thats what i was thinkin E>D> but he wanted $600.00 beat him down to $200.00 left an offer of $ 125.00:eek:

http://money.cnn.com/galleries/2010/..._rates/10.html



Matco tools back on top!!!!!!!!

.:lolhit::lolhit::lolhit::lolhit::evilb::evilb::ev ilb::evilb::evilb:

I think I have at least one of every tool brand.. lol

For me the SnapOn screw drivers are a must. I like the craftsman pro 3/8 flex drive better than the snapon flex. I like the gearwrench open end set Sharkey hooked me up with last year. and my craftsman stuff has its place in the tool box as well as even some harbor frieght and chicago stuff.

As far as a toolbox goes, call me cheap, I just never saw the value of a high end box. Plus, when I was shlepping around on boats we worked in the field and the tool box stayed in the shop... My plastic Plano box was a definite necessity.

Yeah man we beat Quizno's by over 10%.

I really hope everyone realizes I am being very sarcastic. I am a Matco distributor.

Failure rate: 36%
Tool manufacturer and distributor Matco is the riskiest investment on the top-10 "most popular" list, with more than one third of its SBA-backed loans going bad.

That's an older aviation specialty set. Mostly made for avionics and instrument panel work.

This has been a good thread, Having bent wrenches for 20 yrs I have quite a collection of the big 4. What blows peoples minds the most are the two purple Matco street rod editions setting side by side. I found that having 2 or3 of each brand that breaks the most ( impact wobblies) I can grab another & keep going, working on commision time is money. I like my Matco boxes because they are built very well but service wise I have 2/3 snapon 1/3mac 1/3 matco. Also craftsman for the truck & boat. I added ratchet wrenches to both of them cause they are the bomb.

Small business loans may be Wall Street’s new cesspool.

A suit filed yesterday in New Jersey federal court alleges that TD Bank and franchise distributor Matco Tools were complicit in underwriting hundreds of fraudulent small business loans over a four-year period dating back to 2003.

In their suit, David Villano III and his father, David Villano, Jr., claim that Matco, a subsidiary of publicly traded Danaher Corp., and TD Bank established a scheme to dupe “unsophisticated borrowers” into signing loans that were destined to fail.

The suit alleges that Matco doled out inflated annual performance projections to Cherry Hill, N.J.-based lender Commerce Bank, which was acquired by TD four years ago, in order to get a Small Business Administration loan approved.


Alamy
Matco Tools franchisees allege they were victims of a financial fraud involving the company, a unit of Danaher Corp, and its lender, Commerce Bank.
“Matco’s upper management . . . devised a scheme to secretly make income projections to TD and other SBA lenders that would only be disclosed to the SBA lender,” in order to satisfy the bank’s lending criteria, the suit alleges.

Matco established the system to grow its franchise business, and Commerce Bank officials rubber-stamped the SBA loans because it allowed the bank to collect interest on the doomed debt until it eventually imploded, the suit claims.

The bank turned a blind eye to the inflated projections, according to the suit, because SBA loans are guaranteed by the government with as much as 90 percent of the losses covered.

Loans to Matco franchisees had an unusually high default rate of 37 percent at the time that one of the plaintiffs’ loans was underwritten in 2004, according to the suit.

“It’s unfortunate that SBA loans, which are designed to assist aspiring entrepreneurs and benefit the economy generally, could be used for such deceitful purposes,” said Jerry Marks, an attorney at Marks & Klein representing the Villanos.

A spokeswoman for TD declined to comment, and a Danaher representative could not be reached.



Read more: http://www.nypost.com/p/news/busines...#ixzz1dv4OjpRH




ROCK ON !!!!!!!!!!!!!!!!!!!!!!:coolcowboy:
ITS A SKATER NATION !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:drink:

The most amazing thing about this to me is that Matco was ever even ABLE to somehow get the SBA to work with its dealer force.

Being a super cash rich company that started it all, Snap-On to this day even in the good economy could never get SBA backing for its prospective dealers regardless of their credit.

I never had any idea that Matco guys could get SBA money. Shocker!

http://www.bluemaumau.org/files/Fina...-11_0.pdf:eek:



ROCK ON !!!!!!!!!!!!!!!!:coolcowboy:
ITS A SKATER NATION !!!!!!!!!!!!!!!!!!!!!!!!!!!:drink: