Below is a new blog posted by Greg Gerber this morning.
http://www.rvinews.com/Blogs/tabid/16942/EntryId/245/Fleetwood-demonstrates-hidden-strength.aspx
Fleetwood demonstrates hidden strength
At the opening reception to the StagParkway annual dealer show last night, I had an opportunity to talk to several suppliers about the condition of the RV industry.
While many expressed optimism over reports that business is picking up around the country, some remained concerned about the fate of a few of the industry’s largest manufacturers. It’s no secret that several of them are struggling in a very challenging environment and a few RV makers are teetering on the brink of bankruptcy.
But, I found it insightful and praiseworthy that supplier after supplier made an unsolicited effort to praise Fleetwood RV for doing whatever it takes to maintain current accounts with their vendors. Several suppliers claimed Fleetwood was the best paying RV manufacturer in the industry today, describing it as a firm that keeps its accounts current month after month.
So, as people dream about Fleetwood’s demise because its stock is trading at about 11 cents, the company must be doing something right if it can continue to pay its bills on time to its most important industry partners. You would think that if a firm were in danger of folding, one of the first strategies it would take to preserve cash would be to extend payment to vendors by 30, 60, 90 or even 120 days past invoice. But not Fleetwood.
Hardly a day goes by that I don’t get a call or e-mail from someone saying they just heard that Fleetwood has filed bankruptcy. Every one of the rumors has proven to be false to the point I suspect the rumor mill is being kept alive by competitors who would like to see the innovative, customer-focused company go away because it will lower the bar for everyone else.
As a speaker noted at the StagParkway opening ceremony this morning, anyone can roll down hill. But, it takes courage to remain committed to your passion, your business and your product when everyone else believes you are doomed to fail.
Fleetwood demonstrates that type of courage — and their appreciative supplier vendors have taken notice.
Tags: fleetwood
