LIQUIDATION AND SALE TO

S&S CYCLE, VIOLA, WISCONSIN

On February 25 of 2009 the local news paper in Daytona Beach, Florida published a story about the closing of the 56 year old auto parts manufacturer Crane Cams. The newspaper blamed it on the economic conditions.

The TRUTH is the Wachovia Bank forced the closing because of the Crane employee payroll bank account was no longer being funded.

Here are OTHER TRUE FACTS!

This firm was founded on January 1, 1953 by Harvey J. Crane, Jr. as Crane Engineering Company. In 1963 the firm was Incorporated as Crane Engineering, Incorporated. A new employee was sold 20 percent of this new corporation.

Later in anticipation of going public the name was changed to Crane Cams, Incorporated.

In 1986 the firm along with 55 friends and employees were moved to Daytona Beach, Florida and Harvey J. Crane, Jr. announced to the all the employees that he was taking his first real vacation and left for Alaska with his wife Maxine in their 37 foot Beaver motor home and was gone for three months. Harvey returned to work and for 40 hours a week continued to provide the technological leadership to this firm with over 300 employees.

On January 24 of 1989 the executive group voted to FIRE Harvey. At that time Harvey owned only 17 percent of the firm. The Employee Stock Ownership Trust (ESOT) had been buying Harvey's stock and GIVING THIS STOCK TO THE EMPLOYEES AS AN ANNUAL BONUS & PROFIT SHARING !

17 years later the "ESOT" sold the firm to Mikronite Technologies.

2 1/2 years later Mikronite management laid off most of the employees.

The final chapter of this Mikronite/Crane Cams, Incorporated ownership was started on Wednesday, the 22nd of April 2009, when a LIQUIDATION AUCTION was held in the Crane Cams building.  This auction was also webcast on the internet by LiquiTec.net of Mequon, Wisconsin.

The purchaser of the Crane Cams and Crane's "intellectual property" was S&S Cycle of Viola, Wisconsin.

The official bidder's name was Anders Stubkjaer, the chief financial and operating officer of S&S Cycle.

UPDATE 1 - 13 June 2009

The owner of the property that was leased to Crane Cams (Mikronite) located at 530 Fentress Boulevard in Daytona Beach, Florida, told S&S Cycle to vacate the building and parking lots by Friday PM, June 22nd.

On Thursday, June 21st there were more than 22 cars and 10 trucks in the rear parking area loading items purchased by S&S Cycles!  It is believed that these items are still located in the Daytona Beach area.

UPDATE 2 - 29 August 2009

I have been driving to the Fentress Boulevard location of the original Crane Cams/Mikronite building several times a week to log the number of cars and trucks in the rear and front parking lots. On most days the rear gate is closed and the front parking lot contains a single car.

On the fourth of August, things were busy. The rear gate was open and a big tractor/trailer was being loaded with very large (100 gallon?) plastic containers of SEWER WATER. The front area contained a large tanker truck pumping the sewer lines.

The city of Daytona Beach had found dangerous chemicals in the sewer water and capped the drains. The owner of the building had hired a firm from Tampa Florida to "clean up the mess".

Finally, the water to the building could then be turned on. On the 13th of August trucks in the rear were removing the "PORTO POTTIES" that had been rented to serve the few employees and visitors.

The 530 Fentress address now has a sign out front saying "AVAILABLE" ! The sign is by CBRE.COM with a phone number of 386-986-0265 with a name of Erik Poole as a contact person.

While I searched the internet for information on the "NEW CRANE CAMS" I found the following. Crane Cams / S&S Cycle is now located at 1640 Mason Avenue in Daytona Beach, Florida. When I drove to this location, which is only about one mile from the old location, I found an empty industrial building. But, driving into the parking area I found at the rear, in Unit 180, several cars belonging to the old Crane Cams employees.  The new phone number is 386-628-0197. The web site cranecams.com now has several e-mail addresses.

THIS STORY IS STILL NOT OVER!

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RICHARD WANTED TO MOVE TO CALIFORNIA, SO THE MOSER ENGINE ASSETS WERE SENT TO THE ORANGE COUNTY CALIFORNIA BUILDING HOUSING HARVEY'S WESTERN SALES AND SHIPPING OPERATIONS.

MORE THAN 30 SETS OF HEADS WERE SOLD TO THE PUBLIC BEFORE THE FIRM WAS SHUT DOWN.

IN THE EARLY 1990'S HARVEY J. CRANE, JR. PURCHASED FROM HIS EX COMPANY, THEN LOCATED IN DAYTONA BEACH FLORIDA, ALL THE MOSER ENGINE INVENTORY, INCLUDING RICHARD MOSER'S ORIGINAL VELIUM DRAWINGS.

THESE MOSER ENGINE ASSETS ARE ON SHELVING IN HARVEY'S AIRCRAFT HANGER, LOCATED BEHIND HIS HOME IN THE SPRUCE CREEK FLY IN COMMUNITY, LOCATED IN VOLUSIA COUNTY, 10 MILES SOUTH OF THE CITY OF DAYTONA BEACH FLORIDA.