Status of Everything Attachments

[nouveauree]

That's 3.7 miles from the factory. There's some connection I guess.View attachment 854405View attachment 854406View attachment 854407View attachment 854408

I think there was a hearing today in court on the restraining order and the transfer of all assets to the bank. Wonder if Hickory Record will report on it. Hoping the Hickory Record actually does some real journalism...would love to see investigative journalism rather than write about things we already know.

 

[MossRoad]

I found it kind of humorous that one of the retained attorneys for Ted Corriher is "S. Windle".

Can't make that stuff up!

 

[3 Horse Ranch]

That's 3.7 miles from the factory. There's some connection I guess.View attachment 854405View attachment 854406View attachment 854407View attachment 854408

The difference between what I posted and this is one is before and one is after moving to Emmanuel Church Rd.
Looking at Google Earth history, it appears that EA moved from this location to Emmanuel Church Rd sometime in 2019, before the Covid rush. The GE satellite images show an apparently unused building on November 15, 2018 and staffed and occupied building with finished implements in the yard on August 29, 2019.
Guessing that Ted saw the Covid rush as being a sign if things to come so he decided to triple his production floor space when maybe he should have just tripled his hours of production. (hindsight is 20-20) When the Covid bubble burst he was in over his head. Not too much different from what happened to a lot of land developers in 2006-8. The difference is what he did to try to hold on, and worse still what he did when he knew he couldn't hold on much longer.

 

[Rich_Z]

I found it kind of humorous that one of the retained attorneys for Ted Corriher is "S. Windle".

Well, since no one commented on another anomaly with that attorney's name, allow me... His first name is "STEELE".

 

[1 Old Man]

3 Horse Ranch: "

Just guessing on my part, but I think the photos are 2017-2019 vintage, the image on the trailer says to email Rick, which is a name I've not seen mentioned in this thread.

Rick Huffman, sales guy.

 

[goeduck]

The website is still up so I perused it. Making that much equipment AND being a rep for all those other brands (many of which competed with EA) was getting way out over their skis. No wonder Ted face planted.

 

[Jstpssng]

The website is still up so I perused it. Making that much equipment AND being a rep for all those other brands (many of which competed with EA) was getting way out over their skis. No wonder Ted face planted.

I'm sure that the divorce didn't help.

 

[oosik]

Reminds me of an historic statement.

"This is not the end - it is not even the beginning of the end. However - it may well be the end of the beginning."

Sir Winston Churchill - commenting on WW11 and the German aerial bombing of London.

 

[jmc]

The website is still up so I perused it. Making that much equipment AND being a rep for all those other brands (many of which competed with EA) was getting way out over their skis. No wonder Ted face planted.

I wondered about that way back, when EA was making attachments in competition with attachments they were only distributing. Couldn't make them too popular with suppliers.

Random thought: someone posted here that Ted was considering a run for Congress. If true, that would be one data point for delusions of grandeur. Over-expansion might be another.

 

[sixdogs]

The business looks like it got caught by its own karma. They sold short and lent long and that didn't work when the price of steel and labor spiked and the price they pre-sold stayed the same. You lose on each order out the door.

That's a slow bleed on escrowed funds and a grade school math problem on how long those trains run before they meet each other.

 

[workinonit]

It's part of selling products months before you can deliver them. It's just a bad business model.

 

[rbstern]

It's part of selling products months before you can deliver them. It's just a bad business model.

It's not a bad model. It's just missing a key leg: The standard approach to make that model work is commodities hedge contracts.

The airlines do it with fuel, to make the cost predictable, since they are selling tickets well in advance of providing service, and fuel costs are the biggest uncontrolled variable in providing the service.

 

[Fuddyduddy1952]

How many people would eat at Waffle House if they said "Pay in full now and you'll get your pancakes & coffee next Thursday".
People would be so outraged they'd be calling S.windle, S.windle, Shyster & Steele!!!

 

[shooterdon]

How many people would eat at Waffle House if they said "Pay in full now and you'll get your pancakes & coffee next Thursday".
People would be so outraged they'd be calling S.windle, S.windle, Shyster & Steele!!!

A bit of reversal. "I'll gladly give you a hamburger Tuesday, if you pay me today?

 

[3 Horse Ranch]

It's not a bad model. It's just missing a key leg: The standard approach to make that model work is commodities hedge contracts.

The airlines do it with fuel, to make the cost predictable, since they are selling tickets well in advance of providing service, and fuel costs are the biggest uncontrolled variable in providing the service.

It's a bad business model for a small business that doesn't have the leverage to demand a hedge contract.
EA only started this model during and because of Covid. The photos of their original site shows a yard full of completed attachments awaiting orders so they could ship. Moving to Emmanuel Church Rd was likely a sound idea, but that building had to cost a few bucks. He may have paid cash for it, who knows, but likely he had a business loan to buy it. There about two years and he decides to build a new building 3 times the size based only on Covid sales spikes, not long term sales. Somewhere between the move which was apparently in 2019 and now, EA totally lost their way.

 

[MoKelly]

A bit of reversal. "I'll gladly give you a hamburger Tuesday, if you pay me today?

Not quite the same but I see this at many bars—- “free beer - tomorrow”!

 

[34Willys]

someone posted here that Ted was considering a run for Congress

Seems to me he would make an awesome typical Congressman:

1. He lies to his customers/constituency
2. He syphons off customer down payment/taxes for his own personal use and wealth building
3. Spends way more money than was paid/confiscated from the people he supposedly serves.
Basic politics 101

Patrick

 

[Gator6x4]

The pay up front became common place as more and more people did not come back for the product they ordered and the dealer had to either stock a part not needed but once every 4-5 years or return it to the distributor and pay a restocking fee.

Let me share a personal experience with this.

I had a neighbor (Deceased Now) he called me one night and said one of the other neighbors had told him I knew and had a friend that ran an automotive parts house. I told him that was correct. He advised he needed a part for a vehicle and gave me the make and model number.

He questioned my asking him for the serial number. I advised him he was looking for an engine part and most parts houses used the 8th digit of the vin to insure the correct part was ordered. He provided the serial number. I called my friend the next morning and he said that was a slow sell part and most people including him did not stock the part.

He advised he had entered the part number in the parts locator network and if one was available he would be alerted. He called back that afternoon and said a dealer in a town 35 miles away had the part and provided me the phone number to call. I called and the gentleman that had the part. I asked him to hold the part for me and I would pick it up the next day.

I called the neighbor and told him where the part was at. He advised he could not go after the part and asked me if I could go. I told him I wasn't doing anything that day and would go.

The next morning I got up, the wife and I had breakfast out and I went for the part. The gentleman at the parts house informed me there would be a 25% re-stocking fee if I brought the part back.

I brought the part home with me and stopped at the neighbors gave him the bill and the part and he grumbling and mumbling paid me. Two days later he called and advised he had been discussing the parts purchase with others and they were telling him that I and the Parts House had ripped him off and he wanted his money back.

I gave him his money back and the next day took the part back to the Parts House paid the 25% restocking fee and told the Part person what had happened. He advised the part was the only one within a several hundred mile radius and asked for the gentleman's name. He advised if he or his friends called he was going to tell them the part was no longer available.

I came home. Three days later the neighbor called and wanted the telephone number of the Part House that had the part because he could not find one. I gave him the number. Two days later he called me up shouting and cursing because I instead of selling him the part at a price he and his friend thought was enough for the part had taken it back and now he could not find the part to fix his vehicle.

I told him I hoped he never found the part because I had done him a favor and drove 35 miles to get the part and paid a 25% restocking fee to take the product back and my suggestion for him was instead of calling me, to call his friends who told him the Parts House and I had ripped him off and have them to find and buy the part and then give him the part if they could or would.

I know this was long. But gentleman that is exactly why today when you go to buy something and it is not setting on the counter in front of you, you are being asked to pay up front for the product. There are too many people in the world today like my ex-neighbor.

 

[3 Horse Ranch]

The pay up front became common place as more and more people did not come back for the product they ordered and the dealer had to either stock a part not needed but once every 4-5 years or return it to the distributor and pay a restocking fee.

Let me share a personal experience with this.

I had a neighbor (Deceased Now) he called me one night and said one of the other neighbors had told him I knew and had a friend that ran an automotive parts house. I told him that was correct. He advised he needed a part for a vehicle and gave me the make and model number.

He questioned my asking him for the serial number. I advised him he was looking for an engine part and most parts houses used the 8th digit of the vin to insure the correct part was ordered. He provided the serial number. I called my friend the next morning and he said that was a slow sell part and most people including him did not stock the part.

He advised he had entered the part number in the parts locator network and if one was available he would be alerted. He called back that afternoon and said a dealer in a town 35 miles away had the part and provided me the phone number to call. I called and the gentleman that had the part. I asked him to hold the part for me and I would pick it up the next day.

I called the neighbor and told him where the part was at. He advised he could not go after the part and asked me if I could go. I told him I wasn't doing anything that day and would go.

The next morning I got up, the wife and I had breakfast out and I went for the part. The gentleman at the parts house informed me there would be a 25% re-stocking fee if I brought the part back.

I brought the part home with me and stopped at the neighbors gave him the bill and the part and he grumbling and mumbling paid me. Two days later he called and advised he had been discussing the parts purchase with others and they were telling him that I and the Parts House had ripped him off and he wanted his money back.

I gave him his money back and the next day took the part back to the Parts House paid the 25% restocking fee and told the Part person what had happened. He advised the part was the only one within a several hundred mile radius and asked for the gentleman's name. He advised if he or his friends called he was going to tell them the part was no longer available.

I came home. Three days later the neighbor called and wanted the telephone number of the Part House that had the part because he could not find one. I gave him the number. Two days later he called me up shouting and cursing because I instead of selling him the part at a price he and his friend thought was enough for the part had taken it back and now he could not find the part to fix his vehicle.

I told him I hoped he never found the part because I had done him a favor and drove 35 miles to get the part and paid a 25% restocking fee to take the product back and my suggestion for him was instead of calling me, to call his friends who told him the Parts House and I had ripped him off and have them to find and buy the part and then give him the part if they could or would.

I know this was long. But gentleman that is exactly why today when you go to buy something and it is not setting on the counter in front of you, you are being asked to pay up front for the product. There are too many people in the world today like my ex-neighbor.

Interesting story, but it is apples an oranges to the subject of this thread. There is nothing that EA made that was so unique that it couldn't be sold the next day or the next week.

 

[tradosaurus]

The pay up front became common place as more and more people did not come back for the product they ordered and the dealer had to either stock a part not needed but once every 4-5 years or return it to the distributor and pay a restocking fee.

Let me share a personal experience with this.

I had a neighbor (Deceased Now) he called me one night and said one of the other neighbors had told him I knew and had a friend that ran an automotive parts house. I told him that was correct. He advised he needed a part for a vehicle and gave me the make and model number.

He questioned my asking him for the serial number. I advised him he was looking for an engine part and most parts houses used the 8th digit of the vin to insure the correct part was ordered. He provided the serial number. I called my friend the next morning and he said that was a slow sell part and most people including him did not stock the part.

He advised he had entered the part number in the parts locator network and if one was available he would be alerted. He called back that afternoon and said a dealer in a town 35 miles away had the part and provided me the phone number to call. I called and the gentleman that had the part. I asked him to hold the part for me and I would pick it up the next day.

I called the neighbor and told him where the part was at. He advised he could not go after the part and asked me if I could go. I told him I wasn't doing anything that day and would go.

The next morning I got up, the wife and I had breakfast out and I went for the part. The gentleman at the parts house informed me there would be a 25% re-stocking fee if I brought the part back.

I brought the part home with me and stopped at the neighbors gave him the bill and the part and he grumbling and mumbling paid me. Two days later he called and advised he had been discussing the parts purchase with others and they were telling him that I and the Parts House had ripped him off and he wanted his money back.

I gave him his money back and the next day took the part back to the Parts House paid the 25% restocking fee and told the Part person what had happened. He advised the part was the only one within a several hundred mile radius and asked for the gentleman's name. He advised if he or his friends called he was going to tell them the part was no longer available.

I came home. Three days later the neighbor called and wanted the telephone number of the Part House that had the part because he could not find one. I gave him the number. Two days later he called me up shouting and cursing because I instead of selling him the part at a price he and his friend thought was enough for the part had taken it back and now he could not find the part to fix his vehicle.

I told him I hoped he never found the part because I had done him a favor and drove 35 miles to get the part and paid a 25% restocking fee to take the product back and my suggestion for him was instead of calling me, to call his friends who told him the Parts House and I had ripped him off and have them to find and buy the part and then give him the part if they could or would.

I know this was long. But gentleman that is exactly why today when you go to buy something and it is not setting on the counter in front of you, you are being asked to pay up front for the product. There are too many people in the world today like my ex-neighbor.

I would have had the neighbor give me the money for the part before I left to the parts store.
And certainly wouldn't have brought the part back and paid the 25% restocking fee. I would have told the neighbor to pound sand.