Good Morning,

Continuing operations of Brundage-Bone received another extremely unfavorable ruling yesterday in the Denver courts. Wells Fargo teamed with Key Bank against the management of Brundage-Bone and the court ruled in favor of the banks. Wells Fargo will be the financier of the company post-petition Chapter 11 removing the ‘ridiculous restructuring" plan presented by Brundage-Bone and Aurora. In the court documents, Wells Fargo and Key Bank make their distrust of the management of Brundage-Bone very clear. Eighteen months ago we reported the "Beginning of the End" of Brundage-Bone now as an industry we are at the "End of the End". Contractors need to be extremely cautious, the new Brundage-Bone restructure plan proposed by Wells Fargo includes "deferral of insurance payments" until the last possible moment increasing risk to a very high level.

10, 9, 8......

I worry about all these operators having to leave this industry, I could careless about BB but the employees that are so loyal that every time a bad word is said they are there ready to defend, what do these employees do when there last checks bounce and theyre already (most anyway) probably living check to check because of the economy, what do they do when 6-700 machines shutdown with what I am sure will be little notice , work is scarce hard to find work already, and the bad taste that will be left in all these dedicated operators,mechanics,and so ons mouths will probably lead them towards leaving our industry, hopefully we will see a turn around in the next couple of months that will help the rest of us survive,this should be a lesson to all ,our prices our wages and our expectations of our industry our operators our companies and our manufacturers needs to be raised to a new level, this industry needs to be led by morals and ethics not power and greed, we should never flood this market with machines again,all buyers of this equipment should have to have someone that has a master certification within the company before they are qualified to purchase concrete pumps and enter our industry we need a total rework and the time to start is soon. Start doing the mathematics on making a profit with pumps working on only 50% of the normal, whatever you have to charge to make payments and retain your operators and employees without them or you going broke in the process, now is the time, will we change are will we start another cycle of bankruptcies , its up to us.

Well said. I am sad for all of the hard working operators/mechanics that have been left on the hook and wont have any place to go once the bottom falls out. The pretty picture that managment is painting buys them time, not the troops.

So are you a lawyer??????

Sounds like someone has a very big axe to grind against Brundage-Bone to go off like that; giving misinformation along with innuendos and half truths.  In this economy with the big guys and the little guys going out of business, no one wants to hear from someone who is obviously trying to steal business any way they can.  We are all hurting, just look around; every industry and company is trying to survive this depression and Chapter 11 is the best way to do it at this time.  It keeps the wolves (pun intended) at bay and allows the company to breathe and the employees to keep getting a paycheck.  The banks, like Wells Fargo are the ones holding all the cards and are a part of why this economy is in the toilet.  They don’t care who they bull doze over to make their buck, just look at the foreclosures that are happening.  If you want to be different, I suggest you get your business the right way, by hard work and remembering that what goes around comes around.  I don’t wish that for you, so keep it real; this industry depends on all of us working together to get out of this mess.

Can anyone furnish a link to follow the bankruptcy proceedings?

There was a link early on in this thread of emails,but it did not work when I tried it.

Suggestions?

....dead pumper

Look at the post titled Brundage Bone restructuring Facts.

Most owners and employees see a need for pump companies to work together to make changes to our industry. Not many are willing to help each other to make improvements. WHY? everyone has to keep the wheels turning or go under. Are there solutions? YES! Are companies willing to communicate these to one another ? and agree? Not really. There is no immeadite change comming. Every one just wants to survive until the economy gets better. and guess what?? nothing will have changd.

who is wolfpack41

Well wolfpack AKA Ralph sounds like you have a chip on your shoulder if you spent as much time on your own stuff as you do on bbcp you might have something I have read alot of your stuff and you are a sad sad man with nothing more in life than to worry about.