NAEDA Newsletter
Wednesday, November 26, 2014 Helping Dealers Succeed!
NAEDA NEWS ALERT
Contact Congress NOW - Dealer Action Requested

As Congress returns to Washington for their lame duck session, we are asking dealers to take the time to contact their Representatives and Senators and or their staffs concerning our top priorities for the lame duck session. These same priorities will also be used for the start of the 2015 Congress.

If you have their telephone numbers and or email addresses, please make those calls or emails as soon as you can. The message is simple, just ask for them to support our top priorities as shown below:

Tax Reform

  • Make permanent the bonus depreciation and Section 179 provisions.
  • Change the farm and ranch equipment assigned class life to five years for depreciation purposes.
  • Maintain Last-In, First-Out (LIFO) accounting method.

Regulatory Reform

  • NAEDA supports regulatory reform by Congress that would restore checks and balances to the regulatory process and increased public participation in the rulemaking process.

Trade

  • With several trade deals being negotiated, NAEDA supports passage of the Bipartisan Congressional Trade Priorities Act of 2014 (H.R. 3830) that will give the White House new fast-track authority (Trade Promotion Authority).

Transportation Funding

  • NAEDA supports passage of a permanent funding mechanism for transportation infrastructure upgrades needed to ensure America’s competitive advantages.

If you don’t have telephone numbers or email addresses, please visit https://www.congress.gov/ where you can select your state and locate your representative and two senators information. A contact by you, your family and or key employees to these three people can make a huge difference in the lame duck session and the start of a new Congress. NOW IS THE TIME.

Should you have any questions, please feel free to contact Michael Williams at 636-349-6204 or by email at williamsm@naeda.com.

 
Industry & Manufacturing News
John Deere - Augusta facility produces one millionth tractor

John Deere has marked a manufacturing milestone with the completion of the one millionth tractor built at the John Deere - Augusta factory in Grovetown, GA. The millionth unit, a 5100M model, was recently on display at a commemorative ceremony at the local fairgrounds.

"Producing one million tractors is a significant milestone for John Deere and for the whole Augusta team," says Mary Pat Tubb, Factory Manager, John Deere - Augusta. "We are proud of the legacy we've built as a company, and of the goal we've had here in Augusta since we started: To design and build tractors for our customers that deliver the quality and value they've come to expect from John Deere."

In 1990, the factory produced its first unit – a 55 Series Compact Utility Tractor. Today, John Deere - Augusta produces 27 models of compact utility tractors and utility tractors that are distributed throughout North America, and exported to more than 40 other countries.

Read more...
Source: OEM Off Highway

 
Ag Bankers prepare for tough times

It was standing room only at the American Bankers Association National Agricultural Bankers conference here on Sunday to hear professor emeritus and ag banking consultant David Kohl. More than 750 attendees (the most in the past 15 years) from 27 states are registered for the three-day conference.

Bankers are worried about the drop in farm profits and the repayment capacity of their borrowers. Kohl observed what makes this downturn different:

Read more...
Source: DTN Progressive Farmer

 
AEM elects 2015 officers, new directors

The Association of Equipment Manufacturers (AEM) announces its newly-elected 2015 officers, as well as directors elected at its recent annual meeting to the AEM Board of Directors and AG and CE Sector Boards.

AEM Officers for 2015 are:

  • Chair John Patterson, Chairman JCB USA Group and Director JCB Group, JCB Inc.
  • Vice Chair Leif Magnusson, President, CLAAS of America
  • Treasurer Göran Lindgren, President Sales Region Americas, Volvo Construction Equipment
  • AG Chair James Walker, Vice President Case IH NAFTA, CNH Industrial
  • CE Chair Michael Haberman, President, Gradall Industries Inc. 
  • Secretary Dennis Slater, AEM’s full-time President

Read more...
Source: AEM

 
Farm Equipment Manufacturers Association elects three new directors

Saint Louis, Missouri—November 11, 2014 During the 64th Annual Fall Convention, November 3-7, in Las
Vegas, NV, the Farm Equipment Manufacturers Association added three new directors to its board.

Michael Irish is Landoll Corporation’s Brillion Brand Manager in Brillion, WI. Mr. Irish has held this position
for the past four years. He was the General Manager of Brillion Farm Equipment before Landoll Corp. purchased
it in 2010. The company, whose headquarters are in Marysville, KS, has been a member of the Association
since 1972. It provides such services as contract manufacturing and machining and produces a wide variety
of farming products and implements.

Matt Westendorf is COO at Westendorf Manufacturing Co., an Onawa, IA-based company that produces a
wide range of parts and equipment for the farming and construction industries. He has held that position since
2006, and worked in every department at the company’s plant. Westendorf has been an Association member
since 1977. The company produces front-end loaders, landscrapers, dump spreaders, wagons, trailers and heavy
machinery attachments.

Janea Danuser has served as Vice President at Danuser for nine years. She and her brother Glenn also are
fourth-generation co-owners and co-operators at the company, which has been an Association member since
1951. Headquartered in Fulton, MO, Danuser manufactures several lines of agricultural and industrial attachments
and parts. It also produces ball joints and various linkage parts for original equipment manufacturers.

During the annual Fall Convention, the Association also elected the following officers: President, Mike Kloster,
Worksaver Inc.; 1st Vice President, Ric Kirby, Kirby Manufacturing; 2nd Vice President, Paul Jeffrey, MacDon
Inc.; Treasurer, Robert Atkinson, W & A Manufacturing Company; and Secretary, Stanley McFarlane, McFarlane
Manufacturing Co. Outgoing President Marc McConnell, Art’s Way Manufacturing Co., will serve as an
Ex Officio member of the Executive Committee.

The Farm Equipment Manufacturers Association is an international not-for-profit trade organization representing
338 manufacturers of specialized farm equipment, 345 industry supplier companies and 43 marketing firms.
Founded in 1950, the Association is headquartered at 1000 Executive Parkway, Suite 100, St. Louis, Missouri.
For more information about the Association, please visit FarmEquip.org.

 

Legislative & Regulatory News
Tax break negotiations stall on Capitol Hill

Neither Republicans nor Democrats are quite ready to budge in negotiations over a slew of expired tax breaks, lawmakers and aides said last week.

Both sides want to wrap up talks soon over the so-called tax extenders, the dozens of expired tax breaks whose restoration has lately become something of a Christmas time tradition every two years.

But with almost three weeks left before lawmakers want to break for the year, House GOP tax writers are still pushing to get as many business-friendly incentives – like those for research and expensing – extended without an expiration date, as they can.

If a deal between the two chambers can’t be reached, House Republicans are saying the best they might be able to do is extend tax breaks that expired at the end of 2013 only through the end of this year. That would force lawmakers to grapple with the preferences again in 2015, when Republicans will have both control of the Senate and a bigger majority in the House.

Read more...
Source: The Hill

 
EPA chief surprised by resistance to water rule

Environmental Protection Agency (EPA) head Gina McCarthy said she was surprised by the way that opponents attacked her agency’s attempt to redefine its jurisdiction over waterways.

In a rule released in March, the EPA proposed a new way to determine whether or not something like a stream or pond is covered under the federal Clean Water Act.

“I wasn’t surprised by the backlash. I was surprised by the focus of it,” McCarthy said Monday.
She went on to explain that what shocked her the most were charges that the EPA did not do sufficient outreach to businesses, landowners and others before putting out the March rule.

Officials previously put out a “guidance” document to try to clarify the EPA’s jurisdiction after a pair of Supreme Court cases made it unclear.

Read more...
Source: The Hill

 
Ag Pushes Tax Extenders Bill

Groom, Texas, farmer Mike Friemel said he knows he took a risk in buying six new tractors for his Texas Panhandle farm that produces corn, cotton, wheat and milo. He told reporters Tuesday, however, it was an investment he had to make -- even with the future of an important tax provision in question.

A wide range of agriculture groups, industries and other interests began a full-court press Tuesday, calling on the lame-duck Congress to pass a tax-extenders package to include a critical Section 179 deduction for business equipment, including farm machinery, and to re-instate a 50% bonus depreciation credit on the purchase of new capital assets, including agriculture equipment, that expired at the end of 2013.

Friemel said the credit is needed to jumpstart an ag economy that has suffered recently from falling corn prices.

"We had to make a large equipment investment," he said. "I need it retroactive. If not, I will not be making new investments. I know a number of my neighbors have put investments on hold." Decisions are made, he said, based on how quickly equipment purchases can be expensed so as to maintain cash flow.

Sen. Charles Grassley, R-Iowa, said Tuesday he's unsure when a tax-extenders bill may come up for a vote. During a call with agriculture reporters, he said, "All I can report is that negotiations are still going on."

Read more...
Source: DTN Progressive Farmer


 
GOP Picks Conaway as House Ag Chairman

WASHINGTON (DTN) -- The House Republican Steering Committee on Tuesday selected Rep. Michael Conaway, R-Texas, as the chairman of the House Agriculture Committee in the next Congress.

"I am humbled and honored to be selected as the 50th chairman of the storied House Committee on Agriculture," Conaway said in a news release.

"The work that farmers and ranchers do is part of our country's foundation. They feed, fuel, and clothe our nation. I look forward to building on the bipartisan work of the chairmen who have led this committee for the past two centuries."

"I represent, and love, rural America. It's the backbone of our country," he added. "The values and concepts that make America great are stored in rural America, and I want to protect that. There are fewer and fewer voices representing rural America, and I am honored to be one of those voices. That is my overarching drive as the committee moves forward."

Read more...
Source: DTN Progressive Farmer

 
Notice of Delay in Issuing 2014 Standards for the Renewable Fuel Standard Program

EPA is announcing that the Agency will not be finalizing 2014 applicable percentage standards under the Renewable Fuel Standard (RFS) program before the end of 2014.

Read more...
Source: EPA

 
Biz groups brace for deluge of regulations

Business groups are bracing for an onslaught of regulations, with the Obama administration bent on completing a host of the presidentÂ’s unfinished policy goals and the midterm elections now in the rearview mirror. 

Agencies across federal government are expected to drop a host of major rules over the next few months, with regulations running the gamut from calorie label requirements on restaurant menus to new rules for hydraulic fracturing and air pollution. 

Read more...
Source: The Hill

 

NAEDA Update Official Sponsor
Canadian News
Canada leading agriculture exporter, report

Canada is the world’s top agricultural trader compared to all other countries on a per capita basis, according to Farm Credit Canada’s (FCC) annual report on global trade.

Read more...
Source: Leader Post

 
Canadian governments need to fight growing income inequality, study warns

Canadian policy makers will have to consciously “lean against” income inequality to avert following the United States down the path of widening disparities, a bank study to be released Monday says.

Read more...
Source: The Globe and Mail

 
Tories capture both federal byelections, including key Whitby-Oshawa race

Prime Minister Stephen Harper's Conservatives have narrowly retained the late Jim Flaherty's suburban Toronto seat and easily hung on to another riding in their Alberta stronghold.

Read more...
Source: Huffington Post

 
Prairie agriculture industry faces a growing shortage of good help

There was a time on Prairie farms when having large families was about more than long, cold winters, no television and abstinence as the only reliable form of birth control. Children have historically been an important source of labour on the farm, enlisted from an early age to help out with the multiple tasks that went into day-to-day operations. And when those kids grew up, those who left the farm often went on to fill jobs in the agricultural service sector, working in grain-handling and marketing, financial services, meat processing, or in fertilizer, herbicide or livestock supply.

Read more...
Source: Winnipeg Free Press

 
Statistics Canada Study: Agriculture in Canada

Canada has more than 50.5 million hectares of agricultural land classified as dependable agricultural land—areas deemed suitable for long-term cultivation. From 2001 to 2011, farm area located on dependable agricultural land declined by 969 802 hectares (-2.6%), according to "Agriculture in Canada," a new study in Human Activity and the Environment.

Read more...
Source: Northumberland View

 
Bill C-18 has captivated agricultural organizations n International Year of the Family Farm

The introduction of the omnibus Bill C-18 by the Stephen Harper government raised the level of debate to a clamour. As with all omnibus bills brought in by this government, its amendments to already existing acts carried a number of political and ideological flashpoints with a variety of organizations.

Read more...
Source: Brantford Expositor

 
COOL regulations face uncertain future south of border

Package labels on fresh cuts of meat that identify where animals were born, raised and slaughtered face an uncertain future after successful trade challenges from Canada and Mexico. Agriculture secretary Tom Vilsack said the United States is running out of options for the meat labels, which are required under a 2008 law.

Read more...
Source: Canadian Manufacturing

 
PM Harper unveils $5.8B in spending for infrastructure

Prime Minister Stephen Harper announced a $5.8-billion menu of federal infrastructure improvements.  The funding, Harper said, would go to projects expected to create jobs and deliver quick results, most of it over the next three years. The bulk of the spending—$2.8 billion—would go to improvements to historic sites, national parks and national marine conservation areas.

Read more...
Source: Canadian Manufacturing

 

NAEDA, Association & Program Partner News
October’s wild volatility mellows into November upswing

The robust NAEDA Stock Index surged 71.08 points, or 7.15 percent, and closed at 1065.09. Advancing issues flew past declining issues at an 18-to-3 count.

Investors who survived the wild ride of October were rewarded with steady improvement in the first half of November. As our trading session ended Nov. 14, 2014, an unexpected move by the Bank of Japan (BoJ) to increase its stimulus program sent an impulsive market to new highs.  The University of Michigan’s consumer sentiment index improved to a level not seen since July 2007 as it moved to 86.9, from 84.6. Homebuilders got a boost after D.R. Horton posted stronger quarterly revenue than expected, with orders up 38 percent, hinting at increased demand. “We’re making new highs, volatility is low and that suggests investors are complacent enough to buy stocks at those highs,” said John Kosar, director of research with Asbury Research in Chicago. “Interest rates are still low, oil prices are low and everything looks conducive to more strength between now and the end of the year.”

Tractor Supply posted a robust third quarter report, with an 18.3 percent increase in net income, to $76.6 million, or $0.55 per share, versus net income of $64.8 million, or $0.46 per share in the year-ago quarter. Sales were up 12.6 percent, to $1.36 billion. Investment firm Raymond James upgraded TSCO to “strong buy” from “market perform,” with a price target of $78. Analysts cited expanding market share and double-digit revenue gains. TSCO soared 17.29 points, or 30.03 percent, and was the top dollar and percentage gainer. TSCO closed at 74.86.

AGCO slipped 0.59 points, or 1.32 percent. Third quarter net income was $0.69 per share; excluding one-time items, net income was $0.69 per share, compared to adjusted net income of $1.27 in the comparable year-ago quarter. Net sales were off about 13 percent, to $2.2 billion, from last year’s $2.5 billion. AGCO ended at 44.18, and was the top dollar loser.

Cummins also beat for its third quarter, and shares rose 16.60 points, or 12.92 percent. Cummins earned net income of $423 million, or $2.32 per share, from $355 million, or $1.90 in the same quarter last year. Revenue was $4.89 billion. Analysts polled by Zack’s expected earnings of $2.28 per share and revenue of $4.71 billion. The company cited strong sales in China, Europe and North America. CMI closed at 145.06.

 
Resolving Disputed Credit Card Transactions

Most of the time transactions move smoothly through the system, and are processed with few problems. Occasionally you will be required to provide additional information about a transaction in order to resolve a dispute. The card associations have procedures in place to facilitate the timely resolution of disputes. Your part in this process is very important.

Basically there are 2 items that will signal a cardholder dispute:

1.  Retrieval Request

2.  Chargeback

A retrieval request is simply a request from the bankcard processor to a merchant for information and documentation related to a specific credit card transaction.

This information is requested to be supplied within a specified time.  The merchant’s compliance with a retrieval request is critical.  When a request goes unanswered a fee is levied against the merchant by the bankcard processor.  The next action is that of the cardholder to then charge the transaction back if no supporting documentation of proof of the transaction is provided.

A chargeback is the dispute of a credit card transaction that appears on a cardholder’s month end credit card statement.  If the cardholder does not recognize the charge they will normally contact the issuing back of their credit card and request that the charge be reversed or charged back to the merchant.  Not all chargebacks mean a lost sale however. If the merchant is able to provide supporting information such as a signed transaction receipt, the information is heavily scrutinized by Visa®/MasterCard® in considering the best remedy for the situation. 

Merchants are notified of a chargeback by their credit card processor.  The processor receives notification of a chargeback or retrieval request from the issuing bank of the credit card.  When the chargeback information & documentation are prepared and ready to be mailed or faxed a merchant is directed to send it to their credit card processor.  The processor’s chargeback department will then send this information to Visa or MasterCard for a resolution.  A decision is generally sent back to the processor within 30 days.  The processor will then notify the merchant.

In the event that a chargeback dispute is decided upon by Visa/MasterCard in favor of the merchant, the merchant will receive the funds back for that transaction however the fees associated with the administration of the chargeback are not refunded typically.

Good communication with your customers can help avoid chargebacks.  Along with informing customers of any changes or delays related to a sale.  When issuing credits, do so promptly and always be clear about the return and exchange policy.

By keeping accurate records and following established procedures by Visa and MasterCard merchants can minimize exposure to retrievals & chargebacks.

 

For more information concerning Interchange and the NAEDA endorsed credit card processing program, contact Danielle Gibson 800-546-1831 ext. 5434 or Danielle.Gibson@elavon.com.


 
Consider a contribution to NAEDA's Equipment Dealers Foundation

NAEDA’s Equipment Dealers Foundation (EDF) was created to provide grants to meet the industry’s need for training resources, career advancements and scholarships.  Through the years, the EDF has expanded its efforts to help dealership employees affected by natural disasters.  Moving forward, your support is needed for research, grants and scholarships to continue to enhance our industry.

When faced with a disaster, the EDF has been able to step in and help.  The EDF has financially aided a number of dealers and dealer employees, thanks to the generous support of dealers, manufacturers, suppliers and affiliated associations.

The purpose is not to replace insurance coverage or the entire business economics; rather, the efforts through “bridge grants” of up to $2,500 help put food on the table, replace toothbrushes and toothpaste, put gas in the vehicle and generally help individuals get their everyday routine back as quickly as possible.  To date, the EDF has provided more than $200,000 to assist disaster victims.

In 2012 and 2013, EDF has offered a matching scholarship program in conjunction with dealers and affiliate associations, with the goal of helping dealers train the next generation of employees.  These scholarships, coupled with the other matching grants of the sponsoring dealer and affiliate associations, were used to help students interested in the equipment industry attend schools and receive training so they can be a part of our industry after graduation.  To date, 145 matching scholarships have been awarded to students.

Now is where you can help.  In order for EDF to assist when disaster strikes again—and it will—and to help do research and provide important industry data and education, and provide scholarships to students excited about our industry, we need your continued support.  Please consider a generous donation to the NAEDA EDF as we close out the year.
  
Please visit our website at  https://www.naeda.com/SupportEDF/EDFFoundationOnlinePayment.aspx to contribute online.

Thank you.

 
Tip of the Month

KPA Tip

Tip of the Month:  The Holidays are Coming; is your HR Team Prepared?

The holidays are a time of appreciation, completion, and celebration at your dealership. However as an employer or HR representative, there are still some important aspects to be considered in an effort to avoid liability. Innocuous things such as decorations, parties, and individual accommodations are just some of the things you should consider for you holiday season to go off without a hitch.

When contemplating decorations, consider the variety of beliefs that you may house at your dealership. As an employer, you cannot unintentionally treat employees with diverse religious beliefs differently. That being said, remember to be cautious with your decorations. While holiday decorations are permitted in the work place, all individuals and their respective religions must be considered when decorating. The EEOC has noted that the US Supreme Court has determined that wreaths and Christmas trees are secular items, i.e., they do not have religious or spiritual basis. The best practice for your dealership is to be sensitive to your employees and to avoid showing preference or support to one religion over another. So, if you put up a tree, be mindful that you may want to include a menorah and recognize Kwanza, or just keep things simple with an easy winter theme.

The end of the year and holiday season is often celebrated with a company party. But Holiday parties create risk for your dealership as well if they aren’t properly conducted. When planning your holiday party, avoid religious undertones. Be certain to note that employee attendance is voluntary, or you may be responsible for paying for your employee’s time while they’re at the party. If any problems do arise from your Holiday party, make every attempt to address them immediately. A consistent and efficient response to issues that may arise is important in terms of documentation when considering liability.

According to the Civil Rights Act, employers must reasonably accommodate employees’ religious observances, practices, and beliefs as long as it does not cause any undue hardship for the company. This doesn’t just apply to highly common holiday dates. An employee’s religious beliefs do not have to be part of a large religious faith to be recognized. When denying an employee’s religious accommodations, it must be due to the fact (and be very clear) that the accommodation requires unusual administrative costs, diminishes efficiency to other employee’s jobs, or infringes upon other employees’ job rights or benefits.

Want to learn more about holiday preparation? Contact hrm@kpaonline.com for more information.

 

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From the NAEDA Office
The Current Drop In Farm Equipment Sales
NAEDA responds to AEM Advisor News.

In the Oct. 13 issue of AEM’s Advisor News, Charlie O’Brien, AEM senior vice president and ag sector lead, discussed “10 reasons not to panic about the current drop in farm equipment sales.” While I do agree with many of his observations and reasons, I feel a need to respond from the dealer’s point of view.

      First, let’s take a look at what Charlie had to say in his article:

      If you saw the latest AEM Flash report, the numbers for August sales don’t look very pretty with a lot of negative signs. One hundred horsepower tractors were down 11% for August compared to last August. Four-wheel-drive tractors were down 37% and combines were down 28%. Those are big drops for that specific month. Fortunately, the beginning of the year sales were still strong so overall the year to date figures are showing decreases but certainly not in the 30% range. Should we be panicking right now? Probably not and here are my 10 reasons why:

1. The underlying fundamentals are still strong in agriculture. People need to eat and there are about 200,000 more people every day that need to eat. We are in the food business so our sector is stable with the need for productive equipment to plant and harvest food with increased productivity to meet the food demand. We will continue to sell equipment to help meet the food needs of society.

2. Today, farmers still have very strong balance sheets resulting from strong commodity prices that brought benefits to the bottom line. The farm sector’s debt-to-asset and debt-to-equity ratios are forecast to remain essentially flat at 10.8 and 12.1%, respectively. Both ratios remain near their post-1970 historical lows as reported by the USDA. Farmers have the capacity to buy equipment that adds value to their farming operation.

3. We have been selling equipment at a very high level the past several years. Even with the existing drops in units sold we are still in one of the top 10 years for equipment sales.

4. The need for productivity gains to meet the food demand is never-ending. The need to continue down the path of new innovation that brings together the storms of precision agriculture and the use of data coming off the equipment is immense. New innovation and new equipment will be part of the solution for agriculture.

5. We all understand we work in a cyclical business with a variety of variables not the least being weather. We enjoy strong yields this year which is building stocks. We don’t know what another year will bring but we can bet on one thing. It will be different and may tip the cycle back in our direction.

6. Data is king. Innovation is driving the production of more and more data. Billions of data points are being gathered from new equipment. The appetite for new data and new equipment will not end. In fact, we are at the dawn of this new age, which will continue to drive new equipment sales.

7. Through close monitoring of the situation, we are optimistic that the Section 179 deduction and bonus depreciation will be reinstated providing farmers the incentive to purchase new equipment.

8. There is extremely limited land available to put into production in the U.S. The only way to increase yields is by increased productivity. Consequently, part of the solution is new, more innovative equipment to continue to push productivity on its persistent upward track.

9. The current surplus of used equipment will be pushed through the distribution channel over the next year returning dealer inventories to manageable levels and stabilizing the purchase cycle for new and used equipment.

10. The U.S. continues to be the most productive agricultural country in the world. The world is counting on us to help meet the ever increasing food demands of a booming population, and we will deliver. We always have. And equipment always has been and continues to be a vital part of the equation.

 

     My initial response to Charlie’s reasons for not panicking can best be described as valid if your focus is on selling new equipment. However, reducing the inventory of used equipment will bring the most pressure to dealers—not the selling of new equipment.

      Farmers (our customers) have the capacity to buy new equipment, but they do not have the immediate need. The vast majority have units that are 2 years old or less with lots of productivity left in them. If manufacturers implement programs and incentives to drive the sale of new equipment, it will exacerbate an already untenable situation. The market and dealer lots are saturated with used equipment that in many cases is overvalued and unwanted.

      Most often, when a dealer sells a new piece of equipment, the transaction includes a trade-in unit, which increases a dealer’s used inventory. Currently, this inventory is not moving through normal distribution channels. Additional issues like Tier 4 compliance will make much of the late-model used inventory unusable in many countries because of fuel issues. Therefore, we cannot count on world demand to absorb used inventory.

      For a dealer not to panic about the current drop in farm equipment sales, they must properly value a unit at trade-in. Overvaluing a used piece of equipment in order to make a sale and maintain market share places the dealership in a challenging financial position that is not sustainable. During the past several months, the NAEDA Industry Relations Task Force met and discussed this very issue with many manufacturers around the country. With no exceptions, the manufacturers recognized the need to work with their dealers to address the growing inventory of used equipment.

      Dealers and manufacturers working together to address the drop in farm equipment sales truly is a reason not to panic.

      As always, your ideas, issues and suggestions are welcome, so please feel free to contact me a lawhunr@naeda.com or 636-349-6221.

Thank you for being a valued member of NAEDA.


RICHARD “Rick” LAWHUN is president/CEO of North American Equipment Dealers Association (NAEDA). The association provides educational, legal, legislative and financial services to approximately 5,500 retail agricultural, construction, large property/rural lifestyle and outdoor power equipment dealers in the United States and Canada. Rick can be contacted at 636-349-6221 or via e-mail at lawhunr@naeda.com.

To read this article in full, click here

 

 

About NAEDA Update

North American Equipment
Dealers Association

1195 Smizer Mill Road
Fenton, MO  63026-3480
Phone: 636/349-5000 
Fax:  636/349-5443
www.naeda.com
E-mail:  naeda@naeda.com

NAEDA Update is provided as a service to members of the North American Equipment Dealers Association. This information may not be reprinted without permission from NAEDA.

The North American Equipment Dealers Association provides educational, legal, legislative, and financial services to approximately 5,000 retail agricultural, construction, large property/rural lifestyle, and outdoor power equipment dealers in the United States and Canada.

To subscribe to NAEDA Update by e-mail, send your request to naeda@naeda.com or subscribe online at www.naeda.com.

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