Bailing out John Deere....WHAT!!!!!!!!!!!!!!!!!!!!!

colekicker · Dec 17, 2008

This is the biggest load of crap!!!! I am so frustrated with our government. They are all a bunch of idiots. This company has been making money all year and we are going to bail them out. You have got to be kidding me.
Read it for yourself.
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bD3A27392-4D05-4A3B-9C55-B61779719040%7d&siteid=yhoof2#comments

Bob · Dec 17, 2008

WHAT are oyu bitching about SURELY you own stock in DEERE, don't you? ;-)

onefarmer · Dec 17, 2008

I haven't had a job for about a year now. Not much in Mich. Send me some bailout money :shock:

buickanddeere · Dec 17, 2008

May as well get in line. They are giving it away to everybody.

Anonymous-0 · Dec 17, 2008

How much of a pay cut did the UAW workers at Deere have to take to make the deal go through?

None?

Thought so.

Anonymous-0 · Dec 17, 2008

how much of the 700 hundred billion is left? I haven't got my money yet.seriously how much is left or are they starting on the 2nd 700 billion?

Dave from MN · Dec 17, 2008

I have no chickens in the barn until 1/28/09. I need a bail out. Oh wait, i reduce my spending and still have cash flow when they are out, and can sell the calves, or the corn, or give myself a pay cut. Oh what the heck, I just want to keep what I have and slack for a month and a half, send me some money Nancy pelosi!!!!!

rustyfarmall · Dec 17, 2008

What? Mother Deere is going broke? You mean to tell me that John Deere is not infallible after all? Oh the shame of it all!!

rpirkle1 · Dec 17, 2008

Hmm... read it again... We didn't bail them out... FDIC simply backstopped the loan ... which basically says they co-signed for it. We don't bail Deere out unless they default on it... and if it's like most of the backstop deals... it's not 100%

hlc · Dec 17, 2008

I read the article and I don't take it that they are receiving bail out money. With recent failures such as Lehman and others institution and individuals are afraid to loan money or buy bonds as it once was. In order to get a cheap rate they obtained federal backing.

RobMD · Dec 17, 2008

bail out = bail bonds

BLinWMI · Dec 17, 2008

Did you bother reading the article you are bellyaching about? Deere didn't get any of the bailout money. It says it in plain english. They got operating loans from a bank, just like alot of industries do. The only difference is they were able to apply for a program that allows them to qualify for a reduced interest rate, and the loan is backed by the FDIC incase of default.
How in the world did you get anything about a bail out from that article?

Dave from MN · Dec 17, 2008

Wasnt Deere making record profits the last couple years, and their stock were soaring? I sure see alot of new green running around this area. Have the adapted GM's wasteful practices?

Eric SEI · Dec 17, 2008

Read your article.

It says Deere is borrowing at a reduced rate and that they are using this money to provide financing to people buying equipment. What that means is that farmers are able to get financing through John Deere instead of a bank that isn't lending money.

Wesley Stephens · Dec 17, 2008

I knew they couldn't be in too much trouble. They probably make more off of hats, t shirts and pink vanity plates than they do equipment.

kyplowboy · Dec 17, 2008

This morning on AG Day they said John Deere's sales of over 100 hp tractors were up last month 12% over a year ago. Total sales were up on 4X4 and large tractors were up over 20% on the year. I don't think they are hurt'n. Read some where last week the only down side for them is with the credit crunch they could not offer the real great finace'n they have been doing for the last few years. They still had alot of iron going out the door, it was just get'n paid for in cash or folks were find'n better deals on money from FCS or local main street banks insted of the the big banks JD was use'n for their finace'n. From the sound of the artical you posted, they were just take'n the cheap money so they could offer better finace'n to keep up with local banks and FCS.

Dave

colekicker · Dec 17, 2008

Sorry. Some people missed my point. I have a loan. I have a crappy interest rate. Govt. gives me a loan at a lower interest rate to help me out. Sounds like someone got help from the govt. instead of standing on their own two feet.

They should suck it up.

Spook · Dec 17, 2008

I am not a big Deere fan, but if they can't finance their customers, they will not sell equipment, not employ people, and we all will suffer. Auto companies are in the same boat, cannot finance auto sales.

bruster · Dec 18, 2008

No matter what manufacturing company it is, it all goes back to the finance industry. If the money can't be loaned, or credit issued, then operations are affected. Wall Street started this big wave, now we're riding the Tsunami, and I don't think it's hit land yet!

plow hand · Dec 18, 2008

Caterpillar is next !!!

Dennis in NC · Dec 18, 2008

i work for that store that everyone hates but can not stay away from . a lot of JD stuff this time of year, none made in the USA all CHINA

GeneMO · Dec 18, 2008

I didn't even bother to read the article. My son works for corporate John Deere in National Ag Sales. The sold 2 billion dollars worth of bonds recently to keep up with their cash flow, but that is normal operating proceedure. Their 2008 profits were 2.018 Billion. Their stuff is selling like hotcakes. He said they are in great shape.

Gene

Anonymous-0 · Dec 18, 2008

Companies like them need no help at all. If they can't make it too bad. How helpful was the recent farm bill for you? All us farmers & livestock producers are making that kind of money like JD too right? Wrong? If government and big corp execs would stop gouging us more for everything they could rake in more money we would have to spend but they don't see it that way because too blind sighted on greed for more $$. Ag companies, Big 3 auto and others would return to taking care of quality and their customers they wouldn't be hurting any at all. They don't live in the real world anymore just one lined with money and don't realize their customers been struggling for a while with poor commodity prices and then when prices come back get gouged out the wazoo on more expenses higher than history and expect their customers will be fine?

Alex.C · Dec 18, 2008

I wouldn't baile'm out I tell them to start makin tractors and not the over priced,under powered junk they make now.

Alex.C · Dec 18, 2008

That Is Defiantly not good.

Bailing out John Deere....WHAT!!!!!!!!!!!!!!!!!!!!!

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