NPSC Extend Pierce Elevator Funding Deadline For Final Time
LINCOLN-The Nebraska Public Services Commission has given the Pierce Elevator Inc until the end of the week to come up with funding needed to keep control of the business.
NPSC Director of Grain John Fecht met with Elevator President Brian Bargstad and his legal team in Randolph Tuesday to discuss the current liabilities facing the company and the status of potential investors funding the operation.
Attorney Lance Carlson asked for one more extension, stating they have a meeting Thursday with a major investor who plans to make a decision on whether to fund the operation on Friday.
Fecht says he will wait until Friday, but in the meantime he says Elevator officials need to answer to their clients who have current contracts with the company.
Fecht: "Theses people need to be able to make decisions on the marketing of their grain. I would not tell folks to wait any longer. If they want to call Brian and get out of those contracts that he would need to highly consider letting them do that under the circumstances that we are under."
Fecht adds the clients have waited for over two weeks and it is not fair to make them wait any longer.
The company has elevators in Pierce, Randolph and Foster.