Do you really think that the land is not tied up in the loans on chicken houses? And their homes and everything else they own. Do you really think you can just take the houses down, stop making payments and everything would be fine. You don't have a frigging clue.........<quoted text>
I have empathy for the big time, debtor chicken farmers on in the sense that they were so blinded by the possibility of future big profits. Grandpa taught us to never count your chickens before the eggs hatch. Would seem to me that it's time for those greedy, chicken farmers would realize their folly and make some cut backs in the way they do business and how they spend money, stop borrowing and release themselves from the slavery that have gotten themselves into. Take down the chicken houses and other un needed equipment, tell PP or the lenders to come get the dang things, and start from scratch, and yes, allow their credit score to suffer if they must. Save the land and work it for something else or even free range birds.
Last December, Pilgrim's Pride Went Bankrupt. The repercussions on chicken farmers are still being felt.
Join the discussion below, or Read more at Mish's Global Economic Trend Analysis.
#330 Aug 18, 2011
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