| Author | Message | ||
     Buelliedan |
I think Borat bought EBR. | ||
| Steveford |
Whoever got it, I would like to nominate Bruce Belfer for Buelligan of the Decade. It didn't work out as planned but what he did do is really appreciated. Thank you. | ||
| Jaimec |
http://www.polaris-industries.com/ebr_acquisition. html | ||
| Ratbuell |
Dick | ||
| Cravacor |
Nice one, Jaime. | ||
| Glitch |
Awesome Jaime! | ||
| Jaimec |
Gotta love the classics... Where's Barker when we need him? (Message edited by jaimec on December 11, 2015) | ||
| Wolfridgerider |
 | ||
| Hootowl |
Beautiful. | ||
| Crusty |
Jaime; Marc Marquez and Dani Pedrosa want you to join them for a track day where they'll practice their passing maneuvers | ||
| Rick_fears |
From a good source on the favebook group, Ok guys, I have some info. A liquidator, Liquid Assets (Bill Melvin - liquidator) was the buyer at $1.6m - they are keeping it quiet waiting for the Judge to approve the sale this Monday in court - they don't want to create opposition to the sale by having employees show up to oppose the liquidation of EBR. Anyone & everyone can speak to the Judge in court - it is a public hearing - if 10 to 20 employees would show up and tell the Judge how this effects them personally it would make a difference to buy more time - especially since there are other buyers interested in keeping the company intact rather than breaking it up - there is no reason why EBR had to be taken to auction so quickly. if the employees can show up and tell the Judge the impact of liquidation on them personally - then ask the Judge for more time to find a buyer that would keep EBR intact ... it would have a significant impact -- especially since the creditors that are owed money are NOT forcing a quick sale of EBR (since they are take a BIG loss on what they are owed). So we can help this. There are people trying to work out a deal to keep it together, just need more time. | ||
| Lake_bueller |
Looks like they were the same company that Harley used to liquidate Buell the first time around... http://www.liquidassetpartners.com/motorsports.htm l | ||
| Xb1125r |
two questions. if 1.6m was the winning bid then was that the highest bid? who gets the 1.6m that the liquidators are paying for ebr? thanks | ||
| Steveford |
That would be a sad end, I hope that's not the case. | ||
| Hughlysses |
who gets the 1.6m that the liquidators are paying for ebr? The proceeds from the auction go to the Receiver. Then he distributes that money to the people and companies who have claims against EBR. He already received $2.8M from Hero for their stuff. The Receiver gets a cut for his work and expenses, employees get paid unpaid benefits, then the companies that had provided parts, etc. for EBR but weren't paid get anything that's left. The money will run out before many of them get paid. | ||
| Jim2 |
So much for a legal "going concern" auction if rick-fears is right! | ||
| Classax |
The whole thing doesn't add up. The stalking horse bidder is supposed to prevent low bids and would have been approved only if they could prove they had funds to maintain the going concern. Technically the moment they ceased operations they ceased to be a going concern. Still if Bruce out bid the stalking horse as the only bidder, at 2.5M, he should have been able to beat 1.6 by miles, unless his financial backers determine the company was worth less than $1.6M. That would mean Hero took ALL the critical IP. 4.4M will barely pay the employees much less GE and the Engine development folks. The whole thing simply wreaks! | ||
| Rick_fears |
I take no credit for that information, that was taken from a facebook post of a fellow member who is in the know. You also have to take into consideration that the previous auction included what assets hero have since taken. Judging by the difference in auction price, hero seems to have gotten away with a lot. I hate to say it but I bet what's left of ebr is split up and sold. Then in the next few years we see ebr elements pop up in a brand on fresh soil. But the auction is not final yet. There is still time to sway the flow. Depending on the legalities and conditions of the sale. There is talk of crowdfunding on the fb page. 1.6mil between the collective is not unfeasable. | ||
| Hybridmomentspass |
"There is talk of crowdfunding on the fb page. 1.6mil between the collective is not unfeasable." Youre correct that it is feasible to raise, but then comes the "Now what?" part. Ok, lets say the crowdfunding project was a success in to the point of securing the assets/company - then what? Who runs it and pays for the next part? Once you hve control of the company you'd have to be able to fund employees and the overhead of the building etc I think its a great idea, but much bigger than JUST (lol) raising 1.6M. Shame if Rick's sources are right, that it just gets split up and sold Would be a shame to see the company die out that quickly | ||
| Midknyte |
  | ||
| Cravacor |
300 bikes alone are worth well over $2MM, right? Oh, wait, they aren't because they aren't certified to be sold? | ||
| Court |
There's not a shred of information I'd consider accurate on this page. The employees are long gone and could, for the most part, care less. That ship has sailed. If you want to be a "going concern" . . .your crowdfunding will need a minimum of $50,000,000. The bikes, as I have said before, are likely nothing but a distraction. They can neither be sold nor titled. They'll either be gifts or parts. Personally . . i'm waiting on something more "official" than farcebook. Folks . . no kidding . . . believe that crap. | ||
| Thumper1203 |
I was waiting for this post ^^^ | ||
| Steeleagle |
My thoughts exactly. | ||
| Wolfridgerider |
waiting for the real word. in the meantime Might take the S3 for a ride. Its 70 degrees and its December... | ||
| Stevel |
This time Court is spot on. I would very much like to know what the auction content was. Is there a public auction document that stated what was being sold? Perhaps it is less expensive to just start a new company? | ||
| S21125r |
“Perhaps it is less expensive to just start a new company?” Stevel - My thought exactly and it’s a “Bruce” angle that might still be viable if he has the stomach and financing for it. If Erik and the elves are the true genius behind the company then Bruce could in theory start a new company without any of the EBR assets as long as Erik is signed on as the tech lead. Bruce is already in the manufacturing business so that end of it may not be all that foreign to him to start from scratch. While IP could be recreated in much the same way it was done by EBR when Buell was liquidated, it does costs money to do that. However a liquidator would have no emotional attachment to the EBR IP and it might make sense for a new venture to purchase the IP if the buy vs. make numbers are sweet enough. I suppose we’ll know more soon. | ||
| Sprintst |
The Case is continued to January 14th | ||
| Budgolf |
I've been following on the FB page, I don't know for sure but.....I think maybe Bruce threw a wrench into the liquidators plans!!!! | ||
| Buelliedan |
some things just don't make sense. When I called the lawyer representing the auction he told me I needed to beat a 3 million dollar stocking horse bid. That was too much for me so I didn't pursue it any further. Now we are hearing it went for 1.6? Like I said it just doesn't add up. |
