Beaudry RV loses Fleetwood dealership

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Pierat

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Aug 23, 2006
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Vancouver, Washington
According to the Arizona Daily Star today (Tucson, 23 Oct 2008), Beaudry RV has lost its Fleetwood RV dealership. Over 100 units were moved to a fenced lot away from the dealership, apparently by GE commercial finance. The article also mentions cutbacks at Fleetwood and other industry news.  http://www.azstarnet.com/sn/biz-topheadlines/263747.php
 
They aren't belly up yet, but close.  Chapter 11 means they continue to operate while attempting to sort out their debt.
 
Golly! CNN. predicts the bottom out of this crisis  in the fourth quarter (next year)!

My Mother said during the early 30's Dad made a nightly trip across the Detroit River in a very fast speed boat to Windsor getting a load of food & booze. He kept the food(speak easies got the rest of the cargo)! Needless to say we ate well and were able to help other's! We sure don't  need another time like that.
 
Harley, bottom next year doesn't sound good!

We just bought a stick house. The seller was a vet, and I felt sorry for him. But, we were looking for someone to skin.

Aside from the amenities, the house was appraised 18 months ago at $225,000. Our VA  appraisal was at $200K. We bought at $160K.

I felt like a thief!  :mad:

He was not upside down. He had it free and clear after 30 years. His wife had gone to S. Cal for cancer treatment, 18 months ago. He wanted to sell so he could join her. After that time he accepted our offer. Still - - - -

He was a nice guy. Lost his foot and one eye in a torpedo accident in Viet Nam. We got to be friends, int the negotiations, much; to the dismay of the RE agents. He was glad to be able to join his wife. We were glad to get the property. It's a very nice house.

Now, you're telling me that we haven't hit bottom yet!  :eek: :mad:
So, we start losing, where he left off?  :(

It's OK, as we have no plans to sell. Still, I feel sorry for him.

Feels bad, to take advantage of someone. But, that's what we were looking to do. (Bad Boy, Ray!)

Bad Boy, Ray D  :(
 
Pierat, I have a hunch it's worse than it sounds. He had it for 30 years, and probably bought it new, for less than he sold it for. So on top of everything else, he will probably have to pay a capital gains tax!  ::) :( :(
 
Ray D said:
Pierat, I have a hunch it's worse than it sounds. He had it for 30 years, and probably bought it new, for less than he sold it for. So on top of everything else, he will probably have to pay a capital gains tax!  ::) :( :(

Ray

He probably won't. There is a $250,000 personal, $500,000 married, exemption on the profit from selling your home. Naturally, there are lots of regulations and loopholes regarding this, but he should be OK.
 
Ray:

Its all relative; if he is buying another home he will also get a deal.
 
Jeff, I hope he does. He was a really good guy. You should have seen the RE agents trying to keep us all apart!  :D :D :D

They didn't know that we weren't discussing the deal. We were discussing the VA and treatment, there. The discussion about our Physical challenges was limited, as it usually is in those circumstances.

He did tell us, later, that there were three, bidding. He rejected the other two and drove us as high as he thought he could get, because he liked us and wanted us to have the house. I thought that was funny!  ;D
 
Ron:

Whether you like Beaudry or not, having a large number of large RV dealerships go down (and the damage to those who financed them) will cause long term problems for the RV industry.

 
Ron....You do not live in Tucson and therefore you may feel a bit detached from all of this.
As much as we all dislike Beaudry, I hate to see our businesses go down like this. AND it DOES affect our local economy here in Tucson.

Mariekie
 
Jeff Cousins said:
Ron:

Whether you like Beaudry or not, having a large number of large RV dealerships go down (and the damage to those who financed them) will cause long term problems for the RV industry.

I hate to see so many RV dealerships as well as manufacturers go down. However, IMHO a change in ownership or management of this one might would be the best outcome.
 

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