Roush Saleen Chapter 11??

[sal07b]

I stopped by the Phoenix Saleen dealer the other day to take a look around. They had no Saleen's, no Saleen goodies, and said that the company was filing chapter 11. Has anyone heard this (or am I the only one that didn't know about it )? The dealer said it was because Saleen put so much into the S7 and sales were not what they expected. I guess someone didn't do their break-even analysis homework.

I sure hope this isn't the case! If it is, ayone know what the outlook is for the company?

Sal

 

[saleenster]

I stopped by the Phoenix Saleen dealer the other day to take a look around. They had no Saleen's, no Saleen goodies, and said that the company was filing chapter 11. Has anyone heard this (or am I the only one that didn't know about it )? The dealer said it was because Saleen put so much into the S7 and sales were not what they expected. I guess someone didn't do their break-even analysis homework.

I sure hope this isn't the case! If it is, ayone know what the outlook is for the company?

Sal

Well, if thats true, then your not the only one to not know about it, as I have not heard anything like that..in fact, I heard the S7 is doing better then expected in Europe. I believe there are only 14 S7's in the states right now...but it would not surprise me if it is true. Steve is expected at the Belleve event this wkend...I will be sure and ask him

 

[Flatfoot75]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!......hey does that mean our cars will be worth more?!

 

[sal07b]

Not sure that it would make our cars worth more. It is a zero-sum gain for me, as I will probably never sell mine anyways!! If this is not true, I would be getting on the Bell Ford dealer in Phoenix for spreading such rumors. They said that the Chapter 11 also had to do with some warranty issues. Mine has been out of warranty for so long that I wouldn't know...

Sal

 

[marcus95]

Funny. I would have heard from my friend who works for Saleen and has for over 10 years if it were true. Even if it is, it would be anything new. Saleen has been broke since 1990.
Sounds like a bent Dealer that got axed from the network. Ford would not have included Saleen in any new projects if they had any idea that BK was imminent.

 

[lgndracer]

Well even if it is 11, that doesn't mean much. That just protects a company from it debtors while it comes up with a reorganization plan. A lot of companies go through it. Most of them get into a bad cash flow situation, and the good companies learn from thier mistakes, and can pull out stronger than ever. On the other hand, if they let pride get in the way, and waited too long, they may not be able to get back out. It can then turn to chapter 7, which means close the doors and liquidate.

 

[caballo]

You sure he didn't mean the dealer, and not Saleen?

 

[2001s281]

saleen was purchased by a copmany that purchases mid size companies with years in their respective industries. if they were going belly up it would be very surprising.