submax
10-09-2015, 02:33 AM
The following was posted by Bruce Belfer on BadWeB today. You can find the whole discussion with a additional responses by Bruce here: http://www.badweatherbikers.com/buell/messages/253912/768159.html?1444367731. Didn't see it anywhere on BuellXB yet...sorry if it's a duplicate.
Rather than keep everyone guessing, here's the straight skinny:
It has been 8 weeks since the AMG acquired the assets of EBR. Although full operations are not yet underway, there has been a great deal of activity behind the scenes.
As you may or may not be aware, the Receiver entered into a settlement with HERO just prior to the court date. Although in the long run this is a good thing, in the short run it has caused some delays. At the 11th hour, the HERO settlement excluded some assets that were previously included in the bid, and then the company's assets were relocated between buildings in a less-than-organized fashion, making a proper inventory assessment more complex, and postponing the financing package while it was being sorted out. This literally forced us to re-approve the entire finance picture, re-doing in 8 weeks what had taken 4 months to complete. Essentially, we are still awaiting the final closing, and working with the receiver to get it done. No one is more eager to get going than we are, but there is only one way, the right way, to do so, so that is what is under way. While we are busy finishing up with HERO, the following have also been accomplished:
-Incorporated in Wisconsin (Docs filed, tax ID, employer ID, etc.
-Set up local bank accounts
-Set up employee files
-Set up payroll account
-Ordered payroll checks
-Set up insurance
-Restart the website
-Fix the phones
-Established shipping accounts with freight carriers
-Re-validated the inventory
-Re-approved the finance package
-Set up revised preliminary operating budgets based on actual inventories
-Refreshed all financial due diligence.
Throughout this period, the core team at EBR is at work and getting paid by AMG. Now that there is an incorporated business in Wisconsin with which to begin doing business, next up are:
-Employee re-hiring and placement
-Dealer contact and management
-Vendor contact and management
-Customer contact and management
-Race team contact and management
-Floor plan contact and management
-Social media/Forum/Web management and updates
-Warranty related issues
-Parts, accessories and merchandise availability and fulfillment
-Open order assessment and fulfillment
-Restart of production line
-New product development
Rest assured that EBR has my undivided attention. We know what the dealers want. We know what the owners want. We know what the market wants. We are busting our humps to make sure we can give it to you.
Never said it would be easy...never said it would be pretty...but it's getting done.
Thanks for your patience.
Bruce
Rather than keep everyone guessing, here's the straight skinny:
It has been 8 weeks since the AMG acquired the assets of EBR. Although full operations are not yet underway, there has been a great deal of activity behind the scenes.
As you may or may not be aware, the Receiver entered into a settlement with HERO just prior to the court date. Although in the long run this is a good thing, in the short run it has caused some delays. At the 11th hour, the HERO settlement excluded some assets that were previously included in the bid, and then the company's assets were relocated between buildings in a less-than-organized fashion, making a proper inventory assessment more complex, and postponing the financing package while it was being sorted out. This literally forced us to re-approve the entire finance picture, re-doing in 8 weeks what had taken 4 months to complete. Essentially, we are still awaiting the final closing, and working with the receiver to get it done. No one is more eager to get going than we are, but there is only one way, the right way, to do so, so that is what is under way. While we are busy finishing up with HERO, the following have also been accomplished:
-Incorporated in Wisconsin (Docs filed, tax ID, employer ID, etc.
-Set up local bank accounts
-Set up employee files
-Set up payroll account
-Ordered payroll checks
-Set up insurance
-Restart the website
-Fix the phones
-Established shipping accounts with freight carriers
-Re-validated the inventory
-Re-approved the finance package
-Set up revised preliminary operating budgets based on actual inventories
-Refreshed all financial due diligence.
Throughout this period, the core team at EBR is at work and getting paid by AMG. Now that there is an incorporated business in Wisconsin with which to begin doing business, next up are:
-Employee re-hiring and placement
-Dealer contact and management
-Vendor contact and management
-Customer contact and management
-Race team contact and management
-Floor plan contact and management
-Social media/Forum/Web management and updates
-Warranty related issues
-Parts, accessories and merchandise availability and fulfillment
-Open order assessment and fulfillment
-Restart of production line
-New product development
Rest assured that EBR has my undivided attention. We know what the dealers want. We know what the owners want. We know what the market wants. We are busting our humps to make sure we can give it to you.
Never said it would be easy...never said it would be pretty...but it's getting done.
Thanks for your patience.
Bruce