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Holley bankrupt -- again
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Like GM,self-induced.:(
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We gonna do a bailout? :)
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Hope they don't end up like Crane Cams !!! :(
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"According to documents filed with the bankruptcy court today, Holley's prior reorganization strategy was dependant upon growth in its OEM business through a new agreement to supply emissions control components to Caterpillar Inc. for its over-the-road diesel truck engines. However, Caterpillar decided to exit that business line which lead to losses for Holley and attempts by Holley to find an acquirer for its OEM business."
This is what happens when (1) you depart from your core competencies (i.e. carbs and fuel delivery systems) as a way to diversify, (2) put all of your eggs in one basket (i.e. Caterpillar OEM path), and (3) when you still sell mostly slide rule calculators (i.e. carbs) in a fuel injected world. I'm not the least surprised to see this happen. I'm even more amazed that companies like Eastman Kodak are still in operation, too. -Dean |
At least Kodak has moved forward and is making digital cameras.Holley's attempts at moving on(Pro-jection and subsequent systems)were pieces of junk.Complete "screwing of the pooch" form the moment the handwriting was on the wall.
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