Reviving John Deere

How the CEO of the green tractor maker whipped the 170-year-old company into shape and doubled net income.

FORTUNE, October 15, 2007 — When a company has been around as long as John Deere - 170 years, to be exact - it enjoys a rich history and, in the case of the Moline, Ill., firm, loyal customers who "bleed green." But a company that old can also get set in its ways - and bad habits can seep in.

When CEO Bob Lane took the wheel of the farm equipment giant in August 2000, he quickly identified Deere's biggest problem: spending too much money to make money. Factories tended to overproduce, churning out a steady level of product no matter what the season or the demand. Its results were inconsistent:

Deere's Revolution On Wheels

Harvesting cutting-edge technologies, an old-economy business is rolling out one of the biggest advances in farming in half a century

BusinessWeek, July 2, 2007 — A lifetime ago, Deere & Co. (DE ) was leading the revolution in American farming as its iron machines replaced man and animal in the field. Today, concedes Deere Chief Executive Robert W. Lane, the 170-year-old company is often dismissed as "a museum piece."

John Deere Homes add new wrinkle

Associated Press, June 24, 2005 — evelopers building a slice of suburbia in the piney woods here have partnered with tractor-builder John Deere in an unusual marketing deal they both hope will lead to improved sales.