Farmland values increased 10 percent nationwide in 2012, a real estate investment trade group says. "Farm prices are clearly on the rise," said Jeff Havsy, research director for the National Council of Real Estate Investment Fiduciaries.
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Idaho agriculture set a record for total net farm income in 2012 despite the fact that expenses also reached a record level.
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Turbulent financial markets have coincided with strong agricultural returns in recent years, spurring investors to buy more farmland, according to an environmental think tank. The Oakland Institute has released a report, "Betting on World Agriculture," that examines investor interest in farming.
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In this podcast, editors and reporters discuss the outcome of Snokist’s bankruptcy, a ballot effort to keep the Malheur County extension office funded, new trends in financing organic and small farms, and why federal agencies don’t know how many millions — or billions — they are losing to environmental lawsuits.
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In this podcast, editors and reporters highlight some of the stories in this week's edition. We'll talk about how changes in the lending climate and the Federal Reserve are affecting farming operations, big trends in local food, soaring revenue for Idaho growers, and growing overseas demand for American meat and dairy products. The Capital Press also congratulates Julie Fox and Al Drake of Eastern Washington on their sky-high engagement.
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The rash of bank failures over the past three years has included a number of agricultural lenders and inspired reforms in the Farm Credit System. Will these changes trickle down to farmers?
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Last week I made a post about some mysterious wrong numbers I've been getting. The callers who have been dialing me up were really trying to get Bank of America.
I may have finally figured out why callers who thought they were calling Bank of America got little ol' me instead. One of the callers provided a key clue. He told me the number he was trying to dial, which was an 800 number.
In doing a little research, it appears the number he was trying to call is for Bank of America mortgage in Tennessee. Which explains why so many people were asking me about whether they could refinance their loans. And perhaps this whole mortgage crisis may help explain why I've been getting more calls like that in recent months. If more people are calling, that would increase the odds of more people misdialing and getting me.
But just why the calls were coming through on my line was still perplexing. The 800 number people were calling did not match my direct line number, which has a 503 area code.
The other crucial clue in the puzzle came from our new editor, Joe Beach, and a job applicant for one of our California reporting positions for Capital Press.
Joe had given out a toll-free number he found on some note pads we had made up years ago. I'm not sure when they were made up. I've been here three and half years and they were here when I got here. The pads list an 800 number at the bottom. And that number is exactly the same as the 800 number the caller trying to reach Bank of America gave me, except for the last digit. But that number, our number, is not listed on any of our contemporary in-house phone lists. So, we had a toll-free line we (or most of us anyway) really didn't know about. And, for whatever reason, that line doesn't go through our switchboard. It rings right at my desk.
So, if you need to talk to me, let me know. I can give you a toll free number that will put you right through to my desk. But be careful. If you misdial you might get someone in Tennessee from Bank of America who may ask a bunch of questions about your mortgage.
Suddenly, I have the chorus from a classic Blondie song running through my head:
Call me, on the line
Call me, call me any anytime
Call me
I think I have the answer to the current financial crisis. It came to me through a ringing telephone.
Every once in a while the phone on my desk rings with an unusual ring that tells me it is coming in on a direct-dial line, not through the main switchboard. Of course, I get excited, because I think it's someone who wants to reach me specifically. Maybe one of those business cards I've handed out at some ag event is netting a phone call. So I answer the phone with enthusiasm.
"Capital Press newsroom, this is Gary."
There's silence on the other end of the line. So I repeat my greeting, but switch it up a bit, speaking a bit slower.
"Newsroom, this is Gary, may I help you?"
The answer back usually goes something like this:
"Hello, um, is this Bank of America?"
"No, this is the Capital Press newspaper," I say.
"Oh, sorry, I must have a wrong number," they say, followed by the inevitable click.
Obviously, my direct line number must be close to one of Bank of America's phone numbers. Sometimes those calls annoy me. But the one I got today gave me an idea.
Rather than disappoint those folks when they call, I'll just open up a bank branch right here in my office. Of course, due to limited space, staffing and time constraints (there is only me in my office, and I can only work so many hours a day, and I have a another job, so can't devote full time to banking) it will be limited services branch. We won't offer loans or withdrawals, but we will accept loan payments and deposits.
It could certainly help me get through the current economic crisis.
OK, so I won't really start a bank branch in my office. But a guy can daydream can't he? Just don't tell my bosses. I'm supposed to be working.
Disclaimer: The Gary West branch of Bunco America is not FDIC insured. Depositors assume all risks. Deposits are considered non-refundable gifts to the branch owner. Void where prohibited or if any statements herein might result in civil or criminal action against Bunco America or its stockholders or if it might result in the firing of the "bank's" president/CEO/CFO and sole proprietor.
