FarmTrac Troubles

[Tim C.]

No sale of Farmtrac. Yet.

Tim

[blueliner]

Dear troops...

No cute or funny takes today... just good, old-fashioned info-trolling.
Textron uncloakers Segal, Jerzyk and Hamilton are on my shortlist... but just a few of the stops I'm making.

--blueliner

[tractorman99]

ESCORTS GROUP > The Escorts Group, is among India's leading engineering conglomerates operating in the high growth sectors of agri-machinery, construction & material handling equipment, railway equipment and auto components.

[redneckford]

Originally Posted by Tim C.

No sale of FarmTrac. Yet.

Tim

Oh Really!!!! Then I quess all these dealers in Southwest Louisiana and East Texas are just lying to their customers---cause that seems to be the word from the local dealers??????----Like everything else show me the proof----and while you are getting the proof how about those files showing inventory loading,invoice inflation,voodoo interest charges and I think they called it Favorer-ed Dealer Status!!!!!----I'm sorry I already got all that and it is notarized and in the mail to an Ole blue d-------!!!!!!!!! AND just maybe they told everyone but YOU!!!!!

[country69]

Tim C is right. Look for something next week.

[redneckford]

Originally Posted by country69

Tim C is right. Look for something next week.

About what "time is on the dealers side" or------???????? Here comes the JUDGE?????!!!!!!!!

[redneckford]

Originally Posted by country69

Tim C is right. Look for something next week.

ole blue----you got to get us an invite to this 2% club!!!!!! Taxpayer since your not a @% member yet???----- you want a invite too?????? they sure teach you how to "TALK" nice!!!!

[Eric_Phillips]

I was wondering if some one could post all the affiliates of Textron so that we can avoid them. I can assure you I am not in the market for a Bell helicopter but from an earlier post it looks like they also own Greenlee. I did buy a Greenlee multimeter earlier this year. I would have made a different decision had I known.

Just out of curiosity I have been trying to figure out how this whole buisiness was structured. So LS and Escort made the tractors. Now do they have a similar parent company or are they separate? Then there is Farmtrac, Montana, etc. Were/are these independant companies that then buy the tractor parts from LS and Escort then assemble and sell them in the US? Then what was Textron supposed to do? Not being in the buisiness I am not sure what a floor plan company does.

[bluechip]

Short answer: LS and ESCORTS supplied tractors to Farmtrac NA. Escorts held a controlling interest in Farmtrac NA. LS had no ownership. LS and Escorts are not related otherwise. LS is Korean and Escorts is Indian. Textron Financed inventory for Farmtrac NA, and also served as the "private branded" floor plan company. That is they financed the dealer's inventory as well. Manufacturers use dealer floorplanning to encourage dealers to stock more inventory. It doesnt take much thought to see that a dealer financing an expensive inventory, like tractors, and selling at the low margins that tractors bring would make little economic sense. Manufacturers and distributors bridge the gap by paying the interst costs for some period of time. The game is that the dealer must sell before that time is over or he could end up losing all of his profit on the unit in interest. Famrtrac offered indefinate free flooring to thier dealers, but the transactions were not documented that way with Textron. Most dealers are holding inventory that they accepted with the understanding it would not bear interest or "come due" which is when a floorplanned tractor has to be paid for regardless of being sold or not. LS filed a suit against Farmtrac NA in NOvember which apparently caused Escorts to withdraw and the company went into receivership on behalf of the creditors. So now we have a big mess.

[redneckford]

Great answer Blue Chip---but I bet you loose your membership in the 2% Club----Tim C how about a followup on Blucher's recollection of the facts----Someone seems to leave the territory men out of this discussion!!!!