Talking Turkey with Butterball
Cover photo by: Jackie Kesselman
Cover photo by: Jackie Kesselman
On October 31, 2011, MF Global Holdings, Ltd. and certain affiliates (“MF Global”) declared the eighth largest bankruptcy in U.S. history, claiming assets of approximately $41 billion and debt of approximately $39.7 billion. Immediately thereafter, the Securities Investor Protection Corporation initiated a Securities Investor Protection Act (“SIPA”) liquidation proceeding against MF Global, Inc. The SIPA liquidation proceeding directly impacted over 150,000 customers of MF Global and sent...[Read More]
Nobody likes to lose money — least of all when it occurs in a system long considered safe. Regulators, exchanges, futures firms, and individual brokers have all taken pride and advertised that futures customer funds are segregated from any monies or positions of the clearing member holding customer funds. As CME Clearing’s Financial Safeguards document states: “The (segregation) regulations are designed to protect customers in the event of insolvency or financial instability of the...[Read More]
Known as the windy city, Chicago proved the perfect host for the National Grain and Feed Association’s (NGFA) 40th Annual Country Elevator Conference. The event’s theme, “Taming the Headwinds in 2012,” was thoroughly addressed by the program’s line up of accomplished, knowledgeable speakers, each exploring the issues critical to the grain and feed industries.
The conference, held Dec. 11-13, 2011, kicked off with the keynote address by the Honorable Sonny Perdue, former Governor of Georgia...[Read More]
Two Rivers Cooperative’s general manager, Tracy Gathman is quick to reference the wisdom passed on from agribusinessmen who came before him, specifically his father who spent more than 40 years working [at or for?] a cooperative, and, in this instance, dairyman and long-time cooperative supporter, Nelson Gardner: “Cooperatives have to remember what they started out for: the purpose of a farmer cooperative is to enhance members’ income—and they should keep that at the top of their...[Read More]
The “new norm” in the feed and grain industry is for managers to have multiple locations. Fifty years ago, it was not uncommon for each country elevator to be a separate business with a manager, grain buyer, accounting staff, warehousemen, etc. But just as the farmers being served have consolidated, so have the elevators and feed mills. Through mergers and acquisitions, many managers now oversee the daily operations of multiple locations at once. This has made businesses more efficient...[Read More]
Occasionally, I find myself in a conversation with a stranger or an acquaintance, cringing as I catch myself mindlessly talking about the weather. Dicussion of the weather, for me, is thoughtless go-to filler for awkward silences or a transition into friendly chit chat. This being said, sitting at my desk in Fort Atkinson, WI, today, writing my column on January 31, I am compelled to talk about the weather. Outside, the sun is shining and it is 50 degrees. Clarifying, as not to make...[Read More]
Ethanol proponents and commodity grower groups nationwide urged Congress to extend the ethanol and biodiesel incentives and tax credits throughout the months leading up to their Dec. 31, 2011 expiration, citing their end would threaten thousands of existing jobs, prevent the creation of new jobs and prohibit the United States from meeting the Renewable Fuels Standard (RFS) and acheive energy independence.
In spite of their efforts, both the 54 cents/gallon tax on imported ethanol and the...[Read More]
The American Feed Industry Association's 2012 International Feed Expo, organized in conjunction with the U.S. Poultry & Egg Association’s International Poultry Expo, concluded on Jan. 26 in Atlanta. More than 20,500 visitors from 100-plus different countries attended this year’s event supporting the feed, pet food and poultry industries.
The annual trade show and expo, the world's largest event of its kind, housed 895 exhibitors who displayed the latest in products and technologies, while...[Read More]