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  #1  
Old 03-04-2009
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Exclamation Saleen Inc. Prepares Announcement Regarding Warranty Claims





Saleen Inc. Prepares Announcement Regarding Its Ability To Honor Warranty Claims


Breaking News: Saleen Owners and Enthusiasts Club/Saleen Forums News
March 4, 2009 -- Irvine, California -- Less than a month after the "sale of certain assets" by Saleen Inc. to MJ Acquisitions -- a deal to which the details still remain unclear -- Saleen Inc. prepares to announce that it is unable to honor any warranty claims on its vehicles and aftermarket parts.

Immediately following the sale, it seemed that it was "business as usual" for Saleen owners, since some were reportedly receiving support for warranty claims through dealers, as well as directly from employees of MJ Acquisitions, but that is no longer the case and they are now referring inquiries to Saleen Inc.

While production of vehicles had been stalled for some time, its aftermarket parts business under the Speedlab brand also picked up where it left off before the sale. MJ Acquisitions stated in the sale announcement that it was exploring its options for the 2010 model year Ford Mustang under the Racecraft brand initially, and to hopefully follow with the S Series.

Plans for the future of the Saleen branded vehicles are now more unclear, though MJ Acquisitions stated it will continue to produce service parts, performance accessories, and develop new products through its Speedlab department.

Saleen Inc., whose headquarters was moved from Irvine to Troy, Michigan last year, is still majority-owned by Hancock Park Associates, which also owns ASC Global. Following the sale of certain assets to MJ Acquisitions, the company stated it continued to seek a buyer for its sophisticated paint facility, the S7 supercar program, and the S5S Raptor concept program.

While Saleen Inc. CEO Chris Theodore stated in a press release regarding the sale, "This influx of new life into the Saleen, Racecraft and Speedlab brands is a win-win situation" and he continued to note that loyal Saleen customers, dealers and enthusiasts can look forward to an exciting transition period, he has now left the company.

Furthermore, various other assets, including the prototype Racecraft Focus RC2 are up for sale.

The Saleen Owners and Enthusiasts Club (SOEC) has confirmed that Saleen Inc. prepares to draft a formal communication regarding the company's inability to honor warranty claims, and SOEC will report the details online at http://www.soec.org/news as soon as they are made available.

SOEC, founded in 1991, is the premiere organization for Saleen owners and enthusiasts, with thousands of members worldwide.

###

Last edited by Jim D.; 03-05-2009 at 11:58 AM. Reason: To clarify that MJ Acquisitions will continue to sell parts and accessories for Saleen vehicles as its core business.
  #2  
Old 03-04-2009
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ouch
hopefully something good comes from all this
  #3  
Old 03-04-2009
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So, all of us that have warranties are now up the creek without a paddle?

When we bought our vehicles new, the price of the warranty was included in the price of the vehicle....so....when are we getting our refund?

I will wait for the "official" release, but as of right now, it sounds like Saleen Inc has stolen tens of thousands of dollars from those of us with warranties. I purchased a warranty that will not be honored?

This is going to get interesting. I am sure there are a few salivating lawyers just waiting....






on the upside.....I can get some cams put in and not have to worry about a warranty void...LOL

Last edited by Light02atl; 03-04-2009 at 09:07 PM.
  #4  
Old 03-04-2009
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Just what I did not want to hear !! Im sure its too early to say if this includes warranty claims already made.
  #5  
Old 03-04-2009
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Certainly it's a "Sit tight and hope for the best" situation, but it looks like owners bonding with dealers will be more important now than ever before, as they may be forced to step up to the plate or face losing your business in the future.
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  #6  
Old 03-04-2009
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Does this mean Saleen as we have known it is gone?
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Old 03-04-2009
boomstick33 boomstick33 is offline
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so here's my question....I was waiting for the snow to melt here & get the watts link on my PJ updated per the TSB. so, umm....what do I do now??
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  #8  
Old 03-04-2009
Light02atl Light02atl is offline
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Quote:
Originally Posted by Jim D. View Post
Certainly it's a "Sit tight and hope for the best" situation, but it looks like owners bonding with dealers will be more important now than ever before, as they may be forced to step up to the plate or face losing your business in the future.

Jim, I hate to say it, but there are going to be very few dealers that are going to step up to the plate. Why should they?

Additionally, I am looking at a letter from Carlos Duran? of Saleen. Statig everything is fine.
  #9  
Old 03-04-2009
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Quote:
Originally Posted by Light02atl View Post
Additionally, I am looking at a letter from Carlos Duran? of Saleen. Statig everything is fine.
Carlos works for Techco.
  #10  
Old 03-04-2009
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Quote:
Originally Posted by boomstick33 View Post
so here's my question....I was waiting for the snow to melt here & get the watts link on my PJ updated per the TSB. so, umm....what do I do now??
I feel your pain. I dropped my PJ off at the local (Racecraft) dealer yesterday for the watts link issue and to get my speedo recalibrated. I even called Saleen before I dropped it off yesterday to confirm that the Racecraft dealer could take care of the work and that Saleen could still perform the speedo recalibration, and was assured that it would be done.

Now this.
  #11  
Old 03-04-2009
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Well #@$%$#@^& I can't think of anything positive to say about this turn of events. Considering the problems that I have already had with my dealer, it doesn't appear to look very promising. So, a car that I paid 60 grand for will be worth a quarter of that now?? Kinda wish now that I had bought the Shelby instead.
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  #12  
Old 03-04-2009
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Wink Lucky for us here in So Cal we have Techco and others

Having Techco and other local shops is one positive about living in So Cal.

There support and knowledge should get people through issues.


As far as purchasing a Shelby over a Saleen... I don't thinks so.

The styling is far superior!!!

The Saleen Community is a sunshine during these economic hard times that are effecting the car industry.

My wish is that Steve will some day get back in the mix.
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  #13  
Old 03-05-2009
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Just great. As far a lawyers and lawsuits...what assets are left?
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  #14  
Old 03-05-2009
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Quote:
Originally Posted by tonylop33 View Post
Just great. As far a lawyers and lawsuits...what assets are left?
You can build your own S7... maybe push around the S5S model. Or acquire a paint booth.

Time will tell. The sun shines tomorrow.
  #15  
Old 03-05-2009
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So, just where did all the money that MJ paid go? Or did Saleen give the "assets" away? Either way - I smell trouble. Any lawyers out there own Saleens? As I said on another site, you can't sell all your assets to a friend for a buck and then declare bankrupcy...

Chris.
  #16  
Old 03-05-2009
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and i saw it coming....unfortunately

see my original post here....

http://saleenforums.soec.org/showthr...?t=4612&page=2

Quote:
we will see what happens. Saleen Inc owes a crap load of money and they have NONE. HP is losing or lost many many millions by walking away.

Saleen employees that were laid off a month ago and before have NOT received their severance or any payments that is written in their binding employment contracts.

I know many people are talking to their own lawyers on how to handle this.

Not sure what will go public, but I spoke to the person first hand this morning who is handling the creditors and bankruptcy for Saleen Inc.
  #17  
Old 03-05-2009
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Quote:
Originally Posted by AMS MIKE View Post
and i saw it coming....unfortunately

see my original post here....

http://saleenforums.soec.org/showthr...?t=4612&page=2

Certainly there was little sign that your situation would also equate to elimination of warranty claims, while it appeared that MJ Acquisitions seemed to be handling that burden and supporting owners, at least initially.

As the dust is settling after the transaction, things are becoming more clear.

Luckily MJ will continue to be a reliable source for replacement Saleen and Speedlab parts, as well as for the former Team Saleen duties of authentication and production information.

That is little solace for those who are owed money by Saleen Inc., and for those who may be losing their factory warranties.

Again, this is where that dealer-customer relationship may be put to the test.
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  #18  
Old 03-05-2009
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Well this kind of attitude is the kiss of death for any Brand name. Dealers have no warranty obligation on their own. I have already been told by a well respected dealer here that they are tired of fighting to get paid by Saleen for warranty work and now expect owners to pay for the work and fight it out with Saleen for reimbursement.
Personally, I love my PJ, but I will never buy another Saleen product again.
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  #19  
Old 03-05-2009
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Well Bruce, you may not have to worry about buying another Saleen if they don't make any more.
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  #20  
Old 03-05-2009
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Saleen has always hadf a poor reputation on customer service. I guess that's why my (almost) 2 year old claim is still unresolved.

Why couldn't Roush have thought up the PJ concept.
  #21  
Old 03-05-2009
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I agree that Saleen has been notoriously slow when dealing with warranty issues. I hate that this has happened. I have two vehicles, that finding specialized parts for have become a nightmare and tech support is out the window, because the guys have no insight or experience with the product.
As for the reason Roush did not develop the PJ, or any other vehicle that has any sophistication or inspires awe, is that the company has never had an original idea in its existence!
  #22  
Old 03-05-2009
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Remember guys that the vast majority of the content of the cars are covered under the Ford Warranty Program. It's the Saleen equipment that will be in question.

Sit tight, we'll see what happens
  #23  
Old 03-05-2009
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Sorry if I sounded so cross, but my meaning was more in line with it hard to deal with a company that continues to surprise its customer's with negatives after they have spent a pretty good chunk of money on a vehicle.
As far as the PJ goes, it is beyond the Saleen warranty in time not mileage so the only thing I am worried about now is how we get replacement parts if something should go south or god forbid you should get in an accident.
As an example, I just had the SuperShaker installed so where would we get parts for that such as the inline filter, etc.
Anyway, what is just is so life goes on but it does leave a bad taste!
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  #24  
Old 03-05-2009
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I just talked with the folks at the new Speedlab at MJ Acquisitions, and while the Saleen Inc. announcement is still pending, they did want to make it perfectly clear that parts will continue to be available, as they have parts shipments already coming in from suppliers.

Thank goodness for small miracles.
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  #25  
Old 03-05-2009
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Jim...great, parts are available!...but...that doesnt amount to a hill of beans regarding warranty issues. If something breaks, its wonderful that parts are available...that we have to pay for and then pay for labor to be fixed.

Additionally, I was unaware that nonsaleen parts are warranteed by Ford? However, I bet if someone lifts a head, or blows a tranny or rear with an all stock Saleen (supercharged) - Ford will not cover it.

I wonder how TSBs and Safety recalls will be handled for Saleen issues. Hopefully there will not be any.

It has been said that if the big three go under, warranties will still be honored because it was included in the price of the vehicle. I do not know how Saleen would be able to get out of that, regardless of their financial situation.

Id be happy to let my warranty go to pot, just give me what I paid for it (prorated) when I bought my vehicle.

I just keep preparing for the worst, but hoping for the best.
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Old 03-05-2009
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What a shame! Too bad saleen has to end like this. Lot's of people are getting hosed. What happens to all the new saleens out on dealer lots?
  #27  
Old 03-05-2009
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Quote:
Originally Posted by Light02atl View Post
I do not know how Saleen would be able to get out of that, regardless of their financial situation.

Id be happy to let my warranty go to pot, just give me what I paid for it (prorated) when I bought my vehicle.
[reposting my post from another site...]
I did a little bit of research on warranties and bankruptcy. This little article sets the basics out nicely. The key word is "executory contract", and this article sets that out nicely.

As far as I can see, the only way for a company to stop servicing warranties is by declaring bankruptcy - in which case, we will all become creditors. I think we need to get organized on this and get a Bankruptcy Lawyer to act on behalf of existing Warranty Holders...

If SI declares bankruptcy shortly after selling off a bunch of its assets, then the bankruptcy case is going to get really messy, really quickly. If we can at least get warranty-holders treated as a "class" of creditor, we may have some chance of recovering at least something - if there is anything at all to recover!

Chris.
  #28  
Old 03-05-2009
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Looks like more than a few of us are online waiting for some good news.
  #29  
Old 03-05-2009
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I do see the bright side of being released to mod!!!!
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  #30  
Old 03-05-2009
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I spoke with a non local dealer today. I was inquiring about an 09 he had for sale. It was advertised with a full 36000 mile Saleen Warranty. We exchanged some emails and asked him if he was sure and explained the situation. He said that He called Saleen today and spoke with the warranty claims dept and they said that all saleen vehicles under warranty would have no problem getting warranty claims taken care of by Saleen.

He coulda been blowing smoke, but who knows....
  #31  
Old 03-05-2009
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Well this sucks ....
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  #32  
Old 03-05-2009
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Two days ago I took my PJ to my local Ford Dealer, who sells Racecraft vehicles. I knew there might be a problem, even though I called Saleen and was assured that the watts linkage and speedo would be covered.

The service manager told me today that after speaking with Saleen, Saleen was shipping him the parts to fix the watts linkage but that to receive reimbursement for the dealer's labor he was told he would have to contact the company's (Saleen) lawyer to discuss that.

The service manager was also told that Saleen would recalibrate my speedo as per the recall, but since he could not receive any guarantee from Saleen that the work would be done and the instrument cluster shipped back he would not pull the cluster and ship it. Oh, and the dealer or I would have to pay for the shipping. Same thing on the labor. No reimbursement from Saleen even though it was a factory recall.

Apparently the dealer is receiving a steady stream of Racecraft literature for 2009 and 2010 vehicles, including Saleen vehicles, even though they only deal in Racecraft. The service manager found that Saleen is still putting out cars, but only the parts and service end is in bankruptcy proceedings. Nice. How can they expect a dealer to sell a vehicle they cannot warranty?
  #33  
Old 03-06-2009
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Quote:
Originally Posted by meangrn304 View Post
Two days ago I took my PJ to my local Ford Dealer, who sells Racecraft vehicles. I knew there might be a problem, even though I called Saleen and was assured that the watts linkage and speedo would be covered.

The service manager told me today that after speaking with Saleen, Saleen was shipping him the parts to fix the watts linkage but that to receive reimbursement for the dealer's labor he was told he would have to contact the company's (Saleen) lawyer to discuss that.

The service manager was also told that Saleen would recalibrate my speedo as per the recall, but since he could not receive any guarantee from Saleen that the work would be done and the instrument cluster shipped back he would not pull the cluster and ship it. Oh, and the dealer or I would have to pay for the shipping. Same thing on the labor. No reimbursement from Saleen even though it was a factory recall.

Apparently the dealer is receiving a steady stream of Racecraft literature for 2009 and 2010 vehicles, including Saleen vehicles, even though they only deal in Racecraft. The service manager found that Saleen is still putting out cars, but only the parts and service end is in bankruptcy proceedings. Nice. How can they expect a dealer to sell a vehicle they cannot warranty?

Reading stories like this make my stomach turn...or maybe it was the mexican I ate last night. Either way, I cannot believe that Saleen Inc. would do this. Well, I guess I can believe it after reading about everything else going on with Saleen. I am anxious to see what the official press release says.
  #34  
Old 03-06-2009
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As I said before and will say it again we all no that the writing was on the wall. Well atleast I did.............
  #35  
Old 03-06-2009
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Though the pending announcement came from MJ Acquisitions instead of Saleen, this thread will be closed and continued with a SOEC-exclusive story here: http://saleenforums.soec.org/showthread.php?t=4720
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