Keisler is gone! Chapter 7
Thread Starter
Burning Brakes
Joined: Feb 2011
Posts: 850
Likes: 12
From: Shakopee MN
Keisler is gone! Chapter 7
Wow, I was so damn close to ordering my SS700. I had my wife's okay, had shown my vette buds the RS and SS700 product info, all I had to do was order. But I knew there were supply problems and didn't like the thought of putting money down with delivery probably close to a year, so I was reluctant to actually pick up the phone. And now I just saw this on the Keisler Facebook page:
The Legend Gear and Transmission Facebook page said this:
Now what do I go with???
An Important Message from Shafi Keisler, Founder of Keisler Engineering.
Dear Customers, Friends and Associates of KEISLER Engineering;
On January 16 2014, I halted operations of Keisler Engineering Inc by filing it into Chapter 7 Bankruptcy. The motivation to place KE into Ch7 was a very recent decision, spurred by a run of order cancellations and refunds by concerned customers. Many of these concerned customers had spoken to our competitors that have been pouring on the negativity and rumors of KE shutting down since 2008. These are primarily two (2) competitors - one located in Cookeville TN and the other in Sacramento CA.
The order cancellations created a cash flow problem for KE, and placed new customer orders at risk. I took the initiative to refund all new order deposits going back to Thursday January 9 2014 once I realized the company was at risk of closure.
KE had a bright start to 2013, filling nearly 400 SS700 orders, along with RS, TREMEC and A41. Sales numbers overall were strong for the first half of 2013. KE's second half of 2013 was marred by supply and pricing problems at Legend Gear & Transmission and its gear manufacturing partner Abundant Manufacturing Inc in Statesville NC. AMI's own business problems stifled production of the components needed to build the LGT700 base unit. This was worsened by KE's inability to pay its 2011/2012 past due to AMI of nearly $300K, along with Legend's own inability to pay its 2013 past due to KE of nearly $100K. Then Legend implemented a tremendous price increase to KE of $900 per unit in the 3rd quarter, and changed their selling terms to require a $1000 down payment 12 weeks in advance of shipping the non-customized LGT700 base unit. And every shipment of LGT700 units or components KE received had quality problems requiring weeks of delays while LGT had to replace parts. And no Legend assembled LGT700 ever met quality standard, which required KE to disassemble and rework, causing a major slide in delivery. Every one of these factors impacted KE's financial strength and the ability to fill these sold SS700 orders. I was seeking to replace Legend/Abundant Mfg with a better supplier for 2014.
The Rallye Sport program was well on its way to becoming a brand new transmission, and completely independent of Legend. At the time of KE's closure a majority of the orders were in-process to be completed.
The TREMEC program including the TKO and T56 was the foundation of the Keisler 5-speed so widely known since I developed these kits and the market as a whole starting in the late 90s. By 2005, KE was generating close to $1 Million dollars in NET profit, which is why the competitors referenced above were so keen to do whatever it takes to grab business away from KE. By 2008, my former sales manager GF and supposed friend RH who I gifted an entire business to him to begin his new career, unknowingly began selling the CA competitor's product under my name and customers called us complaining. I confronted them and learned they were not my trusted friends. In fact they used everything I taught them in sales, marketing to get their piece of the market pie at my expense. The new status quo with them and the CA competitor was to insult KE, and this became their method of operation ever since. The greed factor with GF/RH escalated to a new level in 2010 when they hired one of our longtime salesman to slander us publically in the forums and ultimately take more than 1.4 Million in sales from us, according to his deposition in Knox Chancery Court where he was deposed during the 2012 trial Keisler Engineering vs. Gene Charsha. During this trial, which the transcripts were written, GF took the stand and attempted to convince the judge that their business was substantially different than KE and that they were not a competitor. The judge did not agree with GF and ruled in our favor. But KE was saddled with over $30K in legal costs to fight this battle. Additionally a number of vendor relationships were further compromised as GF solicited some of KE's vendors to make the same product for his business, including propriety bellhousings and driveshafts components to name a few. Returning from the 2011 PRI trade show in Orlando FL, I had to go to one of my vendor's foundry and physically remove the Keisler owned Mopar big block bellhousing tooling that GF had them run parts for him. I recorded the conversation with this unscrupulous vendor and was just shocked to see how low some people will go. Indeed, KE's pockets were ripe to be picked by our competitors.
In 2010, KE was blindsided by TREMEC Corp (a Mexico corporation with offices in Detroit area) when they suddenly terminated our Elite Distributorship Jan 17 2010 with no warning and no cure period. We less than six (6) weeks to purchase product to fill remaining orders only, could not purchase any additional inventory, and the termination was non-negotiable. In fact, this was illegal practice in Tennessee law, but in Michigan law where my Distributorship Agreement was in place, it was acceptable practice. This action was taken by Lee Davis, the Director of US Sales operations at the time. In a recorded phone call between Lee Davis and my business manager Bruce Skolfield, Davis disclosed that he was fulfilling his intentions to terminate KE - his largest distributor in the Aftermarket and one that sold more than Ford Motorsports - because of his dislike of me and that my former sales people-turned-competitors would eventually fill the loss of KE to the market. The Mexican top management in Mexico City did not really care about the Aftermarket branch because the volume was small compared to the OEM volume and they let Lee Davis and his people do whatever they wanted with the Aftermarket as long as the OEM was taken care of. Years earlier, Lee Davis, over dinner at SEMA Las Vegas in 2005 November in the presence of four others including the current Manager for Tremec Aftermarket Sales, said very clearly that he was "going to knocks the legs out from under Keisler Engineering if KE did not do business his way." This was a total shock, and for the ensuing hour I was lambasted over multiple issues ranging from Davis not liking the Keisler 5-speed name being better known than Tremec name in the classic car aftermarket. Other unfounded grievances were the Tremec logo I used on every web page representing his product should have been bigger, or higher up on the page, that he didn't like the dark background color of the my web-site. It was at that dinner that I decided to pursue the diversification of KE and to not have all of my eggs in one basket. In the May of 2006, I purchased General Motor's MUNCIE Transmission manufacturing line at a cost of 3.89 Million Dollars ($3,890,000.00) under a new company - American Gear & Transmission - and moved these assets to Tennessee to start-up a new company This move to start a new American transmission company in the wake of GM Muncie's closure sealed KE's fate of Davis' threats. When the termination of KE's Elite Distributorship when down March 1 2010, within a few days the manager of Tremec Aftermarket Sales issued a letter to all 150+ distributors of Tremec mandating them not to sell to KE at any price - even full retail - or their distributorship would be TERMINATED. A second letter was sent out to the same effect and I have both of these letters. I sought legal advise about this, and learned what Tremec Aftermarket Sales was doing appeared to be "Boycotting" which is a Federal Trade law violation carrying very stiff penalties and triple damages to the offended party. But I would have to file suit in Federal Court in Michigan and the case would be expensive and lengthy because of the way Federal lawsuits are processed. At that point in time, I decided to focus on survival of KE and not pursue the lawsuit at that time. Within a couple months, I led formation of Legend Gear & Transmission with the owners of Abundant Mfg. and brought them the transmission design and marketing which is now known as the LGT700 and the Legend Gear & Transmission company. KE found a work-around for the Tremec's boycotting, and product continued to flow from several several distributors that were wise to Federal trade laws. Even though Tremec implemented a "secret shopper" scheme in 2010/2011 in efforts to stop this American Entrepreur's small business, I continued to press on. I kept all of this under my hat, all the while my competitors were bragging to our customers that Tremec did this. I have tried to take "the high road" through the years and always do what is right for the customer, the employees vendors ahead of my personal needs. Accordingly, in the months before closure of KE, I had not drawn a salary or income from the company. My wife and I downsized in a major way, putting the home and farm we built for sale and moving to a small rental home.
The process of building KE from a garage operations in 1991 to a company that has sold more than $65 Million Dollars of product to over 16,000 customers has not been an easy one, but it has been a rewarding one. It is my hope and expectation that buyers for the remaining assets of KE will purchase these and put the assets back to work in new companies. In fact, I sold the Keisler PerfectFit kit & manufacturing assets for Tremec TKO & T56 to Liberty Gears - a Tremec Elite Distributor in Taylor Michigan. Liberty Gears - a family run business - has been around since the 1960s and has tremendous capabilities that complement what KE was doing for the market. By adding the highly engineered Keisler TKO and T56 kits to Liberty's existing capabilities for internal upgrades, the resulting product line further places Liberty in a class of their own. I plan to support Liberty Gears in their pursuits to offer the very best Tremec TKO & T56 kits to the market. In my efforts going forward, I intend to work with the Trustee of Keisler Engineering for the benefit of every creditor of Keisler Engineering - both its customers and vendors - that had open balances. This process will take time and patience on everyone's behalf. I ask for your support and patience while the Trustee and I work thru the Chapter 7 process. I understand the frustration that those of you with standing orders or supplier accounts with KE will have, and I am sorry that you must endure this. But please work with us and brighter days will be ahead.
Sincerely,
Shafi Keisler, Founder, President & CEO thru Jan 15 2014
Keisler Engineering, Inc.
Dear Customers, Friends and Associates of KEISLER Engineering;
On January 16 2014, I halted operations of Keisler Engineering Inc by filing it into Chapter 7 Bankruptcy. The motivation to place KE into Ch7 was a very recent decision, spurred by a run of order cancellations and refunds by concerned customers. Many of these concerned customers had spoken to our competitors that have been pouring on the negativity and rumors of KE shutting down since 2008. These are primarily two (2) competitors - one located in Cookeville TN and the other in Sacramento CA.
The order cancellations created a cash flow problem for KE, and placed new customer orders at risk. I took the initiative to refund all new order deposits going back to Thursday January 9 2014 once I realized the company was at risk of closure.
KE had a bright start to 2013, filling nearly 400 SS700 orders, along with RS, TREMEC and A41. Sales numbers overall were strong for the first half of 2013. KE's second half of 2013 was marred by supply and pricing problems at Legend Gear & Transmission and its gear manufacturing partner Abundant Manufacturing Inc in Statesville NC. AMI's own business problems stifled production of the components needed to build the LGT700 base unit. This was worsened by KE's inability to pay its 2011/2012 past due to AMI of nearly $300K, along with Legend's own inability to pay its 2013 past due to KE of nearly $100K. Then Legend implemented a tremendous price increase to KE of $900 per unit in the 3rd quarter, and changed their selling terms to require a $1000 down payment 12 weeks in advance of shipping the non-customized LGT700 base unit. And every shipment of LGT700 units or components KE received had quality problems requiring weeks of delays while LGT had to replace parts. And no Legend assembled LGT700 ever met quality standard, which required KE to disassemble and rework, causing a major slide in delivery. Every one of these factors impacted KE's financial strength and the ability to fill these sold SS700 orders. I was seeking to replace Legend/Abundant Mfg with a better supplier for 2014.
The Rallye Sport program was well on its way to becoming a brand new transmission, and completely independent of Legend. At the time of KE's closure a majority of the orders were in-process to be completed.
The TREMEC program including the TKO and T56 was the foundation of the Keisler 5-speed so widely known since I developed these kits and the market as a whole starting in the late 90s. By 2005, KE was generating close to $1 Million dollars in NET profit, which is why the competitors referenced above were so keen to do whatever it takes to grab business away from KE. By 2008, my former sales manager GF and supposed friend RH who I gifted an entire business to him to begin his new career, unknowingly began selling the CA competitor's product under my name and customers called us complaining. I confronted them and learned they were not my trusted friends. In fact they used everything I taught them in sales, marketing to get their piece of the market pie at my expense. The new status quo with them and the CA competitor was to insult KE, and this became their method of operation ever since. The greed factor with GF/RH escalated to a new level in 2010 when they hired one of our longtime salesman to slander us publically in the forums and ultimately take more than 1.4 Million in sales from us, according to his deposition in Knox Chancery Court where he was deposed during the 2012 trial Keisler Engineering vs. Gene Charsha. During this trial, which the transcripts were written, GF took the stand and attempted to convince the judge that their business was substantially different than KE and that they were not a competitor. The judge did not agree with GF and ruled in our favor. But KE was saddled with over $30K in legal costs to fight this battle. Additionally a number of vendor relationships were further compromised as GF solicited some of KE's vendors to make the same product for his business, including propriety bellhousings and driveshafts components to name a few. Returning from the 2011 PRI trade show in Orlando FL, I had to go to one of my vendor's foundry and physically remove the Keisler owned Mopar big block bellhousing tooling that GF had them run parts for him. I recorded the conversation with this unscrupulous vendor and was just shocked to see how low some people will go. Indeed, KE's pockets were ripe to be picked by our competitors.
In 2010, KE was blindsided by TREMEC Corp (a Mexico corporation with offices in Detroit area) when they suddenly terminated our Elite Distributorship Jan 17 2010 with no warning and no cure period. We less than six (6) weeks to purchase product to fill remaining orders only, could not purchase any additional inventory, and the termination was non-negotiable. In fact, this was illegal practice in Tennessee law, but in Michigan law where my Distributorship Agreement was in place, it was acceptable practice. This action was taken by Lee Davis, the Director of US Sales operations at the time. In a recorded phone call between Lee Davis and my business manager Bruce Skolfield, Davis disclosed that he was fulfilling his intentions to terminate KE - his largest distributor in the Aftermarket and one that sold more than Ford Motorsports - because of his dislike of me and that my former sales people-turned-competitors would eventually fill the loss of KE to the market. The Mexican top management in Mexico City did not really care about the Aftermarket branch because the volume was small compared to the OEM volume and they let Lee Davis and his people do whatever they wanted with the Aftermarket as long as the OEM was taken care of. Years earlier, Lee Davis, over dinner at SEMA Las Vegas in 2005 November in the presence of four others including the current Manager for Tremec Aftermarket Sales, said very clearly that he was "going to knocks the legs out from under Keisler Engineering if KE did not do business his way." This was a total shock, and for the ensuing hour I was lambasted over multiple issues ranging from Davis not liking the Keisler 5-speed name being better known than Tremec name in the classic car aftermarket. Other unfounded grievances were the Tremec logo I used on every web page representing his product should have been bigger, or higher up on the page, that he didn't like the dark background color of the my web-site. It was at that dinner that I decided to pursue the diversification of KE and to not have all of my eggs in one basket. In the May of 2006, I purchased General Motor's MUNCIE Transmission manufacturing line at a cost of 3.89 Million Dollars ($3,890,000.00) under a new company - American Gear & Transmission - and moved these assets to Tennessee to start-up a new company This move to start a new American transmission company in the wake of GM Muncie's closure sealed KE's fate of Davis' threats. When the termination of KE's Elite Distributorship when down March 1 2010, within a few days the manager of Tremec Aftermarket Sales issued a letter to all 150+ distributors of Tremec mandating them not to sell to KE at any price - even full retail - or their distributorship would be TERMINATED. A second letter was sent out to the same effect and I have both of these letters. I sought legal advise about this, and learned what Tremec Aftermarket Sales was doing appeared to be "Boycotting" which is a Federal Trade law violation carrying very stiff penalties and triple damages to the offended party. But I would have to file suit in Federal Court in Michigan and the case would be expensive and lengthy because of the way Federal lawsuits are processed. At that point in time, I decided to focus on survival of KE and not pursue the lawsuit at that time. Within a couple months, I led formation of Legend Gear & Transmission with the owners of Abundant Mfg. and brought them the transmission design and marketing which is now known as the LGT700 and the Legend Gear & Transmission company. KE found a work-around for the Tremec's boycotting, and product continued to flow from several several distributors that were wise to Federal trade laws. Even though Tremec implemented a "secret shopper" scheme in 2010/2011 in efforts to stop this American Entrepreur's small business, I continued to press on. I kept all of this under my hat, all the while my competitors were bragging to our customers that Tremec did this. I have tried to take "the high road" through the years and always do what is right for the customer, the employees vendors ahead of my personal needs. Accordingly, in the months before closure of KE, I had not drawn a salary or income from the company. My wife and I downsized in a major way, putting the home and farm we built for sale and moving to a small rental home.
The process of building KE from a garage operations in 1991 to a company that has sold more than $65 Million Dollars of product to over 16,000 customers has not been an easy one, but it has been a rewarding one. It is my hope and expectation that buyers for the remaining assets of KE will purchase these and put the assets back to work in new companies. In fact, I sold the Keisler PerfectFit kit & manufacturing assets for Tremec TKO & T56 to Liberty Gears - a Tremec Elite Distributor in Taylor Michigan. Liberty Gears - a family run business - has been around since the 1960s and has tremendous capabilities that complement what KE was doing for the market. By adding the highly engineered Keisler TKO and T56 kits to Liberty's existing capabilities for internal upgrades, the resulting product line further places Liberty in a class of their own. I plan to support Liberty Gears in their pursuits to offer the very best Tremec TKO & T56 kits to the market. In my efforts going forward, I intend to work with the Trustee of Keisler Engineering for the benefit of every creditor of Keisler Engineering - both its customers and vendors - that had open balances. This process will take time and patience on everyone's behalf. I ask for your support and patience while the Trustee and I work thru the Chapter 7 process. I understand the frustration that those of you with standing orders or supplier accounts with KE will have, and I am sorry that you must endure this. But please work with us and brighter days will be ahead.
Sincerely,
Shafi Keisler, Founder, President & CEO thru Jan 15 2014
Keisler Engineering, Inc.
The Legend Gear and Transmission Facebook page said this:
Legend Gear and Transmission would like to say thank you to all that have called, emailed, & posted in the last few days. I know there are many concerns about LGT's status and ability to continue producing transmissions and driveline components after the recent posts of Keisler's decision to file Chapter 7. Let me first say that LGT and sister company Abundant Mfg., Inc are here to support those that have purchased LGT transmissions, Axles, Shifters, or other driveline components. LGT along with Jeff and Sue Spraker of Spraker Racing are working closely together as we create a distribution network such as Spraker Racing that have the same passion, integrity, and values that we feel are representative of Legend Gear and Transmission. LGT will be announcing a 2nd distributor next week as we team up with another qualified transmission company that can offer additional services and products that will enhance the value of our LGT 700 transmission. We have developed a strong and supportive supply chain for our products and we are very appreciative of the efforts by all to get this LGT-700 to market. I look forward to your feedback and pictures of the projects you've allowed us to participate in. It is your feedback that allows us to continually improve and meet the demands and challenges of this ever-changing market we serve. If you find yourself in the Statesville, NC area please stop and visit us. Please visit our website www.LegendGT.com for contact & distributor information. Jack Simms (VP of LegendGT Operations) along with myself are available to answer any questions you might have.
Kevin Smith
President
Legend Gear & Transmission
(W) 704-495-3406
Kevin Smith
President
Legend Gear & Transmission
(W) 704-495-3406
Now what do I go with???
Melting Slicks
Joined: May 2006
Posts: 3,303
Likes: 14
From: Lynn MA
wow, my friend thankfully got all he needs for his 91 trans am t56 swap...I have a custom scattershield that we fabricated from a Lakewood 15000 shield, in my 67 Camaro with a ZF 6 speed box from a ZR1. I guess we have to get back to old fashioned hot rodding, making the stuff ourselves, have stuff machined at local shops...however I am sure someone will step in. Mike Forte (even though he is not someone most will want on their Christmas Card list) likely has what people will need. Forte's Parts Connection, not sure where in Boston they are now.
Le Mans Master
Joined: Oct 2002
Posts: 5,714
Likes: 6
From: Silver City NM
St. Jude Donor '05-'07
Geez...that letter makes an odd and interesting read. I detect a large amount of sour grapes in it. Seems like Shafi Keisler had some personnel as well as personal problems with employees as well as suppliers. Welcome to the REAL business world. Plus the economic situation has hit a lot of small businesses hard. I would not be surprised to see a lot of these closures in the near future.
5th Gear
Joined: Sep 2009
Posts: 5
Likes: 0
Your one of the lucky ones
I recently purchased a transmission setup from Keisler and luckily I only lost the drive shaft they still owed me. I had been calling and emailing them for 8 days only to find out about the bankruptcy today. Shafi Keisler is a worm who is now hiding behind the bankruptcy laws to protect him from going to jail for stealing from customers. I went on his Facebook page and he keeps deleting the negative comments customers are posting. Hes actually taking the time to monitor FB...what a tool. I am personally going to every site I can find and posting what he did to me. I may have lost my money but his reputation is going to take a blow if I can help it. Now whenever he looks a some one hes going to wonder if they know how he ripped people off...don't feel sorry for him,,,feel sorry for all the customers hes screwing...
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Melting Slicks
Joined: Aug 2010
Posts: 2,207
Likes: 26
From: Ocean County NJ
Definitely no winners in this sad, tragic debacle. Is there another vendor that overs 5 & 6 speed O/D transmissions for C3's? Are they better vendors in terms of stability, reputation and quality products and customer service? Feel bad for my Corvette brothers and hope there's an upside for those that got sunk by Keisler.
Le Mans Master
Joined: Oct 2002
Posts: 5,714
Likes: 6
From: Silver City NM
St. Jude Donor '05-'07
Looks like folks are gonna be going back to "old school" with Muncie M20-22 and Borg Warner Super T-10 four speeds. That was/is the ongoing plan for my Vette anyway. 
Team Owner
Joined: Jul 1999
Posts: 65,492
Likes: 230
From: Orange Park Florida
OK, True, I been working on cars for some almost 60 years now....
pushing 70 y/o now....not getting any easier.....BUT
I own a '72 vette, put in my own DPFI in '95, wiring and all....L98 on an L48 stock engine with Muncie....
needed overdrive....got a 700 built, not suited for the car, I built a 200 4r myself....works fine, bought a 355 short roller block 4 bolt main, put on many heads, but nothing better than #113 L98 over the years.....have an LT1 intake with an HEI in back....TIG welder buddy....works fine....serp drive, electric fans, reworked suspension/wheels/tires....headers and with just 6 bolts the header/back complete exhaust system on the ground.....6 bolts...serious....
NOW, just what in hell does any KIT supplier bring to the table???
really now??? the art of Hot Rodding getting that lazy and pathetic?? no one has any sense of fabrication?? how about common sense and learn something along the way????
Rant over....
pushing 70 y/o now....not getting any easier.....BUT
I own a '72 vette, put in my own DPFI in '95, wiring and all....L98 on an L48 stock engine with Muncie....
needed overdrive....got a 700 built, not suited for the car, I built a 200 4r myself....works fine, bought a 355 short roller block 4 bolt main, put on many heads, but nothing better than #113 L98 over the years.....have an LT1 intake with an HEI in back....TIG welder buddy....works fine....serp drive, electric fans, reworked suspension/wheels/tires....headers and with just 6 bolts the header/back complete exhaust system on the ground.....6 bolts...serious....
NOW, just what in hell does any KIT supplier bring to the table???
really now??? the art of Hot Rodding getting that lazy and pathetic?? no one has any sense of fabrication?? how about common sense and learn something along the way????
Rant over....
Team Owner
Joined: Jul 1999
Posts: 65,492
Likes: 230
From: Orange Park Florida
Race Director
Joined: Dec 1999
Posts: 19,610
Likes: 778
From: Forked River NJ
Nah. Hot Rodders will always find a way to go forward. There are many vendors selling 5 and 6 speeds. I would never go back to to a Muncie. As I would never go back to carb.
Drifting
Joined: Jun 2013
Posts: 1,269
Likes: 226
From: Cocoa FL
He posted this up this morning:
Seems like a stand-up guy to me, but then again, I haven't lost any money.
Mr. Silva and Customers;
If you are listed on Schedule F, meaning you are a Creditor of KE, then this message is for you.
As my post on Facebook mentioned, LIBERTY GEAR had purchased the Assets, IP, Equipment and certain Inventory of the KEISLER PerfectFit TKO & T56 product line. LIBERTY GEAR did NOT purchase the Sales Orders; this remained with KE. LIBERTY GEAR allowed KE to draw down on this inventory to satisfy ALL OPEN ORDERS which yours Mr. Silva was part of. The unfortunate demise of KE now triggers LIBERTY GEAR to relocate the assets to their facility in Taylor Michigan, and begin production making the PerfectFit Tremec TKO & T56 kits that we developed and made in mass quantity since year 2000. Mr. Liberty himself has assured me that he will do everything possible to assist me, Shafi Keisler, in helping you the customer that is now a creditor that was affected.
The competition has no incentive to help, and they were the last people I would consider capable to help. Besides, they do not have the technical expertise to do what KE was doing.
By filing KE into the Chapter 7, this places all of the customers on equal footing for their claim and actually provides protection for customers.
Like I said in the FB post, please be patient and work with the Trustee, Mr. John Newton and myself. I AM WORKING FOR YOUR BENEFIT. I WILL HELP EVERY CUSTOMER AFFECTED. PLEASE HELP ME HELP YOU. PLEASE BE PATIENT. And please don't let the "Peanut Gallery" add to your anxiety. I encourage you to seek legal counsel to know and assert your rights.
I met with Mr. Newton, the Trustee for KE, yesterday and I am meeting with Mr. Newton again tomorrow to go into the details of what is needed for LIBERTY GEAR to get their assets back to them, and for potential buyers of the assets to place their offers on the table to the Trustee.
If you are listed on Schedule F, meaning you are a Creditor of KE, then this message is for you.
As my post on Facebook mentioned, LIBERTY GEAR had purchased the Assets, IP, Equipment and certain Inventory of the KEISLER PerfectFit TKO & T56 product line. LIBERTY GEAR did NOT purchase the Sales Orders; this remained with KE. LIBERTY GEAR allowed KE to draw down on this inventory to satisfy ALL OPEN ORDERS which yours Mr. Silva was part of. The unfortunate demise of KE now triggers LIBERTY GEAR to relocate the assets to their facility in Taylor Michigan, and begin production making the PerfectFit Tremec TKO & T56 kits that we developed and made in mass quantity since year 2000. Mr. Liberty himself has assured me that he will do everything possible to assist me, Shafi Keisler, in helping you the customer that is now a creditor that was affected.
The competition has no incentive to help, and they were the last people I would consider capable to help. Besides, they do not have the technical expertise to do what KE was doing.
By filing KE into the Chapter 7, this places all of the customers on equal footing for their claim and actually provides protection for customers.
Like I said in the FB post, please be patient and work with the Trustee, Mr. John Newton and myself. I AM WORKING FOR YOUR BENEFIT. I WILL HELP EVERY CUSTOMER AFFECTED. PLEASE HELP ME HELP YOU. PLEASE BE PATIENT. And please don't let the "Peanut Gallery" add to your anxiety. I encourage you to seek legal counsel to know and assert your rights.
I met with Mr. Newton, the Trustee for KE, yesterday and I am meeting with Mr. Newton again tomorrow to go into the details of what is needed for LIBERTY GEAR to get their assets back to them, and for potential buyers of the assets to place their offers on the table to the Trustee.
Le Mans Master
Joined: Oct 2002
Posts: 5,714
Likes: 6
From: Silver City NM
St. Jude Donor '05-'07
Yeah, your Vette is quicker than my Vette that has no brakes, no motor, no trans, and a drivers side door that won't stay shut (broken linkage I suspect). Just gimme a few more decades and I'll complete it
Gordonm: I don't see the return to Muncie-Borg Warner as a step backwards. The 4-speed has been doing quite well in NASCAR racing. And if someone REALLY wanted heavy duty, they could always get a bell housing that accepts a Ford Toploader. Those are truly unbreakable transmissions. I am actually toying with that idea myself.
As to carbs...I look forward to a nice big Holley on my engine
Race Director
Joined: Dec 1999
Posts: 19,610
Likes: 778
From: Forked River NJ
Gordonm: I don't see the return to Muncie-Borg Warner as a step backwards. The 4-speed has been doing quite well in NASCAR racing. And if someone REALLY wanted heavy duty, they could always get a bell housing that accepts a Ford Toploader. Those are truly unbreakable transmissions. I am actually toying with that idea myself.
As to carbs...I look forward to a nice big Holley on my engine
Most of the guys who drive on the street have gotten used to daily drivers with overdrive and fuel injection. So why not put it on their hot rods. They will still sell a ton of Holleys for the old school guys and nothing wrong with it at all. They have been working for years as do the 4 speeds. There will always be a call for 4 speeds and big Holleys but also for 5 and 6 and maybe more spees in the future and more and more fuel injection systems are being made.
Le Mans Master
Joined: Oct 2002
Posts: 5,714
Likes: 6
From: Silver City NM
St. Jude Donor '05-'07
I'm certainly not saying the 4 speed is dead. If Nascar rules allowed I'm sure they would go to more speeds. After all they did go to fuel injection.
Most of the guys who drive on the street have gotten used to daily drivers with overdrive and fuel injection. So why not put it on their hot rods. They will still sell a ton of Holleys for the old school guys and nothing wrong with it at all. They have been working for years as do the 4 speeds. There will always be a call for 4 speeds and big Holleys but also for 5 and 6 and maybe more spees in the future and more and more fuel injection systems are being made.
Most of the guys who drive on the street have gotten used to daily drivers with overdrive and fuel injection. So why not put it on their hot rods. They will still sell a ton of Holleys for the old school guys and nothing wrong with it at all. They have been working for years as do the 4 speeds. There will always be a call for 4 speeds and big Holleys but also for 5 and 6 and maybe more spees in the future and more and more fuel injection systems are being made.
Melting Slicks
Joined: May 2006
Posts: 3,303
Likes: 14
From: Lynn MA
I am with Mr Vette. even if one was not fully capable to do it all at home, swaps can be done...guys have been putting Hemi's with Muncies, T 5s with J2 Olds etc for years...without 'kits'
ZF box to modified Lakewood shield 1/2 inch or so cut off overall depth, entirely new face and bolt pattern, 1/8 collar welded in to make it fit correctly where trans slides into bell...etc etc, serpentine belt set up from Chevy truck, cut, modified etc
ZF box to modified Lakewood shield 1/2 inch or so cut off overall depth, entirely new face and bolt pattern, 1/8 collar welded in to make it fit correctly where trans slides into bell...etc etc, serpentine belt set up from Chevy truck, cut, modified etc
Race Director
Joined: Mar 2003
Posts: 11,608
Likes: 780
From: Eustis ( Area 51 Bat Cave ) Fl
I saw one thread on this get shut down and expect these new ones will to I can't seem to understand why there is still coddling and stroking this person/company,
I find zero excuse for taking money then if you cant deliver product then refund the $$$...the lamest excuse I saw in this mess was blaming competition for bad mouthing...hum...looks like the bad mouthing was right on target.
Le Mans Master
Joined: Oct 2002
Posts: 5,714
Likes: 6
From: Silver City NM
St. Jude Donor '05-'07
