An Insider's View II: Another Dan Nelson Employee Speaks
Another former Dan Nelson Automotive employee called me today with additional details about yesterday's shut down and further details about DNA. Again, they are worried about retribution and I am using them as an unnamed source. I think their comments are credible.
My source says:
- Family Isuzu employees did not get paid yesterday as they were supposed to. They get paid on the 10th and 25th of the month. The source is owed for three weeks pay. They are concerned if or when they will ever get paid.
- There was a meeting at 10 a.m. yesterday with MetaBank. Employees were informed that two investors, one from Sioux Falls and one from Rapid City, were going to invest and help the dealerships stay open. They were to know by 3 p.m. The appointed hour came and went. At 3:20 p.m., two Sioux Falls Police Officer came as the vanguard closing their store on West 12th St. The source said there were 10-15 MetaBank employees there, including CEO Tyler Haahr and his father. My source said this was difficult for many of the long term employees and the Haahrs because they all knew and liked each other.
- Some of the mechanics had problems getting their tools. Typically, mechanics own their own tools, but MetaBank wanted to make sure nothing secured was walking out the building. Other employees' personal items were checked for the same reason.
- My source says that they believe that Car Now Acceptance Corporation (CNAC) employees were paid yesterday. My source's theory is that DNA and MetaBank need them to keep collecting and servicing loans to keep money coming in on car loans.
- My source believes there is $16M in "buy here pay here" loans and another $6.4M in floor plan financing, real estate, etc.
- The source said Dan Nelson did a lot of good things for people, including donating vehicles for various causes.
- The source was shocked that as close as Thune and Nelson were (are?), that Thune would suddenly distance himself so quickly from Dan. My source's comment: "I Dan can't help John now."
A theme I seem to be finding from employees is that DNA was at least a decent place to work. I have heard no complaints about working conditions or that management were jerks.
Again, test the credibility and validity and draw your own conclusions.
Todd Epp
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Reader Comments (3)
at DNA in 2003 and I know that it's no fun standing in the unemployment line.
So I would like to take a moment and express my sympathies to all DNA employees who were put out of work in this mess.Everyone seems to forget about all the other people who have been hurt by this situation.GOOD LUCK TO ALL!!