Farmers depend almost entirely on their crops in order to turn a profit, so it can be disastrous if the planting is ruined by a natural disaster or similar event. This year, thousands of farmers were affected by serious flooding along the Missouri River, which was caused when the U.S. Army Corps of Engineers were forced to blow up levees at certain reservoirs to prevent those areas from becoming flooded. Instead, that water traveled downstream and flooded thousands of acres of farmland all through the Midwest.
Crop insurance premiums will likely rise due to flooding
Topics: Industry Headlines
A Tax Free exchange may save you thousands of dollars
If you're looking to sell your used farm tractor, used dump truck or used crane online, you may be concerned about losing out on revenue due to federal income taxes. Depending on the item and the seller's income bracket, you could lose nearly a quarter of the money generated by your sale before it ever makes it into your pocket. However, if you've sold a piece of equipment for capital gain, you may qualify for a Tax Free exchange.
Topics: Industry Headlines
Calling it "one of the best years ever," The Associated Press reports that 2011 was very kind to those in the agricultural business, as profits jumped 28 percent to over $100 billion total.
Topics: Industry Headlines
Skanska CEO predicts good prospects for construction industry
Swedish construction company Skanska AB is projecting a large number of new construction projects available over the next six months, making it a great time to buy used construction equipment from auctions like IronPlanet. IronPlanet offers a wide range of equipment and vehicles to help you get the job done right, and the IronClad Assurance program ensures that everything that goes on the block is of the highest quality.
Skanska CEO Johan Karlstrom said that things were looking up in terms of new projects over the next six months, according to MarketWatch. Karlstrom made the comments on a conference call discussing the company's third quarter earnings.
Topics: Construction, Industry Headlines
Many people look at ATVs as recreational vehicles, but farmers have known for years that these machines are great for getting around the land and doing some of the tougher tasks.
Topics: Industry Headlines
Facebook move could generate millions in construction money
Some companies have grown to the point that a simple decision can have a major economic impact. That's certainly the case with Facebook and the city of Menlo Park, Calif., which is the proposed new site for the social media giant's headquarters.
Topics: Construction, Industry Headlines
The fourth quarter 2011 report of the Turner Building Cost Index, which tracks the cost of building non-residential projects for construction companies, increased marginally compared to the previous quarter, reflecting the fact that construction companies are spending more on their projects.
Topics: Construction, Industry Headlines
CNH reports increased sales, profits in third quarter
Construction equipment manufacturer CNH Global N.V. has announced that its third-quarter sales jumped 30 percent this year. Revenue from sales for the brand rose to $4.6 billion in the third quarter.
While the sales were up sharply, profits were ultimately up even higher for CNH. Increased demand for equipment coupled with improved prices meant that operating profit jumped 92 percent, to $460 million.
Agricultural equipment accounted for the majority of sales for CNH, comprising 77 percent of all units sold, with the remaining being construction equipment. However, the construction equipment sales improved more dramatically than the agricultural products - up 36 percent compared to 29 percent.
Topics: Construction, Industry Headlines
Although spending on construction is still down from previous levels, the Commerce Department revealed that it was up slightly in October, reports The Washington Post.
Topics: Construction, Industry Headlines
Farmers care more for produce quality than certification
Since 2002, the U.S. Department of Agriculture has tightly regulated whether farms can call their produce organic or not. While the organic market has gotten significant press over the past few years with more people wanting a healthy lifestyle, USA Today reports that today's farmers are more concerned with the quality of their product.
Topics: Industry Headlines