Posted by showcrop on March 01, 2013 at 09:51:55 from (75.67.231.80):
I posted back in Jan about Deere pulling the plug on their fourth oldest dealer, RN Johnson in Walpole NH. There is a follow up in today's paper that they are shutting down completely. They couldn't get a different line because they have too much debt to be able to get the money to put up the new building that a manufacturer requires. Alan Johnson said that Deere is a symptom of the larger problem which is the terrible recession that the equipment business has been in for five years. I have the impression that mid west dealers are doing OK, but here in the North East the dairy farmers have it tough when what they get paid is set by conditions in the west and mid west. So it is hard on the dealers too. Alan Johnson mortgaged his home, spent his retirement, and cashed in his life insurance trying to stay afloat. He hopes that his auction of stock and JD museum will enable him to pay off his vendors. And now our economy is on the down hill slide again.
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