In the spring of 2012, as a new generation of farmworkers was entering the workforce, a new breed of farmer was emerging.
With no other work to fall back on, these young farmers were finding themselves working long hours for a fraction of their previous wages.
These farmers had just arrived in New England.
And with the growing number of new farm workers, their wages were skyrocketing.
So much so, that in April of that year, New Englanders were reporting a higher unemployment rate than before the Great Recession hit in the fall of 2009.
The Morgan brothers were not just the first farmers in New Hampshire to find themselves on the brink of destitution, they were also the first to make a significant difference.
In the year following their groundbreaking operation in Garden State, the brothers and their son had already found themselves facing financial ruin.
The brothers’ farm had lost its largest asset—a large piece of property that had once been their home.
And after years of fighting to save it, the farm was now in a financial hole.
Now, with the farm and mill in their rearview mirror, the Morgan brothers needed to find ways to save their farm.
They began looking at what was possible.
Their idea was simple: They would build a massive new mill to house their farm’s machinery.
The mill would produce a steady stream of water that would supply the family’s water needs.
And for a time, it would be a profitable venture.
The idea would also open up the brothers’ business to the outside world.
With the help of a small group of friends, the Millwork Group bought land in Vermont, New Hampshire, and Maine.
Over the next several years, they began to plan their new mill and build their operation.
By the spring, the team had already built three milling machines.
It was time to move on to the next phase.
The Millwork team began their milling operations in 2013 with the construction of the Millwright mill.
They then worked their way through the first phase of building a large-scale mill that could house hundreds of machines.
By March of 2014, the mill had begun construction, and it had been a year since the Millworking Group had seen its first mill.
By May of 2014 it had become clear that the Millworker Group was in trouble.
It had just finished the first year of its milling operation and was now facing the daunting task of rebuilding its infrastructure.
To make matters worse, the company was now running out of funds.
As the team continued to build their mill, the losses piled up.
The team began to wonder what they could do to avoid paying back their creditors and creditors were beginning to ask the Millworkers why they weren’t investing in their farm as a company.
They also began to suspect that there was something terribly wrong with the company.
By late June, the financial situation of the company began to deteriorate further.
The company had a massive debt pile of more than $100 million.
As investors began to demand a more fair share of the mill, management began to question whether or not the team should continue with the Millworks mill.
Management also began talking to the Morgan Brothers about taking on a bigger piece of the operation.
Ultimately, the two men agreed to share ownership of the business.
In order to fully understand the financial issues that the Morgan and Millworkers faced, we spoke with both the Morgan’s and the Mill’s to understand the details of their financial problems.
It became clear that management had serious concerns about the viability of the farm.
The following account of the financial struggles of the Morgan farm was based on interviews with three members of the team.
It has been edited for length and clarity.
The first thing that I noticed was that there wasn’t a lot of money coming in.
The money that came in was coming in from the farm, the water, and the mill.
We had no money coming out of the bank or any other kind of loan.
The farm wasn’t producing anything, so we weren’t getting any money.
We just couldn’t afford it.
It wasn’t like we were trying to run a business.
We were just doing this thing, and that was it.
We didn’t have much money to invest in it.
The other thing was that we had this big loan that was coming due for the mill that was going to run for at least the next two years.
So it was a pretty bad situation.
I mean, it’s really bad.
We weren’t doing any business at all.
So that was really a big problem.
The second thing that was a bit more concerning was that the loan was coming from a bank that had been involved in so many bad deals and bankruptcies.
So they had no interest in paying it off.
The third thing that really worried me was that they were putting out these new mill machines and there was a lot more water coming in than we were able to produce.
So we knew that we were in trouble because