Page 131 - Peterson 85 Years and Going Strong

We do what we say
If you would have asked me what the possibility percentage of pulling this off, at any point in this process, I would have told you it’s not possible, but we’re going to give it our best shot.
– John Krummen, executive vice president & general manager, Peterson Power Systems
“Oh, that’s why there’s twenty people on this phone call from Tigris,” the judge interrupted. “Well that’s starting to make sense now.”
“Yes, Tigris is the end user, sir. We have their en- gines locked up in this bankruptcy. Some of them need to be packaged. Some are ready to go. We’re on a very tight deadline. If we don’t get them de- livered on time, we’re facing significant penalty fees.”
“And how do you plan to pull this off ?” the judge asked.
“We have trucks all lined up there with a crane ready to go. We just need permission to go in.”
From there, Krummen proceeded to lay out his plan.
“We propose that Peterson pays the court the full
amount we owe Koontz-Wagner7,” said Krum-
men, which was roughly $3 million. “In exchange, you let us pull out all our engines and in-progress work so we can meet our deadline.”
The judge nodded, listening.
“When you’re done with your investigation and you go through my report and see the pictures and have some- one come inspect the work, and you deem that what I’m telling you is true, then I hope you’ll give us back two-thirds of that money. I’m going to have to pay some other company to finish the job and that always costs more than starting from scratch.”
“I like it,” the judge said with a growing smile. “I’m trying to figure out why we don’t have everyone else in here do the same thing. In fact, I don’t want to see anyone here today unless you’re prepared to do what Peterson is doing.”
7 Koontz-Wagner is the packager Peterson used who went bankrupt, located in Caldwell, Idaho.
Trucks waiting to pull Peterson equipment out of bankrupt packaging facility
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