Vicksburg MI 49097 | mcconnell - 11/18/2012 14:45
Today in jail, the same month Top Producer crowned him as america's top man in agriculture. Idolizing a fellow who was acting as a criminal to acheive these things. All the suppliers that will lose as this operation falls must pass this loss along. This means....we pay, america pays, for the criminal gambling of one ego filled person, who was knowingly making the wrong choices everyday for his operation, employees and family. He was 'cookin the books'. Stamp is AG's ENRON scandal, just a different industry. So another chapter in AG is written......
I don't know where you get your information, but your speculation seems to be accurate. 3 years ago he was paying $150.00 per acre rent Dry land...and $400 irrigated to Farmers in IL or IA that doesn't sound like a lot but for South West MI it is a lot.. This year $200.00 dry land and $450 irrigated, then they do pay that much in the area already for seed corn ground.
Now three years later a lot of Farmers are paying close to that much rent. yes it will cost others to cover the Banks losses, but I think one vacation to Hawaii for Michelle Obama cost the tax payers $155 Million.. And Obama practically gave away 98 Billion to the Green energy Companies.. I am guessing they made 20 cents for every dollar spent. I would guess Stamp could produce 80 cents for every dollar he spent.
Most fly by night operators screw all of their unsecured debtors, yet Stamp was paying his land rent and input suppliers, it sounds like he just got to the point he could not pay the Bank back when they wouldn't loan him more money.
As far as the 70 plus Employees, they may be out of a job now, but they had a good job with good pay for a few years.
Wells Fargo put a lot of money into the Decatur area. The Feed Mill Elevator supposedly is 4 million Bushels now.
He was not the Top Producer, but one of the Top 3... I guess Banks and Farm Magazines need to do their homework better and talk to the neighbors before they give out awards or loans. |
Top Producer of the year
