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Old 03-03-2014, 10:23 AM   #169
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Wow. Just now saw this. I'm just stunned; first Pedders and now Pfadt. Aaron, you guys need to get together with Justice Pete and see what you can put together. The combined experience, knowledge and skill you would have would be legendary. I love your Tri-Y headers; I get compliments on the sound all the time.

You got my prayers man.
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Old 03-03-2014, 01:23 PM   #170
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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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Old 03-03-2014, 02:14 PM   #171
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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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Old 03-03-2014, 02:26 PM   #172
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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.
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Old 03-03-2014, 03:42 PM   #173
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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.
Dead on analysis. As a small business owner in this economy I can tell you that a line of credit is your greatest asset right now IF you can keep it.

Eric
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Old 03-03-2014, 04:32 PM   #174
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Dead on analysis. As a small business owner in this economy I can tell you that a line of credit is your greatest asset right now IF you can keep it.

Eric
The sad part is the diminishing opportunity out there.

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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Old 03-03-2014, 07:02 PM   #175
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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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Old 03-03-2014, 07:10 PM   #176
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I hope they come back as well
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Old 03-07-2014, 11:24 PM   #177
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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
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Old 03-07-2014, 11:38 PM   #178
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Interesting here too

http://www.pfadtracing.com/blog/pfad...ng-has-closed/
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Old 03-08-2014, 12:58 AM   #179
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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
Getting small business loans or grants doesn't mean they were not under capitalized nor does it mean they didn't repay them. A small business loan or grant for a couple hundred grand isn't a drop in the bucket if your business is of any size at all. Hell 200K in many cases might not even get you setup in a building and allow you to get started...

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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Old 03-08-2014, 01:10 AM   #180
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I hate to be the bearer of bad news.. there not comming back.
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Old 03-08-2014, 11:34 AM   #181
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I hate to be the bearer of bad news.. there not comming back.
Interesting. Do you know this for an absolute fact? Just curious.
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Old 03-08-2014, 02:45 PM   #182
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Interesting. Do you know this for an absolute fact? Just curious.
Absolute fact No, however if you look at the facts it tells a story. Their loaned stimulus money totaling 235,000. They're under investigation by a private nonprofit journalist organization.

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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