One thing we all should keep in mind is the percentage of family businesses that survive the second generation leadership is in the 30% range, and the number that survive the third generation is in the single digits. That is ALL businesses, not just farms. Lots of reasons for that, not merely the education level of the following generations. Whether you own furniture stores, car washes or milk cows, it's rare to last 50 years in business. Farms might actually do better than the average length, since most first-gen farmers work so much longer on average. Our local BTO is being run by there third gen now, younger than I am. I think they are doing well, but don't see the books, either. Different than Grampa did, for sure.
As for Boerson Farms here in Michigan, they are being sued for $150M in loans per DTN and others. They snapped up the whole Stamp Farms acreage at auction when the Stamp family got caught cooking the books, etc. Looks like some of their assets may shake loose again, not enough AMWAY money to keep going after all.
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Today's Featured Article - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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