In 1837, John Deere laid the foundation for his business —- Deere & Company — with the development of a self-cleaning steel plow in the US State of Illinois. Today, the company is regarded as the global market leader in agricultural engineering. The brand‘s excellent reputation is partly based on John Deere’s conduct during the world economic crisis. The farmers facing bankruptcy were given extra time to pay their installments, instead of having their tractors taken away. Even though this brought him close to the brink of collapse, it enhanced John Deere’s prestige throughout the rural population which is still evident today.