A High Rankings Forum thread is a perfect example of how people can misinterpret SEO terms. In this particular case, because a site has lost its rankings, an individual is looking to build a "link farm."
Well, sort of. A "link farm," he says, is how he builds reciprocal yet relevant links. (A real "link farm" is frowned upon by Google.)
If you ask me, that doesn't sound like a link farm. But there's a problem within this industry that can cause serious penalties (without any idea why) if you're not understanding the proper SEO terms.
My guess is that in this particular member's case, he lost rankings because his boss misinterpreted another SEO tactic yet again. It's very important to understand these terms clearly. If in doubt, ask a forum member for help.
Forum discussion continues at High Rankings Forum.