Any updates on Hymer/Roadtrek/Carado future?

[Glamper]

And today the online chat reps are unavailable - Feb 13, 2:30pm Canada time "No operators are currently available. Please send us an email and we will get back to you as soon as possible."

[cruisefx]

Originally Posted by Glamper

And today the online chat reps are unavailable - Feb 13, 2:30pm Canada time "No operators are currently available. Please send us an email and we will get back to you as soon as possible."

There is a massive snowstorm in southern Ontario. People may have been sent home.

[Glamper]

Thanks good to know!!! Hope they did send everyone home, sounds very dangerous https://www.theweathernetwork.com/ne...cement/124006/

[mumkin]

This makes at least the 2nd time that weather has closed down everything in the office... and likely the audit/inventory. Having done a few of these in my accounting years, counting is just step one. They are now a week plus over the projected finish time.

A Hymer district rep posted on FB today, but nothing to do with any updates. I suspect he was snowed in at home. Most people probably don't even know him.

[Glamper]

Originally Posted by cruisefx

There is a massive snowstorm in southern Ontario. People may have been sent home.

Originally Posted by mumkin

This makes at least the 2nd time that weather has closed down everything in the office... and likely the audit/inventory. Having done a few of these in my accounting years, counting is just step one. They are now a week plus over the projected finish time.

A Hymer district rep posted on FB today, but nothing to do with any updates. I suspect he was snowed in at home. Most people probably don't even know him.

Agree that it will take time. No word from the two guys sent to Canada from EHG. Robert Quine and Thomas Martin who were appointed by EHG (prior to Feb 1) to oversee daily operations at Erwin Hymer Group North America pending an investigation related to a “zero tolerance policy.” Quine and Martin’s specific roles and titles were not identified. So are Quine and Martin in charge of NA now? That letter was signed by Martin Brandt, EHG CEO, and Stefan Junker, the chief financial officer of Erwin Hymer Group, and based on previous press releases both report to Thor Industries as of Feb 1 when deal closed, yes?

[RossWilliams]

" They are now a week plus over the projected finish time."

Where was that projected finish time from? I don't think I ever saw a claim they would be finished before last Friday and even that was based on a vaguely defined timeline. I think we are back to "reporting" rumors and speculation.

[mumkin]

Originally Posted by RossWilliams

" They are now a week plus over the projected finish time."

Where was that projected finish time from? I don't think I ever saw a claim they would be finished before last Friday and even that was based on a vaguely defined timeline. I think we are back to "reporting" rumors and speculation.

Yes, of course... everything that is not reported personally to you by the Hymer family is "rumor." If it isn't written in stone somewhere...

The projected finish was reported by at least 3 Hymer/RT current factory employees... who then reported that it was pushed into the next week (which was last week)... and sigh (theirs and ours) into this week. Since the Hymer family refuses to join this forum or Facebook and personally report their every plan on firm sworn testimony, we can only go by best sources. That would be the people on the ground in the factory... who might have at least met an actual German.

[RossWilliams]

The difference between fact and rumor is this:

Fact is:
"Some Hymer employees said (on Facebook?) that the company planned to be finished on Friday the 1st of February."

Rumor is saying based on that statement:
"They are now a week and half behind their timeline."

This is exactly how rumor becomes fact. And who knows what the basis of the employees statement was. It may be based on fourth or fifth hand information that has gone through that same process.

[Bud]

Originally Posted by RossWilliams

The difference between fact and rumor is this:

Fact is:
"Some Hymer employees said (on Facebook?) that the company planned to be finished on Friday the 1st of February."

Rumor is saying based on that statement:
"They are now a week and half behind their timeline."

This is exactly how rumor becomes fact. And who knows what the basis of the employees statement was. It may be based on fourth or fifth hand information that has gone through that same process.

Was it rumor or fact when you stated that some roadtrek dealers said that warranties were on hold. I mean, you seem to say it was fact.

Bud

[Durp]

It is difficult to understand why owners do not speak in order to end rumors and reassure retailers and customers. On the site of Roadtrek.com, if you choose ' ' roadtreking blog ' ' You go on RV LIFE STYLE announcing the Leisure Travel.... Wow!

[RossWilliams]

"Was it rumor or fact when you stated that some roadtrek dealers said that warranties were on hold"

It was a fact reported in multiple locations, including here. It was confirmed by my dealer's service department.

But you are right, more accurately it would be several people including dealers have reported that Hymer has put warranty approval and parts orders on hold. There was also a report that this was in a direct company communication to the dealers.

And here is what I reported here last week:

"On one of the Facebook pages someone who is waiting on warranty work said they were told by someone at Hymer that they hoped to have the inventory done by the end of the week, but "no guarantees"."

[RossWilliams]

I haven't seen any links to rvtravel on roadtrek.com for several days now.

[Bud]

Originally Posted by RossWilliams

"Was it rumor or fact when you stated that some roadtrek dealers said that warranties were on hold"

It was a fact reported in multiple locations, including here. It was confirmed by my dealer's service department.

But you are right, more accurately it would be several people including dealers have reported that Hymer has put warranty approval and parts orders on hold. There was also a report that this was in a direct company communication to the dealers.

And here is what I reported here last week:

"On one of the Facebook pages someone who is waiting on warranty work said they were told by someone at Hymer that they hoped to have the inventory done by the end of the week, but "no guarantees"."

Then why prior did you say that dealers were lying about it. Was that fact or rumor?

[ClassB4Me]

Originally Posted by Durp

It is difficult to understand why owners do not speak in order to end rumors and reassure retailers and customers. On the site of Roadtrek.com, if you choose ' ' roadtreking blog ' ' You go on RV LIFE STYLE announcing the Leisure Travel.... Wow!

Some Context...
Before this big potential embezzlement kerfuffle, the Hymer family was on record wanting to sell the business after the father/husband passed away. They wanted to move on from the industry.

They have rid themselves of EHG and what's done is done. I seriously doubt they want to be involved in an RV company in Canada.

Mark my words....
-- The investigation continues
-- The inventory is done
-- The Thor transaction has finalized

You can't sell an asset like EHG NA (in total / part) unless an inventory of assets has been completed and a prospectus has been produced for consideration by investors. This will not be very public - for the obvious reasons.

The next time we hear from the family will be when they have found a holding company to buy what remains of EHG NA or they have chosen to put the company in receivership.

Making statements that they will have to rescind does not make sense and they do not want to instill false hope (i.e. 'there will be no layoffs in the short-term')

I suspect the delay in communication has more to do with the family trying to figure out who (other than them) can continue operating Roadtrek.

[RossWilliams]

I long ago admitted I jumped the gun on that. It was a response about one person reporting that one dealer had told them that. There were multiple reports at the same time of people who were still getting service. Which is what I said at the time.

It appears that was the exact interval where they notified dealers. Cary on Vagabond reported the next day that they had just picked up their unit from warranty service and the dealer informed them they were lucky since the dealer had just received notice of no parts/no warranty approval. As soon as I saw that, I posted that I had jumped the gun.

But its a great example. What would you say if someone here started claiming dealers were lying based on my statement? People get stuff wrong or draw conclusions based on limited information. Knowing the context helps people evaluate it. Speculation becomes fact pretty quick. Were employees really sent home because of the snow storm?

[RossWilliams]

Originally Posted by ClassB4Me

Some Context...
Before this big potential embezzlement kerfuffle, the Hymer family was on record wanting to sell the business after the father/husband passed away. They wanted to move on from the industry.

They have rid themselves of EHG and what's done is done. I seriously doubt they want to be involved in an RV company in Canada.

Mark my words....
-- The investigation continues
-- The inventory is done
-- The Thor transaction has finalized

You can't sell an asset like EHG NA (in total / part) unless an inventory of assets has been completed and a prospectus has been produced for consideration by investors. This will not be very public - for the obvious reasons.

The next time we hear from the family will be when they have found a holding company to buy what remains of EHG NA or they have chosen to put the company in receivership.

Making statements that they will have to rescind does not make sense and they do not want to instill false hope (i.e. 'there will be no layoffs in the short-term')

I suspect the delay in communication has more to do with the family trying to figure out who (other than them) can continue operating Roadtrek.

I don't necessarily disagree with the speculation that the lack of information is because they are still figuring out what is next.

We know the Thor deal is done, but the rest is almost pure speculation.The German media I read from before the Thor deal said Hymer was seeking to expand either by going public or through acquisition. I think its important to remember according to the announced terms of the deal, the Hymer family mostly traded stock in EHG for stock in Thor. They aren't really out of the RV business. To the contrary, they have expanded their involvement.

[Bud]

"I long ago admitted I jumped the gun on that. It was a response about one person reporting that one dealer had told them that. There were multiple reports at the same time of people who were still getting service. Which is what I said at the time."

Sorry, I missed you saying that the dealers you said were lying were not.

"We know the Thor deal is done, but the rest is almost pure speculation.The German media I read from before the Thor deal said Hymer was seeking to expand either by going public or through acquisition. I think its important to remember according to the announced terms of the deal, the Hymer family mostly traded stock in EHG for stock in Thor. They aren't really out of the RV business. To the contrary, they have expanded their involvement."

Is that speculation? You write it as though EHG has in fact expanded their involvement. But maybe I simply don't understand what the involvement is. I'm not involved in auto manufacturing even though I own Honda stock. Please explain what they are involved in.

[Gryphon]

Thor appears to have roughly 55 million shares of stock outstanding ($3.651B market cap at a price of $66.77). The Hymer family got 2.3 million shares, so that's approximately 4% of Thor. Is that large enough to make the board pay attention to them? I don't know. And while the Hymer CEO is staying on at the company, I haven't seen anything about the Hymers getting a seat on the board, so any involvement they do have will be indirect at best.

[RossWilliams]

"the dealers you said were lying"

That is singular, dealer.

" I'm not involved in auto manufacturing even though I own Honda stock"

That's nice, but this was a discussion of the Hymer families' continued involvement in the RV business. There is really no way for us to know how involved they were in Hymer or how involved they are in Thor. What we do know is that they owned stock in Hymer and now own stock in the larger Thor.

[Bud]

Originally Posted by RossWilliams

"the dealers you said were lying"

That is singular, dealer.

" I'm not involved in auto manufacturing even though I own Honda stock"

That's nice, but this was a discussion of the Hymer families' continued involvement in the RV business. There is really no way for us to know how involved they were in Hymer or how involved they are in Thor. What we do know is that they owned stock in Hymer and now own stock in the larger Thor.

That is not what you wrote. "more involved", like they were.

Concerning 'dealer' vs 'dealers', my quote is out of context but yes dealer. But in context your post was dealers since you knew more than one dealer was not doing warranty and they were lying.

You have a habit of taking stuff out of context like my Honda quote while I commented on what you wrote with a question. You ignored the question and instead, took one sentence out of context.

Bud