August 2022 Edition

CE Fair Market Values Flat, But Higher vs. Past Years

On the auction side, average FMV is up 17.3% above July 2021, and 2.3% above June 2020. At the start of the year, there was hope that rapid inflation would be in the rearview by the mid-year mark. For the first six months of this year, we’ve seen average resale values for construction equipment remain relatively flat, even trending down slightly in some months. In July, average FMV was down 0.7% compared to the previous month. However, due to the 6% spike in prices in January, average resale values are still considerably higher than previous years. Average FMV for construction equipment was up 4.8% compared to June 2021, and 9.5% above June 2020. READ FULL REPORT>>

‘The Drive’: Hacker Gains Access To Tractor Diagnostics With New John Deere Jailbreak

Right to Repair plot thickens as hacker “Sick Codes” demonstrated full root access to multiple John Deere touchscreens in a talk at DEFCON this month. An Australian hacker known as Sick Codes has developed a new jailbreak for John Deere tractors, as reported by Wired. Sick Codes was able to trick John Deere tractor touchscreens into thinking they were being accessed by a certified dealer. This allows access to machine logs stored on a tractor’s touchscreen computer, which can be used to diagnose and repair problems. Editor’s Note: Stay tuned – IEDA is interviewing this Aussie in Bangkok to find out what this could mean to CE Right to Repair.READ FULL ARTICLE>>

IEDA Member Rick Newman Hosts Christian Camp for Special Needs Youth

A Young Life ministries camp, ‘Capernaum,’ creates memorable day-camp experience for special needs teens and young adults. Rick Newman, owner of Newman Tractor, opened up his farm in Northern Kentucky to host a Young Life camp for special needs teenagers and young adults this summer. According to the camp’s FaceBook page, “Capernaum is a ministry through Young Life designed for people with disabilities to share the love of Jesus Christ with them.” Watch the inspiring video here: Newman, who also gave financial support for the week-long event, provided this description: “Northern Kentucky Capernaum is an organization focused on making Jesus known to people in the disability community. NKY Capernaum serves teens and young adults with disabilities through hangouts, overnight camp, day camp and small group Bible studies. It is a place where there is freedom to dance like nobody’s watching and experience full joy and life with the Lord. “Our friends find deep and loving friendships at Capernaum. NKY Capernaum uses an inclusive model for ministry and asks high school peers to come serve as buddies at events where friendships are formed and barriers are broken. Leaders step into the lives of students, eating meals together, attending sporting events, learning about their favorite hobbies, and much more. “Capernaum and the team of leaders measure success by students coming to know Jesus in their own personal way.”  

Sandhills Global Market: Growing Gap Between Asking and Auction Values

Auction values remain above historic trends. With values in transition across equipment and trucking industries throughout Q2 2022, the newest market reports from Sandhills Global take a deeper look at the growing gap between asking and auction values within Sandhills marketplaces. Data for July shows asking values for heavy-duty trucks and semi-trailers at 61% and 62% above auction values, respectively. “Fleet truck auction values have dropped significantly from April,” explained Mitch Helman, sales manager at Sandhills Global. “Despite the massive decrease, auction values remain above historic trends and are 22% higher than last July.” READ FULL REPORT>>

How Not To Impress People in a Restaurant

When you’re in public, you’re always ‘on,’ so mind your manners and watch what you say.By Troy Harrison A few days ago, I was having lunch with a good friend.  Just as we were seated, a man at a table about ten feet away started a phone call. I couldn’t tell whether he was the recipient or the dialer. He was wearing a very nice polo shirt embroidered with the name of his company, which was locally owned. My friend and I overheard his conversation. We weren’t eavesdropping; we couldn’t help it. Neither could a few other groups around us. That’s how loudly he was talking. READ FULL STORY>>

Associated Builders and Contractors: House Passage of Democrats’ Reconciliation Package Fails Job Creators and Hardworking Taxpayers

Contractors that use industry-recognized apprenticeships will be put at a serious competitive disadvantage when it comes to winning contracts for critical energy projects. On August 12, Associated Builders and Contractors released the following statement after the U.S. House of Representatives passed Senate Democrats’ $740 billion tax-and-spend bill: “Democratic lawmakers now own the consequences of sending this radical bill to the president’s desk, including potential economic fallout, additional inflation, more workforce shortages and high materials prices that we could see in the near future,” said Kristen Swearingen, ABC vice president of legislative & political affairs. “It imposes anti-growth tax policies and injects hundreds of billions of federal dollars into the economy at a time when we are facing record-high inflation. READ FULL STORY>>

Builder Confidence Underwater After Falling for Eighth Consecutive Month

More home builders currently rate sales conditions as poor than those who rate conditions as good. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) fell six points in August to 49. This past month’s drop marks the eighth consecutive decline for the HMI and marks the first time since May 2020 that this closely watched index has fallen below the key 50 breakeven level, which indicates that more home builders currently rate sales conditions as poor than those who rate conditions as good. READ FULL STORY>>

Excavators: First Wave of Electrification

‘Construction Equipment’ magazine reports: Fully electric small excavators made up 5 percent of the U.S. market in 2021, and this is expected to rise to 15 percent by 2029. Mini excavators have become a part of many job sites and a staple in most OEM’s offerings due to customers recognizing good production for their size, their maneuverability, and transportability. The machines are also easier to manufacture and power simply because they are small. These factors—plus frequent applications indoors or close to inhabited homes and buildings where noise and emissions are frowned upon or prohibited—have made them prime candidates for electrification. READ FULL STORY>>