Everything Attachments - Bankrupt?

[madplanter]

I was wondering about that too, but probably, they are just Winter bored.

I actually could care less one way or another. It just seems like every time I open up other forums to read stuff someone has posted something about it, and I figured people on here seemed interested, so I forward it on.

It sucks for anyone who lost their money if it happens to be true, but honestly its a little too soon to tell. Once lawyers get involved who knows what the truth is, I think we've all witnessed that more than we'd like.

 

[GreensvilleJay]

re: An only 6 months past due tax bill, likely has very little to do with... "permanently closed".

true, as 'PC' has to do with Google BUT a delinquent tax bill IS a BIG DEAl.
The city and county didn't flag the bill as 'owing' or 'past due' but 'delinquent', in red, AND now has 2% interest on top ! I know f I don't pay by the 'due date', interest gets added on the next day.

I don't know of any businesses that LIKES having to pay interest charges as it eats into their 'bottom line' and looks bad. Also in 6 months ( 1/2 a YEAR ), EA hasn't paid anything to reduce the tax bill. That itself is another red flag.

Of course there's a lot going on we don't know about, but 'where there's smoke, there's fire'. It'd be interesting to hear if anyone here,that has read about EA , has actually placed another order with them. Perhaps 5-10K , to help pay down that tax bill .

 

[fried1765]

re: An only 6 months past due tax bill, likely has very little to do with... "permanently closed".

true, as 'PC' has to do with Google BUT a delinquent tax bill IS a BIG DEAl.
The city and county didn't flag the bill as 'owing' or 'past due' but 'delinquent', in red, AND now has 2% interest on top ! I know f I don't pay by the 'due date', interest gets added on the next day.

I don't know of any businesses that LIKES having to pay interest charges as it eats into their 'bottom line' and looks bad. Also in 6 months ( 1/2 a YEAR ), EA hasn't paid anything to reduce the tax bill. That itself is another red flag.

Of course there's a lot going on we don't know about, but 'where there's smoke, there's fire'. It'd be interesting to hear if anyone here,that has read about EA , has actually placed another order with them. Perhaps 5-10K , to help pay down that tax bill .

A "delinquent tax bill" may be a "Big DEAL" in Socialistic Canada, but not so much in most towns and cities in the USA.
It is quite normal for it to take several years for a "delinquent tax bill" to affect property ownership in the USA.
Even the IRS cannot move as fast as just 6 months.
"Different strokes, for different folks".
"Clown boy" (in Canada) froze truckers assets in mere days.

 

[Vince1230]

I bought in November. Not 5k but 2k. They had 10% off deal for election day. Was to be done in 4 months. Shady since they looked to be already struggling. I did cancel with my credit card yesterday. So if they do not answer credit card company like they did not answer me it will be a permanent credit. Thank goodness for my credit card and paypal protection.

 

[fried1765]

I bought in November. Not 5k but 2k. They had 10% off deal for election day. Was to be done in 4 months. Shady since they looked to be already struggling. I did cancel with my credit card yesterday. So if they do not answer credit card company like they did not answer me it will be a permanent credit. Thank goodness for my credit card and paypal protection.

I think there are more than a few tentacles to the EA story.

"They looked to be already struggling"

I do believe that.
EA has had a major backlog for several years.

They then contracted for a huge new building, to increase production,...... as most of us might do.
Building contractor turned out to be a scammer.
EA has struggled to produce as much as possible from their long ago inadequate facility.
Now comes major lawsuit from building contractor,....... who has built a building that EA cannot use.

I am NOT an "EA fan boy".
I have NEVER liked EA business practices!
Perhaps I do see things a bit differently than some others though.

 

[GreensvilleJay]

If it's true they only work a 40 hour week(as reported here), I have to wonder ,why considering the 'backlog', they don't put on a 2nd shift , to get the product out to clients ?
Have friends in construction and 80 hours is a 'light' week. Most in other trades are 50-60 hrs. Though the difference may be that EA was paid up front .

 

[chim]

If it's true they only work a 40 hour week(as reported here), I have to wonder ,why considering the 'backlog', they don't put on a 2nd shift , to get the product out to clients ?
Have friends in construction and 80 hours is a 'light' week. Most in other trades are 50-60 hrs. Though the difference may be that EA was paid up front .

I can only guess (yeah, like anyone else isn't guessing )

Availability of materials might be such that a second shift isn't supported.

My career was in construction and we tried to avoid OT unless someone else was paying for it. That happened more frequently than one would think. Generally, if there were substantial liquidated damages and it was documented that a particular entity would end up holding the bag, they'd often do the "1/2" part of the time and a half wages.

Right now #1 Son is working on a project that is way behind. In this case the contractor he's working for will be liable for huge financial penalties when the project runs past the scheduled completion, so his employer is picking up the tab and hoping that will be less expensive than the penalties. If EA pays OT and can't add it to the cost of equipment (already paid) there's not much benefit in using up more cash.

One of the first guys I worked for said he hasn't seen anyone work one and a half times faster when they worked overtime.

 

[GreensvilleJay]

I wasn't suggesting overtime, for current employees, actually MORE employees which gets more money into more pockets that gets spent and more taxes paid, boosting the economy. everyone wins.
While there may be a 'supply chain ' issue, it's pretty simple to ask the computer 'what can I make ?' ,build those, ship them out. I cut BASIC code 3 decades ago for an 'Inventory Management System'. Get an order in, program checks stock of parts, shows what can be built AND what quantity of parts needed to be ordered to complete the order.

 

[fried1765]

I wasn't suggesting overtime, for current employees, actually MORE employees which gets more money into more pockets that gets spent and more taxes paid, boosting the economy. everyone wins.
While there may be a 'supply chain ' issue, it's pretty simple to ask the computer 'what can I make ?' ,build those, ship them out. I cut BASIC code 3 decades ago for an 'Inventory Management System'. Get an order in, program checks stock of parts, shows what can be built AND what quantity of parts needed to be ordered to complete the order.

"MORE employees"?
Canada must have a different worker environment!
There are very likely no "MORE employees" available, in NC, USA!

 

[fried1765]

I wasn't suggesting overtime, for current employees, actually MORE employees which gets more money into more pockets that gets spent and more taxes paid, boosting the economy. everyone wins.
While there may be a 'supply chain ' issue, it's pretty simple to ask the computer 'what can I make ?' ,build those, ship them out. I cut BASIC code 3 decades ago for an 'Inventory Management System'. Get an order in, program checks stock of parts, shows what can be built AND what quantity of parts needed to be ordered to complete the order.

Again,... as in post #106,....the "MORE" employees are going to come from exactly where?

 

[GreensvilleJay]

you mean EVERY able bodied person in NC has a job ???
NO company has a 'Help wanted' sign in the window ???
heck there's 5-10K coming cross the boarder ,every day, , hire a few of them !

 

[fried1765]

you mean EVERY able bodied person in NC has a job ???
NO company has a 'Help wanted' sign in the window ???
heck there's 5-10K coming cross the boarder ,every day, , hire a few of them !

Overly simplistic!
I would suspect that EA would need welders, and tradesmen/fabricators.
They are likely not available on every street corner in NC.

 

[GreensvilleJay]

well,according to this...

Clark Equipment Co. v Ted Corriher

www.adrforum.com

he was going to hire 150 people, surely he has their job applications on file ?
Heck, according to guv stats there's 370K unemployed so a 'head hunter' can probably fill the payroll..

 

[fried1765]

well,according to this...

Clark Equipment Co. v Ted Corriher

www.adrforum.com

he was going to hire 150 people, surely he has their job applications on file ?
Heck, according to guv stats there's 370K unemployed so a 'head hunter' can probably fill the payroll..

"He was going to hire 150 people"
Yep in 2010........14 years ago!
We are now in 2024!
14 year old job applications are likely now not even worth the paper they are printed on.

 

[JimmyJazz]

re: An only 6 months past due tax bill, likely has very little to do with... "permanently closed".

true, as 'PC' has to do with Google BUT a delinquent tax bill IS a BIG DEAl.
The city and county didn't flag the bill as 'owing' or 'past due' but 'delinquent', in red, AND now has 2% interest on top ! I know f I don't pay by the 'due date', interest gets added on the next day.

I don't know of any businesses that LIKES having to pay interest charges as it eats into their 'bottom line' and looks bad. Also in 6 months ( 1/2 a YEAR ), EA hasn't paid anything to reduce the tax bill. That itself is another red flag.

Of course there's a lot going on we don't know about, but 'where there's smoke, there's fire'. It'd be interesting to hear if anyone here,that has read about EA , has actually placed another order with them. Perhaps 5-10K , to help pay down that tax bill .

A little bit of interest or even a lot on a delinquent tax bill is immaterial when considering the values involved. Arrerages are common in legal disputes. The smoke/fire thing seems misguided. These things can drag on for years sometimes.

 

[TheOldHokie]

"He was going to hire 150 people"
Yep in 2010........14 years ago!
We are now in 2024!
14 year old job applications are likely now not even worth the paper they are printed on.

I would say there is a real good chance he has trouble making his current payroll and paying his rent/taxes.

Dan

 

[North Idaho Wolfman]

well,according to this...

Clark Equipment Co. v Ted Corriher

www.adrforum.com

he was going to hire 150 people, surely he has their job applications on file ?
Heck, according to guv stats there's 370K unemployed so a 'head hunter' can probably fill the payroll..

You really have no idea how small towns and job forces work do you?

And what does him being sued in 2010 for using the Bobcat name have to do with this?

 

[fried1765]

I would say there is a real good chance he has trouble making his current payroll and paying his rent/taxes.

Dan

It would seem that there is no..... "current payroll".
I strongly suspect that Ted Corriher had little or no rent, and from the amount/price of product sold, he likely had no problem making a profit.
It seems quite obvious that the financial collapse of the new building project is what did him in.
I strongly suspect that he will rise from the ashes to build attachments again.
It is what he loves to do, and what he knows best!

 

[GreensvilleJay]

re: You really have no idea how small towns and job forces work do you?

hmm, 15k pop 'small' enough town ? Great paying jobs at local toy making factory(steel swing sets, wagons, etc.) You could work there or at the new 'sprallmall'. 3 decades ago I could hire my choice of electronic technicians to assemble/hand solder PCBs( before SMT ),burnin tests, field installation. Now a days, no need to actually work, with so much 'free cheese' available

 

[The Evil Twin]

NC unemployment is around 3.6%. I seriously doubt those 3.6% are much good at steelwork.