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Old 11-21-2008, 02:52 PM   #1
Waynem
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Coachmen Industries Sells RV Unit

Another one

But at least this one is being sold.

Edited: Different Twist
 
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Old 11-21-2008, 03:23 PM   #2
richfaa
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That was predicted by some of the vendors and others at the fall rally. It was known that Coachman was in really bad shape. When we drove by the plant on the way into the rally there was little activity. We sold and had a Coachman TT in the early 90's.Did not care much for it but have felt that the product had improved greatly in the last few years. They did a really nice job on the Wyoming 5th wheel.. The thought was that Keystone,Forest River, Jayco would survive. Just when you hoped it would not get worse....it did....
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Old 11-22-2008, 02:14 AM   #3
Mrs. CountryGuy
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Agree with Rich, some insider info I heard, said that Coachman would not survive this crunch. Guess my insider knew of which he/she spoke.

Tis a slippery slope we ride.
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Old 11-22-2008, 03:02 AM   #4
Delaine and Lindy
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They can thank Warren Buffet...... GBY
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Old 11-22-2008, 10:55 AM   #5
ggranch
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My poor SOB! We are dragging the Coachmen Wyoming. At least we had it long enough that the warranty is used up. Forrest River is not known for friendly dealing on warranties. Bob
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Old 11-24-2008, 12:55 PM   #6
deerrahn
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Forrest River always treated us well with our Wildcat. Problem was the dealer was to far away. Always liked the Montana, and the dealer being close to us made it better. Love my Montana, however Suncoast RV (closed our store) is going down the tube also. By leaving our neighborhood, I'll bet they need me more than I need them. So much for poor business practices. GO KEYSTONE
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Old 11-25-2008, 02:58 AM   #7
skypilot
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My SOB is a Cedar Creek by Forest River -- warranty and out-of-warranty coverage by CC has been super. (I must admit that I Don't know about their other lines' support though!). That said, I worry about all of these manufacturers if this goes on for very long. My big boss is, on my recommendation, looking at a Big Sky from our local Montana dealer. He was real 'gung-ho' last Spring but now is being cautious - retirement plans have been modified because of the drop in the market and he speaks of several of his peers who are doing the same. Guess what I'm trying to say is that we need consumers to continue buying but big purchases are being weighed very heavily against what the economy is doing. It has got to get better..
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Old 11-25-2008, 05:46 AM   #8
ggranch
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As Skypilot says, it has to get better. The question is, when and what will happen before it does get better. I have rarely been in a position to buy whatever, whenever. Most of us make purchase decisions after research that includes the future of our finances. Good luck to all. Bob
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Old 11-25-2008, 07:36 AM   #9
richfaa
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For those who believe that by not reading or paying attention to the economic news it will go away.Stop here. For those that live in he real world...

"Economic tumble worse than expected in 3rd quarter
11/25/2008 10:41:25 AM
By JEANNINE AVERSA


The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years, further proof the country is almost certainly in the throes of a painful recession.

The updated reading on the economy’s performance, released Tuesday by the Commerce Department, showed the gross domestic product shrank at a 0.5 percent annual rate in the July-September quarter.

That was weaker than the 0.3 percent rate of decline first estimated a month ago, and marked the worst showing since the economy contracted at a 1.4 percent pace in the third quarter of 2001, when the nation was suffering through its last recession.

GDP measures the value of all goods and services produced within the U.S. and is considered the best barometer of the country’s economic fitness.

"Consumers and businesses were like deer in the headlights ... frozen," said economist Ken Mayland, president of ClearView Economics.

The new reading on GDP underscores just how quickly the economy deteriorated as housing, credit and financial crises intensified. The economy logged growth of 2.8 percent in the second quarter.

White House press secretary Dana Perino called the lower GDP figure "troubling" and said new government efforts announced Tuesday to boost the availability of auto and student loans, credit cards, home loans and other consumer lending — at cheaper rates — should eventually help spur more consumer spending.

On Wall Street, those new government efforts provided an early lift to stocks, but the Dow Jones industrials were down about 90 points in afternoon trading.

Meanwhile, the Federal Deposit Insurance Corp. said the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter — the highest level since late 1995. The FDIC also said that commercial banks and savings institutions suffered a 94 percent drop in third-quarter profits to $1.7 billion. Except for the fourth quarter of 2007, it was the lowest profit since the fourth quarter of 1990.

The FDIC does not reveal the institutions on its "troubled" list, but on average, about 13 percent of them end up failing.

Nine banks failed in the third quarter, decreasing the FDIC’s deposit insurance fund to $34.6 billion from $45.2 billion in the second quarter, both below the target minimum level set by Congress. There have been 22 bank failures so far this year compared with three for all of 2007. It’s expected that many more banks won’t survive the next year of economic tumult.

Elsewhere, the New York-based Conference Board said its Consumer Confidence Index for November rose to 44.9, from a revised 38.8 in October. Last month’s reading was the lowest since the research group started tracking the index in 1967 and Americans’ views on the economy remain the gloomiest in decades as they grapple with massive layoffs, slumping home prices and dwindling retirement funds.

To revive the economy, President-elect Barack Obama, who takes over on Jan. 20, says a top priority will be working with Congress to enact a massive stimulus package that he says will generate millions of new jobs.

The new, lower third-quarter GDP reading matched economists’ forecasts. The downgrade from the initial estimate mostly reflected an even sharper cut back in spending by consumers and less brisk sales growth of U.S. exports.

American consumers — the lifeblood of the economy — slashed spending in the third quarter at a 3.7 percent pace. That was deeper than the 3.1 percent cut initially reported and marked the biggest reduction since the second quarter of 1980, when the country was in the grip of recession.

Consumers are hunkering down amid job losses, tanking investment portfolios and sinking home values, which are making them nervous about spending.

Underscoring the strain faced by consumers, the report showed that Americans’ disposable income fell at an annual rate of 9.2 percent in the third quarter, the largest quarterly drop on records dating back to 1947. The government’s initial estimate had showed a record 8.7 percent decline in disposable income for the quarter.

Sales of U.S. exports grew at a 3.4 percent pace in the third quarter. That was lower than a 5.9 percent growth rate initially estimated and marked a sharp slowdown from the second quarter’s blistering 12.3 percent growth rate. The deceleration reflects less demand from overseas buyers coping with their own economic problems.

Home builders slashed spending at a 17.6 percent pace, marking the 11th straight quarterly cut and fresh evidence of the depth of the housing slump.

Meanwhile, a report on home prices released Tuesday and downbeat earnings results from homebuilder D.R. Horton, showed further deterioration in the housing market. The Standard & Poor’s/Case-Shiller U.S. National Home Price Index said that home prices tumbled a record 16.6 percent during the third quarter from the same period a year ago. Prices are at levels not seen since the first quarter of 2004.

Fort Worth, Tex.-based D.R. Horton Inc. reported a nearly $800 million loss in its fiscal fourth quarter on slower home sales and more than $1 billion in charges amid a battered housing market.

To help revive the economy, the Federal Reserve is expected to lower interest rates when its meets on Dec. 16, its last session of the year. Last month, the Fed dropped its key rate to 1 percent, a level seen only once before in the last half-century.

So far, though, the Fed’s rate reductions, a $700 billion financial bailout package and a flurry of other radical actions have been unable to break though a dangerous credit clog, restore stability to financial markets and help the sinking economy.

The nation’s unemployment rate is at 6.5 percent, a 14-year high, and will climb higher. Employers have cut payrolls every month so far this year and more losses are expected in the months ahead. The total of number of unemployed in October was just over 10 million, the most in 25 years.

Given all the stresses, consumers are expected to burrow further, making it likely the economy will continue to shrink through the rest of this year and into 2009, more than fulfilling a classic definition of a recession. That is, two straight quarters of contracting GDP."
Unquote.

What I fail to understand is how making loans available and easier to get will help the consumer..Isn't that what caused the problem?? How can the consumer who has lost their job and can not make the payments on the home and car or has lost them borrow more money//won't that make it worse??? The consumer needs to get back to work. How does bailing out the banks and financial organizations do his? So the banks can now lend money. The auto makers are in good finanical shape.Who will buy the cars or comsumer goods if the consumer is not working? Nothing has change at the consumer level.. What part of the big picture am I missing???
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Old 11-25-2008, 09:44 AM   #10
Delaine and Lindy
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JOBS, JOBs, remember NAFTA and what about all those company's operating outside the USA. We have been living in credit for so long and with the inflation of house price and people borrowing money on what their house prices were suppose to be worth. Well then since we haven't drill for our on OIL because of the cost (think EPA) and then OIL took off because of you know who. Really what can we expect.

But no problem just wait until the 20 of Jan and the world will be saved. Start preparing for the bail out. I guess I have missed something, what have we been doing. It would have been so much easier just to give everyone $500,000 dollars and the economy would be booming. Credit has just been to easy, to many people just walking in as getting money that couldn't afford and didn't have the means to pay it back. Now someone tell me were is all this money going that the TAX payers is loaning now???????? The new adminstration is the same one we had in the past + one. It want work, someone has to say enough is enough. Who will that be??????? GBY......
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Old 11-25-2008, 09:58 AM   #11
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Enough is Enough! There I said it. The problem is some of us tried to do something about it in the last election, however, I think the rest of the country wants to go socia______. Have they got a rude awakening coming....

Rich, I think the answer to your question, in theory anyway, is that the more people spend, the more production it takes to satisfy that urge and the more poeple will be put back to work to increase that production. BUT, it's the old story of the chicken and the egg. Where do people get the money to spend? By borrowing. We can't drill ourselves out of the energy crisis, but I guess we can borrow ourselves out of the economic crisis. Not sure any of this makes real sense. I actually think the government wants the consumer to think they have the power to do this by building their confidence in the system, yet we read doom and gloom everyday. Oh woe is me, I need a nap....... ZZZZZZZZZZZZZZZZZZZZZ
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Old 11-25-2008, 10:40 AM   #12
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Since this thread has gone political it is being closed.

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