HorsepowerFreaks HPF out of business?!?!?!?!

1chanc3 · 05-06-2013, 10:19 PM

Anyone got any links on this? I would definitely like to read more about it....

TwinTuning · 05-06-2013, 10:33 PM

Quote:

Originally Posted by JMARS

What I'm really surprised about is that the company is going under because of just $200k...

+1. They made a lot of money.

shaginwagon13 · 05-06-2013, 10:41 PM

Quote:

Originally Posted by 135Hoser

Calling BS on this.

+1

Stealing some money is one thing. Stealing over 200k without the owners finding out? That sounds a little odd to me.

OpenFlash · 05-06-2013, 10:42 PM

I think you guys overestimate how cash laden tuning shops are. A $175k loss would put most shops out of business quickly. Those who say otherwise have probably never run such a shop. If this is true, it's a real tragedy for the HPF team. Most of us are in this industry because we love what we do, not to retire early. It only takes one unscrupulous act to end the product of years of hard work. Sad.

shaginwagon13 · 05-06-2013, 10:48 PM

Quote:

Originally Posted by shiv@vishnu

I think you guys overestimate how cash laden tuning shops are. A $175 loss would put most shops out of business quickly. Those who say otherwise have probably never run such a shop. If this is true, it's a real tragedy for the HPF team. Most of us are in this industry because we love what we do, not to retire early. It only takes one unscrupulous act to end the product of years of hard work. Sad.

+1 on this.

For those of you that have your own businesses or majored in accounting you will understand that 200k in cash is a HUGE sum of money for any business. Not too many businesses would make it back from a loss of cash like that which makes it even harder to understand how that much cash went missing and nobody caught on.

F80M · 05-06-2013, 11:02 PM

Relax guys. They are at Vegas for a poker shootout.

Lankster · 05-06-2013, 11:06 PM

If it was an employee then shouldnt HPF have accurate identification records of him/her and bring it up in court?

Also, it may not have been noticed that $200k was taken because it could have been in one lump sum and then he/she ran. Kinda hard to see that coming

TurboSid · 05-06-2013, 11:12 PM

i am reading that the employee did get sentenced to 38 months, but the money is still gone.

e46 fanatics seems to have the most up to date info.

Sucks to see something like this happen, on paper 175k doesn't sound like a lot but it can be crippling to any business. Unfortunately a lot of small businesses are highly leveraged on inventory and/or credit because they feel cash in hand can't give them a rate of return as high as reinvesting it into the business.

shaginwagon13 · 05-06-2013, 11:20 PM

Quote:

Originally Posted by Lankster

If it was an employee then shouldnt HPF have accurate identification records of him/her and bring it up in court?

Also, it may not have been noticed that $200k was taken because it could have been in one lump sum and then he/she ran. Kinda hard to see that coming

Again for those of us who own businesses we all know there are checks and balances that are in place so this does not ever happen. First of all, only owners are usually allowed to write cheques because they are the only ones with direct access to the bank accounts. On sums of money of a couple grand or more it requires the signature of both or all owners for the banks to cash the cheques on the account.

Its reported that the Gross Revenues for HPF was around 4 million dollars annually. That may sound like a lot but thats considered a small company and I am sure the reported 4 million dollars gross revenues is exaggerated slightly. I don't buy that a firm that size could let 200k cash just walk out and nobody notice. That makes no sense at all.

MrRager · 05-06-2013, 11:26 PM

Quote:

Originally Posted by marv85

Guys can you share a link?! unbelievable

http://forum.e46fanatics.com/showthread.php?t=985812

joec500 · 05-06-2013, 11:48 PM

Crazy, I have the HPF clutch and it's perfect for my application. It's sad to see something like this happen to the community.

BBBluey · 05-07-2013, 12:03 AM

Wonder if there will even be a stock clearance sale.

Beemw335 · 05-07-2013, 12:09 AM

Feel bad for the guy who lent them his 335 for such a long time. All that for nothing, the kit was never perfected.

marv85 · 05-07-2013, 12:12 AM

Quote:

Originally Posted by Beemw335

Feel bad for the guy who lent them his 335 for such a long time. All that for nothing, the kit was never perfected.

Exactly what I said a few posts back... HPF335i ... I saw his car at the dealership when I went in for an injector not so long ago. his DME was fried.

I really hope he gets it fixed. I think that since he has a single Turbo, he should get in contact with @shiv@vishnu to get help and hopefully Shiv can help the guy out for cheap.

335twins · 05-07-2013, 12:16 AM

I feel bad for what's coming to the guy who stole that money....

cleex024 · 05-07-2013, 12:31 AM

Quote:

Originally Posted by 335twins

I feel bad for what's coming to the guy who stole that money....

why do you feel bad for him? he deserves something bad no?

anyway maybe its my time to get into this business lol....i have the money anyone on hpf pm me for a shop on the east coast =).

im actually serious

Davin · 05-07-2013, 12:32 AM

is this real?

skinrock · 05-07-2013, 12:43 AM

Quote:

Originally Posted by 335twins

I feel bad for what's coming to the guy who stole that money....

Well people are claiming he got sentenced to over 3 years in jail...although I don't feel bad for him.

Beemw335 · 05-07-2013, 12:48 AM

As sad as this is, if HPF had moved away from the e46 m3 and actually put in the effort on other/newer platforms (n54,n55,s65)Im sure theyd still be in business.
Nevertheless, still sad to hear what happened.

robc1976 · 05-07-2013, 12:49 AM

Quote:

Originally Posted by skinrock

Well people are claiming he got sentenced to over 3 years in jail...although I don't feel bad for him.

he should have gotten more....he ruined Simmons lively hood!

Stage 2 Drew · 05-07-2013, 12:50 AM

Hard to believe for sure...

Stage 2 Drew · 05-07-2013, 12:52 AM

Quote:

Originally Posted by robc1976

he should have gotten more....he ruined Simmons lively hood!

That amount of money should be at least 10 years.

05-06-2013, 10:19 PM	#23
1chanc3 Major 148 Rep 1,100 Posts Drives: 2010 e92 335i Join Date: Feb 2013 Location: Los Angeles, CA iTrader: (0)	Anyone got any links on this? I would definitely like to read more about it.... __________________ 2010 335i Coupe- Monaco Blue Metallic
	Appreciate 0 Quote

05-06-2013, 10:42 PM	#26
OpenFlash 1737 Rep 17,960 Posts Drives: A Lot Join Date: Sep 2006 Location: SF Bay, CA iTrader: (0) Garage List 2018 Ducati Panigal ... [0.00] 2016 Mazda CX5 [0.00] 2017 Aprilia Tuono ... [0.00] 2019 BMW M2 Competi ... [0.00] 2015 BMW M5 Competi ... [10.00] 2016 Ducati XDiavel S [0.00] 2016 AMG GT S [0.00] 2011 Ferrari 458 It ... [0.00] 2017 Charger Hellcat [0.00] 2015 KTM Super Duke ... [0.00] 2016 KTM RC390 [0.00]	I think you guys overestimate how cash laden tuning shops are. A $175k loss would put most shops out of business quickly. Those who say otherwise have probably never run such a shop. If this is true, it's a real tragedy for the HPF team. Most of us are in this industry because we love what we do, not to retire early. It only takes one unscrupulous act to end the product of years of hard work. Sad. Last edited by OpenFlash; 05-06-2013 at 10:51 PM..
	Appreciate 0 Quote

05-06-2013, 11:02 PM	#28
F80M Major 88 Rep 1,456 Posts Drives: M Fap Join Date: Aug 2011 Location: in your rear view mirror... iTrader: (2)	Relax guys. They are at Vegas for a poker shootout.
	Appreciate 0 Quote

05-06-2013, 11:06 PM	#29
Lankster Sigma Alpha Epsilon 38 Rep 425 Posts Drives: 2007 335xi Join Date: Apr 2012 Location: Encinitas iTrader: (1)	If it was an employee then shouldnt HPF have accurate identification records of him/her and bring it up in court? Also, it may not have been noticed that $200k was taken because it could have been in one lump sum and then he/she ran. Kinda hard to see that coming __________________ Forum Bible http://www.albinoblacksheep.com/flash/posting JB4, BMS DCI, Dimisa 4" tips, VMR 710 Matt Black, Plasti-Dip Mod
	Appreciate 0 Quote

05-06-2013, 11:12 PM	#30
TurboSid Brigadier General 1110 Rep 3,262 Posts Drives: 2022 M4Cx BSM/FR Join Date: Apr 2008 Location: Florida iTrader: (4) Garage List 2008 335i [0.00]	i am reading that the employee did get sentenced to 38 months, but the money is still gone. e46 fanatics seems to have the most up to date info. Sucks to see something like this happen, on paper 175k doesn't sound like a lot but it can be crippling to any business. Unfortunately a lot of small businesses are highly leveraged on inventory and/or credit because they feel cash in hand can't give them a rate of return as high as reinvesting it into the business. __________________ 2022 BSM/FR M4 Competition X-Drive 2017 MW/SO M4 ZCP [SOLD] • 2015 MW/SO M4 M-DCT FBO [SOLD] • 2011 AW/CR 335is DCT FBO [SOLD] • 2008 AW/CR 335i 6MT FBO [SOLD]
	Appreciate 0 Quote

05-06-2013, 11:48 PM	#33
joec500 Brigadier General 125 Rep 3,004 Posts Drives: it has 4 wheels Join Date: Jul 2008 Location: San Francisco iTrader: (10)	Crazy, I have the HPF clutch and it's perfect for my application. It's sad to see something like this happen to the community. __________________ 2007 E92 6MT SGM: MusicarNW Level 2, Procede Rev 2.5, FFTEC/Vishnu LPFP with Flexfuel Sensor and Flash, M3 Offset V701's, WaveTrac LSD, Michelin PSS, Downpipes, M3 Control Arms, TCKline D/A Suspension, LCI Tail lights, Lux AE's, ER Charge Pipe, DCI's, Mtech Front and Rear, M3 Sideskirts, HPF Stage 1 Clutch
	Appreciate 0 Quote

05-07-2013, 12:03 AM	#34
BBBluey Major 77 Rep 1,011 Posts Drives: very slow and courteous Join Date: Mar 2009 Location: Vandenberg Village, California iTrader: (7)	Wonder if there will even be a stock clearance sale.
	Appreciate 0 Quote

05-07-2013, 12:09 AM	#35
Beemw335 Colonel 62 Rep 2,013 Posts Drives: 335i Join Date: Mar 2011 Location: My car is my home iTrader: (2)	Feel bad for the guy who lent them his 335 for such a long time. All that for nothing, the kit was never perfected.
	Appreciate 0 Quote

05-07-2013, 12:16 AM	#37
335twins Captain 142 Rep 737 Posts Drives: 2020 x3 M40i, 2019 M2Comp Join Date: Mar 2012 Location: AZ iTrader: (1)	I feel bad for what's coming to the guy who stole that money....
	Appreciate 0 Quote

05-07-2013, 12:32 AM	#39
Davin Lieutenant Colonel 54 Rep 1,721 Posts Drives: Yes Join Date: Mar 2008 Location: Trinidad & Tobago / NYC iTrader: (0)	is this real?
	Appreciate 0 Quote

05-07-2013, 12:48 AM	#41
Beemw335 Colonel 62 Rep 2,013 Posts Drives: 335i Join Date: Mar 2011 Location: My car is my home iTrader: (2)	As sad as this is, if HPF had moved away from the e46 m3 and actually put in the effort on other/newer platforms (n54,n55,s65)Im sure theyd still be in business. Nevertheless, still sad to hear what happened.
	Appreciate 0 Quote

05-07-2013, 12:50 AM	#43
Stage 2 Drew Second Lieutenant 9 Rep 206 Posts Drives: an SRT4 that beats ur 335 :-) Join Date: Apr 2007 Location: teh 909 iTrader: (0)	Hard to believe for sure...
	Appreciate 0 Quote