| Author | Message | ||
     Hybridmomentspass |
Bruce - any comment/clarification on what I said above? Any answers to the 'what did the payroll checks say on them' question? etc I just want to know the truth, the facts. If Im wrong on what I said then please correct me. Thanks | ||
| Desert_uly |
I have no negative Bruce Belfer propaganda to provide so I just wish to thank him for all effort and work he committed to trying to make this thing work for all of the Buell and EBR community and enthusiasts. Still hoping for a positive outcome although I know chances are slim. Thanks Erik and Bruce for all you have done. | ||
| Davegess |
I really don't understand why anyone here thinks Bruce owes them an answer on anything. I know people feel connected to Buell in s very personal way but Bruce has a business and how he goes about running it is his business. Question his motive or methods, especially because he doesn't give you an answer you want or expect is simply dumb. Thats for trying Bruce. | ||
| Bruce_belfer |
HMP, I've answered you above. As to paychecks, they were drawn on the Wisconsin accounts of my company, Atlantic Metals, which were all set up specifically to operate EBR. This is important why? Beyond that, if you'd like answers, do your best not to imply anything other than honorable intentions and hard work on my part. I'm a manufacturer of American made products. My motivation was to save another great American manufacturer and put it back on the road to success. I spent a lot of time and money in that pursuit. Your assertion that I was looking for my "15 minutes of fame" is ridiculous and insulting, as I never expected, nor was I prepared for the public response. I handled it as it came, and once things got sideways did my level best to manage expectations realistically, while keeping the nose up. Try it sometime. It isn't easy. With respect to those of you asking about any possibility of doing a deal with LAP, it is far too soon to say. Nothing good comes easily or quickly. Give it time. Thanks, Bruce | ||
| Hybridmomentspass |
Bruce - thank you for answering. Reason I was curious about the checks was to see if it'd be under EBR or if you were planning a new business. | ||
| Bruce_belfer |
Right. EBR ceased to exist when it went into receivership. That company was gone. The new company was to operate under the name EBR as the IP (including the trademarks) were included assets. I would expect that anyone (other than another top-tier motorcycle company) who buys EBR would also intend to retain the brand name going forward. BDB | ||
| M1combat |
Another company could do well to retain the EBR name in the same vein of something like SVT or MOPAR or something to that effect. | ||
| Panshovevo |
Bruce, thanks for all you did and tried to do. I suspect we haven't heard the last of you, and I hope we haven't. | ||
| Fmaxwell |
Bruce, I was rooting for you from the beginning and I'm really, really sorry that things went the way that they did. I think that we all underestimated the incompetence of the receiver and unprincipled greed of HERO. "Liquidators" are the vultures of the business world. They pay top dollar to put people out of work rather than letting an auction go to someone like who would have a go at keeping the doors open, lights on, and employees paid. As to the shit-talking spectators, social media has made it worse. Now the cowards don't even have to show their faces in public. But a "John Doe" lawsuit for defamation will usually reveal the actual name, address, phone, email, etc. of someone who talks shit online. I doubt that they would talk shit when standing face-to-face with you. | ||
| Eviled98 |
Thank you Bruce. | ||
| Submax |
Thanks for all your efforts, Bruce!  | ||
| 34nineteen |
Bruce, Thanks for putting it out there and trying to breathe new life into EBR. Do you have any new motorcycle ventures in mind? | ||
| Hughlysses |
Another article: http://www.digitaltrends.com/cars/erik-buell-racin g-has-a-new-owner/ | ||
| 99qk6 |
Thanks Bruce for trying,as a fellow jersey guy I was really hoping this was gonna work out for you ....still hoping it might | ||
| Buellhusker |
Bruce thank you for your efforts to keep EBR whole and back on the road, and may all of your future efforts be successful. | ||
| Al_lighton |
FYI, LAP is now figuring out how to get their max return on their purchase, and is soliciting offers for the business in whole or in part. A sales manager from within LAP is sending out emails to potential buyers that says: "Liquid Asset Partners have recently acquired the entire EBR company and looking to sell it as an operating business. There are numerous options on the table and I am currently gathering information on who has interest in what part or parts of the business. I should have an inventory sometime in the next couple of days, and will be able to provide additional financial information upon request. This is a huge opportunity and if you have any interest please email or call me today to discuss. " This doesn't surprise me in the least, this is what liquidators do. Selling assets intact takes a lot less work than selling them piecemeal, so it isn't surprising that they would solicit bidders interested in taking it over as an operating entity. But liquidators also dismantle and sell piecemeal, trying to get more from the parts than they're get from the whole because it costs them much more to take it all apart. I have no doubt that LAP will do exactly that if they don't get a bid for the whole that is more than what they paid for it. LAP did not send that to American Sport Bike, but they did send it to at least one of our suppliers. My guess is that more than one of our suppliers got the same email. Al | ||
| Court |
Time is off the essence. And, let me correct you with regard to one item. You said . . . "so it isn't surprising that they would solicit bidders interested in taking it over as an operating entity." I'd suggest that may, more accurately, read . . . so it isn't surprising that they would solicit bidders interested in taking it over as The have zero interest in selling anything as an "operating entity". While they may not be opposed to it (I suspect they could care less what someone does with it if the check clears). . . . .their permanent interest is. 1) Moving it as fast as possible to minimize carrying cost. 2) Dividing it the fewest possible times. I could be wrong. | ||
| Al_lighton |
Yup, I agree, that is a more accurate way of stating it. Are you coming out to La Jolla in the near future? If yes, let me know when if you want to get together for a beer or whatever. | ||
| Reepicheep |
Make it a package deal. Buy EBR and restablish it as an operating interest, and get American Sport Bike and one year of consulting support for a most modest one time fee.  | ||
| Wolfridgerider |
I like the way you think Bill... | ||
| Court |
Frankly Bill ...... Now you are putting together a package that I could market. It's no longer an "Elf Rich" environment ..... But .... There're exist some key pieces that could start to coalesce to make motorcycles, sense & money ...... Sameultimeously. Al: making an appearance ... Very unofficial...at Salk Institute .... Must absolutely get pointers from you, the dog and the girls. 1/29-2/4 ..... I'll be in touch. | ||
| Fmaxwell |
Liquid Asset Partners is a scrapyard for businesses. Their default mode of operation is to break everything up, sell off the most valuable parts, auction the rest, and move on. They don't care about employees, customers, suppliers, or the company's history (beyond how it affects the value of the name they acquired). If there was a much interest in buying EBR as an operating entity, it would have happened at the first or second auction. Bruce was our one hope there. It's not like the motorcycle industry was unaware of the auctions. I fear that LAP is just going through the motions in order to satisfy their promises to the receiver. I don't think that it's random chance that American Sport Bike was not notified of the availability of EBR. Why notify a firm that might gum up the works by trying to make a purchase? | ||
| Malott442 |
This, and about 4 other threads, feel like a group of cars stuck in a roundabout. | ||
| Buelliedan |
"I don't think that it's random chance that American Sport Bike was not notified of the availability of EBR. Why notify a firm that might gum up the works by trying to make a purchase?" What's with the conspiracy theories?. American Sport Bike has posted that they are soon closing up shop so why would LAP even have them on their radar as a potential buyer. As others have said the auction of EBR was no secret so trying to imply that LAP intentionally did not notify American Sport Bike because they were worried they might buy it is just silly talk. | ||
| Budgolf |
It's been a pretty painful experience. After losing my motorcycle company a second time, to losing the finest thing I had ever ridden in almost 40 years of riding...it all comes to this. We'll see how it goes. I for one, am off to buy a new Scout. Those things are bad ass. Hybrid...I understand some of your questions, but you went beyond just questions to pretty much insulting someone I bet you've never met quite some time ago. Stop being a dick. Bruce..I appreciate your efforts man | ||
| Hybridmomentspass |
Eh, it doesnt matter Bud | ||
| Sprintst |
Why would Polaris, or any other company, serious about buying EBR, buy it from a liquidator and pay more than if they had just bought it at auction? I can't imagine there's more than a 2% chance of anyone buying the whole from the liquidators..........It would be silly to pay their overhead when you could have got it at auction yourself. Am I missing something, or just not drinking the Koolaid?? | ||
| Nobuell |
Nothing has made sense to me since it all started. I hope who ever ends up with the inventory and parts can keep the EBR purchasers up and running. | ||
| Reepicheep |
I think there are a few scenarios that make sense. Given there were three auctions before the auction "stuck", having a "here is the deal, and it's really the deal" would be a plus. Also, the liquidator could get rid of a lot of stuff that has value, but that is a hassle to liquidate, and make a profit that way. Then sell the asset to a company for whom that gear would be redundant for less then the auction price. | ||
| Al_lighton |
The only thing that makes any sense to me is that Erik himself has a plan for securing financing to purchase it from LAP. He was prohibited from bidding on the auction, but I don't think he's prohibited from buying it from LAP if he has a source of financing. If he had that financing to begin with, then none of this would have happened. But I don't think any of it was his idea, I think Hero created this mess when they didn't come through with promised funding (if what we've heard on that has any validity). But if Erik is able to secure the financing, he essentially gets the 49% of the company back from Hero for likely less than it would have cost otherwise, at least in up front $$$. The cost in consumer and vendor trust is WAY more than any of those 49% ownership financial gains, so the overall play still doesn't make any sense to me. And it doesn't sound like something Erik would do anyway, given the impact on the company and employees. But maybe it's the best that could be done once Hero reneged on funding in a takeover power play (if that is what happened at all). But given LAP's press releases, it sure doesn't read that way. Unless, as Fred wrote, LAP is just going through the motions in order to satisfy their promises to the receiver. So nah, I agree with Paul and Tim, I'm missing something, and it doesn't make any sense. |
