00:00 Hey everybody, it's Lee Lubers, the Extreme Ag, and here I am with our corn head today. I know we could trade for a new folding 12 row head, 00:07 but that'd be at least 130,000 to boot. And in times like these, when margins are tight to non-existent, you always gotta look at 00:15 how are we gonna pay ourselves? How are we can going to conserve working capital? And that's what we're doing here. 00:22 Uh, we're saving 130,000 and we're paying ourselves. We have a great corn head and we're rebuilding it. So our snouts, we're getting worn 00:30 through on the sides and places. So we won't put the kits on for stainless steel strips. And uh, we can do that for about 00:40 well pennies on the dollar. Uh, maybe, uh, less than 10% of what new snouts would cost. We can do this. So that's great. 00:48 Uh, we're going through all of our rows and all new sprockets drive chains. We've got the nice deep tooth chains on the newer 00:57 style corn edges. They last a long time going through deck plates, checking them out. We're gonna go through and all new seals in every 01:05 gearbox on every row. And uh, we're running through everything on it, taking our time, fine tooth comb, philosophy, 01:14 preventive maintenance, and then we're coming around and all 12 rows. Everything's getting a little bit of love. 01:21 And then we come over here, all new floor in the center. Was it totally shot? No, 01:28 but it's time to update going through the drive shafts, going through everything. And that's the one key point that I wanted to make is like, 01:36 are we anti trading equipment? No, we're trying to spend smart money. And that's how you get through tougher times. 01:42 Working capital is key. And here we can have a corn head that's gonna perform just like a new one, all rebuilt 01:49 that we know we're familiar with. Works great on our machine, gets the job done, and there's 130,000 01:56 that we did not have to spend in a trade. And we're gonna spend about 8,000 in parts and we're gonna pay ourselves 02:02 because if we would've traded, they would go and they're gonna charge, they're gonna factor into the trade, a hundred dollars an hour plus 02:10 to have their people do it. Let's pay ourselves. That's the whole thing. So are we anti trading equipment? No, absolutely not. 02:19 You can see in the background there almost new skid steer because we got the right trade, it made sense 02:27 and loader tractors, uh, it was time to update. We got the numbers that we wanted, but on the corn head to get to the numbers that we wanted. 02:35 The best way we could do it is redo it ourselves. Keep running it. So, uh, that's the thing. When we're in an era of slim to no margins, 02:46 it's all about the smart money, paying yourself and, uh, working capital. You need that every year. 02:53 And it really shines in years like this. So just wanted to stress to people, look at all your pieces of equipment and look, is it time to trade 03:02 or do you better to pay yourself?