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NE Ga | I have read Corporate Tragedy. IH rushed some models that were not fully tested and not ready for sale. Had all kind of in field failure. But to their credit they had recalls and in field repair costing millions of dollars for the company to repair. Also, uaw had strike against IH as they were spending mega $ getting the rotary combine ready for sale. IH also paid a great dividend to their stockholders which took away needed operating capital. Financial experts thought div was too much for the companies $ situation. A huge money pit was the construction division. Especially the crawlers trying to compete with Cat. As my Dad used to say "they had too many irons in the fire". | |
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30 years ago today in Ag Equipment history...
