Two lawsuits have been filed in the past two weeks against farm equipment maker Deere & Company for allegedly violating antitrust laws by unlawfully monopolizing the tractor repair market. The first [PDF] was filed on January 12 in Illinois on behalf of Forest River Farms, a farming business based in North Dakota; the second, was…
Powerful gross sales of tractors, combines and different precision agriculture apparatus helped spice up Deere & Co.’s profits 13% within the 3rd quarter, the Moline, Illinois, producer reported Friday. Deere mentioned earnings climbed to just about $1.9 billion on gross sales that grew 25% to $13 billion within the 3rd quarter, regardless of endured supply-chain disruptions. The…
(FARM AND DAIRY) – Farm groups and advocacy organizations filed a complaint with the Federal Trade Commission against Deere & Company over the right to repair their own equipment or have equipment repaired by independent mechanics March 3. In the complaint, the groups said the company “has deliberately restricted access to diagnostic software and other…
Deere & Company shares rose over 1% in pre-market trading on Friday after the world’s largest maker of farm equipment reported better-than-expected earnings in the fiscal first quarter and lifted its annual profit forecast. The agricultural, construction and forestry equipment manufacturer said its net sales from equipment operations rose nearly 6% to $8.5 billion, surpassing…
Imagine you just dropped a cool half-million on a new car. As your prized possession is delivered to your doorstep on the back of a flatbed truck, you’re handed a manila envelope. Inside, there’s an End User Agreement from the manufacturer that essentially grants you the right to use the car but retains overall ownership…
