Posted 11/18/2012 11:42 (#2703842 - in reply to #2703533) Subject: Re: Beating a dead horse- Stamp Farms
4speed - 11/18/2012 08:55
Screw him that's what he's been doing to other farmers in 6 counties!
The only way that a Farmer who's Father and he farmed 1,400 acres and raised Hogs and filed Bankruptcy can expand to farming over 40,000 acres in a few short ways, is to borrow a lot of money from some where else.
Basically Stamp Farms was paying outrageous Land Rents with borrowed money. Sure it's impressive to have 6 Quadritracs and 3 24 row planters and 1 36 row planter and 8 combines and 7 grain carts and uncountable semi trucks...
This Guy had an addiction to Big Time Farming and his Financial supporters were his enablers.. It's like giving drugs to a drug addict of giving money to an alcoholic to buy more Booze.
Yes he caused a lot of grief to many other Farmers in at least 6 other Counties. The question is did he borrow the money Legally of did he cook his books and borrow money with fraudulent income claims?
If he expanded so fast through fraudulent claims he could very well be looking at Prison time.
I heard the Biggest Farmer in Michigan is Borson farms and they do farm close to 50,000 acres so I have heard, and they built up to this over the years and do pay their Bills so I have heard.. It's a big difference.
Up until now Fall of 2012 Stamp Farms had been paying his bills and his rents.. but as Stamp supposedly stated, he had out grown his Banks????
Me being an outsider looking in, I would have to say that Stamp Farms was run in the same Fashion as our Federal Government. One thing our Government is good at is War, but in War money is no object and they don't have to show a profit to get more funding.
I don't mean to talk politics,, I just mean to make a point. There are lots of big Farmers in the area farming Big acres, but they have been slowly expanding for the last 10-30 years.