Greg Gerber posted on November 24, 2008 07:17
MIDDLEBURY, Ind. -- Residents of the small town have mixed views on the merger, but most, like Shari Nhahn, whose husband is employed by Coachmen, feel it will deliver a beneficial effect to the struggling company and its workers.
One such resident found out about the deal while trading stocks online. Derek Ward, relaxing with a friend at Cafe Crossing, discussed his concerns. "I know that Warren Buffett came into town about a month ago to try and buy the place, but they turned him down," he said. Buffett is a billionaire who owns Berkshire-Hathaway, an investing company. That company owns Forest River.
Ward is one of few who sees danger in the proposal. "In the long run, it's going to be bad. In the short term, good," he said.
Ward has been following investment mogul Warren Buffett's actions and portfolio for some time and isn't entirely thrilled by what he has seen. At one point Ward purchased stock in a mobile home company, which was then bought by Buffett. Shortly after, he said, Buffett also purchased the finance company that worked with the company, as well as the lots being sold for the homes. His fear is that, if allowed to continue operating in the same fashion, Buffett will become a "juggernaut," owning too many aspects of too many industries. He also worries what his future actions relating to Coachmen will be.
Kathy Pfister, who owns a barbershop in the community for 17 years, hadn't heard about the merger, but has been hearing plenty from RV plant workers and others about personal issues caused by or exacerbated by failing industries. People in Middlebury are very down to earth and pragmatic, she said. For example, most of her acquaintances in town are strongly, even vehemently against bailing out the automotive industry.
Middlebury Town Manager Mark Salee is optimistic about Coachmen's new future. "Announcing the purchase of a company that's going to remain in Middlebury is a good thing," Salee said, later adding that "we have a lot of tradition and heritage that comes along with Middlebury and the RV industry."
Salee has been town manager only two-and-a-half months, but he is pleased with how the town is doing so far. Despite the constant churning of the RV industry, he said he hasn't heard any specific complaints yet.
SOURCE: Goshen News