If a company is having difficulty getting a lender to float short term paper to them in order to run their day-to-day operations, it is usually a sign that the company has significant underlying financial difficulties and a very unhealthy balance sheet.
I still think it is highly likely that Buffet (Forest River) will offer to buy Carriage. Buffet is famous for doing due diligence quickly and efficiently, then making an offer based on what his gut tells him (IIRC, he offered to buy Forest River over the phone only a day or two after hearing about the company; he previously knew nothing about it). He is also famous for making deals that are very beneficial to Buffet and Berkshire Hathaway, but not very favorable to the company being bought out, if they are in trouble, simply because he is a shrewd businessman and knows that they usually have very few viable options.
I think I read somewhere that Thor offered to buy Carriage last year for $7M. If that is true, and since Buffet has about $40B in cash on hand at Berkshire, it would be a very small deal for him. Also, the purchase price would probably be much less than $7M.
hoopers wrote: I hope somebody picks up the operations, as they made great coaches. I wonder what happened...will all high end coaches slowly go by the wayside?
Interesting thought but is it the high end coaches or smaller manufacturers that are on the endangered list
Makes me wonder how Mobile Suites and Hitchhiker sales are?
I am a vendor to Carriage, DRV, and a few others. DRV (Mobile Suites) is in fine shape and running like a well oiled machine. Carriages demise was NOT from slow sales.
Yes, It is obvious that there was some very negative interference
with this company ....probably from previous employees.
Walked that line - bitter employees can be a menace. Sounds like from the way RV'rs are talking about uhapppy dealers, ifyou have no dealers to move your product your sales are going to plummet.
So maybe previous district managers casued rifts between the dealers and the corp.With a strong objective.
Duramax 2011
2011 Cameo 37resls
"To be just as enthusiastic about the success of others as you are about your own"
duramaxdelight wrote: Yes, It is obvious that there was some very negative interference
with this company ....probably from previous employees.
Walked that line - bitter employees can be a menace. Sounds like from the way RV'rs are talking about uhapppy dealers, ifyou have no dealers to move your product your sales are going to plummet.
So maybe previous district managers casued rifts between the dealers and the corp.With a strong objective.
Two sides to every story. Poorly run company causes bitter employees, or ex-employees. There are reasons people leave a company. Maybe they were fed up and saw the writing on the wall..
B.O.
2011 Big Country 3250TS...2010 Ram CC Laramie 4wd Cummins
15k Super Glide, Firestone Ride Rite, TrailAir Tri-Glide
Michelin XPS Ribs. Just say no to Chinese tires.
Twin Cities Mn.
duramaxdelight wrote: Yes, It is obvious that there was some very negative interference
with this company ....probably from previous employees.
Walked that line - bitter employees can be a menace. Sounds like from the way RV'rs are talking about uhapppy dealers, ifyou have no dealers to move your product your sales are going to plummet.
So maybe previous district managers casued rifts between the dealers and the corp.With a strong objective.
Two sides to every story. Poorly run company causes bitter employees, or ex-employees. There are reasons people leave a company. Maybe they were fed up and saw the writing on the wall..
B.O.
I do find it interesting that the president jumped ship before the melt down.
07'Duramax dually,12'Open Range 399BHS
Hawkshead TPMS,Hensley BD3,Killerbee exhaust brake
Blue Ox Bedsaver,air bags w/compressor
Arvika pin box bike rack,Bak Flip tonneau cover
5500 Onan LP,EMS-HW-50
14'Porta Bote w/8.0 Nissan
Vu Cube 2000,Splendide 2000S
Yes, some of the management moved to Redwood and Carriage also made lots of changes last year in management (quick search on the RV News site).
I tried finding the rumor about THOR offering to buy Carriage but couldn't find an actual article, just lots of stuff about Carriage folks going to THOR who created Redwood.
Either way I hope someone helps Carriage out...
2013 Jayco Eagle 334RBTS Disclaimer for the daft: Don't confuse my opinion with facts.
I would purchase a Carriage product without hesitation manufacturers warranty or not.I would purchase a extended warranty and hook it up.. It is a good product.
I bought my Cameo from a dealer in South Fork Co. He also had Hitchhikers on the lot. They were beautiful units, but I think they set there most of the summer. not sure he ever sold them. He had Carriage coming in real often and was selling them quick. The one I bought had only been there about 1 wk. If all dealers were like him I would think the company should have been selling plenty of units. Course his business is seasonal. Really wondering what he will do if Carriage does not come back. They were his main source of income. He sold enough to get through the winter months. Just hope this will be a good ending for all that like Carriage.
kenneth wooster- retired farmer. Biblical History Teacher in public HS, and substitute teacher.
wife Diana-adult probation officer, now retired.
31KSLS Full Body paint Cameo
Ford F250 2011 model, 4X4, King Ranch.
18K SuperGlide Hitch
Basically, all the new units on all dealer lots now have no Carriage warranty. IMO, new Cameos, on the lots, can be considered used units and there will be some deals over the next year...the longer they sit there, the better the deals will be. I bought a HR Savoy this way, and got an incredible deal on a "new" one. I was able to get over 60% off the MSRP.
But maybe Carriage will find a buyer, but that doesn't mean they will honor the warranties either. Time will tell. I just thought they were great units...sad.
2011 Silverado CC DRW 4x4
2013 Bighorn 3670RL
Texas gulf coast, Colorado, or on the road camping somewhere
Carriage has such an exceptionally good customer reputation that it is highly likely Forest River would buy it given the chance. It would be a shame for an RV company with that reputation to simply go out of business.
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