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Swisher Recognizes
Arkansas Farmer
David Wildy was named the 2016
Swisher Sweets/Sunbelt Expo South-
eastern Farmer of the Year.
In October, David Wildy, a diversified row crop
farmer from Manila, Arkansas, was selected as
the overall winner of the Swisher Sweets/Sunbelt
Expo Southeastern Farmer of the Year award for
2016. Wildy was chosen as Farmer of the Year
over nine other state winners who were finalists
for the award.
The award recognizes excellence in agricul-
tural production and farm management, along
with leadership in farm and community organi-
zations. The award also honors family contribu-
tions in producing safe and abundant supplies
of food, fiber and shelter products.
A full-time farmer since 1975, Wildy farms
more than 12,000 acres and grows cotton, corn,
soybeans and wheat. He is a new grower of
peanuts and potatoes. He also has a small beef
cattle herd. Wildy is known for his generosity in
sharing his farm and its resources with agricul-
tural scientists and researchers from the private
industry and from the University of Arkansas,
Arkansas State University and the U.S. Depart-
ment of Agriculture.
Peter Ghiloni, president and chief executive
officer of Swisher International of Jacksonville,
Florida, praised Wildy for his farming accomplish-
ments. “David is an outstanding representative of
our nation’s best farmers,” said Ghiloni. “It is an
honor for our company and our Swisher Sweets
cigar brand to recognize David and his farm.”
“Farming is a tradition in our family,” said
Wildy in accepting the honor. “And receiving
this award is a humbling experience that we will
all treasure.”
As the Southeastern Farmer of the Year, Wildy
will receive a $15,000 cash award plus $2,500
as a state winner from Swisher International. He
will also receive the use of a Massey Ferguson
tractor for a year from Massey Ferguson North
America, a $500 gift certificate from the South-
ern States Cooperative, a Columbia jacket from
Ivey’s Outdoor and Farm Supply, and a smoker-
grill from Hays LTI.
NJOY Files
for
Chapter11
Despite its reputation for innovation, the e-cigarette
and vapor company succumbed to too much debt.
E-cigarette maker NJOY filed for Chapter 11 bankruptcy in Septem-
ber, providing documentation in court showing that it has fallen on
hard times due to declining sales, debt and lack of market support.
Gross sales of the company’s Kings product hit a peak in 2013 at
$92.9 million, but subsequently plummeted to $22.6 million in 2014
and then $7.4 million in 2015. The Kings 2.0 product the company
launched in late 2013 “was not ultimately accepted by the market-
place,” according to a spokesperson.
At the time of the filing, the company had an accumulated defi-
cit of $234.4 million, according to the documentation. While NJOY’s
troubles predated the FDA deeming regulations, the company cited
“substantial expenses” related to compliance as one factor contrib-
uting to its filing, along with a reported $2.5 million in expenses in-
curred defending a patent infringement case brought against it and
other e-cigarette companies by Imperial Tobacco’s Fontem Ventures.
NJOY had hired Barclay’s Capital to explore a potential sale of its
business earlier this year but was unable to find a buyer, says Jeffrey
Weiss, NJOY’s interim president and general counsel. Under Chapter
11, NJOY will look to continue operation, paying staff and certain
suppliers essential to its operations, while trying to sell its assets.
Industry observers say that more vapor companies are likely to
struggle in today’s regulatory climate. Still, retailers asked about the
filing were relatively sanguine. “I haven’t stocked their products for a
long time,” said the manager of a vapor shop in New Jersey. “I don’t
think it will have any affect on the market.”
8
TOBACCO BUSINESS INTERNATIONAL
NOVEMBER/DECEMBER 2016