We may well see a lot of companies who's owners don't really have any equity in the company, take a huge hit. If the owner has been just sitting between the bank and the customer, and taking out their original investment and replacing that investment with cheap credit, they now find that same credit costing much more, and so eating into their income*. The workers in that sort of situation will suffer, but as they become aware whose money it is they really work for, they will soon no longer be enableing to those same owners who have not made the same necessary contirbutions to the company as the employees have made. These employees will find new work with companies who have different investors, and the investors expectations of profit may change in relation to absolute profits, but not in relation to relative profits. (how much can I make if I invest this dollar in the stock market, or how much can I make if I invest this dollar in "Proshadetree Lift Trucks, Inc").

It also means that a bunch of the people that have been riding the "wave of success" of a very good market, and had thought -they- were successful because of their own "wisdom", may now find their customer's world does not appreciate their "wisdom" quite as much as it wants their sweat.
in other words, the question of "does the customer want -AN- answer, or does the customer want the -correct- answer" will become much more important to the customer.

* these owners may even use the words "can not get credit" when what they mean is "can not get as inexpensive credit as we used to".

What we are getting is factory slow downs ,then layoffs now the truck that used to get 300 hrs a month is lucky to get 50.Exact figures not exaggerated although not as extreme at all customers usage is dropping.The thing is 300 employees cant run what 500 did.Trucks are now idle they are picked up and used in different department then lower hrs on each because of more lifts available.Now you have a transmission go out.Customer wont replace it,they don't need the lift.They will fix when they need it.Which wont happen till spending speeds up.Wally world said sales are down compared to the first of the year.Their truck now gets 200 hrs every 3 month rather than 2.Pm's slow repairs slow.When you had enough tech to keep up you now have techs going home early 30 to 36 hr weeks.We could lose 2 techs and still not hurt or see overtime.

gotta go with Ed on this one. Our equipment is highly specialized but new sales will likely slow down. Rebuilds, repairs, used sales and rental will all go up. If you look at our industry during recessions, slowdowns whatever you want to call it, service increases as sales dip making this a very steady industry regardless. Unless you count the depression.

I too agree with the previous two posts. The key is service and providing the customers with solutions not just someone to turn a wrench or sale them a new truck. This requires dealerships to lean out the workfoce and replace them with ones who will provide the catalyst for this in their company. For the dealerships who are able it may be a better to adopt a more agressive stance by investing in internal growth initiatives that would provide for capturing a greater portion of disinfranchised customers, stray customers where the current procider can no longer service them and ones who are need of true solutions. This will bolster short term service revenue while setting the stage for the new sales growth when the economy corrects itself.

I tend to agree Ed: Companies will be keeping their equipment longer and they will need repairs. We first of all, need to take a Deep breath and Get-a-grip. It is not the end of the World. Fear is a lousy motivator, you make bad decisions when you are in fear.
Forklift Dealers who are privatley owned will have to tighten their belts and streamline their operations. Getting rid of "Dead Weight" management and un-productive office personell.
This is a good time for them to build a good productive team that is willing to look after the company they work for and forget this "New Age" attitude of "What can the company do for me". Finding ways to operate more efficiantly and be productive.
"Shaking the trees" for more customers, being more thorough on PM's and selling "Legitimate" work, instead of "Banging for eight and going home early. We need to "Double Check" our repair work and make sure we "Did it Right". Rework is costly!! Some say, "Well, I get paid anyway" Will you?? If you have to be sent back to a customer because you did not take the time to check behind yourself, You have become a
"Liability" instead of an "Asset". During economic slowdowns, Owners are watching the numbers more closely.
We will be seeing Forklift companies who will send out people to our competition, offering $19.95 PM's and other ridiculous offers to "get them on board" only to come around and make it up on the "Backside". Sadly, there are those that will fall for these scams. We want our customers to think we are the Best in Town and will never consider changing. It is much more difficult to regain the confidence of a customer, than it is to keep it.
Making sure the tires in your Service Vehicle are properly inflated. Drive like you are paying for the fuel. Plan ahead and try to schedule PM's in one area if possible to keep from driving all over town.
Try to save the customer money and still be some what profitable.
We can get through this, but we as Tech will have to do our part and make ourselves "Valuable Assets" to our company. We need to always remember that Customers are people and we need to take care of them, After all, that is where our Paycheck comes from!!!
The attitude of Large companies, that have shareholders,
They see customers as "ROI's" instead of people and they will soon learn that they will be out of business, which is good for the Privately owned Companies, because they can come along and "Scoop" their customers up.
The customers we take care of now, Will be the ones who will buy new equipment when the economy picks up and will be loyal to us from now on because we helped them get through the hard times.

You all are listening to the "doomsayers" that profit from your fear...
we are in the most recession proof end of one of the most recession proof business there is. when the rest of the economy takes a dump, the forklift service end of things has more business, when things in the economy are good, businesses buy new equipment. bad business should be allowed to fail go away. What we do will be "in demand" until they figure out how to "beam" (ala StarTrek) goods to customers.
we will HAVE to pay the bills that were run up in the last 8 years, and it will be more painful than if we had "paid as we went", but anyone that has ever run up the credit cards knows, you have to pay it off, or no more credit...

We are so slow I'm thinking of poking holes in new trucks radiators just to have a warranty to fix.Lay offs abound around here and cost freeze till end of year has been stated till I'M going to puke.Just hope my shop pulls through without losing anyone.We finaly have decent techs that you dont have to kick to get them to do their job.Only reasoon for 4 to 6 years is it will take time to get money to deadbeats and then to spend hence the jump then all money is done.Nafta took 5 to 6 years to kill jobs here.1990 you could quit a job a week and still find work.Now you got to break a mans legs so he cant walk to get a job.Even then they come to work on crutches.I pray he will do well but from past it dont look good

proshadetree
You are very optimistic. 4-6 years lol. Within 1 year.

Business is busy now only because we have been short handed for months now. No one seems to know where the economy is headed. I wanted to retire next year. Fat chance of that. I will have to work till I drop. The same direction the economy is headed with the new incompentent leadership. LOL did I spell incombent wrong?

Im going to catch it for this but,Short term raise taxes give to welfare state,They spend economy jumps, all praise,Business leave or shut down jobs go away we tank worse than we are now.Estimated time 4 to 6 years I could go on but I will get beat up enough for this