Flood of Omniturn GT-75 up in CA. Auction Gunner

Multi screw, Ink 161 Foundation Ave La Habra, CA Date 8-23-06 Ordered sold by secured creditor!
Think that means they didn't know we don't make anything here anymore.
We just flip burgers , push papers, buy from China & sell at 200% markup, or sue people. 11 Omniturn GT-75 (1997) 19 Hyundia hit-400 gang tools C-axis (2000) Plus much more. Gunner better broker them before China gets them. The economy must be good, you can buy shops that went broke machine tools cheap.
After all it's work that "Americans don't want to do"
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Gunner wrote:

That pretty much says it all, Walter comes out smelling like a rose while everyone else left thinks they are holding a bag full of money only to later find out its a bag full of shit.
Tom
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wrote:

====================="Don't spit in the soup, we all gotta' eat" is an accurate and timely observation. Until you stop and think about it, it is not apparent how much American business runs on trust and faith. Contracts and purchase orders, no matter how detailed and even if signed by the CEO cannot be a substitute.
While it is true there is considerable historical precedent, unfortunately is appears this is rapidly accelerating problem, to the point where it has become corporate SOP to "take a bath" every few years via chapter 11 and rinse their unsecured debts, pension obligations, trouble making stockholders, etc. down the tubes into society in general, and on to the taxpayers in particular, and start the game all over again. [Airlines, K-Mart]
These debts don't just disappear; somebody has to pay, possibly by foregoing medical care, education for their children, or decent housing.
From the limited information and reading between the lines, your particular experience does not appear to be the result of a "normal" bankruptcy (as in "s**t happens"), resulting from changes in technology, market demand, or managerial incompetence, but rather a carefully conceived and well-executed "bust-out scam." As such it should not be subject to [only] the standard chapter 11/7 business termination proceedings, but should include criminal and civil RICO charges [triple damages], particularly given the apparent repeated "bad luck" of some of the principals, and the evident pre-filing preparation for rapid asset liquidation/disposal. Do the principals and secured creditors of this particular bankruptcy have a "history?"
I don't know how much money the unsecured creditors and stockholders of Enron will receive as a result, but the large banks that colluded with Enron management to set up and run that particular shell game have been hit with heavy fines and civil forfeiture. Indeed, several Brit bankers were just extradited for possible criminal prostitution in this case. Similar efforts are being made in the other high profile bust-outs such as WorldCom, Tyco, GlobalCrossing, etc. etc.
A small suggestion ----
There is a procedure in nearly all states whereby "points" for traffic citations and accidents by an individual are tracked and accumulated. I suggest the states should also track the number of civil/criminal cases filed against and lost by an individual or companies they operate and how many times they are involved in a bankruptcy as a major player.
When the point totals become excessive, their "privilege" to operate a business should be administratively suspended or revoked just as their "privilege" to operate a motor vehicle is administratively suspended or revoked. Theoretically this should be accomplished by the credit bureaus and debt rating services, but it is clear this is not working.
I see no more reason to allow an individual to engage in malicious, reckless or careless operation of a business than to allow them to engage in the malicious, reckless or careless operation of a motor vehicle on the public streets.
Unka George (George McDuffee)
...and at the end of the fight is a tombstone white with the name of the late deceased, and the epitaph drear: A Fool lies here, who tried to hustle the East.
Rudyard Kipling The Naulahka, ch. 5, heading (1892).
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Yep I had some for yearly contracts so many parts a year. They canceled them & said sue us, big company . Still have 66K of their parts in stock.

Yep, I see it in my city taxes. George I want to go back to 1960/1970'S. When Carter carburetor made the AFB's, worked nice on my blown Camaro 2 750's . Now Q-Jet (which I have on my 383) has destroyed the tooling so nobody can make them anymore. Good thing I'm old cause this ain't like it was :( I never thought I would live to see where a PO was not worth the paper it was written on !
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F. George McDuffee wrote:

The federal bankruptcy court is always looking for people taking advantge of them. They will come down hard if they find fraud or misrepentations in the filings. Conceling assets is a big one if they find out the person has done this. The big problem today is the off-shore accounts make it next to impossible to follow the money. This is what all the high rollers, dems and repubs. are doing, even the ones in congress.
John
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<snip>
wrote:

===================The New York Times presented how this administration now has its hooks into virtually every international money transfer operation as well as all domestic money traffic.
Lack of information/proof of tax evasion, money laundering and asset concealment is *NOT* the reason civil and criminal RICO cases are not being filed by the thousands. Even narcotics money laundering and tax evasion is not being prosecuted except at the lowest levels, and the asset forfeitures are more in the nature of a gross receipts tax at retail.
When the fix is in, the fix is in. Too many people in the right places have a piece of the action and are getting rich at the peoples' expense. If you define an honest politician as one that stays bought when you buy him, then these are indeed honest politicians.
Unka George (George McDuffee)
...and at the end of the fight is a tombstone white with the name of the late deceased, and the epitaph drear: A Fool lies here, who tried to hustle the East.
Rudyard Kipling The Naulahka, ch. 5, heading (1892).
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on Mon, 07 Aug 2006 05:19:15 GMT in alt.machines.cnc :

    Who was it who said that if you owe a thousand dollars, you worry; but if you owe a million, the bank worries. Or that it is the guy shy half a slug who goes hungry, the man who owes millions eats hearty? I recall reading that the Hunt brothers are still managing their company, which has been in receivership since 1982.
    Hell, I had a boss almost in tears because he had to lay me off. I could see as well as he that there wasn't any work.
    OTOH, my first job in the Seattle area was pulling twelve hour shifts right up to the day they closed the factory.
tschus pyotr
--
pyotr filipivich.
as an explaination for the decline in the US's tech edge, James
  Click to see the full signature.
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I heard that a lumberyard customer of mine was going under so I went over and loaded up a truck full of lumber worth more that what they owed me. Their lawyer called and demanded we pay our bill. It told him "Sure, come on over and get the check! Oh, and bring your own, so you can pay your bill!" He says "You can't do that, it's illegal!" I said "You're a lawyer, sue me!" Never heard from them again. Of course I think things have changed these days.
Gary H. Lucas

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