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Honored Advisor

Interesting conversation

I messed up this week and emptied my fuel barrel Wed late afternoon. Got a call this morning and looks like I need fuel to run the Excavator this weekend.

 

Anyway...called the fuel man's office and the office rat said no delieveries till next week BUT I'll let you talk to one of the "boys".

One short hr later the head Fred showed up and proceded to fill tanks. Said that this was better than fixing tires.

 

He said they take care of the paying customers. ???? was the look on my face.

 

Said a fairly high % of the high fliers in my area are on Certified check BEFORE the fuel is pumped. They are tired of 8+ months of no pay or personal checks that will not clear. Said they weren't really interested in anymore 6 figure unpaid fuel bill customers.

 

That was with $15 beans and $7+ corn... how is $12 something beans and $4 and small change corn going to keep the smoke coming out the stack? Did say some are still good as gold.

 

On a side note A&M Green Power and Barkers INC are merging = about 30% of Iowa will be one JD dealership... They have 9 million dollars worth of used equip to dispose of to get to the point of getting JD's blessing to finish the merger. Some decent buys on the "hot sheet".

 

Ex.  2001 2388 with lots of new parts little over 2000 hrs AND a 2006 30ft 1020 head $39,000 sold to the second guy to look at it. First guy waited to think about it overnight... too long.

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12 Replies
Highlighted
Advisor

Re: Interesting conversation

It probably happens more than you think. Easy enough to keep an unsecured on the hook. + no one would know, as thats almost certainly grounds for some suit
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Highlighted
Advisor

Re: Interesting conversation

What im saying is, you can't have your. Credit info disclosed unless you consent. I'm somewhat positive everytime you fill out loan documents you agree to a disclosure of creditworthiness thing
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Highlighted
Senior Advisor

Re: Interesting conversation

Not the same, but along the same grounds I think. Just found out that one of our local BTO's was fuming when he found out that the local coop was closing for business at 5:30 on Wednesday evening and would be closed all day Thursday in observance of Thanksgiving. He still has several hundred acres of milo to harvest and thought the coop would bow down to him. Probably left a sour taste in his mouth when something didn't go his way. I take my hat off to the coop manager, he told me he didn't care if you farm 50 acres or 10,000, bushels are bushels and everyone gets treated the same.

FWIW, I heard this BTO was a cash only customer as well.
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Highlighted
Advisor

Re: Interesting conversation

I think we are goin to see and hear of a lot of these situations.  Way to much money spent "saving taxes".  Already rumors, and I repeat rumors, of not being able to get financed to rent the multiple year high rent leases for next season. 

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Honored Advisor

Re: Interesting conversation

We are hardly anyone's biggest customer, but I strive on every occasion to be someone's best. We try hard not to place ourselves in a bind, but like you, sometimes we work our way into a corner.

Due to our efforts to be prompt with every bill payment, and not to ask for too many emergency interventions, most people will actually offer to bail us out on the rare time when we do. I consider these to be good examples of good business practice, and the Golden Rule.
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Highlighted
Honored Advisor

Re: Interesting conversation

This does not surprise me in the least...not any part of it. We haven't seen the tip of this iceberg yet, but is that violin music?
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Highlighted
Frequent Contributor

Re: Interesting conversation

Yeah, but MY local BTOs seem to have 3-4 suppliers just knocking themselves out begging for the business.  The BTOs will keep ONE of them paid up current, so as to maintain access, and then just pit the others against themselves for discounts, or credit extensions.

 

One of my biggest competitors hereabouts will be on Cert. Check Only status at my local Coop for MONTHS at a time, then come in someday and pay up and re-establish his charging privileges.  In the meantime, the management and sales folks are usually begging for his large volume of business.  Strange.    KenJ

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Honored Advisor

Re: Interesting conversation

Volume is one consideration, interest charges embedded in the account might be another. Bankers know that they make most of their easy money off of people who are just on the fringes, then ones who constantly pay overdraft fees, overlimit credit card charges.

One of the largest private taxppayers in our county never pays his real estate taxes until adter delinquencies are published in the newspaper. By then .he has owed the taxs plus ten percent penaltues for months. That is one that makes no sense st all to me.
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Senior Contributor

Re: Interesting conversation

Coops around here don't work that way....they cut prices to get the big sales and cash or credit make no difference. By going to private business [ not Coop ] I have been able to get thr Pat. Ref. up front and not 33 yrs later as  in the check I received yesterday from local Coop !!!!   John

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