Status of Everything Attachments

[jyoutz]

We own a lot of their stuff. Glad they're still going to be around so if I need box blade scarifiers, blade, replacement parts or pieces there's at least a chance of getting them.

I'd even order again from them, if the product and price are right. Though not payment in advance next time it'll have to be a payment method with buyer protection. We got both of our big orders before all the drama but since they've kind of sailed that boat trust with money up front is going to be a hard no going forward.

Not to defend their bad business decisions, but the actions of an outright fraudster wouldn't be to restructure and attempt to reopen and continue full business operation. That's the hardest road of all hard roads. That's something an entrepreneur who doesn't want to give up does not someone who only wanted to milk all the money and run.

So let's separate the internet hearsay and imagination from the facts of what we know. Which isn't much other than a big new building they can't use (for unknown reasons whatever 'occupancy' means in this context) pretty much bankrupted them while they were taking up front money from orders ending up robbing Peter to pay Paul. And one legit local article which made a side reference to the court proceedings freezing their ability to sell personal property assets until this was sorted out.

All the rest of it is a whole lot of people online slinging personal stories and mud. Many of which I don't trust not to be related to the competition or just have their own axe to grind.

They're back, their own comments in the video suggest court ordered financial oversight which is to be expected, and they're making product now and shipping product in a few weeks.

So, ok then. Let's see if they can hire some welders and get some quality product out the door again. The next 6 months will probably show if they're still a going concern or not. But it does look like it.

Box blade scarifiers and blades are fairly generic and available through many sources.

 

[Kep1a]

I really hope that they can pull this off. Their products are so much better than the other companies that it is just not even comparable. Their pallet forks are just amazing as well as all the other innovations they have made make them a leader in the attachments industry. I so want them to succeed.

 

[jyoutz]

I really hope that they can pull this off. Their products are so much better than the other companies that it is just not even comparable. Their pallet forks are just amazing as well as all the other innovations they have made make them a leader in the attachments industry. I so want them to succeed.

They did make good products, but there are a number of companies that make as good or better products. I have a few that are more heavy duty than the EA equivalent.

 

[deezler]

People here are too often talking like Ted is a shyster.

He took money out of his business!
He purchased nice things!
He didn't manage his risk! (only seen now in hindsight)

Well, duh. That is what everybody does. But give credit to Ted, unwise or not, Ted risked everything and sadly, unexpectedly, it didn't work out as intended.

Anyway, I wish Ted, and EA all the charity in the world and hope all can move on and heal any who have been financially impugned by the ordeal.

But, dude. He built a 10 million dollar glass lake house while simultaneously collecting multi-thousand dollar payments for customer equipment that he couldn't get built in his shop for 4-6+ months. Welders who could have been making customer equipment that was already PAID for, were instead building him a private mansion. He was taking the customer cash and building himself barbi's dream house while screwing over customers. Clear shyster behavoir, and for that, I am not ever going to be a fan of EA or give them a cent.

That is most definitely NOT "what everybody (who runs a business) does".

 

[airbiscuit]

Cue the Ted fanboys ...

 

[ning]

But, dude. He built a 10 million dollar glass lake house while simultaneously collecting multi-thousand dollar payments for customer equipment that he couldn't get built in his shop for 4-6+ months. Welders who could have been making customer equipment that was already PAID for, were instead building him a private mansion. He was taking the customer cash and building himself barbi's dream house while screwing over customers. Clear shyster behavoir, and for that, I am not ever going to be a fan of EA or give them a cent.

That is most definitely NOT "what everybody (who runs a business) does".

Not defending him -- realize that that house has been there for a while, it's actually been for sale for a couple years.
Not saying the house isn't a symptom of something, but he likely wasn't diverting customer funds to it... maybe to the new building? seems likely.

I can easily excuse using customer's funds to pay for the materials to build the customer's product (home builders do this all the time) but it shouldn't go into a general business fund.

 

[MinnesotaEric]

But, dude. He built a 10 million dollar glass lake house while simultaneously collecting multi-thousand dollar payments for customer equipment that he couldn't get built in his shop for 4-6+ months. Welders who could have been making customer equipment that was already PAID for, were instead building him a private mansion. He was taking the customer cash and building himself barbi's dream house while screwing over customers. Clear shyster behavoir, and for that, I am not ever going to be a fan of EA or give them a cent.

That is most definitely NOT "what everybody (who runs a business) does".

When was the home completed?

Do you think Ted co-mingled customer funds with personal funds? If so, what is your proof?

You're speculating.

I know it and you know it.

The underwriters at his bank looked at the company's resources and gave EA the company a loan. Are the bankers incompetent?

The whole issue of not being able to occupy the new building is a big deal.

Not only is EA servicing the construction loan, but they also don't have the increased manufacturing capacity they hoped for and that capacity is now locked in expensive attorney fees. Moreover, in the local community, everybody takes sides.

All this to say that apparently you don't like

"He bought nice things" before Ted took out a construction loan to expand his business and before things soured with his contractor.

 

[Fuddyduddy1952]

When was the home completed?

Do you think Ted co-mingled customer funds with personal funds? If so, what is your proof?

You're speculating.

I know it and you know it.

The underwriters at his bank looked at the company's resources and gave EA the company a loan. Are the bankers incompetent?

The whole issue of not being able to occupy the new building is a big deal.

Not only is EA servicing the construction loan, but they also don't have the increased manufacturing capacity they hoped for and that capacity is now locked in expensive attorney fees. Moreover, in the local community, everybody takes sides.

All this to say that apparently you don't like

"He bought nice things" before Ted took out a construction loan to expand his business and before things soured with his contractor.

To reply you should read the entire story, read articals in NC newspapers and read where EA workers built the lake mansion. Lots of stories plus getting money in advance and not delivering. Look up the F BBB rating and reviews.
And I like EA. It's just a shame and certainly not how businesses are run properly.
If you were out over $3K, you'd be telling a different story.

 

[aesanders]

Not defending him -- realize that that house has been there for a while, it's actually been for sale for a couple years.
Not saying the house isn't a symptom of something, but he likely wasn't diverting customer funds to it... maybe to the new building? seems likely.

I can easily excuse using customer's funds to pay for the materials to build the customer's product (home builders do this all the time) but it shouldn't go into a general business fund.

Many employees that worked there admitted that they were sent to work on the Lake house, even when they had months long wait times.

 

[RjCorazza]

The subject of payment in advance comes up a lot, with some very different perspectives and opinions. For general contractor type work I expect 10% to start, several material draws, then a final payment. My last work I had done was very similar, 10%, 40, 40, 10.
Of note, other than the 10% to start, all other payments are being made while work is in progress or completed. Paying for an implement up front with a 4-6 month lead time is a whole 'nother thing.