Hot Rods Jegs sold

Jegs quality and customer service has been on the decline for a few years now. That and being fined for selling and shipping non compliant parts to California may have helped in the decision to sell.

 

Does anyone see the irony in this?

 

I quit using Jegs a number of years ago, long before covid, due to poor customer service. Have had great customer service with Summit.
Danchuk is not going out of business but is just closing their retail store as others have pointed out. This is from their website:
https://www.danchuk.com/retirement-page

 

Been down that road a few times with previous employers. One company I worked at was diversified with their markets, so we were always profitable. Then we got bought out by a huge company, and the first thing they announced is that they wanted a 20% profit every quarter. Since semiconductor was our most profitable market at the time, they did away with our other product lines and markets to focus on that. When the semiconductor market went down, they started laying people off, outsourcing manufacturing, and squeezing blood out of a turnip to maximize profit margins until they finally sunk the company for good. The greed of a few outweighs the need of the many...

 

i had a feeling that was coming. jeg's screwed me big time a while back and i wouldn't use them again!

 

Giving folks ideas huh? haha.

 

Some of you guys are acting like the internet doesn't exist. If someone makes a product that Jegs sells, it'll still be available somewhere, just not in a printed book. So what's the difference?

Does Jegs actually make anything themselves (genuine question that I don't know, not trying to be snarky here)?

 

Silly I know but this reminds me of "Pretty Woman". In this movie Richard Gere was a ruthless corporate ass who bought big companies and split them up, making quick money. Only caring about himself and how much money he could make.

 

It's the investment bankers. When they weasle in, the end is inevitable. They are so obnoxious because all they care about is causing a transaction. Doesn't matter if is buying, selling, divesting, acquiring, all they care about is a transaction happens because that is how they get paid. And paid very well I might add!!

 

You got a free hat?

 

I wonder if Jegs will finish out the NHRA Pro Stock season..

 

Let's hope the Harvard Business School goons are not going to run it.

 

Something many of you seem to have overlooked is , they sold a controlling interest , the family is still heavily invested , at this point . Edelbrock did the same thing ,& their company is still around ..

 

But still; with "private equity" being involved, the bottom line becomes the driving force.

 

Wehen I had a couple of projects going several years ago and buying lots of parts, Summit gave me a free jacket!!

 

Took me an order of about 2-2.5k to finally get a sticker.
That said, I’m a fan of Summit.

 

Beancounters seem to always destroy companies, profits above service, then soon comes poor service and no profits.

 

I don’t care what you guys say. I still like capitalism

 

I have a Jegs hat, will it be a collectable soon?

 

Like said above hate to see these companies get chopped up. I’ve worked for companies in the past and seen it happen been in departments that assisted in the whole mess.
But guy’s this is something different I’m afraid it’s world wide and targeted. Do some homework on ESG.

 

It's not. There is not mystery or conspiracy here. I this nothing whatever to do with ESG. Private equity firms are doing this to companies across ALL sectors of industry. Don't get it twisted. It is just greed.

Here's a 13-year-old article on what private equity firms do: https://www.theguardian.com/business/2009/jan/14/private-equity-piles-on-debt

I minored in Economics. This is basic asset stripping.

 

How are fuel prices out there?