Bob & Betsy - USN Ret'd '78 & FL LEO Ret'd '03 FMCA #F203528 '05 HR Endeavor, 40PRQ (Our Home) w/400 Cummins - With -'05 GMC Sierra SLT, CC Z-71, the pusher- With -
'07 Arctic Cat 500A & Wilderness Kayak, riding in the pusher - Our Current Location
JUNCTION CITY, Ore. (AP) - A privately held Oregon recreational vehicle manufacturer took the unusual step this week of going public with the drastic steps it has taken to stay in business during the economic downturn.
Country Coach said it has cut its work force in half, obtained a $6 million infusion of capital from investors and borrowed $11 million.
Country Coach also said it reduced its inventory of RVs to 10, allowing it to bring back some workers it had laid off.
Country Coach officials said they put out the news release because of "an overall decrease in confidence in RV manufacturing" among employees, dealers and the public.
RV companies are suffering through the worst industry slump in decades, with shipments off 50 percent from last year.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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P.S. I was by there (Junction City, OR) a few weeks ago and yes it was rather quiet. In speaking with some friends there, I understand they have been closing down for a week or two at a time on a staggered schedule. I am sure that this is only another example of the times. I wish them well (we need all the competition in high line coaches we can get).
"Twenty years from now you will be more disappointed in the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover." --Mark Twain
Yes this is sad. Consider they bought the company for 31 million this is quite an infusion. They have deep pocketed investors who have to protect the investment.
If this downturn lets up then they will be ok but if it goes much beyond 6 month then I worry for many companies.
John
2001 42' Foretravel U320
2007 Bornfree 24 Painted
2001 Jeep Wrangler
2007 Burgman 650 Executive
Susie and Dolly (Cavalier King Charles Spaniels)
Dolly now in our hearts and thoughts 8-27-05
Doodle a Black and Tan Cavalier
Lolly a Ruby Cavalier
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