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Economy Shuts Down Crane Cams

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DrEntropy

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That's about as sad a piece of news as I can stand for one day.

Gonna go crawl into a hole now and wait for all this to be over...

RATS!! :madder: :wall:
 
PeterK

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I am shocked about that. My first "hot" cam was a Crane in a 1961 VW, long, long ago.
 
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tdskip

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How much do you want to bet that when the company was last sold the company / private equity group that bought it leveraged the snot out of it....
 
TR6oldtimer

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tdskip said:
How much do you want to bet that when the company was last sold the company / private equity group that bought it leveraged the snot out of it....
Click to expand...

It happens all the time. Not only did the new owners leverage the heck out of the deal, they did not have the love of the business the original owners had. That said, other then for the racing business, I would bet heavily that the demand for street cams is nowhere near were it was 20-30 years ago
 
TR3driver

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tdskip said:
How much do you want to bet that when the company was last sold the company / private equity group that bought it leveraged the snot out of it....
Click to expand...
Of course; that's how it's done. There are effectively roving bands of predators that wait until there is a bailout in the air; then buy up the weakest companies using all the leverage they can muster; so the company can be sold at a huge profit after it's bailed out. I had a front row seat a few years back, as the Carlyle Group worked their magic on my employer. The WSJ estimated they made some 300% ROI on the 90's bailout.

Apparently this bunch mistimed their purchase of Crane Cams. No problem for them, they'll just roll the dice again with some other company. Losing a fine old business like Crane is just collateral damage ...
 
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