Calling FFR. Are you guys buying SAI?

REAL 1 · #1 (**permalink**) 05-21-2003, 01:56 PM

Dear FFR:

Please advise as to whether or not these rumors swirling around are true about FFR buying SAI.

Thank you.

casaleenie · #2 (**permalink**) 05-21-2003, 02:07 PM

F of E..... (Friends of Evan)

Possibly need to do an intervention or a suicide watch for Evan.
He appears to be taking the pending purchase of SAI by FFR a little too hard...
Maybe one of you can "talk him down" a bit.....

Concerned.....

Chaplin · #3 (**permalink**) 05-21-2003, 02:13 PM

Has anyone seen a deer recently?

(Sorry, couldn't resist, now back on topic)

REAL 1 · #4 (**permalink**) 05-21-2003, 02:31 PM

No suicide watch for me. Personally, I think all you guys are getting your chains jerked by someone.

I'm just asking the people who would know for sure. Time to put an end to all this "rumor" nonsense.

The reputed sellers have denied any such deal.

What do the buyers have to say???

Chaplin: Yeah. I saw a deer last night. A whole bunch of 'em.

Super-Snake · #5 (**permalink**) 05-21-2003, 03:18 PM

And they are just waiting on the sidelines to answer YOUR questions.

REAL 1 · #6 (**permalink**) 05-21-2003, 05:14 PM

Why wouldn't FFR answer the question. Its not just my question. It seems to be "THE" question.

They have posted here before. Other manufacturers post here all the time.

SAI wasn't afraid to say immediately here that it WAS NOT true.

Well, whats FFR afraid of. Its either true or it isn't. Others have said one of the Smith brothers made statements to the effect that they were buying SAI. Then others here "who claim to have heard it from reliable sources" said its a "done deal".

Well if its a done deal, whats the secret. The entire Cobra community appears aware of this "alleged purchase".

Laugh all you want. So far the only thing thats comical is all those buying into the "rumor" "hook, line and sinker".

Not asking for the details of the transaction. Just a simple "yes or no" will do.

ToyCollector · #7 (**permalink**) 05-21-2003, 06:01 PM

Evan,

Well, IF, and I do mean a BIG FAT IF, it is happening, or close to done, I am sure FFR and the officers have a gag order until it can be announced!! Personally, I would view it as the dumbest acquisition of 2003 so far unless it was for a REALLY cheap price.

ToyCollector · #8 (**permalink**) 05-21-2003, 06:03 PM

Why doesn't someone ask Corporate Communications at Venture!!! If they do not deny it, then you'd know something. You would probably get the old, "As policy, we do not comment on or confirm or unconfirm rumors".
[edited to change Vulcan to Venture]

REAL 1 · #9 (**permalink**) 05-21-2003, 06:08 PM

Who knows.

Just thought I would ask FFR to tell us yes or no. Manufacturers routinely post here and respond to questions.

SAI had no problem making it clear that there was no sale. I guess any order didn't apply to SAI also then. If they can't comment let them say they can't comment. No problem.

Until we hear it right from FFR or some official announcement its nothing more than a unsubstantiated rumor.

I like both cars and both companies have a place in the market IMHO and benefit the market. I think both companies offer a great product and are great companies.

I would like them to put the "rumor" to bed for us so to speak. We already heard from Shelby.

I figured why not ask. Right?

Excaliber · #10 (**permalink**) 05-21-2003, 07:08 PM

It's a good and valid question!

If it happens and I am left without an SAI car before the prices shoot through the roof I'm going to be kicking myself for a missed investment opportunity!

Ernie

ToyCollector · #11 (**permalink**) 05-21-2003, 07:16 PM

You heard from SAI, you did not hear from Venture. Evan, as one who followed the posts probably better than I, you will remember comments that the parent of SAI (Venture) may have majority interest, so they could sell and no one may know about it at SAI. Good old proxy fight issue. That's why, while you are trying to kill the rumor, someone should go ask Venture. There are 3 pieces to the puzzle, Venture as the bankrupt parent who WANTS to look for liquidity, a subset of Venture (SAI), and FFR. Follow the money.

Menace · #12 (**permalink**) 05-21-2003, 07:20 PM

The question needs to be asked of Venture not SAI. FFR is not likely to respond I dont think the management at SAI has much say on any of this. Mr Marsh's and the rest of managements days are numbered regardless of who buys what or they close the door

Lets see the financial health of SAI ..failed multimillion dollar lawsuits with FFR and Superperformance(pending) a failing series 1 project and a limited high end market poor U.S. economic health in general cant be good boys

Excaliber · #13 (**permalink**) 05-21-2003, 07:21 PM

Right on target ToyCollector.

And how come people keep saying stuff about SAI loosing money, filing for chapter XX. SAI will be impacted by Ventures holdings over all, but that don't mean SAI is or isn't making money on it's own.

If it gets bad enough I guess a JUDGE could ORDER Venture to sell it's "share" of SAI to who ever! I bet Ford and\or Shelby will still control the name COBRA, so what the heck do "they" think there buying in the first place????

Ernie

Specialk · #14 (**permalink**) 05-21-2003, 08:06 PM

Evan,

It is not true. Trust me on this one.

REAL 1 · #15 (**permalink**) 05-21-2003, 08:35 PM

Kris: I'm with you.

Until some official announcement is made by FFR or someone from FFR actually confirms it all this is is an unsubstantiated rumor which has been repeatedly denied by SAI personnel here on this site. They may not be "Venture" employees but I would bet they know more than we do.

FFR isn't owned by another Corp. Why don't the Smiths just confirm or deny or at least say they can't comment??? Why not??? Haven't some said its a "done deal" If so, lets hear it.

Its an issue of interest to people.

ToyCollector: You mentioned "Venture as the bankrupt parent". I don't think your statement is accurate. What chapter did they file for?

As far as I understand SAI has been selling alot of Cobras. I understand HRE is very busy with new cars. Doesn't sound like a there is a problem selling Cobras to me.

So far all we have is "rumor" backed by hearsay after hearsay after hearsay after hearsay which has been repeatedly denied by people at SAI .

ToyCollector · #16 (**permalink**) 05-21-2003, 09:19 PM

Quote:

Originally posted by REAL 1

ToyCollector: You mentioned "Venture as the bankrupt parent". I don't think your statement is accurate. What chapter did they file for?

As far as I understand SAI has been selling alot of Cobras. So far all we have is "rumor" backed by hearsay after hearsay after hearsay after hearsay which has been repeatedly denied by people at SAI .

First off, I want to kill the hearsay as quick as you. This board is quickly becoming an embarrassment to itself, and therefore us as participants. Point 1, if Venture is not in Chapter 11/7/pick an number, then they are close from what I have seen. It actually makes the case to liquidate stronger, because they do not have court protection, for now. And it would mean they may want to avoid the court process of formal liquidation/protection. I am guessing at their motives as I do not have a balance sheet in front of me, but if that is their financial standing, it would not help kill these rumors, actually make the situation stronger for "cash to tide them over"

Secondly, what is a lot of Cobra sales to SAI? Two a month, 5, ten? I do not know of many folks on ClubCobra that have recently bought a car. WE ALL KNOW the visible ones such as yourself, TURK, DAN Semko, etc, but I certainly haven't seen 10 folks trumpet the fact they bought a CSX car in the last 60 days.

Maybe I missed those posts

Or I need to find the Series 1 forum

ToyCollector · #17 (**permalink**) 05-21-2003, 09:50 PM

Sorry, this post may end up "hijacking" this thread, a 1st for me.

<http://www.shelbyamerican.com>

I hit Shelby's website for giggles to see if there were any recent announcements. Anyway, I "went shopping". Nice shirts for $60!!

For hats, I was ready to share my credit card info for a real Shelby Texan hat....for some reason, the made in China baseball cap didn't get me to click the buy now button. So...always the deal snooper, I saw the clearance tab...figured I could pick up a Series 1 on the cheap.....no such luck. More clothes!!!

So Evan, you are right. FFR isn't buying them, it's Liz Claiborne!!

ToyCollector · #18 (**permalink**) 05-21-2003, 09:58 PM

If I buy a die cast Shelby from SAI, is it real? Especially the $200 GT-350 80th birthday edition? How do I tell it is a genuine 80th birthday edition car? Is there a registry? What if I display it next to a non-80th birthday identical car, what do I say??

Help!!!

https://ss.shelbyamerican.com/newsto...p=multi&page=1

Turk · #19 (**permalink**) 05-21-2003, 11:57 PM

If Evan, Turk and Dan Semko were their only customers, they WOULD go broke.

Actually having been interested in their product for over three years, I have paid a fair amount of attention to their production numbers.

Recently a friend of mine wanted to buy 2 CSX cars (and did) , the time it took to deliver them due to orders ahead of him and the ones behind him gave me an idea how brisk the sales are.

It is true we only know of a few in here.. However many of their owners do not spend their free time on this or ny other Cobra site. They are just Cobra owners.

Hard to tell from here that they are only selling very few.
If they were, no one would want to buy the company,

TURK

Dan Stryffeler · #20 (**permalink**) 05-22-2003, 05:57 AM

Venture Holdings Company LLC Files Chapter 11 Bankruptcy
Saturday March 29, 5:40 pm ET

FRASER, Mich., March 29 /PRNewswire/ -- Venture Holdings Company, LLC, the worldwide manufacturer and supplier of automotive components and systems, filed a petition for Chapter 11 reorganization yesterday in the United States Bankruptcy Court, Eastern District of Michigan.

- Dan