in our customer base before. It would appear to me that the larger companies are "partnering" with the party in question in order to get paid. In our area, we had a large bank do the same thing. They party in question was in deep and in order to recoup their investment they essentially partnered with them so that they could get the crop out. This way the bank was privy to all transactions and cash flow. They got paid first when the crop came out and essentially everyone else was left with what was left and had to fight for the scraps. |
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Re: Borsen Farms.
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Registered: 04/06/2008 Posts: 974 |
If that is true and like you said "it would appear" then I can't see John Deere, CNH, or Monsanto enjoying leftover scraps...... |
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Re: Borsen Farms.
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Dirt Monkey
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The BIG question? Will they be in Louisville this year with the pulling Tractors?? Or will the committee tell them to stay home cause of what's going on??? |
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Re: Borsen Farms.
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Interesting on the 'partner' aspect.....which brings up more questions on how they operate in the future. Almost sounds like a receivership. I guess we'll see. As for the NFMS, I guess I don't know the details on how someone is invited. Wasn't Mike Stamp invited one year and was a no show? But in his case, I think the bank was looking for his tractor because of his bankruptcy. Whatever happened to Stamp's tractor? |
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Re: Borsen Farms.
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Registered: 08/28/2014 Posts: 178 |
Ferris family owns Stamps old tractor which used to be Salenbien's old tractor. Run's very well on the GN circuit. |
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Re: Borsen Farms.
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Registered: 04/06/2008 Posts: 974 |
Getting into Louisville is all about politics period |
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Re: Borsen Farms.
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Registered: 07/09/2008 Posts: 270 |
If they do get invited good for them. It's their business and no one elses. I don't think any of you have a say on that. |
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Re: Borsen Farms.
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Fref
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If you do business with CHS it is your business because it's costing us money. We will not be receiving a dividend check because of this matter and I'm sure inputs will cost more and basis will be worse. |
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Re: Borsen Farms.
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Big Red One
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Is it still Ghost Rider? On another note, I like the old school look of your tractor. I took a picture of it at BG and sent it a friend that dead load pulls with an Oliver |
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Re: Borsen Farms.
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Registered: 08/28/2014 Posts: 178 |
No its not called Ghost Rider anymore it's called Absolutely Nuts. And thanks for appriciating and taking photos of are tractor. |
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Re: Borsen Farms.
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The Big Deal
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So where can I buy some of that Outlaw Pulling stock I read about on here a while back? |
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Re: Borsen Farms.
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YNot
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[www.michfb.com]
Swirling the drain I would say. |
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Re: Borsen Farms.
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Wow. When it rains, it pours....or in their case, a hurricane is coming through |
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Re: Borsen Farms.
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I 'heard' that there are 7-8 new JD combines sitting over by Marshall. 8 machines harvesting ~80,000 acres. That might take a little while |
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Re: Borsen Farms.
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Dirt Monkey
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They did wrong... now pay the piper. If that means sell the puling tractors, or there show cattle, or whatever so be it. Why do people think some people are above the law, they are not. |
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Re: Borsen Farms.
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Super Stock
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I heard the tractors we're taken about a month ago. I'd say
when the smoke clears they will be sold |
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Re: Borsen Farms.
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BDD
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How is crops going up there? Yields good? They getting everything combined? |
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Re: Borsen Farms.
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Not sure what they have in the ground yet. Its been pretty wet lately and a lot of bean fields have not been that great yield wise. Not sure if this helps or not:
[www.hollandsentinel.com] I guess I don't understand how they got "new equipment the farm acquired after the lawsuit was settled." We'll see if they are still pulling come next season |
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Re: Borsen Farms.
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Small timer
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Just like Boersen replaced Stamp there will be some one new replace them. Maybe some of the landowners that got rid of their tenants and replaced them with Boersen get stuck not getting paid. |
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Re: Borsen Farms.
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Pro Stock
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Was the deal with the pulling tractors. I heard of some guys in central Missouri of buying a
Deere Big pro. Wondered if it was one of Boersens. |
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Re: Borsen Farms.
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Was just wondering, I saw a news clip today that another firm of investors paid off CHS and the other creditors recently. It was reported on a local station along with a video of a grain bin rescue. Did anyone else see that? |
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Re: Borsen Farms.
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LT capital was the new lender. Report made it sound like it was a subsiderary of Bordon farms. Can someone explain this so it doesn't sound like they are kiting money from entity to entity. |
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Re: Borsen Farms.
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Registered: 07/06/2017 Posts: 369 |
Sure was a wad of green stuff on the JDF repo list the last few months. All was in Michigan & was listed to the same owners |
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Re: Borsen Farms.
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Pro Stock.
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Has anyone heard if there done with harvest? What happened to the pulling tractors,
will be curious to see if there on the NFMS list. |
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