# More Unfortunate News For U.s. Industry



## Tyvekcat (Aug 28, 2007)

News

I know a lot of you that work on your own vehicles have heard of Stant.

Stant makes fuel systems, for GM and Chrsyler, and their bankrupties have forced this 111 year old company into bankruptcy. They were surely one of those creditors that Tim Geithner pushed out of the way to give GM to the UAW.

It's hard to make cars without a gas tank and fuel pump and radiators. I guess that 30 something year old "kid" that made these decisions about how to "fix" the car business didn't know that.

So one more company Tim Geither will have to "save" to keep GM in business. It won't be the last.

Bummer.


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## Nathan (Jan 2, 2007)

You'll see a LOT of this in the next year.

There's an added contributor to this. Just keep track of how many of these were held by private equity firms. Many of those did a poor job handling these companies and loaded them up with debt. I'm really not a fan of private equity. They take a good company that is vulnerable and destroy it from the inside out. I'm not personally aware of this particular case, but I've seen a lot of suppliers suffer this fate.


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## Tyvekcat (Aug 28, 2007)

Nathan said:


> You'll see a LOT of this in the next year.
> 
> There's an added contributor to this. Just keep track of how many of these were held by private equity firms. Many of those did a poor job handling these companies and loaded them up with debt. I'm really not a fan of private equity. They take a good company that is vulnerable and destroy it from the inside out. I'm not personally aware of this particular case, but I've seen a lot of suppliers suffer this fate.


You are exactly right Nathan !


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## Ghosty (Jan 17, 2005)

and to top that ... yesterday the President of Valero Oil announced that the Cap and TRADE bill that breezed through congress would cost right at a million jobs in the US and do nothing to actually help the environment since now Valero will simply import all its fuel from overseas instead of drilling here in the states and paying all these fees, fines, and penalties... he also forecasted that the cost of fuel at the pumps will increase signficantly since Valero and other major companies will be paying to import what we have billions of gallons here of...

"We recognize the concerns about climate change and increasing carbon dioxide levels," said Valero Chairman and CEO Bill Klesse. "However, a hidden tax imposed by this legislation in the form of a cap-and-trade system on hydrocarbons will significantly raise the consumer price of gasoline and other fuels, and more than a million high-paying jobs will disappear from our already weakened economy - with no measurable improvement in global climate change." Full Story. The analyst on money Watch said that it should no more then DOUBLE the current price of fuel at the pumps but with cars getting much better econmy in 2010 that it will all balance out. REALLY??? Unfortunately i have a 2008 and my fuel exonomy will not somehow double miraculously!!!

But thats all good -- I was missing the days that it took over $200 to fill up my 40 gallon diesel tank


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## Carey (Mar 6, 2012)

Heres a good one.. This is amazing.

USA population like 320 million.

Canada population 33 million.

40% of all new rv's being made right now are being sold to Canada.

Thats how bad the american economy is...

RV's are one of the best indicators of a 1st world economy.

Get ready for millions of more layoffs..

This winter will be a rough one.. So rough that we will remember it forever.

Thats my prediction!

Carey


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## muddy tires (Jun 22, 2007)

Colorado~DirtBikers said:


> 40% of all new rv's being made right now are being sold to Canada.
> 
> Carey


And you can't buy a truck up here. They are flying off the lots! Might have to do some cross border shopping if the Canadian dollar strengthens some more.


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## KosinTrouble (Jul 18, 2005)

muddy tires said:


> 40% of all new rv's being made right now are being sold to Canada.
> 
> Carey


And you can't buy a truck up here. They are flying off the lots! Might have to do some cross border shopping if the Canadian dollar strengthens some more.
[/quote]

Part of that is that many of the provincial/city governments are using infrastructure to try to boost the economy, which means the construction companies are still very busy. I know our company just ordered almost 100 new trucks. We have nearly 2billion worth of jobs we are submitting on and almost 1billion that has been submitted just waiting to hear back if we get the jobs. We usually average about 30% win. So as bad as the economy is, there is still a couple sectors doing well.

Kos


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## muddy tires (Jun 22, 2007)

KosinTrouble said:


> Part of that is that many of the provincial/city governments are using infrastructure to try to boost the economy, which means the construction companies are still very busy. I know our company just ordered almost 100 new trucks. We have nearly 2billion worth of jobs we are submitting on and almost 1billion that has been submitted just waiting to hear back if we get the jobs. We usually average about 30% win. So as bad as the economy is, there is still a couple sectors doing well.
> 
> Kos


Glad to hear you are getting some. My company sells construction and mining equipment. So far we have yet to see any impact of the infrastructure money.


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## Fanatical1 (Jan 9, 2006)

Ghosty said:


> and to top that ... yesterday the President of Valero Oil announced that the Cap and TRADE bill that breezed through congress would cost right at a million jobs in the US and do nothing to actually help the environment since now Valero will simply import all its fuel from overseas instead of drilling here in the states and paying all these fees, fines, and penalties... he also forecasted that the cost of fuel at the pumps will increase signficantly since Valero and other major companies will be paying to import what we have billions of gallons here of...


Unfortunately I believe this was the intent of the bill....


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## Carey (Mar 6, 2012)

I was talking to my dispatcher today. He had 145 trailers waiting for drivers. Over 100 were Cash on Delivery.

He said the rv dealers have put off buying more inventory all year cause they have been waiting to find financing.. Well, they havent found it. They are now to the point of, if they want to be in business, they are gonna have to buy there own inventories.

So they are doing that. We are as busy as last may/june right now.

Will see how long it lasts.

Carey


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## Carey (Mar 6, 2012)

Fanatical1 said:


> and to top that ... yesterday the President of Valero Oil announced that the Cap and TRADE bill that breezed through congress would cost right at a million jobs in the US and do nothing to actually help the environment since now Valero will simply import all its fuel from overseas instead of drilling here in the states and paying all these fees, fines, and penalties... he also forecasted that the cost of fuel at the pumps will increase signficantly since Valero and other major companies will be paying to import what we have billions of gallons here of...


Unfortunately I believe this was the intent of the bill....
[/quote]

You know, the people on our front range just nixed most all future drilling in Colorado.

I hauled a ton of the oil companies rvs out of the rifle, co area this spring.

The guys told me Colorado voted in a new tax on drilling.

The oil companies, said, nope, we will drill elsewhere.

So about 50,000 total jobs have been lost or moved out of western colorado this year. Well prolly more than that by the time it sifts out..

I know in Grand Junction, Palisade, Rangeley, Rifle and the Craig area, a ton of new biz's opened to support all the oil guys.. They are all going away and these towns will become dry and dusty again like they always have been.. Very sad... The land isnt really useable anyway.

They asked what part of the state I lived in and I said the front range.. I could see the hate for the people on the front range in there eyes.. I didnt talk to them much more after.. I did vote no on that though, but they said we are all the same..

They said tell all your buddies thanks for destroying all we had here in western colorado..

And sure enough, now biz after biz is going bankrupt in these towns..

Here we got tons and tons of natural gas... And it will stay down there.. Sad...They said North Dakota actually wanted them, so the companies were headed for there.

Carey


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## BoaterDan (Jul 1, 2005)

Those equity firms don't just go after "vulnerable" companies. Sometimes a rock solid company is just as attractive. All it takes is somebody slick enough to convince them that they can raise prices and lay off a portion of the workforce and increased sales will result.


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