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Re: WATCO acquires from Iowa Pacific . . .
Author: SP5103
Date: 05-19-2015 - 08:57

Not surprised. A friend in the industry surveyed those lines months ago for potential investors. I heard that Iowa Pacific had some loans due they couldn't pay, and the bank called their note in. These were the only real potentially valuable/profitable assets Iowa Pacific had, but the initial asking price was too high.

Next question is how Iowa Pacific will survive? Their remaining properties/operations should mostly be break even at best, and the money will run out eventually. The money behind this isn't Ed Ellis, but Clark Johnson (3M patent income). Not sure who is calling the shots on this sale - Clark or the bank?

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Subject Written By Date/Time (PST)
  WATCO acquires from Iowa Pacific . . . Brian Westgate 05-19-2015 - 04:36
  Re: WATCO acquires from Iowa Pacific . . . SP5103 05-19-2015 - 08:57


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