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Old 06-07-2012, 04:12 PM   #1
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Navistar Loss Brings an End to Workhorse

Article excerpt from RV Daily Report,
Greg Gerber, Editor
Navistar loss brings an end to Workhorse

LISLE, Ill. -- Navistar International Corporation today announced a management realignment designed to give further momentum to its strategy of great products, competitive cost and profitable growth, the company said in a press release. The company also released second quarter results and acknowledged that discussions with the U.S. Environmental Protection Agency (EPA) for its EGR-only 0.2 NOx emissions engine certification are ongoing.

Navistar reported a loss of $172 million, or $2.50 per diluted share, for the second quarter ended April 30. After pre-tax adjustments to exclude net impact of pre-existing warranty charges of $104 million related to 2010 emission standard engines, asset impairment charges of $38 million, engineering integration costs of $29 million, a charge of $10 million for non-conformance penalties, and the release of an $181 million income tax valuation allowance related to Canadian deferred tax assets, Navistar's loss for the second quarter 2012 was $137 million, or a loss of $1.99 per diluted share.

"Certainly, our first half performance was unacceptable. It included a warranty reserve to repair early 2010 and 2011 vehicles," said Daniel C. Ustian, Navistar chairman, president and chief executive officer. "We were also affected by speculation surrounding our engine certification for our Class 8 engine, which is why we are working tirelessly with the U.S. EPA to get resolution."

This article is continued here .... Navistar loss brings an end to Workhorse
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Old 07-16-2012, 05:29 PM   #2
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What does this mean in lay terms to those of us who own a Workhorse Chassis Unit?
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Old 07-16-2012, 07:11 PM   #3
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It means the reporter is an idiot.

Navistar "idled" the workhorse division some time ago, The losses, in part, were due to that decision, so it's not "Navistar losses bring end to workhorse" but "End of Workhorse adds to Navistar Losses". the idiot got it backwards, Completly natural for reporters. I can't begain to list all the errors they have made when reporting on stories where I was physically there.. INCLUDING my identification.

Navistar will continue to provide parts and support for your Workhorse for the obligatory period same as Workhorse would have done had they continued, NO change. The only thing it means is that your next, brand new, motorhome, won't be on a WCC.
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Old 07-17-2012, 12:54 PM   #4
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It's such a shame that Workhorse destroyed itself through poor management.

They should have been the Market leader in Gas coach chassis, instead they turned themselves into the Gas Chassis boobs. The UFO should have had the choice of the DuraMax since it's introduction. If they did that the loss of the 8.1 would not have been such a big deal.

I can't believe the Navistar take over didn't make the Max Force available from the beginning. Unbelievable how some businesses don't clearly see what their customers really want, or the wave of the future!
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