Well, first Matt Carstens would be PO’d at you for calling it a cooperative because he doesn’t like that term and has ordered it erased from everything and employees can’t wear the old clothes with that name on it. That should tell you a lot, that they are not focused on their core.Wonder what is really going on with Landus Cooperative and get your prospective.
They laid off 50-60 people that didn't fit with their business going forward (sub in HR buzzwords).Is there a quick refresher someone can give on what's happened, to someone like myself outside of the service area?
I gather they didn't open for business at any of their locations on Friday.
Laying off people affects the indemnity fund? Okay, I want to hear that connection.What I would like to know is aren’t they in the state’s indemnity fund? How can they do this and not affect it?
The indemnity fund is funded based on grain sold by farmers. When the fund is fully funded, there isn’t a fee (for lack of a better term) paid by farmers. There’s been a fee for the last couple of years now due to a couple of elevators in Eastern Iowa going under. Landus’s layoffs don’t affect the fluidity of the indemnity fund.What I would like to know is aren’t they in the state’s indemnity fund? How can they do this and not affect it?
Wouldn’t temporarily closing all your locations except one affect it?Laying off people affects the indemnity fund? Okay, I want to hear that connection.
But they also temporarily closed their locations except Ralston.The indemnity fund is funded based on grain sold by farmers. When the fund is fully funded, there isn’t a fee (for lack of a better term) paid by farmers. There’s been a fee for the last couple of years now due to a couple of elevators in Eastern Iowa going under. Landus’s layoffs don’t affect the fluidity of the indemnity fund.
For one day, I doubt it. You could still contract and get paid. You just couldn’t deliver grain.Wouldn’t temporarily closing all your locations except one affect it?
The transition to Cash and Carry has been happening everywhere for quite a while. But without feed services it's one of the few ways outside of grain storage that most customers will access the co-op. Are they losing money elsewhere? Given the time of year one wonders if they thought they had grain in inventory that they didn't.They laid off 50-60 people that didn't fit with their business going forward (sub in HR buzzwords).
They've bought out a couple independent chemical dealers this winter and "built" an FBN-like business (cash and carry chemicals) from their operation.
They're big, have a lot of grain storage, and lot of employee turnover. Good salesmen tend to move to more stable (supportive) companies.
Their prepays were usually due 1/15. So they may have had the salesmen lock stuff down and then bounce them.The transition to Cash and Carry has been happening everywhere for quite a while. But without feed services it's one of the few ways outside of grain storage that most customers will access the co-op. Are they losing money elsewhere? Given the time of year one wonders if they thought they had grain in inventory that they didn't.
I hope not. That would be a really bad look from the perspective of a customer. How could they expect any return business?Their prepays were usually due 1/15. So they may have had the salesmen lock stuff down and then bounce them.
Lol, that’s good. There are too many lazy ones and we all should do that to save money. I have never had someone unload me at an ethanol plant or feed mill that I’ve been to. I unloaded all my trucks this fall also, but I usually wave them off if they come out because I’ve had some bad ones nearly break stuff on the hoppers.Chuck Offenburger’s substack claimed that one of the elevators (Ralston?) farmers had to unload soybeans themselves this fall.
Thanks for the info.Lol, that’s good. There are too many lazy ones and we all should do that to save money. I have never had someone unload me at an ethanol plant or feed mill that I’ve been to. I unloaded all my trucks this fall also, but I usually wave them off if they come out because I’ve had some bad ones nearly break stuff on the hoppers.