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SVTPerformance's Chain of Restaurants
Road Side Pub
New "Saleen 351"
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<blockquote data-quote="1hot281" data-source="post: 12469052" data-attributes="member: 88586"><p>He never "sold the company to tune other cars." and he certainly didn't turn his back on the Saleen community... actually, he stepped up for the Saleen customers when his former company turned their backs on the community. </p><p></p><p>Steve brought in outside investors around 2001 to get a fresh infusion of capital. Saleen's ongoing racing efforts, and the S7 supercar program, sapped the company of resources, and Hancock Park Associates purchased a major stake in the company. </p><p></p><p>Differences of opinion between Steve and the HPA board of directors led to his stepping down as CEO in 2003/2004... after which, Saleen Inc was restructured, dropping it's "Race-team" like hierarchy, and moved toward a corporate structure more in common with a full-on automotive OEM.</p><p></p><p>The years after Steve stepped down saw a huge ramp up in production numbers, and increased models across the Saleen lineup... Saleen Inc also purchased huge facilities in Michigan, and took on assembly responsibilities for the Ford GT for Ford, and picked up the contract from Dodge for painting the Viper in their new state-of-the-art showcar quality painting facilities... In 2006, when Ford ceased production of the GT Supercar, Saleen was left with a huge assembly facility in Michigan that it no longer needed. </p><p></p><p>In 2007, Steve left the company altogether. </p><p></p><p>HPA then proceeded to run the company into the dirt, work on the upcoming Saleen S7 successor; the S5S "Raptor," and all R&D ceased in late 2008, and HPA put Saleen Inc and it's assets up for sale.</p><p></p><p>HPA liquidated the company of many of it's assets. Laying off employees in California and Michigan... selling left over parts, and production equipment... squabbles with suppliers over debts and rights to designs and production led to the destruction of molds and tooling for certain parts and body panels, including the S7 design molds. </p><p></p><p>MJ Acquisitions purchased what was left of Saleen Inc, renamed the company to Saleen Performance Vehicles (SPV), and consolidated all operations to Troy, Michigan. When MJ Acquisitions purchased Saleen Inc from HPA, they also inherited a lot of debt and a couple lawsuits. MJ quickly announced they would <strong>not</strong> be honoring any warranties on previously sold Saleen vehicles. </p><p></p><p>In this time, Steve Saleen founded SMS Supercars. Not only to continue the legacy of Saleen cars, but also expand and include pony cars from other manufacturers... something that could never have been done with the close working ties between Saleen Inc and Ford. </p><p></p><p>Steve announced SMS would step up in SPV's place and pick up warranty claims for his loyal customers. </p><p></p><p>Among other SMS cars, based on the Dodge Challenger and Chevy Camaro... SMS announced intentions to release the SMS 460. Based on the 2010 Mustang GT and utilizing new SMS S4 suspension, "SMS" branded Saleen superchargers, and new Phil Frank designed bodywork. (Phil also penned the lines for the SN95 Saleens, the Saleen S7, the new edge Saleens, and the S197 Saleens.)</p><p></p><p>SPV/MJ also announced they would produce cars. The 2010 Saleen 435S, and later the 2010 Saleen S281... utilizing leftover Saleen superchargers, carryover S197 Saleen suspension, and a new bodykit.</p><p></p><p>Steve, wanting to protect the legacy of Saleen, sued SPV/MJ for the rights to use of the "Saleen" name and logo. The lawsuit also involved, what Steve's lawyers deemed, the unlawful sale of Saleen Inc assets. HPA supposedly sold Saleen Inc to MJ Acquisitions for a price that was <em>less</em> than what Steve himself offered for the company. HPA supposedly refused to sell to Steve, essentially short changing the many creditors who HPA owned money to. Steve's legal team sought to have the sale of Saleen Inc by HPA reversed. </p><p></p><p>MJ Acquisitions then took a backseat, and RevStone Aftermarket took over SPV, announcing the 2011 Saleen S302 would be the final car produced by SPV under the name "Saleen." Saleen Performance Vehicles would be renamed RevStone Performance Vehicles, and would refocus the company on manufacturing and distribution of aftermarket performance parts.</p><p></p><p>This year, the lawsuits came to a close, and the Saleen name was returned to Steve Saleen... and is being reincorporated into the SMS Supercar family. Saleen/SMS announced they would relabel any previously sold SMS vehicles with "Saleen" decals and badging at no cost.</p></blockquote><p></p>
[QUOTE="1hot281, post: 12469052, member: 88586"] He never "sold the company to tune other cars." and he certainly didn't turn his back on the Saleen community... actually, he stepped up for the Saleen customers when his former company turned their backs on the community. Steve brought in outside investors around 2001 to get a fresh infusion of capital. Saleen's ongoing racing efforts, and the S7 supercar program, sapped the company of resources, and Hancock Park Associates purchased a major stake in the company. Differences of opinion between Steve and the HPA board of directors led to his stepping down as CEO in 2003/2004... after which, Saleen Inc was restructured, dropping it's "Race-team" like hierarchy, and moved toward a corporate structure more in common with a full-on automotive OEM. The years after Steve stepped down saw a huge ramp up in production numbers, and increased models across the Saleen lineup... Saleen Inc also purchased huge facilities in Michigan, and took on assembly responsibilities for the Ford GT for Ford, and picked up the contract from Dodge for painting the Viper in their new state-of-the-art showcar quality painting facilities... In 2006, when Ford ceased production of the GT Supercar, Saleen was left with a huge assembly facility in Michigan that it no longer needed. In 2007, Steve left the company altogether. HPA then proceeded to run the company into the dirt, work on the upcoming Saleen S7 successor; the S5S "Raptor," and all R&D ceased in late 2008, and HPA put Saleen Inc and it's assets up for sale. HPA liquidated the company of many of it's assets. Laying off employees in California and Michigan... selling left over parts, and production equipment... squabbles with suppliers over debts and rights to designs and production led to the destruction of molds and tooling for certain parts and body panels, including the S7 design molds. MJ Acquisitions purchased what was left of Saleen Inc, renamed the company to Saleen Performance Vehicles (SPV), and consolidated all operations to Troy, Michigan. When MJ Acquisitions purchased Saleen Inc from HPA, they also inherited a lot of debt and a couple lawsuits. MJ quickly announced they would [B]not[/B] be honoring any warranties on previously sold Saleen vehicles. In this time, Steve Saleen founded SMS Supercars. Not only to continue the legacy of Saleen cars, but also expand and include pony cars from other manufacturers... something that could never have been done with the close working ties between Saleen Inc and Ford. Steve announced SMS would step up in SPV's place and pick up warranty claims for his loyal customers. Among other SMS cars, based on the Dodge Challenger and Chevy Camaro... SMS announced intentions to release the SMS 460. Based on the 2010 Mustang GT and utilizing new SMS S4 suspension, "SMS" branded Saleen superchargers, and new Phil Frank designed bodywork. (Phil also penned the lines for the SN95 Saleens, the Saleen S7, the new edge Saleens, and the S197 Saleens.) SPV/MJ also announced they would produce cars. The 2010 Saleen 435S, and later the 2010 Saleen S281... utilizing leftover Saleen superchargers, carryover S197 Saleen suspension, and a new bodykit. Steve, wanting to protect the legacy of Saleen, sued SPV/MJ for the rights to use of the "Saleen" name and logo. The lawsuit also involved, what Steve's lawyers deemed, the unlawful sale of Saleen Inc assets. HPA supposedly sold Saleen Inc to MJ Acquisitions for a price that was [I]less[/I] than what Steve himself offered for the company. HPA supposedly refused to sell to Steve, essentially short changing the many creditors who HPA owned money to. Steve's legal team sought to have the sale of Saleen Inc by HPA reversed. MJ Acquisitions then took a backseat, and RevStone Aftermarket took over SPV, announcing the 2011 Saleen S302 would be the final car produced by SPV under the name "Saleen." Saleen Performance Vehicles would be renamed RevStone Performance Vehicles, and would refocus the company on manufacturing and distribution of aftermarket performance parts. This year, the lawsuits came to a close, and the Saleen name was returned to Steve Saleen... and is being reincorporated into the SMS Supercar family. Saleen/SMS announced they would relabel any previously sold SMS vehicles with "Saleen" decals and badging at no cost. [/QUOTE]
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SVTPerformance's Chain of Restaurants
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