About the time everyone believes that something will "never" happen you better start planning for it.
In 1970 IH was one of the 5 largest corporations on earth. In 1980 they had "financial problems" but everyone (I remember reading this in several farm magazines) said they'd weather the storm like they had for the past hundred years. A few years later all that was left was the truck division.
All three of the domestic automakers have been having problems since the start of the decade. $4.00 a gallon gas has just about slammed the coffin door shut on them. If Chrysler hadn't been sold to Daimler in 1998 they wouldn't exist today. The Germans paid 38 BILLION for Chrysler in 1998, 10 years later Daimler paid Cerberus almost a half billion to take Chrysler off their hands. Since then Daimler making profits and Chrysler is losing money by the billions.
For all the talk about RESESSION the country isn't even close - unemployment is still 5% - near historic lows and the economony is still growing. If the big three can't make money now what will they do if we hit a couple years like we had in the 70s and early 80s?
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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.
... [Read Article]
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