CHAPTER 7 LIQUIDATION

[Coloradobus]

THE FINAL AX!!

http://www.registerguard.com/csp/cms...8-41/story.csp

[Mark3101]

THE FINAL AX!!

http://www.registerguard.com/csp/cms...8-41/story.csp

Sad to see another converter going down for good. But maybe in the long run it will benefit and strengthen the remaining ones....

[Coloradobus]

Yes Mark, it is very sad. We have had 2 Country Coaches: an Affinity and a bus. In the early years of 2000, we had a few nice visits at what we called Camp Country Coach, the repair facility campground on 6th street in Junction City. And at that time, we made some great life long friends.
Our Affinity was a spectacular coach, and we would still have it if we didn't have MPD.
Hopefully, the pieces can be re-assemlbed, but in this market, money will still be at issue.

[LarryB]

Jim and Chris, I also had an Affinity 1999 that was a real joy and I also wish I had never sold it. CC built a good machine up until the mid to late 2004 era then things seemed to go sideways with QC.

If CC could have been under the management of someone other that the Howards they may have been able to pull it off. My opinion, shared by many.

[Jon Wehrenberg]

I have purchased several companies that were in Chapter 11. I have purchased equipment from companies being liquidated. I have not yet seen a distressed company whose failure could be tied to anything other than management.

I have a real dislike of company owners and managers that treat the companies like their personal toy box, looting its assets so they can live the high life while allowing the company to slip towards failure. If in fact CC is liquidated those that mismanaged the company not only screwed investors, unsecured creditors, secured creditors, their vendors, the community, the employees, and public entities such as industrial development agencies, but they have screwed their customers.

It is virtually impossible for anyone to come out of a situation like this whole.

Customers will see depreciated values, a serious loss of ability to make repairs, and all the technical documentation necessary to recreate proprietary parts scattered or resting in a landfill. Now is the time for CC owners to form an alliance and get control of the engineering and purchasing data, whether it is in the form of a conversion company buying the intellectual materials to provide continued support, or a CC owners group. Ironically, that information is going to carry the lowest value in a liquidation sale, but to the hundreds of owners who wish to maintain their coaches it will be worth its weight in gold.

[JIM KELLER]

Miles, Any way to obtain the engineering and purchasing data Jon speaks about ?

[flyu2there]

I think that you may find that by the time a company reaches chapter 7, all items sold are handled by the court or its designee..........the trustee.

I noticed that Bob Lee aka Lee Joint Ventures, has terminated the lease on the land and buildings effective on Monday; my best guess is that this is a long running battle between Lee and the Howard boys. I wouldn't be surprised if Lee prevails at the end of the day picks up the pieces and starts afresh.

[JIM KELLER]

John, If your analysis is correct this would be in the best interest of all Country Coach owners.

[Coloradobus]

Jon, Your comments above seem to be spot on about MISmanagement.

However it was manuevered, the Howards were placed in charge of Country Coach. This has been a big headscratcher. With failures of Destinations RV dealerships, to Safari MotorCoach in the past, we had a feeling Country Coach's days were numbered.

March 2003, CC SnowBird Rally, Las Vegas at Circus Circus, we were rally participants with our 2002 XLII Marathon. At our final night's dinner, Jay Howard spoke and made some sorry and uncalled for comments on S.O.B. (some other brand) motorhomes. With those comments, a murmurring "boo" went acrossed the room. Stunned, those around us, us included, left the room.
We didn't return to a CC rally, until Terry Lee and Jerry and Sherry O'connor asked thru firends, if we were coming again. So, in Feb 2008, SnowBird Rally, Tucson Beaudry RV Resort, we went to that rally with the "H"3-45 Marathon. Had great time.
We just steered clear of maangement.

[garyde]

If your going to attempt to sale a $650,000 to $895,000 Plastic Coach in this market today, you had better be the best of the best.
I have not seen a new Country Coach in years but it seems to me they were making coaches which no one wanted to buy.
I had recieved fliers and e mails, and letters from CC in the last year. It seems they were trying to find a market for their product rather thanbuilding a product the market wanted.