Iowa farmers are facing falling corn prices, hurricane-level destruction, and the highest coronavirus transmission rates in the country. Former Secretary of Agriculture and Iowa Gov. Tom Vilsack says it didn't have to be like this.
The pandemic has taken a bite out of sales and profits for John Deere. Friday it reported sales in the second quarter dropped 18 per cent compared to the same quarter last year, and net income fell 41 per cent.
Production at two John Deere plants will stop for a couple of weeks. The company says it will temporarily suspend production at the Dubuque and Davenport factories starting May 11th, and probably re-start on May 26th.
A top official at Verizon has joined the John Deere board of directors. Friday the company announced the addition of Tamra Erwin, Executive Vice President and CEO of Verizon Business, a division of Verizon Communications.
Shareholders seemed happy with what they heard today at Deere & Company's annual meeting. New CEO John May gave his first presentation to the board of directors and a packed house full of shareholders, including many retirees.
Workers at two John Deere plants in the Quad Cities will soon lose their jobs. Tuesday the company announced indefinite layoffs for about 50 production workers at the Harvester Works in East Moline, and 113 at the Davenport Works.