Monaco out of business

[BernieD]

Please recognize this is NOT to correct you but it is only meant to show how long the reach is of Government is.  With that said, usually the first person paid is the Government, i.e., for unpaid taxes such as payroll, income, and so forth.  Good description Bernie!

Jerry

As I said, the creditors always come first in bankruptcy, and guess who is numero uno in creditor standings ;D ??? ;D

 

[Gary RV_Wizard]

The Roadmaster Chassis is [technically] no longer a Monaco product and is not included in the bankruptcy proceedings. Monaco put Roadmaster into a joint venture with Navistar's International Truck subsidiary just two years ago, so Roadmaster chassis and their service centers continue on even if Monaco fails. Unfortunately, if Monaco goes under then the market for Roadmaster chassis disappears and the Roadmaster chassis business would likely soon disappear too. Parts and service might continue, though, since there should be an excellent market for that.

 

[Ken & Sheila]

One dealer this weekend said Monaco would be making an announcement about a sale of the corporation next week.
We will see if this rumor is true.

 

[caltex]

The rumor here is that Warren Buffet is buying Monaco.

 

[davemittan]

The rumor here is that Warren Buffet is buying Monaco.

I'd be in favor of that, if it will keep him too busy to make statements to the press.  Lately, his pessimistic opinions are making the stock market more nervous.

 

[Mr Bojangles]

DAVEMITTEN:
Wow....
This (our comments) will move the thread off center a bit....

Warren Buffett is a hero of mine..., and, his words, Good or bad, are what I want to hear!
I have more faith in the HONESTY of his words than any other financial personality.
He is human and probably just responding to the "over zealous" press people reminding him of the perfomance of his holdings.
You probably like him too..., but the bad news objectionable to you (us) maybe.....
I'm in mind of his words "fell off a cliff" somewhere along the way.
Mr. Bojangles

 

[Gary RV_Wizard]

Buffet could end up the titan of the RV industry. He owns a big chunk of Forest River and, though it, Coachman Rvs as well. If he adds Monaco to his portfolio he will have a really major commitment to the RV industry.

 

[Mr Bojangles]

Hey Gary:
Did not know those facts..... but, that is how he has invested in the past, buy into a "control position" protecting and ensuring a good margin. This economical cycle will pass.

 

[BigLarry]

When we were shopping for our TT, the economic downturn was starting to take its toll.  One dealer suggested Forest River brands because he felt that with Warren Buffet's backing it was less likely to have financial problems.  I guess he must have been telling the truth.

 

[porscheracer]

I don't think Mr. Buffet's interest in the RV industry is philanthropic.  Either he is planning a feat similar to the Hunt brothers' 1981 silver escapade, or he thinks he can make some $$ at it.  I don't think his historic recall is bad enough for it to be a takeover attempt (although I may be wrong); and so far his profitability in Forest River has been rife with scandal.  (FEMA has decided to scrap tens of milions of $$ worth of trailers that were purchased for housing relief, and never used.  The chemical pollutant levels in them - after 4 years - is not down to federal minimums, and they are starting to fall apart from sitting.  A goodly portion of those were constructed by Forest River.)