Vicksburg MI 49097 | 8320farmer - 11/18/2012 15:47
From what I have read from his facebook page websiteand top producer magazine. Im hoping he fails. He has ruined between 10 and 20 farming operations in his greed to farm so much. besides now all those employees now face unemployment. Besides all the land owners that aren't being paid there rent. I'm just an outsider looking in but you cam grow to fast. He seems to me like one of the guys that thinks grain prices can't go down but they can and will. in just a few years everything is gonna be totally different because of some drastic change in the Ag economy. I don't know what it's gonna be but i think were heading for the 80s all over. Mankind does repeat it's self. Just read the history books.
I was reading 1 year ago that after La ninja passes corn prices could drop to $4.50 per Bushnell, I guess they could not predict the drought though. Even with out Stamp offering almost double the going rate for land rent, other Farmers were upping the rent too.
I know one of his Land Lords was getting $200.00 per acre dry land.. he was paid $100.00 already last Spring.. so even with half of his rent already paid,, that's pretty much 100% rent for the area... South West MI does not yield that great if not irrigated.
Stamp really was good at putting on Fertilizer and Lime ect.. he didn't run the land down like many tenant farmers do.
He is failing because he was spending way more than he was making and the Bank has cut him off. I don't know what he was thinking, but it was more like a Ponzze scheme for him.
In his video about Producer of the year he said, "Many Bankers laughed me out of their office, I wonder what they are thinking now?" |
Top Producer of the year
