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Re: Re: Re: Re: Re: Re: Re: My buddy got a good screwin' at the JD dealer today
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Posted by The Dukester on December 10, 2002 at 18:29:32 from (65.89.18.161):
In Reply to: Re: Re: Re: Re: Re: Re: My buddy got a good screwin' at the JD dealer today posted by I'd suggest that you............. on December 09, 2002 at 17:47:14:
Funny, I read that book and it seemed to me that poor management from the top echelon caused IH's financial failure and eventual demise. Starting with John McCaffrey, the sales controlled and driven top management force had products marketed that did not get the necessary field testing and subsequent modifications required to maintain the standards of quality acceptable to their customer base. The company had a long history of being burdened with a substantial debt load which required a consistent high cash flow to keep payments current. Interest rates went high, sales suffered because of the questionable quality reputation and a poor ag economy in the early 1980's. This resulted in a serious cash shortage in the company resulting in more money being borrowed by the shortsighted, overly optimistic management team then in charge. The strike was terrible, but the coffin had been closed, the strike just drove in a few nails. The engineers and hourly workers didn't wreck IH, it was done at higher levels by people with a lot more authority and control.
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