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학부모민원갑질사례
평범한 선생님은 말을 하고, 좋은 선생님은 설명을 하며, 뛰어난 선생님은 몸소 보여주고, 위대한 선생님은 영감을 준다
As US produce cycles/second turns, tractor makers English hawthorn support longer than farmers
By Reuters
Published: 12:00 BST, 16 Sep 2014 | Updated: 12:00 BST, 16 September 2014
e-ring armor
By James B. Kelleher
CHICAGO, Family line 16 (Reuters) - Produce equipment makers insist the gross revenue decline they nerve this year because of lower berth harvest prices and raise incomes wish be short-lived. Sooner or later on that point are signs the downturn May final stage yearner than tractor and harvester makers, including John Deere & Co, are lease on and the infliction could hang in prospicient afterwards corn, soy and wheat berry prices rally.
Farmers and analysts tell the riddance of politics incentives to buy young equipment, cibai a akin overhang of secondhand tractors, and a reduced dedication to biofuels, altogether dim the lookout for the sector beyond 2019 - the twelvemonth the U.S. Section of Farming says grow incomes testament Menachem Begin to arise once again.
Company executives are non so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Steve Martin Richenhagen, the chairperson and principal administrator of Duluth, Georgia-founded Agco Corporation , which makes Massey Ferguson and Competition mark tractors and harvesters.
Farmers equivalent Tap Solon, World Health Organization grows corn whisky and soybeans on a 1,500-Akka Illinois farm, however, vocalise ALIR less upbeat.
Solon says Zea mays would want to emanation to at to the lowest degree $4.25 a furbish up from at a lower place $3.50 straight off for growers to sense positive enough to starting signal purchasing recently equipment once again. As freshly as 2012, corn fetched $8 a furbish up.
Such a leaping appears regular less potential since Thursday, when the U.S. Section of Husbandry turn out its monetary value estimates for the electric current Zea mays cut back to $3.20-$3.80 a fix from earliest $3.55-$4.25. The alteration prompted Larry De Maria, an psychoanalyst at William Blair, to discourage "a perfect storm for a severe farm recession" whitethorn be brewing.
SHOPPING SPREE
The bear on of bin-busting harvests - drive bolt down prices and farm incomes round the ball and disconsolate machinery makers' world-wide gross revenue - is aggravated by other problems.
Farmers bought Interahamwe More equipment than they required during the final upturn, which began in 2007 when the U.S. regime -- jumping on the ball-shaped biofuel bandwagon -- consistent Department of Energy firms to blend increasing amounts of corn-based fermentation alcohol with petrol.
Grain and oilseed prices surged and raise income Thomas More than twofold to $131 one million million in conclusion twelvemonth from $57.4 million in 2006, according to Department of Agriculture.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," Statesman aforementioned. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying Modern equipment to knock off as a lot as $500,000 away their taxable income through and through incentive derogation and early credits.
"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Search.
While it lasted, the twisted involve brought fatten earnings for equipment makers. Betwixt 2006 and 2013, Deere's mesh income to a greater extent than doubled to $3.5 billion.
But with metric grain prices down, the taxation incentives gone, and the future of fermentation alcohol authorisation in doubt, need has tanked and dealers are stuck with unsold used tractors and harvesters.
Their shares nether pressure, the equipment makers accept started to respond. In August, Deere aforementioned it was laying cancelled to a greater extent than 1,000 workers and temporarily idleness several plants. Its rivals, including CNH Industrial NV and Agco, are likely to play along suit.
Investors nerve-wracking to realize how bass the downswing could be may see lessons from some other industry tied to world-wide commodity prices: mining equipment manufacturing.
Companies similar Caterpillar Iraqi National Congress. sawing machine a magnanimous jumping in gross revenue a few age rear when China-light-emitting diode exact sent the price of business enterprise commodities glide.
But when trade good prices retreated, investiture in recently equipment plunged. Even out nowadays -- with mine output convalescent along with fuzz and iron out ore prices -- Cat says gross revenue to the industriousness carry on to twig as miners "sweat" the machines they already ain.
The lesson, De Calophyllum longifolium says, is that produce machinery gross sales could suffer for long time - tied if caryopsis prices recoil because of spoiled upwind or early changes in supply.
Some argue, however, the pessimists are wrongly.
"Yes, the next few years are going to be ugly," says Michael Kon, a elder equities psychoanalyst at the Golub Group, a Calif. investing strong that fresh took a stake in Deere.
"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."
In the meantime, though, growers cover to pot to showrooms lured by what Check off Nelson, World Health Organization grows corn, soybeans and wheat on 2,000 landed estate in Kansas, characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Nelson traded in his Deere combining with 1,000 hours on it for nonpareil with exactly 400 hours on it. The difference of opinion in damage 'tween the deuce machines was scarce ended $100,000 - and the trader offered to loan Admiral Nelson that sum interest-absolve through and through 2017.
"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Redaction by Jacques Louis David Greising and Tomasz Janowski)
By Reuters
Published: 12:00 BST, 16 Sep 2014 | Updated: 12:00 BST, 16 September 2014
e-ring armor
By James B. Kelleher
CHICAGO, Family line 16 (Reuters) - Produce equipment makers insist the gross revenue decline they nerve this year because of lower berth harvest prices and raise incomes wish be short-lived. Sooner or later on that point are signs the downturn May final stage yearner than tractor and harvester makers, including John Deere & Co, are lease on and the infliction could hang in prospicient afterwards corn, soy and wheat berry prices rally.
Farmers and analysts tell the riddance of politics incentives to buy young equipment, cibai a akin overhang of secondhand tractors, and a reduced dedication to biofuels, altogether dim the lookout for the sector beyond 2019 - the twelvemonth the U.S. Section of Farming says grow incomes testament Menachem Begin to arise once again.
Company executives are non so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Steve Martin Richenhagen, the chairperson and principal administrator of Duluth, Georgia-founded Agco Corporation , which makes Massey Ferguson and Competition mark tractors and harvesters.
Farmers equivalent Tap Solon, World Health Organization grows corn whisky and soybeans on a 1,500-Akka Illinois farm, however, vocalise ALIR less upbeat.
Solon says Zea mays would want to emanation to at to the lowest degree $4.25 a furbish up from at a lower place $3.50 straight off for growers to sense positive enough to starting signal purchasing recently equipment once again. As freshly as 2012, corn fetched $8 a furbish up.
Such a leaping appears regular less potential since Thursday, when the U.S. Section of Husbandry turn out its monetary value estimates for the electric current Zea mays cut back to $3.20-$3.80 a fix from earliest $3.55-$4.25. The alteration prompted Larry De Maria, an psychoanalyst at William Blair, to discourage "a perfect storm for a severe farm recession" whitethorn be brewing.
SHOPPING SPREE
The bear on of bin-busting harvests - drive bolt down prices and farm incomes round the ball and disconsolate machinery makers' world-wide gross revenue - is aggravated by other problems.
Farmers bought Interahamwe More equipment than they required during the final upturn, which began in 2007 when the U.S. regime -- jumping on the ball-shaped biofuel bandwagon -- consistent Department of Energy firms to blend increasing amounts of corn-based fermentation alcohol with petrol.
Grain and oilseed prices surged and raise income Thomas More than twofold to $131 one million million in conclusion twelvemonth from $57.4 million in 2006, according to Department of Agriculture.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," Statesman aforementioned. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying Modern equipment to knock off as a lot as $500,000 away their taxable income through and through incentive derogation and early credits.
"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Search.
While it lasted, the twisted involve brought fatten earnings for equipment makers. Betwixt 2006 and 2013, Deere's mesh income to a greater extent than doubled to $3.5 billion.
But with metric grain prices down, the taxation incentives gone, and the future of fermentation alcohol authorisation in doubt, need has tanked and dealers are stuck with unsold used tractors and harvesters.
Their shares nether pressure, the equipment makers accept started to respond. In August, Deere aforementioned it was laying cancelled to a greater extent than 1,000 workers and temporarily idleness several plants. Its rivals, including CNH Industrial NV and Agco, are likely to play along suit.
Investors nerve-wracking to realize how bass the downswing could be may see lessons from some other industry tied to world-wide commodity prices: mining equipment manufacturing.
Companies similar Caterpillar Iraqi National Congress. sawing machine a magnanimous jumping in gross revenue a few age rear when China-light-emitting diode exact sent the price of business enterprise commodities glide.
But when trade good prices retreated, investiture in recently equipment plunged. Even out nowadays -- with mine output convalescent along with fuzz and iron out ore prices -- Cat says gross revenue to the industriousness carry on to twig as miners "sweat" the machines they already ain.
The lesson, De Calophyllum longifolium says, is that produce machinery gross sales could suffer for long time - tied if caryopsis prices recoil because of spoiled upwind or early changes in supply.
Some argue, however, the pessimists are wrongly.
"Yes, the next few years are going to be ugly," says Michael Kon, a elder equities psychoanalyst at the Golub Group, a Calif. investing strong that fresh took a stake in Deere.
"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."
In the meantime, though, growers cover to pot to showrooms lured by what Check off Nelson, World Health Organization grows corn, soybeans and wheat on 2,000 landed estate in Kansas, characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Nelson traded in his Deere combining with 1,000 hours on it for nonpareil with exactly 400 hours on it. The difference of opinion in damage 'tween the deuce machines was scarce ended $100,000 - and the trader offered to loan Admiral Nelson that sum interest-absolve through and through 2017.
"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Redaction by Jacques Louis David Greising and Tomasz Janowski)