Dealer Another Deere dealership pulled

[swines]

The dealership mentioned in the original post has picked up Massey Ferguson.

Wonder how long that will last. A local tractor dealer where I live was a Hesston dealer for 25 years before Agco bought Hesston. Serviced the entire middle and western sides of the state. He picked up MF as a supplement his other line of tractors and after 2 years with MF was selling about $1M in MF per year.

Agco took both dealerships away from him because he wasn't "selling enough" - nonwithstanding that the nearest Hesston dealer is 250 miles away to the east, and the nearest MF dealer even further...as he said, "Now I can't even get parts to service my longtime customers."

 

[AKfish]

By the way- can you really see Russia from Alaska????

Sorry I had to ask

Sure can... just ask the person who tried to sell America "beach front property" in Arizona...

I used to get bored in History class in high school. Now that I'm a fair bit older; I realize one of the more important aspects of history is that it affords all of us the possibility of not repeating past mistakes.

As well, it provides everyone the opportunity to recognize that many of the laws governing business and commerce are the result of past catastrophe's...

AKfish

 

[wallace]

I wouldn't count on it.

Deere has maintained more of itself than Case, IH, and Ford. Maybe it is because they do know how to make the hard decisions that are necessary to stay in business.

Then again, none of US here really knows.

I didn't like to see my dealer friend have to sell his dealership, and it seemed Deere was continually pulling his strings. Now it is one of about 8 dealerships, but has kept the same personnel and friendly service. I am glad the doors are not closed, and I hope some of my business there will help to keep them open.

Let's don't socialize our country, trying to get everyone on an "even" playing field. Competition is what is best for us.

Is that why Deere got over 2 billion in bail out money?
Do a search you'll find that info...
Just never made it to the publics eye like GM did!

 

[gamble77]

Rick JD didn't "need" the bailout money, they used that loan because of the low interest rate to restructure a few other outstanding notes they were using to expand several facilities. JD is VERY financiall sound, they are already sold out of 2010 combines & sprayers, the order bank for 8000 series tractors is out till October/November...so yeah lets not make it sound like they were "bailed out", just good business.

 

[Spudland_Dave]

Is that why Deere got over 2 billion in bail out money?
Do a search you'll find that info...
Just never made it to the publics eye like GM did!

Not exactly...what Deere got was 2 Billion bucks at a reduced interest rate to help finance its machines to people.
If they had not gotten the money, nothing would have happened to the company itself. Deere is on solid financial ground, Deere was just using better borrowing rates..

I dont see it any differently then you or I refinancing our homes when the interest is lower then what we had....They had loans at 5%, refi'ed at 3%...makes perfect sense to me....
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bD3A27392-4D05-4A3B-9C55-B61779719040%7d&siteid=yhoof2#comments

 

[MessickFarmEqu]

So why is the government picking winners and loosers in this? Why are we not offering the same to CNH? Where is Agcos' bailout? Apparently Deere has enough folks pulling strings in Washington to get their own earmarks. Just another testament to whats wrong with our companies and government.

 

[Oldgreenmachine]

I hope MF has a better reputation in farm equipment than it has in compacts. I have seen them apart and even the mechanics were not impressed. I suppose it all has to do with competition within the division.... and quality levels of parts suppliers.

I think MF has a great reputation in compacts,

 

[wallace]

Rick JD didn't "need" the bailout money, they used that loan because of the low interest rate to restructure a few other outstanding notes they were using to expand several facilities. JD is VERY financiall sound, they are already sold out of 2010 combines & sprayers, the order bank for 8000 series tractors is out till October/November...so yeah lets not make it sound like they were "bailed out", just good business.

Okay...I'll buy that but what I won't buy is the fact that they are out of product for 2010....Lets put some American workers back to work...It's called supply and demand....wait if they do that then that means they won't be able to get their asking price!

 

[Spudland_Dave]

So why is the government picking winners and loosers in this? Why are we not offering the same to CNH? Where is Agcos' bailout? Apparently Deere has enough folks pulling strings in Washington to get their own earmarks. Just another testament to whats wrong with our companies and government.

LOL, if we could figure out how the Gov. works, we'd all be better off
As for CNH, why should American taxpayers help out a foreign company? CNH = Fiat and Italy already MORE then helps Fiat...Heck the US Gov. greased the wheels of "progress" with the Chrysler sale to Fiat

As for Agco...did they ask? Were they eligible? I'm not a financial analyst so I couldnt honestly answer that...

Okay...I'll buy that but what I won't buy is the fact that they are out of product for 2010....Lets put some American workers back to work...It's called supply and demand....wait if they do that then that means they won't be able to get their asking price.

I am not buying the lack of 2010 stock either, I think thats an internet myth that just never seems to go away, I've heard the 2008 Lack of Product, 2009 Lack of product, and now the 2010 Lack of product story
A year or so ago that was partially true, it WAS hard to get a combine or planter in 2008/2009 for example, but delivery dates on orders for Combines & Planters are now being advanced many months...so I wouldnt say they are out of 2010 product...

 

[ccsial]

LOL, if we could figure out how the Gov. works, we'd all be better off

If you think logically you'll never figure out how the government works.