Thoughts

The most interesting thing I read today was the offering memorandum from Milk Thistle Farms, LLC. Food savy New Yorkers will know Milk Thistle as the producer of that excellent but super expensive milk in glass jars at Whole Foods and the Union Square Market. Unable to get traditional bank financing, they are apparently trying to get bond financing from the general public. They have their own counsel, and of course I offer no opinion as to their documents, but I do think they need to be quite careful. When you hold yourself out to the public in this way, danger abounds, and bondholders are not powerless.