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  #31  
Old 13-03-2017, 03:03 PM
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Frank351 Frank351 is offline
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Originally Posted by BlackoutSteve View Post
.. and those are evaluated case by case with many factors, mainly time and cost.
Reminds me of the scene in FightClub where he talks about only doing recalls in cars if the cost of recall is less than the cost of potential lawsuits ....I am sure you guys don't do that ... right ....
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  #32  
Old 13-03-2017, 08:48 PM
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BlackoutSteve BlackoutSteve is offline
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Originally Posted by Frank351 View Post
Reminds me of the scene in FightClub where he talks about only doing recalls in cars if the cost of recall is less than the cost of potential lawsuits ....I am sure you guys don't do that ... right ....
Well, everything is time and cost, but when a building is on it's way up and a part is holding back the progress, a lot of money may be over-capitalized on a part to keep it going.
...as opposed to the usual cost cutting.

The Ford Pinto lawsuits you may be referring to.
There was a bracket on the rear axle that punctured the fuel tank during rear end accidents that very often led to the car bursting into flames.
Very well known and I think even the Simpsons have made a joke about it.
(A leaf falls from a tree onto a car that looks very much like a Pinto and the car explodes into flames!)

Anyway.
It would have cost Ford $11 to recall and repair each Pinto (1971?), but having to do that to every Pinto was a some of money more than the exiting and potential lawsuits.
So, Ford made a conscious decision not to repair their Pintos on the grounds that it was cheaper to let their customers burn.
..and they were heavy punished for it once the document was leaked that explained the math.



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  #33  
Old 14-03-2017, 05:17 AM
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Frank351 Frank351 is offline
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I am familiar with the Pinto saga, but didn't know what the reason they burst into was. I guess that's where they got the idea for the movie. I am surprised they sold that many Pintos.
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1970 Ford Mustang Sportsroof 302W/Toploader
1970 EL Camino 350/TH350 - The FrankenUte
2006 Jeep SRT8 - Big dumb US fun.
2007 FPV Force6 - Wife's car
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  #34  
Old 15-03-2017, 06:45 PM
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LS3 HQ LS3 HQ is offline
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Sounds like fun! They get bouncy at full outboard stretch..
What were you using it for?

Installing some aluminium cladding.


I use my sphinctometer.

Boom won't fall over.. There is a sh!t load of counterweight.
I'm sure it won't but can't say I enjoy the swaying and bouncing 30m up haha
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  #35  
Old 16-03-2017, 05:11 AM
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StephenSLR StephenSLR is offline
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Well, everything is time and cost, but when a building is on it's way up and a part is holding back the progress
Ultimately someone has to pay for that delay with what's known as 'liquidated damages'.

I was involved in the excavation game and the concrete pour comes after you excavate the ground. If your hole isn't ready on time (giggity) the concrete trucks have to be sent back and your company is liable for the cost of turning back the trucks and any costs that result from the hole not being excavated on time. When the project is finished late, the client misses out on rental income, etc. from every day it's late. Liquidated damages can bankrupt a company.

s
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  #36  
Old 19-03-2017, 06:48 PM
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Nev68 Nev68 is offline
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Originally Posted by BlackoutSteve View Post
Well, everything is time and cost, but when a building is on it's way up and a part is holding back the progress, a lot of money may be over-capitalized on a part to keep it going.
...as opposed to the usual cost cutting.

The Ford Pinto lawsuits you may be referring to.
There was a bracket on the rear axle that punctured the fuel tank during rear end accidents that very often led to the car bursting into flames.
Very well known and I think even the Simpsons have made a joke about it.
(A leaf falls from a tree onto a car that looks very much like a Pinto and the car explodes into flames!)

Anyway.
It would have cost Ford $11 to recall and repair each Pinto (1971?), but having to do that to every Pinto was a some of money more than the exiting and potential lawsuits.
So, Ford made a conscious decision not to repair their Pintos on the grounds that it was cheaper to let their customers burn.
..and they were heavy punished for it once the document was leaked that explained the math.



That's what happens when accountants get involved
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