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The average lease rate for hunting land in NC is $12 per acre which equals $960,000 for a piece of property this size. It should command more than that based on the sheer variety and quality of hunting that exists on the parcel and we have not even factored in the added fishing opportunities. “56,000 acres are a working forest and 1,500 acres are agricultural. State acquired this land in the 30’s. Last year the property only generated $861,000 in income.” Opponents appalled by lack of transparency in Hofmann Forest sale by Jay Price 10/29/13 N&O.
Bill, deer hunters do come in a variety pack and most are willing to spend $500 to $1,000 a year to participate in a hunt club. Secondly, some of my best friends are native NC pig farmers. Could not agree more about wing shooters. You mater guys should appreciate the thought of a bean counter trying to figure out PH levels and trying to scratch out red clay for a brown top millet crop. I was shocked when two dozen dove took flight last Thursday. Shocked, I tell you.
I am always interested in articles written about asset diversification. I have read multiple sources over the years that state timber lands provide a safe 8% return in terms of growth in value per year. Unfortunately, the math behind the 8% is never provided. 8% of what, the cost per acre which is a moving variable. I simply divide 100% by the 25 year life span of a pine tree and come up with 4% per year. According to my google searches, Hoffman generates 2.0mm in income per year. Insert Picard face palm. That is $25 a year per acre for a whopping $625 over 25 years or just 20.8% of what it should generate over 25 years. $625/$3000. Job well done. (sarcasm)
I don’t think educational goals and profit maximization goals associated with the largest forest owned by a university in the world are mutually exclusive. I just expect better results from my alma mater and from our College of Agriculture & Life Sciences, College of Natural Resources, College of Sciences and from Poole College of Management. The State of North Carolina has a goal to increase publicly held forests by 1,000,000 acres before they are all gone. Why are we selling to an out of state pig farmer/developer? Why can’t our state purchase the property? Oh, that’s right, they are too busy pissing our tax dollars away on money losers.
Gowolves, as an accountant, I agree that there is a number where it makes financial sense for the university to sell the property if they simply do not want to manage 79,000 acres of forest and insist on selling and if they have other educational properties. I would rather it remain available to the citizens of North Carolina. I hope they get a better return on the 150mm but I won’t hold my breath. Bill mentioned dumbA%% deer hunters of which I am one. Hofmann is divided into several hunt clubs. 79,000 acres should be generating a decent amount of hunting lease fees but it probably is just another area of financial mismanagement.
I always love the last few days of August to comp template the awesomeness of Fall. My son’s birthday is September 27th and so I purchased tickets yesterday hoping for a miracle. It’s about to get loud around here, real loud. Go Pack!!!
Nice summation Bill. Had this exact conversation with my brother (Weyerhaeuser employee-30 years) last year. 80,000 acres – first thin at 15 years, clearcut at 25 years. That sized tract should generate at least 9,600,000 a year on a rotating basis. (80,000 x 3,000(1st & 2nd cut = $240,000,000/25 year cycle = 9,600,000 a year) What other income streams could be generated on an 80,000 tract outside of just lumber??? Prices vary throughout the state but at $1,900 an acre that tract should be clearcut to the last one inch gum tree prior to sale. Would love to see tax information and intended use of 150,000,000. What makes financial sense to the sellers??? I know the buyers are licking their chops.
Bill, do you have any idea how long it takes a broken down 50 year old to plant 600 seedlings per acre? I got 60 acres to replant.
Swofford would like nothing better than to send ND a message that UNX still owns the ACC by tacking on additional punishment but he can’t with UNX mired in —-. Or can he??
I lost my over/under bet on the deadskins thread probably due to this forum and on a day I found a Longmire jacket for sale in Montana. The Blackfoot will break my summer boredom for the next 12 days. Is Blackfoot offensive???
Come on, dammit. It’s been a week already. The over/under on this thread was 500 posts by 8/1/14. This reply won’t count.
I’m bored so don’t waste your time on the following. It’s for cats only.
WHAT CATS DON”T KNOW ABOUT RABBIT HUNTING
– once a beagle jumps a rabbit it more often than not runs in a circle
– if said rabbit starts at 6 o’clock position, runs clockwise to 9 spot, move forward of 6 and right to 3
– have your gun or paws up when the dogs hit 12 o’clock high
– miss, and you will, the rabbit completes the circle and lesser dogs run the old, stale loop
– a squealing rabbit waited too long (you should know this one)
– show the pack the kill or risk a time wasting backtrack
– the more brown and black in a female beagle the better the rabbit dog
– killing for the sake of killing is not hunting, cats!
– killing does not make you a man or a cat, it should make you self sufficient
– a wild rabbit will bite you
– when sharing the cleaned bounty, leave the paws on, otherwise some brethren won’t accept it
– rabbits can die from a nose hit, .410s and 20s are enough
– shooting a rabbit and having it expire in the middle of highway 74 was acceptable in the 1970’s
– best hunts, clear cut land with massive bull dozed brush piles, 20-30 rabbits per pile easy
– non-native indians can’t handle barking beagles, will you sign our petition, welcome to the south, dogs bark
– the baying from a pack of beagles, regardless of outcome, is much sweeter than the silent stalk
– my next dog will have THEE DUKE SILVER on the final paperwork and will not bond with cats, probably will in my absenceAgain, I was bored and pictures of beagles chasing a rabbit brought back childhood memories. None of this is new or useful information for a southerner. Could be for a cat.
If they are going to do a study in my hood, they better jump on it. Missing pet notices are at an all time high. I will give the devil (Mr Cat) his due when he drags a dead coyote onto my porch.
Fair chase – stick and string or slingshot. Easy to clean, tastes like chicken. IMO, dove, smoked wild turkey breast or elk are the best.
Walt’s live Howard Hughes turned out to be a Hard(l)y Boy. The Bridge is an excellent show.
Brother in law’s insurance all most tripled. I’m sure it has nothing to do with that pre-existing Crohn’s disease.
MJ majored in geography and his transcript shows AFAM classes. Jordan may have been able to save himself millions by taking some real finance and accounting courses in college or at the least, have peace of mind that he isn’t being gouged fee wise by his array of accountants, agents and business partners. Who knows, maybe that Introduction to Acting class will pay off if he is stuck in front of a Congressional hearing.
I’m praying for a coordinated effort between Unx, Wainstein and the NCAA that only results in minor verbal spankings. Keep painting yourselves into a corner. I know the odds are slim but eventually an outside entity could gut these tools.
Completely agree that the attorneys have a prioritized laundry list of items to sacrifice as the need arises. Roy is not far down the list to cauterize the overall wound and keep Dean out of it. Roy Boy would like nothing more than to bask in the lime light as he falls on the sword to save all things Carolina.
The perfect script would have this drag out for another 2-3 years with more infractions surfacing. It will never happen but anything less than a five year death penalty for all programs involved and a hefty fine to be divided by the ACC schools that suffered for decades would be too little.
