Just when Malheur County’s economy looks promising, local industry is reeling from the collapse of Farmers Grain. Business and government leaders should build something new from the rubble.
Farmers Grain sunk under a load of debt. The Nyssa company appeared on the outside to be a go-go outfit. Corn and wheat farmers in the Treasure Valley had a new buyer for their product. They could rely on modern equipment, sleek new silos and a management apparently attentive to their needs. The company said in court filings it did $30 million in revenue last year.
But the sun bouncing off the silver silos seems to have blinded company founder Galen Jantz to what was really happening. The company had more debt than it could pay, and running harder didn’t make it any better. By accounts of those who know, Jantz’s ambition outran his business expertise. He is . . .