Community Forums

Bad Bolt · 06-03-2019, 08:25 AM

I'm hearing that CW is in big trouble. Stock price is tanking and questions about many lawsuits against them.

I'm hearing that anyone who has an ESP warranty with CW should Immediately cancel it, or risk losing your entire investment if they go out of business.

Check out The RV Show USA on YouTube for exact ways to get your money back if you feel the risk is too great to continue.

https://youtu.be/qnDm1JC7U-s

Must do before they file bankrupt. Many other don't do's and DO NOW in his video recently posted.

Solo_RV_Guy · 06-03-2019, 08:35 AM

Quote:

Originally Posted by Bad Bolt

I'm hearing that CW is in big trouble. Stock price is tanking and questions about many lawsuits against them.

I'm hearing that anyone who has an ESP warranty with CW should Immediately cancel it, or risk losing your entire investment if they go out of business.

Check out The RV Show USA on YouTube for exact ways to get your money back if you feel the risk is too great to continue.

Must do before they file bankrupt. Many other don't do's and DO NOW in his video recently posted.

This is a persistent rumor and one that was discussed on these here very forums not more than 45 days ago.

I'd be interested to know the source of these rumors as they keep coming back (like the b.s. about Proctor & Gamble being a "satanic" company) like a snort of cheap scotch whiskey.

I'm NOT saying Kamping Wurld is free of financial issues. They seem to have an identity crisis that does not have a clear plan of deployment (conflicting info from CW employees and corporate management, for example) but they're moving into a brand new store near me, new place that was a mobile home park a few months ago.

While I dislike Marcus Lemonis and much of the avarice that he stands for, I don't think CW is ready to collapse and it's probably too early to make popcorn to watch such a thing happen.

Bad Bolt · 06-03-2019, 09:12 AM

Video included in the first post. This is a video on how to do it and a pdf file link is also available.

Not everyone's risk tolerance is the same as the other guy.

Do your homework on this one and act accordingly.

It's your money, Not theirs...

hohenwald48 · 06-03-2019, 10:37 AM

Quote:

Originally Posted by Solo_RV_Guy

This is a persistent rumor and one that was discussed on these here very forums not more than 45 days ago.

I'd be interested to know the source of these rumors as they keep coming back (like the b.s. about Proctor & Gamble being a "satanic" company) like a snort of cheap scotch whiskey.

You can read their financials here and reach your own conclusions. If I still had their stock I'd probably be concerned. However, it just might be a buying opportunity.

https://finance.yahoo.com/quote/CWH/financials?p=CWH

RickNC · 06-03-2019, 10:40 AM

Typical boiler plate talk show shtick. Make a villain and then spread fear among the suckers that will listen in and believe. I have no special love for Camping World or Lemonis , but every week it is a new post of CW gloom and doom from somebody who listened to an Alan Warren podcast. Alan has been on this Lemonis/ CW bashing kick since Lemonis waded into political commentary back in 2016.

Quote:

Originally Posted by Bad Bolt

Video included in the first post. This is a video on how to do it and a pdf file link is also available.

Not everyone's risk tolerance is the same as the other guy.

Do your homework on this one and act accordingly.

It's your money, Not theirs...

hohenwald48 · 06-03-2019, 10:45 AM

Perhaps, but you can't deny their stock price and profits are on a significant downhill slide.

RickNC · 06-03-2019, 11:04 AM

Quote:

Originally Posted by hohenwald48

Perhaps, but you can't deny their stock price and profits are on a significant downhill slide.

So have a lot of other companies that are still around. I bought into Sprint in the teens in the mid 1990's it climbed to into the 60's before I sold it in 1999. Then in 2000-2001 it went into the toilet to about $6, hasn't bounced back much since. Sprint is still in business 19 years later.
But that wasn't the point of my reply, I could care less if CW goes under or not. My point is making financial decisions based on the opinon and advise of a Youtube fake radio show host is foolish.

PJStough · 06-03-2019, 11:07 AM

Quote:

Originally Posted by RickNC

So have a lot of other companies that are still around. I bought into Sprint in the teens in the mid 1990's it climbed to into the 60's before I sold it in 1999. Then in 2000-2001 it went into the toilet to about $6, hasn't bounced back much since. Sprint is still in business 19 years later.
But that wasn't the point of my reply, I could care less if CW goes under or not. My point is making financial decisions based on the opinion and advise of a Youtube fake radio show host is foolish.

Well said.

Solo_RV_Guy · 06-03-2019, 11:17 AM

Quote:

Originally Posted by Bad Bolt

Video included in the first post. This is a video on how to do it and a pdf file link is also available.

Not everyone's risk tolerance is the same as the other guy.

Do your homework on this one and act accordingly.

It's your money, Not theirs...

Simply put, I don't use an hour of my life to refute an opinion video.

The PDF is a good step by step to getting a prorata refund of the balance of CW's notoriously overpriced ESP, which has nothing to do with any potential financial issues with CW's holding company.

Getting out of that ESP is a good idea to start with, but to be clutching pearls and rending garments seems over the top.

I don't do business with Kamping Wurld because they're the equivalent of used car lots (even with new RVs) and because Lemonis is a major jerk (the words I want to use are much stronger, but verboten, on the forums).

In the other iRV2 thread there was discussion by actual finance and stock market folks as to the condition of CW and its holding company owner. While not exactly champagne and caviar, it's not ready for the undertaker, either.

But by all means, if dumping the ESP makes good sense, do it.

redhooker · 06-03-2019, 06:12 PM

The fact that they have been dumping the Camping World name all over the country is definitely not a sign that the existing business model is working.

By their own words via the investor reports they are leveraged over 100:1 debt to assets right now. And Marcus admitted they have put over 315,000 people in the last 3 years into campers that will be so upside down on financing they will be unable to trade in for a decade or more. So much for repeat business.

I liked the store near us. My kids loved looking around and a visit was like a treat to them. We keep up our discount membership and buy items there pretty frequently (usually have to get them to price match the internet though). If they just put some effort into being an honest and upfront seller they could own the RV business. Marcus does not understand this industry as well as he thinks. Most people we know in this hobby want to buy at a quality dealer. If I get great service and an honest deal I could care less if some fly by night dealer up the road has one listed for a few bucks less. With CW’s footprint and resources they could have been what so many of their customers thought they were: a place to buy a coach and enjoy support after the sale from a massive network of dealers. But alas, they were never that. No warranty work away from selling dealer without massive headaches. They ended up being a learning experience for thousands of people on what NOT to do when buying an RV.

Marcus has driven CW the other way-advertising lower prices to get you in the door and then putting the screws to the buyer after they get hooked. We shopped there once and the first thing they want-before giving you an OTD price as well as trade in value- is a signed “As is Buyers Order”. Sign that and the negotiations are over before they begin. There are but only so many first time buyers out there and the well may be drying up.

Hopefully they can make some changes and turn things around. As we love this expensive hobby I for one enjoy more options to waste my money, not less.

Sweetbriar · 06-03-2019, 07:28 PM

Quote:

Originally Posted by RickNC

,,, But that wasn't the point of my reply, I could care less if CW goes under or not. My point is making financial decisions based on the opinion and advise of a Youtube fake radio show host is foolish.

Exactly. This isn't the first video they has uploaded to YouTube about CW and being back by a competitor (Cheyenne Camping Center) makes it the infomercial even more suspect. They produced this one 18 months ago - https://youtu.be/6wrsMU7WMuQ.

I'm certainly not a fan of C/W and if they fold so be it. The RV marketplace has changed dramatically in ten years and no one knows what it might look like in another ten.

msaffa33 · 06-03-2019, 08:23 PM

Before we bought our Dolphin, We went to Camping world to look at class C's. The prices for new were just crazy. They showed us one used, when you walked in it smelled like mold. Sellman said it hadn't been detailed yet.

Bad Bolt · 06-04-2019, 07:04 AM

Quote:

Originally Posted by RickNC

But that wasn't the point of my reply, I could care less if CW goes under or not. My point is making financial decisions based on the opinon and advise of a Youtube fake radio show host is foolish.

No, he very much looks to be an advocate. I watched several of his videos along with what his investor guest had to say and I don't think I would characterize him like you do, which is to attack the person and not the message.

Why wouldn't a competitor point out bad behavior from a company to garner business. Should it not be exposed to the light of day?

Capitalism in first form...

There are too many indicators that CW is in trouble and any sane investor or customer would be remiss not to At Least take a look at cutting potential loss. Happens every day in investing.

**Spdracr39** · 06-04-2019, 09:04 AM

Camping World, Walmart, Apple, At&t, Facebook, Google .... everyone loves to hate the corporate monsters because their corporate strategy is to make money for their investors no matter what. Even if all the people that are complaining quit doing business with them it might lower their bottom line 1-5%. Drop in the bucket. I can assure you none of them are going anywhere.