The key words here are earnings instead of losses. Of course this has an impact on stock prices and the ability to attract investors to keep the stock price up. Deere learned that diversity is the key to survival many decades ago when it got deep into financing, industrial lines, and consumer products. Deere can weather a down period for a while. I hate the consolidation on the dealer level but this no doubt allows them to better manage inventory and factory schedules. I hope I live long enough to see a time where big is not always better on the farm front and the equipment manufacturer front but I am not holding my breath on it. Some dealers are starting to note the consequences are big when a farm customer up and switches loyalties because the farms are so big when it comes to whole goods. I remember years ago some dealers preferred mid-sized farm customers and noted that there was safety in numbers. A neighborhood of 6 300 acre farms does not seriously impact business if one changes allegiances or sells out but one 1800 acre farm reduces things to an all or nothing situation for that neighborhood and that dealer territory.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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