Will Monaco make it?

[betsytom]

Traded yesterday at sixty six cents per share.

[murffdog]

Didn't they already close the Indiana plant?

[utmtman]

I believe they closed a plant in Indy but I believe they had more than one. Cant keep up with some of these companies.

[whodo]

Headquartered in Coburg, Oregon
Traded on NYSE under symbol "MNC".

Luxury RV maker Monaco Coach Corporation announced today that it was notified Jan. 6 by letter by the New York Stock Exchange (NYSE) advising that its stock faces a possible delisting by the exchange. The letter said Monaco was not in compliance with the stock exchanges standard requirement that a listed common stock maintain an average closing price of more than one dollar per share of common stock for 30 consecutive trading days.

In the same communication, the NYSE observed that the Monaco's average market capitalization over a recent 30 consecutive trading day period was below the NYSE minimum quantitative continued listing criteria of $25 million. While this would normally be grounds for immediate suspension and delisting, the NYSE has advised Monaco that it is continuing to assess its listing status. In the last year, the company's stock has traded between $9.04 and $1.08. It closed Monday at $1.58.

[betsytom]

Gone?, its reported that they are sending out termination notices to the remaining employees, if I read the stock listings right, its at .22 a share.

[stevesandidge]

as of 9 am this morn its stack is .06 cents a share. on its website they are anouncing termination of all employees, most of which have been on furlough since mid dec.:( this is a bad bad day for the rv industry. i wonder who will buy up the assets?
steve

[whodo]

Well it appears unless something short of a miracle happens, Monaco's name will be added to this list.

1) National RV - bankrupt

2) Western RV (Alpenlite) - closed

3) Alfa Leisure - closed

4) Okanagan RV TC Div- closed

5) King of the Road - closed

6) Weekend Warrior - closed 08

7) Travel Supreme - closed and all assets sold to Jayco

8) Sunline Coach 1206

9) Thor Sold OFF TT/5th 08

10) SnowRiver Campers 08

11/12) Open Road/Pilgrim -- Closed Aug 08

13) Teton Homes --- Sept. 08

14) Stewert Park Homes -- 08

15) Frontier --08 ??

16) Alpine 08

17) Ameri-Camp 08

18) Extreme RV 08

19) Rage'n 08

20) Coachmen sold to Forest River Dec. 08

21) Big Foot (Canadian) 08

22) StarCraft sold 08

23) Extreme RV (the one that bought out KIT brand TT's) ??

24) Sun Valley (TC)

25) Nu Wa manufacture of "HitchHiker", "SnowBird", "Stow-A-Wa fifth-wheels" Feb 09

26) Country Coach (09)

27) Dolphin

28) Wanderlodge (BlueBird MH div.)

29) Will Monaco's name go here????


If you include companies that got bought out or folded over the previous couple years, you have to include:

1) R-Vision
2) Holiday Rambler
3) Safari
4) Beaver
5) Starcraft
6) Shasta
7) American Clipper
8) Bluebird
9) Barth
10) CarriGo
11) Chinook
12) Champion
13) Cobra
14) Damon
15) Georgie Boy
16) Honey
17) Kit
18) Lindy
19) Mallard
20) Overland
21) Xplorer
22) Pace
23) Revcon
24) Rockwood

For a even more complex list of RV manufactures and there status go to;
http://www.rvadvice.com/rvmfgs/MH.html

[betsytom]

whodo, that list really puts it in perspective.

And if anyone needs more bad news Warren Buffett is going to take the axe to Forest River.

[whodo]

Monaco files Chapter 11 bankruptcy March 5 2009
The rest of the info can be read here...
http://www.marketwatch.com/news/story/monaco-coach-corporation-reorganize-under/story.aspx?guid={B8D4D68F-3BEC-4070-939E-C6825BA8B23E}&dist=msr_1