The recession of the 1980s was a chain reaction that affected lives. Farmers were extremely happy with their successes in the 1970s and began to build up a debt in expensive farm machinery. Soon there was an overabundance of grains and the market plummeted. Farmers soon were declaring bankruptcy. Implement companies began going out of business because farmers could no longer pay their debts. Farm equipment manufacturers became overstocked as no one could afford to buy equipment. Many companies folded or merged, but Deere & Company persevered.

    Deere & Company's history has shown both positive and negative results in the Waterloo, Iowa area and the nation. Many people who hear the name John Deere envision a green tractor out in the middle of a midwestern cornfield. But how did this key component of Waterloo's employment base get where it is today? Other questions of importance include; how did a young blacksmith from Vermont bring his company to Waterloo and how were Deere & Company able to survive the 1980s' recession? Perhaps the best way to analyze these questions and others pertaining to Deere & Company is to start from the beginning.