Well the story goes like this.
I purchase the assets of a struggling business “image” with the intent of turning the company around taking advantage of the talent of Don Borders.
The numbers that were shown to me at the time of negotiation were not accurate at all. I took the information and estimates as reliable as they were made by people who know about car building Etc.
To make a long story short, the 38,000.00 I was quoted needed as an influx of capital to finish the ongoing projects was short, it was short approximately 250,000.00
I was happy to step up and fund the needs and I was very exited as the shop was busy and looked very promising.
What happened next is what happens to most auto shops and that is that the estimated time to complete a project is never accurate due to many factors including human and other that are out of ones control like supply of goods.
Budgets were never achieved!!!
I got tired of spending and as soon as I reached my agreed upon cash limit, I decided to close the shop.
It’s a sad story, I went into this venture because I love cars , and wanted to have them, use them and build them.
Today I am still working on some of the left over’s some are in my garage completed, beautiful and being driven and others in shops all over San Diego getting worked on. They include a 1965 Shelby Cobra CSX 2000 series, one completed CSX 4000, a 1969 Mustang Fastback competed, 1966 Galaxie 5 litre body off and the body still off, couple of Ferraris, a 2007 Mustang Shelby with 850 hp YES TO THE WHEELS to name a few.
I wish it would have been different and there is nothing I would rather do that to work at a first class automotive outfit.
This is it folks, you live and you learn.
Next time I will buy finished cars and drive them, which was the reason this whole mess was started.
Don Borders, jacked me around and agreed to build a Cobra for me at no charge
HE NEVER DID
Greg Lanier was a victim of circumstances and just like I, spent a whole lot of money in legal fees.
My Father Leon Singer was drag into lawyers offices without any fault and didn’t mind at all.
Natan Adler is happy working in San Diego and in good health
I (Ricardo Singer) lost a good chunk of cash, about half a million dollars and feel lucky I had them to lose them.
I am happy and past the experience and doing what I do best which is working in my telecomm trade, enjoying my 2 young boys and wife and of course buying cars and driving them.
I am happy.
PS:
Thanks for asking.
