Posted 11/20/2012 01:01 (#2707043 - in reply to #2706541) Subject: Re: Top Producer of the year
potterben - 11/19/2012 20:46
Hi, I'm the author of the Top Producer profile on Mike Stamp. Obviously, we were surprised at some reader feedback after the story ran, and we've been and will be working hard to learn more, and to share with you what we find. I've been in correspondence with Mike Stamp’s attorney. As of today, no charges have been filed, and he has not been to jail. Here’s a link to what has been confirmed http://www.agweb.com/article/farmers_approach_to_full-circle_farmin...
Well I must admit that is a good article. I have wondered for the last few years if he could possibly save enough money cutting out the Middle Men to turn a profit.
It still looks to me like the Lawyer Sugar coated receivership. The Bank can't recoup their money on rented ground that has pivots on it and such.
It will take time to tell how it will shake out. He made Huge improvident to North Star Mill. It's too bad my fuel supplier got stuck for $250,000.00 by the previous owners of the Feed Mill / grain elevator. They the Fuel suppler spend $40,000.00 on Lawyers.. they could have gotten $160.00 per week Judgment, or could have spent more on Lawyers and forced a Bankruptcy and got nothing.
They were running a fuel hauling Operation, which I was just told has ceased operations recently.
It's Ironic that Stamps Father filed Bankruptcy and stuck the Local Fertilizer Dealer that he bought also. Is that what they mean by full Circle? Don't pay your bills then buy them out a few years later?
Raising Hogs was a tough business a few years back, I know some other Farmers in the area who raises hogs had to sell Timber ect to make ends meet in the tough years.