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Discussion in '1965-1970 Shelby Mustang GT350 & GT500' started by mherman2, Mar 2, 2008.

  1. mherman2

    mherman2 Well-Known Member

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    don't get me wrong, I think SL offer to badge these is great. 3-4 years ago when most of these cars were sold, $100k was a bargain based on auction and online sale prices, very easy to rationalize. These are not dumb business people who got taken.

    Shelby was initially supplying the engines. My point was that Unique got away with too much bs before any serious threats or consequences came down.

    Financially for some people this was there one dream, to have one these cars. Their life's savings went into it. There are those buyers who just loved these cars like we love the originals, that's what makes this market tick, buyers of all types.

    Shelby can afford to make this right for the limited number of people who did get NO car, zero, nada. Paid $100k and up. In no way are they obligated but financially, it's rounding error over a short period of time to get those cars done.
     
  2. Charley

    Charley Well-Known Member

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    I think what MHerman is saying is that he based his purchase on Shelby's endorsment of this product. Shelby was saying what great guys these were and urging people to buy the product. They trusted Shelby's endorsement. If I were ripped off by this bunch I would be after Shelby also.
     
  3. tesgt350

    tesgt350 Well-Known Member

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    I am in my own little World
    I'm sorry but, it still just blows my mind how anyone (with or without Money) would pay such a High Deposit Months or even more then a Year for anything. Yes, even a Shelby. That is a HUGE risk where anything could happen. That would be like calling a Stock Broker, giving him (or Her) $100K today and telling him (or Her) to wait 6 Months before Buying $100K worth of A stock that you heard about Yesterday. Today it could be worth $10.00 but 6 Months from it could be worth $200.00. If UP did not offer to put the Money in an Escro (sp) Account until they were ready to start building your Car, I would not have done it. maybe it is because I make less the $30K a year but That is just way to much Money to hand over as a Deposit. CS did not take the Money, UP did. Sue the Heck out of UP and their Board of Directors/Officers. I hear that one of them has a Nice Big House and lots of Nice Cars. Maybe we can set a "Sue UP" Fund to help the people who lost thier Deposits go after the UP Brass.
     
  4. mherman2

    mherman2 Well-Known Member

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    Dave,

    It was a well organized scam. I was a financial advisor and now a technology executive, this is not my first financial rodeo. I fell for the "give us the money upfront and we will put you in front of the line and you will have your car in 6 months". Almost all the guys I know fell for the same thing. We were all in front of the line according to UP. I honestly believe that after a while they were just taking deposits with no intention of building the cars. They sent pictures to people of what they said was there car but in reality it was a picture from a year before of someone else's car.

    As for Shelby, I am not suing them or going after them etc.. As whether or not UP ever paid them licensing fees will be determined in court and that's something I really don't care about. What happened, happened and that's for someone else to worry about.

    I actual have an open dialogue with SL and they have been great about this. I only want to see them take the final step and actually complete the cars for those who either paid in full or help those who paid in partial. Having us spend another $100k and then having them approve it with a Shelby #, doesn't work. For them to finish these cars would not set them back and it would go a long way in the business arena with not only the guys who got burned but for their new products as well. I would buy a 2008KR or some of the other new stuff but I just can't with what's happened.

    Think of the great PR Shelby could generate "Shelby steps in and helps the buyers scammed in the UP scandal". People would be cheering, not just me but people thinking about buying Shelby's new products. I saw them as a safety net when I made this decision, they have helped but they can do more.
     
  5. mherman2

    mherman2 Well-Known Member

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    Charley, you are always well spoken, short, and to the point.

    As you mention, the only reason I along with others did buy these cars is because of Shelby's involvement not because UP was building them. It was because Shelby stood behind them, endorsed them, licensed them, and supplied parts initially as well. The prices were climbing, they looked like a fun toy, an investment, and a hobby all in one. Now I got a shell in a wherehouse in Dallas, sweet.:thumbsup:
     
  6. Bob Gaines

    Bob Gaines Well-Known Member

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    I wouldn't be surprised if there is concern that if they try and help those that lost the most that it would set a precedent for them taking on all of the debts owed by UN. Also it would be somewhat unfair to decide that one was more deserving then another. Just something to consider.
     
  7. waXology

    waXology Member

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  8. Coralsnake

    Coralsnake Well-Known Member

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    It's a terrible deal on all ends....it's bad for Carroll, bad for UP, bad for the owners.

    I don't see CS finishing off the cars. Maybe Carroll could whip up a special -limited edition 2009 Shelby and give them to the customers as compensation?

    He seems to be pretty good at that!

    I realize it would not begin to compensate some, but it would be a monumental gesture.

    :evo:
     

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