The Economy FTL :( An automotive mainstay = closed

[Devaclis]

RIP Crane Cams.

http://www.news-journalonline.com/NewsJournalOnline/breakingnews/crane022409.htm

[rforsythe]

Bummer! Hopefully someone gets it turned back around.

[Kim-n-Dean]

Wow!!!!!

Are there going to be any companies left by the end of the year?!?!?

Another commercial property left vacant, and a manufacturing facility at that. Watch the commercial real estate bust make the sub-prime fiasco look like a day at summer camp!!!! I'm moving to the Moon!!

[InlineSIX24]

Automotive is pretty much sucking wind right now. About a year ago MSD or Edlebrock would have bought them out and kept the product line alive.

[rforsythe]

Automotive is pretty much sucking wind right now. About a year ago MSD or Edlebrock would have bought them out and kept the product line alive.

Sounds like that's what they're shooting for, according to TFA.

I'd think if nothing else, it'd be revived in a year or two once people start buying more of that stuff again. By then any store stock is going to be all but gone so there will certainly be a demand.

[Gramps]

I heard about this a few days ago through another publicaton. Sad news indeed.


There have already been a lot of casualties in the aftermarket automotive world. It started about five years ago actually.

The company I worked for is now just a memory. At one time they were the largest aftermarket manufacturer in the world with over 100 companies.


In the 90's Federal Mogul and DANA went out and bought all these smaller companies both here and overseas. Then when cash got short they sold off packages of companies. You took some bad ones if you wanted the good one kind of deals.

So Federal Mogul declared bankruptcy in 2003 or so and have pulled out of it now. DANA on the other hand is gone. They made some bad acquisitions and then raped the good companies to pay off bad debt on the other ones. It worked for a while but basically drove some good companies into the ground in the end.

I still have some stock if anyone wants it. At one time it was up to about $84 a share. Now it's below a dollar. Listed as Junk. EEhhh what the hell, it's only money.

Engine Parts manufacturers were the first to be hurt though. There is just about no demand for engine parts any more. Large rebuilders are buying at cut throat pricing and machine shops are just about non-existent. Engine rebuilding is a thing of the past. Engine's last longer for one, and a crate motor from GM is way more cost effective than a local rebuilder.

Perfect Circle, TRW, Competition, have been gone for a while now. Some were picked up and private labeled but none are being made by the original people.

This is just the next one to fall. It's only news now because it's what everyone wants to talk about. I guess there hasn't been much else to talk about lately, and the media always wants to tell you how bad things are.

:)

[rforsythe]

Engine Parts manufacturers were the first to be hurt though. There is just about no demand for engine parts any more. Large rebuilders are buying at cut throat pricing and machine shops are just about non-existent. Engine rebuilding is a thing of the past. Engine's last longer for one, and a crate motor from GM is way more cost effective than a local rebuilder.

So you're saying I should get the parts to rebuild the 390 V8 in my garage sooner than later? :)

[rybo]

So you're saying I should get the parts to rebuild the 390 V8 in my garage sooner than later? :)

I don't think so...I think he's suggesting you sell the 390 for scrap and buy a crate motor from GM. :usa:

[InlineSIX24]

I don't think so...I think he's suggesting you sell the 390 for scrap and buy a crate motor from GM. :usa:

:lol: Yes.. and hurry before GM goes under. They (GM) are saying that Saturn, for one, will be done or sold come 2011.

[Gramps]

So you're saying I should get the parts to rebuild the 390 V8 in my garage sooner than later? :)


No I don't think you'll see a point in the near future where parts just are not available. Can it happen ? For sure.

Rybo is pobably on the right track though. Rebuilding an engine is labor intensive, and pretty technical if done correctly. The rebuilders do it in such a fashion that the quality and price are hard to beat. Also rebuilders offer a warranty that usually exceeds a local machine shop.

I look at it from a time and frustration level perspective. The time it would consume for me to rebuild an engine and install would far exceed the time it takes me to make the money just to have a professional do it.

Now this is of course assuming the professional is truely a pro and the work is done correctly the first time. Big assumptions I know but ther is still quality out there if you are willing to pay a little more.

:)

[Gramps]

:lol: Yes.. and hurry before GM goes under. They (GM) are saying that Saturn, for one, will be done or sold come 2011.


And Saturn probably should be gone sooner. I am a GM fan but Saturn is not a very good auto.

I don't think you will see GM go out of buisness. Chrysler on the other hand would be a maybe.


Believe it or not, according to all the automotive insider talk the Toyota, Honda's of the world are hurting worse than GM or Chrysler at the moment. Makes sense though. They had such increases in sales that they kept projecting the increases. They are loosing more compared to projections than GM is at the moment.


The Asian Manuf. are very cocky. Honda thought they were untouchable. History tells us that when a manufacturer(auto or other) believes they are untouchable that it is bad for the consumer. For example GM thought they were untouchable in the 70's. Look where they are now.

Will Honda go away. I don't think there is a chance. Are they in as good of shape as they were in the 90's. Not even close. Look around for the proof. They have pulled out of all kinds of marketing ventures, Racing, Advertising, etc. Toyota will probably be the next to start cutting back.

[CYCLE_MONKEY]

Bummer. Eclipse avation (business jets) just closed it's doors in chapter 7 BK, and that directly affects our sales of ignition parts, but not as bad as Caterpillar's sales decline now. Woodward announced the other day to the press and us employees that there will be layoffs.:(

I keep waiting for the Dems in Congress and Oh-Bammer to just fix everything as promised...........

[Flip]

So you're saying I should get the parts to rebuild the 390 V8 in my garage sooner than later? :)

Not necessarily Ralph. You just need to know the right people.:)

[CYCLE_MONKEY]

Believe it or not, according to all the automotive insider talk the Toyota, Honda's of the world are hurting worse than GM or Chrysler at the moment.
Umm, I know they're hurting like everyone else, but I think they pulled out of F1 because they just weren't getting the results expected, and this would be a great excuse to leave without looking like they were slinking away with their tail tucked between their legs. Sad, too, because I really think Ross Braun would have turned things around. Also, I don't think Honda is really hurting like that because they're still not offering 0% or 1% financing, a sign of trouble.

[Gramps]

I keep waiting for the Dems in Congress and Oh-Bammer to just fix everything as promised...........

I know you are being sarcastic. I don't pay great attention but it seems you are more right then left. With that being said you/I never believed he could fix anything anyway.

We the people have to fix it.

Are there some ways the politicians can help. YES , please. But hey we aren't talking politics here are we?

[Speedwagon]

Umm, I know they're hurting like everyone else, but I think they pulled out of F1 because they just weren't getting the results expected, and this would be a great excuse to leave without looking like they were slinking away with their tail tucked between their legs. Sad, too, because I really think Ross Braun would have turned things around. Also, I don't think Honda is really hurting like that because they're still not offering 0% or 1% financing, a sign of trouble.

Unfortunetaly, I believe the problem that got everyone into this mess, is debt in the first place! Companies and individuals have gone away from actually saving and owning things, and financing everything. When sales start to take a hit, if you own everything with savings in the bank, you can ride out the storm. If you are debt, you often cannot ride it out, and end up folding.

[rforsythe]

Not necessarily Ralph. You just need to know the right people.:)

I keep trying to find the "right people" that have a master kit of some quality for under $450...

But it's more of a summer "when I have free time and need a distraction" type of project, so it's not a rush job. I don't even have anything to put it in, I just like wrenching on random things, and have this whole disassembled engine sitting there collecting dust... (Though it would be perfect for a "some day" project I have in mind...)

[dirkterrell]

In the 90's Federal Mogul and DANA went out and bought all these smaller companies both here and overseas. Then when cash got short they sold off packages of companies. You took some bad ones if you wanted the good one kind of deals.

So Federal Mogul declared bankruptcy in 2003 or so and have pulled out of it now. DANA on the other hand is gone. They made some bad acquisitions and then raped the good companies to pay off bad debt on the other ones. It worked for a while but basically drove some good companies into the ground in the end.

I knew this was all Dana's fault.

Dirk

[Devaclis]

I do have a pretty nice rear end tho :)

[Gramps]

I knew this was all Dana's fault.


:lol:

Of course!

[Devaclis]

Boycott DANA!!!!!!

[CYCLE_MONKEY]

Unfortunetaly, I believe the problem that got everyone into this mess, is debt in the first place! Companies and individuals have gone away from actually saving and owning things, and financing everything. When sales start to take a hit, if you own everything with savings in the bank, you can ride out the storm. If you are debt, you often cannot ride it out, and end up folding.
+1