Tough Times In The Stove Business - VC Shutting Down Until The End Of March
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End of march this year....but this is pretty heavy duty since they already shut down for 3 weeks in the fall. Also, what are the chances of lots of their stoves selling big in April?
Personally, I don't see a light at the end of the tunnel for them, but that is speculation and guess. Remember the history - they 100% failed completely less than 3 years and were bailed out. It makes sense that they never yet recovered (just were taken over by a company that they were in debt to!)....
AND, keep in mind that their main sources of revenue are the new construction market....the Majestic fireplaces, etc.
Add the economy into the mix, and you might see why I am pessimistic. I don't think the company will cease to cast or to build, but I do think there will have to be a new direction for profitability to return. It might be time for Vermont Castings to "go small" again and get back to roots as opposed to selling BBQ's, cheap prefab fireplaces and all the other stuff.
Who knows? Just a guess from afar.
Any rich people here who want to cough up 50 million or so????? We might be able to talk for that kind of money.
Personally, I don't see a light at the end of the tunnel for them, but that is speculation and guess. Remember the history - they 100% failed completely less than 3 years and were bailed out. It makes sense that they never yet recovered (just were taken over by a company that they were in debt to!)....
AND, keep in mind that their main sources of revenue are the new construction market....the Majestic fireplaces, etc.
Add the economy into the mix, and you might see why I am pessimistic. I don't think the company will cease to cast or to build, but I do think there will have to be a new direction for profitability to return. It might be time for Vermont Castings to "go small" again and get back to roots as opposed to selling BBQ's, cheap prefab fireplaces and all the other stuff.
Who knows? Just a guess from afar.
Any rich people here who want to cough up 50 million or so????? We might be able to talk for that kind of money.
Should they once again fail, it would truly be sad. Their name was synonymous with wood stoves for many people even if you didn't know anything about wood stoves. Names like Defiant, Vigilant, spoke of strength and the ability to ward off the ravages of cold. Their stoves have always been "eye candy" too with a look many people considered the quintessential wood stove. I don't know the stove manufacturing business, but it's a shame to see such a legendary brand diminished to the status it has today within the marketplace. Hope they find a way back not just as a business but as something resembling the former icon of the industry they once were.
The icon pretty much went south when the founder left - that was about 1990. So they had 14 years or so in that mode, and about 17 years since. Very few companies have been able to go "backwards" in this biz...back to basics, so to speak. But I would like to see that happen myself. Maybe Englander should buy them 
Corie would then be head of R&D;for VC. He would then push to hire me for marketing consultant.
Corie would then be head of R&D;for VC. He would then push to hire me for marketing consultant.
I feel bad for those folks who have to feed their families after being laid off.
It seems as if this company has been floundering for years. This may be what is needed to get back to the roots. Or finally call it quits.
However, given the current energy climate and the increase in folks burning wood, almost seems like a good time to be in the wood burning business.
Of course, I only know the business from the end of a log as it goes into the stove.
J.P.
It seems as if this company has been floundering for years. This may be what is needed to get back to the roots. Or finally call it quits.
However, given the current energy climate and the increase in folks burning wood, almost seems like a good time to be in the wood burning business.
Of course, I only know the business from the end of a log as it goes into the stove.
J.P.
COOL!! Now your talkin! That 50 mill figure might need to be "discussed" though. And uhh...who here's qualified to actually run the dang thing? With all the common sense you find here, gotta be someone, then again I know same amount about the wood business as JP %-PWebmaster said:The icon pretty much went south when the founder left - that was about 1990. So they had 14 years or so in that mode, and about 17 years since. Very few companies have been able to go "backwards" in this biz...back to basics, so to speak. But I would like to see that happen myself. Maybe Englander should buy them
Corie would then be head of R&D;for VC. He would then push to hire me for marketing consultant.
Webmaster said:
What is wrong with the economy? I think we are doing just fine! At least those who want to do fine. Awfully negative aren't we?
ckdeuce said:
All of the people losing their homes will be over to your place shortly for a hot meal and a place to sleep.
Quality control went down the sheeter, and the company soon to follow suite.
Looks like they didn't learn from the first time.
Gots to keep the folks that feed ya money happy.
Looks like they didn't learn from the first time.
Gots to keep the folks that feed ya money happy.
Wow, if they actually go under...what will happen to needed replacement parts? Will the after market suppliers pick up the void? Will the value of the stoves out there actually increase in value?
BrotherBart said:
Understood.... However, I am not responsible for people who go to the bank and get "We can set you up in this $500,000 home for only $250.00 a month on you $50,000 a year salary". The old saying goes.... "If it sounds to good to be true". How should I be held accountable for someones..... Well frankly stupitity. Live within your means! And when we finally wise up and stop bailing people out because of their stupidity...... Then, only then, will we have poeple who are responsible for their actions. Teach a man to fish! You keep bailing them out, then when do they realize it is time to take care or themselves. Taught habits.
ckdeuce said:
Uh...I think all the homebuilders, auto makers, realtors, stove makers, stores and millions of others WANT to do fine, but for some reason just the desire has stopped working out....might be that buyers don't have any money in their pockets. Just a wild guess, but maybe pessimistic. After all, I am personally on a spending spree (got a nice recorder for podcasts today!)
ckdeuce said:
Yeah, those dang $10. a hour workers at VC......they took those hard, on your feet all day, nasty and dirty jobs for granted. And the nerve of them, wanting to have health care! People should lower their expectations and stop whining. The economy is great in VT and we have jobs shoveling snow (which does not pay much in VT).....
I think VC should rescind that offer to lend them money for their health care. After all, the last thing these poor workers need is to get further in debt with no job. In fact, the sooner they die, the less the rest of us will have to pay their unemployment!
I agree, it is time to teach them a lesson they will never forget (while the CEO jets around, and all the other companies make $$ importing from Asia.)
Scratch, scratch, itch, itch.....if only those dang ingrate workers would go away.
Webmaster said:
I was going to make a similar comment but was worried you were going to send it to the ash can. You're going to
have to censor yourself.
I let Begreen or Goose do it. It makes them feel important and powerful.
Hey, maybe deuce has some jobs for those foundry workers. Obviously, I would use a little more work myself.....
Hey, maybe deuce has some jobs for those foundry workers. Obviously, I would use a little more work myself.....
Health care? Who was talking about health care? I was talikg about those who are " losing their homes". $10.00 an hour.... Well, they can find another job or work a second. As for people spending $$$$. They are. I can't help it that the big US auto makers made the decision to built junk through the 70's 80's and 90's. By the way, I ONLY buy American auto's. They are finally wising up and making a good quality auto. It will take time, but don't count them out. In fact, I would advise you to buy stock in the big three. Fact is, you and I live in the most powerfull country in the would. A county which millions try to come to every year. My granfather was an imagrant. Did it lafully, honestly and made good for his family. Everbody in this county has a chance. Do with that cahnce what you please, but if you make the wrong decisions, fix them and don't blame me if you don't. There is plenty of oppertuinity out there. Unemployment rate........ Well..... IF you want to work, there is a job for you. It might not be your dream job, but it will keep you until you find your dreams.Webmaster said:
Webmaster said:
If they are good people with a good record....... They will be fine. Tough to lose your job. Horrible, scary, heart wrenching. I honestly feel for them. Hopfully they will get some sort of severance and will land on thier feet. As for jobs, I do have three full-time openings.
ck,
are you sure you are talking about the thread we are talking about? This is about some poor folks losing the little bit of work they have! Sounds like you are talking about something else. Heck, my Grandpa operated an elevator.....and that was not exactly a high placed position. But it was a testament to our economy that a person could actually make a living and buy a house (and raise a family) on a salary of a elevator operator! He also had scads of italian food and VO plus bar hopping every weekend on that salary.
These folks in VT and everywhere else are hurting. I guess we don't understand why you are ranting about "the most powerful country", while we are discussing the fact that the stove business is hurting big time.....seems off-topic.
Me think you have not found the Ash Can yet......
are you sure you are talking about the thread we are talking about? This is about some poor folks losing the little bit of work they have! Sounds like you are talking about something else. Heck, my Grandpa operated an elevator.....and that was not exactly a high placed position. But it was a testament to our economy that a person could actually make a living and buy a house (and raise a family) on a salary of a elevator operator! He also had scads of italian food and VO plus bar hopping every weekend on that salary.
These folks in VT and everywhere else are hurting. I guess we don't understand why you are ranting about "the most powerful country", while we are discussing the fact that the stove business is hurting big time.....seems off-topic.
Me think you have not found the Ash Can yet......
With all do respect, I apoligise if I offended you or anyone else. However, not all "folks in VT and everywhere else" are hurting. Unfortuantly the manufaturing side of OUR economy is indeed hurting. I just will not stop believing in poeple. Oh, and to avoid the trash can.... My Granfather and I are also Itailian. And I hope the trash can is not simular to "sleeping with the fishes!!" Agian, I post with much respect to those who may lose their jobs. But I have complete faith in those who chose to move on.Webmaster said:
Funny thing is that there are a lot of articles in the press lately about booming wood stove sales! I emailed one of the reporters today and gave her this story.....and said "in case you want to know the truth".
i for one am not real happy to see VC taking it on the chin, mostly for the guys who do the building's sake. they do make a quality product and the names mentioned at the head of this thread just scream tradition, defiant, gawd , what a name! i love it. within the industry there is competition however there are more than one market , and frankly VC is not in the market we are in (with exception to the century units which arent really true VC units IMHO though good stoves) i think the economy is a bit down , but its down for the wrong reasons. and a lot of it is the consumers fault. (though we build for the consumer, the market dictates what we build) same as with cars , back 5 years ago auto makers were building SUV's that got 10 miles to the gallon , seems it was a "my suv is bigger than yours" was the game of the day , toss in the housing boom (along with it ,the stupid high loans for morgages that "john q" was signing up for) hey , it had to implode eventually. well it is starting to and the reason is simple, CONFIDENCE, right now there is none in the economy. without confidence , money dont move. VC is the first victim (actually the second (harman)) because they are vulnerable and they do higher end stuff which is not going to sell during this kind of downturn.
"He who will not economize will have to agonize. "
Confucius
or Samuel Gompers who said "what you have , spend less"
it is we consumers who have brought this on by demanding the excesses we have in the recent past , and we as consumers will have to end it.but until the average joe's have enough confidence they wont get fleeced again , its gonna be a bumpy road.
"He who will not economize will have to agonize. "
Confucius
or Samuel Gompers who said "what you have , spend less"
it is we consumers who have brought this on by demanding the excesses we have in the recent past , and we as consumers will have to end it.but until the average joe's have enough confidence they wont get fleeced again , its gonna be a bumpy road.
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