More in Issues

  • Jun 24, 2014
    blog

    Complacency: The Silent Killer 2

    Complacency can be the silent business killer. Peer analysis and benchmarking can be the catalysts that motivate managers to focus on aspects of the business that are done well, and then step outside with the advisory teams and other leading businesses to break into new territory, taking the business to a new level....More
  • Jun 17, 2014
    blog

    Crucial farm transition management conversations: In-laws joining farm operation 1

    How can a son-in-law or daughter-in-law bring up the conversation about joining the farm operation or possible ownership? Often the younger generation family members are intimidated particularly if they have provided labor for the business for quite a while. What will frequently occur is that time will slip by and months become years without these important questions being asked and answered, which often ends up being disastrous to all generations involved....More
  • Jun 16, 2014
    blog

    Dairy industry facts 1

    For decades in Minnesota, June has been known as Dairy Month. Here are some interesting facts and figures about the Dairy industry....More
  • Jun 10, 2014
    blog

    Working capital: The shock absorber 2

    While 33% working capital to revenue is appropriate for cash grain and market livestock businesses because of significant inventory, is this level of working capital too aggressive for dairies, since milk inventory is picked up every day or every other day?...More
  • Jun 3, 2014
    blog

    China to overtake the U.S. economy 2

    China is a rising economic power and with that status it will become a bigger partner in world economic trade. It will require China to step up to the plate in environmental and social issues and they will be criticized by neighboring countries that are sometimes threatened, particularly in that region of the world....More
  • May 27, 2014
    blog

    Economic indicators and confusing signals

    The U.S. economy is showing mixed signals. The lead economic index (LEI) which foretells the future of the economy has been increasing in recent months, most recently up 0.4%, which is bullish for the economy. Sixty percent of the factors that make up the LEI are exhibiting positive signs....More
  • May 20, 2014
    blog

    Lessons learned from the student athlete 2

    The hour and a half flight to Roanoke seemed like ten minutes as the discussion flowed from investment strategies, to the state of the U.S. and global economy, to federal debt. To my delight, I discovered the head coach actually teaches political science at Whitewater and was interested in my thoughts not only on economics, but also geopolitical trends, with his students actually listening. In discussions with key players, they indicated that the coach not only taught them basketball, but much about life as well....More
  • May 13, 2014
    blog

    Q&A: Introducing new family members to the farming operation 2

    While I was traveling in Canada conducting seminars, my standard operating procedure was to take only written questions from the participants. This technique works like a charm, since most questions are well thought out. The following question centered on transition management....More
  • May 8, 2014
    Commentary

    Farmland a great documentary 3

    Last night I was fortunate to attend a private screening in Minneapolis of the new consumer-focused documentary, Farmland....More
  • May 6, 2014
    blog

    2012 Ag Census data provide an agriculture snapshot 1

    The 2012 Ag Census data, showed a decrease in total farm numbers, with a lot of variation relative to farm size and scope, as well as increases in the number of minority farm operators, large increases in total farm sales, and many other interesting trends....More
  • May 6, 2014
    blog

    Ag lender’s role in agriculture business succession: Part 2 1

    The lender can play a role as a quarterback, keeping the ball rolling by directing stakeholders, owners and managers, as well as diverting the business toward qualified professionals to develop a customized solution for each individual business. The lender can also act as a third-party facilitator to keep the process moving and keep various family, partner and stakeholder egos out of the personal “swamp issues," says David Kohl....More
  • Apr 29, 2014
    blog

    Ag lender’s role in agriculture business succession: Part 1 2

    Approximately 85% of agricultural businesses have no estate or transition plan in place. One of the most helpful resources a producer can draw upon in this challenging task is their agricultural lender....More
  • Apr 22, 2014
    blog

    Thoughts on farm transition management 1

    At a recent seminar, panelists concluded that there is no cookie-cutter template for farm transition, and that each plan must be customized to meet the needs of the generations, partners and stakeholders involved. Family business meetings need to be held off-site with agendas and minutes, creating a paper trail as a means of communication for all parties....More
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