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 - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
... [Read Article]
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