In the wake of layoffs at John Deere, economics expert weighs in on state of agri-business
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- Опубликовано: 7 июл 2024
- An economic professor at Iowa State University said low commodity prices and rising interest rates are contributing to lower sales at John Deere.
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Over-priced equipment and over-paid CEO. What could possible go wrong?
Going woke is never a good idea.
Overpaid union employees?
What else could go wrong - well they just sponsored a multi -million dollar golf tournament last weekend. F*** John Deere.
Wait, didn’t the expert economist say it’s due to low commodity prices? I wonder where he shops?
Over paid high echelon morons! Unions,are here because of severe abuse by companies,and that is the only recourse,read the Jungle,by Upton Sinclair,that is why there are unions!Like it or not,they secure the middle clas!
Could it be that John Deere has been screwing over their customers for years, and now the farmer has much better options.
What are the better options? I'm not a farmer.
Laying people off yet still sponsoring a PGA tournament. What's that cost them?
The PGA has nothing to do with John Deere. This is all funded by the PGA tour! You got where you voted for so vote for Joey bag of donuts again if you want it to continue!
Boycott Woke John Deer
go to bed, dad.
Don’t neglect to mention five years of year-over-year product price increases. JD has price gouged its customers for years.
You reap what you sow!
JD is expensive . I wonder how a new one can be funded with crop prices .....
Back in 1980's and 1990's you could buy a red brand for 12000 or less than a John Deere. Price gouging not a surprise.
A new 250HP 8R is over a half million. Who is going to buy these at a rate fast enough to keep a factory open?
It's my fellow farmers that are keeping JD in business. As a farmer myself farming in 3 states, I do not own any JD tractors or any kind of major equipment from them, just a handful of diesel equipment and implements from decades ago when they are actually more affordable and better quality.
I'm sickened on how not just JD but other companies too have evolved against not just their own farmers but also the bottom of the line people and folks working for them. Sick on how greed can affect the innocent hard working folks.
Just stop buying JD stuff and I promise you they will change their style real fast.
I heard the most effective way to do the least and actually do something is vote with your money
JD has always been overpriced. But, they just shot themselves in the foot with their D.E.I. initiatives. I know a lot of farmers that are putting their green up for sale as of today due to their D.E.I.
Small farm bankruptcies skyrocket under trump. The trade war he started caused a sharp decline in Agriculture exports..... he also withdrew protections for small beef and pork producers. This greatly helped big business in contract negotiations.
Then the 25% tariff. Move production to mexico. Import all you want. No tariff. Cheap labor. Send the product to the US. No tariff bringing that into the US. Thanks nafta. And trump even lied and said he renegotiated it!
Trump helped more jobs to move to Mexico....
It’s not that there not making money, it’s that they wanna make more!
Bingo.
What's wrong with that?
Spent too much $$ on DEI & rainbow cult initiatives.
They made the ultimate dei investment. They moved to Mexico
Small farm bankruptcies skyrocket under trump. The trade war he started caused a sharp decline in Agriculture exports..... he also withdrew protections for small beef and pork producers. This greatly helped big business in contract negotiations.
Then the 25% tariff. Move production to mexico. Import all you want. No tariff. Cheap labor. Send the product to the US. No tariff bringing that into the US. Thanks nafta. And trump even lied and said he renegotiated it!
Trump helped more jobs to move to Mexico....
Exactly! Woke always goes broke!
@@frankgrabasse4642 and that's not DEI - that's corporate greed to increase profit (for the top executives)
@@andreward8268 AMEN - that is 100% accurate, the heck with what that relocation does to our country’s economy, stability and that of the USA working class. Top brass at DE are only concerned with increasing their personal aggrandizement.
Farm equipment is just too damn high
Union wages and Union benefits.
@@dannypowers49957 Billion dollar in profits? Who is losing? I get it your a Republican. You don't like unions. But c'mon, 7 billion in profits. That Greed.
@@dannypowers4995Yes ... let's return to working our people 12h a day 6 days a week for nothing with no safety.
The whole thing hangs on international wheeler-dealers who game the communities market. However, let's just blame the workers, it's easier.
@@henrivanbemmelObviously is in this case. What was one of the reasons moving to Mexico
@@GreggWalken-xd3qv Which should not be permitted. Nowhere near the same costs of living regulation all the rest. Outsourcing is not free trade it's treason IMHO. If the stuff is sold here, I think it should be made here. Even non-union minimum wage unskilled labour would lose out to out sourcing. Companies like JD were making money in the US, they just make more in Mexico. However, it just came to mind that on a few channels I've watched they say JD makes its combines in East Moline, IL if I remember correctly (my phone won't let me switch pages when writing comments ...)
$3 corn you can’t afford anything. Grain prices are the same that they were 20 years ago let that sink in.
Your a little behind on your numbers. Buy a new newspaper!
@@dmk1529 take a load of corn to the elevator and you will soon find out the newspaper is wrong. I know what I get for it, the newspapers do not.
Boycott John Deere!!!!
My exact thought👍.
record pay for management
Do you have the education and the responsibilities of management? of course not so you get paid what you’re worth you are an expendable asset and this is all about the economy and the regime in the White House that is destroying it! so you got what you voted for so vote again for Joey bag of donuts if you want it to continue and become a slave to the state!
Over priced. Not many pickups being sold either.
Cut CEO pay 100 percent and keep the workers.
You got what you’re voted for vote for Joey bag of donuts again if you wanna see it continue!
@@tristenklein5940derp,life awaits you , learn to read .
@@tristenklein5940You sound ignorant asf. Go wipe Trumps’s sh!t off your lips, @ss kissing Jethro.
@@tristenklein5940Grredy f*cking company made billions. Trump said he likes his people (you) dumb. Congratulations, Trump would be proud of your dumb @ss…oh, wait he doesn’t even like poor people. He finds you disgusting.
Vote Blue 🔵
When a company builds equipment they won’t allow the owners to repair, customers buy elsewhere! JD deserves to go under!
When you think you're invincible because your largest shareholder is bill gates
Can you prove that?
Indeed...... The whole world should boycott companies where Bill Gates is involved.........
John Deere has been less kind to their customers in recent years. They have consistently stood against the right to repair movement in an effort to push sales of brand new equipment, which most farmers can’t afford.
It sad made over $61 Billion dollars revenue 2023 but company bought stocks back$15 Billion dollars and over pay ceo last 2023 revenue who get layoffs workers image that.
They had increased stock price because the CEO took money back and bought stock to increase the value and impress investors…… they are in serious trouble. JD will do what IH did in the 80’s.
Grew up in a farming family that also owned a JD dealership. Have seen personally the way they have fuc*ed the small dealer trying to make a living.
Two store fronts wasn’t enough. Build one here-build one there…now 10 locations isn’t enough
It is becoming a monster not a company
Here in Argentina,only big network dealerships are allowed to stay green.
27 percent drop and everyone we deal with in agri- business want 10-15 percent increase! How can Agriculture continue when this is happening?
Agricultural is subsidized by the gubrrment , welfare for the rich .
Moving to Mexico doesn’t happen to help .
They turned 10million profit last year how much more you need u can't afford jd. They're to greedy
Ten billion with a B
No doubt looking for huge government handouts....again
When was that?
Our last 5 new mid-sized tractors, red and green, have been made in Europe.
Well Jeeps are made in Italy now, Levi’s made in Vietnam
7 billion dollars in profit in a SINGLE year..... and it's not enough..... this country needs a damned reset
Be careful what you wish for.
@@danw6014 I agree, people thought working from home would be terrific. What happened is skyrocketing home prices and restaurants and shop’s closing.
It's called capitalism. Make as much as you can while reducing your costs.
Good thing we have two ancient presidents and a corrupt government helping.
Don't believe that's all profit. How much of that was paid to the investors?
Did they just say at the end their profits will still be 7 Billion? Wtf
boycott john deere , moving there factories to mexico is un american, plus everything they sell is over priced and poor quality are my thoughts!
This is very concerning...just like '08...the second half is gonna get rough. Stellantis is gonna be cutting too.
I'm going to buy a disc mower but it sure as hell won't be a John Deere. All done buying Deere parts
The brand carries lots of hype but don't perform like the greenhorns claim. As a mechanic i wont even buy this brand i service all my own an will not buy any green
hope they go under
The ‘government’ will just take our tax dollars and bail them out...politicians looking for political donations call it ‘too big to fail’.
You got high hopes
As a John Deere salesman back in the early 2000's, I made a suggestion to the company of 2 things they needed to change on new mocos that were being introduced. They basically shrugged their shoulders and the following model year both of my suggestions were on the production models. I never got a thing for it, not even a "THANK YOU" !!!!
Which is very common in most organizations ...
Are your feelings hurt?
Are your feelings hurt?
Dear would screw anyone over, they screwed dealers over for years, which told me they could care less about their customers
You got a paycheck...
I just bought a new Kubota. JD 5075E was $5000 more for a tractor made in India.
What's wrong with India ?
Yes , really cheap labour countries , but the price to us doesn't reflect that . Cars and SUV are the same situation too .
Sorry to ask, but wich kubota did you buy and for how much?
@@parchechuletaovero9507 I bought an open station M7060w/ loader and 12 speed and heavier wheels. Open station with ballast in tires and a 2nd remote. Almost exactly$50k exactly. JD 5075 E was going to be @5000 more with no add options.
John Deere will have the same build quality and same reliability like Toyota moving things down to Mexico. But I bet the CEO and shareholder will get a big fat bonus and pay raises for doing this move.
Time to take away there taxcuts they received .
Heard a guy at the stockyard complaining they remotely disabled his tractor for missing a payment.
Not true
They don’t mention how much their bloody machines cost to buy. Stop all the bells and whistles and go back to practical.
Deere by name,dear by nature.
Ripping off farmers,who are struggling worldwide.
Here in NZ you can buy a Fendt,cheaper than you can buy a popping jonny.
I know which one i prefer !!!
And now on top of this we find out John Deere is Wokie and farmers aren’t Wokie. Check out what happened at Tractor Supply
why is a t-bone steak 17 dollars a pound
Unless people in the supply chains. Consultants, advertising people
Because our government stopped going after monopolies. The farmer isn't the one who is making the money in beef.
Mine is $6 a pound raised in my backyard
If John Deere moves to Mexico those combines better be selling for 300k at the highest now
The price won’t go down. Their profits will go up tho
The combines will still be made here. Pay attention
They build unrepairable tractors and charge dealer fees for diagnosis software and serialized parts activation. People are really getting disgusted with it.
They didn’t eliminate those positions they went to MX.
Farm equipment you are not allowed to repair yourself , overpriced
😂😂😂 Ha, Ha, John Deere fucked themselves !
2:14. Clip proves JD was laughing back. Notice the HA
Where is Deere getting the billions for their stock buy back program?Deere has already introduced some very big ticket items like 4 new S7 combines & 3 new 9RX tractors that range from 710-830hp that cost over 1 million dollars
They've just been green yanmars for years.
Deere being the market leader worldwide thought they had it made,the price rise of their equipment & astronomical cost of spare parts over the last 10 years,compared to other manufacturers is something else,or at least it is here in the UK. No wonder European manufacturers are making such inroads into the North American market
They will all be laid off or move to Mexico with their jobs
I don't buy plant and equip that require a tech to be flown in to replace a motherboard..
Tractors that don't need a farmer ,were made possible by farmers! All equipment will be that way soon enough. You can't stop it ,
Wait until autonomous tractors kill people on the road or changing implements.
It hurts my heart the beloved John Deere is declining.
The mechines are ro expensive, rhe crops don't pay, fertilizer high cost. I bet the CEO made millions. And company profits were high to. They are making a move over overseas. To make more profits.
The next thing we’ll see is laws being passed that outlaw older equipment, for “green” reasons. That’ll force farmers to walk away from their older machines and buy new ones. And when that doesn’t make economic sense they’ll be forced out of business and guess who’s waiting to scoop up their farmland. One of the biggest shareholders in JD. That’s how it works when you’re powerful enough to influence government and everyone below.
John deere is junk anyhow imo.. Let them sink i wouldn't spend 1 dime in that brand even b4 this. There lawn equipment is garbage
Every Biden voter needs to see this.
“Oh he’s done a great job as president!“ (sarcasm)
Only industry that has no control over revenue. Farming, that is.
Union demands will force all JD manufacturing to move to other countries.
I know right, I can’t tolerate people that expect to make a livable wage for their labor. They have some nerve.
@Scorpio1060- exactly, I have always wonder why the Unions do not just buy the companies they work for and set their pay whatever they think they deserve. GM for example should just sell itself to UAW.
The John Deere union should buy John Deere and take it private . Get all the profits and set their pay.
Exactly!
@@dannypowers4995 Labor unions don’t work for companies and don’t buy companies. They represent workers. Any time a company is having problems, the fault lies with upper management. They are the ones running the business.
Let’s be real, unions are part of the problem, not the whole problem. Management that is only profit focused and a$$hat board members like bill gates are the other problem.
Who did not see this coming? Every employer has a massive layoff after granting pay increases to offset the pinch to its bottom line.
Working hard at your job only to encounter "layoff". This throwing workers in the streets for profit must stop! This never use to happen. We need a large Layoff Tax. The CEO should be the first to go!
Check out their profits.
They are outsourcing to Mexico.
Just move every good paying union job to other countries . That will help economy
Nope but it will help JD shareholders and management.
I’ve heard of companies expanding into Mexico. But not just laying off and relocating. Wow 😡
I’m just a dumb farmer I could see the writing on the wall a few yrs ago smarten up boys or it’s going to a lot worse before it even thinks about get better
I guess equipment manufacturers don’t follow the grain markets. October corn starts with a 3 now. How many bushels of corn will it take to buy a $1,000,000 combine now?
Boats and RVS are next
Greed is destroying America.
Yet doesn’t affect the price of equipment
Is this part of the "build back better" idea Joe Biden was talking about when he was running for president in 2020?
The agricultural economy has always been a highly cyclical business. I am surprised it had stayed quite strong for as long as it did. A downturn comes as no surprise at all.
Wow maybe just maybe it’s the DEI policy that has been incorporated into the business. Yea go ahead and blame it on the crop prices. Wake up
But didn't 81 million ppl vote for this? 😂😂😂
You need determine how many were dead and buried when they voted
But I thought the "Union" would protect those jobs 🙄
They recently purchased the Wirtgen group. A german equipment manufacturer of paving , crushing, and milling equipment.
Yep ..
John Deer moving to Mexico lol.
But the economy is doing great according to the Democrats.
John Deere has fallen from poor mgmt and the woke movement. RIP.
I’ll never consider a J D product now
Well all for me and John Deere
As John Mellencamp sang “ Ain’t that America “
well at least they locked owners and private shops out of srrvicing their gear
Only the beginning. This paper economy is going to tank, just like the depression
According to Joe the economy is GREAT! Wounded if any of his policies have contributed to the layoffs…..
Maybe they shouldn’t spend so much money on sponsorship for a golf tournament
JD parts only on JD equipment....way high prices for their equipment too.
It's not John Deere.... it's Juan Deere.
Maybe move the White House to Mexico and call it Blanco Villa
Down 10% last year.....
...last year they had a $10,000,000,000 profit.
That 10 billion in case your wondering.
Profit, not sales but 10 billion in profit and they project 7 billion next year.
So they're saying 17 billion profit over 730 days isn't enough.
Well, something tells me their profit projections for next year are going to be surprisingly lower; I wonder why.
I have purchased my last John Deere product!
On top of it we just found out that Deere has gone fully woke with DEI. Apparently WQAD refuses to discuss that crap! Since 2 years old, I grew up on tractors and I'm done with that company. Deere made 100 last year, John C. May is the CEO. Boycott.
The CEO should buy a farm, pay retail for JD equipment and try to turn a profit. Eyes wide open.
How is that union contract working out for greedy workers? Y’all going to move to Mexico with your jobs?
Emerging marks are producing much more of their own food now. Hence the fall in commodity prices. John Deere can move to Mexico but Americans should look elsewhere for new equipment in the future.
The biggest lesson I learned in 2023 about the stock market is that nobody knows what will happen next, so practice some humility and low a strategy with a long-term edge.
Nobody knows anything; You need to create your process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@@mario-n8t True, initially I wasn't quite impressed with my gains, as opposed to my previous performances, I was doing so badly, that I figured I needed to diversify into better assets, I touched base with a portfolio advisor, and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
@@yuri-g5k Could you kindly elaborate on the advisor's background and qualifications?
@@mickeycinque “Victoria Carmen Santaella’’ is the licensed fiduciary I use. Just research the name. You’ll find the necessary details to work with a correspondence to set up an appointment.
@@yuri-g5k I just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.
Big steel tractor from old country is work horse.
We’ll drop your price in equipment and farmers can afford to upgrade equipment. Not fair on the farmers and workers of John deere.
People still buy deer junk? I stopped buying their garbage years ago!