Economy

Economy & Business news

Deere Wins Trademark Case

Oct 17, 2017
Ag Spray Equipment

Deere and Company has won a trademark dispute with a South Dakota company that makes agricultural sprayers. A federal judge in Kentucky has ruled FIMCO Incorporated, and its brand of Ag Spray Equipment, cannot use John Deere green and yellow on its products.

Illinois Dept. of Commerce & Economic Opportunity

Worried that they might lose an important incentive for economic development, the Illinois Quad Cities plans to re-apply to the state for an enterprise zone. Rock Island County and five cities have had one of these zones for nearly 30 years, and it's due to expire next year.

Whiteside County Economic Development

A warehouse and distribution company from Ohio may boost the economy of Rock Falls and Whiteside County. Robinson Investments, based in the city of Bellefontaine, has bought the former Stanley Black and Decker Plant that's been vacant for nearly eight years.

A well-known investor is going to buy a major stake in Pilot Flying J truck stops and will become a majority owner within about five years. Warren Buffet's company, Berkshire Hathaway, says it will buy 38 percent of the company, and that stake will rise to 80 percent in 2023. 

submitted / Blue River Technology

Cameras and machine learning may eventually save farmers a lot of money on chemicals. They may even help prevent water pollution and reduce the need for genetically-modified seeds. That's according to the CEO of Blue River Technology, a company based in California's Silicon Valley that John Deere just bought for $305 million.

WVIK's Michelle O'Neill reports the acquisition may have wide-ranging effects on agriculture and other industries.

Unemployment continued to fall in the Quad Cities in August, falling from 5.3 per cent last year to 4.5 per cent last month. 

submitted / Jr. Achievement of the Heartland

The Heartland chapter of Junior Achievement needs volunteers to help prepare students for life and the workforce.

WVIK's Michelle O'Neill has the details.

Spokeswoman, Tawnya Hambly, says Junior Achievement of the Heartland is based in Moline but serves 24 counties with around 2,900 volunteers. And anyone can volunteer, from college students to retirees.

The next step in an effort to plan the future of Mercer County will be taken this weekend. The group called Mercer County Better Together will hold an open house on Sunday at the fairgrounds in Aledo.

Unemployment in the Quad Cities fell again in July - from 5.3 per cent a year ago to 4.4 per cent last month - a drop of nearly one full percentage point. 

Michelle O'Neill / WVIK News

John Deere is hiring again at U.S. factories, thanks to improving conditions in markets for farm and construction equipment. This morning, the company announced third quarter earnings of $642 million, or $1.97 per share compared to $1.55 in the same period a year ago. That's a 27% jump.

Worldwide sales and revenue rose 16% to $7.8 billion.

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