Mint lovers and Michiganders, read this news article!

Discussion in 'Random Ramblings' started by MichiganWoods, Nov 3, 2008.

  1. MichiganWoods

    MichiganWoods DD (Artistic Digital Diva)

    Oct 6, 2008
    West Michigan
    Wasn't sure which topic this really belonged under, but I consider Michiganders family, so this seemed the place to put it.

    Mint oil holds hope for farmer facing foreclosure

    Posted: Nov 2, 2008 07:28 PM

    Updated: Nov 2, 2008 07:28 PM


    ST. JOHNS, Mich. (AP) -- A mid-Michigan family is in danger of losing a mint farm that's been in the family for four generations, despite an online plea for help that brought in 1,054 customers within a 24-hour span.

    The 140-acre farm in St. Johns, about 85 miles northwest of Detroit, was founded by Jim Crosby's great-grandfather in 1912.

    Crosby's mint operation is one of the oldest in the nation to run continuously, retired California history professor Ephraim Smith told the newspaper.

    "In the 1920s and '30s, one-third of all the world's mint oil came from that part of Michigan," said Smith, who produced a documentary on the country's mint farmers.

    Crosby's financial problems started in 2005 when his father died, and worsened a short time later when an uncle had a stroke while harvesting an adjacent parcel of mint.

    The family has raised $78,000 over the past three weeks, but fell far short of the $348,000 owed the bank by Saturday's deadline.

    Crosby had hoped to sell 70,000 bottles of farm-distilled peppermint and spearmint oil. About 59,000 bottles remain.

    "That oil is our hope," Crosby told the Detroit Free Press.

    "In each bottle is all my hope, my dreams and my prayers."

    Greenstone Farm Credit can come in and take farm equipment and the unsold mint oil, he said.

    But Greenstone had no plans to confiscate anything Saturday, company chief executive officer Jim Schiller said.

    "These things take a few days," Schiller said.

    Crosby, 42, and his 48-year-old sister Linette launched an e-mail campaign a month ago to bring back old customers and find new ones.

    The e-mail told of the farm's financial trouble and resulted in more than 7,000 orders to the Crosby's www.getmint.com Web site.

    Story can be found directly at this link .

    I had no idea that Michigan was such a huge producer of mint! I love mint! Sure hope they make enough not to lose their farm.​
     
  2. miss_jayne

    miss_jayne Lady_Jayne

    Jun 26, 2008
    Columbiaville, MI
    just bookmarked to order tonight!

    i use lot's of homeopathic remedies and i will pass the link on to my homeopathic doc as me way want to refer!


    maybe post on the Michigan thread too?

    thanks for the info!
     
  3. JohnL11935

    JohnL11935 Chillin' With My Peeps

  4. Leah-yes I know I'm crazy

    Leah-yes I know I'm crazy Chillin' With My Peeps

    535
    0
    129
    Sep 24, 2008
    Skidway Lake, MI
    St. John has been such a rappidly expanding area for the last twenty years that I immagine it is increasingly difficult for farm opperations. When the highway expanded back in the late eighties it cut the commute time from Lansing significantly causing such a boom in housing that banks are no longer motivated to restructure loans to farm opperations when they are certain that the property could easily be re-sold to developers at an enormous proffit. If something happened and I missed one payment on my home I could likely just pay the interest amount and have the principal tacked on to the end of my loan, but banks have no motivation to do this when they are holding paper on an asset as valuable as 140 acres of land that could easily be turned into more than 200 individual pieces of land for sale at fourty thousand each. Add to that the value of buildings and equipment and you can see why a bank looking at the numbers would be more than happy to call in a note.
    I saw one comment critical of the amount of debt this farm had taken on. Farm debt is not the same as consumer debt. Farming infastructure is incredibly expensive. Generally the amount of debt is not related to things like big screen tv's, but the necessary costs of production. Unfortunately, debt for large infastruture needs is ultimately a necessary evil in farming for most and one of the most important functions of business, marketing is the last thing thought of.
     

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