Replies to post #2785 on Saleen Automotive, Inc. (fka SLNN)

[AutoInvestor]

I will provide the proof, but you need to answer
the question that I can ask now that I know you have read the 10K is,
Why would you or anyone else chose this company to INVEST in ?

[AutoInvestor]

My opinions regarding Saleen and Steve are from experience.
I will not provide links to support my opinions because the knowledge I have from my experience is more accurate than any links which come from less reliable sources (Wikipedia).
I am not thinking of Rich Rinke or Joe Torre . Steve was fired as I stated in my previous post and I sited enough of the reasons(which you will not find on any links ) for you to believe what I know to be a fact.

The $35M is the sum of the multiple debt offerings HPA had to raise during their ownership of Saleen during and shortly after Steve's dismissal. You will not find that on any links because Saleen was privately held by HPA and they would not disclose that publicly. The $35M is not the sum of the total loss.
HPA had to put up the 1st $7M or 8M to satisfy the bankruptcy court and resolve some of the unpaid debt that creditors were trying to get back from Steve. The loss was more like $43M.

As far as Saleen's relationship with Ford goes it's over .
Invitations from the Marketing Group at Ford means nothing.
Saleen use to be an extension of Ford, meaning that over time they shared the Engineering
and provided access to cars, dealerships , trade shows , etc..
Saleen's business plan was soundly built to Tune as many as 2,500 mustangs per year and distribute them to 250 Ford dealerships in North America . Ford had over 4,000 dealerships so the future looked bright.
So, all Saleen had to do was Tune Mustangs , deliver on time and limit the number of warranty claims and they could have been a $500M company.
Keep Ford happy and you could modify and sell thousands of Mustangs .
That is the business plan HPA bought.
Two years into the plan and Steve had other ideas.
Racing... Screw Ford, Screw HPA, Screw the employees , vendors , customers, take the money and go play with race cars in Europe rather than sticking to the business plan .
Saleen missed delivery's to the. dealerships in 2006 pissed off Ford customers who were waiting for their Saleen Mustangs. Pissed off the Ford Dealerships. Pissed off Ford Management.
Then the Focus recall ...... Then the Ford GT replacement.... Then...much later he
added Chevy, Dodge, Chrysler and any loyalty with Ford was done .
Not like Shelby who stayed loyal...Steve is done at Ford and without Ford , Saleen is done.
These comments are my opinion . Invest based on your own research and conclusions .