The Daily Southerner, Tarboro, NC

Local News

March 24, 2008

Farmtrac puts admin staff back to work

Tarboro company owes more than $14 million

BOB BENEDETTI

An ailing Tarboro-based farm implement company opened its doors last week for business – just enough for a few workers to get a foot inside.

Farmtrac North America has a barebones management and administrative staff back on duty at its headquarters building on 111 Fairview St., according to Jim Marrow, the Tarboro attorney who assumed court-ordered duty as Receiver of Farmtrac on Feb. 27.

On Jan. 18, the Fairview Street location was closed and approximately 180 workers were sent home while company leadership regrouped.

Farmtrac owes more than $14 million in loans and legal fees to secured creditor Textron Financial Corp. of Atlanta and unsecured creditor LS Cable Company Ltd., of Seoul, South Korea.

Marrow has appointed one manager and about 12-13 administrative helpers on the payroll.

Led by Doug Gurkins of Washington, N.C., a property and land evaluator, the group's job is to handle a backlog of parts and limited warranty issues that have been paralyzing the more than 300 Farmtrac dealers nationwide unable to support customers and unable to sell enough goods to keep doors open.

"We needed to create billing and processing mechanisms" to serve dealerships, Marrow said.

Although Farmtrac employees voluntarily gave five to six hours daily during the plant closing in an effort to continue basic parts and phone support, numbers and support fizzled.

Marrow called the effort of up to 20 workers each day "a real show of loyalty" – albeit a disheveled one – likening it to "a Boy Scout troop with nobody in charge" after company management disappeared and "created a void" in leadership.

For dealers across the country, that eight-week gap has eroded confidence so badly, it is questionable if dealers would be willing to do anything beyond offloading Farmtrac goods.

Marrow believes that securing a comprehensive maintenance program with a third-party could be the lynchpin to retain present Farmtrac dealers. Discussions with undisclosed service vendors are underway, but no agreement has been reached.

According to Vice-Chairman and Co-owner Ted Wade of Montana Tractors, who shares Middle Eastern-based Escorts, Ltd. as a parent company, the Springdale, Ark., tractor firm has an interest in "helping" financially ailing Farmtrac by "representing its warranty, parts and service" segments.

During a recent phone conversation with Wade, the Montana Tractor leader did not confirm nor deny direct discussions with Farmtrac executives. Both groups had representatives in New Delhi, India during early March.

Marrow also stressed that quick actions are also critical.

"We will lose a lot of brand value if we let it linger," Marrow said "and the selling season is ending rapidly."

Text Only
Local News
  • Muhammad satisfied with term on council

    Melvin Muhammad said he did what he intended to do during one term on the Tarboro Town Council by stirring up a little controversy. Now, after not seeking reelection,  he's ready to ride off in the sunset.

    May 16, 2012

  • CRIME ROUNDUP

    The following people were charged with crimes by the Tarboro Police Department over the past week. The police also are investigating some incidents where citizens had items stolen from the property.

    May 16, 2012

  • Vidant patient safety coaches: For the love of patient safety

    Did you know that Vidant Edgecombe Hospital has a total of 39 patient safety coaches that represent each and every department in the hospital? These individuals play a vital role in keeping patient safety a main focus at the hospital.

    May 16, 2012

  • Use me.jpg Numbers small, but EMPAC makes impact

    Organizers of EMPAC's 2nd Annual Enrichment Conference at Edgecombe Community College Saturday didn't get the attendance they had hoped for, but a "powerful message" was sent forth just the same.
    Nationally known motivational speaker Kenston Griffin delivered the "powerful" message to approximately 30 people including about 20 males. Serving as a backdrop, pictures of several of Edgecombe County minority male leaders and ministers scrolled across a screen.

    May 14, 2012 1 Photo

  • State to recognize Keihin CST with award Thursday

    On Thursday, Tarboro’s Keihin Carolina System Technology, Inc. will accept  a Level 1-Collaborative award from the North Carolina Awards for Excellence program at North Carolina State University. The ceremony will get under way at 1:45 p.m. in Keihin Auditorium at Edgecombe Community College.

    May 14, 2012

  • Happening on Commons is Saturday

    Lovers of all things art-related — from big band music to Sousa’s marches to arts and crafts, dance and god old rock and roll — will have the opportunity to get their fill Saturday at Happening on the Commons.

    May 14, 2012

  • DOT meeting.jpg Traffic circle design approved

    Members of the Tarboro Master Gardeners met with town and NCDOT representatives to present their landscaping design for the traffic circle at the entrance to the Tar River Bridge on Main Street.

    May 14, 2012 1 Photo

  • ECPS’ new superintendent already being missed

    There’s a measure of sadness in Washington County these days.
    That’s because they are losing their superintendent of three years to Edgecombe County.
    On Wednesday, April 25, John D. Farrelly was named the new superintendent for Edgecombe County Public Schools (ECPS), triggering the reaction from the east.
    “John Farrelly has been good to Washington County,” Lynn West, Washington County Board of Education member, said. “We made some tough decisions, but we have made plenty of progress. I do wish him well.

    May 11, 2012

  • Enrichment Conference is Saturday

    Middle and high school male students and their father or male guardians are invited to the 2nd Annual Enrichment Conference from 9 a.m. until noon Saturday in Keihin Auditorium at Edgecombe Community College .
    Kenston Griffin will be the keynote speaker. Griffin, CEO of Dream Builders Communication Inc., is a motivational speaker who has spoken at universities, Fortune 500 companies and numerous conferences throughout the United States.

    May 11, 2012

  • Pattillo teacher wins national contest

    Tuesday, on National Teacher Appreciation Day, Edgecombe County’s very own Amanda Morris received good news.
    “It’s rewarding to know people in the community have a sense of pride in you,” she said, the emotion welling up in her voice. “I don’t regret at all being a teacher, because I’m blessed to see the positive ways I can impact people lives.”

    May 11, 2012