Woodworkers Warehouse closings...the actual story...

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California is another state where you pay wage taxes even if you're not a resident. A lot of G.I.s find that out the hard way. If you're stationed in CA and get a part time job in the state, you have to pay state income tax. This would have happened to me even though I was a Michigan resident at the time.
On Tue, 09 Dec 2003 12:47:14 GMT, Michael Baglio

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jkajpust@###ameritech.net says...

Not surprising, CA is the state that a couple of years ago was trying to figure out how to assess Hughes (I think) for real estate taxes on the value of satellites it had in orbit. If'n I was a corporation and had a presence in CA, I would have to have a really, really, really good reason to stay in CA and not move to another (any other) state.

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Mark & Juanitia writes:

I think CA is finding that out, now. People come for the weather (and because they like crowds?), and businesses leave because they can't afford to do business there.
Charlie Self
"In the final choice a soldier's pack is not so heavy as a prisoner's chains." Dwight D. Eisenhower
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I doubt that you would pay taxes in both places, but a phone call to the tax div of each state would answer the question. As for the rate for sales help, that's why I suggested starting with the higher jobs. You've been in the industry, the loss of job has nothing to do with you personally and good mgmt is hard to find. Dave in Fairfax
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reply-to doesn't work
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daveldr at att dot net
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Dave notes:

The following might have some info: I used it to check possible locales when applying for jobs after my WCS debacle.
http://www.statetaxcentral.com/Multistate /
Charlie Self
"In the final choice a soldier's pack is not so heavy as a prisoner's chains." Dwight D. Eisenhower
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Sorry to hear about your job situation.
Good luck in your job search. Someone with your knowledge should be able to find a good job.
Thanks for the info.
Rob

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....
Hmmm... the local Delta rep didn't dispute that WWW owes Delta $20 Million when a rep from a local industrial supply company told me that in in the Delta rep's presence last March. His reaction, verbal and non-verbal, supported the statement as he was pushing me to buy from that supplier rather than WWW. I did order from that vendor but at the time of deliver they wanted to tack another $125, on top of the $50 originally charged, for delivery. WWW got that sale.
Makes one wonder what the real story is... the Delta rep certainly did nothing to refute it.
John
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Well...I suppose it could be possible...but I just can't see how.
That would be one HELL of a lot of Delta tools. And even with 94 stores, it just doesn't seem to me that we could have possibly had THAT much inventory in just Delta equipment. I mean...at least in our store, we didn't have all that much Delta stuff in there.
But I must admit...I could have not been told the whole truth???
Oh wait...the execs never tell us anything but the truth...right? (snicker)
I know one thing...those 12 -20 folks who were regularly coming to the free woodworking classes I was giving are sure gonna miss our store too....
Terry
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John Grossbohlin notes:

Why would a sales rep be privy to confidential financial info?
Charlie Self
"I have one yardstick by which I test every major problem-and that yardstick is: Is it good for America?" Dwight D. Eisenhower
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It's hard to imagine a company sales rep not picking up on that kind of information... problem accounts are problem accounts and word gets around. Sales reps talk... Something like this is pretty hard to keep secret considering that A/R, IS, computer operators, sales managers, service reps, and sales people all have their hands on information at points in time. Also, anyone in proximity to the A/R or sales people who work collections would hear it even if they weren't in the formal information chain. I see and hear this kind of stuff pretty much every day and have for years--four different industries--as getting paid is high on any organization's list of important things.
John
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Ya know, one problem with working at a home depot is that most only want a bunch of part timers. Usually 20 to 25 hours a week or less. No benefits, and not much chance to advance. A close friend started when the local store opened, got in under the door as a full timer, but they kept pushing him to work less hours. They look for people that are looking to supplement their income.
Dave

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Terry,
In looking through some of WWW's public filings it looks like WWW may have been getting healthier but the pivotal event seems to be that shown in their October 27, 2003 Form 8-K which says that their EBITDA target was not achieved. Apparently this triggered the default that was called by the Agent (Bank of America) on behalf of the syndicate (Bank of America, Foothil Capital and Transamerica.)
Portion of text contained in 10/27/03 8-K: "As previously reported, Woodworkers Warehouse, Inc. (the Company) did not comply with the second-quarter EBITDA covenant contained in the Loan and Security Agreement (the Loan Agreement) by and among the Company, Bank of America, N.A., Foothill Capital Corporation and Transamerica Business Capital Corporation (the Lenders). As a result, an event of default exists under the Loan Agreement."
I'm personally going to miss WWW as they were the only good source near me in Maine.
Boden
Terry Sumner wrote:

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Terry,
Thank you for your post. I am sorry to hear that you will/have lost your job. You sound like a great employee. Because of the holidays and such, I just learned about the closing of the stores today.
Boden,
I appreciate the post too, since it better explains the rationale for the quick and decisive decision. I am not happy about it, but at least I understand why.
WWW was a great store that I will greatly miss. HD/Lowes don't compare. I encourage you to consider the start up idea discussed here, as I am sure you will have loyal customers.
Finally, I have gift certificate, but none of the stores in NH seem to be open still to honor them. I saw a post that stated the AG of NY,CT,MA,NH all stating that the GC should be honored.
Does anyone know which stores are still open where I can go to spend $$$?
Thanks and best of luck Terry!
Scott
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The store in Syracuse, NY just off Erie Blvd. is still open until the 8th. Ph (315)449-9663 and ask for Chris (Mgr.). Another store in Johnson City, NY (Westover actually) is open also Ph(607) 729-8665. You may be able to arrange the sale over the phone and have them hold the item for pickup. I see both stores have an area blocked off that have Sold tags on items awaiting pickup.
Bob S.

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Kingston, NY is still open.
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I went to the Kingston store again today (Saturday)... I hope they close soon as saving all this money is getting expensive ;-) Anyhow, for those others that might be interested in "saving" 25% on stationary tools:
They still have a Jet right-tilt cabinet saw and a number of Jet contractor's saws--I think there were some Delta contractor's too. There are also a couple 15" planers left. A Jet mini lathe (or do they call them midi??).
In smaller tools there is a PC 3 1/4 HP router. A couple PC butt hinge mortise router templates. Some PC compressor/nail gun combos.
There is quite a bit of other stuff like clamps, router bits, and saw blades.
So go save some money!
John ...will miss them as they were about 3 minutes from my office.
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