| Author | Message | ||
     Hughlysses |
I figured I'd start a thread with a clearly descriptive heading to provide a single location for all the articles related to the upcoming "re-auction" of EBR: Milwaukee Journal-Sentinel article (just the facts, mam): http://www.jsonline.com/business/erik-buell-racing -motorcycle-company-deal-hits-a-roadblock-b9961675 4z1-350596331.html A&R article with usual negative spin on events: http://www.asphaltandrubber.com/news/erik-buell-ra cing-auction-again/ Milwaukee Business Journal article with additional quotes from Bruce Belfer: http://www.bizjournals.com/milwaukee/news/2015/11/ 17/sale-of-erik-buell-racing-falls-through-second. html | ||
| Hughlysses |
Another: http://www.motorcyclepowersportsnews.com/erik-buel l-racing-will-go-to-auction-a-second-time/#prettyP hoto This one has a photo of what appears to be some of the nearly-completed motorcycles languishing in the factory. | ||
| D_adams |
Scooter anybody? Bottom left of that pic. | ||
| 1313 |
That pic is originally from this c|net article. I thought I actually saw it before the April 14, 2015 date of that c|net article, but was unable to find anything else. If I remember photographs, does that mean I have a photographic memory? 1313 | ||
| Dmhines |
Interesting ... I received the court papers in the mail the other day and just read them. It seems Belfer asked for an extension to pay which was approved.. then, according to the court, defaulted on the payment. Will Belfer be allowed to bid again after failing to close on the original auction? | ||
| Hughlysses |
Will Belfer be allowed to bid again after failing to close on the original auction? Bruce is definitely planning to bid based on his statements in these articles and here on Badweb. I'd guess the Receiver may require Bruce to post a substantial amount of earnest money this time, or substantially more if he had to post earnest money for the first auction. It may also depend on what went on behind the scenes. Bruce may have asked for the extension based on when Hero was supposed to be done, and then they took longer-than-stated (for whatever reason) which effectively screwed his financing. The Receiver would know all that going into the 2nd auction. | ||
| Hootowl |
No, that does not mean you have a photographic memory. Trust me, I have one, and I know the difference. Unfortunately, I was only born with a 12 exposure roll (digital cameras hadn't been invented yet) and I have not been able to find additional film, so other than what my parents, siblings, and binky look like, I can't remember shit. | ||
| Reepicheep |
I'd guess it is at the discretion of the receiver. Like you say, if Bruce was supposed to secure funding, but didn't, earnest money or exclusion from bidding would be reasonable. If it was a case of good faith efforts by Bruce being disrupted by bad faith efforts of Hero, then it would likely be a total non issue. Everybody would shrug and say "hero crapped in our bed on the way out, no surprise, thank goodness we are finally rid of those chuckleheads once and for all" and they would just declare do a redo on the auction. I don't have any inside information, but I bet I know the answer. | ||
| Bruce_belfer |
http://www.motorcycle.com/manufacturer/erik-buell- racing-manufacturer/the-wild-the-innocent-and-the- ebr-shuffle.html | ||
| Hootowl |
Nice, thanks Bruce. | ||
| Zac4mac |
Thank you Bruce. I really needed an EBR boost, you gave me a hand full of spades!  I understand the silence better now. I'll be hoping for the best on the 10th. Zack | ||
| Dave |
Good update Balls DAve | ||
| Hughlysses |
http://www.sportrider.com/erik-buell-racing-assets -up-for-auction-again |
