Lawyer's posting of Coachworks

[Dan and Cindy Sunderland]

Regarding info on coachworks closing.



http://www.pbase.com/iamflagman/image/110103732.jpg

http://www.pbase.com/iamflagman/image/110103736.jpg

Dan Sunderland
2005 450 LXi
San Marcos, CA

[Scott Forman]

For the record....

I am a banker and have liquidated companies in scenarios like this before.
Based on what that letter says, if one were so inclined, one could purchase
every asset required to operate coachworks. I can assure you that the lender
would be quite eager to dispose of these assets in one transaction rather than
auctioning individual items...in fact, I bet they would even finance the
purchase for a credit-worthy buyer with a plan to turn the thing around.

So...any well-heeled folks here that would like to get into the Wanderldge
business???

Scott Forman
86 PT38
Memphis

--- In WanderlodgeForum@yahoogroups.com, "Dan and Cindy Sunderland"
<86bluebird@...> wrote:
>
> Regarding info on coachworks closing.
>
>
>
> http://www.pbase.com/iamflagman/image/110103732.jpg
>
> http://www.pbase.com/iamflagman/image/110103736.jpg
>
> Dan Sunderland
> 2005 450 LXi
> San Marcos, CA
>

[Dan Williams]

It would be nice to see the Luce family
buy it back…a complete circle.

Dan Williams 88WB38 Jackson, MS

---

From: WanderlodgeForum@yahoogroups.com [mailto:WanderlodgeForum@yahoogroups.com] On Behalf Of Scott Forman

Sent: Saturday, March 14, 2009
8:09 PM

To: WanderlodgeForum@yahoogroups.com

Subject: [WanderlodgeForum] Re:
Lawyer's posting of Coachworks

For the record....



I am a banker and have liquidated companies in scenarios like this before.
Based on what that letter says, if one were so inclined, one could purchase
every asset required to operate coachworks. I can assure you that the lender
would be quite eager to dispose of these assets in one transaction rather than
auctioning individual items...in fact, I bet they would even finance the
purchase for a credit-worthy buyer with a plan to turn the thing around.



So...any well-heeled folks here that would like to get into the Wanderldge
business???



Scott Forman

86 PT38

Memphis



--- In "WanderlodgeForum%40yahoogroups.com",
"Dan and Cindy Sunderland" <86bluebird@...> wrote:

>

> Regarding info on coachworks closing.

>

>

>

> http://www.pbase.com/iamflagman/image/110103732.jpg

>

> http://www.pbase.com/iamflagman/image/110103736.jpg

>

> Dan Sunderland

> 2005 450 LXi

> San Marcos, CA

>

[birdshill123]

It is my understanding that there is not much to buy. Apparently the parts have
dwindled to almost nothing. So other than the name what is there of any value? I
doubt anyone is interested at this time in building 1.5 million dollar+ units.
The land and buildings have dubious value. It is a shame that part of the
facility could not be used as a service center.


Bruce
1988FC35

[Ernie Ekberg]

It seems, with ths information, that individuals such as Stephen Birtles, Ralph Fullenwider and myself might be of greater use in the future repairing our coaches. Ernie Ekberg 83PT40 Wanderlodge Weatherford, Tx http://autos.groups.yahoo.com/group/erni...gandrepair --- On Sun, 3/15/09, birdshill123 wrote: From: birdshill123 Subject: [WanderlodgeForum] Re: Lawyer's posting of Coachworks To: WanderlodgeForum@yahoogroups.com Date: Sunday, March 15, 2009, 5:46 PM It is my understanding that there is not much to buy. Apparently the parts have dwindled to almost nothing. So other than the name what is there of any value? I doubt anyone is interested at this time in building 1.5 million dollar+ units. The land and buildings have dubious value. It is a shame that part of the facility could not be used as a service center. Bruce 1988FC35

[Pete Masterson]

I dunno... the Bird's Nest might have possibilities for an RV park (I haven't seen it in person, so I don't know what it's like or what it's near). The "express bus" (using the same chassis as the WL) might have a market, especially if we're supposed to all use transit in the future (as I read the Obama budget). And, the poor economy won't last forever...

I suspect that the 'cut off' of credit to CCW for the BB WL Coachworks may have had more to do with the bank's financial situation rather than the actual business prospects of the company.

Banks are supposed to have a certain amount of assets to offset the risk of loans (per the regulations) -- with the so-called toxic mortgage and investment derivatives that banks hold, the "mark to market" rule requires that they be valued at current market prices, even if there is no evidence that particular investments, loans, or securities are non performing. This has devastated many bank's balance sheets since during this period, the securities have dropped to near zero value, requiring mark down of assets -- and that requires the banks to withdraw lines of credit even from very credit worthy businesses, so that their balance sheets will show the required level of assets to liabilities.

The "mark to market" rule was suspended under FDR back in the early 30s and was only reinstated 5 or 6 years ago "as good accounting practice" -- but it may be again suspended (as it should be) during the current crisis, since it only serves to make matters worse.

Pete Masterson

'95 Blue Bird Wanderlodge WBDA 42 (For Sale)

<http://www.aeonix.biz/BBforsale.html>

El Sobrante CA

"aeonix1@mac.com"

On Mar 15, 2009, at 3:46 PM, birdshill123 wrote:

It is my understanding that there is not much to buy. Apparently the parts have dwindled to almost nothing. So other than the name what is there of any value? I doubt anyone is interested at this time in building 1.5 million dollar+ units. The land and buildings have dubious value. It is a shame that part of the facility could not be used as a service center.


Bruce
1988FC35