Is Eldebrock toast?

[MAC71Cheyenne]

News feed says Eldebrock is shutting down its Torrance headquarters and laying off all staff in every department!

This post was moved from the message board, (Thanks n my apologies) Didn't look where I was before spouting off.

[siggyfreud]

If I had to guess I'd say they're preparing to sell.

[MikeB]

This may have been in the works for a while. Looks like they formed a joint venture with Comp and are moving to Olive Branch, MS just south of Memphis, TN.
This is from March 2020:

http://m.desototimes.com/business/co...08c044cfd.html

When searching for info on Edelbrock (not Eldebrock) I also read that Fox Racing relocated their HQ from Southern CA to Gainesville, GA. They have been making motorcycle and off-road vehicle parts for 50+ years, and are famous for their shocks.

Won't be long before the looney politicians out there won't have any businesses left to over-tax and over-regulate. Last company to leave CA, please turn out the lights!

[Axle]

Originally Posted by MikeB

This may have been in the works for a while. Looks like they formed a joint venture with Comp and are moving to Olive Branch, MS just south of Memphis, TN.

From here; https://freerepublic.com/focus/f-news/3930281/posts

She didn’t reveal how many displaced workers, if any, might be shifted to that location. Edelbrock is owned by Evanston, Ill.-based Industrial Opportunity Partners, which also declined to discuss the Torrance closure.

Investment group owns them, and a bunch more companies. So, shareholders probably consolodating their various acquisitions.

[Boog]

Buying up by investment groups. This seems to be happening more and more these days. Well established older companies are selling out to those groups promising better buying power and company performance improvements while they are actually just dressing them up to sell them again.
For example: The very successful family owned chain of lumber companies since 1971 I worked for 29 years was sold in 2017 to a larger group of lumber companies. The founder retired and the new owners began to make changes dumping lots of cash into it. Now evident they were dressing it up to go IPO and at the last moment pulled that public offering to announce the sale of the entire group of lumber companies (over 35 different lumber companies across the nation ) to an investment group as of November '20.
Sort of like flipping houses or cars.

[71step35035012C10S]

http://m.desototimes.com/business/co...08c044cfd.html

This article says it’s some type of merge with Comp cams?

[ChevyRacefan]

Why they did not leave 25 years ago, is beyond me.
Staying in a state that won't allow your product to be used on 90% of the vehicle fleet in the state. I would have left along long time ago.

[REDROCKER652002]

Not car related, but I believe Google, Facebook and Oracle are all moving out of California as well. I cannot wait until I can retire and get the hell out of here too. They tax you to death here and give it to the drug addicts and homeless.

[72GreenMonster]

And no more gas burning v8's by 2035

California has a mass exodus of industries leaving

[wesmigletz]

I used to drive by their HQ in Torrance. I’ve owned a lot of Edelbrock intakes and heads over the years. I miss the So Cal car scene and weather, but that’s about it.

[MAC71Cheyenne]

If they are bailing on sunny California I can't say I blame them.

[FleetsidePaul]

Originally Posted by MAC71Cheyenne

If they are bailing on sunny California I can't say I blame them.

Me either. And I've lived in California my entire life. Born and raised here.

The taxes and regulations are out of control. I just paid $368 for registration on my 1991 Cadillac and my 71 truck was about the same.

Edelbrock would be smart to move to a more business friendly state. I would.

I can't imagine the nonsense that they had to put up with here to make parts for those evil internal combustion engines.

[MikeB]

Originally Posted by wesmigletz

I used to drive by their HQ in Torrance. I’ve owned a lot of Edelbrock intakes and heads over the years. I miss the So Cal car scene and weather, but that’s about it.

I lived in San Pedro a few blocks from the ocean in the late 60s-early 70s. So Cal was an absolutely great place to be for gearheads, with Lions Drag Strip, Orange County International Raceway, Ascot Speedway, Riverside Int'l Raceway, and more.

There were dozens of speed parts manufacturers there, as well as makers of dirt bike performance parts. Many, if not most, had retail stores out in front. I still remember walking into the Erson Cam store and buying a camshaft.

Can't forget the beaches or the short drive up into the mountains for great views, and to cool down on a hot summer day. Wonderful place back then.

[The Rocknrod]

Ya I was in the Over the Hill Gang San Diego for many years, loved the rodding scene but I just couldn't take it anymore. Many, many companies are making the exodus out of there and I too don't blame them.

[54blackhornet]

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It’s a shame what happened to CA ! ...

[FleetsidePaul]

My wife and I drive through California City from time to time.

California City was supposed to be the new Los Angeles. It never happened. All the infrastructure is there to build homes. Miles of empty streets. Ready to go.

My wife asked me why.

It simple. No jobs. If someone wants to build or buy a home then they usually need a good job. And there's nothing there. So all that land just sits. It's been like that for 30+ years.

If you could build some large factories in that area then people would come for work. It would turn things around. But that's certainly not going to happen in California. No one is going to build a factory here.

[LockDoc]

-
Remember if it gets too political the thread will be closed....

Thanks,
LockDoc

[MikeB]

Originally Posted by LockDoc

-
Remember if it get too political the thread will be closed....

Thanks,
LockDoc

OK. I'll change "looney politicians" to "unwise".

[67ChevyRedneck]

Originally Posted by FleetsidePaul

My wife and I drive through California City from time to time.

California City was supposed to be the new Los Angeles. It never happened. All the infrastructure is there to build homes. Miles of empty streets. Ready to go.

My wife asked me why.

It simple. No jobs. If someone wants to build or buy a home then they usually need a good job. And there's nothing there. So all that land just sits. It's been like that for 30+ years.

If you could build some large factories in that area then people would come for work. It would turn things around. But that's certainly not going to happen in California. No one is going to build a factory here.

You weren't kidding... and it's not just a few city blocks, its MASSIVE. As a civil engineer, I've never even seen anything on this scale. Running street view the few homes/businesses there look old and run down.

This is just a small section. Anyone interested... just google map California City, CA.

As most everyone else has noted, my wife and I really enjoyed our trips out to CA, even considered moving there a few years ago (wife even interviewed at a vet clinic while we were out there on vacation) but the beauty and lifestyle just aren't worth it anymore. The math just didn't make sense then (2015) and it's even worse now. We're pretty well off in SC, should even be able to retire quite a bit early... I'd be paying off my house in CA until I died.

[FleetsidePaul]

Originally Posted by 67ChevyRedneck

You weren't kidding... and it's not just a few city blocks, its MASSIVE. As a civil engineer, I've never even seen anything on this scale. Running street view the few homes/businesses there look old and run down.

This is just a small section. Anyone interested... just google map California City, CA.

As most everyone else has noted, my wife and I really enjoyed our trips out to CA, even considered moving there a few years ago (wife even interviewed at a vet clinic while we were out there on vacation) but the beauty and lifestyle just aren't worth it anymore. The math just didn't make sense then (2015) and it's even worse now. We're pretty well off in SC, should even be able to retire quite a bit early... I'd be paying off my house in CA until I died.

Yeah. California City is a nice place to visit if you want to get depressed.

But they do have a McDonalds there.

Property is stupid expensive here. I watch what my rental house in So. Cal is worth and I wonder how anyone could afford it. It's only 1400 sq. ft. and it's at $675,000 I own it but I couldn't afford to buy it now.

[Boog]

Wow. If the housing market tipped downward would you try to unload it or continue to just sit on it until such time as you could no longer take care of it?

[davischevy]

The great exit is showing up here.

Our U-Haul dealer has the lot full of trucks and has trucks on off site lots. People are moving here and nobody is taking them back out.

For years our real estate market has had between 500-600 homes for sale at any given time. Last week there were under 70 houses in the entire market and they are over priced. For the first time in my 50+ year building career, houses are bringing over asking price.

Nothing is at face value any more. I wrote what I thought about investment companies, but I deleted it.

[67ChevyRedneck]

Originally Posted by FleetsidePaul

Yeah. California City is a nice place to visit if you want to get depressed.

But they do have a McDonalds there.

Property is stupid expensive here. I watch what my rental house in So. Cal is worth and I wonder how anyone could afford it. It's only 1400 sq. ft. and it's at $675,000 I own it but I couldn't afford to buy it now.

I watched a few short youtube videos on it. Neat story. The guy that had the idea made out like a bandit because at one point, all of the land had pretty much sold, but as the years and decades passed the vast majority of people never moved out there, let their taxes lapse, and now the state owns most of it. It's unreal to me how massive it is. It's the 3rd largest city in CA by land size. I did find a few nice pockets of home on google maps. Looks like Honda has a proving grounds near by and theres a few other places to work at near by.

[FleetsidePaul]

Originally Posted by 67ChevyRedneck

I watched a few short youtube videos on it. Neat story. The guy that had the idea made out like a bandit because at one point, all of the land had pretty much sold, but as the years and decades passed the vast majority of people never moved out there, let their taxes lapse, and now the state owns most of it. It's unreal to me how massive it is. It's the 3rd largest city in CA by land size. I did find a few nice pockets of home on google maps. Looks like Honda has a proving grounds near by and theres a few other places to work at near by.

It's funny how a lot of cities have the little pockets of nice homes. I've worked in ghetto's. Turn one corner and you don't think you're in the same city. Beautiful well kept homes. Go to the next block and it's a slum again.

I've passed that Honda place a bunch of times. I never knew it was a proving ground. Just a whole lot of solar panels. It's a nice facility but I've never seen anyone there.

[FleetsidePaul]

Not trying to get political Leon. It just breaks my heart when I see the broken dreams.