Rodney Johns
03-17-2001, 06:19 PM
If you haven't heard here is the scoop. Denial is what you will get if you confront someone about this. Woods is as close to broke as a company can get. We are all in denial about this recession we have been in for over a year. Well it caught up with woods last month. Woods had a 50 Million dollar negative asset value. Translated came out to 10% layoffs in management and speculations of major layoffs in the plant very soon. They have hierd a guy to come in and save the company but I think it is too little to late. It comes from a declining repution and changes in the way they make there products. They have cut corners and began producing cheaper made equipment and unless this changes there is no recovery for this company. There is a possiblity that New Holland could buy them up if this has not already occuring. The problem is that Woods has picked up a lot of little junk satelite companys from what I hear. If they get rid of these companys New Holland will buy. I would hate to see it personally because New Holland has a good reputation and I feel like Woods would drag them down a little until they get this together. Woods has finally managed to get a $50 million loan to keep the doors open for a while but I think they are running on borrowed time. Plastic bushings, thin metal, new products not tried and true........You be the judge. I am only repeating gossip, but my sources are realiable and high in the industry. Be your own judge. I do not endorse nor discourage purchasing woods. JUST DO YOUR HOMEWORK> THIS IS NOT A LINE OF CRAP!