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  #1  
Old 02-02-2009
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Exclamation Saleen Incorporated Finds Buyer For Part of Assets




Breaking News: Exclusive
By SOEC/Saleen Forums News Staff, February 2, 2009


After announcing it was looking for a buyer in early November, Saleen Incorporated announced today that MJ Acquistions has acquired certain assets of America’s premier automotive lifestyle brand, relating to Saleen’s supercharger, aftermarket and high performance street vehicle businesses.

The transaction reportedly was finalized last Friday, which left all of the employees (including Saleen Inc. CEO Chris Theodore) with the legal formality of being without jobs -- at least temporarily. Some hirebacks have already taken place as the transition progresses.

While the terms of the deal were not disclosed, the purchase does not include the assets associated with the supercar (S7 or S5 Raptor vehicles) or the paint operations, which will remain with Saleen Incorporated.

The ownership of MJ Acquisitions controls a family of companies which provide full service engineering, design, manufacturing, assembly and control systems for the automotive industry. It's affiliated companies include Cyltec, LLC, Power-Tec Engineering, LLC, Arrow Racing Engines, LLC, and Control-Tec, LLC.

"MJ Acquisitions and its affiliates are a group of true car professionals with vast experience in the engineering, production, assembly and distribution of performance and racing vehicles" said Theodore in a press release. "This influx of new life into the Saleen, RaceCraft and SpeedLab brands is a win-win situation."

Theodore noted loyal Saleen customers, dealers and enthusiasts can look forward to an exciting transition period.

"We moved on this purchase quickly to ensure that the process of delivering high-quality automobiles and components to the consumers is not disrupted," said Mike Shields, President and CEO of MJ Acquisitions. "We are working with the talented team from Saleen and our own experts to continue the quality, delivery, and performance the customer base and dealership network have come to expect from the Saleen brand. I am particularly excited about Saleen's supercharger experience and its synergies with Power-Tec's development of the next generation of superchargers."

Immediate plans are to roll out the 2010 version of the newly designed Mustang for the Racecraft brand and commence other Racecraft designs for additional vehicles. The new Mustang is shipping from Ford later this month. Additionally, the Saleen brand will have a new design of the flagship S-Line that is already in the works and scheduled for release in the third quarter of 2009.

While this announcement may provide more questions than answers for some, Saleen owners should be assured that key warranty and sales staff are still at the company to serve dealers and owners, with more hirebacks likely coming in the days ahead.

MJ Acquistions does plan to work with the dealer network and others to establish the future product line. A company spokesperson told SOEC that more announcements will be forthcoming, so stay tuned.



Last edited by Saleen Forums Admin; 02-02-2009 at 08:23 PM.
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Old 02-02-2009
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Cool thanks for the update...
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Old 02-02-2009
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Interesting.
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Old 02-02-2009
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Will See............................................... .................
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  #5  
Old 02-02-2009
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If MJ only purchased "certain assets", then Saleen Inc. is still going to exist in some form - I assume they have another buyer lined up for the rest of the business???

Chris.
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  #6  
Old 02-02-2009
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Is it really a Saleen if Steve Saleen himself is no longer with the company?
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Old 02-02-2009
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Quote:
Originally Posted by saleen191 View Post
Is it really a Saleen if Steve Saleen himself is no longer with the company?
Every time Saleen gets sold the product is further diluted. The last true Saleens that were produced were when Steve was with the company. Its been very disappointing for us long time owners and enthusiasts to see whats happened to this wonderful car. You don't see Jack Roush or Carol Shelby seperated from their cars. New Saleens have lost there true identity since the investors made a poor decision in making Steve leave. That was a terrible mistake! I know one thing for sure! My next Mustang will be a Shelby!
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Old 02-02-2009
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Well if your going to say that, then really the "shelby" is not a shelby. They only pay him to use his name. They are not produced in LV by people that work for Shelby, they are produced at a ford plant by ford employees. He does have imput as to what Ford does with the car but that is really about it UNLESS you do the SuperSnake package which IS done by Shelby in LV.
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Old 02-02-2009
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Lot's of questions to say the least...
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  #10  
Old 02-02-2009
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and who knows if we will get the answers to all of those questions.
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  #11  
Old 02-02-2009
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Originally Posted by awayne View Post
Well if your going to say that, then really the "shelby" is not a shelby. They only pay him to use his name. They are not produced in LV by people that work for Shelby, they are produced at a ford plant by ford employees. He does have imput as to what Ford does with the car but that is really about it UNLESS you do the SuperSnake package which IS done by Shelby in LV.
At least Carol Shelby still has some input even if Ford is building the cars. The Super Snake is one awesome Mustang. Living in So Cal I have been fortunate to talk to some owners of them. Lots of $$$$$$$$$$. The Saleen Idenity is not the same anymore. What a shame.
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Old 02-03-2009
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The last owners of Saleen don't seem to have done much for it so lets hope MJ can improve things. They seem to have alot of auto industry experience.
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  #13  
Old 02-03-2009
robert patrick robert patrick is offline
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The future continues to look cloudy for we who have invested in the Saleeen product. If I had known that Steve was going to leave, I would have never purchased my PJ. By the way, does anyone have an idea of how much I should expect to get if I sold my PJ, no. 158, 3300 miles on it?
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  #14  
Old 02-03-2009
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Default Saleen minus Steve?

All good comments about whether a Saleen is diluted post Steve leaving. Time will tell, in the meantime I think I'll hang on to my 99 S281 just in case the jury decides a true Saleen is only while Steve was at the helm.
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Old 02-03-2009
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Default Saleen watered down??

I understand where each member is coming from, yes it would be nice if Steve was still 100 percent steering the ship. Lots are talking about going to a Shelby, be warned I owned a 07 Shelby SGT. The qualty was as poor as I have even seen. Carrol himself appointed the Ex President of Matel toys, Amy Boylan to head up the entire Las Vegas operation. Want to talk about watered down? What could a woman who dealt in toys possibly bring to a high preformance car company? I can tell you this (or better yet, go to Shelby Owners Forums) and ready about the crappy quality of the cars that Amy pushed out the door to meet deadlines and quotes that she set. I take that back, most that complain on that forum she kicks off the forum so you unlikely will see many that complain. My SGT was falling apart, front tires completely shot after 2000 miles (they forgot/overlooked) that when a car is lowered the Caster/Camber needed to be re-adjusted. The cheap vinyl strips were spotted and lifting off. I traded the car with 5000 miles on it for my Torch Red Saleen S281SC with no regrets. At least this company (MJ) that is buying up some of Saleens operation is into performance cars and not toys. To each his own but if you going to bail from Saleen my 1st. choice would be a Roush, Shelby's no longer on my list. I regret that fact because Carrol has been a hero of mine for years. I would like to add that I have 3 races with my Saleen against the Shelby 500, 1 was the 1.8 mile, the other two were 1/4 mile runs. I lost one, the 1/8 mile with my 465 ponys pumping their hearts out, I redlined 2nd gear, spit and spuddered on the limitered a split second too long.
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Old 02-03-2009
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Quote:
Originally Posted by SIK281 View Post
I understand where each member is coming from, yes it would be nice if Steve was still 100 percent steering the ship. Lots are talking about going to a Shelby, be warned I owned a 07 Shelby SGT. The qualty was as poor as I have even seen. Carrol himself appointed the Ex President of Matel toys, Amy Boylan to head up the entire Las Vegas operation. Want to talk about watered down? What could a woman who dealt in toys possibly bring to a high preformance car company? I can tell you this (or better yet, go to Shelby Owners Forums) and ready about the crappy quality of the cars that Amy pushed out the door to meet deadlines and quotes that she set. I take that back, most that complain on that forum she kicks off the forum so you unlikely will see many that complain. My SGT was falling apart, front tires completely shot after 2000 miles (they forgot/overlooked) that when a car is lowered the Caster/Camber needed to be re-adjusted. The cheap vinyl strips were spotted and lifting off. I traded the car with 5000 miles on it for my Torch Red Saleen S281SC with no regrets. At least this company (MJ) that is buying up some of Saleens operation is into performance cars and not toys. To each his own but if you going to bail from Saleen my 1st. choice would be a Roush, Shelby's no longer on my list. I regret that fact because Carrol has been a hero of mine for years. I would like to add that I have 3 races with my Saleen against the Shelby 500, 1 was the 1.8 mile, the other two were 1/4 mile runs. I lost one, the 1/8 mile with my 465 ponys pumping their hearts out, I redlined 2nd gear, spit and spuddered on the limitered a split second too long.
SIK281
Maybe you got a bad version?

All the GT500's I've seen were first class.

Even if Shelby is poor quality (and I still say no) Saleen isn't much better.
I love my Saleen, but lets not pretend theres any sort of "quality" in this car, either.

Any time body parts are held together with 3m tape and zipties, theres nothing screaming out QUALITY.

I could fill up a page about the stuff I've seen on my car...I'm a fabricator, and I have had just about every major piece of my car apart, so I know backwoods "engineering" when I see it.

Trust me..the way some of these things are put together...its scary.

I will also add...even if they have a misplaced toy manager heading up a car company, at least Shelby can say they haven't been in the news being sold, and have employess leaving to open up new companies. Shelby is stable, and you can get WARRANTY work completed on one at just about any Ford dealer in the country.

Can you say that about Saleen? Absolutely not.
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Old 02-03-2009
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This article at edmunds is quite insightful...

http://www.edmunds.com/insideline/do...ticleId=141288
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  #18  
Old 02-03-2009
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Now be careful what you're comparing here. GT500s are a production-line Ford car - they don't go anywhere near Shelby. The GT500KR and SS are the ones that are handled by Shelby (the SGT I am not sure about, but I believe that was also done at Shelby). As far as warranty - I discussed this with Shelby Inc a fair while ago, and I got the impression that the warranty on the "Shelby" parts was pretty much handled in the same way as Saleen.

Shelby has had its fair share of troubles too - the "Shelby vs SAAC thing made all of us Shelby owners fell like we were children in a messy divorce! I certainly am not qualified to comment on the quality of the cars, but there was also one long and heated thread over on the Team Shelby forums about a guy who was sold a damaged and repaired KR as a new vehicle. Not knocking Shelby Inc, just saying that they have problems too...

I have had a few "quality" issues with my Saleen, but nothing serious so far - OK, I'll admit that she only has 150 miles on the clock, so time will tell . Interestingly enough, I have a very similar issue with my '68 Shelby (incorrect data plaque) - but I think that one's a little out of warranty!

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Quote:
Originally Posted by Unclemilti View Post
Maybe you got a bad version?

All the GT500's I've seen were first class.

Even if Shelby is poor quality (and I still say no) Saleen isn't much better.
I love my Saleen, but lets not pretend theres any sort of "quality" in this car, either.

Any time body parts are held together with 3m tape and zipties, theres nothing screaming out QUALITY.

I could fill up a page about the stuff I've seen on my car...I'm a fabricator, and I have had just about every major piece of my car apart, so I know backwoods "engineering" when I see it.

Trust me..the way some of these things are put together...its scary.

I will also add...even if they have a misplaced toy manager heading up a car company, at least Shelby can say they haven't been in the news being sold, and have employess leaving to open up new companies. Shelby is stable, and you can get WARRANTY work completed on one at just about any Ford dealer in the country.

Can you say that about Saleen? Absolutely not.
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Old 02-03-2009
awayne awayne is offline
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Quote:
Originally Posted by Unclemilti View Post
Maybe you got a bad version?

All the GT500's I've seen were first class.

Even if Shelby is poor quality (and I still say no) Saleen isn't much better.
I love my Saleen, but lets not pretend theres any sort of "quality" in this car, either.

Any time body parts are held together with 3m tape and zipties, theres nothing screaming out QUALITY.

I could fill up a page about the stuff I've seen on my car...I'm a fabricator, and I have had just about every major piece of my car apart, so I know backwoods "engineering" when I see it.

Trust me..the way some of these things are put together...its scary.

I will also add...even if they have a misplaced toy manager heading up a car company, at least Shelby can say they haven't been in the news being sold, and have employess leaving to open up new companies. Shelby is stable, and you can get WARRANTY work completed on one at just about any Ford dealer in the country.

Can you say that about Saleen? Absolutely not.
I will tell you that not ALL GT500's are "first class". I have hauled my far share of them and have had a few where the racing stripes were not put on correctly.... Not even stuck on completely!

Now, how this went through quality control and was NOT spotted is beyond me since I noticed it right away and so did the original dealer and receiving dealer.

As for warranty, on "some" of the saleen parts you can get done at a non saleen dealer as I have done before. Now, the dealer is taking a risk on doing this but this was a few years ago when I did this. Like stated above Shelby is not all what they are cracked up to be... Really Carroll has almost nothing to do with the company as much as he use to because of his health problems and age. He has others running most of it for him and with the GT500 Ford gets to use his name.

We keep talking about Shelby and Saleen... what about Roush??? I know back in the late 90's there cars just had stuck on ground effects with 3M tape and I had seen some cars at dealers that had the stuck on parts falling off. I don't know anything regarding warranty with Roush but have heard that dealers have had hard times getting them to pay for warranty claims but I don't know if this is true.
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Old 02-03-2009
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Quote:
Originally Posted by Jim D. View Post
This article at edmunds is quite insightful...

http://www.edmunds.com/insideline/do...ticleId=141288
Looks like Simisaleen was quoted in that article.
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Old 02-03-2009
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The Shelby GT's have had ALOT of quality issues including their hood scoops, strips fading. The GT500 on the other hand has been great.. BUT Shelby does NOTHING with the GT500... the regular GT500s get nowhere near the Shelby Factory.

I think this sale was a good thing for Saleen.... at least it is now back in the hands of car guys.
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Old 02-03-2009
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My experience with warranty work has been judged by one thing and only one thing and thats what dealer you are using. NO MATTER WHAT MAKE OR MODEL. Some dealers really want to keep the costumer happy, some could care less.

Unclemilti, if you want a Shelby, bro go get ya one! I hope you do not have the issue's other have, good luck with it. Be sure you forget your freedom of speech on their forum, if it starts falling apart just keep saying "Shelby's the best" they will love you to death.
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  #23  
Old 02-03-2009
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Quote:
Originally Posted by SimiSaleen View Post
Every time Saleen gets sold the product is further diluted. The last true Saleens that were produced were when Steve was with the company. Its been very disappointing for us long time owners and enthusiasts to see whats happened to this wonderful car. You don't see Jack Roush or Carol Shelby seperated from their cars. New Saleens have lost there true identity since the investors made a poor decision in making Steve leave. That was a terrible mistake! I know one thing for sure! My next Mustang will be a Shelby!
If memory serves me right. Shelby lost Shelby American during the Series 1 production. The assets were purchased by an outside party. Eventually that party went into bankruptcy and Shelby purchased the name Shelby American and remains of the Series 1 back. Even though the Series 1 could no longer conform to regulations and the American name was no longer in use. If my mind serves right.

Roush cars have their own history. You figure, in around 1995 you could have purchased a DIY kit from a vendor and went-to-town on your new SN-95. By the late 1990s, dealer built Roush cars were still a norm. They are neat cars, with their own styling... but when they came out... I had the tendency to view them as a sales alternative to when financing for a new Saleen would/could not go through. They also offered a nice entry package on the V6.

I'd go Steeda over Roush and Shelby. Granted, much like Roush... Steeda did not keep close track of what they built for their respected serialized lines for years-and-years, but they did keep up with racing stock bodied cars that can relate to a customer in addition to a fully stocked catalog of trick components. That's one of the reasons I dug the Escort SS/GT Saleens. Real cars that appear similar to what Joe-anyone drives. While Saleen Performance Parts offered their own array go-fast-goodies.

Saleen became a "Lifestyle" (image) brand. Creating GT Touring Cars for a wide audience while churning 1,000-1,500 vehicles a-year. Promoting style, a loose connection to the S7, and a Mustang competition effort over previous generations.

Short of an S7R... the only thing I can think of thats close to a Motorsport Saleen for the S197 era, are any number of the JDM drag cars. next would be the '99/'00 widebody effort.


I believe the Shelby GTs are a special knockdown unit. If you see the pool cars... they appear to ship as wing delete GTs with the GT/CS exterior styling trim. The black wheels on the black chassis' also appear to be Ford placed.

The Shelby GTs also run in the SCCA T2 class and competes well.


To wrap this up though... Shelby, Saleen and Roush all have a team of engineers and designs working on their product. You'll have a hard time convincing me that day-to-day street car building for any of the above goes beyond an employee asking... "do you like this, or that?"

Buy the vehicle you like, not for the name that's on it.
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Old 02-04-2009
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I love BOTH of my fox bodies, AND my SN-95 Saleens. None of the NEGATIVE COMMENTS here can take away from that. I'm sure that future enthusiasts will agree.

Some folks just gotta be "That guy" I guess.
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Old 02-04-2009
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The thing for folks to keep in mind... every era is/was different. The recent news is just another change. Every model, every series changed the company product over the past 20-years.

If "new Saleen" can produce a stylish Motorsports car at a competitive price... sign me up.


I hope I don't come off as one of the "haters." Cause really, I enjoy and respect all the various models since each offer something unique.
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Old 02-04-2009
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Quote:
Originally Posted by Dave View Post
The thing for folks to keep in mind... every era is/was different. The recent news is just another change. Every model, every series changed the company product over the past 20-years.

If "new Saleen" can produce a stylish Motorsports car at a competitive price... sign me up.


I hope I don't come off as one of the "haters." Cause really, I enjoy and respect all the various models since each offer something unique.

What a respectful, (and refreshing rare) response. In 2009, it's almost IMPOSSIBLE to take ANY board seriously anymore. Haters can commence... I refuse to let them take ANY joy out my Saleens. (Or any other great Mustangs, for that matter.)
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Old 02-04-2009
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Originally Posted by ctann View Post
Now be careful what you're comparing here. GT500s are a production-line Ford car - they don't go anywhere near Shelby. The GT500KR and SS are the ones that are handled by Shelby (the SGT I am not sure about, but I believe that was also done at Shelby).
Chris.
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Originally Posted by TPSMak View Post
The Shelby GT's have had ALOT of quality issues including their hood scoops, strips fading. The GT500 on the other hand has been great.. BUT Shelby does NOTHING with the GT500... the regular GT500s get nowhere near the Shelby Factory.
Hmmm..I'm not saying you guys are wrong...but why are there thousands of what looks like GT500's in the Shelby lot in LV in this video? Or are they GT350's?

Surely Ford doesn't ship them all the way to Vegas to just sit there, do they?

http://youtube.com/watch?v=4DJG7d6Ra_k

Last edited by Unclemilti; 02-04-2009 at 08:12 PM.
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Old 02-04-2009
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The part of the video that says "Shelby Lot" shows Shelby GTs not GT500s.
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Old 02-04-2009
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Yes, what Tony said. GTs.


Am I wrong, or does Shelby LV produce the GT 500 KR?
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  #30  
Old 02-04-2009
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Quote:
Originally Posted by Unclemilti View Post
Hmmm..I'm not saying you guys are wrong...but why are there thousands of what looks like GT500's in the Shelby lot in LV in this video? Or are they GT350's?

Surely Ford doesn't ship them all the way to Vegas to just sit there, do they?

http://youtube.com/watch?v=4DJG7d6Ra_k
I just watched the video and ALL the cars in the lot were Shelby GT's.. they are NOT even GT350s as they do not exist from Ford or Shelby besides the ones from the 60s.

Yes, Ford actually does ship all the cars to Shelby to convert. They would be better off sending them to Troy and letting Saleen do the conversions.
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  #31  
Old 02-04-2009
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All they do now in Troy is paint...
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Old 02-04-2009
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Quote:
Originally Posted by Unclemilti View Post
Surely Ford doesn't ship them all the way to Vegas to just sit there, do they?
I'm not sure about that particular video, but when the base GT500's were shipped to Shelby for conversion to KR's, there was a big holdup - several months - and so yes, the cars just "sat there" (although we were assured that they were kept inside) - around 950 GT500's lined up waiting for conversion... I'm not sure how many Shelby GT's were made, but there were in the order of 1500KRs, all converted at Shelby Las Vegas. Supersnakes are abit of a different story, as I believe they are upfitted at a number of "authorised installers" arund the country.

I followed the whole KR thing closely for a long time - I had a deposit down at a dealship on one shortly after they were announce. My car was finally scheduled for delivery 18 months later, but I had finally given up, and went with the S302E instead.

Chris.
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Old 02-05-2009
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All they do now in Troy is paint...

You know... I think I feel some pain in your words, and if I am correct, I must say I can relate.

I think about the countless times I had been to Saleen's Fairbanks facility in Irvine, and all that's left of the hundreds of dedicated employees who were inspired by the passion of the man called Steve Saleen, and all the grandeur -- some of which can be seen here...




(See this thread for a link to the autoblog article online... http://saleenforums.soec.org/showthread.php?t=4125)


... it was something to behold.

All that is now just an empty dark shell with walls torn down and only dust on the floor.

I was there during much of the teardown in August and early September of last year. Things worth seemingly nothing were sold while others that seemed to have much value were broken with sledge hammers and thrown away.

When all was said and done, only 8 or 10 were left by October, and those few were moved to a small building across town... today, only one or two of them remain.


What the new owners will do with the the brand we have come to know as Saleen -- or even Racecraft for that matter -- will be interesting to see.

It was a little bitter sweet for me, to say the least, to hear earlier one day recently that virtually everyone we had worked with at Troy was let go. And ironically, later that evening we saw Steve unveil the new SMS Challenger 570 and give us a glimpse at the future of what he sees as a next generation of American Muscle.

It's an impressive look, to be sure. And I must say that while I did dance that night -- because the event was a celebration of a rebirth of sorts -- heading home I couldn't help but think that the day also signified an end to quite an era that lasted for 25 years.

I wonder what the next 25 will bring...
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  #34  
Old 02-05-2009
risaleen risaleen is offline
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Default new owners...

Well all I can say is I love my 06 extreme. No problems yet and compared to the 500, KR500 and rousch - it is still the best all around imho.

I will admit part of the purchase was based on the saleen heritage and that being said I will probably keep this model for a lot longer than expected due to recent craziness.

I am sure that when Mr. Shelby passes away that brand will suffer greatly and most people will want only the vehicles produced during his career.

With Steve's departure I know where I will be purchasing my next car from. However it would be interesting if the new owner of Saleen hired Steve back and offers him 70% controlling stock.



Oh yeah by the way , I am releasing the new Bruce Springsteen album, he is not singing on it, nor did he help promote or do any work on it. In fact it is just a continuation of melodies from previous cd's and his name is on the cover - think anyone is going to buy it???? Maybe I can work a deal with the 2010 Saleen and put a free copy in each vehicle.
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Old 02-05-2009
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Originally Posted by Jim D. View Post
I think about the countless times I had been to Saleen's Fairbanks facility in Irvine, and all that's left of the hundreds of dedicated employees who were inspired by the passion of the man called Steve Saleen, and all the grandeur -- some of which can be seen here...
...
If you happen to be in that area, a few "after" photos would be great - a poignant end to a great story. And for a blast to the past, take a look at this Shelby page. Make sure you scroll down to the bottom for a few "recent" photos.

I read a quote that Steve Saleen took out a lease on the "Saleen Store" building. I was sad I never got down to visit the store, it looked amazing. Lets hope Steve can bring back some of its glory...

Chris.
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  #36  
Old 02-05-2009
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I hope Steve sets up a shop in Michigan as well as California (wishfull thinking..and selfish!) I have had zero problems with my H conversion to 302 with all the bells and whistles. The only issue I have is wiping the look of the faces of any passenger in the car when I put her through the paces! Priceless!!!

In so far as Shelby's; I was at Flatrock Assembly to see the 2010 before it was introduced, and yes Shelby GT500's are manufactured there. I watched them roll off the line (current model). However, I do not think this was the case initially.
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  #37  
Old 02-05-2009
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http://www.autoweek.com/article/2009...NEWS/902059976

Saleen buyers have considered Dodge Viper purchase

The investors who just purchased most of the assets of specialty-car maker Saleen Inc. have considered buying the Dodge Viper business, though it’s unclear whether they are among the three bidders Chrysler has publicly acknowledged.

“We’ve considered a purchase of Viper,” said Mike Shields, who along with his brother owns controlling interests in several Michigan auto-related companies.

Their group includes Cyltec, Arrow Racing Engines, Control-Tec and Power-Tec Engineering. Using the name MJ Acquisitions, they bought Saleen’s street-performance car, aftermarket and supercharger business on Jan. 30.

Chrysler has been pondering a sale of the Viper sports-car business since last year. Copresident Jim Press said on Tuesday that the company is performing “due diligence” on three proposals.

The Viper operation is thought to include the factory in Detroit, the workers and the car itself, which is powered by a 600-hp V10.

Shields would not say whether his group is among the three bidders.

“That’s a touchy little subject there,” he said.

Chrysler declined to comment on the three potential bids, or the timetable for a deal.

“I’m not disclosing the name of the companies,” spokesman David Elshoff said.

Shields also gave more insight into his plans for Saleen, saying he expects to continue with the aftermarket and supercharger business.

But, he said the group is still evaluating whether it can profitably continue the Racecraft brand and the flagship S-Line, though Shields said he hopes to. The 2010 Ford Mustang was expected to be used by Saleen as the base for performance models under those brands, but that is in question.


“If the economic conditions continue to deteriorate . . . then we’ll change our mind,” he said.

Shields’s group bought the Saleen assets from Hancock Park Associates, a Los Angeles-based investment firm. Not included in the deal were the S7 and the S5 Raptor concept, which former Saleen president Chris Theodore is trying to sell as he winds down his duties this month.
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Old 02-06-2009
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Not included in the deal were the S7 and the S5 Raptor concept, which former Saleen president Chris Theodore is trying to sell as he winds down his duties this month.
Anyone fancy cashing in their 401ks and buying out the plans for the Raptor? :->
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Old 02-06-2009
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unfortunately I think it would take a lot of investors if we are talking using 401K plans..I have a feeling the S series is done...there will probably be a do-it-yourself kit...wonder if it will come with a dash/firewall placard...we will see...all hail SMS!
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Old 02-06-2009
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Originally Posted by tonylop33 View Post

Shields also gave more insight into his plans for Saleen, saying he expects to continue with the aftermarket and supercharger business.

But, he said the group is still evaluating whether it can profitably continue the Racecraft brand and the flagship S-Line, though Shields said he hopes to. The 2010 Ford Mustang was expected to be used by Saleen as the base for performance models under those brands, but that is in question.

“If the economic conditions continue to deteriorate . . . then we’ll change our mind,” he said.
That does not bode well or future saleen vehicles. All I will say is I'm glad I got mine.
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Old 02-06-2009
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I agree 100%. I am also glad I have my Saleen for two reasons 1) certainly the turmoil at Saleen and 2) because I happen to like the '05 to '09 look over the '10.
And now that I have upgraded to the SuperShaker I can just sit back an enjoy my PJ and at a useage of 2000 miles a year it will be around for a very long time.
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  #42  
Old 02-06-2009
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I hope warranty work can still be honored. Beyond that I am gald I got my '07 and look forward to future upgrades!
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Old 02-06-2009
MeNotYou MeNotYou is offline
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Sound not so good...So when the Saleen name is completely gone what does that do to the ones already sold 84-2009?
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Old 02-06-2009
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Anyone fancy cashing in their 401ks and buying out the plans for the Raptor? :->
Hmmm.

That's a three prong project. First we have the buy the S5S design, then we have to visit Ford to purchase the Ford GT chassis program, then we have to approach MJ for the 302 S/C drivetrain.

We'd be better with the S7.
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  #45  
Old 02-07-2009
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It's tough for ALL specialty car manufacturers... I can't blame the new owners of Saleen on concentrating on what works RIGHT NOW

I like in Silicon Valley and money is usually good here BUT sales of high end Mustangs such as Roush and Saleen have came to a screeching halt. If they are not selling where I'm at... I'm sure they are not selling in other less affluent areas,
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Old 02-07-2009
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Some of it depends on the intent of purchase. If the new owners simply wanted the Supercharger and/or engine programs and got a great deal on the street car and name rights, not bad.

They also purchased an established dealer network and possible "brand" for items developed under their various holdings.

The larger picture could also place Saleen as just another piece of the MJ puzzle, like Arrow Engines, and not a last or significant piece. Maybe CT & HP knew how to group the assets. Knew what one or two divisions were important and grouped it with the lesser stuff.

Time will tell.
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Old 02-07-2009
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Originally Posted by robert patrick View Post
By the way, does anyone have an idea of how much I should expect to get if I sold my PJ, no. 158, 3300 miles on it?
Maybe $35,000-$40,000 if you wanted to really sell it. Speak to Greg (saleenlocator). One problem with the PJ, dealers still have new ones. The plus side, most of those have been sitting outside for two-years. Making a used, garaged, pre-owned version a better buy.

Quote:
Originally Posted by Brody View Post
Time will tell, in the meantime I think I'll hang on to my 99 S281 just in case the jury decides a true Saleen is only while Steve was at the helm.
True. Time is an interesting thing. Same was said about the 1965-67 LAX Shelby cars. Those were the "true" and the 1968-70 were not. Then, it didn't seem to matter. The Sterling, Gurney, and Dark Horse would be the three to watch. Second tier to watch could be the 2007-08 H cars. Third could be the 2007/08-09 S cars. Though at some point, this all gets silly.

Quote:
Originally Posted by Jim D. View Post
This article at edmunds is quite insightful...

http://www.edmunds.com/insideline/do...ticleId=141288

Quote:
Originally Posted by USMC0341 View Post
Looks like Simisaleen was quoted in that article.
Chris Theodore seemed to have had a good head on his shoulders from the interviews he did. We do know there is a group of "fanatics" that will follow Steve Saleen anywhere and everywhere. Besides a bad economy, overproduction, and questionable pricing, the exit of the Saleen in Saleen, Inc did create a loss in customer base.

When McCammon gave his "relaunch" speech last year. That was the beginning of the end for the fanatics. "Saleen is more than man...", "we rested... took a nap... now we're going to have a performance assault like you've never seen..." blah blah. I'm not a "Steve is Jesus" enthusiast, but after record production during the S197 model and unmatchable performance numbers to that point... where was the nap? Ah, the web of marketing.

2008 was a relaunch that few noticed. Dan Gurney signature events that failed to attract Dan Gurney. I mean really. A moot point since few took notice of his SE car.

The plus side... the "fanatics" represent a fraction of the public. Not everyone with a Saleen vehicle followed the man or the company that produced it. So, a customer base does exist for the vehicles and various parts. So, MJ can produce a Saleen vehicle with success if they know how to sell to a performance oriented customer base. Whether they want to respect and give a nod to history while moving forward or try and do a 2nd act of the history wash like HP/ASC, is up to them. It can be an intense web, so if the name is never used on a streetcar again... it will not be a puzzle.

Quote:
Originally Posted by SCMcQueen View Post
...there will probably be a do-it-yourself kit...wonder if it will come with a dash/firewall placard...we will see...all hail SMS!
DIY kit. That would be a bummer. The neat thing about an SMS 460 Mustang, it will be different, it will be something new. If it remains an ultra-exclusive, premium lifestyle vehicle, then it will be an occasion when one is spotted. They won't be rotting on dealer lots. You're also seeing and purchasing another work by the legendary Phil Frank. One of the few things you can pre-order without seeing. You know it will look right.

If the economy picks up, if MJ has interest in producing Saleen vehicles, and has a budget for racing. That's what I would do. Instead of being Born of Racing... Be Racing.

Other than that... the battle of Country Club performance-inspired Mustangs, doesn't interest me. Then too... I'm not the customer base or age bracket for these vehicles.
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