# SENCO went Bancrupt...enter private equity firm



## FEDSAWDAVE (Jan 1, 2009)

Sign of the times, Sencorp filing Chapter 11 then bought out of bancruptcy by a private equity firm. Good, bad, don't know?

Neither do I. Guess there was no Washington bailout for the staple & nail folks.


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## a1Jim (Aug 9, 2008)

Hard to believe


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## FEDSAWDAVE (Jan 1, 2009)

Actually after digging a little deeper I guess there was a little bailout involved as Bank of America is backing private equity in the short term on this.

Google Cincinnati Enquirer and then type in Senco. Scathing letters from what seems to be people on the inside of Senco commenting about arrogant management who were against change and who thought blowing out seasoned employees was the way to save cash vs taking on a changing global economy. Used two have to regional Ohio plants making all things Senco but lets blow out 600 and make it over there.

I'll have more to say on their arrogance ("we are Senco afterall") a little later.


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## GMman (Apr 11, 2008)

FEDSAWDAVE ….Hope your not going bankrupt


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## FEDSAWDAVE (Jan 1, 2009)

I'm not Senco…


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## GMman (Apr 11, 2008)

That is good I was waiting for a message from you re: 10in. saw blade


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## GMman (Apr 11, 2008)

You still on FEDSAWDAVE


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## GMman (Apr 11, 2008)

Well FEDSAWDAVE I guess you don't know me anymore I was sure I had a Buddy but I guess not.


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