OK, so remember a little while ago I wrote a story about Crane Cams folding, and how this was bad, in general, but also bad because of the passing of a shade-tree option? Well, turns out that Crane Cams doesn’t like that idea any more than you or I do. There\’s a certain amount of inertia that a company can build up after going strong for 56 years, as Crane has, and when you couple that with the innate competitiveness of gearheads, you could bet these guys wouldn’t go quietly.
So, what\’s up? What\’s on Crane\’s agenda? Well, here\’s the scoop …
Unlike a lot of businesses these days, who look at the balance sheets, see red, and decide to call it a day via bankruptcy rules and courts, Crane looked at the balance sheets, saw red, and decide to use the bankruptcy laws as they were intended. Crane Cams claims it has plans to reorganize and restart operations this month. First off, that\’s very noble of them. Secondly, that\’s a really quick turn around and I hope they can do it that fast. And third, if they are able to keep to that schedule, and you\’re in the middle of that rebuild project, it\’s like you might not even notice they were \”gone\”.
Steve Leva, Crane Vice President said they are having the same financial troubles screwing things up for other automotive suppliers, but they are looking to turn that around, restructure and open as soon as possible. Leva and the rest of the Crane management team is hoping to resume operations in as little as a week, but are targeting sometime this month, which is simultaneously optimistic and pragmatic. Sounds like solid management is in place, if you ask me.
And for us, the gearheads, this means that all is not lost just yet. No, I\’m not saying that this is a sign that \”the economy\” has hit bottom, and is now turning around. What I am saying is that the fears swirling around that one day we\’ll wake up and GM et all will be gone, and all our cars will come from Bangladesh and be these hopelessly underpowered and boring urbo-pods mandated by our communist overlords is just some fevered pipedream of the far right.
This ain’t over yet. Not by a long shot.