"Established" businesses can get upended by changing conditions in the industry. What probably hurt Central Tractor as much as anything was the notion that Walmart was going head to head with CT in some of their core product lines. Whether this was a real plan (not implemented) or just a rumor it set a chain of events in motion which made CT push harder than it should have into expansion mode. It should have been obvious that CT could never go head to head in terms of capital but when management thought that they were hearing footsteps they became very paranoid. The growth in locations came at a cost in terms of maintaining inventory. Also, early in the game CT resisted going public as the principles wanted to protect the potential stakes they had if their moves had paid off. Bringing in outside investment means sharing profits which some dislike. You might say it is all about the greater good but sometimes people can not see that.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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