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Old 04-28-2009, 04:04 PM   #1
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Affinity Group

Affinity Group, owners of Good Sam, Coast to Coast, Camping World, Trailer Life, Motorhome, and other RV related businesses, have suffered declining revenues as have many other RV related companies. Their debt rating has been cut by S&P to CCC with "outlook negative", which means they are likely to default on their debt. What happens now? If they can find a "Warren Buffet" type who will invest in the business, they'll probably be OK, if not ???
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Old 04-28-2009, 07:26 PM   #2
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I'm no expert on the finacial position or dealings of Affinity Group; what I've noticed over the past few years, though, is what I would classify as rapid and reckless growth attempts on their part, regardless of economic conditions.

For example, over the past few years, it seems as if every 10th NASCAR vehicle that passes by is sponsored in some respect by Camping World. Plus for 2009 they laid out $2 Million to sponsor the NASCAR Truck Series.

In addition, CW was at one time a "supply & service" business, but now they're full bore RV dealers, too. That takes a ton of additional capital & pulls their stores' emphasis away from what they were known for...supplies and service.

When will these "we gotta grow or we're gonna die" idiots ever learn

Dick
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Old 04-28-2009, 08:00 PM   #3
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When they die!
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Old 04-29-2009, 09:52 AM   #4
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When they die!

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Old 04-30-2009, 11:39 AM   #5
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I hadn't given it much thought but; the last time we were in Camping World in Wilsonville Oregon my wife commented that they had so little stock it looked like they were going out of business. A lot of things missing from the shelves and when we asked we were told "we are expecting that in on the next truck".
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Old 04-30-2009, 12:48 PM   #6
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The three greatest lies of all time:


The checks in the mail!

I have some swamp land in Florida I would like to sell you!

That's on the next truck!

I know the third one is not the normal third lie, but we are GP Rated!
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Old 04-30-2009, 04:46 PM   #7
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Couldn't happen to a nicer greedy overpriced group.
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Old 04-30-2009, 08:37 PM   #8
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If they run their business like they do their forum it's no wonder they are failing
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Old 04-30-2009, 09:00 PM   #9
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Goes to show you--bigger does not always mean better. Ken....
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Old 04-30-2009, 10:53 PM   #10
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Like any other large corporation, each group is a separate company. If one fails it doesn't affect any other "group" company. Freedom Roads is the RV sales company, Camping World is another. Marcus Lemonis, CEO of Camping World is forming a focus group comprised entirely of RV owners, in an attempt to improve his company. I hope his idea works. I dislike seeing any company fail, un-employment is too high now.
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Old 05-01-2009, 11:07 AM   #11
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Ray,IN-- You are correct to a point, the holding company owns the stock of Camping World, etc. We know that Affinity Group has more liabilities than assets and that most of that debt is due in June. We don't know the internal financials between the subsidiaries and the holding company. If they (Affinity) are unable to restructure the debt, as S & P suggests may occur, then assets (subsidiaries) have to be sold or liquidated to satisify the debt holders. Therefore subsidiaries may be affected as a result of the actions of the holding company.
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Old 05-05-2009, 07:46 PM   #12
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Well I'm going to hope they stay in business. I received a flyer in the mail today offering me the following services:
GS Club membership
Trailer life Dir
Camping World RoadCare
Camping Club USA Membership
Trailer Life Mag
CW Presidents Club Membership.

All for a mere $ 99.95 for all of them. There may be a catch, but I'll check it out and see. We are already members of the GS Club and their roadSvc which is coming due in July so this looks like a good deal. While we do not use most of these services/items, we did visit CW a couple of times last year. (not a member) s/Toby
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Old 05-05-2009, 07:57 PM   #13
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Quote:
Originally Posted by Toby View Post
Well I'm going to hope they stay in business. I received a flyer in the mail today offering me the following services:
GS Club membership
Trailer life Dir
Camping World RoadCare
Camping Club USA Membership
Trailer Life Mag
CW Presidents Club Membership.

All for a mere $ 99.95 for all of them. There may be a catch, but I'll check it out and see. We are already members of the GS Club and their roadSvc which is coming due in July so this looks like a good deal. While we do not use most of these services/items, we did visit CW a couple of times last year. (not a member) s/Toby
This is a heck of a good deal, IMO, providing they follow through with all the goods and services these features have provided in the past.

It can also be taken as a desparate attempt on Affinity's part to generate capital
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Old 05-05-2009, 08:16 PM   #14
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My guess is that they need to raise cash any way possible. I recently took a good deal on the GS road service - saved me $50 over renewing my Coach-Net. I like Coach-Net, but not for $50 extra.
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