Well said. I felt the same way.
Toy,
History is to re-write itself.
- Like Farmtrac, Montana is tied to Textron for their floor planning. Textron is a THIRD PARTY financier,
intended to circumvent state buyback laws.
- Like Farmtrac, Montana dealers are starting to receive pressure to take on stock more than they'd conventionally. On page 125 of the
Tarboro court document, attorneys used the term "chattel stocking."
**Note: this is a large file. It may take a few minutes.**
Chattel Stocking "stuffs" the product pipeline; a "short-term solution" that is a *bad* sign for future business.
- Like Farmtrac, Montana deals with Escorts, Ltd. of India, who is on shaky financial ground.
- Like Farmtrac, Montana dealers are beginning to drop off.
- Like Farmtrac, some Montana dealers may be pressed into signing a Confidentiality Agreement. Textron acct. mgr. Kurt Schenk uses it as part of a "bait" to negotiate product purchase price to dealers. He tells dealers "you have to sign a C.A.
then we can negotiate price."
It's a sucker bet. No financier should ever have to hide anything to negotiate with a dealer.
--Say "NO" to confidentiality agreements.
--Say "NO" to being suckered in to CA's on the chance of *possible* deals.
Sorry Montana fans, bloggings about the Farmtrac situation (battling its way through courts in Providence, RI and Raleigh [N.C.] ) are anything *but* empty banter.
Read and heed.
Thx,
--blueliner