I identify as Dune Beige
Aqualu is shutting down. (3 Viewers)
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I identify as Dune Beige
Skreddy
SILVER Star
Lots of posts past this I haven’t read so something similar may have been said…
I used to work at a custom car shop and the guy said he had a proven formula to make anyone have a million dollars in a year: start with 2 million and take orders from people who don’t put money down.
I will take it over. Just hand me the keys.
Skreddy
SILVER Star
Damn I should’ve read the whole thread before posting. It went down quick.
I’m not contributing in any way, sorry. I’m getting my pilots license, which I’ve wanted to do for 20 years but finally in a spot where I can. My wife and in-laws say I’m having a mid life crisis. I said I’m flattered. See, I’m 39, so that means I’ll live until 78+?! Shooooot. I thought I’d have used up my chances way quicker and 27 was my mid life! So to tie it back in, I guess now I’m middle aged. That hurts more than any other label.
I’m not contributing in any way, sorry. I’m getting my pilots license, which I’ve wanted to do for 20 years but finally in a spot where I can. My wife and in-laws say I’m having a mid life crisis. I said I’m flattered. See, I’m 39, so that means I’ll live until 78+?! Shooooot. I thought I’d have used up my chances way quicker and 27 was my mid life! So to tie it back in, I guess now I’m middle aged. That hurts more than any other label.
micruz60
Unleaded Regular
polly-tricks of identity. . .
ageism ?
REEEEpost. . .
ageism ?
REEEEpost. . .
Jarhead0802
SILVER Star
If your Jonathan Ward, you'd either had a "heads up" that one of your main suppliers is going away OR you're figuring away to secure as much inventory as practical.
In any case, I sent my order in for a tub. Now I just have to figure out where to store it until I finish off my 1968 VW Beetle project.
In any case, I sent my order in for a tub. Now I just have to figure out where to store it until I finish off my 1968 VW Beetle project.
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Living in the Past
SILVER Star
Guess I haven't been paying attention. Didn't realize restored FJ40s with an aluminum body sell for well over $125K. I didn't realize FJ40 were selling for over $125 unless they were a Icon by TLC in California or the FJ Company. Big difference between those and one that is being personally restored.
Downey
SILVER Star
Aqualu may not have seen a way to remain in business successfully (at retirement age), same as Downey Off Road Mfg didn't. Our situation was that the internet got really active during 1988-2002 era putting every little Johnny in the USA into business in their basement/barn, knocking off everything that could be built easily, with zero overhead. Mama merely made little Johnny a website that made him look like Amazon. Aqualu's situation may merely be the seriously high price of aluminum (or availability, some auto manufacturer's being quoted 1 year out to get their metal orders). Downey's situation was the internet took away most of our business on the "simple to build/copy parts", which took away a lot of the income we needed to produce our sophisticated parts, considering I could've spent $10,000 any day repairing a CNC machine. That coupled with the high operation cost of employees who had been on the payroll for 25-plus years, along with the cost of their benefit packages. I tried to sell Downey, saw about 30 potential buyers over a 3 year period, every stinking one of them was afraid they wouldn't know what to do after I was gone. I told their brokers that if that was the case, the potential buyer's should have instead been shown shoe stores that were for sale?????
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I was hoping you would chime in Jim. One of the MANY things that I learned from watching you run Downey Off Road 30 years ago was that owning your own business is like riding a roller coaster. You can build it as big as you want: the highs are higher; the drops deeper.
Eventually you just come to a point where it’s time to get off. If you’re lucky, you can sell your roller coaster. If not, you get to dismantle it too.
Aqualu’s legacy reminds me of the coach builders at the turn of the 20th century, looking at the future in Henry Ford’s proposal. Aqualu’s employees are much like those artisan coach builders.
Or John Henry vs the steam drill, which in this case is Chinese.
TLC is probably already in private talks with topnault
Eventually you just come to a point where it’s time to get off. If you’re lucky, you can sell your roller coaster. If not, you get to dismantle it too.
Aqualu’s legacy reminds me of the coach builders at the turn of the 20th century, looking at the future in Henry Ford’s proposal. Aqualu’s employees are much like those artisan coach builders.
Or John Henry vs the steam drill, which in this case is Chinese.
TLC is probably already in private talks with topnault
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I'm reading here that in the end, business owners who can't get what they want for their enterprises do the same things corporate raiders do. Kinda gives Carl Icahn a good name. I had never thought about that before...
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Not following you counselor. Care to elaborate?
Sure. By example. Business valuation is alchemy, but ...
My friend has a sheetrock and drywall company. The business consists of his crews and supervisors, estimators, office mgr, and inventory on hand (already allocated to specific jos). The headquarter for the business is a double-wide trailer across the street from where he lives. The business has basically no overhead and is wildly profitable. The value (for purposes of selling it) of the business is a function of anticipated future workstream.
The other business is an asphalt paving company. In addition to crews, estimators and managers etc. (in common w/ the sheetrock co), it also has trucks, paving machines, an eqpt yard, mechanics, asphalt plant/loader -- in other words, s*** someone paid for to run the business. So the value of that business is, like the sheetrock co, also a function of anticipated future workstream, plus the value of the business's assets.
If the sheetrock guy wanted to sell his business, it would be pretty easy to put a price tag on it. Indeed, it would make little sense to simply walk away from it without selling it, because its value exists only as an ongoing enterprise. The paving company, on the other hand, has a collection of sellable assets. And even though the company should have depreciated its purchase of those assets (essentially already being compensated for them), an owner trying to decide between selling the company and walking away from it would weigh the value of selling the company's assets against the the sale price of the company as a whole and the risk associated with selling it. Oftentimes, it makes much more sense for the tired business owner to simply sell the assets like a corporate raider would do after purchasing an undervalued company.
++++++++
csb: I had the chance to buy the paving company abt 20 years ago. The owner was practically giving the company away irrationally because he had a strong philosophical urge to get younger people into the business. Did I mention the business had hundreds of thousands of dollars of cash on hand as well? But I'm a pussy with an extremely low tolerance for risk, and i passed on it. The people who bought it got it on the same terms I would have bought it for: no money up front, and a 10-year income stream to the seller based on a % of profit. Those thieves spent the half mil cash, sold all the equipment, fixtures, and land and left the seller high and dry after about 9 months of paying the income stream that was supposed to fund a comfy retirement. /csb
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Now I understand your opinion. And yes that does happen. But not always.
My father left behind an ongoing concern when he passed. He had made arrangements before he passed, and I helped my mom deal with what was left, which was still a lot. I don’t know that either of the gentlemen who bought his businesses/assets made a long-term go of things, but there was certainly no raiding.
I also watched a proud and honest man struggle to sell off his inventory and assets and pay off his creditors with either cash, inventory or assets. To this day Advance Adapters has done nothing with the rights to some of Downey’s finest designs, which was and is their prerogative. Same with Trail Gear. But there was no raiding.
One of many reasons Jim is still my friend.
YMMV
My father left behind an ongoing concern when he passed. He had made arrangements before he passed, and I helped my mom deal with what was left, which was still a lot. I don’t know that either of the gentlemen who bought his businesses/assets made a long-term go of things, but there was certainly no raiding.
I also watched a proud and honest man struggle to sell off his inventory and assets and pay off his creditors with either cash, inventory or assets. To this day Advance Adapters has done nothing with the rights to some of Downey’s finest designs, which was and is their prerogative. Same with Trail Gear. But there was no raiding.
One of many reasons Jim is still my friend.
YMMV
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1MOA
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Guy in our TLCA chapter built one of those on a 80 chassis. It is an absolute beast.For those interested:
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Wish I had the cash…
thatcabledude
GOLD Star
Wish I had the time (and space) to build it.
Thank you Aqualu for the incredible products that were produced over the years. Having a specialty manufacturing business is tough and the entire Land Cruiser community appreciates the craftsmanship and dedication of every person associated with this business. 
That would be awesome
