SALEEN in major financial trouble ... again.

[Not4you]

Once again, Steve Saleen is sliding quickly into the hole. $5,000,000 owing and $7,500 in cash is not a good way to report the books to the public. Maybe going public wasn't the best idea. Not only do they now need full transparency with their financials, but the stock is only $0.02 per share.

I like to give my 2 cents on some topics ... funny that that is all Saleen is worth too. lol

Full article:
http://jalopnik.com/mustang-tuner-saleen-says-it-owes-millions-of-dollars-1661373045

[ZR]

What a flippin mess.

[svo1990mustang]

yikes!!!

[Uncle Buck]

Darn shame

A cool product under poor management

[Tailites]

could be a scam...go into receivership...

Saleens silent partner buys it back for pennies on the dollar

name change etc...reopens

happens...seen it before

[Slope]

https://sp.yimg.com/ib/th?id=HN.608040302879442574&pid=15.1&P=0

[cobracars]

I guess poor management.

Sent from my Z10 using Tapatalk 2

[Burns]

I might go ahead and buy the stock and recommend they sign a deal with discovery or TLC or similar, sell off the hidden gems out back on eBay, Steve can put his money where his mouth is and drop $1M to keep the wolves happy until the company can put the first lot of new models on the streets.

That's assuming he has a $mil to drop. He spent a lot of coin on legal fees getting the company back.

[Laffs]

I'll just drop my response from every other place this is posted here

I thought that's just what auto companies did these days?

Demand for the product is there, looking at there 10Q Customer deposits increased to 913,845 from 193,912, sucks for those people who put down the deposits though....

Also I guess we can speculate pretty easily at what the Director, Chairman and CEO of Saleen makes....

Anyhow I'm saying T-minus 10 to Chapter 11, Title 11...

[abeltrame]

I have little to no respect for the guy. Heard a bunch of horror stories regarding his business practices over the years but I digress.

On a side note: Loved his cars up until the S197 (no offense).

[saleenman]

https://sp.yimg.com/ib/th?id=HN.608040302879442574&pid=15.1&P=0

I know who has a couple of those. For sale too.

I have heard some really awful stories about Steve Saleen lately.

[Slope]

I know who has a couple of those. For sale too.

To say that I haven't looked would be a lie.

[MrTinkertrain]

could be a scam...go into receivership...

Saleens silent partner buys it back for pennies on the dollar

name change etc...reopens

happens...seen it before

Seen this lots of times also. TEXTBOOK scam

[Saleen12c]

yup it's a mess. and unfortunate. such a crowded market. to much to compete with on so many levels.

[TurboFox]

I guess wheels and body kits can only get a company so far.....

[Not4you]

I guess wheels and body kits can only get a company so far.....

in the 80s, hell yes. now - not a chance.

its too bad, he has a hot daughter that needs his money for partying.

[TurboFox]

its too bad, he has a hot daughter that needs his money for partying.

Maybe ill have to step in

[Stephen06GT]

..too bad, he has a hot daughter that needs his money for partying.

Pics??

[Not4you]

http://luxvelocity.typepad.com/.a/6a00d834515a6e69e2017744797495970d-320wi

http://blog.chron.com/heidispics/files/2013/07/Molly-Saleen.jpg

https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-xpf1/v/t1.0-9/1743575_790621657661046_641631768792599332_n.jpg?o h=32bbe23edeb5e3ec4e5b629f6936e29f&oe=551BD94B&__gda__=1423343783_4cbb42680d7b237b60dffec9c525ed6 c

https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-xpf1/v/t1.0-9/10015638_775897205800158_8562831555230879769_n.jpg ?oh=eee8694ce82c0fb4a5032fa3f7afab27&oe=551A2746&__gda__=1427968300_ecc0af81b6b8dbde38a498d2aad4a2a c

https://scontent-a.xx.fbcdn.net/hphotos-xpf1/v/l/t1.0-9/10432960_725462754176937_2181172550725572816_n.jpg ?oh=a987da3303f0b563f4f7c93ecd2a5b8e&oe=54D8E7CD

[Blackmare]

Good ole Molly. Hear she's quite the partier.

[TheMustangShow]

Who cares?

Saleen jumped the shark in 2009.

Feel sorry for all the investors that will be burned though.

[saleenman]

To say that I haven't looked would be a lie.

LOL. They are sweet!

[Not4you]

Here's an interesting follow up to the release of the latest Saleen (730hp for $73,000) and the release of the financial records a while back (posted at the beginning of this thread).

As much as I love the Saleen brand, this is another Fail on their part. In summary - don't fuck with Jaloponik ...

http://jalopnik.com/this-tuned-mustang-made-me-realize-the-value-of-journa-1693235525

[jibbijib]

Car is sexy as fuck.

The people running the show? Failure.

[Tailites]

sad...seems Saleens a has been...

still love his cars tho

[OldSchool]

S351sc is on my bucket list

[Not4you]

I got to drive one a couple of years ago. scared the crap out of me.

[Mustang4]

This makes it seem like Saleen is viable still or has found backers.

http://www.stangtv.com/features/car-features/730-hp-saleen-black-label-is-the-highest-powered-production-pony/

[Darkhorse]

This makes it seem like Saleen is viable still or has found backers.

http://www.stangtv.com/features/car-features/730-hp-saleen-black-label-is-the-highest-powered-production-pony/

Donald Trump has been on the brink of collapse and bankruptcy many many times. Certain companies live on the edge, but if the business model is right, they will survive. If the business model is wrong, it will eventually fail. Many good company's fail only because they can't manage cash flow. Many are often bought out at the 11th hour.