| Author | Message | ||
     Hughlysses |
January 13th, preceding the previously scheduled hearing on the 14th: http://www.jsonline.com/business/court-orders-anot her-auction-for-erik-buell-racing-b99646379z1-3642 74051.html?ipad=y  | ||
| Jaimec |
Ooooh! ZERO Motorcycles was interested in bidding?? | ||
| 46champ |
Can it get anymore convoluted. | ||
| Hybridmomentspass |
"Belfer, however, twice failed to meet deadlines to close on the purchase, according to court documents. " | ||
| Hughlysses |
I finally got around to reading the article in detail. It mentions that these guys: http://www.gpholdingsusa.com/ had planned to submit a $3.15M bid at the last auction, but were unable to secure financing. | ||
| Bsanorton |
Crossing my fingers someone from this forum hits the powerball tonight, LOL! I really can't understand with all the supposedly multi millionaires/billionaires in this country why someone doesn't scoop EBR up. Seems a drop in the bucket. Maybe it's the long term commitment and funding... | ||
| Milar |
S&S makes some sense to me as they already have an engine production facility. A 117", 3 cam X-Wedge engine in a Buell frame would get my attention. M http://www.sscycle.com/product/X-Wedge-Series/Engi nes-c47/ | ||
| Submax |
.So, I was getting ready to send my letter when this post came up. Sounds like letters aren't needed anymore? | ||
| Cmmagnussen |
Might as well send it. Might sway them towards a real buyer instead of a liquidator. | ||
| Hughlysses |
Yea, I would think the letters would still be of value. The judge could chose to accept a lower bid from someone who's going to keep building motorcycles rather than a higher bid from a liquidator. | ||
| Reepicheep |
I have to assume that the reason a millionaire hasn't snapped this up is because anyone who gets to be a millionaire looks at exactly what they are buying, and has a good idea of how they will productively employ it, before they buy something. Are the auctions crashing because it is hard to tell what you are buying? That was the claimed issue with the first auction, Bruce Belfer has a vision but the financing banks didn't share it, particularly after Hero wandered back in to pee in the pool again. Or are the auctions crashing because people do see clearly what they are buying, but look at it and say, based on what is still left, "if I just want a motorcycle company, this isn't the best path to have one". I'd love to see EBR resurrected again in some new form. But EBR is gone, people and assets are already dispersed. And Buell is even goner. And most people don't even know Buell Motorcycle company even existed. If EBR comes back, it would be version 4.0 at this point, and would look like Buell or EBR in the same way that Windows 10 looks like MS-Dos. This makes me sad and nostalgic, and even a little in awe of the people who gave so much to keep such an impossible thing going for so long. | ||
| Buelliedan |
"Some of these potential buyers have indicated, while they were not interested in submitting an offer that would have exceeded the $3.15 million offer from GP Holdings USA that was subject to a financing contingency, they may have an interest in submitting an offer that exceeds the current $1.6 million offer from Liquid Asset Partners, LLC," the letter noted. This was the problem I saw with the Dec auction. I was told you would need to bid at least 3 million to be considered as this GP holdings was already committed to that. Then I was shocked when I heard it went for 1.6! | ||
| D_adams |
Yeah, well, after I win the Powerball tonight, I'M buying it. | ||
| Bruce_belfer |
For the record, the only missed deadline was 9/30, and the reason was the HERO asset claim. I walked in the door ready to go and got stalled when they failed to secure what they had just sold me. Simple as that. This third auction is the receiver's attempt to drive up the price. Regardless, I'll be there on the 13th and the 14th, and I'm not walking in empty handed. Be one hell of a story when it's over. Never Quit. B | ||
| Ljm |
Thanks, Bruce. | ||
| Thumper1203 |
Thanks for the fact-check Bruce! ..yeah, something didn't add up quite right in the articles verbiage. Hanging tough & hoping the best for you here | ||
| Court |
Excellent ! We're eager to write that story ! Ive got bushels of EBR material, from the first day an "EBR" was even talked about. I'd love for the ending of the next book to be great. | ||
| Thumper1203 |
Be one hell of a story when it's over. Never Quit My take.. this period of struggle and strife will be another dose of "epic", and surely heartfelt in the saga of the great American sportbike comeback someday.. Market-share loves a good story | ||
| Mr_keys |
Bruce!We Brazilians wish luck to you in the auction ! Truly , it looks like the right person to join the company. | ||
| Footstuck |
Best of luck on the day Bruce Glad to hear you're still in there. | ||
| Willmrx |
Wishing Bruce the best of luck as well! (Message edited by Willmrx on January 06, 2016) | ||
| Airbozo |
"This third auction is the receiver's attempt to drive up the price." This is my thought as well. Not sure of the rules of auction in this case, but unless there is a reserve price set, shouldn't the highest tendered bid stand? Is it sealed bid or open auction? | ||
| Court |
I think there is a LOT going on behind the scenes. :-) | ||
| Hughlysses |
I almost wonder if the receiver didn't accept the bid from the liquidator betting the judge would throw it out, thereby generating more publicity for the sale and bringing in more bidders for a later sale. | ||
| Hughlysses |
Another article with a little additional info: http://www.biztimes.com/2016/01/06/new-auction-set -for-erik-buell-racing/ | ||
| Ratbuell |
Murray’s letter to Koss indicates the facilities were secured. Hmm...wonder if Bruce has rented himself some building space in ET? | ||
| Davegess |
It is not an auction in the way most of think about auctions. Chapter 128 is a very unusual process, in many ways unique to Wisconsin. | ||
| Davegess |
BTW that GP holdings group looks interesting. | ||
| M1combat |
It does for sure... | ||
| Willmrx |
http://www.gpholdingsusa.com/index.html |
