I learned this week that George Washington had no formal education, yet he read a library full of books and became president.  Often times, we learn where we can, and now we can get lessons from watching and reading about the Olympics.  Dean Heffta, Senior Director of Development at Water Street Solutions talks this week with Dewey Nelson from KRVN about what lessons we can take from this event.  Olympic Lessons for Building the Next Generation Heffta AUDIO

For the text of the interview, click here: Olympic Lessons for Building the Next Generation

It's easy to get stressed out if you're looking at your crop these days, but a look at the total financial picture could help calm you down...if you bought the right crop insurance.  This week on www.farmfutures.com, Darren Frye, President and CEO of Water Street Solutions, walks us through the math of insurance indemnities and how they fit into your total financial picture.  Read the Finance First post HERE.

Even if you believe you may have a claim due to this year's drought, crop insurance premium payments will still accrue interest if not paid by October 31. The Risk Management Agency has announced that for the 2012 crop year only, accrual of any interest on unpaid spring crop insurance premium is deferred for 30 days, until November 1, for all policies with a premium billing date of August 15, 2012. However, interest that accrues after October 31 will not be waived, only deferred. For example, if the premium is not paid by October 31, two months of interest will attach at a rate of 1.25% per month. Choosing to wait for a potential claim to pay for an insurance premium will include charges for all interest that accrues during that period.

If you're dealing with serious drought and ready to cut silage or bale beans, call your agent first.  The right moves can save time and money when it comes to collecting on your claims, according to Darren Frye, President and CEO of Water Street Solutions.  Check out the details in his Finance First post of www.farmfutures.com.  You can read it HERE.

Crop insurance is going to be a big savior for this year's crop.  Now it's important to do the right things to get your crop adjusted for a payout.  Deb Etheridge is Vice President of Insurance for Water Street Solutions.  Here she talks with Dewey Nelson of KRVN about the right way to move forward.  The Drought and the Crop Insurance Process Etheridge AUDIO

For the text of this interview, click here: The Drought and the Crop Insurance Process

This year was to have been the first year of a new policy that required earlier collection of crop insurance premiums - but now the drought is changing that.  The Risk Management Agency is announcing that for the 2012 crop year only, accrual of any interest on unpaid spring crop insurance premium is deferred for 30 days, until November 1, for all policies with a premium billing date of August 15, 2012.  For any premium that is not paid by October 31, interest will accrue consistent with the terms of the policy.  For example, without this change, policies with an August 15 premium billing date would have interest attach starting October 1 if premium was not paid by September 30th.

This is an important reminder for farmers who are thinking about destroying their drought damaged crops by chopping them for silage, haying, grazing, etc.  Please be sure to contact your insurance agent.  It is important for crop insurance purposes that you talk with your agent and/or claims adjuster FIRST.

Buying more farmland is an option when you're thinking about ways to increase production.  But there are other ways to add revenue to the bottom line and grow your business through lesser investments.  This week Darren Frye, President and CEO of Water Street Solutions talks about adding irrigation on www.FarmFutures.com.  It's not an option in all areas, certainly, but it might be a consideration for you as you look to your future.  Run through the numbers with him by reading HERE.

It's easy to get buried in the duties of the day to day.  Prioritizing and living by those priorities takes work and discipline.  Dean Heffta, Senior Director of Development with Water Street Solutions talks with Dewey Nelson from KRVN about this.  Staying on Track Heffta AUDIO

For the text of the interview, click here: Staying on Track

You probably never thought about this when you decided to start farming - but you might have foes out there that have nothing to do with Mother Nature or insects.  I'm talking about lawyers.  This month in Money Matters in Illinois AgriNews, Darren Frye, President and CEO of Water Street Solutions walks you through some potential risks - and ways to take them off the table.  ILAgriNews_July 13 2012_Smart business procedures can help prevent litigation