Peavey auction

[pucho812]

Looks like they moving everything overseas so clearing out inventory...

https://www.cagp.com/events/inventory-assets-no-longer-needed-for-on-going-operations-of-peavey-electronics/?utm_source=Facebook&utm_medium=variable+photo+-+professions&utm_campaign=PEAVEY+ELECTRONICS&fbclid=IwAR2BwiiZ2ijyfb5SLJHTZnshA9S2zfqAfHdA-BNL6433njtkqKATIlC2eAc

 

[JohnRoberts]

yeah a friend sent me that this morning...  :

some of that crap is really old, and the big wood working machines like panel saws were auctioned off some time ago. (They also auctioned off the million dollar NC metal punches, TH,  and SMD assembly lines, several years ago).

If anything this may indicate winding down the already modest custom wood work done in Meridian. I recognize some of the crap inventory in those piles from last century.

That looks like a few $M random housekeeping. Hartley really hates writing down inventory and taking the paper loss, but perhaps he needs a tax write-off for something. I won't speculate about what he may have a profit on to offset. This doesn't feel like a death rattle to me, but clearly shrinking his local overhead/footprint.

The address given for that auction is plant 3, a building famous for being a 1/4 mile long. Peavey still has lots of local real estate to sell (AFAIK, but I don't actually know).

JR

 

[pucho812]

hello John,


that is good to know.

 

[JohnRoberts]

hello John,


that is good to know.

I didn't say I actually know anything, but I still grab a few beers with the current sales manager from time to time, not that I would share anything I was told in confidence.

I may know where some skeletons are buried, but that's not unusual for MS.

JR

 

[iampoor1]

Is this the same plant/building that was featured in undercover bosses?

 

[JohnRoberts]

Is this the same plant/building that was featured in undercover bosses?

Actually I think maybe two segments were inside plant 3 and they parked the motor home outside in the parking lot near the shipping end of plant 3.  The speaker cabinet build was definitely in the plant 3 wood shop, and I think the lady doing final prep on some media matrix was in plant 3 (but that line was moved there long after I left). 

Plant 3 was wonderful to watch in its height. The far end 1/4 mile away was the receiving end... the near end where my office was and the motor home was parked was the shipping end.. like a huge snake, eating components at one end and sh__ting finished goods out the other.  8)

At one time (mid 80s) my mixer engineering group was located in plant three upstairs above the analog engineering group (there was one junior engineer designing bass amps down in analog who couldn't play a lick and it was painful to listen to him thump all day through the floor. Thankfully he didn't last and was replaced by a player. ) Over 15 years I had offices in at least 4 different Peavey buildings.

President Bush senior visited Peavey in 1991 and they set up a stage in the middle of plant 3 with pretty much the entire company present. Somebody printed up T-shirts for everybody to wear welcoming President Bush, but the secret service veto'd that so the sharp shooters on the roof could identify individual targets if necessary. It wouldn't help secret service to have 1,500-2,000 people wearing the exact same T shirt. 

I still can't believe Peavey ever agreed to do that TV show. It revealed that they didn't have much self awareness. 

JR