1.0
Nov 28, 2018
Anonymous employee
Former employee
Recommend
CEO approval
Business Outlook
Pros
No Pro's these guys stink.
Cons
They do not want sales people to make any money. They also use a 20 year depreciation cycle to a 50% residual for their assets... I have been doing this a long time and never have i seen a trailer built 20 years ago worth 50% of the original cost... That said, they use this ridiculous calculation to borrow money from banks in the form of an Asset Based Lending agreement... I do not understand why this is not criminal as it is essentially fraudulently misrepresenting the worth of the assets they are borrowing against... It is akin to me borrowing 20K using my car as collateral, but my car is only worth 5k... and they are doing this to the tune of a couple BILLION dollars... House of Cards...