I never even thought about it until you mentioned it. I'm not sure why. But I agree that putting another company's finances out in public is very, very bad. It shows a really bad side of STRC and I think I'm going to swear them off.
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HobbiCo / Great Planes / Tower Hobbies
- Thread starter JatoTheRipper
- Start date
I never even thought about it until you mentioned it. I'm not sure why. But I agree that putting another company's finances out in public is very, very bad. It shows a really bad side of STRC and I think I'm going to swear them off.
WHITE-TRASH
I wanna be Dave
Right, you'll be on here next year singing their praises just like when you swore off vp. :lmao:
Easiest way to keep your dirty laundry from being spread around is to take care of it yourself.
You'll get over it.
WHITE-TRASH
I wanna be Dave
You'll get over it.
Already am. :lol:
Brian Alderman
Newbie
I honestly don’t blame STRC for laying it all out there. At least you know what the deal is and the truth as to why you can’t get their products from Tower/GP anymore. I’ve been told everything but the truth when enquiring as to when certain things will come back in stock. No company should be expected to eat non paid invoices of any amount that’s ridiculous.
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Sent from my iPhone using Tapatalk
BJoe
I wanna be Dave
Well, more or less Doxing them like that is pretty questionable thing to do. Had that been your average customervs a big company this happened to, there would be hell to pay in the court of public opinion.
Ditchrat
RCC Addict
Well yeah thats what us normal people do.
OSRC
I wanna be Dave
There's a huge difference between saying your products will no longer be available somewhere, and posting out accounts payable info.
Doing that only hurts yourself. Many businesses are going to think twice before partnering with a company that publicly airs dirty laundry.
Plus, the better Tower does, the faster STRC gets paid... publicly saying that the company is in financial trouble makes matters worse. I'm not going to renew my super saver membership, as I suspect many others aren't until things start looking up. The worse financial shape the retailer is in, the longer it takes to make the money to pay back the supplier.
No one is expecting anyone to eat their bills.. when finances go south, things take time. I've been in the middle of it. Sucks all around.
I swear, the internet makes people stupid. Between STRC and VP Tom, has everyone lost their mind??
makya
Quarry Creeper
that's a lot of projecting your ideals on to hobbico. I was on the other end of the construction free fall in '07, and had builders tell me that they just weren't going to pay me for the building materials they had on their account so they could pay their personal bills and that non-payment was my concern, not theirs anymore. Due to that, I lost my business, my house and my cars, completely starting over from nothing. For all we know, Hobbico/GP/Tower could be doing exactly what STRC claimed: avoiding them and STRC no longer wants their business. There may be another side to this, but I don't see Hobbico coming out with a real statement or any reports of companies being dealt with in a way that makes hobbico look good.
Personally, I would have no problem dealing with STRC after they aired that, because they did so to explain that they are having problems that have made them look bad, due to their agreement with Tower/GP/Hobbico. Showing the AP only proves their point, and keeps people from assuming that they are lying, or overstating the issue. There may be a lot of opinions here on this forum, but we are a small group compared to their entire customer base.
*fwiw, I did have some contractors and builders that tried to make good on their accounts when the housing market crashed, but they were by far the minority, including companies that had revenue in the millions. It took me almost ten years to pay off my debts, but I did it without filing bankruptcy. I just don't see anything that shows hobbico publicly trying to make good on their delinquencies.
mikemcE
I wanna be Dave
Most of my $$$ in STRC purchases are chassis and steering parts for all my Traxxas rigs, I suspect this is a large chunk of towers dealings with STRC, with Traxxas gone, accessory sales plummet, the MIP family dropped GP/Tower a bit back, I got that email then...... same reasons . I see rats abandoning the good ship Hobbico. They own substantial branding, sell off and reorganization , smaller leaner firm
Hang up and Drive
Hang up and Drive
OSRC
I wanna be Dave
I'm sorry to hear that, the construction industry is not pretty sometimes for sure. I know for our part, we went without paychecks so we could get the bills paid. We realized that our livelihood depended on the company staying afloat. I work with a good group and it's sad that there's some that aren't. I remember sitting in the meetings trying to figure out who was going to get paid, and trying to talk to one man shop plumbers who were out busting their humps in the winter without getting paid. It was terrible....
makya
Quarry Creeper
Thanks, I appreciate that. There weren't many places (in my experience) that went to the effort that you guys did.
I Don't have any more information than the rest of you, but it seems like they're going under, and although they might be doing something behind the scenes to salvage the company, it doesn't look like it when they are staying silent. There may be silence because of pending lawsuits though, which would require them to not say anything that can be used against them later.
Here’s an interesting twist in this plot.. this article from earlier in the year said hobbico had until 12-31-17 to pay off the default accounts of employee shareholders from an agreement earlier in the year. That may have been what wiped them out, I’d imagine once the word got out that deal was in play more employees jumped ship trying to cash in while they could.
http://www.news-gazette.com/news/lo...erral-payout-upsets-confounds-ex-workers.html
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http://www.news-gazette.com/news/lo...erral-payout-upsets-confounds-ex-workers.html
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svt923
I wanna be Dave
To combine everyone's 2 favorite chit chat threads:
Tower just started carrying Vanquish parts and now pretty much everything is listed as not carried.
https://www.towerhobbies.com/cgi-bin/wti0095p?FVPROFIL=&FVSEARCH=vanquish
I guess Vanquish can be added to the list of companies abandoning ship. GP must have wanted them to pay taxes. :lmao:
Tower just started carrying Vanquish parts and now pretty much everything is listed as not carried.
https://www.towerhobbies.com/cgi-bin/wti0095p?FVPROFIL=&FVSEARCH=vanquish
I guess Vanquish can be added to the list of companies abandoning ship. GP must have wanted them to pay taxes. :lmao:
Ditchrat
RCC Addict
What are you assuming that Tower is even ordering things? Its safe to assume that if you don't have your account up to date then parts would be out of stock?
As much fun and entertaining this is, are we really to the point where we are not considering all situations?
some strc stuff in the daily reduction section.
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In this day of online everything, I like getting the catalog, along with the monthly fliers.
I liked doing business with Tower, any issues I had they resolved them quickly.
Could STRC know more than we do, to not worry about getting a lawsuit by releasing that kind of data ?
Or maybe they're just fed up with Hobbico not paying them, to the point of doing stuff without really thinking like releasing private stuff :/
Or maybe they're just fed up with Hobbico not paying them, to the point of doing stuff without really thinking like releasing private stuff :/