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  1. #101
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    I think the people out of work now are having a bit rougher... you'll get through it, no big deal. Bigger issues for people like their livelihood.
    True, I am sure intelligent company owners will grab the HPF staff as they were all fantastic to work with.
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    EURO 04 M3 Current Mods:GC DAs, Eibach Sways, PF RTAB's, RE RCAs, INTRAVEE II, Black Roundels, ///MFEST Badges, Depo's, Screen protector for NAV display, VCSL Bumper + Race Lip & CF Trunk & CF Rear Diffusor, DIETZ TV in Motion, SS= V1 Headers + catless pipes + X-Pipe + SS Sport Exhaust, Z8 Starter Button, Lamin-X, OEM CSL interior, OEM CSL Steering, OEM CSL Intake, OEM CSL Roof, MSS54HP + OEM CSL Tune, BBS CH's, LIGHTWERKZ, 355mm ST40 BBK, BW Oil Cooler....

  2. #102
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    Anybody waiting on parts or orders placed by credit card ought to get on the phone ASAP to their card companies and flag the charge. Depending on what your card is you may not have to pay anything. This is true even for invoices/balances you've paid off. Eg my card is like 60 days post charge to dispute something and I have been successful in getting charges reversed when something was not shipped or was seriously misrepresented.

    All this means is they look into it and for example if it clearly was never shipped and never will be they waive the charge or credit you back if you've already paid the statement it appeared on.

  3. #103
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    I have no clue who they were suing or what exactly they were in court for. I'm trying to figure it all out ill post back here if I find anything out.
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  4. #104
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    On a side note, are they going to have some kind of blowout sale cause I want some exhaust tips.
    E46 323i-rip
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    e46-m3-ripClick here to enlarge
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    e30 325i vert-current
    http://theworstdrug.com/25

  5. #105
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    Somebody on the other forum was just successful getting charges reversed on a weeks-overdue parts order via their card company, anybody else with outstanding parts orders ought to get on this immediately...

  6. #106
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    sounds like the guy that gave them his 335 is SOL and out a of money. He has all the hardware on it but it sounds like a tuning issue. He is going to contact shiv to try and get things worked out. Also I heard that the cars were all sent back but according to him it sounds like his car is still there (im not 100% on that I just know its not back in his possession)

  7. #107
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    Reminds me of John Hennessy.

    Hennessy became synonymous for Hennescrewed due to their screwing over of customers.
    HPF shall become synonymous for HorsePowerFucked due to their $#@!ing over their investors and customers

  8. #108
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    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    I don't understand who they were expecting to get money from in a court case for employee theft. Who were they suing, Insurance? something isn't making sense if their policy covered 25k that is pretty unambiguous. Plus they had to be operating in a $200k hole for 2 years, + legal fees, so what they got a bridge loan on an anticipated settlement?

    I have no experience with them but I did raise an eyebrow watching the whole e9x single turbo kit fiasco unfold. So this was going on the whole time behind the scenes? I hope all the customers with outstanding orders/deposits get treated well here.
    I found more information on E46f. They were suing the insurance company. What happened was the insurance provider changed, and in that change, they dropped their coverage from $250,000 to $25,000. Chris never saw the change, and in turn, sued the Insurance company. Low and behold, from the sounds of it, the Insurance company won and Chris only gets $25,000.
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  9. #109
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    Click here to enlarge Originally Posted by StinkyM Click here to enlarge
    I found more information on E46f. They were suing the insurance company. What happened was the insurance provider changed, and in that change, they dropped their coverage from $250,000 to $25,000. Chris never saw the change, and in turn, sued the Insurance company. Low and behold, from the sounds of it, the Insurance company won and Chris only gets $25,000.
    They didn't do it on purpose. They had no clue this was going to happen.
    E46 323i-rip
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    http://theworstdrug.com/25

  10. #110
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    Click here to enlarge Originally Posted by G0TB00ST? Click here to enlarge
    They didn't do it on purpose. They had no clue this was going to happen.
    Still not clear, though I guess that is to be expected. Seems the employee theft was discovered 2 years ago, the actual loss even farther back than that. So the hole in the cash flow was papered over by something (loan, whatever). Point is the loss was not taken/recognized until yesterday I guess. Now via some accounting magic/BK declaration they do not have to pay back whoever lent them the money to withstand the original loss. Otherwise they could not have operated til now. Someone else is getting screwed out of 200k or whatever was needed to bandage over that original loss + legal fees etc. that the anticipated award was going to cover.

  11. #111
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    Click here to enlarge Originally Posted by inlineS54B32 Click here to enlarge
    I am going to be honest about this (re: Online sales). I was ordering brake pads (just the pads - nothing else) for my M3 - and decided to order them from HPF. This was about 3-4 months back. I live in Chicago - basically, they said I needed to fax them a copy of my license to order a set of pads (total cost was like 200 bucks - in other words, nothing).

    It was very odd to me that a company like this would do something like this. I understand it's important to ensure that people are not using other people's information, but this was over the top. I had a feeling something was up at this point, and didn't have the time to fax this information over - and ordered from someone else.

    Anyone else run into this? Curious if someone was screwing with me, or if stuff like this happened all the time.

    I really liked HPF, and have always wanted an older M3 with their kit. Damn shame.
    a lot of places want to see your ID for shipping reasons. It reduces fake claims.

  12. #112
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    Let's be honest, the insurance lawsuit is a red herring.

    In managing a business, the fixed costs are key. HPFBrandon, on another forum back in 2011, quoted the facility at 21,000 sqft, 13 staff, and showed pictures of kinds of equipment and furniture throughout the shop. Each and every month, they will have costs to "keep the lights on" consisting of the facility, lets assume a bare minimum of 5 full time staff, and the equipment depreciation costs, just to name a few of the big movers.

    Let's also assume that annual rent in Portland is $12/sqft, or $1/sqft/month. Total rent each month would then $21,000. Let's also assume 5 ppl at an average annual salary of $40k. Total labor costs each month (not including ANY overhead) is $17,000. Then there's equipment depreciation and/or leasing. If we assumed HFP purchased $250k of equipment, and assumed they could get 10 yrs out it, that's a monthly depreciation charge of $2000-3000. Figure higher if they lease everything.

    So, total monthly FIXED costs before they perform any work on customer cars, or do any marketing efforts, is $40,000. That hits each and every month, not matter what, and I even think my estimates are low. This "recovering of $200k" money owed to would cover only 5 months of fixed costs which is a razor-thin margin, especially considering the $200k was actually a period cost several years ago.

  13. #113
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    The one getting screwed is the guy that invested a $#@! ton of money to keep them afloat (I don't remember his name). Apparently he got the rights to the turbo kit and all assets as a result...
    E46 323i-rip
    e46325ci- sold
    e85 z4-sold
    e46-m3-ripClick here to enlarge
    fj cruiser- sold
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    e30 325i vert-current
    http://theworstdrug.com/25

  14. #114
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    If I had to guess, the loss of J.P. was the turning point. Once they lost their engineer, they lost their ability to develop new products. They then continued to pour money into marketing a product that had declining sales. The result was HPF, through a lack of product diversification, lost market share.

  15. #115
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    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    Anybody waiting on parts or orders placed by credit card ought to get on the phone ASAP to their card companies and flag the charge. Depending on what your card is you may not have to pay anything. This is true even for invoices/balances you've paid off. Eg my card is like 60 days post charge to dispute something and I have been successful in getting charges reversed when something was not shipped or was seriously misrepresented.

    All this means is they look into it and for example if it clearly was never shipped and never will be they waive the charge or credit you back if you've already paid the statement it appeared on.
    This advice needs more visibility for any HPF customers who may have money on the line, your credit card provider will almost certainly protect you in this case.

  16. #116
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    Click here to enlarge Originally Posted by cstavaru Click here to enlarge
    One company that has my admiration on how they are moving with the market is BMS. They just buy cars with the newest engines out of the profit from the old engines tuning instead of begging for customers to bring in cars and play guinea pigs for them.
    BMS investment product line has nowhere near the complexity or investment as an E46 M3 turbo kit setup with built motor options. Piggyback versus $30k+ setup? Come on.

    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
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  17. #117
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    Click here to enlarge Originally Posted by ajsalida Click here to enlarge
    I don't understand who they were expecting to get money from in a court case for employee theft. Who were they suing, Insurance? something isn't making sense if their policy covered 25k that is pretty unambiguous. Plus they had to be operating in a $200k hole for 2 years, + legal fees, so what they got a bridge loan on an anticipated settlement?

    I have no experience with them but I did raise an eyebrow watching the whole e9x single turbo kit fiasco unfold. So this was going on the whole time behind the scenes? I hope all the customers with outstanding orders/deposits get treated well here.
    I think they were trying to get the full amount stolen from the insurance but I guess Chris missed the fine print on the new policy.

    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
    : http://www.boostaddict.com/showthrea...r-kit-for-sale

  18. #118
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    I think they were trying to get the full amount stolen from the insurance but I guess Chris missed the fine print on the new policy.
    That is correct
    Click here to enlarge



    EURO 04 M3 Current Mods:GC DAs, Eibach Sways, PF RTAB's, RE RCAs, INTRAVEE II, Black Roundels, ///MFEST Badges, Depo's, Screen protector for NAV display, VCSL Bumper + Race Lip & CF Trunk & CF Rear Diffusor, DIETZ TV in Motion, SS= V1 Headers + catless pipes + X-Pipe + SS Sport Exhaust, Z8 Starter Button, Lamin-X, OEM CSL interior, OEM CSL Steering, OEM CSL Intake, OEM CSL Roof, MSS54HP + OEM CSL Tune, BBS CH's, LIGHTWERKZ, 355mm ST40 BBK, BW Oil Cooler....

  19. #119
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    Click here to enlarge Originally Posted by Sered Click here to enlarge
    Reminds me of John Hennessy.

    Hennessy became synonymous for Hennescrewed due to their screwing over of customers.
    HPF shall become synonymous for HorsePowerFucked due to their $#@!ing over their investors and customers
    Whoa there not even remotely the same thing.

    HPF didn't try to generate money by selling off parts from customer cars or asking customers to send blank checks for Stage infinity cars that were never going to happen.

    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
    : http://www.boostaddict.com/showthrea...r-kit-for-sale

  20. #120
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    Click here to enlarge Originally Posted by G0TB00ST? Click here to enlarge
    They didn't do it on purpose. They had no clue this was going to happen.
    That's no excuse, it was ultimately his responsibility to notice this.

    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
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    Click here to enlarge Originally Posted by jbfrancis3 Click here to enlarge
    Let's be honest, the insurance lawsuit is a red herring.

    In managing a business, the fixed costs are key. HPFBrandon, on another forum back in 2011, quoted the facility at 21,000 sqft, 13 staff, and showed pictures of kinds of equipment and furniture throughout the shop. Each and every month, they will have costs to "keep the lights on" consisting of the facility, lets assume a bare minimum of 5 full time staff, and the equipment depreciation costs, just to name a few of the big movers.

    Let's also assume that annual rent in Portland is $12/sqft, or $1/sqft/month. Total rent each month would then $21,000. Let's also assume 5 ppl at an average annual salary of $40k. Total labor costs each month (not including ANY overhead) is $17,000. Then there's equipment depreciation and/or leasing. If we assumed HFP purchased $250k of equipment, and assumed they could get 10 yrs out it, that's a monthly depreciation charge of $2000-3000. Figure higher if they lease everything.

    So, total monthly FIXED costs before they perform any work on customer cars, or do any marketing efforts, is $40,000. That hits each and every month, not matter what, and I even think my estimates are low. This "recovering of $200k" money owed to would cover only 5 months of fixed costs which is a razor-thin margin, especially considering the $200k was actually a period cost several years ago.
    This makes sense which why I'm surprised a spread out 1/4 million could sink them. I mean that's not chump change but it's also not even a 1/4 of what they had to be bringing in to even be solvent.

    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
    : http://www.boostaddict.com/showthrea...r-kit-for-sale

  22. #122
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    Click here to enlarge Originally Posted by G0TB00ST? Click here to enlarge
    The one getting screwed is the guy that invested a $#@! ton of money to keep them afloat (I don't remember his name). Apparently he got the rights to the turbo kit and all assets as a result...
    May not be such a bad deal for him, we'll see.

    The shop is up for sale but who wants a shop in Portland? No offense.

    Stage 2 or 2.5 E9X M3 S65 V8 supercharger kit for sale
    : http://www.boostaddict.com/showthrea...r-kit-for-sale

  23. #123
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    I agree that's no excuse. I'm just saying this was an accident more or less hennesy not so much
    E46 323i-rip
    e46325ci- sold
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    e46-m3-ripClick here to enlarge
    fj cruiser- sold
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    e30 325i vert-current
    http://theworstdrug.com/25

  24. #124
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    This makes sense which why I'm surprised a spread out 1/4 million could sink them. I mean that's not chump change but it's also not even a 1/4 of what they had to be bringing in to even be solvent.
    It would sink them if the customers dropped off, which I'm assuming is what started to happen with the e46 m3, they should have started developing new products years ago....I also wonder if the shop/staff was to large for the decline of business, sure it may have been adequate for the "good times" during the peak of the e46 m3 sales but it seems like a lot of space and overhead for servicing one platform. I wonder how much non e46 m3 sales they had.
    Click here to enlarge
    ESS 6XX kit

  25. #125
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    Click here to enlarge Originally Posted by G0TB00ST? Click here to enlarge
    sounds like the guy that gave them his 335 is SOL and out a of money. He has all the hardware on it but it sounds like a tuning issue. He is going to contact shiv to try and get things worked out. Also I heard that the cars were all sent back but according to him it sounds like his car is still there (im not 100% on that I just know its not back in his possession)
    That guy posted on here (HPF 335) a few weeks ago asking if anybody had an "in" at COBB and if they'd maybe take a crack at tuning his car. I don't see Shiv being in a rush to tune his car since he has his own ST kit, but who knows. Best bet for him is to get the car back & wait for ProEFI to release their standalone.
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