View Full Version : Genmar Chap. 11 filing Monday
RIK_unlogged
06-02-2009, 06:34 AM
Wasn't just GM on Monday. Genmar filed Monday as well.
Not surprising with the choke hold on the credit market, but have to wonder what it means for some of their dealerships that were already having a rough time with tight credit on the consumer and supplier side of the equation. Genmar as a company will probably come out the other side of this in decent shape but Ch. 11 doesn't leave a company completely unscathed.
FLW Outdoors, etc., are not included in the filing.
Be interesting to see what happens. I drive by the Lund plant every weekend on the way to the cabin, and it's weird to see their yard sitting nearly empty. Hope for the best for the employees.
RIK
perchjerker
06-02-2009, 06:49 AM
sad but not suprising considering the rate at which good paying jobs in this country are being lost
another 8000 or so are being whacked here in Mich with this latest GM news
ffishman
06-02-2009, 06:52 AM
Jobs are being lost, contracts are being redone, and workers are now making less. BUT, the cost of things is not dropping accordingly.
StCroix Angler
06-02-2009, 10:14 AM
Just curious why the original post on this subject got nuked? Was sent at 6:16am Central time
Just curious why the original post on this subject got nuked? Was sent at 6:16am Central time
Because it's been up since 7:30pm yesterday....http://www.walleyecentral.com/forums/showthread.php?t=154275
This one was left, because there were already a lot of responses to it.
We don't normally leave the same topic on more than one board, but since everyone want's to keep posting it, I figured leaving one more on then general disc. board would be ok....or, at least until the boss man pulls it. :)
This one had more responses than yours did, so yours was deleted.
It wasn't personal.
Juls
Javelin360
06-02-2009, 11:23 AM
This is what happens as we have exported our wealth to other countries. If you think it will not affect you our your standard of living you are kidding yourself! In a much smaller economy when only a few have purchasing power capacity becomes an issue and it has to be eliminated.
phantomblack
06-02-2009, 02:29 PM
RIK, Genmar does not own Lund, Brunswick does...
Am I the only one that finds a wee bit of humour in this situation? It's black sure, but it's there.
It wasn't that long ago that a certain Genmar/Ranger executive was blowing his horn about how financially solid and profitable his company was compared to others, and how they were going to use that advantage to take over the aluminum market.
Nice job lol...
Waxy
RIK_unlogged
06-03-2009, 11:28 AM
RIK, Genmar does not own Lund, Brunswick does...
Ha - that's what I get for trying to think before the coffee has hit the bloodstream... Good Lord...