Joachim in massive debt

[Jazzy]

Jazzy, the article you referenced said that he borrowed using Schakenborg as collateral.

How much is Schakenborg actually worth?

I think it is risky and somewhat irresponsible of him to borrow against the house and I know farming in most cases leads to high debt but he needs to re think his business strategy and perhaps focus on a singular cash crop and contract to become a supplier to a supermarket chain or food company. Very few people can survive being gentlemen farmers.

 According to the article below, it was worth 100mil kr in 2012
http://www.bt.dk/royale/p...-er-100-mio.-kroner-vaerd

So that's why EB was asking about their finances

I believe they also had articles about the new salary raise party(fest) and telling the readers  that it's at their expense.
Some DRF money man refused to comment about this debt and  made it clear that the castle was privately owned tho he did mention that Jokke doesn't get any other money from the state apart from his yearly apanage.
Who knows, maybe EB wanted to investigate hidden expenses  paid by the taxpayer.

[Barrie]

Does the media cover when Fred and Mary are over budget every year? I agree, Joachim needs to move into one of the state owned palaces and pay rent.

[Jazzy]

Does the media cover when Fred and Mary are over budget every year? I agree, Joachim needs to move into one of the state owned palaces and pay rent.

EB does.If he moved to a state owned place I am sure they would charge him minimal rent at the taxpayer's expense
I think the 100mil Kr worth is for the entire property not just the castle though I am not sure.Maybe someone else here knows.

[rogue]

Correct me if i'm wrong   3 million kroner is 3,427,800.00 euro's !! Why do they get so much money !!!

Its about 850k in euros.

Thanks for the correction  

[leatherface]

Does the media cover when Fred and Mary are over budget every year? I agree, Joachim needs to move into one of the state owned palaces and pay rent.

EB does.If he moved to a state owned place I am sure they would charge him minimal rent at the taxpayer's expense
I think the 100mil Kr worth is for the entire property not just the castle though I am not sure.Maybe someone else here knows.

I have a question, has there been any indication that Joachim uses his appendage to support his farm? I thought his appendage took care of his family's expenses so that the money made from his farm could be used to prop up the business. I think that in order to prevent such inferences it should be stipated that his appemdage should not be used to support hos business or is that not enough? 

[PeDe]

I read somewhere that Schackenborg farms belong to a 5-farm cooperative in that area. They seem to invest and buy things together....how much is known, what amount of Joachim's money goes into this cooperative, and how much their misappropriation gets him into trouble if there is one.

 


EDIT: I found it!

B.T. ' Prins Joachim som succes-sælger' - Prins Joachim's success sells (June 16, 2008)
The 5 Gaarde is becoming a solid little business for Prince Joachim and the other landowners [in the 5 estate business enterprise].

This year's result has almost doubled. Prince Joachim shows talent as a dynamic business man. Together with the other co-owners of the trading company 5 Gaarde Prins Joachim has almost doubled the year's result for 2007 from 475,000 DKK to just under 800,000 DKK...

The 5 Gaarde was started into 2001, with potatoes from Schackenborg and greens from Frijsenborg. Since then the range of goods are expanding all the time with lambs and chickens from Frijsenborg, cheese and ox salami from Gyllingnæs, as well as bread and flour and bread mixtures in the 5 Gaarde brand. And the latest 5 Gaarde product is beer. The beer is produced at Harboe Bryggerierne with grain from the farms, and that is sold in Coop Denmark's shops as well as at selected hotels and restaurants.

According to the annual report, it is a big part of the surplus now earned from supplying new suppliers. The company's management expects that the present products and range will be sold at Coop Denmark and they are working on other sales channels as well.

http://www.bt.dk/royale/p...oachim-som-succes-saelger

[Harley]

The food from De fem Gaarde is really good!

[ronda]

  Most royals have a private trust fund. Surely daisy and beer gut have set him up one from birth.  If so
  maybe he could dig into that for some more funds. 

[Hester]

Joachim and Prince Charles have a lot in common.

[Jane]

Except Charles make money from his land.
 Lucky Joachim was able to pass off the ongoing upkeep of Alex to the Danish people!

[hanzo1]

Except Charles make money from his land.
 Lucky Joachim was able to pass off the ongoing upkeep of Alex to the Danish people!

what happened with the illegal substances his farm  bought?

[leatherface]

Is there a problem with Joachim taking out all these loans? I personally don't think its problematic as long as the state doesn't bail him out if he defaults. And since he's part of a 5 farm co-op does that mean that some of the loans were taken out by the co-op?

[jigmesjigga]

That's what I'm curious about - were these loans to pay farm workers, buy equipment, seed, feed, etc?  I don't feel like Joachim and Marie and the kids live an extravagant lifestyle compared to others in this bracket.  Most of their needs are paid for other than the farm.  He's not taking out millions to pay the kids' school fees or buy yachts!?  Very intriguing (I'm obsessed with people's finances and how they manage them.  I wish I knew Danish so I could read more!)

[PeDe]

there's somewhere a another thread about the farm and the money, and it was written (forgot the mag) that with the first 2 or 3 loans he bought heavy machinery for the farm and other equipment.

[Soovie]

Whatever the case re the debt, I think Joachim seems to deserve kudo's for trying to make an honest living.

Unlike his good for nothing brother (lord help Denmark when Ferdus ascends the throne!) or a waste of space, I mean, people, like charlotte casiraghi whose claim to working is posing anemically for magazines and, seemingly out of sheer boredom, adding yet another good for nothing trustafundian to the already too crowded planet of ours. 

The one, to me, weird intriguing thing is Joachim's choice in wives.  If he's such a farmer, how come he keeps on choosing delicate city girls for a spouse? I know nowadays modern farmers are business people who need a lot of managerial and office skills, but still.  NEVER understood Alex living in the country side.  Marie seems malleable, and doing whatever her husband wants, but still.  Seems a lazy city girl to me, at the end of the day. Kind of like Sweden's Maddie.  Hope I'm wrong.