Dealer won't fund Factory, Need Advice
12-24-2012, 03:10 PM
#661
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Chuck
You can take shots at me all day long. I have nothing to lose in this whole deal. I will say again, Im sorry your in this position. Some of which I feel was brought on by you, whether by your legal woes, the titles to your boat and subsequent payment from OCM direct to you or your relationship with Frisini, etc.. It is unfortunate thats for sure.
I wish the best for you and hope that your new ride meets all your dreams in a couple of months. Maybe then you can start the healing process from all that has happened to you (if this is the only outstanding personal issue you have left). Life is short that is for sure. Some have made statements here how the loss of a boating season is a travesty as if it were a business or investment with some sort of return financially. It is not. It is a sport. An activity that you enjoy with family and friends. Life goes one and so will yours.
You can take shots at me all day long. I have nothing to lose in this whole deal. I will say again, Im sorry your in this position. Some of which I feel was brought on by you, whether by your legal woes, the titles to your boat and subsequent payment from OCM direct to you or your relationship with Frisini, etc.. It is unfortunate thats for sure.
I wish the best for you and hope that your new ride meets all your dreams in a couple of months. Maybe then you can start the healing process from all that has happened to you (if this is the only outstanding personal issue you have left). Life is short that is for sure. Some have made statements here how the loss of a boating season is a travesty as if it were a business or investment with some sort of return financially. It is not. It is a sport. An activity that you enjoy with family and friends. Life goes one and so will yours.
12-24-2012, 04:30 PM
#663
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Chuck,
I look forward to the good news of delivery on your new boat and am confidant that this will all work itself out.
Happy Holidays,
Kelly
12-24-2012, 04:46 PM
#664
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Those payment were made by me, which was my choice, not a requirement of the contract. Being a business person in todays banking economy I realize how cash strapped business can be, and though this might help ( not saying either of these two fit the category, but maybe venders they used do)
A:I asked Tony 6 weeks before the date I needed my boat if he truly felt it could be finished in the time. If we both didn't feel it could be done i was going to walk away from the project, and would fight to get my deposit back.
B:If Chucks build contract calls for progress payments, and payments are not being made that is one thing, If it calls for a deposit, and payment in full when inspected and approved, then that is what is currently happening.
A:I asked Tony 6 weeks before the date I needed my boat if he truly felt it could be finished in the time. If we both didn't feel it could be done i was going to walk away from the project, and would fight to get my deposit back.
B:If Chucks build contract calls for progress payments, and payments are not being made that is one thing, If it calls for a deposit, and payment in full when inspected and approved, then that is what is currently happening.
B: thats what this whole thread is about, OCM isn't releasing money to the factory to finish the boat.
Both the dealer and the builder smell like ass, they cant and wont finish said product on a timely basis. Why is this only acceptable in the marine industry. Regardless if chuck got the money from his aunt Mabel and pays her a dollar a month for eternity, 2 business people have failed miserably to deliver a product that they are "in business" to deliver. if I go to Ruths Chris, do I really care if they are having an argument with the beef supplier? they took the boat on trade, they sold the boat at a profit, they have the fiscal responsibility to fund the build. it's as simple as that.
12-24-2012, 05:27 PM
#665
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thats what this whole thread is about, OCM isn't releasing money to the factory to finish the boat.
Both the dealer and the builder smell like ass, they cant and wont finish said product on a timely basis. Why is this only acceptable in the marine industry. Regardless if chuck got the money from his aunt Mabel and pays her a dollar a month for eternity, 2 business people have failed miserably to deliver a product that they are "in business" to deliver. if I go to Ruths Chris, do I really care if they are having an argument with the beef supplier? they took the boat on trade, they sold the boat at a profit, they have the fiscal responsibility to fund the build. it's as simple as that.
Both the dealer and the builder smell like ass, they cant and wont finish said product on a timely basis. Why is this only acceptable in the marine industry. Regardless if chuck got the money from his aunt Mabel and pays her a dollar a month for eternity, 2 business people have failed miserably to deliver a product that they are "in business" to deliver. if I go to Ruths Chris, do I really care if they are having an argument with the beef supplier? they took the boat on trade, they sold the boat at a profit, they have the fiscal responsibility to fund the build. it's as simple as that.
1. OCM had sent Frisini all the money up front ? The boat still wasnt finished ? OCM would be out the money, Chuck without a boat and OCM on the hook for 100% of the sale and Frisini 100% funded and no pressure to finish it.
2. OCM hadnt sold the boat. There would be no funds for the new boat.
3. What if OCM had sold the trade, paid off the lien holder, sent a portion of the net proceeds to Frisini and Chuck was unable to secure or fund the balance of the new boat ? Frisini would still want to be paid when finished by OCM and OCM would be out the money til they sold the boat to another buyer. This, a boat that was custom built with specific colors, not necessarily the same as the general public might consider.
Does GM wait til you pay the dealer and the dealer to pay them 100% of the cost of a new Corvette (since were talking high end stuff) before they build it ? Nope.
If Frisini wants to sell boats, they need to have their own corporate funding in place. I agree that some sort of an order deposit be made to keep all parties above board or risk the loss of said deposit.
12-24-2012, 06:08 PM
#666
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responding to Offshoredrillin
A: in todays economy, what did you think he would say? of course he would say anything to keep you on the hook, and 6 weeks down the road, he would use the "money pit" term, 2 weeks...
Do you think it is unrealistic to think a boat could be rigged in 6 weeks seeing as the boat is out of the mold, deck bonded to it, sanded, primed, and base coated? I am not from the industry, but after reading other builders talking about the length of time from out of the mold to finished boat it seemed reasonable to me.
I think if there wasn't delays with other outside subs they probably would have made it, but who knows.
B: thats what this whole thread is about, OCM isn't releasing money to the factory to finish the boat.
You seem to have some knowledge we don't have as to the terms of the contract, do you? If the contract does not call for installment payments, why would OCM put more money at risk by funding more on the boat? If it does call for them they should. Pretty simple to me.
A: in todays economy, what did you think he would say? of course he would say anything to keep you on the hook, and 6 weeks down the road, he would use the "money pit" term, 2 weeks...
Do you think it is unrealistic to think a boat could be rigged in 6 weeks seeing as the boat is out of the mold, deck bonded to it, sanded, primed, and base coated? I am not from the industry, but after reading other builders talking about the length of time from out of the mold to finished boat it seemed reasonable to me.
I think if there wasn't delays with other outside subs they probably would have made it, but who knows.
B: thats what this whole thread is about, OCM isn't releasing money to the factory to finish the boat.
You seem to have some knowledge we don't have as to the terms of the contract, do you? If the contract does not call for installment payments, why would OCM put more money at risk by funding more on the boat? If it does call for them they should. Pretty simple to me.
12-24-2012, 06:19 PM
#667
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What if:
1. OCM had sent Frisini all the money up front ? The boat still wasnt finished ? OCM would be out the money, Chuck without a boat and OCM on the hook for 100% of the sale and Frisini 100% funded and no pressure to finish it.
2. OCM hadnt sold the boat. There would be no funds for the new boat.
3. What if OCM had sold the trade, paid off the lien holder, sent a portion of the net proceeds to Frisini and Chuck was unable to secure or fund the balance of the new boat ? Frisini would still want to be paid when finished by OCM and OCM would be out the money til they sold the boat to another buyer. This, a boat that was custom built with specific colors, not necessarily the same as the general public might consider.
Does GM wait til you pay the dealer and the dealer to pay them 100% of the cost of a new Corvette (since were talking high end stuff) before they build it ? Nope.
If Frisini wants to sell boats, they need to have their own corporate funding in place. I agree that some sort of an order deposit be made to keep all parties above board or risk the loss of said deposit.
1. OCM had sent Frisini all the money up front ? The boat still wasnt finished ? OCM would be out the money, Chuck without a boat and OCM on the hook for 100% of the sale and Frisini 100% funded and no pressure to finish it.
2. OCM hadnt sold the boat. There would be no funds for the new boat.
3. What if OCM had sold the trade, paid off the lien holder, sent a portion of the net proceeds to Frisini and Chuck was unable to secure or fund the balance of the new boat ? Frisini would still want to be paid when finished by OCM and OCM would be out the money til they sold the boat to another buyer. This, a boat that was custom built with specific colors, not necessarily the same as the general public might consider.
Does GM wait til you pay the dealer and the dealer to pay them 100% of the cost of a new Corvette (since were talking high end stuff) before they build it ? Nope.
If Frisini wants to sell boats, they need to have their own corporate funding in place. I agree that some sort of an order deposit be made to keep all parties above board or risk the loss of said deposit.
12-24-2012, 06:53 PM
#669
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Cpl shots
12-24-2012, 06:54 PM
#670
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With the gauges installed
