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managed. Other cattle-breeding partnerships that Jay Hoyt
organized after 1976 also became partners in Management. Each
cattle-breeding partnership and Management generally entered into
a sharecrop agreement similar to those previously entered into by
various cattle-breeding partnerships and W.J. Hoyt & Sons.
The Feedlot Co. partnership was composed of certain Hoyt
family members and Management. Among other things, the Feedlot
Co. partnership was formed to obtain a line of credit from a
commercial lender to finance purchases of feed for the cattle the
Hoyt organization managed.
Timeshares Breeding Services is another operation that was
started by the Hoyt organization around the mid-1980's. It
arranged leases of bulls ostensibly owned by the Timeshares
cattle-breeding partnerships the Hoyt family had organized and
promoted to numerous investors. Unlike the earlier cattle-
breeding partnerships, which typically owned breeding cows or
heifers, the Timeshares partnerships owned breeding bulls. These
breeding bulls typically would be leased to owners of commercial-
grade cattle herds under the borrow-a-bull program Timeshares
Breeding Services conducted.
B. Changes in the Hoyt Organization’s Cattle Management and
Record-Keeping Practices
By at least the early 1980's, the Hoyt organization’s cattle
management and record keeping practices changed dramatically.
These changed management and record-keeping practices continued
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Last modified: May 25, 2011