FarmTrac Troubles

[redneckford]

But you can bet we can eat that field of rice if we have some go--od ole lou--us--anna gumbo!!!!Sometime we use "shark tails" to give the shrimps and crabs some rigid flavor. 'now where i can get some fresh shark tails. is your nets full yet!!!!

 

[redneckford]

Taxpayer----what's that saying if the shoe fits????? Darn looks like it fits like a glove!!!!!!

Loan shark
From Wiki---said, the free encyclone "som'um like a hurricane"
A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals or small unsuspecting businesses, often backed by blackmail or threats of violence or poverty. They provide credit to those who are not willing or are "unable" (cause company whats you to sign a document that lets them off the hook) to obtain it from more respectable sources, usually because interest rates commensurate with the perceived risk are illegal or misrepresented.(they Lie)
In much of history, usury laws made loan sharks commonplace. Many moneylenders skirted between legal and extra-legal activity. In the western world in recent years, loan sharks have been a feature of the criminal underworld, but otherwise rare. Loan sharks are common in the Italian Cosa Nostra, Triads in China, the hills of NC and around the Coke headquarters in Georgia!!!
There are many registered and legal lenders that lend to people who cannot get loans from the most mainstream lenders, such as large banks. They often operate in cash, whereas mainstream lenders increasingly operate only electronically or with little blue yard ornaments, which means that they will not deal with people who do not have a bank account. Terms such as subprime lending and "non-standard consumer credit" are used for this type of lender. Payday loans and floorplan companies are two examples of this type of financing. The availability of these products has made "true loan sharks rarer"?????, though some authorized lenders???? have been accused of behaving in an exploitative manner!!!!!!
Payday loan operations (can change the words to floor plan companies)have also come under fire for charging inflated "service charges" for the service of cashing a "payday advance" effectively a short-term (no more than one or two weeks) loan?????(again change the words to short term loans to mfg and dealers) for which charges may run 3-5% (30-50% am I close)of the principal amount. By claiming to be charging for the 'service' of cashing(flooring a tractor) a paycheck, instead of merely charging interest for a short-term loan, laws which strictly regulate moneylending costs can be effectively bypassed.

Gumbo anyone!!!!
Sure hope T------ has cleaned out that pond that has all those fish in it. They are too great of a finance institution to allow those fish to swim under their banner. Got net and pot!!!!!
Money "loaned" on a $8000.00 dollar tractor does not come out to $12000.00 at 3-5%. Check out what an Escorts tractor is worth in India!!!! Maybe just Maybe???? some one in NC has all the gold with the help of a few fish from the floor planning company!!!!! Corn on the "Cobb" goes good in gumbo with shark tails!!!!

 

[taxpayer]

Taxpayer----what's that saying if the shoe fits????? Darn looks like it fits like a glove!!!!!!

Loan shark
From Wiki---said, the free encyclone "som'um like a hurricane"
A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals or small unsuspecting businesses, often backed by blackmail or threats of violence or poverty. They provide credit to those who are not willing or are "unable" (cause company whats you to sign a document that lets them off the hook) to obtain it from more respectable sources, usually because interest rates commensurate with the perceived risk are illegal or misrepresented.(they Lie)
In much of history, usury laws made loan sharks commonplace. Many moneylenders skirted between legal and extra-legal activity. In the western world in recent years, loan sharks have been a feature of the criminal underworld, but otherwise rare. Loan sharks are common in the Italian Cosa Nostra, Triads in China, the hills of NC and around the Coke headquarters in Georgia!!!
There are many registered and legal lenders that lend to people who cannot get loans from the most mainstream lenders, such as large banks. They often operate in cash, whereas mainstream lenders increasingly operate only electronically or with little blue yard ornaments, which means that they will not deal with people who do not have a bank account. Terms such as subprime lending and "non-standard consumer credit" are used for this type of lender. Payday loans and floorplan companies are two examples of this type of financing. The availability of these products has made "true loan sharks rarer"?????, though some authorized lenders???? have been accused of behaving in an exploitative manner!!!!!!
Payday loan operations (can change the words to floor plan companies)have also come under fire for charging inflated "service charges" for the service of cashing a "payday advance" effectively a short-term (no more than one or two weeks) loan?????(again change the words to short term loans to mfg and dealers) for which charges may run 3-5% (30-50% am I close)of the principal amount. By claiming to be charging for the 'service' of cashing(flooring a tractor) a paycheck, instead of merely charging interest for a short-term loan, laws which strictly regulate moneylending costs can be effectively bypassed.

Gumbo anyone!!!!
Sure hope T------ has cleaned out that pond that has all those fish in it. They are too great of a finance institution to allow those fish to swim under their banner. Got net and pot!!!!!
Money "loaned" on a $8000.00 dollar tractor does not come out to $12000.00 at 3-5%. Check out what an Escorts tractor is worth in India!!!! Maybe just Maybe???? some one in NC has all the gold with the help of a few fish from the floor planning company!!!!! Corn on the "Cobb" goes good in gumbo with shark tails!!!!

By thunder!! Redneckford,I do believe you put the right tag on the big daddy of all sharks,But now about that sharks tail and cobb in our good louisiana gumbo,I don't think thats gonna work. but then again we gotta have something to feed the HOGS don't we?----Taxpayer

 

[SESS]

There is documented proof that Escort lost $45million; LS Cable lost $12 million BUT BUT BUT BUT-Textron profited $13.5 million over a 3 year period. How does that happen when everyone else is loosing??

I still do not understand how 2 of the 3 companies involved lost MILLIONS and then Textron profited MILLIONS? Isn't that lopsided? When a company is failing and there are financial backers-isn't it common sense that ALL contributors would loose???? I guess common sense doesn't play a part in this whole mess!

 

[tommybr]

Seems like the dairy cow got milked dry then she was ground up for hamburger meat.

 

[blueliner]

Hello, all! Some RSVPs, news and etc...

REDNECKFORD -- Wow! The Loo-zee-ana smack motherlode! I've been slow-moving as of late, but am slowly churning to make some of that sharktail and corn-on-the-Cobb gumbo - sans the roadkill and rice.

Right now... gathering the right materials to heat up the pot! I heard gumbo is best made by cooking its contents live (like Skilling and Lay), so gotta make that pot extra hot.

SESS -- Don't believe TFC profitted on this deal. IMHO. The Gumbo Posse agrees that, in simple terms, the TFC Private Brands Acct. Exec. in charge of the FNA acct goofed up royally. Its initial poor choice and an escalated commitment to cover it with a double-or-nothing effort left said financial officer empty-pocketed. That's when the conspiracy took place, dumping the blue units as a desperate try to make bad debt into good -- even at the price of wrenching a critical cog in the machine - the dealers.

NOT JUST A POOR COUNTRY BOY -- In the minds of many, Doug Gurkins' potential conflict of interest as a Receiver's Assistant and the head of Country Boy's Auction & Realty service has loomed for awhile. When asked, Gurkins claimed that he was no tied to the company; his family was now running the operation.

The answer seemed too fast, contrived, insincere ... and smelly.

Logical minds would wonder this: who just rolls over and gives up a decades-long family business, unless it is to... a) tend to failing heal of one's self or close family member, or 2) position one's self for a boatload of incoming cay$h.

Please see the attached February document from the North Carolina Secretary of State. It proves this writer's gut-level instinct (along with relentless rib-poking from some commrades -- nice job, peeps!) to be right. Gurkins is not only affiliated with the firm, he's the president!

Country Boy's Auction & Realty of Washington, NC operated a house-cleaning sale of miscellaneous goods for Farmtrac in late April.

In contrast, earnings from service as the Receiver's assistant are comparatively modest. Court documents state that Receiver James C. Marrow was paid $30,000 for two months of work. The portion of the payment Gurkins received was not specified.

All or some of that payment would pale, compared to potential earnings from liquidation. If the 960 tractors on Farmtrac's Tarboro headquarters lot were auctioned, Gurkins and Country Boy's could take in anywhere from approximately $250,000 to $1 million in seller service fees.

Where is the motivation to *not* liquidate?

Gurkins' fire and brimstone reassurances during an April gathering of dealers at Tarboro's Comfort Inn may qualify him as a Academy Award candidate for 2008's "best leading role for an actor as Farmtrac dealer advocate."

Gurkins, 66, of Greenville, N.C., also serves on the Pitt County board of County Commissioners.

--b

 

[case1570]

I want to know what the judge is doing?
Case

 

[redneckford]

Drawing a check but he has alot of responsibility put on him. The power of the gavel can be deafen!!!
been thinking again
If you sell a nice 555 for $18000.00 and give someone $15,000.00 trade-in for their collector 8N and you sell the 8n at auction---country boys at that---will Textron split the loss with you.
ok what if you trade someone and make a big profit on the trade-in will they split the loss with you on the new tractor.
Sell a 555 for $6000 and trade in a Kubota for $1000.00 $6000.00 loss on new tractor. Sell the Kubota for $5000.00 More than one way to catch a shark!!!!!!! Got to use the "right" bait. Something 'bout fish or cut bait!!!!!

 

[NC419N]

Ok I see all of the problems that Farmtrac and the dealers are having and have been for the last say 2 years. I have a 555 2wd with loader and it's a wonderful piece of equipment. In the last month I have tried to trade it for either a 545 or 555 4wd. You would think that I have the plague or something. It's only got 302 hours on it and even the Farmtrac Dealers in my area won't talk about a trade.
What will you guys sell me a 545 or 555 4wd for cash sale for? Or do any of ya'll have a used 4wd that you would trade with me on. I love my Farmtrac!!
Thanks I am in western North Carolina.

 

[Dargo]

Ok I see all of the problems that Farmtrac and the dealers are having and have been for the last say 2 years. I have a 555 2wd with loader and it's a wonderful piece of equipment. In the last month I have tried to trade it for either a 545 or 555 4wd. You would think that I have the plague or something. It's only got 302 hours on it and even the Farmtrac Dealers in my area won't talk about a trade.
What will you guys sell me a 545 or 555 4wd for cash sale for? Or do any of ya'll have a used 4wd that you would trade with me on. I love my Farmtrac!!
Thanks I am in western North Carolina.

Man, I feel for you. You have what I consider one heck of a strong tractor, but because of management screw ups in the company the Farmtrac tractors aren't bringing any money. I'm one of those "vultures" who have been lurking on eBay waiting for a nice Farmtrac like yours to go up without any reserve. It appears as if the new ones the dealers are trying to liquidate for "under dealer cost" and they are only getting bids for about half of their asking price. I don't really need another tractor, but if I can buy what I consider a great tractor for less than half price, I'd have to consider it. It's really unfortunate for the dealers and current owners who want to get rid of one though. It appears as if the only buyers are people like me who want to steal one; figuratively speaking. Good luck to you.