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Saleen is a certified manufacture, not a tuner. All Saleen vehicles have been certified 50 States emissions legal for a long time.
Having the other companies follow the same rules can only help level the playing field. Saleen is way ahead of the other guys!
http://en.wikipedia.org/wiki/Saleen
Also don't forget that he isnt going to produce the Tesla at all or even get his hands on the base car. But we all know that he did and has.
You said they have built the features into any model yet... Well they have put the maxgrip on the mustang so yes they have put it on a model. The other 2 are specific to the Tesla.
What features are you speaking of exactly?
Base price of the p85 is $94,570 not $121,000
Really... This is how you figure the pricing structure?
He is making $$$... More then you are calculating in your post. One thing is the base car doesn't cost $121,000 so your numbers are way off.
Well he did a lot more then just what you stated.
That car has been reworked from front to back but I'm sure there will be a comeback on that point.
But Saleen wasn't going to produce the Tesla right? He isn't producing any cars according to a few correct? Just getting a paycheck that he has deferred and then forgave right? Ya, this is someone that is out to get you or anyone else for that matter. Someone that is working his butt off everyday of the week to then not get paid. But the rebuttle to that will be the expenses are too high, he is still getting paid I'm sure. But then don't forget he also lent the company money as well.
Some will not talk about those points because they are not negative points to talk about the company. Sure, there is debt but when you look at MOST companies they have debt… Lawsuits yes other companies have that too… Etc
Saleen is not the only company to have issues like this. So just because right now they have these things, doesn't mean they will forever.
Like I stated the other night, all these issues will be resolved in time.
That is a ridicules statement that he is going to feed off the stock. So now your saying he isn't in the market to sell cars, just sell stock? Now all of the sudden since Saleen has brought out the Tesla and in the future the 2015 Saleen Mustang which has proven some people wrong, now its him just trying to sell stock?
So, is he looking to raise capital? Absolutely. But to say that he is not in the market to just sell stock is crazy!
Now that is funny. I want to see them "restore the car back" as you say. That isn't going to happen.
Another thing is you don't know what they have done to the software as an example.
Now you know that there is NEVER a signed release form for any Mustang, Camaro or Challenger vehicle that goes in for service? NO manufacture for that matter does that.
Basically your telling me that if you decide to put different wheels on a factory built Tesla and a wheel bearing goes out, Tesla isn't going to cover the repair?
They would have to prove that the modifications that Saleen made to the vehicle caused the problem. They cannot just say, well they modified it so the warranty is void. This is how it has always worked on the Saleen Mustangs and also works on the Camaro and Challenger as well.
I have said it several times before, I am going to wait for something official to come from Saleen and Tesla regarding the warranty before making an opinion. I am sure it will all workout in the end just like it has with the 3 other models Saleen manufactures.
I know you said investment, that's what I said. He is making an investment not a trade. He is making a long term investment.
They cannot just void the warranty because they say they will. They would be opening a huge can of worms by even thinking of doing such a thing.
There has to be evidence that the modifications caused the issue with the vehicle. And if it is something that Saleen modified, then Saleen will warranty it. Just like Saleen has with Ford, Dodge and Chevrolet.
Like you said... An "Investment" so he is not looking to trade it today or tomorrow, he is looking long term.
If you would have bought into goog within a few weeks of the IPO you would have been losing a few weeks after that since it came back down to the IPO price.
So yes, stocks go up and down which is part of what you deal with on investments. Just because you bought in at the wrong time on slnn doesn't mean it won't come back and be a winner for you. Give it time and it will all work out.
Tesla should be happy to have another market for their product. Wait until they get electric vehicle racing established. With Saleen modifications, the Tesla could be ahead of all the others!
Saleen already has a distributor and is selling Saleen's in china. It's a great turn around to export built in USA vehicles to China. Saleen is way ahead of other USA Manufactures.
This type of forward thinking should pay off for Saleen. I expect that current money worries will be resolved. Some long term investors will likely see through all of the negative talk and see the bright future of Saleen.
Steve Saleen is committed to finding the path to SUCCESS. All investments are a risk and everyone needs to do their own Due Diligence before making any investment in ANY company. Real investors should see through these petty posts and see the REAL potential with Saleen. I believe 2015 will be a real year of growth for Saleen!
Once the infrastructure is in place, the value of SLNN should stabilize and then increase. I will continue to hold my shares and wait out the current low.
Regardless of the "inner workings" as you said, the law is the law here in the United States.
I don't know how Canada works regarding manufacture warranties since I live in the USA. But here in the USA, the link I posted regarding the Magnuson–Moss Warranty Act is a United States Federal Law and has nothing to do with Canada law. But I am guessing there is something very similar in Canada.
They would have to prove that the mods that were done to the vehicle is the cause of the needed repairs period! Just like if you put a cold air intake on your vehicle and something goes wrong with your motor... They can't just void the warranty because of that and either can Tesla!
They can type what they want to BUT if it doesn't have to do with the modifications done to the vehicle they have to honor the warranty.
Another link to read:
http://en.wikipedia.org/wiki/Magnuson-Moss_Warranty_Act
A link about how warranty's work and how it can be voided:
http://www.edmunds.com/auto-warranty/what-voids-your-vehicles-warranty.html
Seems to me the "will be hitting zero soon" has been said for weeks if not months. How is that working out?
You say the same month after month but they are still doing R&D, manufacturing vehicles and releasing new ones.
And now your saying they are giving stock for pay? What is going to be posted next??? Lol
Another thing is in almost 2 weeks no follow-up? If this was some major concern then there would be something to be said about this already based on the info you supposedly supplied your "contact"
Yes, I know they are pst and you are est... But the problem I have is how did you know what to email your "contact" at Tesla almost 3 hours in advance of getting the response from Saleen? Because your email was regarding the response you got from Saleen!
The time stamps are your local time, not there local time as they are based on the time zone your located in, not where they are sent.
What is interesting is the timestamps... Sent an email to the supposed Tesla contact at 6:09pm which I am going to say is est based on the location in Canada of Fred but he didn't receive a response from Saleen until 8:49pm the same day??? Seems to be an altered email or not actually from Tesla. . or maybe both.?.?
Lol.. From the August 2nd email... NOT from the 18th email lol. Email address from the 18th was BLACKED OUT. This is not proof at all... Nice try though!
That is proof that "someone" stated via email that is was ugly... Not that someone from Tesla stated that. No proof at all!
I could send you an email, say its ugly and you could block out my email address and could also say it was from Tesla. Very very easy to do.
Again, I will wait to hear from the sources directly, not from a third party biased opinion.
Lol... That was funny. The email address that the "ugly" email came from is completely blacked out but the other emails where not...???
If Tesla is denying everything then why block out email addresses? Seems to me someone is trying to hide something.
Again, I will continue to wait for an official press release from Tesla before believing anything for a biased source.
So is this the new way to tear down the stock when it has an up day?
No, that is all incorrect. I was at the troy plant several times which means I saw what they did at the plant with my own eyes.
The WHOLE Ford GT was built at the troy plant excluding the seats/interior, tranny and the engine. The completed car (minus what I stated) and was transported to a section of the wixom plant that was built for the GT. Once there UAW employees completed the car by installing the seats, fluids and also putting the window sticker on the car. It also went through testing like water test, closed course road test for rattles and such. That is how the GT was built from start to finish with a total production of 4038 units for 3 years but had planned 4500 units, not 7500. They where painted at Saleen Troy aka SSV not by ford. I was on a few tours of the whole plant (troy) and saw the paint booth (with GT's in it getting painted). I am also sure somewhere I have pictures of all of this but luckly they aren't locked up with HR.
As for HPA and BK that is kinda funny as thats also incorrect. I think I posted this before but I will post the short story this time.
Basically, HPA sold "some" assets for a sum of $2.3 million and within a few days the $$$ was transfered between a few different companies so then the original Saleen owned by HPA could file BK but the investors still got a bit of $$$ back. Now what is very interesting is they offered the same to Steve for nothing less then $10 million but ended up selling for $2.3 mil.
One more thing is that Saleen would have produced more vehicles with Ford BUT that is when the market went into the toilet and ford cancelled any new projects that would have been like the GT.
They were working on the s5s and would have produced it but the HPA investors didn't match what Steve vision was in which at that time Steve left.
Now, if all of this is Steve's problem then why didn't the vision that HPA have for the direction of the company work? Because again, they owned 94% of the company and could do what they wanted with or without Steve's blessing. If Steve would have been wrong then Saleen would have survived... Which it didn't, fell apart, sold some assets off for $2.3 mil and closed up shop. Again, all after Steve had left. Needless to say Steve made the best decision in leaving the company that he started so he didn't go down with them.
Ok, let me clear up on Saleen and the Ford gt project. First, you are completely incorrect in what you said.
The reason for the Troy plant was because the plant had to be located within 75 miles of the final assembly point in wixom. The reason for that is UAW and when you look at the window stick of a GT it says "final assembly point wixom" on it.
This is also the reason for the investment from HPA in the early 2000's.
The ford gt is a fantastic vehicle and you can thank Saleen and ford for building such a beautiful car.
So your saying there is buying happening BUT you haven't mentioned it till now? Hmmm...
Yes sms is saleen but he syill has to rebuild yhe Saleen brand from what they did to it... No way around it.
You don't know what he was or wasn't burning through as you say since they were not a public company. That is all opinion on your part.
He was on bloomberg TV on monday and sure it has fallen, but it can go up as well. And there is not just selling going on... There is also buying so really enough with the sell off stuff because it is not only being sold.
Nice looking car. But then again, Steve Saleen was the one that built the Ford GT for ford in troy, Mi so I don't think he really cars about the gtr1 lol
As SMS yes but as Saleen no not since 2009. You do realize how much time went by before he built over 1000 cars in one year right?
Latest Ford GT design? What are you talking about exactly?
They are not dumping cars as you say. This is only your opinion again which is not correct anyways. He didn't kill his relationship with Ford.. Again, this is your opinion and only an opinion.
The ones sold to Naples were sold to them and shipping paid by them except for the speedlab yellow one most likely since it was being displayed at the NY auto show.
Like I have said before... He is basically rebuilding the company and also his network of dealers. This doesn't happen overnight.
No, it was a Chevy dealership... Yes, it was a ford dealership. What else would it be? I said I had a Saleen Mustang which would mean I was at a ford dealership.
I disagree with your opinion.
I didn't say that. Its a site owned by you... A blog. Like I said, you have a biased opinion and that is why I will wait. Why are you trying to put out there own site on a investors forum anyways?
Honestly, having an email posted by a biased party like yourself... I will still wait to hear from a more reliable source thanks!