12:05 AM AKST, February 8, 2013
RDO Equipment Co. announces a number of promotions and a realignment of responsibility on the leadership team.
The following promotions in agriculture regions are announced: Keith Kreps and Ryan Offutt have been named
Executive Vice Presidents; Steve Connelly has been promoted to Vice President of Midwest Agriculture; and Davin Peterson has been promoted to Vice President of Western Agriculture.
Commenting on the promotions, Christi Offutt, CEO, said, I want to thank all of our employees for their hard
work and dedication these past couple of years. We have not only grown our business, we have built a stronger
company for all of our stakeholders. These promotions reflect the exceptional contributions these individuals
have made and will make in the years to come.
As Executive Vice President, Keith Kreps will be responsible for all Agricultural regions and support the Australian partnership by serving on the Vanderfield board of directors industry in management roles and five y ears owning his own business. He currently serves as an officer on the North Dakota Implement Dealers Board of Directors.
As Executive Vice President with responsibility for the company's international partnerships, Ryan Offutt will be
responsible for the company's Russian and Ukraine operations and will chair the Vanderfield board of directors.
He joined the organization in 2003 as Director of Human Resources and Communications, eventually assumed
additional responsibilities related to the company's expansion in Russia, and in 2006 was named Vice President
International Business. Prior to RDO Equipment Co., Offutt worked at the Woodrow Wilson center for
International Scholars. Offutt received his degree from Reed College.
As Vice President of Midwest Agriculture, Steve Connelly will be responsible for agriculture stores in Minnesota,
North Dakota, and South Dakota. He has worked for RDO Equipment Co. for nearly 10 years, most recently
serving as General Manager for seven stores in the Red River Valley. Prior to RDO Equipment Co. he was an
instructor at Moorhead High School as well as the head football coach. Connelly received his undergraduate
degree from Concordia College and a master's degree from South Dakota State University. He currently serves on
the Minnesota Agriculture in the Classroom (MAITC) Foundation Board of Directors.
As Vice President of Western Agriculture, Davin Peterson will oversee agriculture stores in Arizona, California,
Oregon, and Washington. Peterson has nearly 20 years with RDO Equipment Co. and has served in many
capacities, including Parts Manager, Store Manager, Regional Sales Manager, and most recently, General
Manager of Northwest, overseeing operations in Washington and Oregon agriculture locations.
Learn more about RDO Equipment Co. at http://www.rdoequipment.com.
Farm lending soars as operating costs grow
OMAHA, Neb. (AP) - American farmers and ranchers were borrowing more at the end of last year as their operating expenses and feed costs increased.
The Federal Reserve says farmers and ranchers nationwide borrowed $94.7 billion in the fourth quarter. That's up from $54 billion the previous year.
The Fed says farmers were borrowing more to buy farm equipment, and some farmers were pre-paying for seed and fertilizer they'll use this year.
Livestock operations were borrowing more because feed and livestock costs increased.
Economists with the Federal Reserve Bank of Kansas City produced the quarterly report based on national lending data.
The Fed says the fourth-quarter borrowing was also spurred by a rush of year-end spending ahead of possible tax law changes.
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