| Author | Message | ||
| Mark Renner (Boomer)
Registered Member Username: Boomer Post Number: 155 Registered: 11-2006 Posted From: 206.58.200.38  Rating: N/A |
Country Coach announced the firing of 460 employees. They filed bankruptcy in March. See story at www.oregonlive.com. Also, it was announced that International (Navistar) was attempting to buy out what remains of Monaco Coach. I think it was something like $50 million. A friend of mine bought a new Holiday Rambler 5th wheel last summer. When he got home from his first trip in Feb. the floor was buckled and ruined. Guess what? Monaco had gone bankrupt, so no warranty. I feel for anyone who has bought new equipment from these companies expecting to have factory warranty coverage. | ||
| Chuck Newman (Chuck_newman)
Registered Member Username: Chuck_newman Post Number: 313 Registered: 1-2005 Posted From: 99.170.67.63 Rating: N/A |
I had not heard Monaco went bankrupt (Chapter 7??--Chapter 11??), but I do know Country Coach has been in trouble for at least 10 years. As I recall, I think they did a Chapter 11 in the late 90's, about the time SMC (Safari and Beaver) dissolved and were integrated into Monaco. That's why the three models all look alike since about 2000. Having visited a poorly attended RV show in Sacramento last week to check out the really poor construction you get for several hundred thousand dollars, and constantly for years reading / hearing about owner's repair / warranty fiascoes (having lived a few myself), this economic situation has inadvertently renewed our bus construction spirit that had been lagging for a few months. I guess every dark cloud has a silver lining. | ||
| john w. roan (Chessie4905)
Registered Member Username: Chessie4905 Post Number: 1390 Registered: 10-2003 Posted From: 71.58.110.9  Rating: N/A |
Take a look out on the interstates.At least around here, seeing a motor home or coach conversion is rare anymore. $4.00 gas and $5.00 dollar diesel sure killed that industry. Now that fuel prices are down so much, but not to previous levels, some are thinking about using their motor homes more. BUT the financial markets are talking about oil going back up as if it would be good to the markets. Like it or not, if oil prices stay low, things will slowly improve, but if they climb back to last years level or even close, we're going to be in this recession for many years.Yeah, we're too dependent on imported oil, but the world runs on oil. Planes, boats, ships, railroads, trucks, cars, houses, motorhomes, powerplants, etc. nothing is going to takes it's place for many years. Talk about homes losing value, what about those people that used their retirement to buy a 4 to 5 hundred thousand dollar motorhome two to three years ago and now don't drive it and it is worth 1/4th of what they paid. I won't even get into boats; ask F Fred about them. I'm sure many more RV mfg'rs will go under before the year is over. | ||
| Clint Hunter (Truthhunter)
Registered Member Username: Truthhunter Post Number: 110 Registered: 1-2009 Posted From: 24.129.235.190  Rating: N/A |
Well any good bus nut "oddtooknow" they should have only payed $100,000 for there off the shelf Coache and use the other 300 to $400,000 on fuel. Poor suckers ! Just like me poor but with wheels under the bed ! | ||
| john degemis (Degemis)
Registered Member Username: Degemis Post Number: 55 Registered: 3-2008 Posted From: 71.92.155.232  Rating: N/A |
It is not surprising though it is sad that people are losing jobs. Also when the RV industry is strong it is good for coach owners like us. There are more campgrounds that can accommodate a big bus today than ever before. A lot of money has lead to product innovation that we benefit from. On the up side I hope to be able to get some nice stuff to finish my coach at reduced prices. But all in all I would rather see the industry prosper. | ||
| Clint Hunter (Truthhunter)
Registered Member Username: Truthhunter Post Number: 114 Registered: 1-2009 Posted From: 24.129.235.190 Rating: N/A |
i would like to see that end of the industry prosper too , with much the same logic jd. I wounder how much more stable all those collapsing hollow pyramid corporations would still be if they had not over inflated there stock and use the money for actual investment rather than stockateering. Build real or buy fantasy, the consequence are what you earn, but the deferment of accountability on tomorrow's tax payer is, well societal suicide by informed consent ! |