Finance

Too Many Cooks

Toques, the starched, stovepipe hats worn by chefs, are crowned with 100 tiny pleats that, explain the French, represent the 100 ways to prepare an egg every cook must master before earning the title “Chef” and a much-prized toque.
Recent action by President Donald J. Trump and his administration suggest there must also be 100 ways […]

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Meat and Money Always Cook Up Corruption

Political scandals in Brazil, like much in the fast-growing, global food giant, are so bold and so far out of bounds that calling them “outrageous” slanders their perpetrators.
Moreover, the scandals occur so frequently that it seems Brazil requires political chicanery and bribery to even function.
The latest evidence involves JBS SA, the Brazilian meatpacker that dominates […]

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Trump’s Butcher Shop

Donald Trump may want to “Make America Great Again” but his proposed 2018 budget contains no plans to make rural America or the nation’s less fortunate great again.
In fact, according to the Trump Administration’s budget blueprint, American farmers, ranchers, and down-on-their-luck citizens must achieve greatness with trillions less in government support so it and Congress […]

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The Artlessness of the Deal

What Trump Administration appointees lack in reticence they make up for in certitude. Take Secretary of Agriculture Sonny Perdue.
Just two weeks after being shown his stately office at the U.S. Department of Agriculture’s (USDA) South Building, Perdue announced a major makeover of it: he invoked a 2014 Farm Bill directive to create a new USDA […]

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Pass the Biscuits and the Buck

Leave it to the language experts at England’s Oxford Dictionaries to come up with a two-word “Word of the Year” for 2016.
That (those) word(s) is (are) “post-truth.”
Post-truth, explain the Oxford experts, is “defined as ‘relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and […]

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Sonny’s Big Adventure

Those Wisconsin dairy cows at the center of another trade kettle now boiling between the United States and Canada, a friend suggests, aren’t really black-and-white Holsteins.
They’re tiny, yellow canaries, he opines, and their tweets—not President Donald J. Trump’s—are a warning that America’s reign as the world’s ag export superpower is fading and U.S. farmers and […]

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The Numbers Aren’t Adding Up

According to numbers compiled and published by Agri-Pulse, the Washington, D.C.-based ag news service, the top bosses at ag-centered commodity groups and federally-chartered checkoff agencies had far better recent years than the farmers and ranchers they claim to serve.
For example, Agri-Pulse’s annual compensation report published last September noted that Steve Censky, chief executive officer of […]

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Big Salaries, Big Loans, Big Questions

If you want to get the attention of the $240-billion Farm Credit System (FCS), just mention the $725-million loan CoBank, a System lender, made to Verizon in 2013 to help finance Verizon’s $130-billion buyout of Vodafone, a European telecommunications giant.
The far-from-the-farm loan incensed commercial bankers, the System’s largest competitors, who howled to Congress about CoBank’s […]

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As Ag Swoons, Farm Credit System Booms

On Feb. 28, the agriculture subcommittee of the U.S. House of Representatives Appropriations Committee held a “Farm Credit Administration [FCA] Oversight Hearing.”
Remarkably, it was the first public questioning of FCA leaders—and how they regulate the nation’s biggest agricultural lender, the $240-billion Farm Credit System (FCS)—by the subcommittee in 19 years.
In the intervening, unchecked decades, System […]

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More Money, Less Accountability

On Jan. 5, Harvest Public Media reported that “a federal investigation has been launched into the alleged embezzlement of $2.6 million by an employee” of the Oklahoma Beef Council.
According to the report, the state’s beef checkoff-collecting group had been unaware that “its former accounting and compliance manager” allegedly “started forging checks in the group’s name” […]

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