Agreed. The management of IH made the exact opposite decision in 1979 that it should have made. The former Xerox CEO thought all businesses were similar. When the strike happened in 1979 he should have slowly rebuilt the inventory instead he ran the plants at full bore building a massive backlog of inventory for what he thought was going to be a huge year in ag sales - instead the ag recession only deepened in 1980 and continued to deepen each succeeding year. The massive hit on their cash reserves nearly wiped them out as banks would readily extend credit - at 22%. Similar to the "2008" crisis, corporations that went into the crisis with cash or established credit (John Deere & Ford) weathered the storm, GM and Chrysler went into the "crisis" low on cash and it couldn't be borrowed - at any interest rate. Not having cash on hand to meet operating requirements they went into bankruptcy and government bailouts.
In 1984 you could still buy brand new 1980 equipment off most dealer's lots and they were desperate to sell it.
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Today's Featured Article - Uncle Cecil's Super A Lives Again - by Mike Purcell. A week or so out of most of my childhood summers was often spent with my Uncle Cecil and Aunt Sissie in the small East Texas town of Maydelle on their 80 acre farm. Some of my fondest memories of these visits are those of learning to drive a tractor at the helm of Uncle Cecil�s 1948 Farmall Super A. Uncle Cecil was the second owner of this wonderful little tractor, but it was almost as though he had adopted an infant. The original owner was a man from Minnesota who bought her from a local dea
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For sale Farmall super A tractor is complete and has just been setting for awhile,it was running when pulled out of the barn,shouldn’t take to much to get it going asking 1100.00
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