Keisler

[SixFivePost]

Hey guys, its me "cgocifer" with the 65 build thread on team Chevelle. I was able to get the deposit back from my cc company but that could be reversed due to bankruptcy law b.s. cc company is looking into it.

I did receive a letter yesterday from the bankruptcy lawyer warning about laws. Can't contact them and demand return of money, can't stop payment for items, etc etc. There is some meeting for all creditors in Kentucky in a few weeks... yeah, not traveling there for a meeting.

As noted above, just ordered a deluxe TKO 600 kit from Hurst Driveline. They have been great so far. They made it very clear that I will not be charged a dime until my stuff ships. As it should be.

Saved some $$ with the TKO and though they aren't as smooth as the Keisler trannys, they are supported everywhere and the tko 600 is rated for higher HP/tq than the rs 500 and costs less. I need to cut and modify the tunnel a bit but no biggie.

[71RS/SS396]

Originally Posted by camcojb

I can't imagine anyone buying that operation as Keisler; the name is toxic, there's no "goodwill" at all, it's actually a big negative.

I agree and nobody in their right mind would want to keep him around or buy stocks and have him run it.

[DOOM]

Originally Posted by 71RS/SS396

I agree and nobody in their right mind would want to keep him around or buy stocks and have him run it.

Tim trust me this guy will be right back in the buisness. And never skip a beat!

[71RS/SS396]

Originally Posted by DOOM

Tim trust me this guy will be right back in the buisness. And never skip a beat!

Mario, I don't doubt that's what he's trying to do. I'm just not sure who would be foolish enough to financially back him with him at the controls. I could see the value in the assets at the right price and possibly keeping him in the background as a tech adviser depending on how much of that is actually him versus his engineering dept. which would become clear in a short period of time. I wouldn't sign any long term agreement to guarantee him a position without knowing this.

[Sieg]

Originally Posted by DOOM

Tim trust me this guy will be right back in the buisness. And never skip a beat!

How many times have we all witnessed crooks leverage the bankruptcy laws in this country?

[Revved]

Originally Posted by 71RS/SS396

Mario, I don't doubt that's what he's trying to do. I'm just not sure who would be foolish enough to financially back him with him at the controls. I could see the value in the assets at the right price and possibly keeping him in the background as a tech adviser depending on how much of that is actually him versus his engineering dept. which would become clear in a short period of time. I wouldn't sign any long term agreement to guarantee him a position without knowing this.

I get that from his letter as well... Sounds like he expects us "little guys" to pony up for stock in the company in a company who's business plan has already proven flawed. Why would anyone fund the same management group to run the same business back into the ground? There is definite value in what he has developed and I hate to see anyone go out of business but it has to be done the right way. Best thing that could happen there is an investment group buy it out, change the management, bring in technical advisors, change the name, move forward, fill all the back orders or issue refunds.

[Bill Howell]

Originally Posted by Revved

..... fill all the back orders or issue refunds.

Sound great, but bankruptcy doesn't work that way. Those that lost money are creditors, and if you pay one, you would have to pay all. Tricky deal dealing with those bankruptcy laws. I am sure a good business person could find a way to help customers that lost money, but it couldn't be in the form of refunds.

I think there is some good value left in the company, but yes, it would have to be new management and I would want to know who had control of the checkbook.
I live 45 minutes from their building and would love to see this idea happen, but there are way too many questions to be answered before I would buy into the organization.

[Sieg]

Originally Posted by Bill Howell

but there are way too many questions to be answered before I would buy into the organization.

That would be like trying to get a straight answer out of the White House.

[Jay Hilliard]

Originally Posted by Sieg

That would be like trying to get a straight answer out of the White House.

Amen on that. It would be easier to find a unicorn.

[Revved]

Originally Posted by Bill Howell

Sound great, but bankruptcy doesn't work that way. Those that lost money are creditors, and if you pay one, you would have to pay all. Tricky deal dealing with those bankruptcy laws. I am sure a good business person could find a way to help customers that lost money, but it couldn't be in the form of refunds.

I think there is some good value left in the company, but yes, it would have to be new management and I would want to know who had control of the checkbook.
I live 45 minutes from their building and would love to see this idea happen, but there are way too many questions to be answered before I would buy into the organization.

Yes.. that would be a "perfect world" end result. If you read his proposal he claims to intend to do just that... fill all the orders... pay all the creditors. I'd love to see that happen but this scenario has played out enough times with different names on the letter head that I'm a skeptic.