Woods Eastland, the now retired CEO who led Staplcotn for a third of its 100-year history, stepped behind a microphone Tuesday afternoon to speak to a crowd at the Greenwood-based cotton marketing cooperative’s headquarters on Market Street.
The crowd had gathered to celebrate Staplcotn’s centennial anniversary. Gathered to listen were about 75 people, including Gov. Tate Reeves, Lt. Gov. Delbert Hosemann, and other speakers such as Mississippi Secretary of Agriculture and Commerce Andy Gipson, and 1st District Congressman Trent Kelly.
Eastland didn’t use the word “value,” but that was what circled throughout his commentary, and he wasn’t referring to money. Instead, he spoke about ideals and principles, and he reflected on the commitment to the co-op’s founders to provide for its members foremost and also its customers and business associates.
Eastland said Staplcotn’s longevity “has to do not so much with what Staplcotn does but why they do it.” He explained the legacy of 10 founders, led by Oscar Bledsoe Jr., who operated with a set of principles that formed an armature for the co-op when it was established in 1921 and remains in place today.
He quoted the U.S. Bureau of Labor Statistics, which measures business activity and productivity. “One out of 200 companies have lasted 100 years,” he said. That means, Eastland said, the 199 failed, and he addressed the question of why Staplcotn has survived and expects to do so for another 100 years.
First, he said, there has “always been a demand by producers for its services.” Also, it has had a set of founder-instilled principles. “I think these men were really idealists,” he said, and they were committed to creating trust between members and those marketing their cotton.
This required fair policies and practices, such as “every bale of the same quality would get the same price.” Also, members of the board of directors represented different communities throughout the Delta. This, he said, assured “people from their area that they were voting for their interests on the board.”
He also reflected on honest dealings with customers, such as mills, that kept them looking to Staplcotn as a supplier.
“These are the principles that have guided Staplcotn since its founding,” Eastland said.
Mike Sturdivant
Mike Sturdivant, board chairman, addressed the group, saying, “Staplcotn has not only survived but has excelled throughout its history.” He continued, “It is poised to do so for the next 100 years.”
Reeves noted that Mississippi’s cotton crop was devastated by the boll weevil when Staplcotn was marketing its first cotton in 1921.
Now, he said, Staplcotn’s revenues are “more than a billion dollars” yearly. “I believe Staplcotn is one of our state’s best financial success stories,” he said.
The Delta’s entire agricultural industry is essential to prosperity statewide, he noted. “As the Mississippi Delta succeeds, Mississippi succeeds,” he said.
Mississippi Secretary of Agriculture Andy Gipson speaks with Jan Sturdivant during Staplcotn’s 100th anniversary celebration on Tuesday. (By Susan Montgomery)
Gipson said his grandmother used to ask a question when he was growing up: “Son, is it going to matter in 100 years?” He said her query has made a lasting impression.
He noted that Mississippi is the third largest cotton producing state in the country. Staplcotn, which serves growers in 11 states, markets 2.5 million to 3.5 million bales annually.
“It’s a big deal for agriculture. It’s a big deal for Mississippi. It’s a big deal for America. It’s a big deal for the world,” Gipson said.
Dr. Jerryl Briggs, president of Mississippi Valley State University, and Frank Howell, executive director of the Delta Council, converse during the celebration, which was held upstairs at Staplcotn’s Market Street headquarters. (By Susan Montgomery)
Hank Reichle, Staplcotn’s CEO, served as a host among the celebrants and acted as an emcee for the presentation. Among those attending were Mississippi Valley State University President Dr. Jerryl Briggs, Greenwood Mayor Carolyn McAdams and Councilman Johnny Jennings, and Frank Howell, executive director of Delta Council.
- Contact Susan Montgomery at 581-7241 or smontgomery@gwcommonwealth.com.
