Spent two days at SASCO

[41 Frank]

We, meaning my partner in the little vending business we have and myself, made a run to South Bend with two pickups and two trailers and our wives and spent two days picking parts from about every nook and cranny there is in that building. It was hot and humid,roof leaks, and therefore some of the floors are wet. We came up with enough stuff to fill most of the space we had and did not buy any bulky stuff except some fuel tanks. When we finally realized we had spent way more than we had budgeted, after Denise added it all up, we swallowed hard and headed home this morning. I enjoyed every minute of it even though we got filthy dirty both days. I personally had never been back in there since all the stuff was moved even though we had spent several days there ten years ago helping with the move along with 5 or six other Chapter members. Wow there is a lot of stuff there including whole crates of stuff that would have been sitting on either side of the assembly line with various items in bulk. When we were all finished loading I took one last walk through both floors knowing full well I would never see that many Studebaker parts in one building ever again. Kind of sad really, but there is hope it won't all disappear meaning the things that are marketable will be saved but the sheer volume of stuff precludes all of it will be saved. One thing Dennis said was that, with one exception, other than us no other vendors have stepped up and bought a lot of stuff. In any event we did our small part to try and save some stuff. Lets hope the rest of it finds a new owner or owners.

Frank van Doorn
1962 GT Hawk 4 speed
1963 Daytona Conv
1941 Champion R-2 Rod

[Chris Pile]

Thanks for the report, Frank.

Chris Pile
Midway Chapter SDC
The Studebaker Special

[ChampTrucking]

Hey Frank,I hear ya and I feel ya.I got to spend a few days wandering thru it all,I even found a crate me and my friend packed when we helped with the move.It still had the right hand drive dashboard I threw in it.After all these years it STILL had not been unpacked.Wish I would have known and had time to meet you there.I still have a few items on my must have list,but I have worked 14 hours a day for the last 3 days! PHEW!
Gawd I hope someone saves most of that stuff,but I really hope Dave will have some sort of a job somewhere when it is all over with.

[41 Frank]

Yes Champ, I really feel for Dave and George. Dave spent quite a bit of time with us and helped us locate stuff and couldn't have been nicer. I had no way to get a hold of you or I would have Champ.

quote:Originally posted by ChampTrucking

Hey Frank,I hear ya and I feel ya.I got to spend a few days wandering thru it all,I even found a crate me and my friend packed when we helped with the move.It still had the right hand drive dashboard I threw in it.After all these years it STILL had not been unpacked.Wish I would have known and had time to meet you there.I still have a few items on my must have list,but I have worked 14 hours a day for the last 3 days! PHEW!
Gawd I hope someone saves most of that stuff,but I really hope Dave will have some sort of a job somewhere when it is all over with.

[studeski]

Did Dennis set up a pricing schedule for discounts yet? He's holding some parts for me.

Claude Chmielewski
Studeski

http://www.studeski.com

Fillmore, Wisconsin
47 M-16 Truck
62 GT Hawk
63 Lark
64 Commander Wagonaire
50 Champion Regal (parts car)
63 GT Hawk R2
[img=left]http://www.studeski.com/62hawk/62hawka/dakota01_250.jpg[/img=left]

[41 Frank]

Yes Claude there is a good discount in effect for vendors that buy in quantity, even more of a discount is in effect if you purchase all of an item. For instance, if you would want to purchase all of the 64 Daytona body mouldings, of which there are at least a thousand pieces and probably more, he would cut you a better deal. I will not disclose the current vendor discount because I don't think it is prudent to do so here. If you are just purchasing a few pieces I don't believe a discount applies. Dennis did relate that the vendor discounts are as low as they will get.

quote:Originally posted by studeski

Did Dennis set up a pricing schedule for discounts yet? He's holding some parts for me.

Claude Chmielewski
Studeski

http://www.studeski.com

Fillmore, Wisconsin
47 M-16 Truck
62 GT Hawk
63 Lark
64 Commander Wagonaire
50 Champion Regal (parts car)
63 GT Hawk R2
[img=left]http://www.studeski.com/62hawk/62hawka/dakota01_250.jpg[/img=left]

[studeski]

I was under the impression that a discount would apply depending on how much you spent which would be a different deal than what the vendors got. If I spend $1000 there I would like to see some kind of discount.

Claude Chmielewski
Studeski

http://www.studeski.com

Fillmore, Wisconsin
47 M-16 Truck
62 GT Hawk
63 Lark
64 Commander Wagonaire
50 Champion Regal (parts car)
63 GT Hawk R2
[img=left]http://www.studeski.com/62hawk/62hawka/dakota01_250.jpg[/img=left]

[41 Frank]

I don't blame you Claude for wanting a discount but I frankly don't know what kind of discount he would give.Best to give Dennis a call and ask,he is up front with things and will tell you straight up what to expect. In our case we spent well into five figures.

quote:Originally posted by studeski

I was under the impression that a discount would apply depending on how much you spent which would be a different deal than what the vendors got. If I spend $1000 there I would like to see some kind of discount.

Claude Chmielewski
Studeski

http://www.studeski.com

Fillmore, Wisconsin
47 M-16 Truck
62 GT Hawk
63 Lark
64 Commander Wagonaire
50 Champion Regal (parts car)
63 GT Hawk R2
[img=left]http://www.studeski.com/62hawk/62hawka/dakota01_250.jpg[/img=left]

[champ64]

I read Frank's post. If one ain't living local to SASCO it's hard to understand what is going on. So I post this. I have to preserve sources who gave me information to post but did not want to be identified, so I am not posting under my usual username.

Here are the candid facts regarding SASCO.

The lease is up at year end. The city of South Bend choose not to renew it per the option in the current contact. The city of South Bend has locally here put out lots of press release rumors that they offered to move SASCO to a empty K-mart building on Western Avenue or to some other location. To my knowledge, this was empty promises according to those at SASCO.

Upon hearing notification from the City of South Bend, Dennis has basically given up on efforts to move SASCO, Fight the city, or get an extention of time. According to Dennis, 'If I were 5 years younger, I'd try saving it, but trying now would kill me and I don't want to go there yet'.

Our SDC President Ed Renoylds, made attempts to save SASCO inventory and add it to his SI current business. Ed tried to make a deal with Dennis back in May. I'm friends with Dennis, but from what I heard and saw, Dennis is not being reasonable. From what I am told, Dennis wanted upward of 50 to 60 cents on the retail dollar for his parts inventory 'as is, where is'. There is a very substantial bank loan on SASCO. Some reports put it as high as 1.5 million, with the parts being collateral. If the parts go down with the building the bank looses. So, Mr. Renoylds and the bank were trying to make a deal. I do not know where this has went or is going.

If one is expecting Dennis to offer fire-sale prices, I wouldn't hold my breath. You might suffocate while waiting holding your breath. Dennis has told many people on the phone that "nobody is intrested in saving the parts as a whole, and sell what I can and scrap the rest". What he is trying to do is create panic (rightly so, since the future of our hobby depends upon parts), and hope he has a mad rush of orders and maybe somebody who steps up and buys the business at his asking price. Least I heard the asking price was roughly the amount of his bank loans on the business. So far since operating SASCO, Dennis has not been able to make any payments toward the principal, only has been able to pay intrest.

Dennis is trying to create panic by saying 'nobody will save us', when indeed several vendors including SI have made attempts. I think what will happen is he will try to hold out and get as many panic sales as he can and maybe get somebody to bite to 'rescue' his parts at the asking price. If that dosen't happen, well all family assets are now in Denise's name so he won't be responcible for collection of the bank loan if the parts go down with the building.

I've known Dennis, well, since the days of High School at Riley. But I feel it is only fair to the Sudebaker community as a whole to let the whole story be known.

[warrlaw1]

Sad business tale, for sure. Market value is what a willing buyer will pay and a willing vendor will accept. I'd love to be at the receiver's auction....

[41 Frank]

I asked Dennis about the possibility of an auction and his reply was that he had checked into it with a large Indiana auction co. whose name I won't mention. After sizing up the inventory their conclusion was that with the amount of stuff present the cost of holding an auction would about equal the proceeds.So not a good way to go.

[ChampTrucking]

Champ64, I hope you haven't ruined a friendship by posting this about your "friend". Ed R. probably won't be happy seeing his business aired out here either.There are many ways media and public forums can be used to sway thinking in one direction or another.

With roughly 6 months left till The End,maybe a bit of "panic" is in order? This isn't a "the sky is falling" story,it is sadly for real. In case anyone forgot,SASCO is a business in the business of doing business,for profit. Discounts have been offered but it IMO it's a bit foolish to expect inventory to be offered for a third of what it is worth IF someone is expecting that.

The hard part is determining WHAT some of it is worth. Harder is an individual determining what they can and can't live without in this economy. If the parts get scrapped they won't be worth crap,and will become invaluable at the same time. This is not the time for anyone to be posturing,it is time for action! Someone get off their azz and get something done! I only wish I had the CA$H necessary to save the stuff.

[JRoberts]

quote:Originally posted by ChampTrucking

Champ64, I hope you haven't ruined a friendship by posting this about your "friend". Ed R. probably won't be happy seeing his business aired out here either.There are many ways media and public forums can be used to sway thinking in one direction or another.

With roughly 6 months left till The End,maybe a bit of "panic" is in order? This isn't a "the sky is falling" story,it is sadly for real. In case anyone forgot,SASCO is a business in the business of doing business,for profit. Discounts have been offered but it IMO it's a bit foolish to expect inventory to be offered for a third of what it is worth IF someone is expecting that.

The hard part is determining WHAT some of it is worth. Harder is an individual determining what they can and can't live without in this economy. If the parts get scrapped they won't be worth crap,and will become invaluable at the same time. This is not the time for anyone to be posturing,it is time for action! Someone get off their azz and get something done! I only wish I had the CA$H necessary to save the stuff.

But isn't a third more than nothing. I mean if, and I guess at this point it is a big "if", Dennis is planning on scraping whatever doesn't sell by a certain date will he be getting more than 1/3 of its value?
This whole thing confused me last time we went through these theatrics and it still confuses me. I wish we know the whole story here. I just get the feeling something else is going on.











Joe Roberts
'61 R1 Champ
'65 Cruiser
Editor of "The Down Easterner"
Eastern North Carolina Chapter

[bams50]

quote:Originally posted by ChampTrucking

This is not the time for anyone to be posturing,it is time for action! Someone get off their azz and get something done!

I hear you on that, Rich. The question is, what exactly??

I've been thinking hard about this whole situation... look for a new thread from me later tonight...

Robert (Bob) Andrews- on the IoMT (Island of Misfit Toys)
Parish, central NY 13131

[studeski]

Frank, Thanks for the info. When Dennis said he was going to do mass emailing on specials you would expect a discount. Sometimes a buyer can be just as stubborn as a seller. In which case they both lose.

Regarding Ed and SI he had already posted his intentions here so that's old news.

Claude Chmielewski
Studeski

http://www.studeski.com

Fillmore, Wisconsin
47 M-16 Truck
62 GT Hawk
63 Lark
64 Commander Wagonaire
50 Champion Regal (parts car)
63 GT Hawk R2
[img=left]http://www.studeski.com/62hawk/62hawka/dakota01_250.jpg[/img=left]