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TESORO now selling out, they are done.
- Thread starter Sven
- Start date
fwcrawford
Well-known member
n/t
It depends on how much money Tesoro owes folks. If they can pay off all their suppliers including make payments on the $200k mortgage they took out on the property a couple of years ago, they can just “fold their tents and go” The only risk then would be a class action suit about breach of contract regarding the “lifetime” warranty (but only original owners are covered).
Otherwise a bankruptcy is likely. Since the property is for sale, I doubt bankruptcy has been filed.
I have private communications from someone with firsthand knowledge of the history of the generation change from Jack Gifford to the sons. That made it sound like the end was inevitable with one son leaving the firm and the other thinking he could run the company and do the engineering all by himself - turns out he couldn’t and not hiring some good engineers, no progress was made after Jack’s retirement in about 2000.
One other thing. Just because the property is for sale for $1.4M doesn’t mean that Vince Gifford isn’t still using it for something - just like a home for sale, the owners might still have it full of their stuff and still be living there.
Otherwise a bankruptcy is likely. Since the property is for sale, I doubt bankruptcy has been filed.
I have private communications from someone with firsthand knowledge of the history of the generation change from Jack Gifford to the sons. That made it sound like the end was inevitable with one son leaving the firm and the other thinking he could run the company and do the engineering all by himself - turns out he couldn’t and not hiring some good engineers, no progress was made after Jack’s retirement in about 2000.
One other thing. Just because the property is for sale for $1.4M doesn’t mean that Vince Gifford isn’t still using it for something - just like a home for sale, the owners might still have it full of their stuff and still be living there.
HaroldILL.
Active member
Yes I was hoping FT would buy it as Dave J. Designed the LOBO so it would be a perfect fit. He could help design that long awaited I.D. machine that would put them in the black again. Or just add Tone I.D. to the Vaquero would probably do it. The haters under estimate How many loyal Tesoro guys are out there.
Looks like that video was made back in the winter as there are no leaves on the trees, but it is strange that there are leaves on the very opening shot of the vid. They still have my compadre that I sent in for repair right before they laid off everyone. Haven't heard a thing from them.
I got a newsletter from a dealer yesterday and it said that he was adding Tesoro to his line. I e-mailed him and asked how he could be starting to sale them since all the forums are saying they have gone out of business. He replied that the ones on the forum don't know what they are talking about, so is Tesoro out of business or not?
Tot Lot Bandit
Well-known member
chuck said:
KellyCo and most other dealers are almost out of inventory. That should answer your question.
bulletman
Well-known member
marcomo said:chuck said:
Avoid that dealer like the plague!
Agreed Marcomo. I don't believe any of us want to see this happen to this great company. However, they just couldn't keep up with the ever changing technology. Be as it may, the youngsters want the tech. For me, the tech has never been a priority, especially at my age. My dealer has already seen the writing on the wall with Tesoro. Looking at online dealers tells the whole story, as inventories have depleted to a couple of detectors at best. My suspicion is that other detector manufacturers will have a harder and harder time keeping up with this "tech". How long will it be until a detectorists can check his "Facebook" page upon his detector screen???? God help us!
Bulletman
Shalom
Stoof-tabsallday
Well-known member
Well I guess I'll take really good care of what I have and keep enjoying them like I have been. 
Tot Lot Bandit
Well-known member
That is a killer collection. I'm just starting mine with a Mojave, Sidewinder Umax and 1st series Compadre with 7" coil.
Stoof-tabsallday
Well-known member
They are tough machines. Unless you blatently break them or a component on the board frys then they should last forever.
I open the faceplate once a year and blow them out with canned air and battery removed
I open the faceplate once a year and blow them out with canned air and battery removed