Posts Tagged ‘farm equipment’
For 65 years, this rural burg on the eastern edge of the Great Prairie has been home to a brand that shares its name and is fertile ground for the development of game-changing agricultural machines.
During the Dust Bowl years, a “hill” on an otherwise flat stretch of the Great Prairie was often a piece of farm machinery buried by the era’s black blizzards of blowing topsoil, then deserted due to a hole in the social fabric called the Great Depression. Folks did what they could to survive, and a young Kansan named Lyle Yost helped make ends meet by scouring the countryside around his family’s farm for these mounds of dirt and steel.
“He was as young as 14,” says his daughter Susan, “and as soon as Dad learned how to drive, he would take the truck out into the countryside and look for [abandoned] farm equipment.” Yost, who passed away last year, would excavate what he found and bring it home, where he and his father would use it for spare parts or repair it for sale. “Not only did Dad learn how to build and rebuild [farm equipment], but he got acquainted with farmers,” Susan says. “He learned from them and found out what they needed. The idea of Hesston Corp. was planted when he was a teenager. I don’t think he knew the direction, but he knew that he had a calling, which was to help farmers.”
That direction became clear years later when he took on a problem that afflicted practically every farmer and harvester who owned a combine back in the day. Unloading just took too much time. Yost’s contemporaries used shovels and gravity to get the grain out of the bin, losing valuable time to get the grain up and out of harm’s way.
Yost, however, had an idea for a better way to move that grain, and after a particularly difficult harvest in 1947 and with memories of Dust Bowl storms still fresh, he and blacksmith Adin Holdeman went to work developing his unloading auger design. They made five of them in about a month, Susan recalls, and sent Yost’s cousin Earl Burner out to sell them. “He got back in 3 hours and said he needed 10 more.”
When they returned to the harvest the next summer using their new machine, others witnessed the speed at which the augers unloaded grain, and orders began arriving from as far as Texas and North Dakota. Buoyed by that success, the three men set up an assembly line near their homes in Hesston, and Hesston Manufacturing was born.
More than a half-century later, Yost’s focus on farmer-oriented solutions lives on today. Still located in the small, rural town where it all started, the Hesston facility has gone on to develop some of the most productive machines in agriculture, with the harvesting equipment made there now being sold worldwide.
Read the full story at http://www.myfarmlife.com/advantage/uncovering-the-hesston-story/.
What you don’t know could help you. Case in point: the option to lease farm equipment.
Not that there’s anything wrong with making a purchase, but a relatively small number of producers and custom operators are familiar with the benefits of a lease.
According to Clancey McCray, AGCO senior marketing specialist for high-horsepower tractors, programs and promotions, only about 10% of Massey Ferguson customers utilize the lease option. However, a lease may be a better fit for producers who want to preserve their capital resources, including credit, for other investments or prefer to trade in their equipment frequently.
“People who lease are generally those who want to have more capital available,” McCray says. “A lease allows you to use a piece of equipment without owning it. In essence, you’re only paying for the cost of use,” she adds, noting that leases are especially appealing to custom operators. “Of course, you don’t have any equity at the end of the lease period.”
That’s not to say a producer can’t have the best of both worlds—leasing a machine to try it out or acquire it when times are a little tight and then purchasing it later. “Most leases we offer are for a term of three years, but the customer always has the first option to buy,” McCray explains.
Leasing versus buying isn’t a decision you need to make by yourself, though. Consider the list of benefits below, then consult your tax adviser, talk to your Massey Ferguson dealer, and compare the offers from AGCO Finance. A little knowledge could go a long way to making you even more successful.
Consider a purchase if:
- You want the security of owning a physical asset like a combine or tractor, knowing that your payments result in direct ownership of collateral.
- You plan on keeping the machine for a few years (usually at least five).
- You keep your equipment well maintained, which helps retain its value and helps with resale or trade-in.
- The hours of use typically exceed the restrictions on a lease.
- You can benefit from tax credits that help offset the additional expenses of purchasing the tractor.
Consider a lease if:
- You want to preserve capital for other expenses or investments in your business.
- You have limited funds for a down payment or the higher payments a purchase would require.
- You like to trade often to benefit from the technology and efficiency available in new equipment.
- You plan to expand or reduce the size of your operation and need the flexibility to match equipment needs to farm size.
- You’re nearing retirement and don’t want to be locked into a large capital investment.
- You prefer to keep newer equipment in the fleet to reduce downtime.
Whether you purchase or lease, learn more about innovative Massey Ferguson equipment at myFarmLife.com.
The AGCO Parts Field Rewards program offers farmers in North America the opportunity to earn up to $500 in AGCO Parts cash with the purchase of any new AGCO Brand equipment from June 1, 2011, through July 31, 2011.
The AGCO Parts Cash can be used to buy genuine original equipment manufacturer (OEM) AGCO Parts. Farmers can count on the consistent OEM quality, dealer availability and competitive prices of authentic AGCO Parts all with a 12-month warranty. AGCO Parts has been recognized for its best-in-class parts quality by the North American Service-Parts Conference, a leading symposium for the service-parts divisions of prominent original equipment manufacturers in North America.
Farmers can utilize their AGCO Cash for preventative farm equipment maintenance as they prepare for the busy fall harvest season. With preventative maintenance, farmers are able to maximize farm equipment uptime and improve productivity.
In addition to earning AGCO Parts Cash when purchasing new farm equipment, farmers can also enroll their new equipment in the AGCO Parts preventative maintenance program called PM360, and receive additional offers to keep their equipment in top shape. For more on the PM360 program, visit www.agcopm360.com.
AGCO Cash is a certificate redeemable at participating North American AGCO Parts dealers. AGCO Parts Cash cannot be combined with any other promotions. One AGCO Cash certificate per transaction. One redemption per address during each redemption period. $500 AGCO Cash certificate requires the minimum purchase of $1,000 in AGCO Parts.
For more on the Field Rewards program, please contact your local AGCO Parts dealer or visit www.AGCOparts.com.
How will you use your AGCO Parts cash?