Year-End Review: Strong Membership, Healthy Bottom Line, Robust Meeting Attendance
Total operating revenue for the fiscal year saw an increase of 7.4%, while the increase in total expenses was held to 3.5%. These strong numbers allowed the Association to strengthen our reserves for the fifth consecutive year.
Membership Report: The strong balance sheet above is thanks in part to an aggressive campaign over the last three years to recruit new member companies. Even in a slower ag economy, 71 new companies became members in the last year, bringing total membership to 724.
Meetings Report: We continue to see strong participation for both our Fall Convention and Spring Conference. Attendance in Kansas City last month was higher than in Las Vegas in 2014, which had traditionally been one of the best cities to draw attendance.
Accident Kills 'Ag Pioneer'
The national agriculture community and the Oklahoma State University community are mourning the loss of Martin Stone, Ph.D.
Stone and his wife Bonnie, both 65, died Oct. 24 when a driver crashed her car into a crowd of people at the Oklahoma State University homecoming parade. >>>
PTC Deadline Postponed
Railroads have more time to prepare for PTC. As part of the Surface Transportation Extension Act of 2015 signed into law Oct. 29, railroads have through 2018 to install positive train control (PTC) technology.
Several agricultural groups sought the deadline extension. They argued that the majority of railroads would not have met the 2015 deadline, which would have meant millions of dollars in federal fines for rail companies and likely prompted the companies to discontinue some services. S >>>
The Association offers manufacturing members a web page to sell surplus stock. Items for sale must be outside the company’s marketed product lines.
Learn more at FarmEquip.org/Surplus. >>>
Deere Digs Deep into Data with Acquisitions
Deere has entered an agreement with The Climate Corporation, a subsidiary of Monsanto Company, to acquire the Precision Planting LLC equipment business, and it signed a definitive agreement to acquire Association member Monosem. >>>
Ex-Im Bank Likely Back in Business
The Export-Import Bank won a strong shot at reauthorization last week when it became part of the transportation bill passed by the House.
The Ex-Im Bank helps overseas customers of U.S. companies finance purchases with loans and credit guarantees. Its charter expired at the end of June. Supporters of the bank say it keeps U.S. firms on a level playing field against foreign competitors that enjoy similar support from their governments; opponents say it puts taxpayers at risk and allows the government to pick winners and losers.
Board Elects Officers
The Association's Board of Directors elected its 2016 president at the Fall Convention.
Ric Kirby, President of Kirby Manufacturing in Merced, Calif., will lead the board through the 2016 Fall Convention.
ASABE Releases Updates, Information
ASABE has released information about several standards, including:
• Publication of ASABE/ISO 12188-2:2012, tractors and machinery for agriculture and forestry—test procedures for positioning and guidance systems in agriculture—Part 2: Testing of satellite-based auto-guidance systems during straight and level trav >>>
U.S. Trade Deficit Drops
The U.S. trade deficit narrowed sharply in September to its lowest level in seven months as exports rebounded. This is a tentative sign that the worst of the drag from a stronger dollar may be over, Reuters reported.
CLAAS of America will expand its dealer footprint in Manitoba with the addition of its newest dealer, genAG Inc. in Winkler.
Digital marketing firm Team SI from Little Rock has launched agup.com for Mississippi Ag and Arkansas Ag.
A former employee of Reddin Farm Equipment in Stratford, Prince Edward Island, Canada, pleaded guilty recently to fraud and theft in a case that involved his taking about $705,000 from the business. >>>
EMDA Elects New President
Wayne Barber with DFK Equipment Sales, Inc., in St. Marys, Ontario, Canada, is the eighth president of the Equipment Manufacturers & Distributors Association >>>
Caterpillar Reports Tough Quarter
Caterpillar delivered quarterly financial news in late October that fell short of expectations. As a result, the company lowered its earnings outlook.
The report said revenue for the quarter fell to $10.96 billion from $13.55 billion a year ago >>>
Ag Innovator: On Its Way
Hear from members who represent their generation of leadership in the family operation in the next issue of Ag Innovator, which is in the mail now. >>>
These members represent 265 years of collective participation in the Farm Equipment Manufacturers Association. We mark their milestone anniversaries this month by thanking them—and each of you—for your commitment to the shortline industry and the Association that supports it. >>>
Anderson Retires from Ag Growth International
Ag Growth International Inc. has announced the retirement of CEO Gary Anderson and the appointment of his successor, company President Tim Close.
Anderson will remain in his current role until January 1 and continue as an advisor until March 31. He also will remain on the company's Board of Directors.
Kinze to Build Airport Hangar
Kinze Manufacturing in Williamsburg, Iowa is planning a corporate aircraft hangar at The Eastern Iowa Airport. A lease-purchase agreement with the Cedar Rapids Airport Commission says Kinze will build a 12,000-square-foot hangar >>>
Councils Elect Leaders
Members elected, or re-elected, new product council leaders at Association's Fall Convention in Kansas City. Among 2016 leaders:
Member Company Seeks Sales and Marketing Manager
A manufacturer of agricultural equipment in the Midwest has an opening for a career-oriented person to lead its sales and marketing department.
The position is responsible for increasing domestic sales and establishing international sales. The candidate must have at least five years of experience in a sales management position. >>>
Alamo Pleased with Q3
The Company's Agricultural Division reported net sales of $58.92 million in the third quarter, a slight increase compared to the $58.87 million achieved in 2014. For the first nine months, the division's net sales were $160.4 million this year compared to $163.3 million in the first nine months of 2014, a decrease of 1.8%. >>>
New Member Incentive
A handful of readers of this issue of Shortliner are still "prospects" and undecided about membership in the Farm Equipment Manufacturers Association. >>>
Speakers at Ag Bankers' Conference Share Thoughts
While members of this Association gathered in Kansas City at the end of October, the Ag Banker's Conference also was underway in Kansas City. In an article for Farm Progress, Mike Wilson wrote that bankers who spoke focused on caution and risk management in the context of their farmer-clients facing increased
financial stress. >>>
Budget Deal Includes OSHA Penalty Increases
Obama signed a two-year budget agreement last week that authorizes the Occupational Safety & Health Administration to increase penalties by as much as 50 to 82%. . . >>>
Association Members Elect Board Members
Association members in Kansas City for Fall Convention elected four shortline executives to the Board of Directors. New members are: >>>
Ruling on Software in Cars is Relevant to Farm Equipment
U.S. authorities have given security researchers permission to study software in automobiles in search of flaws, the Apex Tribune reported.
The decision may have implications for farm equipment. In April, Deere drew criticism when it submitted an argument to the U.S. Copyright Office that suggested farmers who buy its tractors do not own them but rather have an implied license to drive them. >>>
Right to Work on Its Way in Kentucky?
When Republican Matt Bevin surprised pundits and won the governor’s seat in Kentucky last week, he set up the state to become the 26th Right-to-Work state in the union.
After trailing in virtually every poll, Bevin beat Jack Conway (D) on Oct. 3.
Do You Have a Legal Question?
Members with legal questions related to labor-and-personnel issues are entitled to an anonymous and free 30-minute attorney consultation.
To learn more, call (314) 878-2304. >>>