Toledo Talk

Maumee Stamping Plant

I was driving by the Maumee Stamping Plant on Illinois Ave. in Maumee and first noticed there were a lot of cars there (which I took as a good sign) and then noticed a giant sign that said something like "Key Bank blew our account - thanks for saving us First Federal". The sign was one of those big ones on wheels that you see in parking lots. I just found it strange for a business like that to be using that method to get their displeasure known. Looked like something you would see on the corner of Angola and Centennial.

created by Molsonator on Nov 28, 2012 at 06:11:09 pm     Business     Comments: 19

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Have no idea what the issue was but the sign has been there for months.

posted by Foodie on Nov 28, 2012 at 06:20:27 pm     #  

Someone I know said 5/3 pulled their funding or something like that. Not sure if that's the case or not.

posted by lfrost2125 on Nov 28, 2012 at 06:33:41 pm     #  

that place is cursed I tell ya...cursed

posted by justareviewer on Nov 28, 2012 at 09:49:25 pm     #  

Actually, the sign says:

"Key Bank ripped U.S.U off! Thank you First Federal"

Not sure what that means exactly. But that's the exact language on the sign.

posted by wahhutch9 on Nov 29, 2012 at 11:24:00 am     #  

There is another business on I-280 near the turnpike which displays a large sign trashing Key Bank.....coincidence.........

posted by Hoops on Nov 29, 2012 at 11:56:48 am     #  

It used to say 5/3 screwed us over.

posted by lfrost2125 on Nov 29, 2012 at 05:58:32 pm     #  

The business off I-280 is U.S. Utility and they have a school bus with lights and a sign thanking First Federal and it has been a while since I've seen it but I believe it said 5/3 ripped them off.

posted by sparky31134 on Nov 29, 2012 at 06:04:54 pm     #  

Interesting... U.S. Utility on 280 with similar sign.... and U.S.U on sign in front of Maumee Stamping

posted by wahhutch9 on Nov 29, 2012 at 08:43:02 pm     #  

There's another business, construction I believe, that is on glenwood road between 20 & 795. I'm pretty sure they have a negative huntington ad out there....

posted by MattL on Nov 30, 2012 at 12:20:18 pm     #  

People I have talked to are getting fed up with the larger banks like Huntington, 5/3, Key and PNC when dealing with business accounts. Could be tougher regulations or business practices. Smaller banks will benefit from these business accounts that do not fit the others perceived business model.

posted by Hoops on Nov 30, 2012 at 01:21:05 pm     #  

If your business requires loans to function, it's not a real business. Reality is coming to school you.

Real financial management runs on money. Wealth. If you're borrowing money, you don't have money. By definition. So you really deserve to fail.

posted by GuestZero on Nov 30, 2012 at 01:51:03 pm     #  

GZ trolling for an argument today, I see.

I guess all of us home owners who took out a loan are failures.

posted by JohnnyMac on Nov 30, 2012 at 01:54:32 pm     #  

He did say business.

posted by Linecrosser on Nov 30, 2012 at 02:18:31 pm     #  

Was there any mention of loans on the signs? Banks can screw up business checking accounts as well. And wasn't there a discussion here about someone wanting to switch banks because they were a cash business and their current bank (5/3?) was giving them a hard time?

I've never liked Key. They came into my sons' school when they were little to encourage saving money by helping them open up savings accounts. Then we moved and filed a change of address, and each kid was hit with a $15 "change of address" fee. It cut each kid's balance in half. Not exactly what I would call encouragement. "Here kids! Put your hard earned allowance in here and watch us take it away from you!"

posted by valbee on Nov 30, 2012 at 02:28:55 pm     #  

As I vendor, I would never do business with a company who takes out their displeasure with a former vendor in such a manner as posting a sign like this. Sure, business associations do not always work out, for whatever reason. I did consulting for a business who had to switch to a small local bank to get the flexibility we needed after a major fire. But trashing the original bank publicly only shows poorly on the business doing the trashing and forewarns current and future vendors how they deal with unwarranted or unappreciated issues.

posted by MrsArcher on Nov 30, 2012 at 02:33:10 pm     #  

I agree with MrsArcher.

posted by Molsonator on Nov 30, 2012 at 02:44:19 pm     #  

Real financial management runs on money. Wealth. If you're borrowing money, you don't have money. By definition. So you really deserve to fail.

Wow - Name a single fortune 1000 company that hasnít financed some expansion or acquisition at one time or another. Are they all failure?

posted by SensorG on Nov 30, 2012 at 02:50:37 pm     #  

GuestZero posted at 12:51:03 PM on Nov 30, 2012:

If your business requires loans to function, it's not a real business. Reality is coming to school you.

Real financial management runs on money. Wealth. If you're borrowing money, you don't have money. By definition. So you really deserve to fail.

This statement is ridiculous. And, as JM said, trolling for an argument.

I'm genuinely curious as to how you think many businesses start, if not by the proprietor taking on some sort of debt--whether that is from a bank, venture capitalists, or family loans? Using "other people's money" invested in you--once again, from a bank, venture capitalists, or family--has been the way jobs, careers, and wealth has been generated for centuries.

Just because you start in debt does not mean you are not a "real" business, nor deserving to fail. It is an investment in oneself and a motivation to succeed (as to avoid bankruptcy, lawsuits, or family estrangement). That doesn't mean "remain in debt until the end of time" or "fritter away money and don't care about the fallout"--those are different problems. But if I borrow $100,000 and generate $500,000 in revenue, I fail to see how I deserve to fail or am violating some grand economic principle you imagine.

Sure there are failures. There always have been...and there always will be. But to indict people for taking on debt--betting on themselves to succeed--in order to start a business is absurd.

Are there debt free companies? Absolutely. But they didn't start out that way. Most every one had initial investment without the hope of ever being paid back....i.e. "loans".

posted by oldhometown on Nov 30, 2012 at 02:59:37 pm     #  

"Are they all failure?"

Look at the massive financial collapse that the USA is enveloped in, as well as Europe. Are you blind? Yes, they are all a failure, really. Too much debt. A little debt is a good tool, but as I said, if your biz requires debt to run, then it's not a real business, and it should even BE in business.

posted by GuestZero on Nov 30, 2012 at 03:33:25 pm     #