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Resumes of Associate Consultants

Dr. Jimmy T. (Gunny) LaBaume, PhD; ChFC

President & CEO

Education and Academic Experience

1986 – 2011. Professor and program director for the Agribusiness program at Sul Ross State University teaching courses in: Agricultural Economics, Farm & Ranch Management, Farm & Ranch Records and Accounting, Range Use Economics, Environmental and Natural Resource Economics, Estate Planning for Farmers & Ranchers, Income Taxation of the Farm and Ranch, Marketing of Agricultural Products, Income Taxation of the Farm & Ranch, International Agriculture and Foreign Trade and The Role of Agriculture in Economic Development.

Also taught General Animal Science, Principles of Range Management, Range Improvements, Soils, Animal Nutrition and Soil Morphology and Genesis. I currently teach the undergraduate Agricultural Statistics course.

Early research interests in range improvements, grazing systems, land tenure systems and range livestock economics. More recently research interests changed to private property rights on public lands and the economic consequences of government interventionism in the form of agricultural and natural resource policy.

Published several books (A Handbook for Ranch Managers is now in its 4th edition) and hundreds of articles and editorials in popular and scientific journals.

Chartered Financial Consultant (ChFC): Provided turn-key financial management services (accounting, budgeting, tax planning and return preparation, etc) for eight Texas corporations, most of which are involved in the range livestock industry, since 1996.

Founded the Institute for the Application of Austrian Theory to Environmental and Natural Resource Economics. a one of a kind clearing house for literature and information dealing with the application of the private property rights, free market based Austrian Theory of Economics to the agricultural and natural resource sciences.

Additional Experience and Work History

1984-86: New Mexico State University, Las Cruces, NM. Visiting professor of Agricultural Economics and Agri-business temporarily filling the position of a regular faculty member on development leave.

1980-83: University of Arizona. Tucson, AZ. School of Renewable Natural Resources, Range Management Department. Range Research Task Force Leader. Involved in private property rights issues on public lands.

1978-79: Ft Lewis College, Durango, CO. Assistant Professor of Agriculture. Taught courses in Agronomy, Soils, Weeds and Weed Control and Irrigation.

1975-77: Graduate Assistant at Texas Tech University, Lubbock, TX. PhD in Land Use Planning, Management and Design with “split” majors between Range Management and Economics. My dissertation research was done at El Rancho Experimental La Campana, Chihuahua, Mexico. Title: The Socio-economics of Communal Grazing Land Management: The Case of the Mexican Ejido.

1974-75: General Manager and Chief Financial Officer for Quarter Circle 5 Ranches and Chihuahua Cattle Company. Between these two companies, there were three ranches in California, two in Wyoming with land leased in Texas and New Mexico. They had cattle in feedlots in Colorado and Arizona and owned a feedlot at Salinas, CA. All in all, they owned or controlled some 60,000 head of cattle at any given moment.

1972-74: Earned a Master of Science in Animal Science at Sul Ross State University with a “double major” in accounting completing all of the accounting courses necessary to fulfill the American Institute of Certified Public Accountant’s (AICPA) education requirement for the CPA certificate. I also worked during this same time as a Staff Accountant in the CPA firm of Kenneth K. Otto & Co. CPAs.

1970-72: Finished a previously started Bachelor’s of Business Administration (Management) degree at the University of North Texas that had been interrupted by the Vietnam War.

1968-70: US Marine Corps, Vietnam veteran. I might also add that, as a Marine Corps reservist, I was mobilized in 1990-91 for Operation Desert Storm.

Prior to the above and subsequent to high school graduation: I mostly rode bulls, drank beer and chased girls while pretending to go to college at what was, at the time, North Texas State University. During that time I held a variety of jobs: Rough neck in the oil fields of West Texas and South Eastern New Mexico; Security Guard; Framing carpenter; Quarter Horse Breeding Farm Manager and rodeo cowboy.

Summary of Qualifications and Specialties

Over my entire professional life, I have specialized in providing assistance to owners of working livestock ranches, and other caretakers of the land—including lessees, banks, insurance companies, attorneys, accountants, etc. These include:

Production Management Services:

o Range condition assessment and trend monitoring;
o Carrying capacity and stocking rate determinations;
o Range reclamation and improvements;
o Grazing systems;
o Livestock management programs—breeding, herd health and nutrition supplementation programs

Financial Management Services:

o Business planning
o Business structure decisions—sole proprietorship, partnership, corporation or limited liability company—and business set up assistance;
o Turn-key management of ranch land for absentee owners, banks and trusts
o Accounting systems—product costing and enterprise accounting;
o Cash flow and capital budgeting;
o Income and estate tax planning and return preparation;
o Investments, wealth accumulation and retirement planning;
o Market risk management (hedging);
o Ranch and other rural property appraisal for banks, insurance companies, real estate brokers—including partial interests (minority, leasehold, life estates, scenic and conservation easements and the split estate in federal lands.)

Legal services for attorneys (Research and expert witness testimony);

o Contract disputes;
o Condemnations
o Property valuations
o Private property in public lands
o Regulatory disputes between ranchers and public land managers

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