The PACA Trust process is discussed in Blueprints, and justifiably so. Over the years it has been around, it has proven to be an effective tool in keeping produce moving.
The produce industry works on the strength of two overriding factors—trust and open credit. To ensure this business model could continue to function effectively, the PACA Trust was implemented. When first proposed, there was great pushback: banks fought it, there were no court precedents, and the concept of creditors who did not have any preferred interest going ahead of those that did was an affront to common sense. Over the years, as the courts issued decisions supporting the law, banks came to accept it, and all parties realized that as “unusual” as the concept was, it worked.
Fast forward to what is currently being contemplated in Canada. For months, the industry has been in discussions with the Canadian government to initiate something similar. Perhaps with the change in government leadership, a PACA-like arrangement will be implemented, all will benefit from this visionary type of business dealing.
Common sense trumps all else and the PACA Trust is a common sense, effective, and proven law. The naysayers’ arguments over the years have been answered. Those who abuse the trust of their business partners, through dishonest or misleading scenarios, cannot escape the consequences of their actions—because of the PACA Trust. It has teeth.
Blue Book Services salutes the industry visionaries of the past; they had the foresight and courage to propose a law that has proven its worth thousands of times over. We are also proud to mention a milestone of our own, our 115th anniversary.
What a privilege it has been to work with so many fine individuals in all segments of the fresh fruit and vegetable industry! When examining old photographs, it is obvious how far we have come as an organization. The “Baker Potato Guide,” created in 1899, grew into the listings and ratings of businesses that exists today. Produce Reporter Company was the corporate name given to this organization, but since its founding it has been better known as simply the “Blue Book.”
Although there have been changes in business attire and technology, the founding principle of assisting our members to make informed and educated decisions continues unchanged.
We look forward to serving you, our valued Blue Book Members, for a very long time.
