On Sun, 25 Nov 2007 17:31:47 -0700, Mark & Juanita
Before. Pentair only starting looking for a buyer after the strategy
went very, very bad. The Tool Group, the most profitable part of
Pentairs business throughout my tenure, went south in a hurry. Stock
dropped to about half its pre consolidation/globalization level losing
about a billion bucks of shareholder value.
Public record. Annual reports. Glossy words, but you can't hide the
numbers. Also Fortune wrote an article about the disaster, 2000 or
2001. It was very accurate except for the parts that indicated the
"current Corporate management had a handle on the fix".
Thanks. I bought some Pentair stock in 2004 when things seemed to be
going up and shortly before the announcement to sell off Delta. Just got
out a few months ago; I didn't lose money, but could have done better if I
had bailed in 2005.
If you're going to be dumb, you better be tough
Who currently owns the Tupelo and other manufacturing facilities and
what is being done with them, if anything, Frank?
(Would it be possible to line up a set of investors and try to make an
Where is Saw-Stop manufacturing, do you know? I always presumed they
were using offshore contracted production, but don't actually know...
The Tupelo facility is just an empty building, currently owned by
Journal Enterprises a charitable arm of the local newspaper, who have
it available for lease. All the machinery was auctioned off and the
tooling scrapped out for the most part.
The rest of the tool group facilities were transferred to B & D when
the business was sold. I've not fully kept up with that, but I
believe the Oldham facility was closed and Biesemeyer in Mesa, AZ may
be in the process. Jackson, TN, is still open but with an ever
Virtually impossible at this point, in my opinion. We continued to be
successful before the consolidation/globalization because, among other
factors, the invested capital was so low. The facility, machinery,
and tooling were, for the most part fully depreciated but well
maintained and continuously upgraded. Capital was spent only as
necessary to maintain quality, improve efficiency and introduce new
products. Which is how it should be.
It takes a tremendous range of equipment and tooling to be a full
product line woodworking machinery manufacturer and the invested
capital to start from nothing would be very large, and put the firm in
an immediate position of being not competetive. While the market for
the higher quality product was slowly but steadily growing when we
were in operation, I believe the premium for product from a start up
operation in the U. S. would be too high to be attractive.
Don't know, have not kept up with Saw Stop except for threads here
relating to whether the technology should be mandated which I am not
in favor of.
And is considered to be a high quality piece of equipment, further
indicating that the cheap crap coming from China is per the American
importer instructions. The good products coming from China are also per the
American importers instructions.
No argument here on that score...each has a price point/market segment
they're trying to hit and some are better at implementing controls than
others. Mattel comes to mind as the latter, maybe... :)
OTOH, there are overseas importers selling direct who are pretty much
"get away w/ whatever can" including direct patent infringement,
counterfeit logos/brand marks, etc., etc., etc., ... So in some cases
it's not the importers who are actually the "'Murricuns". There's
plenty of shady folks on all sides of all bodies of water or territorial
I mean what percentage of the overall share of the market will be theirs
10, 20, ?? years from now? There are more folks here on a percentage
basis that buy higher-end than the overall market I think simply owing
to the nature of the group. Otoh, it appears to me the purpose of new
strategy is to try to make inroads towards the broader segments. That,
as I said before, isn't what _I_ would have wanted, but it seems where
they're going. They may drive the car completely in the ditch, too, I
Again, I wish many things were the way they used to be, including
casting foundry in McMinnville, but it's a different world...
Then PM would still be manufacturing in TN, too...I figured you'd pick
up on that in a heartbeat...
I'm sure I've told the story of picking up stuff there directly years
ago and getting the cook's tour...
What you're looking for in gray iron castings is consistent adherence
to specification for chemistry and mechanical properties. Castings
vary by size and complexity of geometry and the best castings come
from foundries that have specialized processes that perfectly fit the
size and complexity. They are usually very large, high tonnage
foundries and have multiple processes (Disamatic, match plate, cope
and drag, etc.) or they specalize in just one process and one size
Small, product dedicated, foundries that try to do a full size range
without the highly automated equipment for the smaller castings, or
the overall pouring tonnage, find it difficult to compete. I think
the McMinnville foundry fell into that category, although, I believe
the foundry actually outlived the PM manufacturing facility. Delta
had foundries in the past, closed them in favor of sourcing from the
large specialists, improving quality and lowering cost.
I think they still assemble in the Nashville area, but source their
parts from wherever. The contract facility that machines their
tables, also makes the tables for the Unisaw. At least that's how it
was a year or two ago.
The closing of their McMinville operations was sad. I had always
considered them a worthy competitor with great products, not an import
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