As quoted from ttocs' article:
"There's a reason why there aren't a lot of companies like us that do this, but for us to have been doing it every model year as long as we have, we must be doing something correctly," Saleen told
AN. "Year over year, we have been improving.
As with any company, we continue to need capital."
The copy of the Face-thing post by a "Team Saleen" handled Wayne Mertz is interesting as well. I clicked on the link in the OP and it does indeed now show a correction which I DO NOT remember being there on Monday.
Something is fishy with this whole thing. Why would they "partner" or enter into a "license agreement" with the Chinese? Maybe see the highlighted text. Partnering with the Chinese, huh? Anyone see
Goodfellas? Remember when the guy who owned the restaurant "partnered" with Pauly? How did that work out for him? You only need more capital when you are losing money. If you are making money, you only use someone elses money when it's cheaper than using your own I.e., you're making 10% on yours but someone else will loan you theirs for say 5%. If an accountant were to go into a board room with the answer of "we must be doing something right", "we posted revenue of 3.8 million and a loss of 11.1 million", and "As with any company, we continue to need capital.", not only would
HE be fired, the person who hired him would be fired as well because BOTH will have demonstrated they are grossly incompetent and obviously not qualified to hold the positions they do. "We must be doing something right"? Oh HELL no! WAY wrong answer, slick! You better be able to say EXACTLY what is right AND EXACTLY what is wrong and, most importantly, how you plan to fix it! "Year over year, we've been improving" but since 2011 we've lost $30 million? That's like saying "well, we lost a little bit on this one but we plan to make up for it in volume." If it's my money you're losing, why would I want you to sell more? The more you sell, the more you're going to lose, DA! Sounds like old Steve needs to just call it a day. This makes me pure sick to my stomach.
