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Author Topic: track bankrupt2?  (Read 4085 times)

track-atl

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track bankrupt2?
« on: January 20, 2004, 08:33:07 PM »
i just spoke with track.They are not filling for chapter 7 or 11.They are forming basically one company under columbia 300.So amf300, track, and columbia will run as one company.This move is so allow all three companies to run more efficently.This move will save distributors to save money on shipping.So they can place one order instead of 3 diiierent ones,
I hope this clears things up.
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michelle

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Re: track bankrupt2?
« Reply #1 on: January 21, 2004, 11:36:33 AM »
I'd be interested in hearing the explanation then for why a Chapter 7 filing exists in the US Bankruptcy Court, Western District of Texas.  They may have filed for the purposes of putting everything under the Columbia umbrella, but to deny that there was a filing on December 30, 2003 would be an outright lie.
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track-atl

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Re: track bankrupt2?
« Reply #2 on: January 21, 2004, 11:43:43 AM »
Basically there is nothing happening to track.There might be some legal stuff going on tomake this happen.But track is alive and strong.
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michelle

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Re: track bankrupt2?
« Reply #3 on: January 21, 2004, 11:45:53 AM »
quote:
Basically there is nothing happening to track.There might be some legal stuff going on tomake this happen.But track is alive and strong.


Your first post indicated that there was no filing, when the opposite is true.  It may be purely a matter of going through the motions, but to deny that a bankruptcy filing was made was completely inaccurate.
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Jeffrevs

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Re: track bankrupt2?
« Reply #4 on: January 21, 2004, 11:47:47 AM »
Michelle,

I think he meant that they weren't going under...........
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JEFF
Rebuilding Rome one 570 series at a time !!
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Mr Track

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Re: track bankrupt2?
« Reply #5 on: January 21, 2004, 12:05:09 PM »
WHY START A NEW POST?!?!
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it doesn't take an average to win in match play!
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charlest

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Re: track bankrupt2?
« Reply #6 on: January 21, 2004, 12:22:25 PM »
Lawyers! What would we do without them?

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"Just because you can do something does not mean you should do it."
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"None are so blind as those who will not see."

Rock77

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Re: track bankrupt2?
« Reply #7 on: January 21, 2004, 07:12:20 PM »
I really hope this doesnt mean that Columbia is going to have more involvement with the production of Track balls. Lets face it, Columbia is horrible and Track is great. I hope this is better for the long run and not worse!!
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I consistently SUCK!!"
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Phillip Marlowe

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Re: track bankrupt2?
« Reply #8 on: January 21, 2004, 07:26:37 PM »
quote:
Lawyers! What would we do without them?

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"Just because you can do something does not mean you should do it."


Go directly to jail.  Do not pass go.


quote:
I really hope this doesn't mean that Columbia is going to have more involvement with the production of Track balls. Lets face it, Columbia is horrible and Track is great. I hope this is better for the long run and not worse!!


Too late.  Why do you think Phil C. left Track?
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"I don't mind if you don't like my manners. I don't like them myself. They're pretty bad. I grieve over them on long winter evenings."

Edited on 1/21/2004 8:25 PM
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D McLaughlin

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Re: track bankrupt2?
« Reply #9 on: January 22, 2004, 10:14:54 AM »
Hmmm....perhaps it was because he was FIRED!?!?!?
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How is your wife and my kids?
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Darren McLaughlin

Phillip Marlowe

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Re: track bankrupt2?
« Reply #10 on: January 22, 2004, 11:12:20 AM »
quote:
Hmmm....perhaps it was because he was FIRED!?!?!?
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How is your wife and my kids?


But why do you think they came to a parting of the ways?  

Oh, and my wife and yours are both fine.  So are all my kids.
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"I don't mind if you don't like my manners. I don't like them myself. They're pretty bad. I grieve over them on long winter evenings."
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"Some men get the world.  Others get ex-hookers and a trip to Arizona."

T-GOD

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Re: track bankrupt2?
« Reply #11 on: January 22, 2004, 01:22:36 PM »
Whatever the case may be, it looks like Track is losing money/not making a profit. =:^D
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D McLaughlin

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Re: track bankrupt2?
« Reply #12 on: January 22, 2004, 01:51:31 PM »
T-God.....spoken like a true idiot.  BRAVO!  Stick to BuzzSaws bro and save us all alot of heartache.
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How is your wife and my kids?
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Darren McLaughlin

michelle

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Re: track bankrupt2?
« Reply #13 on: January 22, 2004, 02:05:34 PM »
Based upon the filing and creditors matrix, T-God would seem to have a point...they listed assets worth less than $50K and liabilities that were in excess of $200K.
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jd1319

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Re: track bankrupt2?
« Reply #14 on: January 22, 2004, 02:19:40 PM »
it's a tax related move, Columbia was their only significant liability, and with a chp 7, columbia can write that off as a loss.  Many companies have more debt than they do assets, however, their cash flow is such they can make their monthly debt payments, and still turn a profit.
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