RE: Is hoyt going out of business?
sorry to tell you guys alot of company's go out even when they look like there going strong. Look at enron.
I doubt it but it could happen. look at the markets today some of those companies lost millions on there stocks alone.
Now for the warranty issue depends if they go under I.E bankrupt your screwed. A guy tried to sell me some tools said they have a lifetime warranty but the company was a no name head for the paper shredder i said if they go away who replaces the stuff no one. But if there bought out by another company say pse or bear they would be required to keep the warranty good.
A friend of mine had is credit card stolen for 6000. They still have not took it off. The bank was just bought out by another bank. He said well there goneso now i owe them nothing. Not true When you buy another company you buy the assets and debts. Thats what has causes the morgate issues.
Say i give out 5 millon in loans at 10% a year. In10 years that 5 millon turns into10then in a 10 more years it is15 millon. So i go to a bank tellthem i have 5 million in loans that will be worth15 in30 years.they pay me 12 millon for these loans. Thenthey take over the loans and the people whoi gave high risk loans to and who are paying more then what the house is worth and what they can afford go bankrupt. Then thebank has houses that are worth 5 millon that people lost but they paid 12 million for them expecting the people to pay there loans plus the 10%. The bank losses 7 millon at first then try to sell the houses that flood the market and drop the over all value by 30% now they loss 30% of the 5 million again.
These are the people were giving money to.
Any company can go under just depends on how they spend or invest there money.