Re: Partial List On Who NAFA Owes Money To
[Re: Chuckles84]
#6674586
11/24/19 07:38 PM
11/24/19 07:38 PM
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Joined: Feb 2010
Posts: 8,455 Henderson, N.Y. Jefferson Co.
walleyed
trapper
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trapper
Joined: Feb 2010
Posts: 8,455
Henderson, N.Y. Jefferson Co.
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I thought up a new acronym Lol
No Auction Funds Available You're too late !! that was old news word play a month ago.
"Provisional/Interim" member of NYS Trappers Association Jefferson Co. Fur Harvesters
I Support Non-Resident Trapping
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Re: Partial List On Who NAFA Owes Money To
[Re: walleyed]
#6674642
11/24/19 08:24 PM
11/24/19 08:24 PM
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Joined: Nov 2014
Posts: 2,152 S. Illinois
Chuckles84
trapper
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trapper
Joined: Nov 2014
Posts: 2,152
S. Illinois
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I thought up a new acronym Lol
No Auction Funds Available You're too late !! that was old news word play a month ago. Story of my life always a day late and a dollar short
Your entitled to oxygen. Everything else is earned.
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Re: Partial List On Who NAFA Owes Money To
[Re: Marty B]
#6674650
11/24/19 08:33 PM
11/24/19 08:33 PM
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Joined: Feb 2010
Posts: 8,455 Henderson, N.Y. Jefferson Co.
walleyed
trapper
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trapper
Joined: Feb 2010
Posts: 8,455
Henderson, N.Y. Jefferson Co.
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bohica was tiresome and annoying 10yrs ago. oh well, story of my life, too.
"Provisional/Interim" member of NYS Trappers Association Jefferson Co. Fur Harvesters
I Support Non-Resident Trapping
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Re: Partial List On Who NAFA Owes Money To
[Re: wissmiss]
#6674725
11/24/19 09:29 PM
11/24/19 09:29 PM
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Joined: Nov 2014
Posts: 2,152 S. Illinois
Chuckles84
trapper
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trapper
Joined: Nov 2014
Posts: 2,152
S. Illinois
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At. Least you are only a dollar short. Could be a lot more!! Fortunately I sell to Groeny so no rubber checks and stolen fur for me or it would have been more than a dollar ahort. LoL
Your entitled to oxygen. Everything else is earned.
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Re: Partial List On Who NAFA Owes Money To
[Re: YOTEBOY]
#6674738
11/24/19 09:47 PM
11/24/19 09:47 PM
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Joined: Feb 2009
Posts: 828 Hill City,Mn.
Rally
trapper
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trapper
Joined: Feb 2009
Posts: 828
Hill City,Mn.
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Should be interesting to see what people have to say about Groenwald in a couple years.
Keep your boots dry
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Re: Partial List On Who NAFA Owes Money To
[Re: YOTEBOY]
#6674758
11/24/19 10:21 PM
11/24/19 10:21 PM
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Joined: Jun 2008
Posts: 3,716 SW Pa
wr otis
trapper
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trapper
Joined: Jun 2008
Posts: 3,716
SW Pa
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what are the circumstances of nafa owing these businesses? They sold their fur and didn't pay? And may yet still receive funds for those sales?
My initial thoughts were they put out big production loans, and then couldn't collect. But the way the list reads they owe so many people. Where is either, the money they thought would be paid in, and or the actual furs that represent the money they owe people.
Were they floating loans to favorite producers, or running some sort of buy back scheme on speculations?
Al Jazeera's might be TV ads geared towards wealthy oil people.
Last edited by wr otis; 11/24/19 10:23 PM.
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Re: Partial List On Who NAFA Owes Money To
[Re: YOTEBOY]
#6674760
11/24/19 10:22 PM
11/24/19 10:22 PM
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Joined: Aug 2011
Posts: 45,263 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,263
james bay frontierOnt.
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They basically owed double of what they make in a year,and couldn't get credit no more. It would be like an individual making 50g per year owing 100g to the bank and the bank called in the debt.
Forget that fear of gravity-get a little savagery in your life.
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Re: Partial List On Who NAFA Owes Money To
[Re: Boco]
#6674767
11/24/19 10:28 PM
11/24/19 10:28 PM
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Joined: Jan 2017
Posts: 10,057 Marion Kansas
Yes sir
"Callie's little brother"
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"Callie's little brother"
Joined: Jan 2017
Posts: 10,057
Marion Kansas
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They basically owed double of what they make in a year,and couldn't get credit no more. It would be like an individual making 50g per year owing 100g to the bank and the bank called in the debt. Twice what there gross sales are or twice what there net profits are?
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Re: Partial List On Who NAFA Owes Money To
[Re: YOTEBOY]
#6674773
11/24/19 10:35 PM
11/24/19 10:35 PM
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Joined: Aug 2011
Posts: 45,263 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,263
james bay frontierOnt.
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Neither.Their sales according to deloitte were 100 mil per year.They took in around 25% of that so 25mil.Out of that they paid their obligations.Wages,utilities etc.What was left after that would have been their profit.But as you know the last time they cut profit sharing cheques to the producers was several years ago,so they were just covering their bills the last few years,and likely would have continued to do so if the bank hadn't pulled the plug. FHA is weathering the storm because their profit sharing is in RPC's which trappers have left invested with the company. If all the trappers called in all their RPC's FHA may have had difficulties as well in this market scenario.
Last edited by Boco; 11/24/19 10:41 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Partial List On Who NAFA Owes Money To
[Re: Yes sir]
#6674777
11/24/19 10:38 PM
11/24/19 10:38 PM
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Joined: Dec 2010
Posts: 11,135 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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They basically owed double of what they make in a year,and couldn't get credit no more. It would be like an individual making 50g per year owing 100g to the bank and the bank called in the debt. Twice what there gross sales are or twice what there net profits are? We don't know the net? Maybe there was none after Herman took his salary?
Who is John Galt?
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Re: Partial List On Who NAFA Owes Money To
[Re: YOTEBOY]
#6674789
11/24/19 10:47 PM
11/24/19 10:47 PM
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Joined: Jan 2008
Posts: 9,153 Alaska and Washington State
waggler
trapper
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trapper
Joined: Jan 2008
Posts: 9,153
Alaska and Washington State
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I'm guessing they were also trying to make money by acting as a bank. The problem with that (if it is the case) is that instead of your loan portfolio being diversified over all sorts of different industries, and all your eggs being in one basket (mink ranching), then all it take is one hiccup to bring down the entire house. Just a guess.
Last edited by waggler; 11/24/19 10:49 PM.
"My life is better than your vacation"
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Re: Partial List On Who NAFA Owes Money To
[Re: YOTEBOY]
#6674797
11/24/19 11:02 PM
11/24/19 11:02 PM
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Joined: Aug 2011
Posts: 45,263 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,263
james bay frontierOnt.
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Nafa took in around 25% of the hammer price of every piece of fur that went thru their hands,Maybe even more than that if you count the same pelts bought and sold by speculators,pelts that never left the building but were bought and resold perhaps several times.This was from commissions,and other charges to both sellers and buyers. FHA is similar.
Last edited by Boco; 11/24/19 11:05 PM.
Forget that fear of gravity-get a little savagery in your life.
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