Large Scale Central

Black Thursday, the 26th has arrived...well, any news?

General Discussion
#61
John Joseph Sauer said:
Hans-Joerg Mueller said:
Wolfgang Richter was apparently in tears - yes, I do feel sorry for [b]him [/b]!
Dry your eyes Alpski- He doesn't need your pity- you've trashed his son and company enough!
Interesting...I dont recall HJ being listed on any of the documents about who was at the controls when the company crashed, and I dont recall HJ being behind the selling of the family jewels, namely the archives at the infamous Firesale last year.

JJ. Marvin or whoever the heck you are, one day you will have to face the FACTS about this debacle and see that NOBODY here did LGB in, as a family run business the fault lies SQUARELY in those in charge, and NO ONE else.

All we are doing is exercising that little thing gaurenteed by the first amendment called FREEDOM OF SPEECH which means that we can and will discuss whatever aspects of this situation we feel are important. So get used to it, no amount of TROLLING is going to prevent it. And I DO see you comments of late as being nothing but that, only to provoke the discussion into a flame war.

Dave, Tim, Tony, HJ, et al

The best simple solution is this: DO NOT FEED THE TROLL

When this guys posts something thats clearly intended to create disruption simply ignore it or simply reply “DNFTT” (Do Not Feed The Troll)

Eventually they get the message and either settle down, move on, or post something SO over the top they get their ass nuked off the site.

#62
Hans-Joerg Mueller said:
Warren Mumpower said:
Curmudgeon said:

New Berlin (can you believe it?) Wisconsin, USA.

You see, I ask questions, get answers, put puzzles togeher and see what generally is happening without being spoon-fed from the Feud.

Guess where warehousing will be?
Distribution?
Repair?


As I said above: "I pity poor Tom at Marklin USA. :frowning: "

He’s going to have to put up with their so wonderful email campaign. Will do about as much good as the one to Germany…:lol:


Warren,

There is always “Thank you for your inquiry” and “Thank you for your recent mail” to acknowledge such “profound advice”. It’s called boiler plate. :wink: :slight_smile:

BTW I am surprised that LGBoA hasn’t issued a press release, yet. One would think that they would have had two versions at the ready, but tempers were a bit strained on Thursday. According to eyewitnesses Stefan Jakob stormed out of the meeting in furious anger. Wolfgang Richter was apparently in tears - yes, I do feel sorry for him !

One press release version I would have expected no later than yesterday would have been the reassertion that they are the rightful owners of whatever they claimed to be the rightful owners of back in February. We shall see what will be in that press release when it finally appears! :wink: :slight_smile:


Got this on the 27th from LGBoA.

Dear LGBoA Customer:

The acquisition of EP Lehmann in Germany has been completed in favor of Marklin.

At this time we don’t have any further information as to what Marklin’s intentions for the US market are.

Mr. Castellano and Mr. Buffington are going to Germany next week to try to determine what LGBoA’s position will be in the future with regard to LGB products.

Our feeling is that it would be in the best interest of Marklin to work out a smooth transition and continue to use LGBoA to distribute for them, at least until such time as they know which direction they want to follow.

As you know LGBoA has been bringing other products to the market and your support of those products would certainly help.

Please be sure to look over the latest LGBoA newsletter that was sent out yesterday.

We will keep you posted as this situation evolves

#63

They could save the airfare.

Unless something changes, I’ve been told New Berlin, Wisconsin will be the distribution center.

#64
Curmudgeon said:
They could save the airfare.

Unless something changes, I’ve been told New Berlin, Wisconsin will be the distribution center.


Sounds pretty logical. The dealer network is established, the rest will follow.

BTW if some of the comments I heard from dealers regarding dealing with LGBoA are any indication, it will be a welcome change. :slight_smile:

#65

Saving airfare isn’t their concern. Saving their a$$ is…:confused: I’m currently in agreement with TOC on this one. Marklin will use their own distribution center in Wisconsin. LGBoA needs to get on with life in a different direction. It seems they must not have done a worst case scenario business plan :(.

#66
Warren Mumpower said:
Saving airfare isn't their concern. Saving their a$$ is....:/ I'm currently in agreement with TOC on this one. Marklin will use their own distribution center in Wisconsin. LGBoA needs to get on with life in a different direction. It seems they must not have done a worst case scenario business plan :(.
Why, should they have? With all their "friends" in the right places, pulling all the "right" strings?

Slogan: " Everything is just fine. Business as usual!"
That has been the dogma for so many years, hard to change from one day to the next. Besides it’s not “next week” yet, or is it???

#67

Obviously they did not have the same business professor that I had. He drilled into our head the recipe for failure like a mantra: Over expectation and Undercapitalization…:confused:

#68

Dennis I read that so differently from everyone else, this is how I read key parts it this way:

“At this time we don’t have any further information as to what Marklin’s intentions for the US market are.”

My translation: this wasnt supposed to happen, we have no idea whats going to happen now

“Mr. Castellano and Mr. Buffington are going to Germany next week to try to determine what LGBoA’s position will be in the future with regard to LGB products.”

My translation: going to see what they will be left with on the table

“Our feeling is that it would be in the best interest of Marklin to work out a smooth transition and continue to use LGBoA to distribute for them, at least until such time as they know which direction they want to follow.”

My translation: We will try at least to part of the distribution system

“We will keep you posted as this situation evolves”

My translation: we have no idea whats going to happen next

This is all my own opinion of course, I always try to read thru the spin so this is all just IHMO…but my sonar has been pretty reliable at sifting thru the BS and getting to the core of a matter.

Bottom line: Interpretation of the message: this is very bad, unexpected on their part, and they are now waking up to the reality of the situation and they are very concerned.

I suspect that they have finally waken up and are just smelling the coffee :open_mouth:

#69

With Marklin in control of Lehmann then we have an interesting legal position. If LGBoA are in possession of stock, not paid for, then are they able to continue shipping that stock to retailers? The company spokesperson in February made it public that they owned the worldwide distribution and tradename marketting rights. I view the words ‘smooth transition’ to mean, unless you want a legal wrangle over distribution rights then play ball as we received the rights from the parent company, lock stock and barrel.

Marklin’s alternative is to ditch the actual tradename and circumvent the possible legal situation. This way LGBoA are holding a fistfull of nothing. The final words about supporting the other items ‘we distribute’, sounds like a desperate plea. The wording on the Ridge Road site sounds like it is expected that Marklin will release the ex-Lehmann products under the LGB tradename. Time will tell.

#70

In US Bankruptcy law - if someone writes a bunch of checks to a relative or friend for payment of goods/services or sells portions a company/land/etc to a friend or relative…and THEN the orginal owner files bankruptcy or someone calls a note - the money sent or item sold can be made “null and void” or the sold assets can be “tapped” for payment.

I took ownership of our home from my mother more than 3 years prior to her death. She owed [medical bills up the wazoo, poor soul] and the creditors tried to go after the asset of the home and they COULD have if “sale” of the home to me was LESS than 3 years.

Where does German law stand on this with respect to “insolvency”?

And where is this LGB news release posted at that LGBofA is going to Germany? Only in email? Doesn’t that make it suspect? I mean - I was an LGB customer and I even had service done at LGB of A. I never got an email… Has that email been posted anywhere else? No offense but I should think that would be something that LGB of A would want to post publicly.

Or not…

Just wondering…

#71

Stephen,

Some of us have been “wondering” ever since this saga started to unfold.

Others have been trying to stop the “wondering” taking place, to no avail.

Perhaps the authorities in Germany will now start to “wonder” in earnest.

Perhaps some will “wonder” what hit them when the dust finally subsides. :wink:

#72

Well…as I said on MLS - in 30 days we will know more. Marklin didn’t buy on the “promise” of what they owned although the full price still hasn’t been paid for LGB until they see “how much” they own. Regardless - it appears Marklin got a deal especially IF it all goes to them…quarter million to develop in engineering costs…isn’t that the going rate to bring out a “new” engine these days?

#73

If LGBoA paid fair market price for the stock they have, molds and the rights to the LGB name then the sale is good and it can’t be touched. If it was an under the table $1 sale then the assets are worthless to LGBoA and rightfully should be returned. The question is "What happened to the money paid by LGBoA for the stock, molds and rights to the LGB name? It rightfully should have gone to the creditors.

I suspect that the $1.5 million (approximate) that Marklin held back in case things were not as expected was actually money held back for anticipated attorney’s fees to fight LGBoA.

Time will tell.

There is always jobs for used car salesmen…:confused:

#74
Quote:
If LGBoA paid fair market price for the stock they have, molds and the rights to the LGB name then the sale is good and it can't be touched.
Does German law say that? Did the money from the sale of LGBofA [if fair market share price or not] GO to the banks?
#75

As for German law, I don’t know. But if fair market price was paid and the Richters diverted the funds to their own use rather than to the creditors then someone could wind up in jail. If someone at LGBoA was party to the diversion of funds then there is a conspiracy to defraud. That’s jail big time and could null and void the sale. (The above is based on US law and I’m assuming that German law is similar in those aspects). What’s needed to prove the case is what will vary greatly from one country to the next.

#76

Warren,
I respectfully urge you to avoid such speculation as it could be interpreted as being highly inflamatory.
That sort of unsubstantiated speculation is just what others have been hoping will be aired to enable them to claim it was all a conspiracy.

I am sure the German authorities are well aware of such speculation anyway.
If they choose to act upon such speculation, we will in the end, hear about it and any possible outcome.

#77
Warren Mumpower said:
If LGBoA paid [u][b]fair market price[/b][/u] for the stock they have, molds and the rights to the LGB name then the sale is good and it can't be touched. If it was an under the table $1 sale then the assets are worthless to LGBoA and rightfully should be returned. The question is "What happened to the money paid by LGBoA for the stock, molds and rights to the LGB name? It rightfully should have gone to the creditors.

I suspect that the $1.5 million (approximate) that Marklin held back in case things were not as expected was actually money held back for anticipated attorney’s fees to fight LGBoA.

Time will tell.

There is always jobs for used car salesmen…:confused:


Warren,

Did you study German jurisprudence? No? I didn’t either, but I did a bit of reading. “Pod” is on the right track!

The money held back I would look at as insurance that what the trustee listed is actually all there and ready.

“Trustee” implies certain qualities; perhaps Kingsbridge/Märklin has information - apart from the pulling of strings and fancy footwork that apparently went on in Nürnberg - which could indicated the “qualities” as wanting.

#78
Hans-Joerg Mueller said:
Warren Mumpower said:
If LGBoA paid [u][b]fair market price[/b][/u] for the stock they have, molds and the rights to the LGB name then the sale is good and it can't be touched. If it was an under the table $1 sale then the assets are worthless to LGBoA and rightfully should be returned. The question is "What happened to the money paid by LGBoA for the stock, molds and rights to the LGB name? It rightfully should have gone to the creditors.

I suspect that the $1.5 million (approximate) that Marklin held back in case things were not as expected was actually money held back for anticipated attorney’s fees to fight LGBoA.

Time will tell.

There is always jobs for used car salesmen…:confused:


Warren,

Did you study German jurisprudence? No? I didn’t either, but I did a bit of reading. “Pod” is on the right track!

The money held back I would look at as insurance that what the trustee listed is actually all there and ready.

“Trustee” implies certain qualities; perhaps Kingsbridge/Märklin has information - apart from the pulling of strings and fancy footwork that apparently went on in Nürnberg - which could indicated the “qualities” as wanting.


Who knows which jurisdiction the contract was subject to, has it been stated?

#79

HJ, I never disagreed with that. But if it isn’t as it should be then Marklin has that money to go after whomever and attempt to make it right.
Tony, I’m not trying to flame you, but…I stand strong on my liberties as a US citizen and freedom of speech is one of those. I’m f’ing sick of people trying to censor me and stop me from my right to free thought and speech. As far as I’m concerned, the trolls, ventilators and whomever else can go FOAD!

FOAD = F*** Off And Die!

Oops! :frowning: Got my facts twisted in my shorts…changed that to Tony, not Pod.

#80
David said:
Who knows which jurisdiction the contract was subject to, has it been stated?
Well, as a rule if a German registered company is transferring/selling parts of its holdings, such as a subsidiary, then that would have to be registered with the German registrar. The best indication of which jurisdiction applies is the insolvency jurisdiction, which in this case is Nürnberg.

BTW my recent search of the trademark ownership was still solidly pointing to EPL in Nürnberg, it could be “backlog” or it could be sloppy follow-up on someone’s part. Or someone’s statements regarding ownership could have been a lot of spin.

There is one confirmed fact: Kingsbridge/Märklin has been awarded the bid.

The rest will be sorted “as they move forward” (I just like that kind of Newspeak! :frowning: )!
I’m looking forward to the product line being cleaned up and product arriving at dealers.