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Old 04-26-2008, 07:05 PM   #1
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"If you've been feeling pretty good about the prospects for the economy as the stock market has climbed off the mat, I suggest you forget the Dow industrials ($INDU) for a minute and look toward Yakima, Wash.

That's where Western Recreational Vehicles, a four-decade-old company employing 220 people, closed its doors last week.

The family-owned maker of Alpenlite-brand motor coaches and campers had survived every bad economy and spike in oil prices since 1971, but it had to shut down when banks yanked its credit. Without the ability to borrow to buy parts and maintain payrolls during a period of seasonally soft sales, as it has always done, a wonderful small business went poof.

Some 200-odd jobs might not seem like a lot, but multiply that times several thousand around the nation and you get an idea of the tsunami of pain that's rushing toward U.S. banks and the businesses they serve."

The above was cut and pasted from MSN Financial Page.
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Old 04-26-2008, 07:05 PM   #2
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"If you've been feeling pretty good about the prospects for the economy as the stock market has climbed off the mat, I suggest you forget the Dow industrials ($INDU) for a minute and look toward Yakima, Wash.

That's where Western Recreational Vehicles, a four-decade-old company employing 220 people, closed its doors last week.

The family-owned maker of Alpenlite-brand motor coaches and campers had survived every bad economy and spike in oil prices since 1971, but it had to shut down when banks yanked its credit. Without the ability to borrow to buy parts and maintain payrolls during a period of seasonally soft sales, as it has always done, a wonderful small business went poof.

Some 200-odd jobs might not seem like a lot, but multiply that times several thousand around the nation and you get an idea of the tsunami of pain that's rushing toward U.S. banks and the businesses they serve."

The above was cut and pasted from MSN Financial Page.
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Old 04-27-2008, 06:34 AM   #3
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I understand that last year or the year before they had been bought because they were on the verge of bankruptcy but dont know the true story. In another forum it was said that their rvs were pure crap. Again I dont know.
Sadly to see anyone put out of work hurts. And with those that have shutdown or cut back there are a lot out of work.
Not only in the rv industry but truck operators have had to shut down.
Gas stations are closing.
And the biggest cause is gas prices.
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Old 04-27-2008, 07:58 AM   #4
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When you start to look at a tight economy and you got o tighten the belt a bit, first thing to go is the spending on the extra items and RVs are not a necessity for most.

To me the high oil prices are a double edged sword ...as long as they are high, I'll have a good paying job...bottoms falls out of the energy sector...well back to beans and cornbread.

I am afraid we have the worst to come.

ken
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