Re: Keith Black Racing Street Block
[Re: earthmover]
#2216796
12/19/16 02:26 AM
12/19/16 02:26 AM
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Joined: Aug 2006
Posts: 290 Cincinnati, Ohio
d7cook
enthusiast
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enthusiast
Joined: Aug 2006
Posts: 290
Cincinnati, Ohio
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No Dog in this fight but hopefully when he steps in they don't have a name change in some way shape or format..if so those that have paid sorry probably never get a block or money from the deal..I would love to have 1 for a new build going through the dreaded divorce process now but once done if they are available in a timely fashion I'll buy 1 if not ..on to the next bbc planing a glide install anyway.. Yes the thought has crossed my mind that if they reorganize by closing up and the opening anew then someone may be buying my block in January that I've been waiting two years for. The next time someone talks to Tim can they ask if he plans to deliver what's in the pipeline?
Last edited by d7cook; 12/19/16 02:47 AM.
1967 Coronet, 1989 Daytona tube chassis.
Former cars, 66 Charger, 67 R/T, 69 Coronet, 67 Dart GT.
-Banned for life from V8Buick.com-
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Re: Keith Black Racing Street Block
[Re: d7cook]
#2216800
12/19/16 02:39 AM
12/19/16 02:39 AM
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Joined: Feb 2005
Posts: 20,273 PA.
pittsburghracer
"Little"John
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"Little"John
Joined: Feb 2005
Posts: 20,273
PA.
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I don't think Tim would go into a deal like this and want to carry that bad baggage and BAD rep. A big business could handle it but it would bury a small business. I'm betting all orders will be filled or I for one would NEVER buy from that company. Would you???
1970 Duster Edelbrock headed 408 5.984@112.52 422 Indy headed small block 5.982@112.56 mph 9.38@138.67
Livin and lovin life one day at a time
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Re: Keith Black Racing Street Block
[Re: The Shadow]
#2216896
12/19/16 12:12 PM
12/19/16 12:12 PM
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Joined: Aug 2006
Posts: 290 Cincinnati, Ohio
d7cook
enthusiast
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enthusiast
Joined: Aug 2006
Posts: 290
Cincinnati, Ohio
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Tim says he will be honoring blocks owed. They cant be done first but will be filtered through with regular runs starting at the longest owed. So there will still be some waiting but they will come. Thanks for the info.
1967 Coronet, 1989 Daytona tube chassis.
Former cars, 66 Charger, 67 R/T, 69 Coronet, 67 Dart GT.
-Banned for life from V8Buick.com-
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Re: Keith Black Racing Street Block
[Re: dthemi]
#2217056
12/19/16 04:23 PM
12/19/16 04:23 PM
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Joined: Sep 2003
Posts: 2,175 Duloc
The Shadow
top fuel
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top fuel
Joined: Sep 2003
Posts: 2,175
Duloc
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Tim being willing to honor orders from the previous company is so far beyond normal ethics, I can't believe he's doing it. That action speaks volumes to credibility.
You'd be hard pressed to find somebody who stands more behind his word and product than Tim
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Re: Keith Black Racing Street Block
[Re: The Shadow]
#2217405
12/20/16 12:50 AM
12/20/16 12:50 AM
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Joined: Jan 2003
Posts: 15,439 Val-haul-ass... eventually
BradH
Taking time off to work on my car
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Taking time off to work on my car
Joined: Jan 2003
Posts: 15,439
Val-haul-ass... eventually
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Tim says he will be honoring blocks owed. They cant be done first but will be filtered through with regular runs starting at the longest owed. So there will still be some waiting but they will come. What ever happened to the FIFO (First In, First Out) approach to handling product delivery? This makes it sound like the new crew can't afford to deliver the old orders until they get cash coming in from new sales. That's not a good indicator of how well financed this new venture is, IMO.
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Re: Keith Black Racing Street Block
[Re: BradH]
#2217425
12/20/16 01:09 AM
12/20/16 01:09 AM
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Joined: Aug 2006
Posts: 290 Cincinnati, Ohio
d7cook
enthusiast
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enthusiast
Joined: Aug 2006
Posts: 290
Cincinnati, Ohio
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Tim says he will be honoring blocks owed. They cant be done first but will be filtered through with regular runs starting at the longest owed. So there will still be some waiting but they will come. What ever happened to the FIFO (First In, First Out) approach to handling product delivery? This makes it sound like the new crew can't afford to deliver the old orders until they get cash coming in from new sales. That's not a good indicator of how well financed this new venture is, IMO. One could assume that the critical part of saving the company is reestablishing a reputation of being able to deliver a timely block. At least if I was the new owner that is what I'd be thinking. Tim has the power to generate his own orders to KB from FHO's customers. Who's going to taken care of first? If this is the case it obviously affects me negatively. After two years I want my block! The alternative is I could have been out all my money so I'll take what I can get. In this case better late than never applies. The best thing they can do is call all the people who have paid and explain what the plan is and when to expect to have something they paid for years ago. As I stated above I paid half 25 months ago and I've been paid in full for nine months and only received one call last August. If I don't get a call by 2017 I'll have to start blowing up phones again.
1967 Coronet, 1989 Daytona tube chassis.
Former cars, 66 Charger, 67 R/T, 69 Coronet, 67 Dart GT.
-Banned for life from V8Buick.com-
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Re: Keith Black Racing Street Block
[Re: BradH]
#2217596
12/20/16 10:04 AM
12/20/16 10:04 AM
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Joined: Sep 2003
Posts: 2,175 Duloc
The Shadow
top fuel
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top fuel
Joined: Sep 2003
Posts: 2,175
Duloc
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Tim says he will be honoring blocks owed. They cant be done first but will be filtered through with regular runs starting at the longest owed. So there will still be some waiting but they will come. What ever happened to the FIFO (First In, First Out) approach to handling product delivery? This makes it sound like the new crew can't afford to deliver the old orders until they get cash coming in from new sales. That's not a good indicator of how well financed this new venture is, IMO. Call Ken and ask him yourself.... He didn't follow it but the new owners are supposed to? Get your head out of your a$$ IMO it would be a tough pill to swallow filling back orders that the money got pissed away. They are going to man up and fill them in a timely matter but you're expecting more. All I can say is WOW some people
Last edited by The Shadow; 12/20/16 10:06 AM.
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Re: Keith Black Racing Street Block
[Re: The Shadow]
#2217601
12/20/16 10:29 AM
12/20/16 10:29 AM
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Joined: Jan 2003
Posts: 15,439 Val-haul-ass... eventually
BradH
Taking time off to work on my car
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Taking time off to work on my car
Joined: Jan 2003
Posts: 15,439
Val-haul-ass... eventually
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Tim says he will be honoring blocks owed. They cant be done first but will be filtered through with regular runs starting at the longest owed. So there will still be some waiting but they will come. What ever happened to the FIFO (First In, First Out) approach to handling product delivery? This makes it sound like the new crew can't afford to deliver the old orders until they get cash coming in from new sales. That's not a good indicator of how well financed this new venture is, IMO. Call Ken and ask him yourself.... He didn't follow it but the new owners are supposed to? Get your head out of your a$$ IMO it would be a tough pill to swallow filling back orders that the money got pissed away. They are going to man up and fill them in a timely matter but you're expecting more. All I can say is WOW some people 1. I don't need to call; he doesn't have any of MY money. 2. Pull your own head out; my comment is based strictly that IF the new ownership can't fill the orders for those who have already paid and have been waiting before filling new orders, that's an indication that they don't have -- or aren't willing to put up -- the money to do so. 3. If new buyers are getting blocks while earlier purchasers are waiting their turn, the people who already kicked in their money have every right to be pi$$ed. If YOU can't understand the situation as described from a simple business perspective, that's not MY problem. "Some people..." indeed.
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Re: Keith Black Racing Street Block
[Re: 604Charger]
#2217693
12/20/16 01:05 PM
12/20/16 01:05 PM
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Joined: Oct 2004
Posts: 3,097 back in Georgia
dthemi
master
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master
Joined: Oct 2004
Posts: 3,097
back in Georgia
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As for being well, or under funded really isn't the point. A business venture is just that. Either a deal is profitable, or not. Why try first to save the old, if the new can't work? I know what it's like to get jammed out of money, so I get it. I want blood when I get jammed.
Take your own loss out of the thought, and it makes sense. Should it be a profitable company, then straighten out the inherited mess later when it works. Should it fail, then what does Tim owe anyone? He will have lost his investment, so why pick up Ken's tab?
When ya think about it for a sec, just talking about refunds, or filling past orders is huge. IMO
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Re: Keith Black Racing Street Block
[Re: 604Charger]
#2217890
12/20/16 05:40 PM
12/20/16 05:40 PM
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Joined: Nov 2004
Posts: 6,890 North Alabama
Monte_Smith
master
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master
Joined: Nov 2004
Posts: 6,890
North Alabama
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The thing about the money that Ken already has.......is that obviously it's GONE. Where makes no difference, it's GONE. If he could have produced blocks OR refunds, we likely wouldn't be having this discussion. According to how the new deal is laid out, Banning COULD say "oh well, hate it for those guys" and just start over, but it appears he is not going to do that and is going to assist Ken in getting that taken care of.
Somebody above mentioned a lawyer.........fine, get one. Guarantee it won't get you any closer to a block or money. Tim is not stupid enough to set up HIS investment to be used to take care of problems out of HIS control.
How things SHOULD be and how they are, is entirely two different things. As stated, how about give it a chance before piling on. Also seems the ones who DO have money tied up here are moaning the least. The ones saying what everyone else should do, don't have money invested, so it's a moot point
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Re: Keith Black Racing Street Block
[Re: dthemi]
#2217928
12/20/16 06:56 PM
12/20/16 06:56 PM
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Joined: Aug 2006
Posts: 290 Cincinnati, Ohio
d7cook
enthusiast
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enthusiast
Joined: Aug 2006
Posts: 290
Cincinnati, Ohio
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When ya think about it for a sec, just talking about refunds, or filling past orders is huge. IMO
Yes it is. But if you think about it there's good reasons for doing it. -Reputation. I can only assume KB's current woes are due to no new orders rolling in. If they don't fill the back orders you'll have a hornets nest of angry vocal people which won't help with getting new orders. -If KB went bankrupt then the assets are sold to the highest bidder and creditors paid. If someone buys in providing the needed capital to move on it's much easier but I assume all debts are still legally due including people who have paid for goods not yet delivered. If they didn't deliver back orders then there's a good chance lawsuits would start rolling in. (I'll disagree with Monte here. If someone buys in then their money is on the line. No way around it. I can only assume Tim looked at what was owed and considered it manageable) -Finally there may not be very much needed to finish many of the back orders. Unless I was lied to back in August my block is done except for sleeves, cam bearings and studs. Many others may be just as close if KB didn't have the capital or the credit to buy sleeves, bearings, studs etc to finish blocks. This is all speculation and opinion on my part. I'm sure there is a lot more to it. I'm also more than willing to sit tight. I don't have much choice. I just hope myself and the others with money on the line get a call sometime soon.
Last edited by d7cook; 12/20/16 07:05 PM.
1967 Coronet, 1989 Daytona tube chassis.
Former cars, 66 Charger, 67 R/T, 69 Coronet, 67 Dart GT.
-Banned for life from V8Buick.com-
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Re: Keith Black Racing Street Block
[Re: 604Charger]
#2217945
12/20/16 07:26 PM
12/20/16 07:26 PM
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Joined: Nov 2004
Posts: 6,890 North Alabama
Monte_Smith
master
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master
Joined: Nov 2004
Posts: 6,890
North Alabama
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Nobody REALLY knows other than parties involved, but a little common sense here goes a long way. We know Tim has done due diligence on researching this. If they are 20 blocks behind and have nothing to show........that's a 100K. So he is NOT going to open himself to be liable for that right off the bat. That would be stupid. Now if that 20 behind means they have 20 castings that need machining, or sleeves, whatever......well that is another matter, that is manageable. The reality is likely in the middle somewhere, but WE don't know. But I will about bet the farm that however it will be set up, Tim Banning or FHO will not be immediately liable for owed monies. That would be crazy.
My GUESS and it's strictly a guess, is that Tim is an investor to help get the company turned around. His "investment" assures that HE will get blocks to sell, which in turn creates cash flow that will allow Ken to fill backorders. But again, that's a guess
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