WHEN: FRIDAY, SEPTEMBER 7 AT 2:00 PM ET
WHERE: CNBC'S "STREET SIGNS"
The following is the unofficial transcript of a CNBC interview with John Deere Chairman and CEO Robert Lane on CNBC's "Street Signs" today at 2:00 PM ET. All references must be sourced to CNBC.
In the interview with CNBC's Erin Burnett, Lane discusses the strength of the economy in light of today's shocking jobs report, the housing market, the farm sector, global business, and business abroad particularly in China, among other topics.
ERIN: THANKS, AND THE U.S. STOCK MARKET SEEMS TO BE IN TURMOIL, BUT THINGS ARE LOOKING PRETTY DARN GOOD ON THE FARM. LOOK AT DEERE UP MORE THAN 40% SO FAR THIS YEAR AND OUR SPECIAL GUEST ON "STREET SIGNS", CEO AND CHAIRMAN ROBERT LANE. BOB IS WITH US THE ENTIRE HOUR AND COULDN'T BE A MORE FUN HOUR LOOKING AT THE MACHINERY THAT WE HAVE WITH US. BOB, THANKS SO MUCH FOR COMING OUT AND SPENDING SOME TIME WITH US.
BOB: THANKS, ERIN FOR THE INVITATION, GREAT TO BE HERE WITH THE GREAT PRODUCTS.
ERIN: LET'S TALK ABOUT THE ECONOMY, FIRST AND FOREMOST, EVERYONE THOUGHT WE WERE GOING TO HAVE JOBS ADD THIS HAD MORNING AND PEOPLE WERE DEBATING THE STRENGTH OR WEAKNESS OF THE ECONOMY AND THE NUMBER TRULY SHOCKED EVERYBODY. FIRST JOB LOSS IN FOUR YEARS, WHAT'S YOUR VIEW AT JOHN DEERE, ARE WE GOING TO HAVE RECESSION OR IS THIS NUMBER AN ANOMALY.
ROBERT LANE: WHETHER WE'RE GOING TO HAVE A RECESSION OR NOT IS KIND OF ABOVE MY PAY GRADE, BUT I KNOW THERE ARE ASPECTS OF THE ECONOMY THAT ARE UNDER PRESSURE, BUT PERHAPS I COULD BE MOST HELPFUL IN INDICATING CERTAINLY NOT EVERYWHERE. EVEN IN OUR CONSTRUCTION EQUIPMENT DIVISION, NONRESIDENTIAL HOUSING, WE'RE EXPECTING TO BE UP THIS YEAR STILL. THE ECONOMY IN THE U.S. AND THE AG SECTOR IS VERY STRONG, BRAZIL A STRONG, EUROPE IS STRONG, WE EXPECT INCREMENTS IN ALL THESE AREAS.
ERIN: INTERESTING, JOHN CHAMBERS FROM CISCO SAID EARLIER THIS WEEK, THE STRONGEST GLOBAL ECONOMY HE'S SEEN IN HIS LIFETIME, SAYING THE PAST COUPLE MONTHS AND EVERY TIME I SEE HIM I CHECK OUT AND SEE IF IT'S STILL TRUE. DO YOU THINK THAT'S TRUTH FROM WHERE YOU SIT?
LANE: NO QUESTION ABOUT IT, ALL-AROUND, ALL THE CONTINENTS OF THE WORLD, INCLUDING AFRICA WHERE I JUST TRAVELED THROUGH RECENTLY, IT'S GREAT TO SEE, IN ASIA, EUROPE, SOUTH AMERICA, BRAZIL AND ARING TINA AND IN OUR CASE, VERY STRONG, SUGAR CANE, VERY STRONG, IT'S EXCITING TO SEE IT.