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 - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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