Status of Everything Attachments

[5030]

I prefer a Seiko 5 sports automatic or a Seiko GMT myself. In fact I have one on my wrist presently. MY Rolex GMT Master stays in the drawer most of the time.

 

[2manyrocks]

I knew a guy who owned a Rolls Royce and a Learjet, but drove a Nissan pickup to his plant.

 

[aesanders]

It’s not like EA makes the best products hands down across the board. They had some good items. I’d take a Brown rotary cutter over an EA any day of the week. Plenty of heavy duty box blades around. There grapples were top notch and really what put them on the map, but there are plenty of other good grapples out there.

Maybe they will straighten the ship, but they would have to straighten the ship and then consistently do it for awhile before I would even consider purchasing from them, and then no way in hell would it be a pay now and get product 6 months from now scenario.

 

[1 Old Man]

Just learn, remember and beware.
“Those who cannot remember the past are condemned to repeat it.” – George Santayana, The Life of Reason, 1905. From the series Great Ideas of Western Man.

 

[deezler]

I guess most companies must be stupid. No one has copied their designs and cashed in on the opportunity.

Maybe they were not making much margin?

They were in business a long time and still had to use customers money to fund day to day inventory/operations. Think about that.

Man, I sure hope they were making some margin when asking three THOUSAND dollars for a grapple that is only marginally better than a $1200 one from MTL, haha.

EA did have some very sturdy rear blades, box blades, land levelers, etc. Heavy stuff, lotta steel and a lotta welding to get those made.

 

[Bobctat2035]

Man, I sure hope they were making some margin when asking three THOUSAND dollars for a grapple that is only marginally better than a $1200 one from MTL, haha.

EA did have some very sturdy rear blades, box blades, land levelers, etc. Heavy stuff, lotta steel and a lotta welding to get those made.

You don't build a $5m glass house without a lot of margin. Anyone who has actually been paying attention and gives this guy money again is a maso*hist cuck.

 

[jjp8182]

It’s not like EA makes the best products hands down across the board. They had some good items. I’d take a Brown rotary cutter over an EA any day of the week. Plenty of heavy duty box blades around. There grapples were top notch and really what put them on the map, but there are plenty of other good grapples out there.

Maybe they will straighten the ship, but they would have to straighten the ship and then consistently do it for awhile before I would even consider purchasing from them, and then no way in hell would it be a pay now and get product 6 months from now scenario.

Pretty sure they aren't going to have the customer demand to create a 6 month backlog anytime soon - especially only selling for local pickup.

If they they get through the legal issues intact they probably won't be far from totally starting over from scratch (plus whatever IP they have/retain in the way of patents, web domains, and legal business names).

This video feels like it was made partially to let the customer-based know what's going on, but more to use as evidence in the legal disputes. ..and I'm pretty sure resolving those disputes isn't going to be cheap as this doesn't look like the first time the construction company has been involved in litigation - and financial institutions being what they are..... so I suspect the new building may get it's certificate of occupancy and likely won't be a usable structure (even if waivers have/are currently being granted).....

Having said that I also agree with your first paragraph and hope that if/when they do re-start selling equipment they focus on the things they've done well and slow the rate at which they are growing/expanding the lines of new equipment (even working kinks out of a redevelopment takes time/effort/money). They already have a fair number of items that are unique to them they could capitalize on for recovery/restart - not sure if they hold patents preventing others from copying those items, or if other companies have just been too lazy & risk-adverse to make something similar.

An example of an item seemingly unique to EA*: the cat 1/2 3pt ITA II fork frames. I bought a set a few years ago because they were the only company that I saw making such an item (everyone else I found only had 3pt pallet movers or 3pt "forks" with welded tines) and I'd had prior experience with buying from EA. At this point I'm quite happy I got it when I did as it's proven rather useful over the last several years moving items that weight significantly more than I could lift with the loader on my tractor.

*if anyone does know of a US company (rather not deal with import processes if I don't have to) making a similar set of 3pt ITA II frames I'd like to know as I've been semi-tempted to get a second frame for use with ITA II attachments/specialty items.

 

[Advil]

We own a lot of their stuff. Glad they're still going to be around so if I need box blade scarifiers, blade, replacement parts or pieces there's at least a chance of getting them.

I'd even order again from them, if the product and price are right. Though not payment in advance next time it'll have to be a payment method with buyer protection. We got both of our big orders before all the drama but since they've kind of sailed that boat trust with money up front is going to be a hard no going forward.

Not to defend their bad business decisions, but the actions of an outright fraudster wouldn't be to restructure and attempt to reopen and continue full business operation. That's the hardest road of all hard roads. That's something an entrepreneur who doesn't want to give up does not someone who only wanted to milk all the money and run.

So let's separate the internet hearsay and imagination from the facts of what we know. Which isn't much other than a big new building they can't use (for unknown reasons whatever 'occupancy' means in this context) pretty much bankrupted them while they were taking up front money from orders ending up robbing Peter to pay Paul. And one legit local article which made a side reference to the court proceedings freezing their ability to sell personal property assets until this was sorted out.

All the rest of it is a whole lot of people online slinging personal stories and mud. Many of which I don't trust not to be related to the competition or just have their own axe to grind.

They're back, their own comments in the video suggest court ordered financial oversight which is to be expected, and they're making product now and shipping product in a few weeks.

So, ok then. Let's see if they can hire some welders and get some quality product out the door again. The next 6 months will probably show if they're still a going concern or not. But it does look like it.

 

[JeepHead]

We own a lot of their stuff. Glad they're still going to be around so if I need box blade scarifiers, blade, replacement parts or pieces there's at least a chance of getting them.

I'd even order again from them, if the product and price are right. Though not payment in advance next time it'll have to be a payment method with buyer protection. We got both of our big orders before all the drama but since they've kind of sailed that boat trust with money up front is going to be a hard no going forward.

Not to defend their bad business decisions, but the actions of an outright fraudster wouldn't be to restructure and attempt to reopen and continue full business operation. That's the hardest road of all hard roads. That's something an entrepreneur who doesn't want to give up does not someone who only wanted to milk all the money and run.

So let's separate the internet hearsay and imagination from the facts of what we know. Which isn't much other than a big new building they can't use (for unknown reasons whatever 'occupancy' means in this context) pretty much bankrupted them while they were taking up front money from orders ending up robbing Peter to pay Paul. And one legit local article which made a side reference to the court proceedings freezing their ability to sell personal property assets until this was sorted out.

All the rest of it is a whole lot of people online slinging personal stories and mud. Many of which I don't trust not to be related to the competition or just have their own axe to grind.

They're back, their own comments in the video suggest court ordered financial oversight which is to be expected, and they're making product now and shipping product in a few weeks.

So, ok then. Let's see if they can hire some welders and get some quality product out the door again. The next 6 months will probably show if they're still a going concern or not. But it does look like it.

Not that easy. They betrayed a LOT of people and they don't just get to start making things again and people trust them again. Not by a lonnnng shot! First things first... They need to pay off every single check they cashed, every single transactions that they failed to refund on, needs paid back. Only then can they even begin to think they can start doing business again... By their own admission, 2.3 million cc transactions have been returned, of which most all wasn't willing but forced.

 

[MinnesotaEric]

We own a lot of their stuff. Glad they're still going to be around so if I need box blade scarifiers, blade, replacement parts or pieces there's at least a chance of getting them.

I'd even order again from them, if the product and price are right. Though not payment in advance next time it'll have to be a payment method with buyer protection. We got both of our big orders before all the drama but since they've kind of sailed that boat trust with money up front is going to be a hard no going forward.

Not to defend their bad business decisions, but the actions of an outright fraudster wouldn't be to restructure and attempt to reopen and continue full business operation. That's the hardest road of all hard roads. That's something an entrepreneur who doesn't want to give up does not someone who only wanted to milk all the money and run.

So let's separate the internet hearsay and imagination from the facts of what we know. Which isn't much other than a big new building they can't use (for unknown reasons whatever 'occupancy' means in this context) pretty much bankrupted them while they were taking up front money from orders ending up robbing Peter to pay Paul. And one legit local article which made a side reference to the court proceedings freezing their ability to sell personal property assets until this was sorted out.

All the rest of it is a whole lot of people online slinging personal stories and mud. Many of which I don't trust not to be related to the competition or just have their own axe to grind.

They're back, their own comments in the video suggest court ordered financial oversight which is to be expected, and they're making product now and shipping product in a few weeks.

So, ok then. Let's see if they can hire some welders and get some quality product out the door again. The next 6 months will probably show if they're still a going concern or not. But it does look like it.

I wish Ted and EA all the luck in the world.

Although I don't understand what happened other than seemingly, EA couldn't move into the new building because at least one sub-contractor changed the spec (FWIW, my father invented the spec in architecture back before the earth's crust cooled), experience tells me that on any serious building expansion, take out a bond to insure against all things unexpected. Anyway, from what I think I know, EA couldn't get an occupancy permit.

And. then. drama. ensued.

and the finger-pointing began in earnest.

What I do find interesting is how many want to condemn Ted. While I recognize that like the real estate business from 2019 through 2022, demand increased to the point of lunacy making for a wild ride, most thoughtful planners knew this increase in demand was not only a generational thing with boomers retiring en masse, but from pent-up households looking for recreational activities. In the real estate business, many either took an early retirement or recognized they can work from home--with both groups asking themselves why maintain both a vacation home as well as a residential home when one home will do just fine in our new, brave world?

Anyway, sales in discretionary goods went through the roof, but that uptick was not sustainable.

Okay, so EA hoped to cash in and expand with the opportunity whether they saw these additional sales as a flash in the pan and hoped to leverage their company reach while they could, or they thought the sales were sustainable. Regardless, they took steps to increase their manufacturing capacity and leveraged up to do so.

But leverage is just a business term for "took out a loan" and it is okay to take out loans.

People here are too often talking like Ted is a shyster.

He took money out of his business!
He purchased nice things!
He didn't manage his risk! (only seen now in hindsight)

Well, duh. That is what everybody does. But give credit to Ted, unwise or not, Ted risked everything and sadly, unexpectedly, it didn't work out as intended.

Anyway, I wish Ted, and EA all the charity in the world and hope all can move on and heal any who have been financially impugned by the ordeal.