Lawyer's posting of Coachworks

[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