Could this be the end of Roadtrek???

[warpig]

Originally Posted by wincrasher

Hmmm.....I sense a plot line coming together for a Lifetime movie of the week. Needs a woman done wrong though, becoming a big old misunderstanding, so it can be resolved and the boy win back the girl's heart.

This situation may make for an excellent episode of CNBC's "American Greed" series. Naturally, this episode would have to be re-titled "Canadian Greed".

[booster]

If history repeats itself, as it often does, the fact that they took out 3 people could make it very interesting.


As they say, "there is no honor among thieves" and there is also no loyalty. It is very possible that one or two of them have already agreed to cooperate to get a lighter penalty. The fact that Hammill wasn't there to get walked out with the others would certainly make that possible.


The scenario has played out over and over again in the past, think Whitey Bolger or Michael Cohen, and certainly would make for some drama in the case.

[Bud]

So booster, watt's happening do you think?

Bud

[Bud]

Originally Posted by booster

Really hard to tell at this point, I think. Almost certainly there has been some major fraud, and so far the focus has been on the top 3 of the company who are also long time friends and cohorts at work. I would say very likely tied to the the three in some way, but could be one or two or all three, and maybe some more. The others may have just looked the other way, but we really don't know enough at this point to find out for sure. If the families are really involved as has been mentioned, it could get very painful for many more people than we know about now.



I am sure it will all come out over time.



The big question will be if while all the shady activity is being addressed, somehow Roadtrek, the company, can be saved and put back on it's feet, which would would be good for the employees and the customers past and future.

I'm sorry booster, my doing. I meant the Watt fuel cell.

It seemed to me that something went south with Roadtrek after the intro of the Watt fuel cell as nothing happened, or I missed it. I asked on this forum several times with no responses. I asked because something 'felt' wrong....

Oh booster, when you grind that ax please use 4 smilies.

[GeorgeRa]

I am very surprised that years after Hymer’s acquisition of Roadtrek they didn’t know. If this malfeasance was happening before the acquisition than Hymers due diligence process wasn’t done correctly and if after the acquisition than Hymer was internally blind.

It can happen even in large companies like VW emission cheating which originated in Germany.

[booster]

Originally Posted by Bud

I'm sorry booster, my doing. I meant the Watt fuel cell.

It seemed to me that something went south with Roadtrek after the intro of the Watt fuel cell as nothing happened, or I missed it. I asked on this forum several times with no responses. I asked because something 'felt' wrong....

Oh booster, when you grind that ax please use 4 smilies.

Still time to delete, Bud, I deleted my misunderstood reply.

[GeorgeRa]

Time will tell if this little 2500 lbs. Eriba / Touring GT trailer will survive and in who’s hands. At $26K it could be a reasonable offer among other fiberglass trailers like Casita, Scamp or Escape and potentially good addition to Airstream. https://www.gohymer.com/touring-gt-overview/

[gregmchugh]

Originally Posted by GeorgeRa

Time will tell if this little 2500 lbs. Eriba / Touring GT trailer will survive and in who’s hands. At $26K it could be a reasonable offer among other fiberglass trailers like Casita, Scamp or Escape and potentially good addition to Airstream. https://www.gohymer.com/touring-gt-overview/

Airstream already bought the Nest trailer company and added it to their lineup which overlaps somewhat with these models...

[GeorgeRa]

Originally Posted by gregmchugh

Airstream already bought the Nest trailer company and added it to their lineup which overlaps somewhat with these models...

I forgot about this one, it is almost double in price at $47K and much heavier, but it is good looking.

[gregmchugh]

Originally Posted by GeorgeRa

I forgot about this one, it is almost double in price at $47K and much heavier, but it is good looking.

You are right that they could fill in the lineup with the Hymer designs. Too bad that they just tooled the new factory in Canada to build them but Thor could buy it or the tooling.

[Glamper]

As a potential new customer for Class B Hymer or RT, neither are on our list right now. Very concerned about warranty and damage to the brand (resale value). Very sorry for the folks who were laid off through no fault of their own but because of their management's corporate greed and stupidity,

[gregmchugh]

Originally Posted by GeorgeRa

Time will tell if this little 2500 lbs. Eriba / Touring GT trailer will survive and in who’s hands. At $26K it could be a reasonable offer among other fiberglass trailers like Casita, Scamp or Escape and potentially good addition to Airstream. https://www.gohymer.com/touring-gt-overview/

They have definitely started Trailer production, see photo in this article...

https://www.therecord.com/news-story/9135942-financial-scandal-swirling-at-local-rv-maker/

[markopolo]

Is it a possibility that EHGNA ends up somehow transferring to EHG and thus end up becoming part of Thor?

How would you otherwise extract those EHG brand names like Eriba, Carado and even Hymer etc.?

[gregmchugh]

Originally Posted by markopolo

Is it a possibility that EHGNA ends up somehow transferring to EHG and thus end up becoming part of Thor?

How would you otherwise extract those EHG brand names like Eriba, Carado and even Hymer etc.?

Thor would get all the brands as part of the purchase of the rest of Erwin Hymer Group. Would the remaining North American piece keep access to those brands or if it survives would it revert to just have Roadtrek? Would the travel trailer operation continue? Seems like Thor could want to produce those trailers one way or another for North America and not want competition from the leftover Erwin Hymer NA in whatever form it might take.

Lots of interesting scenarios to contemplate...

[Boxster1971]

Just saw more news on the RV Daily Report about Hymer alerting business partners...

https://rvdailyreport.com/industry/e...rregularities/

[GeorgeRa]

I am struggling to understand why it took so long for Hymer to realize this major problem, evidently someone was sleeping at the wheel in Germany. I still hope that Roadtrek/Hymer NA will survive, folks will be called back at least most of them, and warranties will be honored.

[ClassB4Me]

Originally Posted by markopolo

Is it a possibility that EHGNA ends up somehow transferring to EHG and thus end up becoming part of Thor?

When I worked for a Fortune 500 company with a global presence, the product names were licensed and owned by the parent company. In this case only Roadtrek originated in the NA market.

Carado was already an established EHG brand before the acquisition of Roadtrek, Eriba is a product line of EHG for quite a long time.

My guess is the assets of EHG NA reside primarily in the Ontario property along with some of the Roadtrek originated technologies - that's it.

I could easily see 'EHG NA' liquidating and the assets bought by Thor after the German owners TAKE what the auditors determine was stolen out of the value of the EHG NA assets. This would leave any liabilities and lawsuits remaining with EHG NA and not transferring to Thor.

Thor will get the Roadtrek naming rights at a very good price and none of the liabilities.

Unfortunately, is there anything the Canadian facility and staff can offer that cannot be replicated in an Indiana Right-to-Work manufacturing facility?

[RossWilliams]

The wording of the statement to employees and "business partners" is virtually identical. Including the odd references to a "zero-toleration" policy, the executives having been "suspended" and "reporting irregularities". When someone is fired for embezzlement, as some have suggested happened here, those are not usually the euphemisms you see. There aren't many companies that have anything other than "zero tolerance" for embezzlement.

Its possible the reporting irregularities were inflated sales. Since it seems from posts that custom Roadtrek orders take forever with claims of backorders, any inflation in unit sales is likely to have been in the Carado, Hymer, Sunlight et al, lines rather than of Roadtrek sales.

Both Thor and Hymer have alluded to changes to the negotiated deal that are still in discussion. So the final outcome of this is not only not known here, it isn't known by anyone. Given the layoffs of just new hires and the continued production of units at the factory it seems unlikely that Hymer is moving toward liquidation of the company. Which doesn't mean the audit won't put them there.

As for the Hymer brands, its seems unlikely they would remain with Hymer NA. But that may depend on what the legal separation is between the two companies and what formal licensing for the use of the names was created. That may be part of the complications of separating Hymer NA from the deal.

But lets be clear. Thor didn't buy Hymer to get access to its North America operations. They have plenty brands of their own. They are buying Hymer to get access to Europe and China. Its not clear the Roadtrek brand was ever going to fare well under Thor. Whether it can survive on its own is a different story. But if there is a silver lining, Roadtrek as a separate company focused on building, selling and servicing Roadtreks would be it.

[rowiebowie]

Originally Posted by RossWilliams

Its not clear the Roadtrek brand was ever going to fair well under Thor. Whether it can survive on its own is a different story. But if there is a silver lining, Roadtrek as a separate company focused on building, selling and servicing Roadtreks would be it.

Agree. I would like to see Roadtrek back on it's own, and under competent management.
.

[mumkin]

My theory is that I still think that EHG will do what is necessary to clear the legal issues at EHGNA. (they will have to) They already have deep pockets and will have the proceeds from the Thor sale. At that point I see Thor coming back and negotiating a purchase at fire sale prices... pennies on the dollar. (this is pretty common for them)

The Roadtrek name is worth owning. It is the main competition for Winnebago in North America in the Class B market. I would see an appeal there for Thor. They would already own the Hymer name and give it an existing foothold in the US market... with two trained crews and factories... and a third building mentioned in one of the communications from EHGNA.

My wish/hope is that it is all done prior to a bankruptcy which would allow Thor to kill our warranties. This is ignoring that Thor has an abysmal reputation in upholding and assisting owners with warranty work.