Foretravel, Inc. - Page 4

                                                  - 4 -                                                    
            motor homes.  Foretravel remained a family business until 1971,                                
            when Mr. Fore, along with his friend Moore, quit their jobs and                                
            went to work full time for Foretravel.  Franklin also joined                                   
            Foretravel about that time, and Foretravel began advertising in                                
            travel magazines while the Fores attended recreational vehicle                                 
            shows to display Foretravel coaches.  As petitioner's coaches                                  
            began to gain popularity, its salespeople sold coaches to                                      
            existing vehicle dealerships and directly to customers.  By 1977,                              
            35 to 45 dealers were selling Foretravel coaches, and Foretravel                               
            was making approximately 500 coaches a year.  From its inception,                              
            petitioner sought to build a high quality coach with top quality                               
            components.  Petitioner carved out its market niche of expensive,                              
            high quality coaches for the affluent traveler who enjoyed                                     
            extended vacations.  Petitioner sponsored regional clubs that                                  
            offered courses in motor home maintenance and organized domestic                               
            and international caravans for motor home owners.  During the                                  
            years in issue, the Foretravel Motorcade Club had over 2,000                                   
            active members.                                                                                
                  Petitioner suffered setbacks in the late 1970s due to the                                
            1978 "energy crunch" and high interest rates.  These factors also                              
            affected independent dealers' interest in stocking Foretravel                                  
            coaches and, as a result, only two independent dealers continued                               
            to sell Foretravel coaches.  Petitioner's sales fell below the                                 
            anticipated level of production, and petitioner had to lay off                                 






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011