For Sale: Saleen Inc.

Started by SVT666, November 10, 2008, 10:43:09 AM

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SVT666

November 10, 2008, 10:43:09 AM Last Edit: November 10, 2008, 04:32:11 PM by HEMI666
Anyone want to buy a car company?  I've got $20 to start.




Saleen goes up for sale

It seems like every day there is some headline involving the economic downturn and at least one of the major automakers, but very rarely is there anything on the smaller manufacturers. But even the little guys are feeling the economic strain, with Saleen recently announcing that its operations are up for sale.

Saleen is best known for tuning Ford products, but also produces the S7 supercar and has plans to produce the S5S concept shown at last March?s New York Auto Show. In addition to working on its own creations, Saleen also built the GT for Ford and has a hand in the production of the Dodge Viper.

The automaker has been in a bit of turmoil since Hancock Park Associates purchased a majority stake in Saleen in 2004, which ultimately lead to the departure of Steve Saleen, the company?s founder. High gas prices and the recent economic downturn have further eroded the business, leading to the ?For Sale? sign in Saleen?s front yard.

According to Automotive News, Saleen?s board is hoping for a quick sale, with a time table for a signed deal set for early next year. Saleen isn?t wasting any time getting the ball rolling as it has already sold 20 Ford Mustang GTs, office equipment and factory equipment at auction.

SVT_Power

#1
November 10, 2008, 10:55:51 AM
isn't this old news?
"On a given day, a given circumstance, you think you have a limit. And you then go for this limit and you touch this limit, and you think, 'Okay, this is the limit'. And so you touch this limit, something happens and you suddenly can go a little bit further. With your mind power, your determination, your instinct, and the experience as well, you can fly very high." - Ayrton Senna

the Teuton

#2
November 10, 2008, 11:04:58 AM
I have $5 in my pocket right now.  Who's with me?
2. 1995 Saturn SL2 5-speed, 126,500 miles. 5,000 miles in two and a half months. That works out to 24,000 miles per year if I can keep up the pace.

Quote from: CJ on April 06, 2010, 10:48:54 PM
I don't care about all that shit.  I'll be going to college to get an education at a cost to my parents.  I'm not going to fool around.
Quote from: MrH on January 14, 2011, 01:13:53 PM
She'll hate diesel passenger cars, all things Ford, and fiat currency.  They will masturbate to old interviews of Ayn Rand an youtube together.
You can take the troll out of the Subaru, but you can't take the Subaru out of the troll!

Eye of the Tiger

#3
November 10, 2008, 11:07:11 AM
I've got $35
2008 TUNDRA (Truck Ultra-wideband Never-say-die Daddy Rottweiler Awesome)

SVT666

#4
November 10, 2008, 11:11:36 AM
Quote from: M_power on November 10, 2008, 10:55:51 AM
isn't this old news?
No.  It was just announced.  They were liquidating assets before as part of a "restructuring" that many, including myself, believed was the beginning of the end.  It seems we were right.

SVT_Power

#5
November 10, 2008, 11:48:43 AM
Quote from: HEMI666 on November 10, 2008, 11:11:36 AM
No.  It was just announced.  They were liquidating assets before as part of a "restructuring" that many, including myself, believed was the beginning of the end.  It seems we were right.

ah yeah that's what i remembered
"On a given day, a given circumstance, you think you have a limit. And you then go for this limit and you touch this limit, and you think, 'Okay, this is the limit'. And so you touch this limit, something happens and you suddenly can go a little bit further. With your mind power, your determination, your instinct, and the experience as well, you can fly very high." - Ayrton Senna

ChrisV

#6
November 10, 2008, 01:25:01 PM
This is actually pretty typical even in good business times: buy a majority stake in a successful small company, get rid of the original creative mind behind the company, and watch as the company flounders.

Yeah, the few exceptions to the rule can be successes, but usually not.
Like a fine Detroit wine, this vehicle has aged to budgetary perfection...

sandertheshark

#7
November 10, 2008, 09:30:12 PM
I'm in.  I'll pay anything to get one of the S5S Raptors.



                 :wub:                 :wub:                 :wub:                 :wub:                 :wub:                 :wub:                 :wub:

Madman

#8
November 12, 2008, 10:50:56 AM
Quote from: ChrisV on November 10, 2008, 01:25:01 PM
This is actually pretty typical even in good business times: buy a majority stake in a successful small company, get rid of the original creative mind behind the company, and watch as the company flounders

Yep, that's exactly what happened to TVR.  Peter Wheeler went and in came Russian wonderboy Nikolai Whatshisname and Blackpool loses it's one and only carmaker.

Cheers,
Madman of the People
Current cars: 2015 Ford Escape SE, 2011 MINI Cooper

Formerly owned cars: 2010 Mazda 5 Sport, 2008 Audi A4 2.0T S-Line Sedan, 2003 Volkswagen Passat GL 1.8T wagon, 1998 Ford Escort SE sedan, 2001 Cadillac Catera, 2000 Volkswagen Golf GLS 2.0 5-Door, 1997 Honda Odyssey LX, 1991 Volvo 240 sedan, 1990 Volvo 740 Turbo sedan, 1987 Volvo 240 DL sedan, 1990 Peugeot 405 DL Sportswagon, 1985 Peugeot 505 Turbo sedan, 1985 Merkur XR4Ti, 1983 Renault R9 Alliance DL sedan, 1979 Chevrolet Caprice Classic wagon, 1975 Volkswagen Transporter, 1980 Fiat X-1/9 Bertone, 1979 Volkswagen Rabbit C 3-Door hatch, 1976 Ford Pinto V6 coupe, 1952 Chevrolet Styleline Deluxe sedan

"The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom." ~ Isaac Asimov

"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." - Johannes Kepler

"One of the most cowardly things ordinary people do is to shut their eyes to facts." - C.S. Lewis

Nethead

#9
November 12, 2008, 01:24:07 PM
Maybe Saleen's new company can get the rights to the PJ Editions & the Gurney Editions cheaply from the old company--including the suspension underneath both and the stroker 4.6L mechanicals.  Parnelli & Dan would want it that way, too... 

The S7?  I'm indifferent to $600,000 vehicles, even in good times...
So many stairs...so little time...
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