Dear Uncle John,
Thought I should send you a letter and let you know how Julia and I have been going since we took over the farm about four years ago.
That manager we appointed when we took over was very sure of himself but turned out to not know much about the practical side of farming, so we had to sack him.
Then we had an unbelievable string of bad luck with some of the most terrible weather imaginable. The drought really knocked us about and then we have had floods and cyclones. Our income has been cut to ribbons.
Our crop of Pink Batts turned out to be a disaster and our genetically modified BER is proving terribly expensive to produce but we have great expectations with our hybrid NBN which should be making us a profit in about 20 years.
We have gone into partnership with a Doctor Brown who is helping us to organically run the farm in a more sustainable way by using less water and power. This has meant we have had to increase our staff to install all this renewable energy stuff but Bob believes it will pay off in the long run.
With all of this extra expenditure and our terrible bad luck we have made a loss every year so far; but the bank has been good to us, thanks to the good credit rating you left us with.
We have had to borrow about two hundred to date, but we have had the bank Manager out and gone over everything with him and he said that what with all the bad weather and our extra costs, we will need about another fifty this year and around twenty next year.
But the year after that we should be back in the black, making about three and from then on it should be easy as we have some share farmers developing the back paddocks (we’ll screw them once they are producing,) and some good markets in China and India who will take all we can produce.
Can’t be sure when we will be able to pay back the Bank, but they seem happy anyway and we reckon we can’t lose from here; it is just a shame we had so much bad luck.
Wayne and Julia