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| Once again, it will not be a Happy Thanksgiving or a very Merry Christmas for many Champion Genesis Redman employees. |
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It has been some time since I posted regarding Champion Enterprises, aka Champion Genesis Redman Modular Homes.
Given the state of the real estate market, home building and particularly modular home builders, it just didn't seem necessary to continue to warn potential buyers about buying from Champion Genesis Modular Homes. However, given the pickle Champion manage now finds themselves in, it seemed like a post was needed.
The old adage, What Goes Around, Comes Around has come home to roost with Champion's management team. As anyone who has read this blog knows, Champion always treated the customer poorly when it came to customer service. A number of stories from people who have had to fix and or repair the home they purchased from Champion, with no help from Champion, are found throughout the postings. Slick marketing can only carry a company so far.
Now Champion may well be facing bankruptcy, having run out of time to pay its creditors and lenders. The lack of product quality brought on by pinching pennies and cheap materials, coupled with over hyped marketing has come around to bite them in the backside. It is a shame the workers will suffer through no fault of their own, they were more than capable of building quality homes, if management had left them alone and provided quality materials and backed it up with customer service.
Perhaps management with be booted out during the re-organization...What Goes Around Comes Around!
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| Spiraling down slowly is one thing, dropping like a rock, from $0.22 to $0.12 in one day, is quite another! |
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| William Griffiths, chairman of Champion Enterprises, Inc stated...Since the beginning of 2008, we have idled or closed four plants in the U.S., reduced companywide staffing by 42 percent and curtailed other spending. |
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| Champion Enterprises, Inc. received notification from the New York Stock Exchange that the Company is not in compliance with the exchange's continued listing standard |
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| No surprise here, the price for a share of Champion Enterprises continues to wallow below two dollars. It closed at $1.70, down from a 52 week high of $11.63. |
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| If they did not spend much money on service when the economy was good, you can only imagine how little they will spend when the economy is bad. |
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| "To those considering a modular, please, please, please take warning and learn from our mistakes before entering a purchase contract. |
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| For those few people still in the market for a manufactured or modular home, the numerous comments and entries on this blog indicate what you should expect if you spend your hard earned money on a home assembled in a Champion Genesis Redman factory! |
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