Crane Cams TO REOPEN

[Bruce Noland]

You are the lucky one. They haven't paid some of us for two years.

[Dan Fletcher]

lucky isn't even the word...I'm stuck for over $5k from last year...and they sure aren't the only one...I'm guessing I don't have to tell you who the others are...

[Michael Lyons]

do tell Dan, so that way the rest of us know who NOT to buy from, so we don't get "stuck" too as you so eloquently put it.

[treessavoy]

I think that Crane will be concentrating keeping the company up and running and unfortunately we will not be a high priority for the company, but at least they will be back in business.

I don't want to lessen the impact on racers but think of the 280 people that got their jobs back, that's 280 families that once again have a future.

Jim

[Chaserfan Fan]

Originally Posted by treessavoy

I think that Crane will be concentrating keeping the company up and running and unfortunately we will not be a high priority for the company, but at least they will be back in business.

I don't want to lessen the impact on racers but think of the 280 people that got their jobs back, that's 280 families that once again have a future.

Jim

Jim I agree with you , I know Dan has a much bigger stake in this then the rest of us Because that is how he feeds his family . Crane owes us about 400.00 bucks from last year , which i don`t think we will ever see . But it will take some of the sting out , Knowing some 200 people will be getting a paycheck again

[mtkawboy]

Dont know if its true but I heard that Edelbrock laid off 50% of its work force & Holley filed for bancruptsy

[Freddie]

Originally Posted by treessavoy

I don't want to lessen the impact on racers but think of the 280 people that got their jobs back, that's 280 families that once again have a future.

Jim

Jim: I didn't read anywhere that they were calling the employees back to work, only that they were let go. Most of the time In my experiance, when company does a restructuring deal like this one, they stay closed just long enopugh to not have to re-hire any old employees, or pay any prior debt. So when they re-structure and re-open they basicly start fresh, and are open to hire lower paid empolyees to help enhance thier bottom line in the future. Now I am not saying that this is whay Crane is doing, I dont work for them and dont know what they are planning, I am just stating that im my experiance this is the norm. I have bought and sold companies before, and this is a standard parctice when buying a struggling company.

So there is no guarantee that these poor 280 loyal employees will get thier jobs back, when they re-open thay may only hire 1/2 as many back, and may all be new employees. I have learned a long time ago, there is no more company loyalty. The days of working in the same job for your 25+ years getting your retirement and retireing anre very few and far in between.

[Bryan Worner]

Originally Posted by Duane Eiskant II

Got all my checks from Crane and never had a problem getting them to pay.

They still owe me $500 from last year! As long as I don't get that money......I don't buy another product from Crane! In fact, I'm in the process of replacing everything that is Crane on my car!!

[treessavoy]

Originally Posted by Freddie

Jim: I didn't read anywhere that they were calling the employees back to work, only that they were let go. Most of the time In my experiance, when company does a restructuring deal like this one, they stay closed just long enopugh to not have to re-hire any old employees, or pay any prior debt. So when they re-structure and re-open they basicly start fresh, and are open to hire lower paid empolyees to help enhance thier bottom line in the future. Now I am not saying that this is whay Crane is doing, I dont work for them and dont know what they are planning, I am just stating that im my experiance this is the norm. I have bought and sold companies before, and this is a standard parctice when buying a struggling company.

So there is no guarantee that these poor 280 loyal employees will get thier jobs back, when they re-open thay may only hire 1/2 as many back, and may all be new employees. I have learned a long time ago, there is no more company loyalty. The days of working in the same job for your 25+ years getting your retirement and retireing anre very few and far in between.

Freddie you might be right I was assuming that they were going back to business as usual since I had'nt heard about any restructuring plans being formed.

With this economy I know we are going to see more of this.

Jim