03.10.2008 - Credit crunch, commodity turmoil slam Deere
From Guardian: This was supposed to be a banner year for Deere & Co , the world's largest maker of farm equipment. With worldwide biofuel development, growing food demand in the developing world, and grain prices at record levels, the biggest challenge facing Deere at the start of 2008 seemed to be keeping up with the orders for its tractors and combines. Instead, the Moline, Illinois-based company has spent much of the year on the defensive and watched more than half its market capitalization -- about $23 billion in all -- disappear along with the positive sentiment that once surrounded its outlook...... Full Article: Source