| 2ND UPDATE: Deere's Net Up 52%; Shares On The Rise, Bucking Street Trend
NEW YORK (Dow Jones) -- Deere & Co.'s fourth-quarter earnings jumped 52%, fueled by currency benefits from overseas sales and by a boost in prices for its equipment, the company said Wednesday. For the quarter ended Oct. 31, the Moline, Ill.-based company (DE) reported that net income fattened to $422.1 million, or $1.88 a share, from $277.3 million, or $1.20 a share, in the final three months of fiscal 2006. Sales were up 20% to $6.14 billion. Results in the recent quarter surpassed analysts' average forecast of $1.52 a share on revenue of $5.27 billion, as provided by a survey from FactSet. Deere shares were nonetheless under pressure in midday trading, shedding a fraction to $145 each, in part because slower-than expected U.S. ethanol production could lead to a decline in planted corn acres next year.
Willis Appoints Paschoal New CEO for Latin America
Willis Group Holdings has appointed Eugenio Paschoal CEO of the Latin American region in a move the broker described as "reinforcing" the importance of the region for its international network, and as underlining "Willis' commitment to ensuring that its international offices receive strong leadership from within the territories." .
LETTERS: Auto town
We need more reporters (Chris Lester, "Two Auto Plants Succeed," Nov. 13, Star Business Weekly) to write about the good things the labor/management partnerships in the Kansas City metropolitan area can do when they work together. The Fairfax plant builds the Saturn Aura, 2007 North American Auto Show car of the year. We are now alongside of the Aura building the Chevrolet Malibu — an all-new car you can't ignore that should get as good, if not better, awards. The UAW has negotiated with General Motors and Ford new four-year agreements that will allow both companies to become profitable. As a result, great products will continue to be built in the Kansas City area for years to come with pride — by union labor. Thousands of jobs were saved in our communities by these agreements.
Strike leads U.S. networks to eye Canadian shows
The ongoing screenwriters strike in the United States has had an undeniable impact in Canada – American shows filming here are shutting down due to a lack of scripts, throwing hundreds out of work amid fears that a prolonged strike could damage the entire North American film and TV industry. But there's been one bright spot on an otherwise bleak horizon: American broadcasters are eagerly eyeing Canadian shows as diverse as Little Mosque on the Prairie, Durham County and The Border, a new CBC drama that premieres in January. "We've actually had inquiries from the U.S. networks about shows that we've either produced or are going into production on, so it's been interesting – they're looking for alternatives," Kirstine Layfield, head of network programming for CBC, said Monday.
September 2007
Alice L. Baumann, 86, of Watertown, died Thursday afternoon, Sept. 27, 2007, at the Watertown Memorial Hospital, from pneumonia, following a major stroke. She was proud to have survived two courageous bouts with cancer.Funeral services will be held on Tuesday at 10:30 a.m. at the Hafemeister Funeral Home in Watertown with the Rev. Ray Bezanson of the Advent Christian Church of Watertown, presiding. Burial will be at the River Road Cemetery in Ixonia.Family and friends may call to pay their respects on Monday at the Hafemeister Funeral Home in Watertown from 5 to 8 p.m. and on Tuesday from 9:30 a.m. until the time of the service. Memorials may be given to the Advent Christian Church or to the charity of choice.Alice was born in Watertown on June 13, 1921, daughter of the late John and Edna (Schroeder) Fredrich.
India's new energy mix
To meet India's 9% GDP growth, its power needs will increase five to six times. Real GDP has grown by over 6.5% in the last five years, but electricity generation has grown only 3.8%, resulting in large-scale shortages. It is estimated that a capacity of over 1 lakh mw has to be added in the next five years to meet the deficit. India possesses about 8.6% of the world's coal reserves. It is the key contributor, with 55% of the country's total commercial energy needs met by coal electricity generation. Coal will continue to occupy a central place in India's energy supply. Natural gas has emerged the most important substitute for energy supply in the 21st century and provides hope for the future. High technology and investment is needed for gas prospecting in the deep waters in the Bay of Bengal.
Pro Ball Slides Home In Texarkana
A big announcement today for baseball fans in the Twin Cities. Texarkana is now home to a professional baseball team. Though the name hasn't been decided, newly announced General Manager, David Farren will soon begin working to assemble the team which is a franchise of the Continental Baseball League. The CBL decided on Texarkana as a new home after an exhibition game this summer. A group of local athletes took on the Texas Heat and laid the ground work which lead to the big announcement. "It's a great thrill but the great thrill for us comes just like when we were here in the summertime, seeing the kids on the field and moms and dads supporting it," says CBL President and CEO Ron Barron of the announcement, "It's been a long journey, putting all the pieces together but now we've got it done and were just going to move forward with it," General Manager David Farren says.
EarthLink rethinks Wi-Fi business
EarthLink dove head first into landing deals for municipal Wi-Fi projects over the past few years. Some of the company's conquests have included contracts for Philadelphia, San Francisco, Milpitas, and New Orleans. Now, Earthlink is beginning to rethink its aggressive plan to get into the Wi-Fi business. .
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