Free 7 Day Trial RV GPS App RV Trip Planner Campground Reviews RV Maintenance Free 7 Day Trial ×
RV Trip Planning Discussions

Go Back   iRV2 Forums > THE OWNER'S CORNER FORUMS > Monaco Owner's Forum
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 08-28-2012, 04:57 PM   #1
Senior Member
 
Monaco Owners Club
Join Date: Feb 2011
Location: Signal Hill, California
Posts: 3,319
Extra extra read all about it......

The first shoe dropped Monday (Aug. 28) at Navistar International Corp., landing heavily and putting investors and employees on alert for deep structural changes at one of the oldest companies with a Chicago pedigree.
As reported by the Naperville Sun-Times, under pressure from activist shareholders and with a cash burn rate one analyst called “atrocious,” Lisle-based Navistar installed an outsider as its chairman and “interim” chief executive and announced the abrupt retirement of its top officer, Daniel Ustian. Ustian, 62, had been with the company for 37 years, becoming CEO in 2003 and chairman in 2004.
Lewis Campbell, named to succeed Ustian, comes to the engine and truck manufacturer from Textron Inc., where he was chairman and CEO. Campbell, 66, also spent 24 years in product design and engineering at General Motors Co.
Navistar also said it was promoting Troy Clarke, 57, another former GM executive who joined Navistar in 2010, to president and chief operating officer, the company’s top day-to-day role.
Analysts said the appointments indicate the board’s willingness to entertain bold steps in righting the company. They also repudiate an engine-emissions technology that Ustian championed but that never got clearance from federal regulators.
As a result, Navistar has been forced to buy high-cost engines from a competitor, Cummins Inc., that meet standards for the emissions of nitrous oxide.
Also part of Ustian’s departure were a $172 million loss the company reported for its second quarter and its Aug. 2 revelation that the Securities and Exchange Commission is investigating its accounting. For investors, it was an unpleasant reminder of an accounting probe from 2007 that got the company’s stock pulled from the New York Stock Exchange for 16 months.
Likely next steps for Navistar, analysts said, are layoffs as the company turns its attention to its high costs. Sales of certain operations or a deal for the entire company also are possible.
“Near-term, the next six to nine months are critical as Navistar brings new products and technology to market,” said David Leiker, who follows the company for Robert W. Baird & Co. Inc. He has a neutral rating and a $25 price target on the stock.
In Monday’s trading, Navistar shares rose 34 cents, or 1.5%, to $23.32. The shares are down 42% over the last 12 months.
“The business will shrink. I think they will get rid of a lot of tangential things they have been manufacturing,” said Basili Alukos, analyst at Morningstar Inc. He said the management changes are important to the company’s turnaround and noted that while it exhibits an “atrocious” cash burn rate, it has secured $1 billion in financing from a group of banks.
__________________
Sanford, Linda & R cats: Molly, Levi, Cody
2011 Monaco by Navistar RV
Good Sam Life Member Good Sam Hams Chapter
deSanford is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 08-28-2012, 05:34 PM   #2
Member
 
Adaisu's Avatar
 
Monaco Owners Club
Newmar Owners Club
Tiffin Owners Club
Join Date: Aug 2012
Location: HOMESTEAD, Florida
Posts: 72
You have to edit your signature (Navastar-Navistar)
__________________
Ricardo
2015 Newmar Canyon Star 3913
2013 Honda CRV AWD
Adaisu is offline   Reply With Quote
Old 08-28-2012, 06:05 PM   #3
Senior Member
 
Monaco Owners Club
Join Date: Feb 2011
Location: Signal Hill, California
Posts: 3,319
When my motor home was built it was called a "Navastar Monaco Cayman". Maybe I can shorten it to just Monaco as it has the Monaco symbol on the top front, or purchase a "plastic" Navastar to replace the Monaco. This county is going through a lot of changes. deSanford
__________________
Sanford, Linda & R cats: Molly, Levi, Cody
2011 Monaco by Navistar RV
Good Sam Life Member Good Sam Hams Chapter
deSanford is offline   Reply With Quote
Old 08-28-2012, 06:10 PM   #4
Senior Member
 
Monaco Owners Club
Join Date: Feb 2011
Location: Signal Hill, California
Posts: 3,319
What do you think of this new sig Ricardo? deSanford
__________________
Sanford, Linda & R cats: Molly, Levi, Cody
2011 Monaco by Navistar RV
Good Sam Life Member Good Sam Hams Chapter
deSanford is offline   Reply With Quote
Old 08-28-2012, 10:28 PM   #5
Senior Member
 
Happycarz's Avatar
 
Monaco Owners Club
Join Date: Sep 2007
Location: Scottsdale, AZ
Posts: 2,194
deSanford, I think you missed his point.

Navistar is spelled with an "i"

In your signature, you are spelling it with an "a", Navastar as opposed to Navistar.

We need to keep you on the straight and narrow, here.
__________________
Harry

2008 Monaco Camelot 40' PDQ
Happycarz is offline   Reply With Quote
Old 08-28-2012, 10:57 PM   #6
Senior Member
 
Monaco Owners Club
Join Date: Feb 2011
Location: Signal Hill, California
Posts: 3,319
I stand corrected THANKS Harry. deSanford
__________________
Sanford, Linda & R cats: Molly, Levi, Cody
2011 Monaco by Navistar RV
Good Sam Life Member Good Sam Hams Chapter
deSanford is offline   Reply With Quote
Old 08-28-2012, 11:22 PM   #7
Senior Member
 
Drifter's Avatar
 
Monaco Owners Club
Holiday Rambler Owners Club
Join Date: Dec 2006
Posts: 1,716
Na-Nav-Navi-Navis----------I just can't bring myself to say it!
__________________
Mike & Sharon and our Pup Frankie
2008 HR Endeavor 40PDQ

Drifter is offline   Reply With Quote
Old 08-28-2012, 11:51 PM   #8
Senior Member
 
Monaco Owners Club
Join Date: Feb 2011
Location: Signal Hill, California
Posts: 3,319
I just learned to spell It (Navistar). deSanford
__________________
Sanford, Linda & R cats: Molly, Levi, Cody
2011 Monaco by Navistar RV
Good Sam Life Member Good Sam Hams Chapter
deSanford is offline   Reply With Quote
Old 08-29-2012, 10:14 AM   #9
Member
 
Adaisu's Avatar
 
Monaco Owners Club
Newmar Owners Club
Tiffin Owners Club
Join Date: Aug 2012
Location: HOMESTEAD, Florida
Posts: 72
Quote:
Originally Posted by deSanford View Post
What do you think of this new sig Ricardo? deSanford
Now is ok, lol.
Very interesting also your original post. I hope the company will recover and continue to produce these magnificent RV.
__________________
Ricardo
2015 Newmar Canyon Star 3913
2013 Honda CRV AWD
Adaisu is offline   Reply With Quote
Old 08-29-2012, 03:49 PM   #10
Senior Member
 
Monaco Owners Club
Join Date: Feb 2011
Location: Signal Hill, California
Posts: 3,319
Yes we do also as we need jobs in this country so people can buy these toys. deSanford
__________________
Sanford, Linda & R cats: Molly, Levi, Cody
2011 Monaco by Navistar RV
Good Sam Life Member Good Sam Hams Chapter
deSanford is offline   Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Featured Campgrounds

Reviews provided by


All times are GMT -6. The time now is 04:32 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.