Deere 1Q profit falls 45%

Full story: Chicago Tribune
Deere & Co.'s first-quarter earnings dropped 45 percent -- significantly below Wall Street forecasts -- as profits were dragged lower by the deepening global recession, higher raw-material costs and unfavorable ... Read more
Marty McFly and Biff

Rolling Meadows, IL

#1 Feb 18, 2009
Nice misleading headline.....for most dummies.

Profits fell 45%!!!!!

Oh, God! We can't have that. Wait a second, they didn't lose 45%, they MADE 45% less.
Sylvia

North Augusta, SC

#2 Jun 19, 2009
In 2008 Deere paid its CEO $63,000,000 or $64,000,000, the year before he was paid $53,000,000;
employees received last year record bonuses of 17%. Highest ever. Marty you are absolutely right "Nice misleading headline.....for most dummies". The reason they are reporting it this way is: The lawsuit filed against Deere by about 5000 retirees who had their Deere health benefits cut. The cost of covering this group of retirees would have been less then 20% of the CEO's pay. Continued Deere Health care after the age of 65 was part of the Deere retirement package they were promised. The reason they did it is: They claim the law allows them to renege on their agreement. Buy the way isn't it discriminatory to select one group only?(This is a group of none union that retired after April 1 2000, most of the retirees took the early retirement Deere offered in 2001, again with promise to provide health care insurance after age 65.) They also cut a life insurance policy although small but that too was part of the agreement.)

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

John Deere Discussions

Title Updated Last By Comments
News Russian ag ban worries, but won't wallop, U.S. ... (Aug '14) Aug '14 PAUL SHYKORA arts 1
News John Deere Eq Financing Russia Extension (Jun '14) Jun '14 PAUL SHYKORA art... 1
....FARMER ..is...GOD,..not... (May '13) Jun '14 PAUL SHYKORA art... 6
...PANT ..a..garden (Apr '14) Apr '14 PAUL SHYKORA arts 2
News Can Deere Overcome Its Current Challenges? (Mar '14) Mar '14 PAUL SHYKORA arts 1
News Caterpillar Inc. Is Finally Turning Around (Feb '14) Feb '14 SHYKORA PAUL arts 1
News US futures mixed as EU exits its longest recess... (Aug '13) Aug '13 amcummer 2
More from around the web