Champion Motors filed for chapter 11?

I have no connection to Champion, other than I almost bought car from them. I found them to be honest, nice guys who went out of there way to put me in the car i wanted, and get me out of the car i owned. It didn't work out but it wasn't for their lack of trying and help. That being said they appear to be a casualty of the economy and of the old business adage of getting " too big too fast". I hope they do well but i doubt in this economy i don't know that even a reorganization can get them back on track. On a lighter note it may be a good time to go in and pick up a new toy.

 

Aren't you the same guy who vehemently denied Champion was filing for chapter 11 a few months back and practically threatened a lawsuit against those that suggested it? Everyone in the dealer business knew this was going to happen, but somehow you came here and denied it on F-chat. It was not my place to contradict you back then, however I find it interesting that this has again come to light and you now have a different position. While I agree with you that a "shill" is not the correct word to describe your actions, I do find your motives questionable. I have done no business with Champion, however being in the car business I feel sympathy for their position, as this economy will claim many more dealers besides them. For someone with no vested interest in them, you seem to be very interested in continuously coming to their defense-just calling it the way I see it(and many others as well)

 

To the OP of the thread...you stirred the pot with your first post...LOL....
I am not a customer of Champion....however I am a business owner and I take no joy or satisfaction in seeing someone's business tank....esp. if that person is merely an casualty of the economy and did not do anything wrong in the operation of his business.
On a lighter note for those in Westchester County Ray Catena has purchased Westchester BMW.....I never had a Lexus but he enjoys a very good rep. for service and I am hopeful that I dont have to keep going to LI for service now...LOL
BTW Champion has a stunning 964 Turbo..or at least had....I wonder if they will try and move product more aggressively???.
Regards
S

 

Why don't we dispense with the personal exchanges and get on track here by having a discussion about what may happen to Champion.

I'm sure there are various opinions about what will be done and what will happen, so why don't we each chime in and make an inference about what they'll do based on what the law requires, what their position is, etc.

It seems to me that they'll have to start liquidating assets, and that they will not be able to operate according to "business as usual." They did build a museum, but of course at a HUGE price, which has caused them to have huge financial obligations. If filing for Chapter 11 should simply absolve them of those obligations while they continue to operate "as usual," well then we "the people" might need to re-evaluate the extent to which we permit this to occur. They've got assets, and they've got to sell them ASAP to pay off their debts. My $.02.

Cheap(er) Lamborghinis, anyone?

 

Wow - I remember when I got crap saying I heard the same thing (ie champion was filing for Chapter).

Ye protesth too much is the old saying, yes?

So what do you all think the Bankruptcy Trustee will do with all of the inventory? Do you think the Trustee will allow them to keep it while wiping out the creditors etc or make them sell the inventory, clear the debt and then give them a chance to rise from the ashes or something in between?

 

Some of you may remember Champion from being in Woodbury, I remember them when they operated out of a mobile trailer in Huntington with less than a dozen cars to offer. I watched these guys grow, and grow and grow to what we've all come to know and admire, but to say they got there without stepping over some toes would be an understatement. I won't get into the details or nitty-gritty, but lets say they did me wrong, and although I'm sad to see them (actually just the cars) go... I won't shed a tear!

Ohhh and by the way, I heard they have already SOLD the building! Wonder who the new landlord is, and how much longer they're gonna let the good-ol Champion boys stick around?

 

Well frak. I had forgotten about that one. Yes he is the one and the same.

http://ferrarichat.com/forum/showthread.php?t=222424

Here is Globals BS post from about 4 months ago;

Seth, I am sorry, but Paul was right. You are either a paid or an unpaid shill for Champion. Either way, after reading the above and with hind sight showing that you are full of it, I have to play this on you;


Image Unavailable, Please Login

Paul had it right, you are owned.

 

Absolutely I posted all of that, because at the time (BACK IN NOVEMBER ) there was NO filing and the 'rumor mill' was churning which as a result affected sales. I posted back then that it was not true and it wasn't. You find it interesting that I have a different position? I don't - now the facts are different why wouldn't I have a different position? Never denied anything, just didn't support lies and made sure that the public knew the truth.

What will happen now, well from what I understand it is 'business as usual.' Chapter 11 is not a liquidation to pay off debt, it doesn't shut down your ability to operate or sell cars. It is an opportunity to 'bench your debts' continue with new business and collectively resolve oustanding issues over time. In laments terms, catch up at a reasonable pace so you don't get overwhelmed.

Liquidating assets to cover debt occurs when you are Chapter 7, Chapter 11 is very different....

As far as the building is concerned, I am not aware of any sales that took place, so I really can't comment on that issue.

 

Seth, you can not claim to have inside info on a company and then say you do not. Your post about the legal implications of people saying Champion would file for protection (Which since true show they knew much, much, much, more than you who have an office there did.) which turned out to be true are not looking good for your credibility.

Best to hang it up before it gets worse.

 

What the hell does that mean? "Your post about the legal implications of people saying Global would file for protection" who the hell is Global? Thats my part of my screen name" I think you are confused.

 

You are correct. It is Champion that would and did file for protection. Thank you for catching that.

Still the point is correct. You were owned and embarrassed for being full of crap about a company you say you work with in.

 

Full of crap? You my friend are sitting there basking in the glory of what? I never denied anything, you are way off track. Embarrased? Not at all, I did nothing to embarass myself. I don't base my self-worth or pride on an internet forum. I was woken up with the sad news of a dear friend's mother passing tonight to only find this useless banter online.

You should be embarassed to be stomping on someone elses misfortune in an attempt to enrich your internet status. That is a new one for me, I look to offer positive posts and anything educational to the forums. I was informing the public of facts not fiction. Just being a friend. I guess some people just get their kicks from kicking people.

 

Hummm.... Lets recap.

Someone who now obviously knew what they were talking about posted up that it looked like Champion was heading for Ch 11 or something close to it.

You, Seth, said it was not true and warned people about legal consequences if they even said it. (This you admittedly had no authority to do as you admittedly do not work for Champion... but you said it anyway. Bet the big guy at Champion would be happy with your non-lawyer defense of them.) You're threatening legal action for a company you "don't work for" is pretty stupid to say the least. Now that we see you were flat out wrong about it earns you the owned card.

Image Unavailable, Please Login


Now we see they are in fact filing for protection, you again leap to there defense and only when pressured by Paul do you admit you do not work there... oh but wait, you DO work there in a office but surprisingly have no clue really about the company as you are only a contractor yet you pro-port to know the books and ledgers of Champion (Remember the legal threat in November?) Again, I bet if someone called Champion they would be happy as a clam about how much you know and are willing to share about their company.

You cant have it both ways Seth. You got owned once, and now again. Paul may have coined a new term for you; keep "shilling" it up.

Got to throw this one up now. You only have yourself to blame.
Image Unavailable, Please Login

 

Keep bending and twisting everything, you my friend are owned, I never stated anyone would take legal action, I stated that if someone wanted to they could possibly take legal action and someone could possibly be subject to legal action. You love to twist things around. I don't represent Champion at any level, I just don't see the thrill of stomping on someone.

No one has been owned....

You are basking in your glory for something so insignificant, I hope this brings you great pleasure.

 

Now, for the first time, I understand "Global Warming"

Mike in Kuwait

 

Twisting what? You are the one who is wrong. It was common knowledge in the auto industry that Champion has been floundering for some time. Evidently that was not a rumor as you have suggested. The fact that they have filed at this point is mere semantics to try and support your claim. True, they werent filing for bakruptcy back then, but the mere suggestion that they were having difficulties sent you into myriad of defense posts right up to the point that the thread was locked(which I am sure will happen with this one). When it was suggested that Champion was having difficulty back in November YOU were the one that said they were doing FINE and that there was no suggestion that anything was wrong-well you have just been proven to be a liar. While I see the logic in defending that cause back then, I cant see what your purpose is now that the info is public record. Fwiw, Champion did not go chapter 11 because someone on f-chat or any other place suggested they were bankrupt/having problems back in Nov-that is absurd. I am confident they did not even lose one sale because of that suggestion, in fact with the current vultures prowling the streets looking for cars, I would think it might actually help their cause and bring more people in the door looking for deals. If this is so insignificant, why have you spent so much time on it?

You should stick with supporting causes that actually put you in a good light( like all the help you have given to Ludmilla) because supporting this one hasn't helped to gain you too many friends and makes you come across as somene you may not be.

 

Popcorn is ready.

 

please note from my november post:

11-18-2008, 02:55 PM
GlobalLambo

"People love to start rumors, but you are a bit old on the rumor, it was started weeks and weeks ago from 2 sources that I am aware of, 2 different dealership employees. Well I can tell you from personal knowledge that they are NOT bust, bankrupt, closing the doors, or anything of the sort.

Truth be told, if anyone claims they are thriving right now they are outright lying, however, they usually sell 80-100 cars per month, and that did in fact take a dip in October, but heck when was the last time any dealership that anyone has purchased an exotic from sell 100 cars in a month! "


I state that sales took a dip in October, and yes they were still fine then, there was NOT a threat of financial distress until recent when things took a turn for the worse at the turn of the year.

BTW - How I channel my time and the causes I focus on is my business. I have helped many people, you see that is my nature, I don't tear people down, I help build them up, it's what makes me the person I am. I can be proud of who I am and what I have accomplished and never second guess myself. Just ask anyone who has come into contact with me through business or personal levels. I go that extra yard. So to attack me personally will get you nowhere. Your suggestion is noted but completely ignored.

 

Your absolutely right and I wasnt stating otherwise. I was just trying to pay you a compliment, but unfortunately your continued arrogance, has overshadowed any good deed you have tried to accomplish.

 

Are they finally going to drop the price on the $475k F40?

 

And on that note:
Image Unavailable, Please Login