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Diamond Foods, Inc. (DMND) Message Board

  • charles40 charles40 Aug 13, 2006 9:34 PM Flag

    news

    http://www.centralvalleybusinesstimes.com/stories/001/?ID=2635
    ------lenders won't like this one bit.
    as in construction and contracting the product
    belongs to the workman---until its paid for
    in full. lenders do not step in front of farmers
    in the bk line. for product that has not been
    paid for.

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    • I call myself dumbwalnutfarmer because I was stupid enough to sign a contract with Diamond Foods. After what they paid me for my 2005 crop, I will never sign a contract with them again. (If I would have sold my nuts to another processor, I could be in the neighborhood of $75,000 richer right now, and I would have all my money instead of waiting until December for the last %10.)

      So it pains me to have to defend Diamond Foods. If a grower wants to sell their nuts to Diamond Foods he/she is forced to sign away the lein rights mentioned in this article. Consequently, grower dept is subordinated to all other debt. With a Diamond contract, he who should be last is first, and he who should be first is last. This is another reason I will not sign another contract with Diamond Foods.

 
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