That was the rumor right after Christmas. Just didnt hear who had made the pitch, but reading that, it might have been Jegs to begin with.

Doesn’t effect me, Never bought much from JEGS.

Not a good thing for bracket racers or class. In my opinion.
Race Winning Brands has bought up their share too!

Have you lived your entire life scared of change?

X2

Those are the facts pal. No company bought up was ever the same for price quality or availability. Scared of change? Lmao! Get off your little pigmy pony and look around.

quote:

Originally posted by BP758:
Those are the facts pal. No company bought up was ever the same for price quality or availability. Scared of change? Lmao! Get off your little pigmy pony and look around.

I agree. The motivations of an investment company will not be exactly the same as those of the folks who started the company. Being in business is largely about making money. But an investment company is only about making money.

Ain’t scared nor care about Jegs acquisition or Ukrainian, effects me in no way!

I figure Jegs sees the writing on the wall. Cars don't rank as high of interest for future generations.They figure riding high take the big sum and move on. They still have minorty interest in company and probably getting good amount there.

Plus how much money do you need before you say screw the headaches I am going to just enjoy?

Investment companies are about profit, period. Close to us look what happened to IHRA when investment took over. How about when investment companies started taking over nursing homes?

Wonder how long that racing dynasty housed at JEGS will last before the bean counters see no profit in it.

^^^^not long.

I repaired Miller welders since the early 1990's.
Miller was a family owned business and grew to be as well know as Lincoln

They were the best company to do repairs for and would do things for customers over and above the std. warrantee sometimes If I went to bat for the customer....Free parts when the machine was like new, barely used and out of warantee on time.....3 years...

Just a phone call and talk to a Tech rep and usually some success and help...

1996 or 1997 Miller got bought by Illinois Tool Works.....a large group

Things went down hill slowly.....and it got to the point where I was turning repairs away for various reasons including their total revamp of warrantee claim procedures....

They sent out a 33 page set of instructions a year or two ago on filing warrantee claims....

The machines themselves are far more complicated thanks to their commitment to INVERTER technology

Doing repairs is a total loser for any small business and add in the time to file warrantee claims and I'm out....

I do the same thing with Onan Warrantee but it's way more user friendly but not a money maker either.....

Cummins-Onan is another example of the same thing......Cummins bought Onan years ago and things got somewhat worse....

BEAN COUNTERS counting BEANS.......lol $$$ Talks.....

60 min had a segment on these investor buy outs this evening. First sell the physical assets then bleed the rest dry till there is nothing left. Jeg senior would turn over in his grave.

Equity firms buy businesses to profit from taking them apart. Also not surprised as Jegs is now a family third generation business. Typical for them to fail or be sold off at that point as gen 3 has benefited from previous generations hard work and been ale to live nice lives from it.

quote:

Originally posted by Bucky:

quote:

Originally posted by BP758:
Those are the facts pal. No company bought up was ever the same for price quality or availability. Scared of change? Lmao! Get off your little pigmy pony and look around.

I agree. The motivations of an investment company will not be exactly the same as those of the folks who started the company. Being in business is largely about making money. But an investment company is only about making money.

I spend 28.5 years working for a place, and I would like to say I had a big part in their success. Noone else stayed as long as I did. In 2018 they retired and sold the business to an investment company. The changes I saw were profound.

28 years of busting my butt for the customer. The last couple with the "new" company, were more or less we don't care about the customer as much as we do about the dollar. And with that, I retired. They call me once in a while wanting me to go back to work. Nope. You want investment, you can invest without me, because those people darn sure didn't bother to invest IN me, nor do they invest in the people that still work there. It's all about THEIR dollar and how they can make their dollar become two. I bet if a bigger chain of dealerships came along and offered them a sizeable sum, they'd sell in a new york minute if they could make a few million. With that, the owners could easily retire and enjoy the rest of their lives.

I used to deal strictly with a guy named Larry at JEGS, he also owned Pacemakers Drag Strip I believe. John Coughlin gave me his extension and told me this is who you talk to.

I don't think Larry took orders from the public, just racers.

I believe he was their third longest working employee.

He drove a Volkswagon to work, said it was the best for getting through the snow. He never missed a day or was late 30 plus years on the job.

He said if you showed up, and on time, a guy could work there forever.

Excellent service anytime I called him.

Agree the service has always been great from Jegs in my experience. The "new American Investment Banker companies will usually take the huge customer base, make some Press Releases and start cutting. My guess is the JEGS banners and race cars will soon disappear. legendary company for drag racing the last few decades no doubt.
Good luck to the Coughlins, they poured a lot of personal effort into the Jegs brand!!

Jok

And made a fortune and now have cashed out. As I have stated, they ain’t t
worried about what happens to the brand they built so why would anyone else.

Ed, You have no idea how the Coughlins feel about what happens to the legacy their family built. I don't either, but I have been doing my best to build a brand I started, Trailer Toad, by doing everything I can to offer a great product, the best service I can and I am proud of it. If I ever sell the company it will ONLY go to someone who convinces me they will do the same or it will just disappear, like I will.