You are browsing the archive for 2010 July 06.

Last week’s drier conditions too late for some crops

4:51 pm in economy, business and finance by Dave DeWitte

Drier conditions prevailed across much of Iowa last week, but not soon enough to help some farmers’ crops.

Iowa received an average of 1.11 inches of rainfall last week, just over the weekly norm of 1.02 inches, according to the weekly Iowa Crops & Weather report from the National Agricultural Statistical Service.

Farmers had 4.6 days suitable for field work, the highest number since the week ending May 30, the report said.

Iowa Secretary of agriculture Bill Northey welcomed the drier weather, but added that “unfortunately it was too late for some farmers that have had crops drowned out.”

“The additional rain over the past weekend has made additional flooding a real threat, especially in Southern Iowa, which has been hardest hit by the extremely wet weather this June,” Northey said.

In low-lying fields where ponding occurred, corn and soybeans have been stunted or completely drowned out, according to the weekly crop report.

“Many places where crops were killed have already been replanted, however sections that are still too wet may not be able to be replanted,” the report said.

Corn and soybeans are mostly in good condition otherwise, the report said, with early-planted corn beginning to silk.

The condition of Iowa’s corn crop was rated 4 percent very poor, 8 percent poor, 23 percent fair, 47 percent good and 18 percent excellent.

The soybean crop of the state was rated 4 percent very poor, 8 percent poor, 24 percent fair, 49 percent good, and 15 percent excellent.

Nearly all of the state’s oat crop has headed and 52 percent has turned color, compared to a five-year average of 41 percent turning color at this date.

Temperatures in Cedar Rapids averaged three degrees lower than normal for the week, and precipitation at Cedar Rapids was 0.91 inches below normal, at 0.11 inches.

Temperatures in Iowa City averaged 4 degrees cooler than normal. Iowa City received 0.10 inches of rainfall, or 1.02 inches below normal for the week.

Deery Brothers, Eads, buy Iowa City Ford dealership

1:14 pm in economy, business and finance by Dave DeWitte

UPDATED JULY 7 TO ADD THAT JON BELL HAS ALSO SOLD LISBON USED CAR DEALERSHIP.

The former Chezik-Bell Ford Lincoln dealership is Deery Brothers Ford Lincoln of Iowa City after being sold last week.

Jon Bell sold the dealership to Brad Deery, Dan Deery, Jon Deery and Patrick Eads effective Thursday, according to Eads, who services as dealer, principal and general manager. The four are equal partners in the dealership.

The new owners will retain the existing staff of about 35, Eads said. They plan to expand the existing inventory of new and used cars by 30-35 percent in order to provide a better selection.

Eads was general manager of McEleney Autoplex in Iowa City and a minority owner before that dealership was sold to Billion Automotive in December 2009. He was looking for another dealership opportunity that would enable his family to remain in the Iowa City area. A Ford dealership was at the top of his list, Eads said.

“Mr. Bell was wonderful to work with,” Eads said. “He wanted it to remain in local ownership.”

Terms of the sale were not disclosed.

The three Deery brothers come from a family with a 101-year history in auto dealerships, Eads said, and have existing dealerships in Waterloo, Cedar Falls and Clinton.

“They are known very well thoughout the state and have a very good rapport with the manufacturers,” Eads said.

Eads said the Iowa City dealership’s number one goal is customer satisfaction.

“My goal is that everyone who buys a vehicle knows that if there’s a question, if anything arises, if there’s a misunderstanding, they’ll know that Patrick (Eads) is right here on the dealership,” he said.

Bell became the sole owner of the Ford-Lincoln dealership at 2343 Mormon Trek Blvd. in January when he acquired the remaining 50 percent interest of his longtime partner, John Chezik of Kansas City.

Bell also acquired Chezik’s interest in Iowa Automotive Holdings, a company that owns property leased by Billion Honda in Iowa City, an Enterprise Rent-A-Car dealership in Cedar Rapids, a used-car dealer in Lisbon, and other properties.

The Lisbon used-car dealership, Wholesale Auto Outlet, was subsequently sold to Ray Wasek LLC in February.

Terex cleared in crushing equipment antitrust probe

9:32 am in economy, business and finance by Dave DeWitte

The United States Department of Justice won’t charge Terex Corp. in connection with a recent antitrust investigation of practices in the rock crushing equipment industry, according to the company.

Terex Corp. said on Tuesday, July 6, that it had been informed of the justice department decision not to pursue charges or fines against it.

Terex Chairman and CEO Ronald DeFeo said the company cooperated fully with the government investigation and is pleased the matter has been brought to a conclusion without further action.

Terex Corp. is the owner of Terex Cedarapids, which manufactures rock crushing and paving equipment. The company is relocating its Terex Cedarapids manufacturing operations to another plant in Oklahoma, and phasing out its local operations.

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Contact the Business Editorial Staff

Michael Chevy Castranova, business editor, 319-398-8469
Dave DeWitte, 319-398-8317
George C. Ford, 319-398-8366

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