About Reynolds Farm Equipment

Reynolds Farm Equipment has been an authorized John Deere dealer serving central Indiana since 1955. We are an authorized John Deere dealer that markets John Deere Tractors, John Deere Farm Equipment, John Deere Agricultural Equipment, John Deere Commercial Worksite Equipment, John Deere Golf and Turf Equipment, John Deere Lawn and Garden Equipment, John Deere New Parts, John Deere Used Parts, John Deere Tractor Parts, and John Deere Toys. Our blog, John Deere Stuff, will provide you with useful information related to our business in the farming equipment industry.

If you are looking for further John Deere information or products, visit the Reynolds Farm Equipment website.

Tuesday, September 28, 2010

Rush Enterprises sells Deere dealerships for $26M


Truck dealership operator Rush Enterprises Inc. said Friday that it has completed the sale of its John Deere construction equipment dealerships to Doggett Heavy Machinery Services LLC for $26.2 million.

Rush, the New Braunfels-based truck and commercial vehicle dealerships owner, announced the sale in June, saying its construction-equipment division was growing at a slower pace than desired. The sales prices listed in the June announcement was about $37 million.

W.M. “Rusty” Rush, president and CEO of Rush, said the closing provides resources that Rush can invest in its current businesses while and also use to evaluate new acquisitions. Those acquisitions could include construction equipment dealerships in areas of the country outside of those it served before the sale, he said.

The company has truck dealerships in 14 states.

Monday, September 27, 2010

Exelon Plans Debt Sale to Buy Deere Wind-Power Unit


Exelon Corp., the largest U.S. producer of nuclear power, plans to sell $900 million of 10- and 31-year debt to fund its purchase of a Deere & Co. wind-power unit.

The bonds may be issued as soon as today through Exelon Generation Co. according to a person familiar with the transaction. John Deere Renewables LLC will cost $860 million with an additional $40 million if Deere starts constructing three projects in Michigan, Exelon said today in a regulatory filing that didn’t specify the debt offering’s size or timing.

Exelon’s acquisition marks the Chicago-based company’s first foray into owning and operating wind projects, it said in an Aug. 31 statement. The 735 megawatts of wind capacity, enough to power as many as 220,000 homes in eight U.S. states, will add to 2012 profit and advances Exelon’s 2008 promise to reduce carbon-dioxide emissions, according to the statement.

“We took this deal to the rating agencies well in advance of doing it,” Bill Von Hoene, Exelon’s executive vice president for finance and legal, said at a conference on Sept. 15. “They concluded, as did we, that it was credit neutral.”

The notes may be rated A3 by Moody’s Investors Service and BBB by Standard & Poor’s, said the person, who declined to be identified because terms aren’t set.

The acquisition will make Exelon the 13th-biggest wind generator in the U.S., Von Hoene said in the call.

Thursday, September 16, 2010

Ace Buys Rain and Hail for $1.1 Billion to Add Crop Insurance Coverage


Ace Ltd., the Zurich-based insurer with operations in more than 50 countries, agreed to pay $1.1 billion in cash to buy a majority stake in Rain & Hail Insurance Service Inc. and expand coverage of crops in the U.S.

The price values the insurer at about 1.59 times its projected yearend book value of $840 million, Ace said in a presentation today on its website. Ace said the deal will add about 22 cents to earnings per share next year. Ace already holds about 20 percent of the common stock in the Johnston, Iowa-based insurer, which is majority-owned by employees.

Ace, led by Chief Executive Officer Evan Greenberg, is adding to the business of protecting U.S. farmers against losses after the government this year reduced subsidies for the policies. The company said in July that the changes could work in favor of the largest insurers in the business against regional competitors.

“It’s a good example of Evan Greenberg’s strategy of growing through all phases of the property-and-casualty pricing cycle,” said Daniel Theriault, an analyst at New York-based Portales Partners LLC who advises investors to buy Ace shares. “They are already a big player in the agricultural crop business so it’s a relatively low risk acquisition. It’s a pretty good feat in this current environment.”

Ace, which shuns shareholder buybacks, is expanding after remaining profitable through the credit crisis by sidestepping subprime mortgage-related securities. Greenberg said late yesterday that Ace would buy Jerneh Insurance Bhd. for about $210 million to expand in Malaysia.

‘Pretty Robust’

“Pipelines of opportunity are pretty robust right now” for acquisitions, Greenberg said in a conference call in July.

Ace advanced 68 cents, or 1.2 percent, to $57.36 at 4:01 p.m. in New York Stock Exchange composite trading. The company has climbed about 14 percent this year, beating the Standard & Poor’s 500 Index, which is little changed.

Ace competes with market leader Wells Fargo & Co., Australia’s QBE Insurance Group Ltd. and American Financial Group Inc. selling protection to farmers. Rain & Hail, with a market share of about 21 percent, ranks second to a Wells Fargo business, according to data released by Ace in the presentation.

Rain & Hail posted net income last year of $199 million, according to Ace. The company has about 400 full-time employees and sells coverage through a network of more than 11,000 agents.

“This is a business we know well,” Greenberg said in the statement. “We project a return on capital in excess of our 15 percent hurdle rate.”

Thursday, September 2, 2010

John Deere, Common Ground Alliance and US DOT join for Safe Digging

Quad Cities Online

Representatives from John Deere Construction & Forestry, the Common Ground Alliance (CGA) and the Department of Transportation (DOT) rang the ceremonial closing bell at the New York Stock Exchange on Friday, August 20, to promote awareness of underground utilities through the use of the national 811 call-before-you-dig phone number. Though awareness and use of 811 has significantly decreased the number of underground utility strikes in the U.S., the fact that there are still fatalities and damages from hitting gas and utility lines underscores the need for a continued safety campaign.

"It's not enough that the number of strikes has decreased in each of the last five years, because even one strike is too many," said Bob Kipp, president of the CGA.

In 2004, it was estimated that there were 450,000 instances of damage from striking underground lines. However, as a result of the work of CGA and its many supporters, that number has decreased by over 60 percent to 170,000 damages in 2009.

"Through our support of CGA and 811, we strengthen our commitment to our customers. Our customers are our first focus and this initiative saves lives," said Michael Mack, worldwide president, John Deere Construction & Forestry.

"Beyond personal safety concerns, the potential property damage, inconvenient service outages and the hefty fines to equipment operators resulting from digging accidents makes the 811 service incredibly valuable."

To further encourage safe digging, John Deere is also sharing portions of safety videos on YouTube beginning next month. The first video, featuring excavators, will be posted at http://www.YouTube.com/JohnDeere.

The FCC-designated 811 number was launched in 2007 by the CGA to eliminate the confusion of multiple call-before-you-dig numbers that were being used across the country. As a result, homeowners, farmers and contractors can call one easy-to-remember number to have crews mark a requested site for underground lines prior to any excavation.

Deere helped spread the word when the 811 number was first established in 2007 and has also been a driving force behind National 811 Day (each August 11) and the "Safe Digging Month" awareness campaign that occurs each spring. In addition to including information about 811 on its website, the company has featured the 811 logo prominently in its advertising and as part of its booth display during some of the construction industry's most prominent trade shows.

The DOT's Pipeline and Hazardous Material Safety Administration Administrator, Cynthia Quarterman, was also on hand at the bell-ringing event to lend support.

About John Deere

John Deere is a world leader in providing advanced products and services for agriculture, forestry, construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment.

Since it was founded in 1837, the company has extended its heritage of integrity, quality, commitment and innovation around the globe. John Deere Construction equipment & Forestry produces more than 120 machine models and distributes its construction, forestry and worksite products through a network of more than 1,300 dealer locations worldwide. For more information, visit www.JohnDeere.com.

About CGA

The Common Ground Alliance is a national association created to prevent damage to underground utility infrastructure and ensure public safety and environmental protection. It has designated each April as "National Safe Digging Month."