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Battery-Maker Exide Files Bankruptcy

Discussion in 'Fred's House of Pancakes' started by gliderman, Jun 12, 2013.

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  1. gliderman

    gliderman Active Member

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    Battery-Maker Exide Files Bankruptcy
    Well-known marine battery maker Exide Technologies filed for Chapter 11 bankruptcy protection Monday in a Delaware federal court.

    Court documents indicate the company has $1.9 billion in assets and $1.1 billion in liabilities.

    "In recent years a number of factors have contributed to a decline in Exide's earnings and liquidity position, ultimately making this Chapter 11 filing a necessary step for Exide to de-lever its balance sheet," the company said in court documents.

    Those factors included rising production costs that cut into margins and the lingering downturn in Europe, which accounts for about 51.2 percent of the company's revenue, court documents showed.

    Loss of Walmart's business, result of intense competition in which the giant retailer signed an exclusive agreement with Johnson Controls, Exide's major competitor, resuled in a $160 million annual loss to revenue.

    Based in Milton, Ga., Exide operates 13 manufacturing facilities and employs about 3,600 people in the United States.
     
    #1 gliderman, Jun 12, 2013
  2. bisco

    bisco cookie crumbler

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    wow, that's shocking!
     
    #2 bisco, Jun 12, 2013
  3. Mike500

    Mike500 Senior Member

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    #3 Mike500, Jun 12, 2013
  4. xliderider

    xliderider Senior Member

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    How reVolting... ;)
     
    #4 xliderider, Jun 12, 2013
  5. bisco

    bisco cookie crumbler

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    :ROFLMAO:
     
    #5 bisco, Jun 12, 2013
  6. Mike500

    Mike500 Senior Member

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    #6 Mike500, Jun 12, 2013
  7. gliderman

    gliderman Active Member

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    Texas doesnt accept companies that are out of compliance any more than SC. A poorly run company is not going to survive anywhere, except when backed by the Federal Government, using taxpayers money.
     
    #7 gliderman, Jun 12, 2013
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  8. Mike500

    Mike500 Senior Member

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    Yeah, it took a private contractor like Eric Snowden to take his oath to protect Government secrets seriously.

    He became prosecutor, judge and jury on what was appropriate to release to the public.
     
    #8 Mike500, Jun 12, 2013
  9. FL_Prius_Driver

    FL_Prius_Driver Senior Member

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    Same was true of Ronald Ridenhour.
     
    #9 FL_Prius_Driver, Jun 12, 2013
  10. ny_rob

    ny_rob Senior Member

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    Hmmmm....
    Just bought two Exide marine batteries at BJ's last week for the boat.
    Wonder how they'll (BJ's) handle warranty issues in cases like this if Exide goes out of business?
     
    #10 ny_rob, Jun 13, 2013
  11. Mike500

    Mike500 Senior Member

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    Exide is in Chapter 11, not Chapter 7. Chapter 11 is reorganization, not liquidation. They will still be in business.
     
    #11 Mike500, Jun 13, 2013
  12. ny_rob

    ny_rob Senior Member

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    Yeah- I understand they're in Ch 11, I'm wondering what happens if things go down hill from there and they go under. Back in the 80's I worked for a co that went ch 11, a little over a year later they went completely out of business. I have to take a look at the warranty on the two batts I just bought last week (haven't installed them in the boat yet) if there's a 3 year warranty I'm going to question the Cust Svc people at BJ's this weekend to see what their policy is in such situations. I might end up returning them depending on their response.
     
    #12 ny_rob, Jun 14, 2013
  13. Mike500

    Mike500 Senior Member

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    From my experience, basically, battery warranties are worthless, anyway. Usually there is a on or two year full replacement warranty and the rest is pro-rated.

    If a battery last a year, it would more likely than not, last at least 3-4 or even more.


    I hate pro-rated warranties.

    If you bought a battery with either the Sears or WalMart brand name, they would have to honor it.

    When K-Mart was in almost every town across the US, I bought from them. When I lived in Houston, I took a trip to New Mexico. The battery went South. I got a replacement at the local K-Mart.

    That's why I now prefer to buy the WalMart brand. The warranty is worthless, if you can't get a local replacement.
     
    #13 Mike500, Jun 14, 2013
  14. gliderman

    gliderman Active Member

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    Friend in the battery business told me that most all batteries from a manufacturer are all from the same line, no difference in 2 or 4 year batteries, for example. You are only paying for warranty. Nobody knows how long they will last, some 2, some 6 years. So the warranty is just a sort prepaid replacement policy. With diminishing value.
     
    #14 gliderman, Jun 14, 2013
  15. bisco

    bisco cookie crumbler

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    i wonder if the fed has any bailout money left? think of the lost jobs...
     
    #15 bisco, Jun 14, 2013
  16. ny_rob

    ny_rob Senior Member

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    Well my current boat batteries are from Sept 2007, so they lasted 5 seasons- I think they're still OK, but I don't feel comfortable going out on the LI Sound with two six year old batteries.
    I'm concerned that if one of them fails within the two year non-prorated period and Excide goes belly up- I'm basically SOL at that point!
    Funny thing is- our local BJ's shares a parking lot with a WalMart.. so I may just return the two Excides and buy replacements at WalMart.
     
    #16 ny_rob, Jun 14, 2013
  17. Jon Hagen

    Jon Hagen Active Member

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    Sad news. I dont use the Exide flooded cell batteries, but I do like the Exide Orbital, a spiral cell AGM clone of the Optima battery. I have a dozen that are 10 + years old and still strong. I have not bought an Optima red top starting battery for years, because the Exide orbital was as good performing and $20-$30 cheaper. Now Optima has taken a big price jump. Last I looked a few months ago they were(red top) $185 at Sams club, while the last Exide Orbital I bought was $150.(2-3 years ago, so they also may have seen a price increase.)
     
    #17 Jon Hagen, Jun 14, 2013
  18. Mike500

    Mike500 Senior Member

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    The biggest killers of batteries is heat and deep discharge (even for those designed as "deep cycle). I had a friend who had two 12 year old Optimas on his boat. For the first couple of years, he didn't put a maintainer on then during the Winter. They left us once stranded on the Chesapeake Bay. I taught him how to "rope start" the outboard.

    For the next 10 years, he put a battery maintainer on them. I made sure that he got weak ones that never went above 12.5 volts, although some are specially made for AGM batteries that went.

    When h sold the oat with the 12 year old Optimas, they were still good.


    I recommended the lower voltage chargers, because overcharging creates hear and boils away the water in the electrolyte.

    I'm NOT an expert, but I know what works.
     
    #18 Mike500, Jun 14, 2013
  19. Jon Hagen

    Jon Hagen Active Member

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    Thanks for the tips. Yes, I use 4 battery charger / maintainers that say they are specifically designed to be safe for AGM batteries. I rotate them through my fleet of equippment in the off season (about 25 units) so they get a few days on the charger / maintainer about once per month.
     
    #19 Jon Hagen, Jun 15, 2013
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  20. Mike500

    Mike500 Senior Member

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    You're very welcome.

    If you fully discharge a battery, recharging it with the 60 amp alternator in a car doesn't help to preserve battery life, either. A fully discharged battery is best charged slowly at 3-5 amp rate.
     
    #20 Mike500, Jun 15, 2013
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