I don't see that it's any different than any other bankruptcy from corporate's point of view... or mabey I should say not much different. The only difference is the territory that would not be covered if nobody stepped in to cover it. In my view the most likely scenario here is that a receiver would be appointed to manage in continuum until the courts could sort it out... CNH would receive their floor plan back because it's secure, Wells will be left to choose their next managing partner and do a dance while jockeying back and forth for the tub of Vaseline, the employees will lose their pensions if they had any... and the rest will continue on, business as usual except they'll probably knife a bunch of underperforming stores. The lenders will have to decide whether they want to really recoup a little bit of their money now by forcing a sale of used equipment on a falling market... or mabey sitting and waiting for the sun to reappear... What is clear in my mind is that someone WILL step in to run this chain one way or another because there IS a significant opportunity there for someone at a certain price... SHOULD that eventuality ever take place... which I'm not too sure it ever will. CNH, for the most part... I don't think gives a tinkers damn who run the thing as long as somebody has a sign up with their name on it. There's no downside for them in having secure new stock in their name and overvalued used in Wells Fargo's pocket... or the shareholder's pocket. That's really just about the perfect scenario... somebody else take the bath without flooding the market.
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Today's Featured Article - The River Tractor - by Charlie English Jr.. This is a 4010 John Deere that was used to farm on the Diamond Island which is in the Ohio River about 15 miles southwest of Evansville, Indiana. About ten years ago, this tractor was parked close to the bank as the river was washing the bank of the island away.
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