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Re: Partial List On Who NAFA Owes Money To [Re: pcr2] #6674580
11/24/19 07:33 PM
11/24/19 07:33 PM
Joined: Feb 2010
Posts: 8,455
Henderson, N.Y. Jefferson Co.
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walleyed Online happy
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Henderson, N.Y. Jefferson Co.
Originally Posted by pcr2
whats wrong at NAFA?



BOHICA !!!!!! laugh

w


"Provisional/Interim" member of NYS Trappers Association
Jefferson Co. Fur Harvesters

I Support Non-Resident Trapping



Re: Partial List On Who NAFA Owes Money To [Re: Chuckles84] #6674586
11/24/19 07:38 PM
11/24/19 07:38 PM
Joined: Feb 2010
Posts: 8,455
Henderson, N.Y. Jefferson Co.
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walleyed Online happy
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Originally Posted by Chuckles84
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



Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674603
11/24/19 07:53 PM
11/24/19 07:53 PM
Joined: Sep 2010
Posts: 2,213
NE
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Marty B Offline
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NE
bohica was tiresome and annoying 10yrs ago.

Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674608
11/24/19 07:56 PM
11/24/19 07:56 PM
Joined: Sep 2012
Posts: 7,236
West Michigan
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Getting There Offline
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West Michigan
Man there is a lot of money owed out there.


To Old
U.S. Army 60-63 SGT.
Re: Partial List On Who NAFA Owes Money To [Re: walleyed] #6674642
11/24/19 08:24 PM
11/24/19 08:24 PM
Joined: Nov 2014
Posts: 2,152
S. Illinois
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Chuckles84 Offline
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S. Illinois
Originally Posted by walleyed
Originally Posted by Chuckles84
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.
Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674645
11/24/19 08:28 PM
11/24/19 08:28 PM
Joined: Jan 2007
Posts: 16,681
north Idaho
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wissmiss Offline
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north Idaho
At. Least you are only a dollar short. Could be a lot more!! smile


www.usedtraps.com

Please check out my updated inventory of Native American books.

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
Joined: Feb 2010
Posts: 8,455
Henderson, N.Y. Jefferson Co.
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walleyed Online happy
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Joined: Feb 2010
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Henderson, N.Y. Jefferson Co.
Originally Posted by Marty B
bohica was tiresome and annoying 10yrs ago.



oh well,

story of my life, too. laugh


"Provisional/Interim" member of NYS Trappers Association
Jefferson Co. Fur Harvesters

I Support Non-Resident Trapping



Re: Partial List On Who NAFA Owes Money To [Re: wissmiss] #6674725
11/24/19 09:29 PM
11/24/19 09:29 PM
Joined: Nov 2014
Posts: 2,152
S. Illinois
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Chuckles84 Offline
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S. Illinois
Originally Posted by wissmiss
At. Least you are only a dollar short. Could be a lot more!! smile

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.
Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674738
11/24/19 09:47 PM
11/24/19 09:47 PM
Joined: Feb 2009
Posts: 828
Hill City,Mn.
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Hill City,Mn.
Should be interesting to see what people have to say about Groenwald in a couple years.


Keep your boots dry
Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674742
11/24/19 09:57 PM
11/24/19 09:57 PM
Joined: Feb 2009
Posts: 3,897
minnesota
M
mnsota Offline
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minnesota
Should be interesting to see what people have to say about Groenwald in a couple years.

I would reference the Beav,...but he gone under! grin

Re: Partial List On Who NAFA Owes Money To [Re: Marty B] #6674747
11/24/19 10:11 PM
11/24/19 10:11 PM
Joined: Oct 2018
Posts: 5,570
Dunbar, Wisconsin
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Pike River Offline
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Dunbar, Wisconsin
Originally Posted by Marty B
AL Jazeera is owed 73K iirc


That is the weirdest one on the list.

crazy

Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674758
11/24/19 10:21 PM
11/24/19 10:21 PM
Joined: Jun 2008
Posts: 3,716
SW Pa
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wr otis Offline
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SW Pa
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.
Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674760
11/24/19 10:22 PM
11/24/19 10:22 PM
Joined: Aug 2011
Posts: 45,263
james bay frontierOnt.
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Boco Online content
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james bay frontierOnt.
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.
Re: Partial List On Who NAFA Owes Money To [Re: Boco] #6674767
11/24/19 10:28 PM
11/24/19 10:28 PM
Joined: Jan 2017
Posts: 10,057
Marion Kansas
Y
Yes sir Online content
"Callie's little brother"
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Originally Posted by Boco
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?

Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674771
11/24/19 10:33 PM
11/24/19 10:33 PM
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Posts: 3,716
SW Pa
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wr otis Offline
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SW Pa
If they were taking in 25mill a year in commission, then how did they manage to spend that money out multiple years in a row? And then end up 50mill in the hole? I don't think that math is right.

Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674773
11/24/19 10:35 PM
11/24/19 10:35 PM
Joined: Aug 2011
Posts: 45,263
james bay frontierOnt.
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Boco Online content
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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.
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
Joined: Dec 2010
Posts: 11,135
Armpit, ak
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Dirt Offline
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Armpit, ak
Originally Posted by Yes sir
Originally Posted by Boco
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?
Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674789
11/24/19 10:47 PM
11/24/19 10:47 PM
Joined: Jan 2008
Posts: 9,153
Alaska and Washington State
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waggler Online content
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Alaska and Washington State
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.

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Re: Partial List On Who NAFA Owes Money To [Re: Dirt] #6674793
11/24/19 10:51 PM
11/24/19 10:51 PM
Joined: Jan 2017
Posts: 10,057
Marion Kansas
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Yes sir Online content
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We don't know the net? Maybe there was none after Herman took his salary?[/quote]


I should rephrase it, what I was meaning was net commissions.

Re: Partial List On Who NAFA Owes Money To [Re: YOTEBOY] #6674797
11/24/19 11:02 PM
11/24/19 11:02 PM
Joined: Aug 2011
Posts: 45,263
james bay frontierOnt.
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Boco Online content
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james bay frontierOnt.
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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