FarmTrac Troubles

[taxpayer]

Cost of Corporate Leadership
by: David Segal
Sat Sep 01, 2007 at 16:26:03 PM EDT
United for A Fair Economy and the Institute for Policy Studies just released their annual Labor Day Report on "The Staggering Cost of Corporate Leadership."

Top CEOs took it on the chin this year, with the CEO-worker pay ration of Fortune 500 firms dipping to 364.

However, over the last few years, military contactor execs and private equity and hedge fund managers have been making out like bandits: Average military CEO pay has increased by about 200 percent since 2001, and the fund managers now have average of $657.5 million in compensation, or 22,255 times the average worker's.

On the local front, Textron CEO Lewis Campbell's pay is in line with other military contractors' -- having risen fron $7 million to $20 million since 2001. That's a period that's also seen the conglomerate admit bribing the Iraqi government while seeking oil-for-food contracts, and continue its production of cluster bombs

Looks like old LC could afford a few blue boat anchors eh?

Taxpayer

 

[redneckford]

Cost of Corporate Leadership
by: David Segal
Sat Sep 01, 2007 at 16:26:03 PM EDT

On the local front, Textron CEO Lewis Campbell's pay is in line with other military contractors' -- having risen fron $7 million to $20 million since 2001. That's a period that's also seen the conglomerate admit bribing the Iraqi government while seeking oil-for-food contracts, and continue its production of cluster bombs

Looks like old LC could afford a few blue boat anchors eh?

Taxpayer

man what a plan--- start a war on terror----help those that cause the terror ---then get paid to build things to fight the war----what a business plan!!!! Then get a $13 million dollar pay raise to boot???!!! (What school of business taught that lesson--better get that professor retired before he teaches someone else those strategies)how about we start a war on the lies and liar's that work for Textron---I need to get all those names and addresses so i can send them Christmas cards and one share of Lehman Bros stock!!!!!----They will begin to understand the true meaning of the word ground zero----oh!oh! i mean zero stock value!!!!-----i think everyone of us would be satisfied if they picked up all those blue tractors and donated them to the good people of Texas to help with their recovery!!!! We all know the tractors are dependable--the people that service them are dependable---and the people that floorplan them are plain darn crooks!!!!!!!!! The time to sell you Textron Stock is NOW!!! Before these little bitty tractor dealers start their oil for truth campaign!!!!!OH! That's the TELL THE TRUTH CAMPAIGN!!!! I am not a stock broker but I did trade a horse for a cow one time!!!!

 

[SESS]

Click to view this article or read below: Textron Financial forecasts lower profits - Providence Business News

Posted Aug 12, 2008
Financial Services
Textron Financial forecasts lower profits

PROVIDENCE Textron Financial Corp., a subsidiary of Providence-based Textron Inc., is forecasting that its profits will be 41 percent lower this year.

Textron Financial expects a net operating profit of $130 million for the full year, down from $222 million, executives told analysts during a presentation last week.

Tom Cullen, the chief financial officer of Textron Financial, said the company is projected loan-loss provisions of $88.3 million this year, according to Reuters.

When the parent company reported its second-quarter earnings last month that were $1.03 per share below the consensus estimates of Wall Street executives noted a $55 million decrease in profits in its financial arm because of lower market interest rates, lower fee income and an increase in the loan-loss set-aside. (READ MORE)

At the time of that earnings report, the percentage of loan receivables that were delinquent more than 60 days was 0.61 percent, up from 0.33 percent in the 2008 first quarter. Nonperforming assets increased to 2.31 percent, up from 1.84 percent at the end of the preceding quarter.

 

[case1570]

I think someone should contact the staff writer who wrote the article and tell them one of the real reasons that textron is not performing. Let them read this thread and continue the exposure of the very unintelligent decisions that textron employees have made and are continuing to make. If a company must resort to things like breaking the law and conspiricy (this has been proven) just to make a profit, there is only one thing that can happen.
Textron you choose this path, you just underestimated the will of the average American Dealers resilience.
Case
PS I still love the Farmtrac tractors, they have not let me down!

 

[SESS]

The reporter that wrote the article titled "TEXTRON FINANCIAL FORECAST LOWER PROFITS" article is William Hamilton and can be emailed at:

hamilton@pbn.com <hamilton@pbn.com>

I sent him an email myself.

 

[redneckford]

Click to view this article or read below: Textron Financial forecasts lower profits - Providence Business News

Posted Aug 12, 2008
Financial Services
Textron Financial forecasts lower profits

PROVIDENCE Textron Financial Corp., a subsidiary of Providence-based Textron Inc., is forecasting that its profits will be 41 percent lower this year.

I wonder if all these banks and insurance companies that are going broke because they were hiding all that debt in their balance sheets has any of those over price big three tractors financed!!!! The reason I ask that question is that as most dealers know the finance company/floorplan company sends you an invoice for the tractor----if you use "less' than zero or zero % financing you do not get to subtract any "cash" discounts----how ever if you use outside financing you get a cash discount/rebate for $4-$5 thousand dollars---until you sell the tractor you are paying floorplan interest on the "full' invoice of the tractor--inflated from the manufacturer so that they can use zero percent marketing strategies to make customers "think" they are not getting charged interest----however if they calculated how much that zero percent financing was costing they would see it is not near zero---just another marketing strategy----The manufacturer or Floorplan company is charging interest on a value that everyone knows is inflated by 10% or more!!!! That strategy allows them to hold the used market up because if a new tractor sold for thousands less the used tractor that gets traded in would be worth thousands less---so you can see how we have got in this banking mess---They are selling $100,000 houses for $200,000 and $8000 tractors for $15,000 talk about over statement of loan portfolio's If we could buy'em for what they are worth and sell'em for what they say they are worth we could go play golf for a few weeks---Oh!Oh! that is what caused this credit crisis the country is in now---PLAYING TOO MUCH GOLF!!!!

 

[tb8100]

Has Farmtrac been bought yet? All the FT dealers in this area say that Montana bought them out, and since alot of them also carry Montana, they say, "take your pick, green or blue. They're all the same!"

Is there at least some truth to that?

 

[NewToy]

Click to view this article or read below: Textron Financial forecasts lower profits - Providence Business News

Posted Aug 12, 2008
Financial Services
Textron Financial forecasts lower profits

PROVIDENCE Textron Financial Corp., a subsidiary of Providence-based Textron Inc., is forecasting that its profits will be 41 percent lower this year.

I wonder if all these banks and insurance companies that are going broke because they were hiding all that debt in their balance sheets has any of those over price big three tractors financed!!!! The reason I ask that question is that as most dealers know the finance company/floorplan company sends you an invoice for the tractor----if you use "less' than zero or zero % financing you do not get to subtract any "cash" discounts----how ever if you use outside financing you get a cash discount/rebate for $4-$5 thousand dollars---until you sell the tractor you are paying floorplan interest on the "full' invoice of the tractor--inflated from the manufacturer so that they can use zero percent marketing strategies to make customers "think" they are not getting charged interest----however if they calculated how much that zero percent financing was costing they would see it is not near zero---just another marketing strategy----The manufacturer or Floorplan company is charging interest on a value that everyone knows is inflated by 10% or more!!!! That strategy allows them to hold the used market up because if a new tractor sold for thousands less the used tractor that gets traded in would be worth thousands less---so you can see how we have got in this banking mess---They are selling $100,000 houses for $200,000 and $8000 tractors for $15,000 talk about over statement of loan portfolio's If we could buy'em for what they are worth and sell'em for what they say they are worth we could go play golf for a few weeks---Oh!Oh! that is what caused this credit crisis the country is in now---PLAYING TOO MUCH GOLF!!!!

I think all the banks and investment houses are the victim of the subprime mtg debacle. Look at Lehman Bros, very respected outfit until a few days ago. They are one of many "investment" houses that bought these mortgages that were all rolled up into these bond issues. Trouble is not even the great "Kreskin" has any idea what any of the mess is worth. Hard to reconcile the books when they're shooting blind like they are. It is a good time to unload any of these stocks if you're holding them. When they start dropping 35-40% (Goldman Sachs) of their value overnight it's not hard to tell people are jumping out quick.

John

 

[farmers world]

Has Farmtrac been bought yet? All the FT dealers in this area say that Montana bought them out, and since alot of them also carry Montana, they say, "take your pick, green or blue. They're all the same!"

Is there at least some truth to that?

I am a Farmtrac dealer in SC.If their is any truth to it we have not heard of it.But of course the dealers will be the very last people to know anything about whats going on with textron or farmtrac.

 

[SESS]

Has Farmtrac been bought yet? All the FT dealers in this area say that Montana bought them out, and since alot of them also carry Montana, they say, "take your pick, green or blue. They're all the same!"

Is there at least some truth to that?

Farmtrac dealer here in Florida. That has been a rumor circulating since Jan. It dies, gets reborn, dies, etc. The rumor is not just with Montana, but LS Mtron (new company formed from LS that builds the Farmtrac, Montana, McCormick, etc) and other companies too. Nothing that we can report yet. As farmerworld posted, the Farmtrac dealers are usually the last to know though. I would keep watching this thread-it seems to be the most current!