About the time everyone believes that something will "never" happen you better start planning for it.
In 1970 IH was one of the 5 largest corporations on earth. In 1980 they had "financial problems" but everyone (I remember reading this in several farm magazines) said they'd weather the storm like they had for the past hundred years. A few years later all that was left was the truck division.
All three of the domestic automakers have been having problems since the start of the decade. $4.00 a gallon gas has just about slammed the coffin door shut on them. If Chrysler hadn't been sold to Daimler in 1998 they wouldn't exist today. The Germans paid 38 BILLION for Chrysler in 1998, 10 years later Daimler paid Cerberus almost a half billion to take Chrysler off their hands. Since then Daimler making profits and Chrysler is losing money by the billions.
For all the talk about RESESSION the country isn't even close - unemployment is still 5% - near historic lows and the economony is still growing. If the big three can't make money now what will they do if we hit a couple years like we had in the 70s and early 80s?
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Today's Featured Article - Fasteners: The Nuts and Bolts of Nuts and Bolts - by Curtis Von Fange. The nuts and bolts of nuts and bolts is an interesting and essential piece of knowledge that applies to our older tractors. An improperly torqued capscrew on an engine head or a shear bolt that is too hard on the driving shaft of a bushog can create havoc and make an expensive and uncalled for repair. Let’s examine the purpose and design of these fasteners in order to ensure their proper use. Fasteners are probably one of the aspects of mechanics that is given the least amount of thought.
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