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Thank god you got out of there Mike! I hate Sam, so you going to start your own thing...maybe go back to "mud hole state" Washington?
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Speechless...
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Mike - since you are giving the inside scoop.. Can you talk about the CARB certification fiasco? :)
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Carry on, this one time... :tiphat: |
Hope you guys learned your lesson...
Boost is the devil! Just saying |
Does anybody know where Sam is right now? Hopefully not sipping a pina colada in central America somewhere...
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Also with people wanting to be the fasted out!
What's stopping Sam forming forking a good pitch to a young oil prince and backing his company!?! A possible rename/revamp for the new chassis z35/r35 revisions/new Qs |
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For starters, CARB is a real challenge. Back when I worked for the State of Washington, I reviewed Energy Life Cycle Cost Analyses submitted by contractors that were either building new state facilities or upgrading existing ones. There were a lot of hoops the contractors had to jump through to even get approval to do the project. Often, we would ask them to analyse other alternative methods or review their calculations and assumptions with more scrutiny. Basically, what I'm saying here is that environmentally conscious state agencies will put you through the ringer and make you jump through a lot of hoops which costs money. Especially if they've never worked with you before. But that's only part of it. The other part is that Sam only kinda wanted to get it done. It sat on the back burner for years and every now and then he'd give it another shot. He just wasn't that motivated to overcome any obstacles CARB put in his path. In his mind, the kits were selling well enough without it. Sure, it would have increased sales a bit, but as any business owner can tell you: is the additional cost/risk worth the potential reward/profit? I don't know if he ever actually sat down and crunched the numbers to make a determination or not (although I highly doubt it), but one thing is for sure, there are a lot of people that don't know the rules and regulations for their particular state and automatically assume that CARB approval unequivocally translates to street legal. For most states, CARB is irrelevant but having CARB approval would certainly translate to a lot more sales overall because it is the gold star standard that people recognize. I don't think Sam quite recognized its importance otherwise it would have been done years ago. |
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Hey everyone,
For those of you concerned with the White Dragon build I want to say thank you! I also want to say thank you for everyone who has shown me and the project support. As you all know my car is still at GTM and still under the knife. There have been several changes to the original build and I believe we are at te end of this chapter of the project. I have spoken with Sam and stated my desire for the car to be put back together with the new parts and for a base tune to be applied so the car can receive its final tune here locally at our elevation and on our local gas. With that being said I have discussed this with Sam and have made plans to travel out to California to meet with Sam and the tech working on the car. I will be traveling out onsite to GTM on 10/3/14 to assess the build and it's finished work. I will be staying on site until 10/5/14 with the hopes of leaving with the car on a truck completed and on its way home. While I am out there I will be sending home a bunch of parts that never got the opportunity to be installed on the car. The goal of this project was always to see what we can do with this platform. If anyone has any questions or would like to talk feel free to reach out to me. Again, I will be at GTM on 10/3/14 thru 10/5/14. With hopes of having the car finished for ZNationals! I wanted to surprise everyone but hey if I can pull this off Jon@Z1 would you mind staying late one night with me for a tuning session? I will bring marshmallows and we can roast them over the exhaust together... ;) Thanks again everyone for the support! *fingers crossed* |
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:ohsnap1:
Im not a fan of drama but boy was this a great read! GL to you Mike. |
Hey all,
I just spent some time at work reading through these last few pages, and man, what a trip. As some of you may know, I was one of the first people to lay down money for the kit, and I've been in a constant struggle trying to get my money back, as well as contact them for information. I even visited their facility personally to see what was going on. Just a little quick update on where I am at - I currently have a court summons and date by the California Court for a small claims lawsuit. I have asked for exactly what I paid for, and I have a set court date. I have all of my previous invoices, contact records, phone calls, and emails. I hoped it had not come to this, but Sam and GTM will be held responsible. I guess I can keep you all posted on that end of things, when I fly out to California soon for the court date. 28 pages is a crapton of info to sift through without anyone at work noticing, haha. :bowrofl: |
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From the US Code - Section 523 - Exemptions to Discharge (in terms of bankruptcy): (a) A discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual debtor from any debt.....(2) for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by - (A) false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor's or an insider's financial condition. I'm going to be speaking to a friend of mine who is an attorney to get more information, but I believe I have a case. Also, I am unsure of how that bankruptcy filing worked out - they filed under a different name. |
What are you thinking.
Someone needs to get a hold of you and shake you for about 10 minutes. Quote:
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The only creditors that will get any satisfaction out of this is they ones that leased him equipment. They will get their equipment back. They still will need to eat the lost lease payments, transportation, and reconditioning. |
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Unless there are hard assets you can repo, I'm afraid you may be left holding a judgement in your favor and a pocketful of nothing. There's no doubt in my mind that there are no assets to go after. Man, I hope I'm wrong and you get made whole, but I'm afraid you're about to find out how broke Sam is. |
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Once you get a judgment against him, it doesn't just magically go away. If he tries to found a new business and start over again, you can wait and go back after him for the amount of the original judgment plus interest :) |
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I love forum legal advice, ery'one be talkin out they a55, it's filled under 11 not 7 or 13, so most of what everyone has so far said does not apply, it is not straight liquidation it is for a company to work through a court to satisfy their creditors over the course of a few years to be able to maintain an operable business, if it gets rolled into a 7 then it would be liquidated but usually they would just make the payments to repay a certain decided upon percentage of debt and then would be released from the remainder and could continue operating. Don't take my word for it though or the word of any of the other amateur financial and legal counselors on here go get real advise if you need it.
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So GTM is officially bankrupt?
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Bankrupt does not mean out of business. |
bankruptcy has turned into something some businesses will do to shuffle some paperwork around and bring the profit margin back up, usually the ones who get hurt the most under a chapter 11 are suppliers and companies who have leased equipment because they can no longer take that equipment back until an agreement is reached and in which case they may end up not taking it back and cutting there losses for semi repayment, but again I can't tell you for sure I don't make a living dealing with it, like the people you should pay to talk to about it if it concerns you. Always seek legal and financial advise before making any serious decisions that are not cut and dry.
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Hi. I am not a lawyer nor did I stay at a Holiday Inn Express last night. But I do have a keyboard connected to the internet :stirthepot:
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I am currently in contact with a lawyer, and I'm gonna post when I get definitive information on everything. But regardless, my court date is set for November, so I will definitely be attending that.
The California court also sent a certified mail court-summons, which requires Sam to attend this hearing by law. Failure to attend, I'd imagine, would not be good. I made sure I went through the right methods as well before I made this a legal issue. *Off topic, but a few people asked me about my custom master cylinder, and how it's holding up. It's rock solid as the day I installed it. :D |
He doesn't have to appear, nor do I think he will! Court dates are great and all! He can have a representative or reschedule or as for a extension thingy forgot what's it called!
Sadly all a joke! I think I mentioned it back a while but what's stopping him from getting a few loan from happy buyers overseas! I'm sure a few princes that have some spare change |
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C'mon Sam...Speak out. I know your lurking you snake.
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Uh...does he even have forum access anymore? I'd be shocked if he weren't IP banned by now.
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Imo he should be banned. People are discussing legal actions against him etc in this thread (maybe not the smartest thing to do but w/e). Why should he have the privilege of spying on the people he f'ed over?
Sent from my iPhone using Tapatalk |
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You can ban them from a forum just fine.
Sent from my iPhone using Tapatalk |
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