Right now, farmers are being penalized for wanting to grow chicory and other crops because there isn't insurance on non-traditional crops. If the farmer goes to the bank, even the banker won't back the idea.
More Quotes from John Hanson:
The capacity expansion project for PH Mining which was approved by our board in May will not be completed until the end of fiscal 2006. The only other new capacity that will be coming on line in the next 12 months is the shuttle car and motor centers of excellence for Joy Mining in Lebanon, Kentucky, though, for the most part, Joy Mining is constrained by supply chain limits rather than internal capacity. Therefore, it is imperative that our critical suppliers support us as we strive for increased revenues. Assuming that progress can be made in this area, we now believe that total revenues in the coming 12 months will be in the range of 2.15 to 2.35 billion.John Hanson
You get what you set out to do.
John Hanson
Third quarter results continued our strong operating performance trend, ... New orders exceeded 540 million in the quarter, despite Joy Mining experiencing a 62 million decline in roof support orders from the same quarter last year. Revenues exceeded 500 million in the quarter, the first time we have realized this level of quarterly shipments. Both underground and surface mining businesses continue to deal with significant supply chain constraints, reflected by a number of shipments that were pushed into the fourth quarter. Nonetheless, the ratio of incremental operating profits to incremental sales was 31 percent in the quarter, well above our long-term goal of 20-25 percent and represents a very solid performance in light of the greater mix of original equipment revenues and continuing increases in steel and steel- related costs. Conditions in our end markets continue to point to an extended, strong global mining cycle. We face the challenge of increasing capacity to meet demand, while managing a tight supply chain. Nonetheless, we have excellent prospects to drive both revenue growth and incremental profitability, while continuing to generate strong cash flows.
John Hanson
We continue to perform very well in controlling costs and driving operating improvements. Increased steel-related costs are being offset by higher price realization, while we closely manage manufacturing costs and SGA expenses. We are therefore increasing our outlook for operating margins over the coming year to a range of 14.6 to 15.5 percent of sales from the previous outlook averaging 13.3 percent.
John Hanson
We believe that we will continue to experience incoming order rates in excess of quarterly revenues for several quarters, although quarterly bookings will remain volatile. Critical to our success will be the ability to meet the needs of our major customers, alleviate the supply chain constraints restricting revenue growth, and drive increasing operating margins at higher business volumes.
John Hanson
There were some scary moments.
John Hanson
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The album is a definite departure. I haven't written original material before, except for one song on my first album, but Elvis and I did six songs together on this one.
Diana Krall
But truth is most likely to be exhibited by the general sense of contemporaries, when the feelings of the heart can be expressed without suffering itself to be disguised by the prejudices of man.
Mercy Otis Warren
If you will call your troubles experiences, and remember that every experience develops some latent force within you, you will grow vigorous and happy, however adverse your circumstances may seem to be.
John Heywood