Hurricane Motorsports Update - Page 5

fsstnotch · #81 (**permalink**) 04-09-2008, 06:22 PM

in this situation No news is Bad news.

Just be glad they quit taking orders and didn't make any attempt to promise things that they could not produce! There have been plenty of others who weren't so lucky.

SP01715 · #82 (**permalink**) 04-09-2008, 06:31 PM

Quote:

Originally Posted by madmaxx

I have said it before, guys or girls buying 50K plus cobras are most likely recession proof.

I don't know about that. I know people that were buying 400k performance boats with down payments of 100-200k from equity in their homes that can't afford them. Buying a 50k car is nothing compared to the crap the house rich people (that now can't afford these houses) were buying.

...And now the government wants to bail these idiots out????

fsstnotch · #83 (**permalink**) 04-09-2008, 06:37 PM

Quote:

Originally Posted by SP01715

I don't know about that. I know people that were buying 400k performance boats with down payments of 100-200k from equity in their homes that can't afford them. Buying a 50k car is nothing compared to the crap the house rich people (that now can't afford these houses) were buying.

...And now the government wants to bail these idiots out????

Kinda like when you apply for a loan... for say 10k and the bank responds with, "you're approved for 60k!" haha happened to me recently! People DO need to be held accountable. But they should also not be mislead into believing they can afford somehting that they clearly can not!

madmaxx · #84 (**permalink**) 04-09-2008, 07:19 PM

spo1715,

Wow, I guess I have led a sheltered life. That almost sounds criminal. I am amazed anyone would loan money on a Cobra.

Tallguy · #85 (**permalink**) 04-09-2008, 09:59 PM

Quote:

Originally Posted by madmaxx

spo1715,

Wow, I guess I have led a sheltered life. That almost sounds criminal. I am amazed anyone would loan money on a Cobra.

It's easy. House values go up, you refinance, pull out all of the equity, buy whatever you want, like a Cobra, or a trip around the word, plastic surgery, or some people even put it back into their house for remodels and upgrades (what a concept

).

Then in another year, you repeat, and when the mortgage gets a little tight, do it again to make your payments...

Then something happens.....

.......the market dips (or crashes depending on your view), your interest rate resets, can't make the payment, and you get foreclosed and lose it all......or get bailed out

Save the Hurricane!

purple panther · #86 (**permalink**) 04-10-2008, 03:13 AM

all those people were getting home equity loans. Guess what you have to give a pint of blood to get one of those now. you ask for 25000 and the bank said if you want you qualify for fifty. They were handing out money like candy. OOO brother can you bail me out. lol

madmaxx · #87 (**permalink**) 04-10-2008, 07:10 AM

The problem where I live (Houston) is the housing market never took off. In fact it has been flat (3% annual growth) for 90% of the area for 15 years. The good news is you can get a 4000 ft^2 house with 3 car detached garage in gated community for 350K, if you would like a pool and private golf course and another 1000ft^2 make it 500K. If you need an all brick one story with 2400 ft^2 and two car garage in nice sub right around 180K.

I never had a house payment to begin with.

madmaxx · #88 (**permalink**) 04-10-2008, 07:14 AM

Houston just has not been affected by the recent downturn in the credit industry and jobs are plentiful. Between oil, petrochemical, NASA and plastic surgery (breast implants originated in houston) LOL work is always there which translates into demand for works which translates into very good pay. Now it is flat, hot, muggy and ugly but if you want to make money with cheap housing I do not think you can beat it.

SP01715 · #89 (**permalink**) 04-10-2008, 11:40 AM

Quote:

Originally Posted by Tallguy

It's easy. House values go up, you refinance, pull out all of the equity, buy whatever you want, like a Cobra, or a trip around the word, plastic surgery, or some people even put it back into their house for remodels and upgrades (what a concept

).

Then in another year, you repeat, and when the mortgage gets a little tight, do it again to make your payments...

Then something happens.....

.......the market dips (or crashes depending on your view), your interest rate resets, can't make the payment, and you get foreclosed and lose it all......or get bailed out

Save the Hurricane!

...And the worst part is when these people take the cars, boats, plasmas etc... and walk from the house. These items are payed for (not really but legally) so depending on what state you live in they get to keep them. If you live in a one action state like California the bank takes the house back but is out the money they loaned on it. I don't feel sorry for the banks or the people that dug themselves this hole. The government needs to stay out of it and let the market correct itself. I know a lot of people that are in the real estate / mortgage indusrty, and there is so much fraud involved I can't believe the government does not go after these people with criminal charges. They should also go after the homeowners that were not truthful on the loan docs. The government continues to kill the dollar and this bailout will make it worse. I am buying gold!!!

Well, sorry for the rant. Back to the topic.

427sharpe · #90 (**permalink**) 04-10-2008, 12:17 PM

Buy Euros, baby; Euros. Bought when they were still about a dollar, now $1.57 and still climbing. Hard to find a renewable 57% return rate today. Especially one that is instantly liquid!

TXWOOD · #91 (**permalink**) 04-10-2008, 02:57 PM

If Hurricane is closing, why does their add still appear here on Club Cobra?

powerslide · #92 (**permalink**) 04-10-2008, 03:22 PM

The silence coming out of Lees Summit is almost deafening. Time is becoming their biggest enemy, and obviously breeding uncertainty. I think their customers and clients are owed an "explanation", especially if money is involved, and obligations to be fulfilled. For the rest of us...its probably none of our damn business!

Bill Bess · #93 (**permalink**) 04-14-2008, 02:52 PM

Hey...why not start a rumor.

Maybe Hurricane is going to be the new FFR complete kit package? Maybe Carrol Shelby is going to make it their "continuation car?" Maybe Ford motor Company is going to upgrade it to become the new Falcon convertible roadster?
Perhaps....it will be redeveloped into the new Camaro at Chevy.
or maybe it will be boughtout by Matel and sold as a bigboy toy.

Come on you guys.... lighten-up!

Bill

madmaxx · #94 (**permalink**) 04-14-2008, 03:23 PM

just wanted to be the 8000th one that viewed this thread

Doug I · #95 (**permalink**) 04-14-2008, 03:25 PM

I think you were 1 view shy ....

fsstnotch · #96 (**permalink**) 04-14-2008, 06:03 PM

It's ok Bill. calm down!

There wouldn't be any rumors if there wasn't total silence from the people who know the answer to the $15,990 question. I for one, would just assume that after 4+ months, hurricane is no more.....

Burgs · #97 (**permalink**) 04-14-2008, 06:36 PM

Quote:

Originally Posted by fsstnotch

It's ok Bill. calm down!

There wouldn't be any rumors if there wasn't total silence from the people who know the answer to the $15,990 question. I for one, would just assume that after 4+ months, hurricane is no more.....

It's simple,... the business is for sale! They ARE taking care of business, with the customers that purchased kits from them,... and for now, they are not taking any orders. Easy enough, right?

fsstnotch · #98 (**permalink**) 04-14-2008, 06:50 PM

Burgs... you are right that is easy enough. Now why can't they say that? I know they are taking care of their customers! I was one! My point is, unless it comes from the horses mouth.. it's just another rumor. Plain and simple! With the last update from hurricane being on Jan 25th, a week shy of 3 months ago, everyone can make their own assumptions.

As was stated earlier... it seems like a functioning business would be alot easier to sell than one that has no scheduled orders.

that's just my view from the outside looking in. I know there are others whom feel the same. And since the last update from someone at hurricane says they're "evaluating their business model," how does anyone outside the box know that the RUMOR that hurricane is for sale is real? It didn't come from the source. As did none of the other rumors.

Quote:

Originally Posted by RichBurroughs

Hurricane Motorsports Update

Just an update to help answer some of the questions raised recently and address some of the speculation going on (even though it is quite interesting

). We are currently in the process of evaluating our business and simultaneously catching up on some internal projects. Cars are still being built and shipped regularly during this time. We are working hard on revising our business model and product offerings for 2008. Parts of those considerations are that we are strongly considering not offering the Hurricane Roadster in a "kit" form any longer. This is the reason we are not taking kit orders currently. We are evaluating what the business looks like as a turnkey minus only operation. Sorry we don't have more concrete info to share at this point. Give us a couple of weeks and we should have a clear plan by then.

Thanks,
Rich

joey_hv · #99 (**permalink**) 04-14-2008, 06:52 PM

I vote that Burgs has the best avatar...

Burgs · #**100** (**permalink**) 04-14-2008, 07:11 PM

Your right. I had to go back to find that it was Bill that posted the for sale sign, not the good folks at HM. I guess they could start up again relatively easy if they don't find a buyer. They sure got off to a good start.

Quote:

Originally Posted by Bill Bess

"Cat out of the Bag" For Sale

Hurricanes Motorsports is in the process of being sold, per Rich.

They will entertain any offers from interested persons.

Sorry late news, but Hurricane should have posted this sooner.

Bill