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post #1 of 43 (permalink) Old 08-03-2011, 12:41 PM Thread Starter
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Economic Reality

I am on Navistar's email list and this is what I just got. Reality is what people don't like to face, but sorry folks, hate to be a bummer, but this is just one report.

News Release Issued: August 2, 2011 3:58 PM EDT

Navistar Announces North America Restructuring to Drive Greater Manufacturing Flexibility
Company confirms capacity to meet future demand
WARRENVILLE, Ill. (August 2, 2011) — Navistar International Corporation (NYSE: NAV) announced today it intends to close its Chatham, Ontario, truck manufacturing operation, which has been idled since June 2009. The company also announced plans to rationalize and better integrate its RV and chassis businesses.

The Chatham facility has been idled and employees have been on layoff status for the past two years due to the company’s inability to reach a collective bargaining agreement with the Canadian Auto Workers. As a result, Chatham production has already been absorbed by other Navistar truck plants.

“From a capacity standpoint, we are well positioned to meet demand expected in the last half of 2011 and further increases in 2012,” said Dee Kapur, president, Navistar Truck Group. “We’re seeing tremendous benefit from our flexible manufacturing strategy, which allows us to build more trucks—and a wider variety of them—at various plants.”

Navistar also announced plans to significantly scale back operations at its Monaco headquarters and motor coach manufacturing plant in Coburg, Ore., which will impact approximately 450 people. All motor coach production will be consolidated at Monaco’s Wakarusa, Ind., manufacturing facility, and certain Monaco headquarters functions will be consolidated at Navistar’s new corporate campus in Lisle, Ill. The company plans to continue producing towables and retain certain finance and information systems operations in Oregon, as well as maintain a RV service center there.

The company’s Workhorse Custom Chassis subsidiary plans to close its Union City, Ind., chassis plant, impacting about 225 employees. These operations will be consolidated into other existing Navistar facilities for greater efficiency and productivity.


Meanwhile, combining all motor coach production in Wakarusa will add about 400 jobs at that facility.

“We understand the impact these decisions have on our employees,” Kapur said. “We will treat people with respect and provide support to help them with their transitions.”

The planned restructuring and asset impairment activities related to the Chatham closure is expected to result in charges of $100 million to $130 million, of which the majority is related to pension and retiree healthcare costs. The actions related to the Monaco/Workhorse consolidation may result in charges of approximately $100 million, which are predominantly related to expected asset impairments. Most of the restructuring charges are expected to occur in the third and fourth quarters 2011, with the remainder taking place in 2012. The company expects ongoing savings of $20 million to $30 million annually once all of the actions are implemented.
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post #2 of 43 (permalink) Old 08-03-2011, 12:45 PM Thread Starter
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Re: Economic Reality

ADP Report Lifts Futures, for Some Reason - MarketBeat - WSJ

But we did add jobs for July.
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post #3 of 43 (permalink) Old 08-03-2011, 03:32 PM
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Re: Economic Reality

Paccar (owner of Kenworth, Peterbilt, and Daf) is absolutely slammed w/ orders. I have trucks parked at the factory that are built but missing key components because all the component suppliers can't keep up w/ the high demand.

IH is on an island of stupidity w/ their emissions solution and it has doomed them. Identical to when Cat went w/ their own emissions solution in 2004 which ultimately completely removed them from the Heavy Duty truck market and forced them into manufacturing their own trucks. The people who made those decisions should be fired at IH and they should adapt DEF like their European arm Mann already did.

What I'm telling you is that IH is shrinking, but everyone else is growing.

I will admit however that the Debt Ceiling debate dragging on basically slammed the brakes on the economy. I'd guesstimate that the Tea Party and their tactics personally cost me $20K-$25k in commission in deals I already had wrapped up and then the customers told me they were holding off due to the uncertainty.

I'm officially...Stroke-less.
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post #4 of 43 (permalink) Old 08-03-2011, 03:46 PM Thread Starter
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Re: Economic Reality

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Originally Posted by Suns_PSD View Post
Paccar (owner of Kenworth, Peterbilt, and Daf) is absolutely slammed w/ orders. I have trucks parked at the factory that are built but missing key components because all the component suppliers can't keep up w/ the high demand.

IH is on an island of stupidity w/ their emissions solution and it has doomed them. Identical to when Cat went w/ their own emissions solution in 2004 which ultimately completely removed them from the Heavy Duty truck market and forced them into manufacturing their own trucks. The people who made those decisions should be fired at IH and they should adapt DEF like their European arm Mann already did.

What I'm telling you is that IH is shrinking, but everyone else is growing.

I will admit however that the Debt Ceiling debate dragging on basically slammed the brakes on the economy. I'd guesstimate that the Tea Party and their tactics personally cost me $20K-$25k in commission in deals I already had wrapped up and then the customers told me they were holding off due to the uncertainty.
That is your personal opinion, great. I have a Navistar dealership right across from me (midstate) the best in WI, and I speak with the sale rep there on a regualar basis and he says the same things you say. I will not give out his name though. He is at every event we are at. Your word is as good as his.

You must like paying taxes. The tea party is for Fiscal responsibility period. So A) you don't follow that practice, B) you like spending money you don't have, or C) you are willing to pay my taxes as well, cause you imply you want to pay more.
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post #5 of 43 (permalink) Old 08-03-2011, 04:30 PM
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Re: Economic Reality

Being in the RV business, this is interesting. Monaco filled 11 and Navistar picked them up. I don't know what Workhorse would of done since the GM 8.1L engine production ended. Navistar is putting their Maxxforce 7 engines in these now. Some of Monaco's smaller rv's have the max 7 in it and I am going to assume that Monaco will do away with the Cummins ISL's and go with Navistars Max 10's and larger. Tiffin from Redbay, Al. is now putting Navistar max 7 and 10's in their new Glide chassis. But down sizing and consolidation is part of life and business. No one guarantees a job for life.
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post #6 of 43 (permalink) Old 08-03-2011, 06:16 PM
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Re: Economic Reality

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Originally Posted by Binderpower View Post
That is your personal opinion, great. I have a Navistar dealership right across from me (midstate) the best in WI, and I speak with the sale rep there on a regualar basis and he says the same things you say. I will not give out his name though. He is at every event we are at. Your word is as good as his.
Weird, you take the "word" of people only whom you deem side with your opinions politically as stone cold fact. Anything to the contrary, and you don't believe their "word", but simply say it's their opinion only.

Would you like me to quote you and cite examples of you claiming to "take their word for it"?

Of course, back on topic..... I guess you are forgetting that IH did lose a pretty large contract.... the one they used to have with Ford.

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post #7 of 43 (permalink) Old 08-03-2011, 10:19 PM
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Re: Economic Reality

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You must like paying taxes. The tea party is for Fiscal responsibility period. So A) you don't follow that practice, B) you like spending money you don't have, or C) you are willing to pay my taxes as well, cause you imply you want to pay more.
Huh? He didn't say anything about that. He said he lost money in commissions because of uncertantinty causing his customers to hold off...

I don't "like" paying taxes, but I'll sure pay them to make an extra $20-15k

02 CCSB, Bumpers from Texas, tranny from Arkansas, tunes from Colorado, and a few other little things...
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post #8 of 43 (permalink) Old 08-03-2011, 10:33 PM
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Re: Economic Reality

Heres some economic reality
US debt problem visualized: Debt stacked in 100 dollar bills

Dave G

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post #9 of 43 (permalink) Old 08-04-2011, 03:41 AM Thread Starter
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Re: Economic Reality

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Huh? He didn't say anything about that. He said he lost money in commissions because of uncertantinty causing his customers to hold off...

I don't "like" paying taxes, but I'll sure pay them to make an extra $20-15k
Sometimes you just can't follow. Do you not know what you write? You know what, I would rather buy an old piece of equipment lets just say an IH 1086 rather than buy a MX170, you know why, price. The difference will be about $100,000 or more. Do you get it? Do you read the regulations and trucking news on a daily basis. Do you know the uncertainty of OTR's? If I had a truck, I would hold off too. I would keep running it as is.
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post #10 of 43 (permalink) Old 08-04-2011, 03:49 AM Thread Starter
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Re: Economic Reality

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That is good!
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