Federal Court Issues Injunction Against Persuader Rule

Calling the Department of Labor’s new interpretation of its Persuader Rule “defective to its core,” the District Court for the Northern District of Texas issued a nationwide injunction in late June against the final rule. The ruling came just days before July 1, the date on which the new rule’s most problematic reporting requirements would have become fully effective.

The District Court determined the rule:

* Exceeds DOL’s authority under the LMRDA
* Is “arbitrary, capricious, and an abuse of discretion
* Unreasonably conflicts with state rules governing the practice of law
* Violates the attorney-client privilege.

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What to Expect from Brexit

Analysts for agriculture and international trade were among experts scrambling post-Brexit vote to make sense of what it might mean for Britain to no longer be part of the European Union. Much like the legion of economists, politicians and historians who sought to put the vote in context, experts in the farm equipment industry could offer only speculation.

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Used Farm Equipment Values More Vulnerable Than Farmland

U.S. agriculture could dodge the long-feared collapse in farm real estate prices this commodity cycle, suggest economists, but some cautioned another bubble may burst: the value of used farm equipment.

“Land values haven’t seen near the pullback that everyone predicted,” observed Bruce Sherrick, director of the TIAA-CREF Center for Farmland Research at the University of Illinois, during conversation at a recent Farm Foundation meeting.

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Resources for Members

Every other year, our Association has purchased the complete ASABE Standards and Engineering Practices Data and made that $549 resource available to our manufacturing members at no cost.

The 2016 edition is now available and will be sent to any regular member company requesting a copy, while supplies last.

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Dealer News

Stotz Equipment has reached an agreement to purchase the assets of Christiansen Implement. – CLAAS of America will open a third Canada West Harvest Centre location – Atlanta Kubota recently hosted a grand opening of its new facility in Marietta, Ga. – Matsqui Ag Repair, located in Abbotsford, B.C., has joined JCB’s dealer network as Matsqui JCB

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Association Expands Benefits for 2017

In response to economic challenges facing many members of the Farm Equipment Manufacturers Association, its board of directors has decided to expand benefits.

“The Association recognizes that during this economic downturn, the services it offers members become even more crucial,” said Vernon Schmidt, executive vice president. “We will double down on our efforts to serve as advocates for the shortline industry, and we will continue to look at opportunities to bring greater value to our members.”

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In Memoriam

Terry Schruth, retired president of Pepin Farm Implements, died May 19. He was 88.

Schruth was president of the family business from the mid-1960s until 1991. The harrow manufacturer is today under the ownership of the family’s fifth generation.

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