Well Andy this sucks. Love my transmission.



https://www.facebook.com/pages/Keisler-Engineering/224383866884

yea... its being discussed in OT... I am bummed...

You were right about lots of jerks at Corvette Forum. \

corvette Guru rocks


Quote:


Originally Posted by Keisler Automotive View Post

AJ123,

Please do not be too concerned. Liberty Gear can service the RS easily. And I am also working to increase this support network.

Thank you for your reassurance.
My whole point about the product I bought from you replaced my DN4t3 transmission. I spent more money keeping it going then I paid for the transmission I purchased from you TKO 600 . Andy from Corvette Guru was one of the people that explained the differenced of all the replacement transmissions. Before I put the 383 stroker super ram I was getting almost 30 mpg with the TKO 600. I have finished the complete install and am waiting to take a trip to see what I get. Testing day is coming up at Famosa Drag strip I will see how everything meshes. No one as I can see is complain about a bad product.

As I told others that were dumping on me what accurately happened will come out. Thanks Shafie for coming on this site to at least try to calm the situation that was getting out of control

When APGENE went after me I could smell something. It wasn't exhaust gas



Quote:


Originally Posted by noonie View Post

Ya, I'm sure he would be more than happy to post his company and personal asset disclosure.

Like I said, the people screaming the loudest are those that didn't lose any money. If you have anything to contradict Shafi's statement then post it, otherwise its just idle speculation on your part. I have no doubt if it was a lie that he'd sold his house to pay for the business Apgene or someone else would have posted the proof that he hadn't.



Quote:


Originally Posted by Keisler Automotive View Post

AJ123,

Please do not be too concerned. Liberty Gear can service the RS easily. And I am also working to increase this support network.


Well, I'm glad to hear that, I'm less concerned about losing my warranty than I am about not being able to get my RS400 repaired down the road if need be. For me the worst of this is the superior product isn't going to be available anymore and those with an inferior product succeed and profit from their dishonesty






Quote:


Originally Posted by Priya View Post

I'm sorry for those that lost money but can we have a little objectivity and honesty here? I read Keisler's facebook post too and its obvious to me there was crooked competitors that contributed to Keisler going out of business (if they weren't solely responsible for it) and there was nothing Keisler could do about its suppliers being unable to meet their demand for products. Keisler intended to provide people with a product for their money but were unable to make that happen and not for a lack of trying - that's not "the exact same way" Madoff did business. The people that are screaming the loudest about this aren't the one's that lost money(apgene, etc.). Shafi Keisler didn't make money off of this venture, he'd stopped taking a salary and had to sell his home to try and make a go of it. The only winners here are the dishonest business people that couldn't sell their products based on its merits and so told lies about their competitors like "Keisler doesn't do anything to the used transmission cores they get in, they just sell them to their customers as is."(American Powertrain)


Priya,

You are spot on about the competitors. In fact, the one you mention above (AP) has their agent on this thread - APGENE. This person, Gene Charsha, was genuinely dishonest and we had to sue him in Knox County Chancery Court in 2012 ... and won. In his deposition under oath, he revealed a number of things about working for the competition AP, including that he took 1.4 Million dollars of orders. I will be releasing the full transcript of the trial in a blog and make people aware of the truly crooked acts and loathsome people involved in selling these transmissions. Their mode of operation is all about getting the sale, getting the buck and screwing the other guy. There is no shame in what they do or how they do it. In fact, this scum bag Charsha attacked me on the highway last Thursday morning, trying to ram my truck at 60mph on Pellissippi Parkway. He was a total lunatic - all over the road putting many other people at risk of getting hurt and had traffic slowed down to 10mph at one time, along with slamming brakes in front of me trying to cause an accident. 911 got calls, and I got it on video and the Alcoa Police are informed and I will be filing charges shortly and will make this public as well for people to know more about Charsha. These are the people AP employ ... and this is how they do business.

Regarding KE, as the President and CEO it is my responsibility for the company, the customers and vendors, the employees. There was absolutely NO intent to fraud or take from customers. As my statement mentioned, the decision to cease operations was made within just days. In fact, I had just brought in a very large amount of capital in the form of cash and nearly 100 transmissions to the company from Liberty Gears just a little over a month prior. KE had shipped over 1000 transmissions in 2013.

I had a very good meeting with the Trustee for KE's case today and he has indicated we will work swiftly together for the benefit of the creditors and finding the right buyer for the large number of assets at KE.
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Before you believe anything Apgene said read the Keisler facebook post and see what kind of stunts Apgene pulled. Shafi Keisler wasn't taking a salary for some time and sold his house to keep the business going, he didn't profit from anyone losing their money

I will have to find this one...

And yes, CF has it's share of jerks...

sad to say...

http://forums.corvetteforum.com/c3-te ... isler-rs-500-600-a-6.html

The show is right here.

I would rather listen to Tommy

Or be razed about living close to Summit Racing and not having to pay shipping

Boy this is a Tame web site. Nice to be a member

omg... that's a mess... stupid is as stupid does.

Quote:
Liked your response on CF

They make this forum look like the best around.

Woo don't take that the wrong way.

It is ok here to say Steve are you taking the right medication.

lol

they are like pit bulls... no grace, no elegance, just bared fangs and no sense of boundaries...

thank you for the kind words. I prefer to treat people like adults until they prove otherwise...

Wow he even insulted you.
I feel so much better now.



Quote:


Originally Posted by bogus View Post

the biggest problem with arguing with idiots is that you have to stoop to their level to prove them wrong... and who ultimately wins at that game?

Judging from the myopia and sheer stupidity in this thread, I am not surprised TKO was forced out of business.

Uhmmmm thats Keisler not TKO TKO is model of transmission that Tremec sells Stupidity?
gac7773 is offline Report Post




Gene Charsha is gac7773 the ex employee of both companies

How do you spell Debockel



Originally Posted by Keisler Automotive View Post

Les,

If the poster was a rational, honest or decent person I would address it, but this poster is not. In fact it is the same filthy scum that I referenced above and in the case Keisler Engineering vs. Gene Charsha whereby the court granted relief to KE for Charsha's loathsome behavior while employed for AP - American Powertrain. The records will be made public soon and you be the judge.

No one stole anything. The company came to a halt for the reasons mentioned. Now the Trustee and I are working to find the buyer to put the assets back to work

yea... they just love to pick fights... I am not going to stoop to their level.

Sad I agree

Glad I didn't read all of that on C3.

Also glad I never go on C4, 5 & 6 forums there.

One thing that bugs me on this whole thing:

IF this is truthful,

They called me last week for approval to charge another $4000 to insure a slot in their suppliers production schedule. Luckily I refused and advised my card not to accept additional charges.

Than I discount what Keisler is saying.

I also don't believe what the others are saying but......

somewhere in there, the truth is hiding...

There is a purposal to sell This is addressed to me

Check it out

Proposal for New Company Co-Operative Ownership by the Customers, Vendors & Management



Today I presented to Trustee John Newton a concept to gather buyers for the entire Keisler Engineering Operation Assets. He was agreeable for me to pitch this to you with the understanding that THIS BUYER GROUP APPROACH IS STRICTLY A PRIVATE TRANSACTION AND NOT AFFILIATED WITH THE TRUSTEE OR THE BANKRUPTCY PROTECTIONS PROVIDED TO CREDITORS. So here is the concept for your consideration:



A new Limited Liability Corporation company is formed with the sole purpose to purchase, own and operate the entire Keisler Engineering operation. Mission is to provide the performance aftermarket with class leading 5 & 6-Speed transmissions. Included in this mission is to fulfill the outstanding open orders of ALL Customer Creditors over a period of time, or a cash settlement over time for ALL Customers Creditors of Keisler Engineering Inc. Cancelled orders and refunds are not part of the outstanding open orders. At the time of closure, the cost for KE Inc to complete ALL Customer Creditor open orders including backorders, was approximately $476,399 for materials plus the direct labor and overhead to assemble, test, pack and ship.



To make this work, the new LLC shall be formed with Stock Shares types as defined below. Money to purchase the KE Operation Assets shall be raised from a portion of the sale of Preferred type Stock Shares. Monies raised shall be kept in an Escrow Account and not released until the court approves purchase of KE Operation Assets by the new LLC. The purchase amount for KE Operation Assets is unknown but must be the highest offer submitted to Trustee John Newton. There is no guarantee the new LLC would be able to make the highest offer; any other potential buyer group may ultimately outbid the new LLC group which would result in the escrowed funds being returned to every purchaser of Preferred type Stock Shares.



Assuming the new LLC can make the highest offer and purchase the assets, the funds from Escrow will be released into the new LLC, and the purchase will be made, and at some point shortly thereafter Creditors of KE Inc will receive their distribution of this money pro-rata.



The first order of business for the new LLC is to create the cash flow projections and determine how much additional working capital, if any, will be required. Additional working capital may come from the sale of more Preferred Stock Shares (best way, no debt), or a working line of capital from a bank loan or private lending source. Once the required amount of working capital is funded, execution of start up shall begin. From my experience, the new LLC can be started up with a minimum of full time personnel - just myself (Shafi Keisler), one (1) straight commission technical salesman, one (1) customer service/shipping and two (2) production associates. The remainder of staffing (additional production plus financial, purchasing, engineering) would be part time contractors until the sales and work load requires full time support.



The Product Line would be streamlined into the following:

PerfectFit Tremec TKO & T56 transmissions enhanced by Liberty Gear for superior shift quality of Keisler's previous Tremec offering. Liberty Gear is a Tremec Elite Distributor and they invested several hundred thousand dollars in 2013 to purchase the Keisler PerfectFit designs, inventory and equipment in an effort to maintain supply of the product to the market. Craig Liberty, the owner, has offered to DONATE all of his inventory at KE to the new LLC and allow all of the equipment he purchased to remain in place as his further Good Will to help all of us affect a start up under my leadership.

Rallye Sport, Super Sport - these current product lines will run until the tool up of the brand new replacement 5 & 6-Speed versions in-process are complete and into production. My chief engineer at KE, Dick McCord, and I have completed the all new SS 5-speed design (not to be confused with Legend Gear & Transmission LGT-700; not the same product). And the SS 6-speed version needs approximately 6 months of preparation to complete design and validation testing. These new designs take the current RS & SS technology to the next level for features, fit and torque capacity. The best gear manufacturer I have experience with resides in Detroit, and they have offered to tool up the entire gearset for the 5 & 6-speed product lines and hold the inventory at their expense. This is a tremendous offering from this supplier, who has a near perfect performance record for quality and delivery AND whose price is less than any other US manufacturer I have used to date. Already, they have hundreds of gears on the shelf for this product line.

All the Accessories - from Hydraulic Clutch Kits, to Pedals, Shifter Handles, Knobs and much more. These proven accessories complement the transmission kit, and provide a bottom line profit and value that is unmatched in the industry.

Ownership in the new LLC will be represented by Stock Shares of three types:



1) Preferred type stock shares - purchased with new money and may be privately traded with few restrictions. The price is $1 (one US dollar) per share.
2) Customer Creditor type stock shares - non-traded shares that represent the final claim amount, less final distributions by the Trustee. As the new LLC fills the open orders of Customer Creditor or provides a cash settlement, the Customer Creditor Stock Shares are converted to Management Stock Shares until there is no remaining Customer Creditor Stock Shares. It is the goal of Management to fill all the open orders as soon as possible, and thereby increasing its ownership share in the company.
3) Management type stock shares - non-traded shares representing Shafi Keisler and company management. This would be established at a minority share position of to be determined. The Preferred Stock Share Holders and Customer Creditor Stock Share Holders in total would be the Majority Owners of the new LLC at the time of start-up.




A board of directors would be set up to provide oversight to the company. These would be selected from members of each Stock Share type - Preferred, Creditor and Management.



VALUATION of the new LLC

All monies raised thru sale of Preferred Stock Shares prior to operation start-up will determine the value of the new company. For example, if a total of 600,000 shares of Preferred Stock in new LLC are sold at $1 per share, for a total of $600,000, then the initial value of the company is $600,000.



PURCHASE of Preferred Stock Shares of the new LLC

The minimum level of investment for Customers is no less than three thousand dollars ($3000.00) for three thousand shares (3,000 shares). The minimum level of investment for Vendors is five thousand dollars ($5,000.00) for five thousand shares (5,000 shares).



SUMMARY

This new LLC company has the ability to start up quickly and build proven product by proven people but with much better management, financial stability and customer service. New sales will build profitability, of which a portion will be used to fill open customer orders of KE Inc at the time of its closing Jan 15.

The historical proven Cost of Goods including direct labor is approximately 60% which leaves a Gross Margin of approximately 40%. Sales would be approximately $4 million dollars or more in the first (1st) year, growing to $8 million dollars or more by the third (3rd) year. These sales projections are speculative estimates which match the actual sales revenues of KE Inc from 2007-2013. Given the fact that no other company has the highly engineered product line, brand recognition, customer base or supplier base, this new LLC could and should out perform Keisler Engineering Inc in every way, for any historical sales year - even the high mark when net profits were close to 1 Million dollars.



Please contact Shafi Keisler by email HERE (NewcoKeisler@gmail.com) if you wish to consider participation in the new go forward business opportunity. Numerous details will be cannot be covered in this announcement, and I am certain you will have questions.



Let's try to make this happen ... together!



Best Regards,



Shafi Keisler


http://campaign.r20.constantcontact.c ... 6Qb7FBJbDQ1vzKW3hBg%3D%3D

I like it. Why? Because the first person to get paid in a bankruptcy is the lawyers... then the creditors and finally, the customers.

In this case, the customers win, in a big way!

Quote:

I wrote him back and told him I was interested in investing. I have a few dollars to spend on potential . Life is a gamble.
We will see what happens soon.

there ya go!

I could see TKO going mainstream and supplying OEM manufacturers...

Interesting at the least

Let you know more as I find out

Cf shut down the prior chat on KE

Quote:

Check C2, but it's as full of shit as the C3 thread,

Quote:

Well I guess I know why I just rarely visit over there. They are lovers of rumors.

and they love to flame the fire... a bunch of conspiracy theorist, if you ask me.

There's only one good section there - RoadRacing.

Very few asshats there.

What's even worse than the flaming in the other sections is the amount of misinformation.

Quote:

I take most of the stuff there with a grain of salt. Why people want to give out misinformation is beyond me. Do they think it makes people look up to then. Don't really care.

We are so lucky to have a forum that doesn't pull this kind of crap. They bitched at the moderator later.

I am luck you guys put up with me


Vettebuyer5869

Moderator

1963 Chevrolet Corvette
My Garage
Vettebuyer5869's Avatar
My Corvette Photos
Member Since: Jul 2000
Location: About 1100 miles from home. (The World Champs)



Quote:


Originally Posted by TC233 View Post

Perhaps this forum will now stop suspending or deleting posts from members that have a disagreement with a vendor. Shafti threatened to get members suspended if they kept ragging on him, he stated he had successfully done it before?

Perhaps thats why people were not willing to speak up as loud and warn other forum members If nothing else this forum has some responsibility to ensure free speech is not snuffed or discouraged because you may lose a paying sponsor.

The forum does not suspend or delete posts from a vendor any more than they ask that people follow the rules as with any other member. The rules about complaints and interfering with for sale threads are clearly stated in the Guidelines.

As in all cases, conflicts resulting from purchases etc belong in the Transactions Feedback section where everyone can read them, even after they are closed. The idea that forum members were "snuffed' is simply at odds with the constant threads about Keisler that were moved and maintained within the Transactions feedback section. The only reason they were closed were that, as the rules state, the issues were addressed by both sides and further posts were simply repeated complaints or venting. It does not keep members from reading them, nor does it discourage people's comments.

The continued closing of Keisler threads here and around the forum will be because they are repeated and its not productive to have several open threads in each forum making the same complaints in each.

And in answer to your question, I am not familiar with members being suspended for this.
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Unread Today, 12:48 PM

It has happened in the past. Back in the day, CF practiced the worst kind of protectionism, any complaint against any vendor resulted in banning or vacation.

Period.

They were harsh... and that taste still lingers for the old timers... just bring up the breathless air intake fiasco from about 12 years ago... yea... that's the ticket.

Quote:

Quote:

Last post repeating what you said Andy

lol

[color=FF0033]
Originally Posted by Vettebuyer5869 View Post

The forum does not suspend or delete posts from a vendor any more than they ask that people follow the rules as with any other member. The rules about complaints and interfering with for sale threads are clearly stated in the Guidelines.
And in answer to your question, I am not familiar with members being suspended for this.







I am sorry but maybe you are new as a Mod here and do not know the history. But you are incorrect. Members have been booted from the forum by the request of certain vendors. Also threads that called into question the honesty of a vendor on there products and there public actions were also removed from the forum. And the worst part is these Good members that would help anyone were being honest and straightforward for the benefit of the other Good Members of the forum. This got so bad at a point that these Good Members started there own Corvette forum so help and ideas could freely flow for the benefit of all. Of which This very forum used to be THE place for Corvette people to meet and help others with there projects or ask for help freely. I hope that one day it returns to the way the forum used to be as to benefit all. And help each other avoid unnecessary loss of hard earned funds as well as information on the best products and vendors as well as individuals willing and able to help.

Last edited by SHAKERATTLEROLL; Today at 11:40 PM.
SHAKERATTLEROLL is online now Report Post



[/color]

And that folks, is how Digital Corvettes was founded.

Patrick and Troy went to court over the way each other handled it. As I understand it, and I am not 100% sure, Troy accused Patrick of raiding CF for members (which isn't really all that hard to do, trust me) and Patrick was accusing Troy of restraint of trade, IIRC... or something to that effect.

In the end, Patrick was forbidden from going to CF. I don't know if that is still binding, now that neither own the sites they founded.

FYI

http://forums.corvetteforum.com/c4-ge ... 5-keisler-bought-out.html

Quote:
Quote:

This is what he said to me today

If I read correctly Craig bought out your company. I want to wish you well and good luck. I love the transmission tko 600 I purchased from you. You made a good product.

Sincerely best of luck

Steve
Bakersfield


Dear Steve

Thank you for your interest. I am at the early phase of this attempt to raise investors - including strategic partners - to buy the assets and restart the operation. I have not formed the new company as of yet, as I am reviewing the best corporate structure for investors in US, Canada and International.

In December 2013, Liberty Gear of Taylor Michigan purchased the Keisler Tremec PerfectFit TKO & T56 assets, with the intent to support the going forward. Liberty Gear would like Shafi and the new company to continue doing what they were doing previously. This is a great benefit to the new company in that it can provide cash flow and profit almost immediately.

The opportunity at hand to start a new company can take one of two paths:

Option A – Purchase KE Operation from Trustee & Start Operations - Produce the custom Transmissions, Kits and Accessories for TREMEC, Rallye Sport RS, Super Sport SS. Then move to the second phase which is a new 6-speed based on the design of the SS700. This option utilizes many toolings in place and $400K of inventory on the shelves at KE.

Option B – Do not purchase KE. Sell Go straight to the second phase, the SS700 6-speed. Upon completion, begin production with a full line of completely engineered kits and accessories. This option requires new tooling and inventory

I have a presentation used in the recent weeks prior to the closing which covers the product line and the opportunity.

I am available today thru the balance of this week to meet by phone. Please let me know what works for your schedule. I can meet any time of the day or evening.

And thank you for taking the time and interest to contact me. KE was a diamond at one time, and could be a better company now with a clean start.

With Best Regards,

Shafi Keisler




Sent: Wednesday, January 29, 2014 1:06 AM
To: NewcoKeisler@gmail.com
Subject: sale of company

latest news

Dear STEVE ,



To everyone affected by the closing of Keisler Engineering Inc .... I am very very sorry for this event. It has impacted many people - customers, vendors, families and employees. And my wife and kids have also been affected as we lost our home, farm and savings and other personal assets. These are tough times, but I am now working very hard to assemble a group of investors to purchase the KE Inc assets (Inventory, Equipment, Tooling, Designs, Trademarks, Phone Numbers, Website, more) from the Bankruptcy Court and start a new company. I need to raise approximately $500,000 to start the brand new company that will allow me to FILL ALL OPEN SALES ORDERS of KE. IF we can raise $800,000 in total, we can move the market forward with the build of the newly designed Super Sport 6-speed that Chief Engineer Dick McCord and I recently completed in 2013. PLEASE HELP ME BRING THE AMERICAN INNOVATION OF KEISLER ENGINEERING INC BACK TO THE MARKET by referring potential investors to me here: NewcoKeisler@gmail.com



NOTE FEB 4 2014 : THE EMAIL ANNOUCEMENT BELOW WAS SENT JANUARY 23. I AM RESENDING IT AGAIN BECAUSE SOME CUSTOMERS WERE NOT ON THE MAILING LIST. ALSO, I HAVE ADDED A SECTION ABOUT THE DRIVESHAFTS FOR THOSE NEEDING THEIR DRIVESHAFT.



Last Thursday January 16, I ceased operations of Keisler Engineering Inc by filing it into a Chapter 7 Liquidation Bankruptcy. This was a sad day for our customers, vendors, employees and families, many of which had been with us for 5-10 years. And this brought to a close a 22 year long run of the company I started in my garage in 1991 that grew to become the innovator and leader of the 5-speed overdrive transmission market for muscle cars and Corvette.



Why Close Keisler Engineering Now?



The decision to close Keisler Engineering Inc in Chapter 7 Liquidation is covered in some detail on our Facebook page here. Another reason why I decided to place the company into a Chapter 7 liquidation type bankruptcy was to cleanse the assets of the liabilities that were preventing the company from thriving financially as well as providing the highest level of customer service our customers deserved. The liabilities and overhead of KE coupled with my own personal financial liabilities that lingered from the $4 Million acquisition of GM's Muncie Transmission equipment purchase in 2006 made it impossible for me to bring in financing and working capital needed to get KE operating in the "sweet spot" where orders ship 100% complete and with quick delivery. It was time to hit the START OVER button - both for the company and myself to get out of the financial entanglements. As of January 16 2014, that process of start over has begun.



The closing of the company and the many vendors and customers affected rests completely on my shoulders as the President & CEO. There is no good time when it comes to closing a company, but it was my fiduciary duty to take the action needed to prevent further loss to the customers and vendors. From Dec 6 to approximately Jan 15, more than 122 transmission orders were shipped out the door, plus a whole lot of parts orders. We finished out the 2013 year with over 1,000 transmissions shipped. Had we completed all orders on the books at the time of closure the number would have been closer to 1,300 transmissions. About half of the unfilled units were SS700 which I came to the conclusion would be impossible to fill swiftly.



What Happens to Keisler Engineering in Chapter 7 Bankruptcy?



The court assigned Mr. John Newton of Mayer & Newton as the appointed Trustee to Keisler Engineering's case. Mr. Newton has determined it is in the best interest of the creditors that Keisler Engineering be sold as either:

1) Complete & Fully Intact Operation Asset, OR

2) grouped assets that comprise the whole operation



This means the Buyer(s) could purchase the Assets including the Trademarked name, website, customer list, designs and inventory ... everything - clean and free of any Liabilities or entanglements, and put them back to work at the same facility or a facility of the Buyer's election. There is more than $400,000 of Inventory assets. And there are important pieces of machinery such as the Spin Test Machine.



Mr. Newton further states that he would like to select a Buyer in the coming 4-6 weeks, and get the sale approved by the Court in swift fashion.



There is a small amount of component parts product ready to ship, like special order driveshafts, that Mr. Newton would like to get shipped to customers in the coming 1-2 weeks.



Who can be a Buyer of the Keisler Engineering Operation?



YOU can be a Buyer. There are NO restrictions. If you are a Creditor to KE in the Ch7 Schedule F, you can be a Buyer. But your Creditor claim amount does not serve to "credit bid" meaning new money would need to be provided.



The operation can be started in the existing facility immediately, or preferably relocated to a smaller facility nearby with lower overhead, or even moved out of state. Most of the Keisler Engineering employees are available to be hired as of January 23. I am also available to support the start-up and long term go-forward.



IF YOU WANT TO SEE A NEW COMPANY FORM TO CONTINUE THE PRODUCT LINE OF KEISLER ENGINEERING AND HELP CUSTOMERS GET THEIR ORDERS FILLED, then skip down to the next section now.



While we wait to see the outcome of the KE Operation Asset Sale, some of you may be seeking to purchase a Keisler transmission kit. In Dec 2013, I sold the Keisler PerfectFit TKO 5-speed and T56 6-speed kit lines to Craig Liberty at Liberty Gear, please contact:

NOTE: Liberty's Gears DID NOT PURCHASE OPEN SALES ORDERS OF KEISLER ENGINEERING, INC.. Please do not ask them for parts or warranty support as they have no obligation for KE Inc orders. They spent nearly several hundred thousand dollars to secure the Keisler PerfectFit TKO & T56 product lines.

Liberty's High Performance Products, Inc.
6390 Pelham Road
Taylor, Michigan 48180
Phone (313) 278-4040
Fax (313) 381-2411
www.libertysgears.com

Tremec ELITE Distributor



I will update everyone just as soon as possible with more developments.



ALL INQUIRIES ABOUT KEISLER PRODUCT OR TECHNICAL SUPPORT SHOULD BE DIRECTED TO ME. EMAIL REPLIES WILL BE SLOW AT THIS TIME. THE PHONES ARE NOT BEING MANNED AT THIS TIME. THE WEB REQUEST FOR QUOTE PAGE IS CURRENTLY NON-OPERATIONAL SINCE DEC 17 2013 AND WILL NOT BE FIXED AT THIS TIME. I am the only one manning the company at this time (with no compensation) until Trustee John Newton can implement more help. You may reach Mr. Newton at the following:

John Newton, Trustee for KE Inc Case 14-30100

Mayer and Newton

1111 N Northshore Dr, Knoxville, TN 37919
(865) 588-5111 ** do not call; email him only **

johnnewton@mayerandnewton.com



Again, I am sorry to bring this news and that I could not do a better job to maintain the KE Inc in operation. But, as you read my lengthy posts on Facebook, you will understand that closure of the company to move forward was in the best interest of everyone.



Sincerely,



Shafi Keisler, Pres/CEO shafi.keisler@keislerauto.com

Keisler Engineering, Inc.

*** EMAIL ONLY PLEASE - NO PHONE CALLS AT THIS TIME **

Celebrating 22 Years of Innovation 1991 - 2014 Jan 15



Proposal for New Company Co-Operative Ownership by the Customers, Vendors & Management



Today I presented to Trustee John Newton a concept to gather buyers for the entire Keisler Engineering Operation Assets. He was agreeable for me to pitch this to you with the understanding that THIS BUYER GROUP APPROACH IS STRICTLY A PRIVATE TRANSACTION AND NOT AFFILIATED WITH THE TRUSTEE OR THE BANKRUPTCY PROTECTIONS PROVIDED TO CREDITORS. So here is the concept for your consideration:



A new Limited Liability Corporation company is formed with the sole purpose to purchase, own and operate the entire Keisler Engineering operation. Mission is to provide the performance aftermarket with class leading 5 & 6-Speed transmissions. Included in this mission is to fulfill the outstanding open orders of ALL Customer Creditors over a period of time, or a cash settlement over time for ALL Customers Creditors of Keisler Engineering Inc. Cancelled orders and refunds are not part of the outstanding open orders. At the time of closure, the cost for KE Inc to complete ALL Customer Creditor open orders including backorders, was approximately $476,399 for materials plus the direct labor and overhead to assemble, test, pack and ship.



To make this work, the new LLC shall be formed with Stock Shares types as defined below. Money to purchase the KE Operation Assets shall be raised from a portion of the sale of Preferred type Stock Shares. Monies raised shall be kept in an Escrow Account and not released until the court approves purchase of KE Operation Assets by the new LLC. The purchase amount for KE Operation Assets is unknown but must be the highest offer submitted to Trustee John Newton. There is no guarantee the new LLC would be able to make the highest offer; any other potential buyer group may ultimately outbid the new LLC group which would result in the escrowed funds being returned to every purchaser of Preferred type Stock Shares.



Assuming the new LLC can make the highest offer and purchase the assets, the funds from Escrow will be released into the new LLC, and the purchase will be made, and at some point shortly thereafter Creditors of KE Inc will receive their distribution of this money pro-rata.



The first order of business for the new LLC is to create the cash flow projections and determine how much additional working capital, if any, will be required. Additional working capital may come from the sale of more Preferred Stock Shares (best way, no debt), or a working line of capital from a bank loan or private lending source. Once the required amount of working capital is funded, execution of start up shall begin. From my experience, the new LLC can be started up with a minimum of full time personnel - just myself (Shafi Keisler), one (1) straight commission technical salesman, one (1) customer service/shipping and two (2) production associates. The remainder of staffing (additional production plus financial, purchasing, engineering) would be part time contractors until the sales and work load requires full time support.



The Product Line would be streamlined into the following:

1.PerfectFit Tremec TKO & T56 transmissions enhanced by Liberty Gear for superior shift quality of Keisler's previous Tremec offering. Liberty Gear is a Tremec Elite Distributor and they invested several hundred thousand dollars in 2013 to purchase the Keisler PerfectFit designs, inventory and equipment in an effort to maintain supply of the product to the market. Craig Liberty, the owner, has offered to DONATE all of his inventory at KE to the new LLC and allow all of the equipment he purchased to remain in place as his further Good Will to help all of us affect a start up under my leadership.


2.Rallye Sport, Super Sport - these current product lines will run until the tool up of the brand new replacement 5 & 6-Speed versions in-process are complete and into production. My chief engineer at KE, Dick McCord, and I have completed the all new SS 5-speed design (not to be confused with Legend Gear & Transmission LGT-700; not the same product). And the SS 6-speed version needs approximately 6 months of preparation to complete design and validation testing. These new designs take the current RS & SS technology to the next level for features, fit and torque capacity. The best gear manufacturer I have experience with resides in Detroit, and they have offered to tool up the entire gearset for the 5 & 6-speed product lines and hold the inventory at their expense. This is a tremendous offering from this supplier, who has a near perfect performance record for quality and delivery AND whose price is less than any other US manufacturer I have used to date. Already, they have hundreds of gears on the shelf for this product line.


3.All the Accessories - from Hydraulic Clutch Kits, to Pedals, Shifter Handles, Knobs and much more. These proven accessories complement the transmission kit, and provide a bottom line profit and value that is unmatched in the industry.


Ownership in the new LLC will be represented by Stock Shares of three types:


•1) Preferred type stock shares - purchased with new money and may be privately traded with few restrictions. The price is $1 (one US dollar) per share.
•2) Customer Creditor type stock shares - non-traded shares that represent the final claim amount, less final distributions by the Trustee. As the new LLC fills the open orders of Customer Creditor or provides a cash settlement, the Customer Creditor Stock Shares are converted to Management Stock Shares until there is no remaining Customer Creditor Stock Shares. It is the goal of Management to fill all the open orders as soon as possible, and thereby increasing its ownership share in the company.
3) Management type stock shares - non-traded shares representing Shafi Keisler and company management. This would be established at a minority share position of to be determined. The Preferred Stock Share Holders and Customer Creditor Stock Share Holders in total would be the Majority Owners of the new LLC at the time of start-up.





A board of directors would be set up to provide oversight to the company. These would be selected from members of each Stock Share type - Preferred, Creditor and Management.



VALUATION of the new LLC

All monies raised thru sale of Preferred Stock Shares prior to operation start-up will determine the value of the new company. For example, if a total of 600,000 shares of Preferred Stock in new LLC are sold at $1 per share, for a total of $600,000, then the initial value of the company is $600,000.



PURCHASE of Preferred Stock Shares of the new LLC

The minimum level of investment for Customers is no less than three thousand dollars ($3000.00) for three thousand shares (3,000 shares). The minimum level of investment for Vendors is five thousand dollars ($5,000.00) for five thousand shares (5,000 shares). In order to meet the minimum goal of $500K, we also need some large investors that can bring $100,000 or more each.



DEBT

The new company could potentially secure a line of working capital debt. Perhaps 33% of the total dollar amount raised in sale of Stock Shares could be raised in the form of a working line of capital. For example, if we raise $600,000 in equity then perhaps an additional $200,000 of working capital line of credit could be raised. It is better to have no debt, but a 3:1 ratio of equity to debt is reasonable.



PRIVATE STOCK OFFERING

As Shafi Keisler is raising this as a principle of the new company, this is a private offering. This offering is not governed by the securities laws for a Public Offering. With that being said, ANY INVESTMENT HAS RISK, AND ANY MONIES PLACED INTO THIS PRIVATE OFFERING MUST BE DESCRETIONARY SPENDING THAT WILL NOT MATERIALLY IMPACT ONE'S FINANCIAL CONDITION IF THE INVESTMENT FAILS. Take it from me, you do not want to risk your retirement, your savings, get a second mortgage on your home or any of the mistakes one can make.





SUMMARY

This new LLC company has the ability to start up quickly and build proven product by proven people but with much better management, financial stability and customer service. New sales will build profitability, of which a portion will be used to fill open customer orders of KE Inc at the time of its closing Jan 15.

The historical proven Cost of Goods including direct labor is approximately 60% which leaves a Gross Margin of approximately 40%. Sales would be approximately $4 million dollars or more in the first (1st) year, growing to $8 million dollars or more by the third (3rd) year. These sales projections are speculative estimates which match the actual sales revenues of KE Inc from 2007-2013. Given the fact that no other company has the highly engineered product line, brand recognition, customer base or supplier base, this new LLC could and should out perform Keisler Engineering Inc in every way, for any historical sales year - even the high mark when net profits were close to 1 Million dollars.



Please contact Shafi Keisler by email HERE (NewcoKeisler@gmail.com) if you wish to consider participation in the new go forward business opportunity. Numerous details will be cannot be covered in this announcement, and I am certain you will have questions.



Let's try to make this happen ... together!



Best Regards,



Shafi Keisler








Customers Need Their Driveshaft Order Filled


As you know, Keisler Engineering Inc. is currently in Chapter 7 Bankruptcy and not in operation. If you have not received your custom built driveshaft, it is unlikely KE Inc will provide it. Instead, at some point later in the year you will receive payment from the distribution of funds from the KE Inc Trustee, Mr. John Newton. These funds... will likely be less than the cost of your driveshaft. I am very sorry for the failure of the company - it is tragic for all of my customers to suffer any financial loss. Again, I am very sorry and I mean this from the bottom of my heart.

I want to help you get your driveshaft built so that you can complete your project. It will require you to pay for the driveshaft out of pocket. The distribution from Trustee Newton would help to offset your out of pocket expense.

Ferguson Driveshaft, an authorized Dana Spicer distributor located in Morristown Tennesse, is the supplier used to build our driveshafts in recent years. Fill out the driveshaft measuring sheet, then call James Ferguson and provide him your data. He will build your driveshaft to the Keisler specifications, pack and ship it to you at wholesale cost plus shipping.

James Ferguson
Ferguson Driveshaft
Morristown, TN
dshaft@ymail.com
423-586-1597

423-586-1715 FAX












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that's lot of words, but a) I like how it is being handled transparently and b) the process looks like it makes sound business sense.

I hope he can keep it, and this sounds like a minor hick-up in the scheme of things.

Remember, GM has gone bankrupt at least twice, once back in the late 1920s, when DuPont came in and bailed their asses and again in 2009... oh, I think there was one in 1919 or so.

Chapter 7 can be used as a reboot... Chapter 11 is normally used to simply reorganize, hell, most of America's airlines have been going in and out of bankruptcy courts for years now... and we still gleefully fly them... scary, eh?

I have invested in operations like this before. I do have a few thousand dollars to speculate with.

The funny thing I have heard from all the corvette members here is when you buy a corvette like we all own we are investing in a money pit from the get go.


I am waiting to see more of what is to come about.

Now that the 383 and Super Ram are in I have seats and a paint job left to go

Depending on the circumstances surrounding this call (and proof), the suing plaintiffs' counsel might pay a lot of $ for this info...

Quote:

Another company is offering $$ to help?

That's a steaming pile of stuff. For more reasons than just one.

NAMELY, nowadays, the company with NO money, is the one that buys the competitor, that HAS money.

I stopped going to CF a few weeks ago the KE weekly slam is getting boring. There is no proof he is a crook or a crappy business man and that he isn't I am out on two years warranty. Guess I was the lucky one. Liberty did the repair and they took a long time to remove the simple part that was broken. My emails on repair were answered by Liberty through ke.
I have a claim in what comes to be. I was hoping the CF slam everybody wasn't going to happen here.
I have a lot of good friends at CF that aren't looking to slam anybody because they heard from so and so that someone said.

Dog gone it now I am doing it.

I am just waiting to see what is going to happen. Good or bad.

My e-machine claim finally finished after 7 or more years I have a new $370 computer. Didn't do me any good to stir the pot to make it boil over. They sold many defective computers through Forgot the name of the co. that went chapter 7 5 or more years ago

Yea, Gateway... done and gone... and now owned by Asus, IIRC...

A friend has the same claim... and the options right now SUCK.

Thanks Andy that the Company. When you get to pick your computer if you want a laptop they are shipped in a box without any padding. Most are damaged by the time you get one. I got the desktop. Just because it was new.

oh, that's crappy...

Wow, I am shocked, I love the TKO600! I don't do the forums much, when i do, (think worldsmost interesting man) I don't do CF C4 !

TKO 600 is a work horse. Love mine

any updates on their survival?

It sounds like the TKO line is in the good hands of Liberty.

Quote:

No news

interesting...

Latest news







Dear STEVE



I hope this email finds you in good spirits as Spring has (finally) sprung! This is the first newsletter of Keisler.com. Keisler.com is my new personal venture to assist the special car enthusiast. Thank you for taking the time to read my prior newsletters over the many years. Going forward Keisler.com will bring you valuable information about drivetrain technology, products, services and companies that will help move you forward in the market landscape. If you wish to opt out of future newsletters please click on the link at the top of the page. Otherwise, please remain my guest at Keisler.com, and send me your suggestions for content that you would like featured. As always I welcome your testimonials, photos and stories and will feature them regularly!



KEISLER.COM - Shafi Keisler's new company

I am starting a new company KEISLER.COM, LLC located in beautiful Charleston South Carolina. My website should be live by May 1, and Facebook Keisler.com will be up sooner. I bring over 22 years of product innovation in the performance Automotive Aftermarket combined with my OEM engineering, manufacturing and machinery background to this new endeavor. I am looking forward to putting my know-how and experience to work for you and the industry.



Consulting Services

1. Technical Support for installation of an existing product. Whether you have a junkyard T56 or a complete swap kit from KEI or another company, I can provide you the technical and general support in getting the transmission kit or accessory installed. KEI customers will receive discounted or no cost support.

2. Drivetrain Specification - This is a great way for you to save money and time on your next build. I will be your expert to provide the right solution for your needs - not what a salesperson wants you to buy. Provide me the scope of your build including your targets or goals, and I will provide one or more solutions to meet your goal. This will be a detailed prescription of exactly what you need, with part numbers, suppliers, pricing, Pros and Cons and other important factors. I will prevent you from making costly mistakes so common when buying a transmission or drivetrain solution - whether it be a manual transmission or automatic. I can help your installation technician or recommend a qualified professional that I trust to perform the installation correctly and efficiently to save you money. My services will pay for themselves, and save you money and time every step of the way. Most people don't understand that the transmission and driveline selection process is more complicated than the engine selection. One of the largest capital investments at automobile manufacturing companies is the transmission. My support in your planning and execution will pay dividends in time, on-road reliability, all-in cost and get you on the road quicker.



Contract Product Design & Build, Sales and Marketing Services

If it goes in a driveline, chances are I can help you bring your new product to market or add value, features, reduce cost, expand your supplier base and improve quality for your existing product.



1. New Product - If you have a product that needs to be produced, but do not know how to go about getting it done, I can assist you in all aspects of the product from womb to tomb. This includes Sales, Marketing, Product Design & Drawings, Supplier Development, Tooling and Equipment Selection & Procurement, Pilot Build & Production, Launch to Market, Quality Systems and the required infrastructure needed as well as recommendations of staffing and hiring. This pulls together all of my experience and resources, and I will contract additional staffing support as required to meet your goals. I have launched hundreds of new products in my career, in both low and high volume production, but my strength is in finding the right production method, tooling and sources to fit your needs.



2. Existing Product - If you have an existing product that needs to be moved to a different supplier, improved or modified or reengineered, I can assist you in all aspects within my experience and limitations and will add value to your product and process of making it a success.



3. Sales and Marketing - Alongside Product Development, Sales and Marketing are key strengths that I bring. Building the brand of a number of companies, including Keisler Engineering, American Gear & Transmission, Legend Gear & Transmission and One More Run are a few noteworthy mentions. There are many ways to spend a marketing dollar and I can advise on effective methods based on the budget and targeted market and sales goals.



In today's market, it is best to find the right fit of partnering for success rather than doing it all yourself and this is where I can help.



Keisler.com Innovative Products

As money permits, I will roll out new and innovative products for various markets. If you have a request or suggestion, please send it to me. I welcome co-operative joint ownership efforts given the proper investment capital. The market holds many opportunities.



Please contact me at the following:

Shafi Keisler, CEO

Keisler.com, LLC

865-414-8089 phone 8am - 6pm eastern

Web: Keisler.com (eta May 1)

Facebook: http://www.facebook.com/KeislerDotCom

Email addresses: *please send to both*

Shafi@Keisler.com

NewcoKeisler@gmail.com







COMMENTARY ON THE SALE OF KEISLER ENGINEERING INC ASSETS, BK CASE 14-30100, AND MY EFFORTS TO START A NEW COMPANY TO CONTINUE THE BUSINESS OF KEI.



In my last newsletter early February, I mentioned I was working to find potential interested parties that would like to pursue purchasing the assets of Keisler Engineering Inc and starting a new company. I received many positive responses and a lot of interest and offers of financial contributions to the new company. One particular interested party, Mr J.E.S. Jr, decided to move forward with the understanding of forming a LLC partnership with me. Those of you that wished to invest were going to become members in this new company. Unfortunately, after weeks of effort, Mr J.E.S. Jr decided to move forward without my further assistance.



Mr J.E.S. Jr placed a $150,000 bid on the KEI assets and is currently the high bidder. No one else has placed a bid to my knowledge. Today, April 10 is the deadline for counter offers and Objections to the Sale. It takes 2 bidders wanting the assets to have a chance to bring good value, so I don't expect to see "good value" come from this sale process unless another party gets involved and this is disappointing to say the least. I hope I am proved wrong and the sale yields much higher results. Considering KEI produced over $50 Million in revenues under my ownership I would say these assets are worth 3-4X more than the current bid. Just to replace what is there on the floor would cost upwards of $950,000.



By the end of this February, over $400,000 in refunds were issued to customers of Keisler Engineering Inc. There was a disruption in email service since March 14 where I have been unable to help any KEI customer needing assistance in getting refunds. If you are seeking my help for refunds, how to file your KEI claim to the court, get replacement parts, get your driveshaft, and other matters, I wish to help you if you can please email me to: NewcoKeisler@gmail.com It is important that you email me so that I have the physical record.



Sincerely,



Shafi Keisler, NewcoKeisler@Gmail.com















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Keisler.com, LLC | 501 Cecilia Cove Drive | Charleston | SC | 29412

How's the engine doin Stevo ?

I love it

Glad to hear !

I can't wait to see Steve's Vette! Sounds AWESOME!!!

http://www.shiftsst.com/blog/25-what- ... nd-why-is-it-so-important

Silver sport Perfect fit at corvette auto show