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Navistar international is no more


R190
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Got a letter with paper work listing my   Navistar stock certificates today telling me to send them in and they will send me a check. Without interest of course. End of an era ! I wonder how long that will take.

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It amazes me that a German conglomerate can make money but an American Company can not. Only shoe that fits is mismanagement at the American Company.

Adios to one of the last mostly American Truck Assemblers.

 

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8 hours ago, R190 said:

Got a letter with paper work listing my   Navistar stock certificates today telling me to send them in and they will send me a check. Without interest of course. End of an era ! I wonder how long that will take.

I don't claim to know high finance so who is paying you off the last bit of Navistar? Or the VW is cleaning things up. Did you have a chance to vote your share to sell the Navistar company, or not sell? 

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Another sad day ?

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How many $100 of millions did the MaxForce POS cost them in repairs/buybacks and lawsuits? Took the profit right out of it.

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14 hours ago, 806 man said:

How many $100 of millions did the MaxForce POS cost them in repairs/buybacks and lawsuits? Took the profit right out of it.

In addition to all the bad press Navistar got with the Ford/Navistar 6.0L mess as well. To go from being the #1 supplier of diesel pickup engines with the 7.3L Powerstroke to being completely out of the business after the 6.4L engine was dropped by Ford in 2009-10 in favor of something built entirely within Ford...had to really hurt Navistar as well.

Its interesting...you would think Navistar would have had enough management people in the early/mid 2000s to remember all the bad decisions made by IH in the 1970s/80s that something like this should not have happened, but evidently there were still enough bull-headed people that were set in their ways to not realize what was going on.

https://www.freightwaves.com/news/navistar-clears-final-regulatory-hurdles-to-become-part-of-traton

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A little of the mark but still in the baliwick of Navistar info, as its an offshoot of IH, maybe someone, or a few of you, more well endowed with intelligence than I am, can enlighten me on this little tidbit. Lately I have seen adds for "Farmall". New tractors, and they are red, looking like CaseIH products and sponsored by CaseIH.

Me thinks CaseNHI or whatever it's called now, may be resurrection the Formal name & brand. Anyone have any insider info on this?  

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They brought the Farmall name back a number of years ago, it's they compact utility line.  You can seem them on the CaseIH website.  

As far as Navstar being an "offshoot", it's not, or I guess I should say it wasn't now.  Navstar was IH, they just sold off all the divisions other than the truck and engine business.

K

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As for the comment about management at Navistar should have learned from the mistakes of the late 70’s and early 80’s, the big issue was that most of the Harvester guys were long gone by the time the current problems developed. My dad retired in 2010 and was one of the last Harvester holdovers still in management. And again telling, dad was passed over for one last promotion and the position was given to a young guy who had showed little in the way of competence. The given reasoning was that the kid had a college degree and dad did not, however dad had been with Harvester for 41 years and started when he was 18. Just an example of how things were being run and how post 2000 there was a concerted effort to get the old Harvester guys who had the experience and the knowledge of what went wrong to retire. There were lots of mistakes made, but Navistar was in a great position up through the mid to late 2000’s, and the engine fiasco was what ultimately broke them. Dad blames that one on the CEO, as he insisted on continuing on an incorrect path when all the engine guys were saying the opposite. I will also add that as much of the stock got bought up by industrial investors, they were more interested in making a quick buck than investing in making a profitable company for another 100 years.

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college boy bean counter ,morons started in the 60's,avoiding the draft, and they folded most good bushiness and scammed the golden parachute.

folded 2 ,I worked for in the 80s,

father had 3 good union jobs that went that way along with EVERY $ of retirement

,GC ask how can I have 18 yrs,school + 4 yrs experience,still be < 25 ,earn $15 hr and pay on $200

K in loans.

now it is 4x the Clique,cant even apply for many jobs without.for the most part teach s nothing but how to scam the system

5 hours ago, DaveinSD said:

And again telling, dad was passed over for one last promotion and the position was given to a young guy who had showed little in the way of competence. The given reasoning was that the kid had a college degree and dad did not, however dad had been with Harvester for 41 years and started when he was 18. Just an example of how thin

 

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You can usually blame it on greedy company execs pulling in hundreds of thousand dollar salaries  not to mention all their glorified bonuses and other perks While the workers get screwed over 

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times change and a company that can't change with them won't make it.   usually there are several reasons including but not limited to bad management bad products and bad timing

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52 minutes ago, acem said:

Not many of the big companies from WWII left here in the USA.

yes we are being consumed by foreign entities - why do you think that has happened? I have my spin but would like to hear others. 

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11 hours ago, searcyfarms said:

yes we are being consumed by foreign entities - why do you think that has happened? I have my spin but would like to hear others. 

Foreign?    Walmart, Amazon, Apple.......

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20 minutes ago, Jeff-C-IL said:

Foreign?    Walmart, Amazon, Apple.......

i was meaning foreign owners are buying out bits/pieces of large companies in the US 

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1 hour ago, searcyfarms said:

i was meaning foreign owners are buying out bits/pieces of large companies in the US 

not to mention vast tracks of land and commercial RE

which USA citizens have a difficult $$$ time doing in those countries

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On 7/14/2021 at 5:19 PM, DaveinSD said:

As for the comment about management at Navistar should have learned from the mistakes of the late 70’s and early 80’s, the big issue was that most of the Harvester guys were long gone by the time the current problems developed. My dad retired in 2010 and was one of the last Harvester holdovers still in management. And again telling, dad was passed over for one last promotion and the position was given to a young guy who had showed little in the way of competence. The given reasoning was that the kid had a college degree and dad did not, however dad had been with Harvester for 41 years and started when he was 18. Just an example of how things were being run and how post 2000 there was a concerted effort to get the old Harvester guys who had the experience and the knowledge of what went wrong to retire. There were lots of mistakes made, but Navistar was in a great position up through the mid to late 2000’s, and the engine fiasco was what ultimately broke them. Dad blames that one on the CEO, as he insisted on continuing on an incorrect path when all the engine guys were saying the opposite. I will also add that as much of the stock got bought up by industrial investors, they were more interested in making a quick buck than investing in making a profitable company for another 100 years.

Dan Ustian started with IH in the 70’s. He worked his way up to CEO and he is the one who told engineers to stay with EGR instead of going to SCR on the Maxforce    engines....this was an old IH guy who did it again...

https://www.forbes.com/sites/joannmuller/2012/08/02/death-by-hubris-the-catastrophic-decision-that-could-bankrupt-a-great-american-manufacturer/?sh=505e42526fbb

 

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A friend of mine who had connections at the Springfield truck plant told me Sunday they are having mass retirements. His connection was one of them.

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