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Coffee Shop
Bad Deal
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<blockquote data-quote="john250" data-source="post: 796904" data-attributes="member: 4406"><p>Finding "hard" information on this situation is like...actually I know more about the US State Dept and military than I know about this.</p><p>I didn't get burned--but I was planning to sell the next week when this story broke on a Friday. My thanks to whoever posted that link here on CT. </p><p>The market tanked for a week, since Eastern bought more than half the feeders out of this part of the country, but I still have the calves so I'm OK. </p><p>It doesn't seem like a court appointed receiver is going to be able to do a very good job of preserving the assets in this case. Cattle are a unique asset, since they need to be fed and watered. When they are "finished" they need to go to the packer. It isn't possible to just put a fence around them and hold them until the auditors and the courts decide who gets what. </p><p>Someone needs to talk to the press, on the record.</p></blockquote><p></p>
[QUOTE="john250, post: 796904, member: 4406"] Finding "hard" information on this situation is like...actually I know more about the US State Dept and military than I know about this. I didn't get burned--but I was planning to sell the next week when this story broke on a Friday. My thanks to whoever posted that link here on CT. The market tanked for a week, since Eastern bought more than half the feeders out of this part of the country, but I still have the calves so I'm OK. It doesn't seem like a court appointed receiver is going to be able to do a very good job of preserving the assets in this case. Cattle are a unique asset, since they need to be fed and watered. When they are "finished" they need to go to the packer. It isn't possible to just put a fence around them and hold them until the auditors and the courts decide who gets what. Someone needs to talk to the press, on the record. [/QUOTE]
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