03-03-2014, 10:23 AM | #169 | |
Drives: Really Slow Join Date: Apr 2010
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Quote:
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03-03-2014, 01:23 PM | #170 |
1st Civ. Div.
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I too was holding out for a set of Tri-Y headers from Pfadt Racing for my car come spring. I hope and pray that they return soon stronger and more prosperous than ever before. They truly have put out some of the most highest quality products for our cars, bar none.
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03-03-2014, 02:14 PM | #171 |
Drives: 2011 1LT/RS A6 RJT SuperCharged Join Date: Mar 2011
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I'm still having trouble understanding how a business that gets lots of business can go under.
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03-03-2014, 02:26 PM | #172 |
Drives: 2014 CRT Convertible ZL1 Join Date: Nov 2013
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Lots of business does not always = lots of profit
Also, many smaller/newer business get hung up because of cash flow. Basically if you are a small business that is not minority/veteran/disabled person owned you have to prove you don't need financing in order to get it. So if you really need it, and can't raise it within the family, you have to go to vulture I mean venture capitalists. Its not easy. It is harder and harder to make a small business go in this climate. |
03-03-2014, 03:42 PM | #173 | |
Obsessed and Loving It...
Drives: 2013 1LE-SS Join Date: Jun 2013
Location: Saginaw, MI
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Eric |
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03-03-2014, 04:32 PM | #174 | |
Drives: 2014 CRT Convertible ZL1 Join Date: Nov 2013
Location: NW NJ
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Quote:
My Dad started a business in 1950 with $500. Fed four families for 45 years, bought four homes for those families and sent 13 children to college. Convert that $500 to 2014 dollars and you have $5000. What business can you start for $5000 today? A hot dog cart costs more probably just in government taxes licenses and fees. Still the best country on earth but I fear the "land of opportunity" will need to be renamed "land of the handout". Its sad. |
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03-03-2014, 07:02 PM | #175 |
Drives: 2012 1SS M6 IOM Join Date: Dec 2012
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This very sad, i was just looking at some of there parts that i wanted.
Hope they come back.
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03-03-2014, 07:10 PM | #176 |
Drives: 19 Z06 Join Date: Nov 2011
Location: Oakville Ont.
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I hope they come back as well
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03-07-2014, 11:24 PM | #177 |
Drives: 2015 SS Sedan M6 Join Date: Dec 2009
Location: Dallas, TX
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hmm...I think this had something to do with it...
http://projects.propublica.org/recov...0120630/281295 and here page 147 http://www.mwcn.org/wp-content/uploa...on.webview.pdf They weren't under capitalized...they were in debt, and couldnt repay their loans. Found this too..though not sure if it's the same as the first link http://www.fedspending.org/faads/faa...ecord_num=f500 |
03-07-2014, 11:38 PM | #178 |
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03-08-2014, 12:58 AM | #179 | |
Obsessed and Loving It...
Drives: 2013 1LE-SS Join Date: Jun 2013
Location: Saginaw, MI
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Quote:
you can have all the orders in the world and even be back ordered and easily be in this situation. Not enough cash to expand to be able to meet orders, get some suppliers that you are using for steel, etc that start paying late in this economy, or not enough cash to be able to buy raw materials in sufficient bulk to keep the prices down where your margins need to be. Have a bank cut your LOC due to the economy...it's all easily possible no matter how many orders you have so don't google their name, find this info, and assume your being lied to believe me. Eric |
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03-08-2014, 01:10 AM | #180 |
Drives: 2014 2SS 1LE Join Date: Dec 2013
Location: Earth
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I hate to be the bearer of bad news.. there not comming back.
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03-08-2014, 11:34 AM | #181 |
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Interesting. Do you know this for an absolute fact? Just curious.
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03-08-2014, 02:45 PM | #182 | |
Drives: 2014 2SS 1LE Join Date: Dec 2013
Location: Earth
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Quote:
If a company can't get loans through private investors or banks that speaks volumes. Its not a strike against the quality of product but it could be profit margin or any number of other things such as careless spending lack of payment to vendors and so forth. When you look at the loans that were given by the business administration as stimulus money most of those companies are out of business today, and none have returned. It sucks what happened but I'm just thinking realistically IMO |
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Tags |
camaro, closed, headers, pfadt |
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