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View Full Version : Meeting at CeRap- regarding SASCO



bams50
06-29-2009, 08:54 PM
We all know the situation RE: SASCO. We are now, at best, 6 months from it's closing, and who-knows-how-much inventory being lost forever. I'm guessing Dennis will close it down sooner if he can find a quick exit ramp.

I have spent a lot of time and energy trying to think of a solution. My mind simply cannot grasp the concept of brand new parts, made 40 and 50 years ago by a long-gone manufacturer for a brand of cars I happen to love, being lost forever- tossed in a landfill, or melted down to make parts that won't help one Studebaker continue on. Obviously, there needs to be a way to save them- all.

I have spent most of my life making business decisions. I have put together difficult, complicated deals and made them happen. But this one has me stumped! I have done lots of figuring, from lots of angles; I have some ideas, but have yet to find the combination that's workable. This situation is like the proverbial onion- many, many layers: The inventory, the owners, the banks, the logistics, the ticking clock- and the parts users (present and future), the hobbyists, the fans, the prices (current and future), warehousing... then add the folks- like myself- searching for a solution, including those currently in negotiations... that's a huge onion.

I'm proposing a meeting of a group of concerned/interested parties at Cedar Rapids. Looking at the schedule it looks like maybe Wed. night after the STF dinner and the drags, maybe 8PM. I'm suggesting a discussion of ideas geared toward saving the inventory. An in-person discussion eliminates the crackpots and snipers looking to salve their boredom by stirring up trouble behind the safety of a computer. Most of us here recognize the gravity of the situation, and likely have some ideas; and typing on a public forum is just not a good method to work through something like this.

Being realistic, a meeting like this may or may not accomplish anything. Still, we have to try anything we can... at least I do. This is one of those very few times in life that calls for throwing everything at it there is- if it doesn't pan out, I have to know I tried my best. The meeting is open to anyone who is interested in a frank, honest discussion, with egos checked at the door. Complainers and nitpickers need not attend- thinkers and knowledgeable folks are preferred. I would hope to see and hear from those knowledgeable and involved with the situation and history; maybe an open dialogue would spark the beginnings of a plan.

My cards on the table: I have been a car lover all my 48 years, especially collector cars. I have only been involved with Studebakers for about 6 years, but they have become my favorite. What I have to offer is the willingness to roll up my sleeves and give all I can to make a solution happen. What I don't have is the capital to fund a solution. I am lessening my involvement in the used car business, and am willing to consider a plan to take on the management of some sort of situation. I have a full-time job with the USPS, so I don't need this venture to put food on the table; but it has to be structured so it doesn't cost me. I've got 10 acres at my home, plus another 34 next door, plus another 26 at another location 9 miles from my home; so there's room for a building in several places. I am just as happy to help someone else formulate their own plan. My singular goal is to save everything from being lost- or at least as much as is possible.

What do you think? If you would make an effort to attend, no strings attatched, let me know here, or e-mail me at bams50@msn.com . If you think I'm nuts, let me know that too. At this point, I don't know! But one thing I do know is, some AMC guys I know would give most anything for a chance like we have here, instead of what happened, which was Chrysler scrapping everything without mercy when they bought AMC.

I'm trying to make a workable plan, including rearranging my life to do so. If you weren't going to CeRap, try to make it. Let's get together and see what we can come up wi

candbstudebakers
06-29-2009, 10:54 PM
Bob you can count myself and Ian Mackellar from Australia to be there, time is short and still how many people know what is really going behind closed doors with Dennis, bank, and who ever?...Bob

Bob Peterson / C & B Studebakers

Castro Valley, CA

http://i691.photobucket.com/albums/vv271/canbstudebakers/IM000994-1-1.jpg

HawkGT
06-30-2009, 02:47 AM
GREAT IDEA, Bob! Believe me, I would be there if I could. We DO need to try to find an answer, and there have already been some good suggestions from guys on the forum, allbeit mixed in with some other "stuff" as you say.

But a layoff earlier this year resulted in a new job from which I can't get time off as yet, so I have a suggestion as there may well be others in my shoes: if there is a speaker phone in the room where you will have the meeting, we could set up a conference line for a limited number to call in on. 8PM in Iowa is not a bad time for those in other parts of the country to dial in. I think I have the name of a conferencing service that is free or minimal charge, or we could use Skype at no charge.

Just a thought to keep in mind, in the hope that you get this together.

Thanks again for working for the future of the Studebaker Tradition
Gene Nagle

Escondido, CA
Originally from Rochester, NY (and I DO know where Parish is!)



Gene Nagle
1963 Hawk R1

jclary
06-30-2009, 06:32 AM
To paraphrase the old comedian George Gobel..."sometimes I feel like a brown shoe at a formal wedding"...I have chimed in with some opinions on this situation but have to admit that I have no resources to contribute. However, I will do all I can to give positive support and encouragement to any of you capable and willing to actively seek a solution. I ask that others in my position do the same and commit to refrain from negative nit picking of whatever results from the effort.

This situation is a serious matter and fraught with many pitfalls and potential problems. Equally, it is a tremendous opportunity to accomplish a task that few in our hobby could dream. Good luck and I wish everybody the best!:):):)

John Clary
Greer, SC
http://i518.photobucket.com/albums/u346/jconln/HPIM0372-2.jpg
Life... is what happens as you are making plans.
SDC member since 1975

Skip Lackie
06-30-2009, 07:15 AM
I have urged the SDC board on a couple of occasions to get involved in the SASCO situation in some manner, for the same reasons that Bams has outlined. However, Ed Reynolds has asked the board to delay doing anything until he knows whether or not he can make a deal with Dennis Lambert for the parts. Given Ed's obvious conflict-of-interest situeation, that's fair enough. And I would view SI's purchase of the whole inventory to be a great solution. But if they can't make a deal and the clock keeps ticking away, what then?

No one on the board opposed "getting involved", but SDC is not in the parts-vending business, and would never commit that level of resources to anything, no matter how deserving. SDC also has no local representative in SB that could arrange to "save" the parts. I think Champ64's description of the situation in another thread is fairly accurate -- the bottom line is that the two parties may be too far apart on the money.

One possibility that I proposed to the board was to provide low-interest loans to vendors willing to buy parts of the inventory. Again, no one on the board objected, but the legalities would have to be investigated. Meanwhile, the clock continues to tick.

BTW, the general membership meeting with the board is scheduled for Tuesday, 14 June -- so the proposed meeting will be AFTER the board's meeting with the membership. The board can vote on things by email, but it is often a lot slower than the kind of decision-making that can occur in a once-a-year, face-to-face meeting. Maybe it would be worthwhile for those with strong opinions to bring up the SASCO situation at the general membership meeting, if for no other reason than to remind the board that they, represenating all club members, have a big stake in the future of our parts supply. At least we would all know the situation -- we do spend a lot of time reviewing the same info.

Hopefully, the situation will be resolved by that time and we can all celebrate the continued availability of Stude parts.

Skip Lackie
Board member, Atlantic Zone

(Edited to revise 4th paragraph)

HookedonStudies
06-30-2009, 07:34 AM
The problem has been dissected fairly well over the last 60-90 days. I suggest that the agenda of any such gathering be [u]solution focused</u>. Come armed with as many ideas, facts and tangible plans as possible.
I suggest that someone from the Cedar Rapids host committee select a noninterested 3rd party to act as a facilitator for this meeting. This person will be charged with keeping the discussion focused and on track. If our goal is a viable solution to the SASCO parts future, we can't afford to waste time dredging up the villians and demons from the past. Move forward. If the problem is ultimately found to be insurmountable, we will know that the effort was made.

I'll be there with my 2 cents. (literally!):D



Pat Casey
55 Commander
58 Transtar
62 GT Hawk
66 Cruiser
SDC Member since 1988

Swifster
06-30-2009, 07:52 AM
Well, I have more time than money so maybe I'll make the trip. I do continue to play the Powerball lottery for an opportunity to buy SASCO, but so far the lottery people haven't been accommodating.

:(

---------------------------------------------------------------------------------------------------
Tom - Mulberry, FL

1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2125.60)

1964 Studebaker Commander 170-1V, 3-speed w/OD (Cost to Date: $623.67)

http://i74.photobucket.com/albums/i280/Swifster/The%20Daytona%20File/Avatar%20Size/01-01-05TheStartingPoint.jpg http://i74.photobucket.com/albums/i280/Swifster/The%20Daytona%20File/Avatar%20Size/07-17-07FrontClipRemoved.jpg http://i74.photobucket.com/albums/i280/Swifster/The%20Daytona%20File/Avatar%20Size/08-06-29.jpg

BobGlasscock
06-30-2009, 07:55 AM
I'm sure that I personally have less than the total amount of knowledge on what may be going on with Dennis and interested parties, and there are those on the forum that may just know nearly all of it.

That said, my first thought is that is Dennis willing to participate in this meeting and/or have a representative so that his parameters are known during the discussion. Seems like a lot of posts in different threads get summed up with something like "it depends on what Dennis wants to or can do. I think it would be productive if he were able to voice these criteria in real time.

I have no doubt that there are some of you guys that are friends of his and have an absolutely accurate idea of what his desires and capabilities are, but it could sure save time in "getting back to you" and also create an environment in which raw ideas could be talked about and critiqued.

'50 Champion, 1 family owner
http://i251.photobucket.com/albums/gg316/studebakerbob/SDC%20avatar/Studebakerstuff019.jpghttp://i251.photobucket.com/albums/gg316/studebakerbob/SDC%20avatar/Studebakerstuff018.jpg

warrlaw1
06-30-2009, 08:20 AM
If SDC were to get involved it would have to be on a non-profit basis and that would be in a conflict with many of our loyal vendors (SASCO included) who support the club, some of whom have a great track record in business, too. Please have a meeting and bang together a proposal, should the for-profit participants fail to save the inventory. Governments (and even governing bodies of great non-profit clubs) have a genuine roll to play. Most mega projects would never have been accomplished if we waited for a private, for-profit, white knight. I'd dump in my small $ contribution to a non-profit, but only if the white knights don't get there in time. Good luck and God speed.

Dick Steinkamp
06-30-2009, 10:40 AM
quote:Originally posted by BobGlasscock
That said, my first thought is that is Dennis willing to participate in this meeting...


Excellent point. Without Dennis, it would be rather meaningless.

Some here (in prior threads) have already jumped to some pretty big and wrong conclusions about "the facts", and have come up with ideas that have no bearing on what is actually happening or what Dennis wants to have happen (it IS his business you know). I'm not sure that even at this point we have all the facts.

I would guess he would appreciate some ideas from a group such as this, but developing an action plan without him present is probably a waste of time.



Dick Steinkamp
Bellingham, WA

http://i706.photobucket.com/albums/ww63/dstnkmp/pics075-1-1.jpg

bams50
06-30-2009, 01:37 PM
quote:Originally posted by Dick Steinkamp


quote:Originally posted by BobGlasscock
That said, my first thought is that is Dennis willing to participate in this meeting...


Excellent point. Without Dennis, it would be rather meaningless.



I disagree. This is not about Dennis- it's about saving the inventory.

It has been suggested I call Dennis and talk to him about any plan to do the above. Good advice, except for one problem: I have no plan to offer. The purpose of the meeting as I see it is to begin discussing ways to formulate a plan to present to Dennis. If I don't have that, I have no business wasting his time. Hell, there may not be any viable solution; no sense wasting his, or my, time if that's the case. This would be nothing more than a think tank.

As I said, Dennis would be welcome, but I don't think his presence is necessary, and maybe not prudent. As I understand it his position (input) has been made crystal-clear: He's losing his lease Dec. 31, and has zero interest in moving the inventory and continuing in business; and a large portion of the inventory could end up scrapped. If you have information different than that, let me know and I'll call and verify it. But I haven't seen or heard one statement anywhere that varies from that thus far- maybe I'm wrong. In the meantime, this might be at least a little better than sitting on my hands; that's not my style.

It should be noted that Skip mentions one of my main concerns: In no way do I want to get in the way of negotiations being conducted by Ed Reynolds, or any other party. I'm merely suggesting discussing some sort of Plan B in the event the negotiations of the others falls through. Again, my only motivation here is to not end up seeing pictures on the Forum of an excavator with thumb loading big trucks with NOS-parts-turned-debris.

I invite Ed, or other possible unknown suitors, to e-mail me if you feel a meeting of this type might in some way jeopardize your negotiations. Naturally, that would be taken under advisement.


Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

Canadoug
06-30-2009, 07:15 PM
Let me see if I understand this correctly.

I am not a banker . But I think I know how a bank operates.

IF ..I repeat IF ...the facts have been presented correctly ,

a financial institution has provided a large business loan
to a vendor of rare automotive parts. This Vendor has been
succesfully selling the rare stock for over 40 years.

IF .. I repeat IF..the facts have been presented correctly ,

the successful vendor ...has business lease problems ...and has
to relocate to another business location ...A common business problem.

IF ...I repeat IF...the facts have been presented correctly ,

the successful vendor is nearing retirement age ...and does not
have the desire to continue. Who cannot understand that ? Or find
fault with this decision ?

That said.

IF ...I repeat IF ...the facts have been presented correctly ...

The ''Bank/Lender'' is the OWNER OF THE INVENTORY.Not the Vendor.

The Bank cares not if the business owner decides to firesale the
inventory , sell the inventory to another vendor , or throw everything into the garbage. The Bank wants the PRINCIPAL funding repaid in FULL. These people are not fools...they will extract the gold teeth in your mouth ...not to mention your house, cars , and anything they can sell of yours. And they will.

IF ...I repeat IF ..the facts have been correctly presented.....

the Bank/Lender will monitoring this drama as it unfolds ....and they will be taking steps to protect their investment.

What's my solution you ask ?

It's simple. It's called HOBSON's Choice.

HOBSON's CHOICE is also called NO CHOICE.[}:)]

The SASCO inventory must remain in South Bend , in a new location ,with current or new management.

That's my 2 cents ...IF ..and I repeat IF ..the facts have been correctly presented....[B)]

StudeRich
06-30-2009, 07:28 PM
Sounds exactly like the facts as we Know them, except I have not heard of this "must remain in South Bend" issue before! [:0]

I don't think the Bank cares where their stuff is, as long as they know!

Given the City's History of not caring about Studebaker artifacts, that would be the LAST place a Studebaker Parts Business Operator would want to be! [xx(]

StudeRich

Swifster
06-30-2009, 07:38 PM
Bob is looking at the same problem I have. December 31st is too late. And considering the drop dead date, September 30 may be too late. The parts have scrap value and the bank could simply cut it's losses. If the business is incorporated, none of Dennis' personal property would be endangered unless it was used as collateral. This stuff is too important to leave it to two guys playing financial chicken. JMO.

---------------------------------------------------------------------------------------------------
Tom - Mulberry, FL

1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2125.60)

1964 Studebaker Commander 170-1V, 3-speed w/OD (Cost to Date: $623.67)

http://i74.photobucket.com/albums/i280/Swifster/The%20Daytona%20File/Avatar%20Size/01-01-05TheStartingPoint.jpg http://i74.photobucket.com/albums/i280/Swifster/The%20Daytona%20File/Avatar%20Size/07-17-07FrontClipRemoved.jpg http://i74.photobucket.com/albums/i280/Swifster/The%20Daytona%20File/Avatar%20Size/08-06-29.jpg

Dick Steinkamp
06-30-2009, 07:38 PM
quote:Originally posted by Canadoug


What's my solution you ask ?

It's simple. It's called HOBSON's Choice.

HOBSON's CHOICE is also called NO CHOICE.[}:)]

The SASCO inventory must remain in South Bend , in a new location ,with current or new management.




I think that would be a good alternative for the bank...but not the ONLY choice.

Why South Bend only? The bank would not allow the inventory to leave SB?

Why current or new management (actually having two alternatives eliminate the Hobson's Choice argument)? What if it was split up between 2 or more parties? 10 parties...20 parties? If the bank recovered the loan amount, why would it care how many parties ended up with a portion of the inventory?







Dick Steinkamp
Bellingham, WA

http://i706.photobucket.com/albums/ww63/dstnkmp/pics075-1-1.jpg

bams50
06-30-2009, 08:55 PM
UPDATE:

Just got off the phone with Ed Reynolds; good conversation. He tells me that negotiations regarding this situation are alive and well. The bank has taken an active role in the negotiations, and IS committed to work out a situation that is agreeable to all parties involved. Based on my own experience, this bodes very well for a successful transaction; and IMO the best possible scenario!

As you can understand, these negotiations are somewhat delicate right now; so everything can't be told yet; but let me say it "feels" good to me. Ed may or may not comment here due to the nature of the negotiations; but he asked me to pass this along:

The SDC membership meeting at CeRap is on Tuesday, July 14, starting at 7:00 PM. Due to the significance of this situation, Ed will speak about it at the meeting, and is willing to answer questions there. He encourages interested parties to attend.

In light of this, I think it might be preferable to postpone any meeting in deference to the aforementioned negotiations. Instead let's keep a positive thought for all involved, and see where it goes for now. If Ed tells us his negotiations are dead, I stand ready to rekindle this idea.

Thank you all that offered ideas, encouragement, and your willingness to get involved; and for the experienced folks who took the time to write with perspectives and advice. I do believe, one way or another, the remnants of Studebaker manufacturing WILL survive, for the future benefit of us all!

Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

Rich
06-30-2009, 09:21 PM
Obviously, the best scenario is for Ed Reynolds or some other "for profit" enterprise to make a deal and purchase all the current SASCO inventory. I don't know why or if that may not happen, but it is prudent to have a back up plan formulated....just in case. Due diligence from this forum and the SDC should make it known to the interested parties (SASCO, the City of South Bend, SASCO's bank, etc.) that they do not want the inventory scrapped and before any action is taken that may lead to scrapping, the SDC would like the opportunity to purchase and remove the inventory. It that ever happens, the SDC needs a contingency plan BEFOREHAND. To wit, may I make the following suggestions:

1. The SDC should contact SASCO and advise they have an interest in saving the inventory if all other negotiations should fail, even if that means dealing directly with the bank.
2. The SDC should prepare a contingency plan, along with interested parties (probably other current vendors like Ed) in case it comes down to imminent destruction of the parts. Whatever the scrap value is, I've got to believe a private vendor would pay above that - which would appeal to the bank.
3. The SDC or any interested party needs to ask what the City and the Bank will do if the SASCO loan is defaulted - that process needs to be understood. The timeline may be critical.
4. The SDC needs to have a warehouse and volunteers with vehicles ready on short notice - just in case the worst case scenario plays out.
5. I'd suggest the SDC Board talk to a Lawyer with experience in this area.

It may be that not all the inventory NEEDS saving.

These are suggestions for the SDC as a non-profit entity speaking for it's membership. Of course, any private party may have the same considerations, but this forum is not for that purpose - unless someone comes forward and makes a proposal asking for volunteers and/or money, space, etc.

As stated, the bank only wants it's money or eventually as much of it as it can recover. The City wants the land and may put a No Trespassing sign up on Jan 1, regardless of what's inside. The bank would have to get an injunction to remove the inventory (or otherwise get permission).

This speculation is only if a deal is not struck by someone else to purchase the whole inventory intact. If the SDC became involved, one person should be appointed as the manager and point person. That may involve getting volunteers to either guard or act as salesmen for the inventory (perhaps as the SDC Board's approval). If the SDC became involved, it would probably mean a cost to the association. I wonder how the membership would view such an expense.

I would hope that any in person meeting would end up publishing a list of concerns that come up. There are a lot of smart people on this forum and having input on pros and cons could prove beneficial.

Thanks for listening.
Rich


Richard Morris
Renton, WA
64 Avanti R-1 #5367
90 Avanti 4-door #78

showbizkid
06-30-2009, 09:38 PM
Bams, thank you for jumping into the breach here. This is a good discussion and hopefully will unjam some logs. Also, thank you for getting the word from Ed. Half of our nervousness comes simply from not knowing what's going on. Certainly, none of the parties involved owe us any blow-by-blow account, but it sure does allay a lot of fears simply to know that action is being taken.


[img=left]http://members.cox.net/clarknovak/lark.gif[/img=left]

Clark in San Diego
'63 F2/Lark Standard
http://studeblogger.blogspot.com
www.studebakersandiego.com

BobGlasscock
06-30-2009, 09:51 PM
The report that Ed, Dennis, and the bank are conversing is very good news indeed.

The reason I suggested Dennis be present is because the inventory belongs to him through a lein liability to the bank. Which I think gives him priority in making decisions about the OUTCOME of his divestiture and his credit. A group of the best well wishers on the planet could come up with an idea which he might not come close to accept. Since he is the owner, the idea would then be worthless. Let him in to guide the ideas to a solution he could accept and present to his bank for the best financial solution for all.

The law where I live makes no distinction between a sole business owner and the business. Therefore, the INVENTORY is ME. No separation. You don't save one without the other. I don't know Indiana law, but I'm sure Dennis and the bank do.

All I am very politely saying is this: If people want to help me, I would like to be able to let them know HOW they could help me.

'50 Champion, 1 family owner
http://i251.photobucket.com/albums/gg316/studebakerbob/SDC%20avatar/Studebakerstuff019.jpghttp://i251.photobucket.com/albums/gg316/studebakerbob/SDC%20avatar/Studebakerstuff018.jpg

58PackardWagon
07-01-2009, 12:04 AM
I think there are plenty of options but these take time to put together. Four options that come to mind; a current vendor buys everything, a group of individuals form a partnership and buy it, current larger vendors come in and buy what they want and the remaining parts go to auction and scrap or I win the lottery and I am the new owner. Either way, someone or a group needs to take a risk. I think the two top things needed today are time and a good attorney. I work for a very large corporation and if there is one thing that I have seen first hand in my many years with this company.....if you want to slow something down (almost to a standstill) bring an attorney into the picture. I do not know anything about Sasco's lease, but if you are being pushed out of a building (eminent domain) Federal Protection Laws come into play to ensure fairness and proper compensation. And if you are not being given enough time to vacate (forcing one out of business) I am certain that another laundry list of laws could come into play. Are there any Studebaker loving attorneys out there that could tie this up for a year at a highly discounted rate? This type of a gain in time would allow better chances for a great survival and a better return on the dollar for the Dennis and Denise.

57 & 58 Packards and Larks

Canadoug
07-01-2009, 12:26 AM
Thanks for your reply Dick. Bellingham is one of my favourite road trips. Esp. the Chuckanut drive. I forget the name of that State Park on the ocean . But not how nice it is.

Back to the topic.

Do you agree with this ?

In my neck of the woods , this is how banking-loans work.

You decide to buy something.Something expensive. Anything LESS
than expensive , they will tell you to charge it to your credit card.

The Banks-Lending people here are NOT interested in small loans.

So let's say I decide to purchase a new car or boat. First step is to PROVE that I am able to repay. THIS IS UNIVERSAL .

Second step is to provide a percentage of the purchase ie.as a show of good faith. THIS IS UNIVERSAL.Have you ever heard of someone getting 100% financing ? I sure haven't.

Third and MOST IMPORTANT , it is a well known and accepted condition that the LENDER is considered-by Law - as the owner of the chattel
until the loan is satisfied in full.

If anybody out there in Studebaker Land knows anybody that will lend large sums of money without any of the above conditions ......
Send me the dumbass' name and number!

That said .

The above conditions are always applied.

So if .

I buy a car. I decide I have to sell it. I can't find a buyer or a family of 25 to buy it at my asking price.So I take it to the wrecker who gives me 4 cents a pound.I get $ 35. [ I didn't do the math ....but you get it ..]

What do I do ? Call the Bank and tell them to forget about those thousands of dollars I owe them ? Here's 35 bucks , Mr.Banker .

Uh.... I don't think Mr. Banker will be too pleased.

You may find yourself living in a cardboard box ..in record time.


As per HOBSON's Choice , I actually like Hobson's Choice.

When there is only one way to go.....there can be no second guessing.

In this business scenerio ...it appears the business is moderatley profitable ....and judging by the interest shown ...has potential to continue.

The fly in the ointment seems to be the transporting of the parts. Heavy automobile parts. Thus I suggest that the inventory be moved as near as is possible . And that is ..ta da ...South Bend.

In this current economy....there must be landlords BEGGING to rent vacant spaces.

But this is IF ...and I repeat IF ...the information supplied is correct.

I really hope that update from BAMS50 is the solution.

Dick Steinkamp
07-01-2009, 09:06 AM
quote:Originally posted by 58PackardWagon
I do not know anything about Sasco's lease, but if you are being pushed out of a building (eminent domain)...


Bob Palma posted in one of the other threads on this subject that it is NOT a case of being pushed out. The 10 year lease is up in December of this year. Either party has the option of not renewing. The city chose not to renew.

Lawyers could still probably tie it up, but who would be paying them to do so?

Dick Steinkamp
Bellingham, WA

http://i706.photobucket.com/albums/ww63/dstnkmp/pics075-1-1.jpg

Dick Steinkamp
07-01-2009, 09:12 AM
quote:Originally posted by Canadoug

Thanks for your reply Dick. Bellingham is one of my favourite road trips. Esp. the Chuckanut drive. I forget the name of that State Park on the ocean . But not how nice it is.

Back to the topic.

Do you agree with this ?




Larrabee State Park. Great place!

http://tinyurl.com/lgm4on

I agree that your scenario is logical. It's just that it is not the ONLY one that is and, hence, is not a Hobson's choice.

Dick Steinkamp
Bellingham, WA

http://i706.photobucket.com/albums/ww63/dstnkmp/pics075-1-1.jpg

BobPalma
07-01-2009, 09:54 AM
:) Thanks for doing all this background work, Bob/Bams50. I wish I had something prescient to add, but I don't.

Thank you, too, for setting up a meeting. I'll plan to be there. Where will it be? :DBP

HawkGT
07-01-2009, 12:22 PM
Kudos to all for a good discussion on this. GREAT that you talked with Ed, Bob (Andrews), and REALLY great to know that negotiations are continuing. :) I guess a decision to have a special meeting on this at Cedar Rapids and/or to appoint a special SDC committee could be made as late as during the discussion at the Membership Meeting, depending on the situation at that time.

If it turns out that we should immediately get started on a "Plan B" at that time, the suggestions made by Rich Morris are a terrific start.

Gene Nagle
1963 Hawk R1

JDC
07-01-2009, 01:10 PM
If it stays in the area, consider me an employee to whomever buys it.

JDP
07-01-2009, 02:02 PM
I just spoke to Dennis and wanted to clear up some facts. As far as Dennis knows, there are in fact two parties that have expressed a interest in the parts, and that's about all that has happened so far. No letter of intent, no cash changing hands just some negotiations, but nothing approaching a done deal.
The last thing Dennis needs now if for folks to believe all the parts will be saved and stop buying when in fact, that is far from certain.

JDP/Maryland

bams50
07-01-2009, 06:20 PM
quote:Originally posted by BobPalma



Thank you, too, for setting up a meeting. I'll plan to be there. Where will it be? :DBP


Thanks all. Given that there are currently negotiations ongoing with at least one or two parties, I think it might be best to hold off on an actual meeting for now. Instead I intend to be at the membership meeting on Tuesday to hear from Ed, and see what develops. The main goal is to avoid stepping on anyone's toes- Dennis, Ed, the bank, or other possible suitors. We all are hoping for a workable solution for all involved.

JP is right though- until documents are signed, nothing is certain; and SASCO is still doing business; so let's continue supporting them and placing those orders!

Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

okc63avanti
07-01-2009, 06:30 PM
I would prefer for this inventory to end up in the hands of a Studebaker vendor, but if none are capable of doing a deal are there other companies out there that might have the means to do a deal. Like JC Whitney or some other antique parts provider?

Just a thought...

<div align="left">John</div id="left">

<div align="left">'63 Avanti, R1, Auto, AC, PW (unrestored)</div id="left">
http://i429.photobucket.com/albums/qq16/okc63avanti/63StudebakerAvanti-1.jpg

mdelapp
07-02-2009, 06:51 AM
I have followed somewhat the SASCO issue. If SASCO is a profitable operation, might it still be profitable in another location? Assuming it is a proftiable operation, why would not SASCO just look for another facility to operate out of. It will be the same or less cost to move the inventory from the current locaion to a new location as it would to move the inventory to more than one vendor at various locations.

I have read SASCO's offer to sell off segments. Maybe they might respond to moving the operation. If this operation is only marginally profitable, they good will efforts will not make it profitable.

If it is maybe a group of investors might just buy a facility and lease the space to SASCO so they would have a new place to operate



http://i81.photobucket.com/albums/j231/druefer/Stude4.jpg

41 Frank
07-02-2009, 07:19 AM
The answer is very simple, the owners don't want to go through another move. The expense to move the inventory will be very high for one thing and Dennis at his age does not want to move it again and frankly the finances to move it aren't there. The company is heavily in debt as it is.



quote:Originally posted by mdelapp

I have followed somewhat the SASCO issue. If SASCO is a profitable operation, might it still be profitable in another location? Assuming it is a proftiable operation, why would not SASCO just look for another facility to operate out of. It will be the same or less cost to move the inventory from the current locaion to a new location as it would to move the inventory to more than one vendor at various locations.

I have read SASCO's offer to sell off segments. Maybe they might respond to moving the operation. If this operation is only marginally profitable, they good will efforts will not make it profitable.

If it is maybe a group of investors might just buy a facility and lease the space to SASCO so they would have a new place to operate



http://i81.photobucket.com/albums/j231/druefer/Stude4.jpg

DEEPNHOCK
07-02-2009, 07:44 AM
Now don't take this wrong, but.....

This is a Mobius strip conversation.....
http://www.instructables.com/files/deriv/FOW/7LVV/N3YEWZM4WXY/FOW7LVVN3YEWZM4WXY.MEDIUM.jpg

Almost all of these post's have been seen in one form or another in the last go around on various forums.

Those capable and interested are already in conversation.

Bleacher seat speculation can hurt those negotiations.

Sure, losing all those parts is traumatic.

Yes, YOU ALL can do something about it today.

Go buy something from them.

Unless you have the hutzpah to actually form a valid fiscal consortium in the next 60 days, and then arrange labor/transportation/storage for a massive move with serious time constraints, all the chatter is just that....

(This is NOT directed at you BAMS... It is just that it all is a re-run)

The most visible consortium attempt netted about $15k in 'pledges', and was almost immediately dropped.
This crowd is not conducive to spending money, especially their own money (me included)..

A big meeting at the IM would accomplish what?
It would be a social gathering with a singular topic.
That in itself is OK, but what would the ultimate end result of the conversation be?
Probably just a singular agreement from those able to attend that something should be done.
Well, there you go... Back to the beginning again.

I think the best most can hope for is to see the process go through and that a viable business venture will buy the inventory [u]with the intent to continue selling NOS parts.</u>
(No guarantee out there that a scrap metal merchant doesn't buy it all by the pound...)

Beyond that, the best would be to get the opportunity to run in and pick the scraps for a few days before it really gets scrapped.
(and even at that, there would probably be only a hundred people that would make the trip, and they would just show up with a car hauler trailer and pick up stuff they could carry by hand..)

This is not a rant, but a realistic observation.

I would really hate to see a forum change the tone for investors and financiers in the middle of a negotiation.
Think about that.
If you are an entrepreneur, you are going to make your speculative investment based on information you glean.
If your main potential customer base has a track record of talking without buying (forum talk vs actual purchase history), it could affect your decision.

It seems that for every ten posts tossed up on the forum(s), there has to be at least one phone call made to the actual parties involved to corroborate or deny the information posted.

Most delicate negotiations are done in private for a reason.
This one should be no different.

Now, hopefully the parties involved will be forthcoming with factual info as it can be disseminated, as we all have a common interest in the parts due to their historical nature.

Again... I am NOT complaining.
Just setting here scratching my head at all the hand wringing.
Let's just get out there and do what we can, and help where we can.

Talk is cheap.
So are we all.
(That's why we are so good at it;))
Jeff[8D]

jclary
07-02-2009, 07:54 AM
Good morning Jeff.:)MAN! Deep thought from Jeff! :DI agree...and let me just add...I am very happy its just your head you are scratching!:):):)

BobPalma
07-02-2009, 08:08 AM
:) Well stated, Jeff. Good thoughts. I really believe the sheer magnitude of the parts and the labor intesity required to move them are the limiting factors. 'Tough to get around. :DBP

toyman
07-02-2009, 09:33 AM
In my humble opinion, all the viable parts are located within 300 feet of the parts counter at SASCO which could be moved by a small army of workers in a week or two. The balance, including the entire second floor, should just be junked.

toyman

raoul5788
07-02-2009, 12:42 PM
The second floor is where I found the overlay panels for my '57 Packard wagon!

Chip
'63 Cruiser daily driver
'57 Packard wagon on the road!

bams50
07-02-2009, 01:34 PM
Jeff, thank you for trying to be "supportive", but again you're making several assumptions:

First- Those capable and interested are already in conversation. I'm not, and I consider myself both.

Second- This crowd is not conducive to spending money, especially their own money I was surprised at how many people were willing, and contacted me- not to spend a few grand on a guess at what they might need in the future, but serious pledged amounts.

Third- Probably just a singular agreement from those able to attend that something should be done. Again, wrong guess. The idea was to brainstorm for thoughts to go into the plan I was formulating.

Fourth- This is NOT directed at you BAMS... It is just that it all is a re-run. I started the thread, so how is it not directed at me? After all, you wrote me off in #1, and decided I was just re-running something; even though there's never been a situation like this, or anyone else trying to do what I was.

What exactly is your goal here? You start with "Now don't take this wrong", which says you know you're writing something that's not going to be productive; so, why? You say "I'm NOT complaining", which means you actually are- or your post would have been supportive instead of critical. Hopefully it accomplishes something... I just missed it.

I have joined you on the rail and am suspending my efforts in deference to the process underway based on actual conversations with involved parties; I agree 100% with not wanting to harm the others' negotiations.

As I've said repeatedly, I'm hoping for a workable solution for all parties, and the parts; even though I know "hope" is just an excuse to not do anything. I know I've got my fingers crossed and hands wringing, and no obscure references like "Mobius" to offer;)

Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

DEEPNHOCK
07-02-2009, 02:03 PM
We have been through this converstion before, too.
Before you were active here on this SDC, but before as it relates to SASCO when it was threatened because the building was condemned for the police station project.
We energized the Studebaker base when the parts were threatened the first time.
Thousands (well, maybe hundreds) of letters were written to politicians, and the city changed its stance.
After that effort, there were volunteer groups that went to South Bend and volunteered their time to help move the parts to where they are now.
My comments were based on actual past experience.
You may take exception to what I wrote, but those comments are based on reality.
Go ahead and prove me wrong.
I welcome it.
This same conversation has happened before too, just with different names and faces.
Maybe before the SDC forum materialized, but it happened on the Internet regarding SASCO.
I just feel that too much SASCO forum churn will not truly help the current SASCO negotiations.
I am not trying to debate you, and said so in my original post.
I will respond to your post as best I can, but I have no desire to debate the subject of SASCO....
I just want to not see all the SACO post's end up hurting SASCO instead of helping it.
And that is something that could potentially happen, and it why my post was written.
It was not written as a dig at any one person, but more of a cautionary mention that unintended consequences have a way of frothing up on this (or any) forum.
Your decision to 'suspend' your activities and stand by the rail are because you were contacted by the involved parties because of what you posted.
The point of my post was that we can be supportive of the current business, without openly speculating on it's expansion, movement, or demise.
I am plum full up to my ears of 'hope'.
That won't keep that business running.
Mobius was the perfect metaphor, and still is.
Obscure? No. It is what it is.
Sorry if you disagree.
I will leave it at that.
Jeff[8D]


[quote]quote:Originally posted by bams50

Jeff, thank you for trying to be "supportive", but again you're making several assumptions:

First- Those capable and interested are already in conversation. I'm not, and I consider myself both.

Second- This crowd is not conducive to spending money, especially their own money I was surprised at how many people were willing, and contacted me- not to spend a few grand on a guess at what they might need in the future, but serious pledged amounts.

Third- Probably just a singular agreement from those able to attend that something should be done. Again, wrong guess. The idea was to brainstorm for thoughts to go into the plan I was formulating.

Fourth- This is NOT directed at you BAMS... It is just that it all is a re-run. I started the thread, so how is it not directed at me? After all, you wrote me off in #1, and decided I was just re-running something; even though there's never been a situation like this, or anyone else trying to do what I was.

What exactly is your goal here? You start with "Now don't take this wrong", which says you know you're writing something that's not going to be productive; so, why? You say "I'm NOT complaining", which means you actually are- or your post would have been supportive instead of critical. Hopefully it accomplishes something... I just missed it.

I have joined you on the rail and am suspending my efforts in deference to the process underway based on actual conversations with involved parties; I agree 100% with not wanting to harm the others' negotiations.

As I've said repeatedly, I'm hoping for a workable solution for all parties, and the parts; even though I know "hope"

warrlaw1
07-02-2009, 02:57 PM
I couldn't get a response from SASCO when I was willing to buy parts. I find that enough of a discouragement to try again. I'll pledge $1000 to any SDC sanctioned non-profit effort to save the inventory. If there are a hundred like me, that's enough of a downstroke to finance an inventory that should go really cheaply if no one else steps up. Let the bank take a hit and the city, too. I have not met Dennis and I wish him all the best. I've spent tons with Ed and other vendors and I like 'em and the services they provide. I'd like that inventory to be around for future generations. Hope they get it, but if not, take my money, please.

JDP
07-02-2009, 04:28 PM
quote:Originally posted by warrlaw1

I couldn't get a response from SASCO when I was willing to buy parts. I find that enough of a discouragement to try again. I'll pledge $1000 to any SDC sanctioned non-profit effort to save the inventory. If there are a hundred like me, that's enough of a downstroke to finance an inventory that should go really cheaply if no one else steps up. Let the bank take a hit and the city, too. I have not met Dennis and I wish him all the best. I've spent tons with Ed and other vendors and I like 'em and the services they provide. I'd like that inventory to be around for future generations. Hope they get it, but if not, take my money, please.



If the inventory could be bought for 100K, we would not be having this discussion.

warrlaw1
07-03-2009, 08:22 AM
Sorry JDP, but you have to understand what a downstroke is and what leverage is. In my world $100,000 cash levers to $1 Million. The sky is still blue in my world, too (lol).

DEEPNHOCK
07-03-2009, 11:57 AM
Have you ever tried to finance loose, small, non serial numbered inventory?
Few lending institutions will touch that liquid an asset.
And getting a loan as a non-profit (sanctioned or not) is just as hard, if not harder.
But, I am not in your world, so I would like to hear about who would lend that kind of money out.
And getting the SDC blessing does what for this?
Just curious, as that is a pretty different angle on it all.
The SDC is an enthusiast 'club' that does very specific things with it's membership revenues.
I am not clear as to what the purpose would be of (the SDC) going into the parts business as competitors to their current ad revenue paying vendors.
But, I am not on the board, so it would just be a guess at best.
Again, saving the parts is one issue.
The who and how and how the various forums can help is the issue.
A white knight would be great.
Then, the minute his (or her) transaction (and move) was completed, and the price of every part quadrupled....
Then I want to hear all about that.
Jeff[8D]



quote:Originally posted by warrlaw1

Sorry JDP, but you have to understand what a downstroke is and what leverage is. In my world $100,000 cash levers to $1 Million. The sky is still blue in my world, too (lol).

warrlaw1
07-03-2009, 01:06 PM
Well, Jeff, just so we're clear, if there is a purchaser other than a salvage dealer, I would be happy, too. I'm not sure what your interest is, but I'll assume it's the same as mine and the others who would want to save the inventory from a crusher. If there is no purchaser other than a salvage dealer, I assume the bank would call it's security and Dennis would have priority behind any other secured creditor. Any creditor could force the corporation into bankruptcy and the assets would be sold to the highest bidder by the court appointed trustee. The court would have to approve the sale of any assets under protection. Depending on the debt ratio, I doubt any entity other than the bank would see a cent, and the bank would probably not recover their full investment. They don't care. The inventory would be assessed for scrap value plus. If there was an equity pool of $100,000 and a "plan" (similar to a business plan) but put forth by a group of like minded volunteers, then you re-approach your lender to see what kind of leverage and terms are available. Any bid in a bankruptcy proceeding would need to be researched, but I think you get the idea. If not, you can't be trying :) JDP doesn't seem to want to get it either, but that's OK with me.

bams50
07-03-2009, 02:31 PM
quote:Originally posted by warrlaw1

If there was an equity pool of $100,000 and a "plan" (similar to a business plan) but put forth by a group of like minded volunteers, then you re-approach your lender to see what kind of leverage and terms are available.

Almost exactly what my accountant said of this situation. I won't elaborate in the interest of current negotiations, but that is exactly what I was thinking in a nutshell; thank you for making it clearer. Are you a CPA, or maybe an attorney? Clearly you have the knowledge.

I just can't get the idea of throwing cold water at those actually trying something, and doing so while making several assumptions based on guesses- like assuming one was "called off" by others, when the opposite is the reality? I guess it's just not having any faith in the individual spearheading a plan (me in this case), which is understandable if one does not know said individual. Just seems more prudent to sit and wait for the failure with the "I-knew-it" at the ready, in the off chance the unknown individual might pull something off. But as the saying goes, TEHO...

Definitely, chances are I can't make this happen; but I'm willing to think and try- which is what the idea of a Plan B was about all along. All the best to Ed R. and any others capable and interested!

Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

warrlaw1
07-03-2009, 02:56 PM
Just a small town lawyer, Bob, who appreciates preparation. Your next divorce is on the house (lol).

DEEPNHOCK
07-03-2009, 04:02 PM
So that position is downstream of any outright purchase.
I understand the liquidation aspect and the secured, and unsecured creditor aspect.
But that is a last line in the sand position, isn't it?
Jeff[8D]


quote:Originally posted by warrlaw1

Well, Jeff, just so we're clear, if there is a purchaser other than a salvage dealer, I would be happy, too. I'm not sure what your interest is, but I'll assume it's the same as mine and the others who would want to save the inventory from a crusher. If there is no purchaser other than a salvage dealer, I assume the bank would call it's security and Dennis would have priority behind any other secured creditor. Any creditor could force the corporation into bankruptcy and the assets would be sold to the highest bidder by the court appointed trustee. The court would have to approve the sale of any assets under protection. Depending on the debt ratio, I doubt any entity other than the bank would see a cent, and the bank would probably not recover their full investment. They don't care. The inventory would be assessed for scrap value plus. If there was an equity pool of $100,000 and a "plan" (similar to a business plan) but put forth by a group of like minded volunteers, then you re-approach your lender to see what kind of leverage and terms are available. Any bid in a bankruptcy proceeding would need to be researched, but I think you get the idea. If not, you can't be trying :) JDP doesn't seem to want to get it either, but that's OK with me.

warrlaw1
07-03-2009, 04:25 PM
That's the idea, Jeff, but it won't come to that. If I were hoping to score an inventory coup, I would find a way to force a b'ruptcy and go make a deal with the trustee. Happens all the time and I'm sure Dennis, Ed and all those interested are crunching numbers like crazy and considering who would get hurt if they did that. Studebaker people I've known seem to have heavy consciences and don't like to leave a debt unpaid. I'm guessing that's what's going on, but a show of strength for a plan B is good preparation if a court gets antsy about a less than arm's length deal. I once had a client who b'rupted his business just before a divorce. He agreed to pay huge interim spousal support if wifey agreed to declare b'ruptcy with him. After the bankruptcy he sent his g'friend to the trustee to buy back all his equipment. Then he wanted me to go back to court to lower the spousal support cause he didn't have his business anymore! There are certain things even a lawyer won't do :). If it gets to that point, having $100,000 committed to a non-profit trust account should stop the crusher. That's Bob's plan and it would be consistent with the purposes of a non-profit corporation like SDC. A non-profit is not a charity. They are allowed to have equipment and inventory and pay salaries. Just at the end of the year, the corporation can show no profit. They can repay share-holder loans, though. Just a few thoughts. SASCO hasn't got much left for my current Stude, but I might find another that needs just those parts.....

DEEPNHOCK
07-03-2009, 04:35 PM
Thank you for the clarification.
Jeff[8D]


quote:Originally posted by warrlaw1

That's the idea, Jeff, but it won't come to that. If I were hoping to score an inventory coup, I would find a way to force a b'ruptcy and go make a deal with the trustee. Happens all the time and I'm sure Dennis, Ed and all those interested are crunching numbers like crazy and considering who would get hurt if they did that. Studebaker people I've known seem to have heavy consciences and don't like to leave a debt unpaid. I'm guessing that's what's going on, but a show of strength for a plan B is good preparation if a court gets antsy about a less than arm's length deal. I once had a client who b'rupted his business just before a divorce. He agreed to pay huge interim spousal support if wifey agreed to declare b'ruptcy with him. After the bankruptcy he sent his g'friend to the trustee to buy back all his equipment. Then he wanted me to go back to court to lower the spousal support cause he didn't have his business anymore! There are certain things even a lawyer won't do :). If it gets to that point, having $100,000 committed to a non-profit trust account should stop the crusher. That's Bob's plan and it would be consistent with the purposes of a non-profit corporation like SDC. A non-profit is not a charity. They are allowed to have equipment and inventory and pay salaries. Just at the end of the year, the corporation can show no profit. They can repay share-holder loans, though. Just a few thoughts. SASCO hasn't got much left for my current Stude, but I might find another that needs just those parts.....

bams50
07-04-2009, 02:20 PM
quote:Originally posted by warrlaw1

Just a small town lawyer, Bob, who appreciates preparation. Your next divorce is on the house (lol).


David, thank you for making the effort to explain the concept here; much better than I was willing- or able. Also, thank you and a few others for your forward thinking, which is of course the better course of action; and how I try to live. Let's hope Ed or one of the others can get this deal made; or if not, we'll get back to work on a Plan B.

And if my Studebaker love should require it in the future, I'll keep in mind your above offer;)

Edited to add a twist on a pertinent quote I inadvertently omitted:

All it takes for bad results to triumph is for good men to stand by and do nothing.


Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

Ralphie
07-05-2009, 06:12 PM
I am a bit pressed for time right now, so I didn't take the time to read the entire thread, I'm afraid.
Therefore this suggestion may have been allready been posted by somebody else,
However, in case it hasn't, I would like to mention the following:

Quite some years ago, a storeage of NOS parts etc from a company closing down(here in Norway, were I live) was bought by a club and/or a coalition of classic car enthusiasts in order to save all those parts/to prevent the parts ending up "in a ditch".
The parts then became a part of the clubs property. Whenever a member would need a part, he could buy it from the club at a "cost-prise"/a (next to)non-profit prise.
Other people/non members would either have to become members, or they had to pay more as non-members if they wanted any of the NOS parts.

Most probably, the SASCO inventory is MUCH bigger than the Norwegian inventory I mentioned.
On the other hand the SDC is also a pretty big club...
Would it be realistic to have some of the administrators in the club to organize a joint rescue operation in a similare way to the above-mentioned..?
What if all the members "chipped in" and all the parts became the club's property, and then the members( or others for a higher prise) could buy the parts later, when they needed them, or something similare..?
Am I believing in Santa..? - Probably. It just hurts me to think that a lot of perfectly good parts from a fabulous, yet unfortunayely extinct, car manufacturer may now be lost forever...

"There are two speeds in life - flat out and faster"(Burt Munro)

1953 Starliner("hot rod" project)
1953 Regal Commander Starlight Coupe(original).

http://i266.photobucket.com/albums/ii248/Superformance1/Nylakkaforan-1.jpg

http://i266.photobucket.com/albums/ii248/Superformance1/PrveturSouthPointOH-1.jpg

T-CAB
07-05-2009, 07:21 PM
This is slightly off topic, however it would be nice to see a magazine such as Collectible Automobile or Hemmings Classic Cars do a full length article with lots of pictures of the SASCO operation. As their closing realy means the end of Studebaker in South Bend (other than the museum.)

Turning wheels should also do a feature. I personally would like to see a video of all the parts that are left. For those like myself who live in another country it would be a real treat to see what is left. My son and I visited the old Newman and Altman operation in 1983 and SASCO in 2007. Really enjoyed looking at the old building and parts. I'm sorry that we can't make it down again before they close.

I just recently purchased a pair of 1964 4-door front doors, fender apron, grille, front valance and two rear quarters as my bit in saving some inventory.

T-cab

bams50
07-06-2009, 05:44 PM
Ralphie- Very good post, and good ideas from the situation you refernce in Norway. Something like that could be very workable here as well! Time will tell.

T-Cab, I like the idea of the story being published in major hobbyist magazines. Rich D. had put forth a draft of a press release a month or so ago; that was a great idea, but a full feature story would be even better! Anyone have connections/knowledge to get something like this published?

Be assured, there are still things going on behind the scenes, all with the original idea as the goal. Stay tuned- and concerned!

Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131
http://www.patrioticon.org/images/flag3-1.gif

T-CAB
07-06-2009, 06:49 PM
Bob:

I have email Collectible Automobile. Lets see if they follow up.

T-cab

avantilover
07-07-2009, 04:25 AM
Perhaps you guys could raise the cash to pay the scrap prices. Then you can save that stuff instead if it getting destroyed.

John Clements
Avantilover, your South Australian Studebaker lover!!!
Lockleys South Australia

FlyingAvanti
08-05-2009, 07:00 AM
Just visited SASCO this week. The place is HUGE. It goes on and on and on. The task to move this inventory would be unbelievable. All the door panels that consume thousands of square feet would be asshame to lose. I will try and post a few pictures of the interior of the building during the next week. The photos will make you sick when you see what is there. It would be a tragic loss......

It was sad to see the approximately 200 "front ends" of Studebaker Larks. Such history. :(

rockne10
08-05-2009, 07:14 PM
Studeski already posted these pictures but those of us who have never been there would love to see more.

http://www.studeski.com/sasco/sasco_tour.htm