Word: farms
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...Choi takes it all very seriously. He wants to bring farm-raised, artisanal food to the masses. In addition to the new restaurant in L.A., he's looking to expand to another city with his trucks. One of his dreams involves a traveling foodapalooza where Eminem performs onstage while farmers sell their veggies at booths nearby...
...Greece. The euro closed on Tuesday at $1.35, down from a high of $1.51 in November. "The leaders are hardening positions but not for a clearly thought-out purpose," says Fredrik Erixon, director of the Brussels-based European Centre for International Political Economy. "It looks more like a chicken farm than anything else...
...reality, Deere is following its customers. For decades, smaller U.S. farms have been replaced by industrial, or factory, operations. It's not the storybook farm, but it's more efficient. "The amount of money a dealer has to invest to train its technicians or buy diagnostic tools continues to grow," says Deere CEO Samuel Allen, a company lifer. "So to be a great dealer requires making more money and that's gotten harder for smaller operations." (See pictures of farm land in Nebraska...
Likewise, Russia and Eastern Europe offer potential. Russia has arable land and an aging Soviet fleet of farm equipment, and the government has put a priority on being self-sufficient in food and agriculture. The recession has made financing hard to come by in the region, but "Deere is planting the seeds for when the markets normalize," says Lawrence De Maria, an analyst at the New York brokerage firm Sterne Agee. Still, De Maria adds, "it's sticking with assembly factories for now so that if they had to pick up and leave, it wouldn't kill the shareholders...
...company opened a factory in Pune, India, in 2001 and has several operations and joint ventures in China. But the Indian tractor maker Mahindra & Mahindra has also begun selling its wares - less sophisticated but cheaper - in the U.S. "If Deere is making the Lexus or Mercedes of farm equipment, Mahindra is making Hyundai quality," Tiss says...