Camping World’s stock dropped by nearly two-thirds this last week. Is the company in trouble?
In this impromptu five minute video, radio host Alan Warren of The RV Show USA has a warning to consider if you purchased an RV from Camping World in the last few years. You probably also purchased a Good Sam ESP — an Extended Service Policy (extended warranty). If so, if CW should go bust, your policy will go bust right along with it.
Find out what you can do right now to get at least some of your money back. If the company does declare bankruptcy, says Alan, you will almost certainly get nothing back as an unsecured creditor.
Here is the link for a PDF that shows you step-by-step instructions about how to cancel your Good Sam ESP. Be sure to follow the instructions carefully. https://s3.amazonaws.com/files-ccc/Go…
And be sure to watch the live taping of Alan’s nationally syndicated radio show every Wednesday evening at 7 p.m., Central Time on Facebook or YouTube. Learn where to do it here.
##RVT939
I could care less how their stock is doing. Over priced, bad customer service drove me away.
Ha!!! Look at the stock now, could have made a killing.
Too bad they alienated all of us with conservative views by telling us not to bother to do business with them. Lots of luck on their journey to a well-deserved failure!!!
I sure hope CW doesn’t go under. I buy things from them , I would Never Ever buy a RV from them they only sell Low end RVs and I pity the people that do. I’ve had service done there also and they did a good job.
This guy has a radio show and podcast sponsored by an RV dealership half hour away from a Camping World. His constant bashing of CW could send business away from CW and to his sponsor. Wonder if his sponsor then promotes business to his commercial campground?
The media including this media has to jump on the Virus band wagon. I am more concerned about this market dip than the last 2 I experienced however as others have said the markets will come back, all the money governments (including mine a Canadian) are talking we are providing 500 Billion of funds to this and that. I did the math. About 30 million people in Canada. The government could send each family about $18000 each and we could all stay home for 3 months, close our borders and the virus would be gone. The only way to beat this is stay home.
RVtravel.com “jump[ed] on the Virus band wagon,” Rob, because we’re trying to keep our RVing readers informed as to how this affects them. Period. —Diane at RVtravel.com
Lemonis and a few other executives just bought a lot of camping world stock. Might be time to pick some up myself.
That guy in the vid is full of himself. I’m pretty neutral about CW. Bought stuff from their stores, pretty convenient shopping. They have everything. But I have no need for their RV sales and service, we all know about their sales practices, and I can do any repairs myself.
The sky is falling, the sky is falling. Ten years from now the Camping World sky is falling people will still shout the cry.
I didn’t have to hit PLAY to see the handwriting on the wall. Stock markets go up and down all the time. It only takes one gripping-blown-out-of-proportion story to cause the people to go into a tail spinning “Oh my Gawd, the sky is falling!” Don’t let this guy’s fool hearty OPINION spread like Covid-19! I don’t have a Good Sam ESP, but if I did, I wouldn’t go try to recoup any money I paid into it. Just like I don’t watch all my stocks on a daily basis and get all panicky about losing money. If you’re in for the long haul, you’ll see the market gains soon enough. We know recessions can be a great time to buy more stocks at low prices, not that we are close to one at this time. If you want CW to succeed, you surly don’t want to bail ship on them. Otherwise, it might happen. CW is here to stay, like it or not. They seem to be committed to their core values and their customers. Stick with them.
This guy is full of crap. The entire stock market took a dump!! Why are you singling out CW?
Another case of irresponsible Camping World bashing.
Where does this guy get his information? Has anything this guys states, been vetted? He claimed Camping World was going bankrupt last year. He claims you will lose your money on your ESP if CW was to go under. Where is the proof in these misconceptions?
I ask, what is more likely to happen? A small, tiny mom and pop RV Dealership to go under, or Camping World, the largest RV Dealership in the world, go under? How many other RV Dealerships in the country are publicly traded?
This “RV Wingman” and his only, tiny dealership sponsor, are truly why the internet can be bad. So much misinformation and conspiracy theories this guy likes to spread, you wonder what really is behind his nonsense.
Camping World isn’t going anywhere but up. More and more younger families have realized the memories that can be made by going camping and seeing this great country of ours. Camping World and Good Sam, is a mainstay for camping. Over 160+ stores and growing. Who hasn’t gone camping and seen the Good Sam Logo at the campground you were staying at? The piece of mind that Camping World offers while traveling through the United States cannot be touched or rivaled by any other RV Dealership. There is not even a close second.
Let me ask you. You live in Florida and you are camping in Colorado. Your refrigerator goes out and you need immediate service. There is still 3 weeks left on your trip. Would you not like the security of being part of the largest camping network in the world? Or would you rather just wait to fix your refrigerator when you return to Florida? This is just one example of many, that the extra security for your family, you cannot put a price on.
Side note- A good friend of mine works for Camping World. In 2019, he estimates, Mr Lemonis gave away over a million dollars in incentives. In fact one Sales Person received a bonus of $100,00 for being the number 1 salesperson in the country with many others receiving nice bonuses for being top performers. Extremely nice of any CEO to give such terrific incentives.
Finally, Camping World and Good Sam employs 1000’s of employees across the country. Health care, retirement, road side assistance, and a good wage are included. Employees are also compensated for volunteer work they do in their local communities from Camping World. When Mr Alan “RV Wigman” tells fictional stories, he is only hurting those 1000’s of employees that are making an honest living.
Shame on you “RV Wingman.” You owe a public apology to Mr Lemonis and the entire Camping World/ Good Sam Family. Be a better person than you have been. It is easier telling the truth and being nice.
I think you drank the Free Kool aid!
This guy is full of s@&t. Camping World is running strong and doing great things. The RV industry is picking up, not dying down.
An interesting article for sure and the question I have if Camping World goes into bankruptcy does that drag the over 10 subsidiaries with it? So it is Camping World Corporate or Camping World RV sales that could be the problem? We just signed up for Good Sam Travel Support. So if CW goes under who are you going to call?
Good Sam Enterprises is a provider of membership clubs, as well as subscription-based products, services and publications, targeted toward the recreational vehicles and other outdoor enthusiasts in the United States and Canada. Wikipedia
Headquarters: Englewood, CO
Parent organization: Camping World
Revenue: 562.2 million USD
Number of employees: 1,621 (2018)
Founder: Stephen Adams
Subsidiaries: Camping World, Good Sam Club,
Camping World is a discretionary spending business, when the economy tanks, and due to the Corona virus the economy is tanking, people aren’t going to spend discretionary funding on large luxury purchase. As an investor, of course I would devalue the company right now.
The bias of this article is staggering.
It would not matter if CW goes under. The warranty is through United Protection which is a division of Assurant. Assurant is one of the largest third party warranty companies and is publicly traded. The thing you would lose is CWs discount on the copay which they underwrite. The warranty is just an insurance policy sold through CW. They get their profit(which is most of it) and the rest buys the policy. Many places will honor the extended warranty including some mobile techs. You would call the same number and they would tell you who is available or you can get per-authorization and take it anywhere then submit for reimbursement.
Like someone else posted this guy has an ax to grind and is supported by the competition.
CW has its problems but putting out misinformation is just as bad.
I think I agree with what you wrote here D.W. although I’m no great fan of CW or ANY OTHER RV RETAILER – they all shamelessly sell the same crap.
I’ve almost always looked at “warranties” as basically worthless BS used to sell junk built to fail.
Oh sure there’s examples galore of things going right if you have the time to WAIT for service. BUT, how many folks don’t get the work done before the flimsy warranty expires and you have a fight on your hands????
Who keeps track of the disappointments.
None of this not part of my RV world and no one should hold it up as part of there’s either.
Folks, Camping World is just another business. You have multiple opportunities to buy from others. If CW goes under, they will file paperwork and be back in a week like the furniture stores under a new name soaking up more money. By filing Bankruptcy, they (like you) can shed all those loans and rewards programs. They can pocket the money and fade into the Caribbean. Like the pirate in the Captain Phillips movie with Tom Hanks said ” It’s just business mon”.
For over a decade I was a Good Sam member, and bought locally at my local Camping World. Rather than save a few bucks by buying on Amazon, I would buy from the local Camping World. When on camping trips, I would stop into a CW on the way for supplies. I never had a bad experience with CW. That all changed in 2017. Hurricane Irma ripped thru Florida in 2017. I’ve lived in Florida for over 25 years, and in all that time, never needed a generator. The one I bought in 98 eventually died, and I never had a reason to replace it. So after Irma, our entire area lost power. Now we needed a bigger generator to support the house. Not a whole-house model, but something that could power a window AC (or two), the fridge, and a toaster oven and microwave and some fans. After all, it was the hottest month here in Florida, and my wife and I and her 89 year old mom who lived with us, needed some relief. I thought something around the 9KW range would do the trick. Unfortunately there was NOTHING available in the area. No worries. My responsibility. So I went online, and the only online web site I could find that had a unit like this, and could ship overnight was Camping World. Great! I love(d) CW. I went online and tried to buy it, but it was denying my purchase. I called and spoke to customer support, working my way up to a supervisor who told me that CW had an EMBARGO on Florida and Georgia until the emergency was over. WHAT? I wasn’t asking for any favors, discounts, freebies, etc. I just wanted to do something that anyone in 48 other states could do. Buy a product at the advertised price and availability and have it shipped overnight. Credit card in hand, they refused my purchase. So, in my hour of need, rather than merely doing what they were in business to do, CW said ‘No’. I let my Good Sam expire, never to renew. I never stepped foot into a CW again and vowed never to do business with them again. The economy is up, jobs are up, employment is up and yet CW in particular and the RV industry in general is down. CW and the industry as a whole is suffering from a situation of their own making.
I have no love affair with anyone in retail, for me they’re all pretty much cut from the same bolt of cloth.
Having said that Steve S. don’t you think you might have had the same response from someone else selling a generator to a consumer in Florida at that time. You don’t tell us how you eventually got that generator or if you did at all.
I’m thinking there’s something left out of the telling – it makes no sense that CW simply denied your purchase- due an embargo – nobody else had imposed.
Retail doesn’t work when it doesn’t sell. Something missing here!
Strange, as even last summer during Dorian, when there were no generators to be had here in SW Florida, Marcus sent trucks full of generators and supplies straight to the CW stores on our west coast. When the storm shifted and turned north, those trucks were rerouted to GA and the Carolinas. They did not need to spend the $$$ to send trucks to get supplies to those who needed it, but did out of decency and also did not jack the prices either.
This guy is sponsored by a competitor, about the only sponsor he has! I don’t buy their ESP, but my last 5 campers have been bought there for good prices and good service
I gave lemonis an opportunity to purchase more stock which he did.