Is Mfg.com going bankrupt/up for sale
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  1. #1
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    Default Is Mfg.com going bankrupt/up for sale

    I heard Mfg.com is up for sale from one of my customers the other day. Is this true or is it just some goofy rumor?

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    LOL. I don't see how they would bankrupt. They operate nearly free and charge a ridiculous amount. I posted recently in the CNC area as we were pretty much banned for not following buyer procedures.... Feel sorry for the bastards that are paying there because we were going to award 5 part numbers.

    They seem to think it is their responsibility to "validate" my existence for their customers and all it is doing is running me out the door. That other one on the web did the exact same thing and you can see what happened to them..... NO BUSINESS!!!! Morons.....

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    Quote Originally Posted by rb07565 View Post
    I heard Mfg.com is up for sale from one of my customers the other day. Is this true or is it just some goofy rumor?
    I poked around & found this:

    Mfg.com Reviews | Glassdoor

    Paul

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    Sounds like the race to the bottom may have caught up with them.

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    So sad, couldn't happen to a nicer company!

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    Like previously said, how could they go bankrupt? They operate out of an office and from the posted link the annoying salesmen can work from home and probably are paid commission only. There is practically no fixed overhead other than a small office, maintaining a server and paying for bandwidth. If it gets real slow they could give up the office and base it at the owner's home. I am afraid MFG will live as long as the owner does.

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    Quote Originally Posted by huleo View Post
    LOL. I don't see how they would bankrupt. They operate nearly free and charge a ridiculous amount. I posted recently in the CNC area as we were pretty much banned for not following buyer procedures.... Feel sorry for the bastards that are paying there because we were going to award 5 part numbers.

    They seem to think it is their responsibility to "validate" my existence for their customers and all it is doing is running me out the door. That other one on the web did the exact same thing and you can see what happened to them..... NO BUSINESS!!!! Morons.....
    So exactly what did you do to violate buyer conditions??

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    Quote Originally Posted by gooddoug View Post
    So exactly what did you do to violate buyer conditions??
    We have not sourced too many things there but when we did, we found a supplier via quoting and we followed up with them, wrote a PO, and worked with them directly. Apparently we are supposed to "award" on their site and such and they "require that we award stuff". I would consider that the same as walking into a store with someone standing at the door saying "you are required to buy something".

    I am not going to be placed in a position, not even knowing WHO is quoting, to automatically agree to give them work.

    A family member sourced some private work there, something like 50 turned components. When they came in, the work was horrid!! If I had to estimate, work was done on a bench top lathe with tooling from harbor freight. certainly not CNC turned as quoted.

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    Quote Originally Posted by Dualkit View Post
    Like previously said, how could they go bankrupt? They operate out of an office and from the posted link the annoying salesmen can work from home and probably are paid commission only. There is practically no fixed overhead other than a small office, maintaining a server and paying for bandwidth. If it gets real slow they could give up the office and base it at the owner's home. I am afraid MFG will live as long as the owner does.
    It is easy. They just have to have more in bills than income. You are assuming they are operating with only the essentials. For all we know they could have a hefty payment on a million dollar line of credit that was used to buy an airplane.

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    Overhead can kill anything.

    I had given "them" a try when it was Thomas Register. My salesman made the mistake of guaranteeing me a certain amount of awards...that's off track.

    Anyway, we got out of Thomas around the time MFG was taking over. My guess they paid a handsome amount for the working business. We where allowed to use the sight for a trial basis to lure us back in...but it was the same crap...quote your butt off. The award always seemed to go to somebody that quoted job for less then I could buy raw materials for.
    It was a race to the bottom as said before... I tried outsourcing a few jobs...but nobody was guaranteeing their work.

    Oh, the overhead statement...I assumed MFG bought out Thomas Register and had a payment.
    Last edited by SIM; 02-09-2015 at 07:51 PM.

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    Quote Originally Posted by SIM View Post
    ...I assumed MFG bought out Thomas Register and had a payment.
    WOW. Buying a company whose entire stock in trade is a database IN PRINT and updated only annually. Who would think they could make something out of that? I admit to being a bit slow to catch on to the potential of the Internet but even I could figure out that the eight-foot shelf of big green books was doomed when they tried to sell me a disk for the same price as the books. Why would anybody need a directory of companies or a dedicated brokering website when there's Google? The whole advantage of the Internet is that you can make direct contact with a potential supplier. If they are behind a wall and the contact is thru a third party you don't want to deal with them.

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    We made the mistake of buying a 1 year subscription to MFG.com (mfgquote.com) back around 2006. What a JOKE! Obviously it hasn't gotten much better now than it was then. I lost most of my bids to companies that could apparently make complete parts for less than I can buy material for. I only received two awards in 1 year's time.
    I only quoted work that was slated for American companies and only fit our machines. It wasn't like I was quoting nickel and dime work for a sweat shop.
    Then I got hounded by their salesman for 3 years following the end of our subscription.

    It's amazing to me, how such a brilliant idea of setting up suppliers with buyers could fail.

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    Quote Originally Posted by Oldwrench View Post
    WOW. Buying a company whose entire stock in trade is a database IN PRINT and updated only annually.
    Sounds like the Machinery's Handbook.... except for the updating part.

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    If the investors are getting impatient (which I am sure they are) it might be up for sale:

    MFG.com Raises $26 Million From Fidelity Ventures, Goes After Alibaba | TechCrunch

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    Over the decade and half PM has been in existance it seems like every time the subject of MFG.com comes up, with perhaps one exception, everyone that has tried them has pretty much zero results and hates the company. So over the years I am mystified how can a company where it seems like 98 percent of subscribers have no good results, not only keep going, but thrive ? (that's the impression from the link in post 14 anyway)

    Now I'm wondering if the whole thing wasn't a Ponzi scheme in reality. Maybe not intentionally, but that might be the end result really....thriving based on a continuious flow of new subscribers as the dissatisfied ones drop out. But eventually the potential new subscriber base simply runs out and the whole thing collapses ? I could be completely wrong about that of course....but would sure make sense if that was the case.

    Or maybe I've just seen too many episodes of the TV show American Greed....

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  22. #16
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    Quote Originally Posted by Milacron View Post
    Over the decade and half PM has been in existance it seems like every time the subject of MFG.com comes up, with perhaps one exception, everyone that has tried them has pretty much zero results and hates the company. So over the years I am mystified how can a company where it seems like 98 percent of subscribers have no good results, not only keep going, but thrive ? (that's the impression from the link in post 14 anyway)

    Now I'm wondering if the whole thing wasn't a Ponzi scheme in reality. Maybe not intentionally, but that might be the end result really....thriving based on a continuious flow of new subscribers as the dissatisfied ones drop out. But eventually the potential new subscriber base simply runs out and the whole thing collapses ? I could be completely wrong about that of course....but would sure make sense if that was the case.

    Or maybe I've just seen too many episodes of the TV show American Greed....
    I think all the fortune 500's use it to whore out the U.S. overseas and that is how it is staying in business... for now anyway.


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