View Single Post
  #42  
Old 03-10-2009
awayne awayne is offline
Senior Saleen Forums Participant
 
Join Date: Sep 2002
Location: Ohio
Posts: 273
Default

Quote:
Originally Posted by Jim D. View Post
You're a tad confused.

As the story has been unfolding, MJ Acquisitions is effectively a victim here, along with the rest of us.

If they shot themselves in the foot, it was not intentional.

The Saleen, Speedlab and Racecraft brands now belong to MJ; the company named Saleen, Inc. is taking its mounting debt -- along with the under-funded warranty fund -- down the proverbial drain. At least that's how it's looking.
Alrighty... So when you are buying something from any of the 3 brands who are you buying from... MJ? Basically they got the 3 brands and no debt but "Saleen Inc" kept there name and the debt and now went BK and screwed all the owners of current vehicles?

If this is true, I wouldn't say that MJ is the victim since they knew what they wanted in the deal but they should have expected the Saleen Inc would be going BK very soon based on all the layoffs and such.
__________________
Wayne
89-0159 SSC

SOEC Member and Supporter