Could this be the end of Roadtrek???

[Glamper]

LOL...although Canadian Greed just does not have the same ring to it as American greed!!

[RossWilliams]

@Mumkin

I am not sure Thor would be the only suitor if Roadtrek was available for purchase once the current issues are resolved. I am sure they would like to pay pennies on the dollar, but that assumes the Hymer family is willing to sell at that price.

I don't see any reason to think Roadtrek is going to go bankrupt in the near future. They don't seem to be in any immediate financial difficulty. They appear to have orders and are cranking out units and there is really no evidence they have suffered any financial losses.

[Glamper]

RT owned by Hymer, so if Hymer goes bankrupt, no doubt that would impact RT financial stability. I certainly hope they can protect the brand. Hammill was a RT exec, assume the same for Stratton and the CFO Weigel, all acquired by EH, so would think all three are out. Hopefully Thor/EHG can salvage this deal to include N America, but honestly I would not want to buy a unit being manufactured this week, employees are upset due to last week's layoffs and uncertainty for what future holds.

Employee quote Jan 17 "People have watched their CEO get walked out," says Singleton. "Our company's going through an audit, our accounts are frozen, people are getting laid off; yet there's no answers, no comments, no nothing." Source: https://www.kitchenertoday.com/local...r-jobs-1201034

[RossWilliams]

I thought Jim Hamill was the CEO and other reports say he was at home on sick leave when they suspended him. That would seem to mean he wasn't "walked out", it seems the CFO was walked out, but it means Singleton is simply repeating the rumors.

In any case, Hymer NA and Roadtrek are the same company. Companies go bankrupt when their liabilities exceed their assets and they can't stay current on their bills. None of those things seem to apply to Hymer or Roadtrek at this point. I haven't heard that they have ANY debt, muchless exceeding their assets.

Its not surprising the new Hymer execs from Europe that are in charge would be trying to control costs until they get a clear handle on both finances and actual business needs. Nor is it surprising that employees are upset. But neither of those things mean the company is in financial difficulty, much less likely to go bankrupt.

This is what I mean about rumors. They become self-fulfilling if they kill off the customer base. I would not buy a Roadtrek at this moment unless I got a really good deal. But a month from now things will be a lot clearer and they are still producing a top of the line class B coach.

The larger question is can they replace Jim Hammil's leadership. Roadtrek has a bit of a cult following that he helped foster. Its the reason he is so divisive with some people loving him and some people hating him. Charismatic leaders, who always seem to have some glaring flaws obvious to those not seduced by the charisma, are not easily replaced.

[Glamper]

Jan 23rd - https://www.promobil.de/thor-will-hy...achverhandeln/
"The guesses seem to be confirmed. As the American motorhome magazine RV Today reported, at least 1700 bills worth 90 million euros have been manipulated - with the consent of the top. Top executives of the subsidiary such as chief executive Jim Hammill or CFO Mark Weigl had to go already. The EHG did not want to comment on the incidents yet. However, the 90 employees dismissed at the Cambridge and Kitchener sites a short time ago had nothing to do with the fraud cases, a spokesman for the Hymer Group told Süddeutsche Zeitung."

[B Eventually]

How bad do you have to be at business to run a treasured and valuable brand like Roadtrek into the ground during a time of exploding Class B sales AND sky high prices?

Hammill: "Hold my beer."

[RossWilliams]

And this from the same article - translation by Google;

"First, there was talk of counterfeit sales and employee numbers. Several managers are said to have already been suspended, according to the EHG. External auditors are currently investigating the case. "

"... The guesses seem to be confirmed. As the American Motorhome Magazine RV Today reported, at least 1700 invoices worth 90 million euros have been manipulated ..."

The equivalent $102 million is a lot of counterfeit RV sales. That's 1000 fake sales even at $100,000 a piece.

[RossWilliams]

I don't know about class b sales, but RV sales in general have been in a severe slump all fall from where they were a year ago. I read that while trying to find info on Roadtrek sales.

[Boxster1971]

Just found an in depth business news article in the Waterloo Region Record that discusses the history of Roadtrek. ...

https://www.therecord.com/news-story...ocal-rv-maker/

[Boxster1971]

Originally Posted by Glamper

Jan 23rd - https://www.promobil.de/thor-will-hy...achverhandeln/
"The guesses seem to be confirmed. As the American motorhome magazine RV Today reported, at least 1700 bills worth 90 million euros have been manipulated - with the consent of the top. Top executives of the subsidiary such as chief executive Jim Hammill or CFO Mark Weigl had to go already. The EHG did not want to comment on the incidents yet. However, the 90 employees dismissed at the Cambridge and Kitchener sites a short time ago had nothing to do with the fraud cases, a spokesman for the Hymer Group told Süddeutsche Zeitung."

English version attached for your reading pleasure...

[rowiebowie]

Originally Posted by Boxster1971

Just found an in depth business news article in the Waterloo Region Record that discusses the history of Roadtrek. ...

https://www.therecord.com/news-story...ocal-rv-maker/

Interesting.

Originally Posted by Boxster1971

English version attached for your reading pleasure...

Thanks.

[Glamper]

I suppose if GM could emerge from the ashes there is certainly hope for RT/Hymer, Class B's are super popular, impossible to find a used one, especially < 20 feet length. The Pleasure Way Ascent (< 20 ft) was not on display at recent RV show in Pleasanton CA, one rep said there are none available on the entire west coast.

[RossWilliams]

Is this the end of Tesla?

Lets see. CEO removed in scandal. Layoffs. Saudi buyout fell through. Yup, its the end of Tesla, they must be going bankrupt any time now.

[Glamper]

I would not buy a Tesla, know too many people who work and they are not happy campers (intentional pun for this audience).

[Knit]

To all the Roadtrek haters, congrats - you just won the Super Bowl! For Roadtrek fans and those that want a healthy competitive market, maybe next year.

[InterBlog]

It's not clear to me why it would make a lick of sense for anyone to be a Roadtrek "hater".

Roadtrek is not my preferred brand, but I want them to succeed to the maximum extent possible. Why? Because without the market innovation that they bring to the table, the brand(s) that I DO prefer will suffer. Preferred brands will respond to a slothful competitor by simply not bothering to up their own game. That's how it works both in nature and in capitalism. You can set your taxonomic watch by it.

Logically, whether Roadtrek is the preferred brand or not, we should all be rooting for them.

[booster]

I think that way to many of the generalized comments are confusing what people say about Roadtrek management and their decisions with Roadtrek as a company.


I don't think there are many, if any, that "hate" Roadtrek the company or wish the company ill will or failure, especially in relation to the workers that have it all on the line. What has happened over the last decade is that Roadtrek has been guided by management that has made a lot of mistakes and has developed an attack attitude about anyone questioning what has transpired. It is never good to attack your own customers on in public.



We see from discussions on various sites, that management has chosen winners and losers among their own customers, probably based on their perceived use as promoters of the brand. These differences become painfully visible during times like this with very obviously "very for" or "very against" the way Roadtrek has bee run.


We can only hope that there is enough value in the brand, and money available, that Roadtrek the company can come back as a well run, responsible, and ethical business. That is certainly the best way to get "haters" and "fan boys and girls" on the same page in the future no matter what terminology you choose to call them.

[gregmchugh]

Agree completely with Booster, the “haters” are responding to management actions and attitudes regarding products and customers. Compare this to the overwhelming positive attitudes toward LTV, Pleasure Way, and Advanced RV. The difference is striking and telling since RT used to have the same overwhelming positive attitude from everyone.

[rowiebowie]

Originally Posted by InterBlog

It's not clear to me why it would make a lick of sense for anyone to be a Roadtrek "hater".

Roadtrek is not my preferred brand, but I want them to succeed to the maximum extent possible. Why? Because without the market innovation that they bring to the table, the brand(s) that I DO prefer will suffer. Preferred brands will respond to a slothful competitor by simply not bothering to up their own game. That's how it works both in nature and in capitalism. You can set your taxonomic watch by it.

Logically, whether Roadtrek is the preferred brand or not, we should all be rooting for them.

Agree. If I didn't want Roadtrek to succeed, their current problems would not bother me at all, to the point where I wouldn't care enough to even post here. It's specifically because I do are about the company, it's products, and it's workers that I want good management restored to the company. I'll bet other "haters" feel the same way.
.

[ClassB4Me]

Originally Posted by booster

I think that way to many of the generalized comments are confusing what people say about Roadtrek management and their decisions with Roadtrek as a company.

I don't think there are many, if any, that "hate" Roadtrek the company or wish the company ill will or failure, especially in relation to the workers that have it all on the line.

My thoughts are for the general workers who have invested their careers in the company and have to ride out this uncertain period. The NA team seems very close and tied to their local community.

April 7, 2018
HUMBOLDT, Saskatchewan — People flooded the sports and social complex in the small Canadian town of Humboldt on Saturday, seeking solace after learning the devastating news that much of the roster of its beloved junior hockey team had been killed, and many others wounded, in a terrible highway crash the day before.

Fifteen people died when a bus carrying the team, the Humboldt Broncos, to a Saskatchewan Junior Hockey League playoff game collided with a tractor-trailer near Tisdale, where two rural highways intersect, late Friday afternoon.



25 Oct 2018
EHGNA's Finance Department, aka "The Bean Counters" took part in@FoodBankWatReg Great Food Sort Challenge and helped pack 1,878 lbs of food! Together, all teams helped provide: 66,309 meals to those in need #GreatFoodSort2018 #FeedWR