Re: IH Failure - tractor building business in gene

Posted by Guy Fay on November 01, 2003 at 19:05:59 from (169.207.193.227):

In Reply to: IH Failure - tractor building business in general posted by Steve - IN on November 01, 2003 at 11:03:58:

I guess I'd disagree on several points:

1. IH had just as many family members involved with the company up to the early 1980s as Deere did, including running the company at points. Fowler and Brooks were CEOs, other family members were on the board.

2. While Michigan Avenue may have been the big city, for much of IH's history the executives (up into the 1950s) had farms nearby- while most were gentlemen farmers, so were the Deere guys.

3. The hired guns held power at IH only from about 1978 on. Most of IH's executives started young with the company and moved up- maybe not part of the McCormick family, but definitly not outsiders. The IH white collar employees generally considered themselves part of a "IH" family.

4. Most of the diversification push wasn't hired guns- the guy who made the main push into trucks had started in the grain harvesting business at the age of 13, and switched to McCormick Harvesting Machine Company (it wasn't even IH) at the age of 18. Same gentleman was responsible for the development of refrigeration, although the push into that business (as well as contruction) was led by a sales vice president who had started selling farm equipment in 1913. THe first internal combustion experiments for Deering Company took place in the basement of the man who tested the very first binder twine. "Hired Guns" had nothing to do with the diversification.

5. CNH is not a pure ag play. Case of course has a large line of construction equipment, including a large market in loader backhoes. I believe that Fiatallis is also considered a part of CNH now as well. In fact, it's construction equipment that's been holding back profitability in the last couple reports I've seen.

Follow Ups:

• Re: Re: IH Failure - tractor building business in Steve - IN 11:36:55 11/02/03 (1)
  • Re: Re: Re: IH Failure - tractor building business Paul in Mich 06:24:45 11/03/03 (0)
• Re: Re: IH Failure - tractor building business in Hugh MacKay 03:37:25 11/02/03 (0)

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