Items Tagged with 'Steve Swartzrock'



Lack of Titling Opens Door to Business Fraud

Former dealer Lee Prunty paid a high price due to a fraudulent situation that he says could’ve been avoided entirely and could ‘still bite someone else again.’ Matthew Larsgaard, dealer association exec, adds his thoughts on lack of titling in farm machinery business.
“Your story should really be about how the sale of any motorized piece of farm equipment should have to have a title,” Lee Prunty told Farm Equipment in an October 2021 phone interview as Farm Equipment revisited the Walterman Implement mess 10 years after its in-depth coverage of how CNH and Titan Machinery unwound the infamous combine roll, bankruptcy and fraud mess left in Dike, Iowa.
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Lee Prunty LinkedIn photo.jpg

‘A Casualty’ of the Fed’s Prosecution of Leon Walterman

15 years after the unraveling of Walterman Implement, Farm Equipment interviews former Illinois dealer Lee Prunty who was sentenced as part of the landmark suit.
In late 2021, 10 years after its in-depth coverage of the 2005 unraveling of Walterman Implement’s (WI) infamous combine roll, bankruptcy and fraud mess left in Dike, Iowa, Farm Equipment reached out to dealers close to the WI situation in the early 2000s. More than one indicated they didn’t know whether what Lee Prunty, president/CEO of Walker-Schork International (WSI) initially got caught up in with Leon Walterman and WI was illegal — or ignorant.
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[Video] A Disturbing Rise in the Number of Credit Denials

A recent trend of credit denial has not gone unnoticed by Vice President Steve Swartzrock of Swartzrock Implement. Noting that he's seen more credit denials in the past six months compared to the past six years. Stating that late payments might be the leading cause of credit reduction, Swartzrock notes that even those farmers with incredible net-worth can still be affected if they continue to miss payments.
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Dealership Minds Summit 2017

[Video] Dealer-to-Dealer Panel: After the Trade-In: Immediate Actions for Getting It Back Into the Market

A salesperson takes a used unit in on trade. Now what? If you don’t have a plan for what happens next — starting that same day — you’re already losing. Experts say having a detailed plan — with accountability — on how quickly the unit is cleaned up and serviced, photographed, listed, etc., will do wonders for inventory turns. During this dealer-to-dealer panel, 4 seasoned dealers will share their internal systems to keep attention on traded equipment and get it back out into the market ASAP.
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For Success After the Trade-In, Preparation Trumps All

Customer transparency and equipment showcasing is key, but according to trade-in experts, most sales are won or lost before customers step into the dealership.
Equipment might get old, but smooth trade-ins at maximum margins never go out of style. With little question about the pitfalls of leaving used machines on the lot too long, dealers tuned in to learn the good, the bad and the ugly of equipment turnover strategies.
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