# More on the Mike Stamps Saga



## Vol (Jul 5, 2009)

From AgNews.

Regards, Mike

http://www.agweb.com/article/stamp-farms-fallout-continues--NAA-ben-potter/


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## snowball (Feb 7, 2015)

he's got 3 very dumb loyal employees and wife , I guess it goes without saying "GO BIG Or GO HOME ! He should have headed for home


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## cornshucker (Aug 22, 2011)

When we look at the thread is Big Ag Sustainable I guess this is a good answer.


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## swmnhay (Jun 13, 2008)

The part that gets me is how the farm magazines brag these guys up when in fact they are just con men


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## JMT (Aug 10, 2013)

From the article looks like they tried to hide under $500,000 worth of assets (not counting the undisclosed value of grain stored in another elevator). Sounds bad, but that is less than 1% of the liabilities. The economics of scale are ridiculous in a operation like this.

What I wonder is what drives someone to invest that much money into agriculture? Is it pure greed? Personally if I had anywhere near the amount of assets that are in a operation like that, I would invest them somewhere less risky and take it easy with a small farm operation. What drives people to want more and be bigger to the point that they get over exposed?


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## slowzuki (Mar 8, 2011)

Local machine shop went bad in big way like this building pellet mills.


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## snowball (Feb 7, 2015)

I'am not sure what they think, I just dissolved a partnership with a guy that thinks like that , I guess they want the attention . My personal opinion is they have many other short comings in life and this is their way of compensating. JMO some day he will have to answer to a higher authority for he's doing's


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## PaMike (Dec 7, 2013)

Its one thing to be motivated and want to do well, but I think for many its an ego thing. They want to be known. They want to be able to walk into a store/ dealership and have a salesperson come running to help them....Its all about the ego...


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## mlappin (Jun 25, 2009)

PaMike said:


> Its one thing to be motivated and want to do well, but I think for many its an ego thing. They want to be known. They want to be able to walk into a store/ dealership and have a salesperson come running to help them....Its all about the ego...


yep, some just have to be the biggest turd in the bowl.


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## snowball (Feb 7, 2015)

I wounder how many farmers &young Farmer he has screwed out of the opportunity to farm? When he was trying to farm the whole state ? another thing I wounder how many dealers and salesmen forgot about their other customers. to kiss his dirty ...... ?


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## Tim/South (Dec 12, 2011)

I wonder how many farmers and investors saw what he was doing, saw the positive publicity he was getting, and decided to follow on whatever scale they could? Cash rents went through the roof, people expanded beyond their means, equipment companies upped production and puckered up to the big dogs.

Everyone of us can put a pencil to something and make it work. Looks good to the banker or Wall Street who have never had to put a shoulder into something to make it work.

Farming is like small business is to America. It is the small businesses and the middle class who carry the load.


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## Mike120 (May 4, 2009)

Unfortunately, I have seen this happen in lots of industries. A bunch of real smart folks get together, start a company and then proceed to try and build a BIG company before they build a PROFITABLE company. The common thread I have seen is that most of the people involved have always worked for big companies and do not know how to operate without lots of available expertise and resources. Starting up a new enterprise in that environment is totally different, than bootstrapping one on your own. I've always joked that big company experience looks good on your resume (CV) but can be your undoing if you ever stray into the world of small business and start-ups.....But, they are a hell of a lot more fun and exciting. You just work a lot more hours.

A lot of my generation was taught by our depression-era parents that success was getting a job with a big company and staying with it until you retired. That went to hell in the '80's when companies started dropping their retirement benefits and pushing 401K's. A lot of companies don't even hire employees anymore and the bulk of their workforce are contract workers with little "job security". That security was a myth anyway as employees were often viewed as liabilities by the corporations. Now they have a bunch of "free agents" who will not hesitate to leave for better opportunities and because of demographics, the opportunities will be there for people who invest in themselves and their value. Personally, I think the future looks a hell of a lot better than what I had and it will sure be different.


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## Bgriffin856 (Nov 13, 2013)

For some it can be an addiction


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