I could run new equipment but choose not to based on the fact that it is not economically a wise decision. Big operators can spread their costs over alot of acres. Probably anything works if they are good operators and marketers. But, I see too many small to medium size operators operating like they are "big operators". Sure, maybe they can eliminate state, federal, and self - employment taxes, but is farming "on the edge" financially worth it? Interest and depreciation take too much of the bottomline if you are a small or medium size farmer. Dad never gave me anything and I now understand why as well as appreciate it. When I bought my first farm he farmed it 50/50 with me. The next year I farmed it, hiring him to do some custom work. After each operation I got a bill which I paid. I know many dad's in the county just did this and that for their sons with no pay expected. I realized quickly that I needed to be on my own. I could always rely on my dad, but he was making me self - reliant. Too many father - son operations are actually father operations with the son(s) as labor. The son never has to "step up to the plate". Certainly not all are that way, but some. The son never becomes independent - making decisions, managing money, sharpening marketing skills. There is nothing wrong with using older machinery and starting small. As you mature you will be proud of your accomplishments. As some of the previous posters have mentioned, I have seen many of the big time operators go broke and it wasn't even their money or land. True, most of this was during the early 1980's, but just think what they could have had today if they would have been better managers. Yes, you can't blame it all on high interest rates of that period.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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