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 > Warrior's assets siezed

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VintageRacer

Dundas, Ontario

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Posted: 07/18/08 07:17am Link  |  Quote  |  Print  |  Notify Moderator

It's a breach of corporate law to leak prior knowledge of actions like these. In any case, once things get this far it's out of control of either the banks/investors or the company - the action is taken by the Sheriff's office after a court order. Neither side has any control over when or where assets are seized.

After something like this, the debtor's rights are all that matters. Owners and customers, not so much. And usually the debtor's get about zip on their dollar.

Brian


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twaldher

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Posted: 07/18/08 08:33am Link  |  Quote  |  Print  |  Notify Moderator

SCVJeff wrote:

Not to condone the dealer, but you can bet that if I'm sitting on $1mil worth of product that's about to do under, you ain't gonna hear the bad news from me.


That's assuming the dealers actually knew (not rumor) that this was coming down.

Keep in mind, corporate is going to keep selling until the day they close their doors and won't say a word.


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SAR Tracker

Sandy Eggo, Calif

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Posted: 07/18/08 10:06am Link  |  Quote  |  Print  |  Notify Moderator

With the constant FLOOD of rumors, "I-Heard"s, and mis-quotes... Can anyone provide proof of this seizure? Not the "I heard from a friend...", but an article from an paper, or a picture of the closed doors with seizure tape, or a Marshall standing in front of the building?


Otherwise, well.....


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RetiredbutWorking

Central Texas

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Posted: 07/18/08 10:11am Link  |  Quote  |  Print  |  Notify Moderator

Caveat Emptor!


RBW

Blackdiamond

So. Cal

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Posted: 07/18/08 10:22am Link  |  Quote  |  Print  |  Notify Moderator

In order for this to happen there has to be a court order, which is a matter of public record, anyone produce one of these or even a case against WW by a lender????????

Rumors can be made up by anyone.


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damone

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Posted: 07/18/08 11:08am Link  |  Quote  |  Print  |  Notify Moderator

roper1 wrote:

Got a call about an hour ago and it seems warriors assets were sized by the bank late this afternoon. Investors spents most of the day checking the inventory of the facility guards were posted sonothing could leave the property. This also took place at the ragen facility. Was also told the vacuum bonding machine was sold.


No, not the vacuum bonding machine


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John.WWFSW2800

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Posted: 07/18/08 11:14am Link  |  Quote  |  Print  |  Notify Moderator

I just got off the phone with the service department. We have an electrical problem that just happened and I thought I'd just deal with it myself. The guy on the line gave me the information I needed and I asked him if the rumors about the seizure and closure were true and he said yes, it is.

I also need a couple of parts and he let me know the parts department was bought out by Weekend Warrior Gear who will be handling them.

Finally, the electrical and plumbing schematics would have come from National RV, so I guess I'm pretty well screwed there.

Our camper was bought new at the end of October 2007 and we've only had the opportunity to use it a few times. We chose this one out of all the options we looked at over many months.

For selfish reasons I regret the factory warranty is gone, though the individual appliance, electronics, generator warranties are valid. But I feel most for all of the people at WW who lost their jobs. I've spoken to quite a few of them since July of last year when we started our hunt for a camper and every single one of them was kind and helpful.

Going forward it is possible (probable) someone or some company will pick up WW and subsequently honor the existing warranties. (That would be the smart thing to do.) Mark may even be able to pick up the pieces and make another run at it -- could be this was necessary to wipe the slate clean, I don't know.

In the mean time, what my dealer won't cover I'll handle myself. It's an imperfect world, screws fall out all the time.

John


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SAS!

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Posted: 07/18/08 11:14am Link  |  Quote  |  Print  |  Notify Moderator

damone wrote:

roper1 wrote:

Got a call about an hour ago and it seems warriors assets were sized by the bank late this afternoon. Investors spents most of the day checking the inventory of the facility guards were posted sonothing could leave the property. This also took place at the ragen facility. Was also told the vacuum bonding machine was sold.


No, not the vacuum bonding machine
that machine is what made Rage'n so sweet, I don't know why they didn't use it for the warriors?


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dblagent007

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Posted: 07/18/08 12:06pm Link  |  Quote  |  Print  |  Notify Moderator

Read this and you will get a sense for why WW failed.

Quote:

Warmoth: 'I Really am a Weekend Warrior'

Mark Warmoth, owner of Weekend Warrior Trailers Inc., lives the lifestyle he sells.

According to a recent profile in The Press-Enterprise, Riverside, Calif., Warmoth takes family or groups of friends on weekends to his second home on the Colorado River or to Glamis Dunes in Imperial County with a trailer full of all-terrain vehicles.

During the week, Warmoth wears flip-flops to work. He sports a goatee braided at either end with purple rubber bands, and his graying blond hair is swept back as if he just got off a dirt bike.

"My whole life, I've been preparing for this job," said Warmoth, who learned to ride a dirt bike when he was 8. "I really am a weekend warrior."

Headquartered in Perris, Calif., Weekend Warrior was founded in Warmoth’s garage in 1998 and has grown to become the marquee manufacturer of the flashy trailers known as sport-utility RVs, toy haulers or toy boxes.

Toy haulers feature living quarters in the front for up to eight people and storage space in the back for everything from ATVs, dirt bikes and 4x4s to jet skis and snow mobiles.

Priced from $20,000 to $60,000, these mobile garages appeal to people who spend their weekends at the river, in the desert or in the mountains.

Although Warrior has grown steadily, business took off in the past few years because of changing demographics and the exploding popularity of off-road sports.

"This is a Baby Boomer product," said Warmoth, 49. "So I'm selling to people just like me. I think that is part of why we're doing so well. Our parents waited until they retired to see the world. We're doing it every weekend."

The toy hauler segment is still relatively small, but it grew by more than 50% in 2004, according to Statistical Surveys Inc.

"Everybody in the industry has a sport-utility offering now," said Tom Walworth, president of the marketing research company.

But Weekend Warrior, which had sales of $90 million last year and plans to double that in 2005, is the market leader, he added.

"We're growing as fast as we can grow and we're punishing our competition," said Warmoth. "I'd hate to be going against us."

Last year, the firm sent a message to those competitors, gobbling up Caldwell, Idaho-based Extreme RVs in July and later buying the toy hauler division of National RV, a much larger recreational vehicle company also based in Perris.


Warrior now employs about 1,000 people, cranking out 25 trailers a day, or 5,000 a year, at four plants in Perris and in Idaho. The company recently bought more land, in Riverside County, to consolidate its 450,000 square feet of factory space.

"National RV wanted out. They wanted to concentrate on motorhomes, which is their gravy train," Warmoth said. "We eat and sleep ramp trailers. That is our thing."

Over the past six months, Warrior has redesigned National RV's product line and created a separate business entity called Rage'n Inc. to build and sell them to dealers, said Gary Denton, the company's vice president of marketing.

In the Southern California area, Warrior has an exclusive deal with Montclair-based Giant RV, which has six large dealerships in Riverside, San Bernardino and Orange counties. One of the benefits of the Rage'n line is that it has its own network of dealers, Denton said.

Along the way, Warmoth has also become an off-roading folk hero of sorts, giving money and time to nonprofit groups that do battle with government agencies and environmental organizations over the future of some off-road trails.

"I consider myself an environmentalist, but I want to protect the land for the people, not from the people," he said. "And it's my livelihood. It's what I've been doing since I was 8 years old, and it's what I do with my kids."

In 2000, he came up with the idea to establish a fund to fight land closures brought on by lawsuits over the Endangered Species Act. The Action Program, as it is called, raises about $500,000 a year from off-roading companies and customers.

"Mark is the ultimate American success story," said Grant George, president of the American Sand Association, which is part of the Action Program.

"He took his passion and he turned it into a highly successful business. Then he took that passion and that business and gave back to the future of the sport."


WW's fall is very simple really. It had nothing to do with warranty work, lawsuits, etc. The problem was that Mark got too ambitious. He borrowed lots of money to expand when times were good. The market tanked and he could no longer make the payments to the banks. Mark made some dumb decisions back in the good times that came back to haunt him now.

SAR Tracker

Sandy Eggo, Calif

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Posted: 07/18/08 12:13pm Link  |  Quote  |  Print  |  Notify Moderator

Did some searching myself, and found the Riverside County Court system... Plug in "weekend warrior" into the business name... Interesting reading.

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