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?

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???

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.

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.

Thanks for the info.

You'd be hard pressed to find somebody who stands more behind his word and product than Tim

I have a question.....what happened to all of the money that Ken took from all of the people that are still waiting for blocks? Isn't that called theft? I, like most here, hope that Tim can save the KB product and applaud his effort to right Ken's wrong. But I also hope that Ken feels he has some responsibility to make things right.

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.

Cool your jets guys. First you have EVERY right to be upset about the way that Ken Black has handled this. Tim is trying to save this deal and the ink is not even on the contract let alone dry. Honoring the existing order is a primary concern and the methods to do that are being hashed out as we speak. I have first hand information that the new ownership is dead serious about restoring the reputation of the blocks and that means taking care of people that have already been in line. I also know that Tim will be announcing very soon what the deal is in a public and professional way. Hang in there just a bit longer and give him a chance to get the keys to the car before he starts getting bum rushed. Give the guy a chance before everyone starts with all the negativity.
The new effort is well financed and the new team has to get in the door and establish who payed what,when? New suppliers for head studs, sleeves and odd parts are already in the works. I know that there are members here who to this point got the shaft and I am included on that list.
This is still a fluid situation and while Tim does not expect a bunch of fan boys, lets all give him a little time and space to pull this heap of mess out of the ditch.
Todd

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.

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

My just need me feeling this way but..I'm sorry if he had my money in full payment for 2 yrs I don't need to wait any longer..I'm getting a lawyer or something..we're not talking about 200 dollars here and many things in people life change from day to day God forbid 2 yrs..that's why I couldn't wouldn't up to get a block I'm self employed in have maintenance tires anything is possible..now would it be any different if I had the block at home some may ask cause those things still may come up ..yes it does in have my block at home he don't have my 5or6 thousand dollars and my block ..but as I said some may not feel the same.

As some others have said for themselves, I don't have a dog in this fight, either. I've expressed some opinions, and from here out all I can say is I hope that KB survives and is able to produce quality products in the future, as well as do the right things to re-establish the company's business reputation.

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

Yep being out 7500$ for 15 months and not being able to finish my race car is not a very good feeling. Oh and a divorce 7 months ago. I think I have been pretty nice. Just hope all I have been told is true. Not getting a block will end my deal. It sounds like everyone is jumping too soon. I did not reveal any info just because of this reason. Everyone has a opinion but if you are not one that is out money in this deal, you should not hammer anyone that is involved. Have faith in the deal and hope it is sooner than later. Quit being keyboard warriors and get along. Thanks Monte as for I feel the same way.

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.

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