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  • From: CAVM AT aol.com
  • To: market-farming AT lists.ibiblio.org
  • Subject: [Market-farming] Re: Worms
  • Date: Sat, 14 Jun 2003 09:09:18 EDT

In a message dated 6/13/2003 11:43:58 PM Central Daylight Time, market-farming-request AT lists.ibiblio.org writes:


Neal,
To what do you attribute this meltdown?  Your basic pyramid scheme run to
it's inevitable conclusion?
> As Ted said, there was a major melt down of the composting worm market
about
> 6 weeks ago.

Adriana


I would hate to prejudge the intentions of the folks who put together the B&B worm program.  It is said that they told prosepective investors that they were selling worms on a huge scale to cities to eat their garbage and to eat holes in the landfills.  Perhaps they claimed other things as well.  Anyway, the attornies general of several states claim that they mostly sold worms to investors and had few outside markets.  As you say, a pyramid scheme.

One of the owners of B&B died and the other couldn't keep all the balls in the air, apparently.  It is said that they took in $25,000,000 before it came crashing around them.

I am told that the basic deal was that an investor bought a certain amount of worms at $100/lb along with instructions on how to care for them.  The company bought them back at $8/lb with natural reproduction being the method the investor had to regain his investment.  Many investors bought in at $50,000 some at $100,000.

We hope to provide enough accurate information on worm farming, organics diversion, marketing castings, etc to allow those who are interested to stay in the worm business.  For those who want to use the skills and assets acquired with worms to go into a realistic form of alternative agriculture, we will offer training, organization, marketing assistance, etc.  With luck these seminars will be put on the weekend of 7-26 & 27 in KY.

Neal Van Milligen
Kentucky Enrichment Inc
Rural Innovations Inc
www.kentuckyenrichment.com
CAVM AT AOL.com


  • [Market-farming] Re: Worms, CAVM, 06/14/2003

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