View Full Version : Shopsmith in 'precarious financial condition'
paulmcohen
03-08-2007, 04:41 PM
Has anyone else seen this article?
http://www.daytondailynews.com/n/content/oh/story/news/business/2007/03/07/ddn030707shopsmithweb.html
audir10
03-08-2007, 07:33 PM
As a shareholder I received the letter last week. It is six pages long with
a well documented explanation of what Plan B will try to accomplish. If
Plan B is able to accomplish the goals they (Plan B) will acquire a majority
interest in Shopsmith. I remain optimistic that things will work out for
Shopsmith even if the Folkerth family will no longer be majority stake
holders.
paul heller
03-08-2007, 08:03 PM
Oh no. Maybe I ought to order that 520 upgrade soon.
charlese
03-08-2007, 10:24 PM
THANKS FOR THE HEADS UP!!:eek:
paulmcohen
03-08-2007, 10:57 PM
As a shareholder I ...
WOW, looking at SSMH over the last 10 years looks painful. I did not even know they were public.
106
curly57
03-09-2007, 01:27 AM
I know I'm doing my best to help them out, Fed-ex will be here again tomorrow!!
I hope they can work it out, I'd sure hate to see them go under!!
Happy Woodworking and may God Bless you and Shopsmith!!:)
Curly......
paulmcohen
03-09-2007, 02:23 AM
They do have great products, they need a better marketing plan. Maybe a new career when I retire. I do/did Marketing for Intel for the past 16 year, high tech to low tech might be an interesting change.
:)
audir10
03-09-2007, 10:09 AM
I recommend everyone got to SSUG.org and read Nick's comment on the
situation. He provides a very upbeat assesment of the company that will
be helping Shopsmith make changes that hopefully will turn things around.
I'm not selling my SS stock and still believe the company will be around
when I'm gone. When all us babyboomers are retired what better machine
to have for our new smaller efficient retirement digs.