Latest news with #Jepsen
Axios
5 days ago
- Business
- Axios
John Deere sales suffer as tariffs, crop prices hit hard
Higher tariffs and lower crop prices are dampening demand for John Deere equipment as the company says many of its customers "remain cautious" about the economy. Why it matters: Deere serves as a reflection of the health of the American agricultural sector and construction industry. By the numbers: The company reported a 9% decline in quarterly revenue to $12 billion and a 26% decline in net income to $1.29 billion. It also projected $600 million in pretax costs from tariffs for the year, largely due to trade with Europe and India, as well as duties on steel and aluminum. Overall, the company lowered the high end of its profit outlook for the year by $250 million. On the demand side, Deere said customers are "waiting and seeing" on a clearer picture of their end markets as tariff rates settle. The persistence of lower commodity prices also continues to crimp customers' margins, investor relations director Josh Beal said on the company's earnings call Thursday. Those uncertainties "have made farmers increasingly cautious in spending decisions and more hesitant to accept higher machinery prices," CFRA Research equity analyst Jonathan Sakraida said in a research note. Between the lines: Deere was not able to make up for the tariffs with price increases. In fact, prices fell. Prices declined in the construction and forestry segment and in the large agricultural segment, CFO Joshua Jepsen said on the call. In the large agricultural segment, the price decreases were "primarily driven by actions taken to address used inventory in North America," Jepsen said. On the construction side, Jepsen cited competitive pressure in the North American earthmoving market for the need to be aggressive on pricing.
1News
7 days ago
- Politics
- 1News
Fury as ministry cans kids book for too many Māori words
The Education Ministry has canned a reader for junior children because it has too many Māori words, infuriating Te Akatea, the Māori Principals' Association. The association's president Bruce Jepsen said the decision not to reprint At the Marae was racist and white supremacist. The ministry told schools At the Marae, did not fit the sequence that young children were now taught to decode words using the structured literacy approach. However, it had been re-sized into a "big book format" that teachers could use to read with pupils. "The decision was guided by phonics sequencing and decoding suitability, rather than a defined word-count threshold," the ministry told RNZ. ADVERTISEMENT A page from At the Marae. (Source: Screenshot/Ministry of Education) "Unlike other titles in the series, which typically include no more than three kupu Māori (excluding character names), At the Marae featured six different kupu Māori. While these words reflect everyday language used in classrooms and communities, the higher number presented decoding challenges within the phonics sequence used in the series." The ministry said decisions about reader suitability were made through "a collaborative review process involving literacy experts, educators, and cultural advisors". "This makes sure resources are developmentally appropriate, culturally responsive, and aligned with the principles of structured literacy." Jepsen told RNZ he did not accept the ministry's reason for ceasing new prints of the book. "It sounds like a real poor excuse for a really poor decision," he said. "Make no mistake, our members see this move as an act of white supremacy. It's an act of racism. It's a determined act to recolonize our education system, and it sends a very dangerous message and is immensely harmful and it's utterly shameful." ADVERTISEMENT A page from At the Marae. (Source: Screenshot/Ministry of Education) Jepsen said he had not had time to complain to the ministry about the decision because his phone would not stop ringing with calls from principals who were outraged and devastated by the news. "Our members view this as a blatant attack on our language, dismissal of our culture, and an assault on our identity as Māori," he said. "Our members liken this decision to the introduction of the Education Ordinance Act of 1847 and the Native Schools Act of 1867. Both of these oppressive acts of colonisation sought to eradicate te reo Māori in schools, and we see the removal of books that carry our language as being exactly the same." Jepsen said books like At the Marae showed educators' commitment to the Treaty of Waitangi and to an anti-racist, decolonising and equity-focused way of teaching. A page from At the Marae. (Source: Screenshot/Ministry of Education) A school principal and member of the Aotearoa Education Collective, Lynda Knight, said children used readers in group sessions, at home and for independent reading so they were likely to spend more time with those than with the "big book" versions. ADVERTISEMENT She said At the Marae should be reprinted as a reader. "The Māori words that are in the book are all very common words heard in New Zealand everyday life and our kids should know them," she said. They're words like karanga, wharenui, koro, hongi and karakia and kai. So I struggle to actually understand why they would be too hard for children to read when they're part of their lived experience anyway."
NZ Herald
08-08-2025
- Politics
- NZ Herald
Education Ministry cans children's school book for too many Māori words
'The decision was guided by phonics sequencing and decoding suitability, rather than a defined word-count threshold,' the ministry told RNZ. 'Unlike other titles in the series, which typically include no more than three kupu Māori (excluding character names), At the Marae featured six different kupu Māori. While these words reflect everyday language used in classrooms and communities, the higher number presented decoding challenges within the phonics sequence used in the series.' The ministry said decisions about reader suitability were made through 'a collaborative review process involving literacy experts, educators, and cultural advisers'. A page from At the Marae. Photo / Ministry of Education 'This makes sure resources are developmentally appropriate, culturally responsive, and aligned with the principles of structured literacy.' Jepsen told RNZ he did not accept the ministry's reason for ceasing new prints of the book. 'It sounds like a real poor excuse for a really poor decision,' he said. 'Make no mistake, our members see this move as an act of white supremacy. It's an act of racism. It's a determined act to recolonise our education system, and it sends a very dangerous message and is immensely harmful and it's utterly shameful.' Jepsen said he had not had time to complain to the ministry about the decision because his phone would not stop ringing with calls from principals who were outraged and devastated by the news. 'Our members view this as a blatant attack on our language, dismissal of our culture, and an assault on our identity as Māori,' he said. Jepsen says books like At the Marae showed educators' commitment to the Treaty of Waitangi. Photo / Ministry of Education 'Our members liken this decision to the introduction of the Education Ordinance Act of 1847 and the Native Schools Act of 1867. Both of these oppressive acts of colonisation sought to eradicate te reo Māori in schools, and we see the removal of books that carry our language as being exactly the same.' Jepsen said books like At the Marae showed educators' commitment to the Treaty of Waitangi and to an anti-racist, decolonising and equity-focused way of teaching. A school principal and member of the Aotearoa Education Collective, Lynda Knight, said children used readers in group sessions, at home and for independent reading so they were likely to spend more time with those than with the 'big book' versions. She said At the Marae should be reprinted as a reader. 'The Māori words that are in the book are all very common words heard in New Zealand everyday life and our kids should know them,' she said. 'They're words like karanga, wharenui, koro, hongi and karakia and kai. So I struggle to actually understand why they would be too hard for children to read when they're part of their lived experience anyway.'
Yahoo
16-05-2025
- Business
- Yahoo
Deere details $500M tariffs impact
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. By the numbers: Q2 earnings Sales and revenue: $12.76B 16% decline YoY Net income: $1.8B 24% decline YoY Earnings per share: $6.64 Compared to $8.53 per share in Q2 2024 Deere & Co. is bracing for a $500 million tariff impact on its farm and construction equipment operations this year, executives said on an earnings call Thursday. The Moline, Illinois-based company incurred tariff-related expenses of $100 million in the second quarter, and expects those costs to be close to $400 million for the rest of the year, CFO Josh Jepsen said on the call. The forecast is based on tariffs in effect as of May 13, including the reduction in reciprocal and retaliatory rates between China and the United States set earlier this week. Deere, like other companies, is actively monitoring the tariffs situation and taking steps to mitigate their effects. Recently, Deere certified goods and components that were previously ineligible for free trade under the U.S.-Mexico-Canada Agreement, Jepsen said. The supply chain team is also working to optimize global trade flows and monitor component sourcing. In terms of pricing actions, given that most of the order books are full for 2025, Jepsen said 'there's not much opportunity.' However, Deere is evaluating price increases for its 2026 equipment. 'We are doing so being very mindful of the dynamic environment and the pressures our customers have had to deal with over the past few years,' Jepsen said. Looking ahead, Deere widened its full-year guidance, citing near-term market challenges and ongoing trade uncertainty. The company reported a net income range between $4.75 billion and $5.5 billion, reflecting a downward revision of $250 million compared with its previous forecast. In terms of tariffs, Deere is expecting most of the $500 million headwind to impact its construction and forestry operations, which are more exposed to China than its agriculture operations. According to a company presentation, nearly 80% of its goods sold are assembled in U.S. manufacturing facilities. Deere has more than 60 locations across 16 states. In addition to trade headwinds, Deere has been navigating a downturn in the market as high interest rates and economic uncertainty slow demand for heavy machinery purchases like tractors and bulldozers. However, things may be starting to turn around. Despite historic levels of volatility, Chairman and CEO John May said the company performed better than expected as Q2 sales and revenues rebounded from the previous quarter. Results doubled over the period. Deere attributed the higher sales, in part, to stronger farm balance sheets as the U.S. government distributes $10 billion in emergency payments to farmers following a poor 2024 crop year. The company is expecting increased farm liquidity and more stable crop prices to help mitigate tariff effects for the remainder of 2025. 'In the near term, we'll continue to proactively manage what we can control — cost, production, inventory and quality — to navigate this environment while driving the margins that fuel our investments in the future,' May said on the call. Deere is prepared to spend $20 billion in the U.S. over the next 10 years, May said. While no specific details were disclosed, the company is looking to invest in new product development, the latest technologies and advanced manufacturing. 'As we look forward, we're more excited than ever about the opportunities ahead,' May said. Recommended Reading Tractor makers CNH, Agco face sales headwinds amid economic slowdown Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
24-04-2025
- Entertainment
- Express Tribune
It's official: ‘10 Things I Hate About You' is becoming a Broadway musical
More than two decades after its cinematic debut, the beloved romantic comedy 10 Things I Hate About You is getting the Broadway treatment. The musical adaptation will be led by none other than singer-songwriter Carly Rae Jepsen and writer-director Lena Dunham, marking a highly anticipated collaboration between two creative powerhouses. Jepsen, 39, broke the news on Instagram with a joyful post that read, 'I can tell you 10 things I'm excited about right now or just skip to number one which is working on this dream project with this dream team! #10ThingsMusical.' The 1999 film, which stars Heath Ledger, Julia Stiles and Joseph Gordon-Levitt, was itself based on William Shakespeare's The Taming of the Shrew. Over time, it has become one of the most cherished teen films of the late '90s, thanks to its sharp writing, iconic performances and enduring themes. The film also inspired a short-lived 2009 television reboot on ABC. For the musical version, Jepsen will join forces with longtime collaborator Ethan Gruska to write the score. Dunham, known for her Emmy-winning series Girls, is co-writing the script with playwright Jessica Huang. The production will be directed and choreographed by Christopher Wheeldon, who is widely acclaimed for his Tony Award-winning work on MJ: The Musical and An American in Paris. The news of this Broadway adaptation has already sparked excitement among fans of both the original film and the creative team behind the stage version. While no opening date has yet been announced, anticipation is high for this reimagined version of a cult classic.
