Commission looking At Grain Contracts with Pierce Elevator Inc
PIERCE- Funding issues has caused the Nebraska Public Service Commission to take ownership of the Pierce Elevator Inc.
According to Director of Grain John Fecht, Elevator President Brian Bargstad voluntarily surrendered his licenses, his grain warehouse,and his grain dealer license to the commission on Wednesday morning.
As far as what is going to happen to the current grain contracts, Fecht says its hard to tell at this point.
Fecht: "We are looking at all the information to see where every thing is as far as delivery, as far as payment, have they been paid with an insufficient fund check that the bank won't honor."
Fecht added once those determinations are made, the commission can have a better idea of where each contract will be paid under the review and which contracts have no standing.
At this time, no one working for Pierce Elevator Inc has lost their job.
The grain elevator has locations in Pierce, Foster, and Randolph.