SESS
Gold Member
To all dealers: Please give me a couple days to get the minutes from the meeting in Tarboro typed up and we will get those out to you ASAP so that you know what we found out. Thanks!
FarmTrac Troubles
- Thread starter gamble77
- Start date
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I have been asked to remind everyone that this is a public board. Please do not discuss anything that is not in the public arena. If you don't know it is public, error on the side of private information.
One of the hardest things to do is to not reply to information you know is incorrect. We have moved past the point of openly talking about things here.
Tim
One of the hardest things to do is to not reply to information you know is incorrect. We have moved past the point of openly talking about things here.
Tim
Slacker
Gold Member
If an update or decison on warranty coverage or rebate status was made in the Tarboro meeting would someone IM me the info please? Thanks.
SESS
Gold Member
Here is an article published today from the Daily Southerner out of Tarboro, NC.....
Farmtrac auction draws opinionated crowd
T. J. ROYAL
Staff Writer
More than 300 dealers and individuals from all over the state, the Southeast and outside the United States descended on Tarboro Friday for the Farmtrac salvage auction. It was held on Hope Lodge Street across from Stocks Elementary School.
Country Boys Auction & Realty, based in Washington, N.C., handled the auction, with Mike Gurkins serving as auctioneer for part of the morning sale.
Doug Gurkins, who runs Country Boys Auction & Realty with Mike, his son, was appointed by attorney Jim Marrow, Farmtrac's receiver, to sort through the beleaguered company's finance and accounting backlog.
Before Friday's auction, Farmtrac retailers from across the U.S. met Thursday with Marrow and Doug Gurkins to discuss the state of the financially crippled company.
Before Thursday's meeting, Marrow said the sale was part of a cleanup project slated to generate revenue for the troubled tractor company.
Doug Gurkins was present at the auction. Marrow was not present because of personal business.
Some of the people who came were curious to see what equipment was for sale. Others came to take advantage of discounted prices on used, discontinued Farmtrac parts, operable tractors and scrap metal that were put on the auction block.
Most of the attendees came to connect with fellow individuals and dealers, to try to address their dire financial situation and understand what the auction meant for their livelihoods and their futures in the tractor industry.
Kevin Taylor, a Farmtrac dealer from Corydon, Ind., arrived in Tarboro Thursday afternoon for Friday's auction. Taylor said he signed on with Farmtrac in the tractor industry because he was confident their brand could help "save" his company, Kevin Taylor Farm & Construction Repair.
Now, Taylor feels signing on with Farmtrac "looks like it's going to take us under."
After he saw a lot of four-wheel drive tractor axles go for $5,900, Taylor said the dealers will "never see a penny" of the money from Friday's auction. "You can bet on that," Taylor added.
That's because the money gathered from the auction is certain to go largely to Atlanta company Textron Financial, Farmtrac's largest secured creditor that is owed more than $12 million by the Tarboro company.
Tony Pearce, 59, is one of 12 current Farmtrac employees put in place by Jim Marrow to work with Doug Gurkins as a "skeleton" operation: to operate the company at minimal cost.
Pearce said he thought having Gurkins' help operating Farmtrac was a "big plus." He said he did not know what to expect the auction could do to help the company.
Albert Lester, 65, a Farmtrac dealer from Shreveport, La. was frank with his feelings about the auction.
"This is sad," Lester said.
One reason he felt that way, Lester said, was because the financial situation of the dealers did not allow them to take advantage of the discount prices.
"It's not feasible for us to buy anything and ship it back" to their business, Lester said.
He also said Farmtrac could have offered the parts to the dealers first. "In my opinion, they should have offered the dealers first shot" at the salvage items, Lester said, instead of putting them on the auction block to pay on their loans.
Lester said the $5,900 lot of axles had value if the purchaser could resell the items on the internet. "That would help the dealers" a little, he said.
But if the buyer was to sell that lot for just scrap metal, Lester said he "didn't want to see 'em load it.
"That'd be heart-breaking," Lester said.
Jae-Yong Sim, a marketing manager with LS Cable Company Ltd. of Seoul, South Korea, said he arrived in Tarboro last week to check on Farmtrac's legal situation.
"Through this auction, if they can get us the money" Sim said they are owed by Farmtrac, "that'd help.
"(I am) not so sure that'll happen," Sim said.
Tim Cooke, 42, who owns the Two Rivers Inc. tractor company in Drakesboro, Ky., said he felt "nothing" about the auction Friday. He did say that he felt the items "on the palettes should have been sold seven, eight years ago," instead of having to deal with them now.
Rob Meranda, 42, is a Farmtrac dealer from Clayton, Ind. who came for Friday's auction. If he lived closer, Meranda said he might be interested in buying some equipment. But since he lives in Indiana, and had a flight to catch at 4:30 p.m., he said it was "just a sale." to him.
"What happens here today ain't going to affect me tomorrow," Meranda said.
Danny Pait, 57, owner of Pait's Tractor, LLC in Evergreen, N.C., said he came to Friday's auction simply to be with friends and other dealers. "What they sold today was junk" Pait said, holding no interest for him.
Gurkins said sales figures from the auction would not be released to the public until the "proper procedure" has been followed. That includes notifying Farmtrac's creditors, including Textron Financial, about the auction's proceeds first, Gurkins said.
Farmtrac auction draws opinionated crowd
T. J. ROYAL
Staff Writer
More than 300 dealers and individuals from all over the state, the Southeast and outside the United States descended on Tarboro Friday for the Farmtrac salvage auction. It was held on Hope Lodge Street across from Stocks Elementary School.
Country Boys Auction & Realty, based in Washington, N.C., handled the auction, with Mike Gurkins serving as auctioneer for part of the morning sale.
Doug Gurkins, who runs Country Boys Auction & Realty with Mike, his son, was appointed by attorney Jim Marrow, Farmtrac's receiver, to sort through the beleaguered company's finance and accounting backlog.
Before Friday's auction, Farmtrac retailers from across the U.S. met Thursday with Marrow and Doug Gurkins to discuss the state of the financially crippled company.
Before Thursday's meeting, Marrow said the sale was part of a cleanup project slated to generate revenue for the troubled tractor company.
Doug Gurkins was present at the auction. Marrow was not present because of personal business.
Some of the people who came were curious to see what equipment was for sale. Others came to take advantage of discounted prices on used, discontinued Farmtrac parts, operable tractors and scrap metal that were put on the auction block.
Most of the attendees came to connect with fellow individuals and dealers, to try to address their dire financial situation and understand what the auction meant for their livelihoods and their futures in the tractor industry.
Kevin Taylor, a Farmtrac dealer from Corydon, Ind., arrived in Tarboro Thursday afternoon for Friday's auction. Taylor said he signed on with Farmtrac in the tractor industry because he was confident their brand could help "save" his company, Kevin Taylor Farm & Construction Repair.
Now, Taylor feels signing on with Farmtrac "looks like it's going to take us under."
After he saw a lot of four-wheel drive tractor axles go for $5,900, Taylor said the dealers will "never see a penny" of the money from Friday's auction. "You can bet on that," Taylor added.
That's because the money gathered from the auction is certain to go largely to Atlanta company Textron Financial, Farmtrac's largest secured creditor that is owed more than $12 million by the Tarboro company.
Tony Pearce, 59, is one of 12 current Farmtrac employees put in place by Jim Marrow to work with Doug Gurkins as a "skeleton" operation: to operate the company at minimal cost.
Pearce said he thought having Gurkins' help operating Farmtrac was a "big plus." He said he did not know what to expect the auction could do to help the company.
Albert Lester, 65, a Farmtrac dealer from Shreveport, La. was frank with his feelings about the auction.
"This is sad," Lester said.
One reason he felt that way, Lester said, was because the financial situation of the dealers did not allow them to take advantage of the discount prices.
"It's not feasible for us to buy anything and ship it back" to their business, Lester said.
He also said Farmtrac could have offered the parts to the dealers first. "In my opinion, they should have offered the dealers first shot" at the salvage items, Lester said, instead of putting them on the auction block to pay on their loans.
Lester said the $5,900 lot of axles had value if the purchaser could resell the items on the internet. "That would help the dealers" a little, he said.
But if the buyer was to sell that lot for just scrap metal, Lester said he "didn't want to see 'em load it.
"That'd be heart-breaking," Lester said.
Jae-Yong Sim, a marketing manager with LS Cable Company Ltd. of Seoul, South Korea, said he arrived in Tarboro last week to check on Farmtrac's legal situation.
"Through this auction, if they can get us the money" Sim said they are owed by Farmtrac, "that'd help.
"(I am) not so sure that'll happen," Sim said.
Tim Cooke, 42, who owns the Two Rivers Inc. tractor company in Drakesboro, Ky., said he felt "nothing" about the auction Friday. He did say that he felt the items "on the palettes should have been sold seven, eight years ago," instead of having to deal with them now.
Rob Meranda, 42, is a Farmtrac dealer from Clayton, Ind. who came for Friday's auction. If he lived closer, Meranda said he might be interested in buying some equipment. But since he lives in Indiana, and had a flight to catch at 4:30 p.m., he said it was "just a sale." to him.
"What happens here today ain't going to affect me tomorrow," Meranda said.
Danny Pait, 57, owner of Pait's Tractor, LLC in Evergreen, N.C., said he came to Friday's auction simply to be with friends and other dealers. "What they sold today was junk" Pait said, holding no interest for him.
Gurkins said sales figures from the auction would not be released to the public until the "proper procedure" has been followed. That includes notifying Farmtrac's creditors, including Textron Financial, about the auction's proceeds first, Gurkins said.
Brentwood Power Equipment
New member
- Joined
- Mar 7, 2008
- Messages
- 24
So it sounds like we are back at square one, with the exception that Farmtracs' yard is a little cleaner. I'm thinking I may turn my inventory into a rental fleet just to get some money flowing!
chh
Veteran Member
Interesting to see one of the quotes in the article describe the items as junk. I know a Montana dealer that flew down and bought 2 semi loads from the auction and is having them brought to OK to repair and resell. He only bought tractors that were like the Montana's so he could be sure and get parts for them.
I hope the Farmtrac dealers got some things worked and planned at the meeting. Still wishing all you guys the best.
I hope the Farmtrac dealers got some things worked and planned at the meeting. Still wishing all you guys the best.
Hi everyone, just made it back today,long drive and we ran into some real bad weather in Tenn. and Miss. and had to hunker down awhile. met a great group of dealers and had a good (and long) meeting.the support from those unable to attend, much appreciated,thanks------Taxpayer
SESS
Gold Member
Did all the dealers get their minutes sent to them? Send me a PM if you did not.
well,things are sure quite on this thread now.it's as if everyone thinks the problem was solved by one meeting. far from it,rest assured,the big T has not forgoten about the money they contend the dealers owe. another thing that irks me is the fact, mr.marrow has no problem billing me for parts but ,says there is no money to pay the dealers for warranty work,salesman bonuses,etc. it seems to me this could be deducted from the amount owed by dealers. but alas,again everything for the company and nothing for the dealer. guys & gals,so far this forum has been the only voice we have had available to us, and much has been accomplished through it's use. many dealers throughout the country are not aware of this forum and do not know what to do. please make everyone you know affected by farmtrac's closing and textron's hardball tactics aware of this site. we need everyones input.if you are not willing to fight for your rights, someone will always take them away from you.this is how I feel.----Taxpayer
It's been an interesting saga for this old retiree with his almost new 360TLB and a mere 64 hours after 1.5 years. I think I have read all 75 pages of posts, although my mind, unlike my very reliable Farmtrac, tends to fail once in a while. I have seen my local dealer's lot go from rows and rows of Farmtracs up front, to rows and rows of Farmtracs off to the side with the used tractors and equipment. Montana units now hold the prime spaces. I continue to support my dealer and have sung the praises of the machine to neighbors who are in the market for a new tractor, especially at the reduced prices under what I paid.
What would be helpful, however, would be a short paragraph summary of just where we are now. Is someone taking over the warranty program? Is the tractor brand history? Don't want anyone to subvert any legal cases pending, but it would be nice to pass that information to neighbors who love my tractor and are thinking about getting one for themselves.
My Kansas roots conjure up all sorts of memories of Farmall, Minneapolis Moline, Case etc etc tractor brands on the farms of my relatives. Surprisingly, during a recent 50 year reunion in said state, I saw many of the same machines still working. None of them were half as technologicallly advanced as the machine I own. I don't worry about the tractor, but I do worry about the small businessmen who are currently skewered by the bandits who brought all this on.
Enough rambling, it's cool out today and time to get back to my pond project. Love that backhoe and bucket combination. Sure is interesting how many new friends you get when you have a new tractor that can dig holes and move dirt--but what they don't quite understand is that diesel fuel costs 4.39 a gallon downtown (or 3.80 for offroad) and thus are appalled when you tell them you usually have a minimum charge of a tank of fuel (now about 40 bucks). I pulled one guy out of an 8 foot deep snow ditch last winter (that locked rear, lowest range,4Wd, first gear is truly awesome) and all he offered was a free pizza one night for my wife and I. The next time it happened (a month later) my tractor was "down" for a battery problem (heh). It cost him 150 bucks for a tow truck and two hours in the blowing snow. Ain't folks strange.
ml
What would be helpful, however, would be a short paragraph summary of just where we are now. Is someone taking over the warranty program? Is the tractor brand history? Don't want anyone to subvert any legal cases pending, but it would be nice to pass that information to neighbors who love my tractor and are thinking about getting one for themselves.
My Kansas roots conjure up all sorts of memories of Farmall, Minneapolis Moline, Case etc etc tractor brands on the farms of my relatives. Surprisingly, during a recent 50 year reunion in said state, I saw many of the same machines still working. None of them were half as technologicallly advanced as the machine I own. I don't worry about the tractor, but I do worry about the small businessmen who are currently skewered by the bandits who brought all this on.
Enough rambling, it's cool out today and time to get back to my pond project. Love that backhoe and bucket combination. Sure is interesting how many new friends you get when you have a new tractor that can dig holes and move dirt--but what they don't quite understand is that diesel fuel costs 4.39 a gallon downtown (or 3.80 for offroad) and thus are appalled when you tell them you usually have a minimum charge of a tank of fuel (now about 40 bucks). I pulled one guy out of an 8 foot deep snow ditch last winter (that locked rear, lowest range,4Wd, first gear is truly awesome) and all he offered was a free pizza one night for my wife and I. The next time it happened (a month later) my tractor was "down" for a battery problem (heh). It cost him 150 bucks for a tow truck and two hours in the blowing snow. Ain't folks strange.
ml
SESS
Gold Member
I posted this same response on another thread talking about Farmtrac and wanted to post the same thing here: Yes the dealers are quite since the meeting we went to in Tarboro. Why? It IS NOT because we learned what our fate as dealers or the future of Farmtrac is that is for sure! We came away with more questions than answers. We do not know anything more than when we left. Do we know what is going to happen to Farmtrac-NO. Do we know what is going to happen to us as a Farmtrac dealer-NO. Do we know if there is going to be warranty for the customers that already own a Farmtrac-NO. Do we know if there is going to be warranty for the new tractors that need to be sold-Probably some kind of warranty but what kind of warranty is yet to be seen. Do we know if the new tractors that need to be sold are going to be offered at "deep discounts"-NO. So what do all the Farmtrac dealers and Farmtrac owners know-NOTHING besides the fact that the sun will rise and set everyday. Other than that, we know nothing! Its a sad situation for so many good honest people. That I (we) do know!
I as a farmtrac dealer, have e-mailed my state attorney general about the whole farmtrac situation. The attorney general said initially he may offer some help as the state has buy back laws. Several weeks later, he e-mailed again and said since i had legal representation he could not proceed further. I have not hired an attorney, nor have i paid any money to the southwestern association. We can thank the southwestern association for this, i think. I used legal representation from them years ago, and they made the situation worse. It looks like they took a lot of members money and as yet produced no results.
I can't understand how a company can pull this scam on the dealers without State or federal intervention on the dealers behalf. I am one of the dealers that has a letter from the sales representative that states my tractors will not come due also.
Normally, i think these tractors would sell with discounts, but with the economy in the tank like it is in my area, i don't think even a 50% discount would move many. Textron, i think was in with this scheme with Farmtrac to ship tractors out of Tarborro, and i think they need to step up to the plate and accept it. The only solution in my opinion would be a large auction by Textron to dispose of the assets so the dealers can move on.
i
I can't understand how a company can pull this scam on the dealers without State or federal intervention on the dealers behalf. I am one of the dealers that has a letter from the sales representative that states my tractors will not come due also.
Normally, i think these tractors would sell with discounts, but with the economy in the tank like it is in my area, i don't think even a 50% discount would move many. Textron, i think was in with this scheme with Farmtrac to ship tractors out of Tarborro, and i think they need to step up to the plate and accept it. The only solution in my opinion would be a large auction by Textron to dispose of the assets so the dealers can move on.
i
CDsdad
Platinum Member
SESS said:
Since my post was the one which may have merited your response, I guess I will clarify what I posted in the other thread for those who haven't seen it.
I did not imply that I knew something was going on with Farmtrac.
My opinion is that there are some issues or potential issues related to the situation. I can't see encouraging discretion in disclosing info unless this were the case. Having been totally wrong in the past, I wouldn't be surprised to be totally wrong about this also. That was stated also.
I merely gave an opinion and a comparison of what happened to another company in a similar situation.
Agreed -- good people were hurt in this. Consumers, dealers, and employees alike.
Hopefully, when it's all over, facts can come out to prevent this from happening to other dealers, consumers, or employees of another company, no matter what business they may be in.
Could some of the many attorneys that are listening please tell the dealers why we can't bring Textron to there knees. There is proof that they knew about the dealer loading. It is also evident that it was in there best interest to get the tractors out from farmtrac and onto the dealers accounts. There are many things in our legal basket we can use to prove this and other things. This is wrong and unless the State Attorney's are in bed together with textron, something should happen. I think it is time to push back, and push harder than we ever have. BS from textron sell your own tractors.
Case
Case
case, I think you are exactly right,we must push back and hard.however it is most important that the dealers maintain their credibility. we may voice our opinions,frustrations and theories legimately on this forum and seek methods to combat the situation in a legal and acceptble manner. but we should not disscuss facts or information we may later need to build a legal case publicly.I hope and have every reason to believe that, a private bulliten board is being put into place whereby these facts and information may be safely disscussed.lets not let anger (and I am)replace reason.I would like to make this suggestion,as was pointed out in an earlier post, the attorney generals in different states have been less that enthusatic in addressing our concerns. perhaps if we began contacting our representives and senators, both on a state and federal level and sharinging our story and the injustice being done to the dealers and customers alike, we may be able to bring about the kind of pressure nessessary to get an investigation started by the appropriate authorities with the legal muscle to get things done.express your outrage and if nessessary remind them that you VOTE in their district not our opponents. I've said enough at this point, but I'm passionate about this,I nor my customers who trusted me, have done nothing wrong and should not be penalized for simply being good citizens. your feedback please.-----Taxpayercase1570 said:
redneckford
Platinum Member
I agree taxpayer put you dealers must find a way to get the correct information to the general public (your customers and mine) Many other brand dealers are telling out right lies to make farmtrac dealer look less than honest (some farmtrac dealers are not being up front with their customers) and the true facts are hard to sort out unless you read all 76 pages of this thread/post and after reading them it is hard to believe this could really happen in the USA unless it is happening to you. You dealers need to get the state media involved in the story (Get someone from the LOCAL papers to read this tread and contact the NC newspaper)or you will become part of the story for covering up the truth??? It is time to face this problem head on before any more blame is place on dealers and unsuspecting customers. The truth will hurt in the short run but survival depends on the facts A---L---L the FACTS!!!! I know some information is best left to the attorneys but remember many people talk and they will talk about what they heard not what the facts are so the more facts that you can get to the public (sooner the better) the more others (honest competative dealers)can do to support your situation and maybe learn something so that it does not happen to them in the future. You and I know that with the ecomony and housing situation that this situation could play out a few more times with some other brands whether we want to admit it are not!!!
Ladies, and Gentle men. Owners all...
I am but a lowly 535fel owner.. I have read all the pages in the quorum...
Its time... to gather all the dealers, all the owners of Farmtrac tractors and equipment, those still under warranty, those with Less than zero, those with extended factory warranty.
You know who they are from your dealership records..
Contact a large law firm.. and get a class action suit with Escort Group..
Leg work will have to be done... contacting all the purchasers and dealers ... the a form letter ....
This is the only way your ever going to get any results..... Farmtrac North America is history... no chapter 11 reorganizations, not ever chapter 7.. The doors are shut... If anything came from your meeting it should have been the realization that your stuck with textron trying to bully you into selling when you are not required to.. plus textron.. knew of the dealer loading... and never informed you... Textron is not your friend... Time to take action instead of waiting for the other shoe to drop on your toes
I will be one of the first to join up.... and be willing to pony up a couple of bucks to help move the action forward..
But there needs to be a consensus before any movement can be done... and in any movement that is to be done... then it can not be referenced in a public quorum.
JMO...
my 535 ... 54 hours.. took owner ship in 9/2007... 3 year warranty, less than zero.
and so far thats what I have.... Less than ZERO...
I am but a lowly 535fel owner.. I have read all the pages in the quorum...
Its time... to gather all the dealers, all the owners of Farmtrac tractors and equipment, those still under warranty, those with Less than zero, those with extended factory warranty.
You know who they are from your dealership records..
Contact a large law firm.. and get a class action suit with Escort Group..
Leg work will have to be done... contacting all the purchasers and dealers ... the a form letter ....
This is the only way your ever going to get any results..... Farmtrac North America is history... no chapter 11 reorganizations, not ever chapter 7.. The doors are shut... If anything came from your meeting it should have been the realization that your stuck with textron trying to bully you into selling when you are not required to.. plus textron.. knew of the dealer loading... and never informed you... Textron is not your friend... Time to take action instead of waiting for the other shoe to drop on your toes
I will be one of the first to join up.... and be willing to pony up a couple of bucks to help move the action forward..
But there needs to be a consensus before any movement can be done... and in any movement that is to be done... then it can not be referenced in a public quorum.
JMO...
my 535 ... 54 hours.. took owner ship in 9/2007... 3 year warranty, less than zero.
and so far thats what I have.... Less than ZERO...
MessickFarmEqu
Super Member
The constant bashing of textron is getting a bit old. That company bankrolls probably 2/3 of the smaller equipment companies. We deal with them daily, they certianly are not crooks. When an individual ceases to pay their mortage you don't blame the lender. Its not textrons job to question the way Farm-Trac was managed. Farm-Trac got themselves in this hole, now textron is left to dispose of the mess. They're going to do it in their own best interest, as any lender would... and frankly should. I do have sympathy for all those who are impacted by this, but whats happening here is pure and simple business.
