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Farmer’s Approach to “Full-Circle Farming” Takes New Meaning

November 19, 2012
By: Ben Potter, AgWeb.com Social Media and Innovation Editor google + 

Stamp Farms and Northstar Grain, which were featured on the cover of Top Producer’s November issue, face uncertainty moving forward, with new concerns that the approach to full-circle farming might not be working.

The staff at Top Producer learned Nov. 9 that audits have revealed some irregularities and big changes were occurring at Mike Stamp’s operations. Stamp was a 2012 Top Producer of the Year finalist and portrayed as a savvy Decatur, Mich., businessman who has been changing the local skyline.

The operation’s attorney, Michael S. McElwee, says that Northstar Grain and Stamp Farms are both under new management. The attorney says Stamp is in full cooperation with the new leadership, lenders, the Michigan Farm Produce Insurance Authority and others involved in the situation.

The Top Producer staff has been in contact with Stamp’s attorney and as of Nov. 19, McElwee says Stamp has not been arrested, despite online rumors.

To-date, harvest and operations at both entities continue as scheduled. The situation has been highlighted in the Top of Mind column of the December issue, which should arrive in mailboxes at the end of the month. Top Producer will continue to follow the story as the dust settles – with an eye on what can be learned from the situation.

Read the article about Stamp, Full-Circle Farming


 

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RELATED TOPICS: Top Producer

 
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COMMENTS (7 Comments)

Skibum4106 - Vicksburg, MI
It's amazing That one Big time Farmer who could not pay his bills do to his reckless spending, lost pretty much everything to another Big Time Farmer who so far seems to be able to pay his Bills.
The Farmers that Stamp put a big hurt on by spending millions of borrowed dollars gained nothing here.
Dennis Boersen Farms had the option to pick up all of Stamps rented land that had leases that were not expired. Why would Boersen make good on some or most of Stamps $6 million in back due rent? Wells Fargo turned over all of the pivots on leased land to Boersen. So it appears that Boersen will come out very well on this Deal. Boersen was the only Stalking Horse Bidder, he the was only player big enough to bid 22.8 Million on Stamps Equipment.
8:07 AM Jun 1st
 
flipped56 - Sioux Falls, SD
If he is bankrupt then he should not be able to retain all the rental land he snatched away from financially legitimate farmers. The land should be rented back to those who are financially responsible and don't rely on bankruptcy to get out of paying off debt. This man does not deserve any sort recognition for what he has done. A top producer also pays his bills. All he did was get bigger than he could financially handle or manage. Anyone who has no sense of responsibility can do that. All he did was run a lot of farm folks out of the business under false and failed economic model.
6:39 PM Dec 27th
 
Dennis - MN
I don't think you did your homework very well, Maybe he was expecting a big writeoff like some did in the 80"s. here we go again.
6:12 PM Dec 5th
 
weld
you going to talk to farmers who were out bid by stamp and now he doesn't farm? Why do magazines like your's a think that a top producer is nothing but a large acre farmer? This guy cared nothing for anyone but himself.
11:31 AM Nov 22nd
 
PotterB - Columbia, MO
We don't mind hearing what people think of Top Producer, even when it's critical. As of now, we are sorting out the facts from the allegations. Expect updates in upcoming issues of the magazine and online as we learn more.
2:10 PM Nov 21st
 
weld
what did you not want to read what people think of Top Producer?
1:44 PM Nov 21st
 
weld
you people don't give a Dam about all the damage stamp did to farmers in 6 counties. You should care more about your fellow farmers then this guy!
8:52 PM Nov 20th
 



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