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      05-13-2009, 03:23 PM   #23
Septro
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Quote:
Originally Posted by stressdoc View Post
So PROFIT > honesty? No wonder we got into this financial crisis.
+1. A handshake and a man's word means something. We used to do business like that without contracts for a long period of time in our country. We have contracts now because people put PROFIT > honesty.

I love the story of businessman Jon Huntsman with this excerpt:

"So I sold 40% of my business to a man by the name of Emerson camp and he was chairman and CEO of Great Lakes Chemical, one of the great chemical companies in America, 1986. Emerson said I'll pay you $54 million. I've had this business appraised and the 40% I'm buying, I'll pay you $54 million. I said, Emerson, that's fine. I was excited to move on, I needed the money, I needed it for payroll and for expansion and for the other purposes of a growing business, and he took quite a bit of time to get around to having his attorneys look into the deal and to give me the papers, the contract and all the other negotiating instruments that we had to have in a deal that size.

Finally by the time he did it, six months had elapsed and in the meantime our markets had turned around. .. The prices of chemicals had gone up dramatically. Margins had improved, profits had improved. And after six months when he came back with a contract, that price was worth not $54 million but for 40% of the business it was then appraised at $225 million, a rather handsome difference. And so he came back with his lawyers and said, Jon, I know I've delayed, I know I've waited, I know I haven't moved fast, but the business is now worth approximately $200 million. And I said, no, Emerson, it's worth about $225 million if we take our latest appraisal.

Anyway, to make a long story short, he said, let's split the difference. I'll pay you $125 million for your 40% of the business. And I said, Emerson, that's not -- I will not accept that. I shook your hand at $54 million six months ago and that's exactly what you're going to pay for this business. And he was arguing that he should pay more and I was arguing that a handshake's a contract. I don't care about the lawyers. When you shake a man's hand, it's a contract. It's your bond. It tells a little bit about your integrity. And even though I may have lost money on that deal,.. I didn't lose money in life. It was an important aspect for my children, my grandchildren and our corporation to see that when you make a deal, a deal is consummated with the shaking of another man's hand."


The best part is that when the guy died, even though Huntsman didn't know him well, he stipulated in his will to have Huntsman be one of two people to speak at his funeral due to this one singular act.

Sorry for the long /OT but this speaks in like kind what Tischer did to make up for this error to the OP.
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      05-13-2009, 03:43 PM   #24
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Quote:
Originally Posted by stressdoc View Post
So PROFIT > honesty? No wonder we got into this financial crisis.
Unfortunately now days this is the case, and car salesmen are poster children for that statement. However, there are also a mattress salesmen, and those guys would definitely put the car guys to shame....
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      05-13-2009, 03:53 PM   #25
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I am so glad it all worked out for you...I am from Maryland and based on your post, was planning on diverting my future BMW purchasing family/friends away from this dealership...it's amazing what a forum post can accomplish...their reputation was at stake. Now I will also give them a chance...
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      05-13-2009, 03:54 PM   #26
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Originally Posted by Evan@Tischer View Post
Hey guys, just stumbled upon this thread and forwarded to our Center Operator, Larry Sevrin....
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      01-30-2010, 12:49 AM   #27
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Originally Posted by solefald View Post
i like how bunch of people here jump in "bash-tischer" bandwagon... i am willing to bet that half of them don't even know where tischer is...

you know what dealers do? they sell cars for... PROFIT. stop your crying and go buy your car somewhere else.

and speaking of splitting the difference.... i sold my old car and the lady i sold it to, took it to the shop next day. the shop had to replace the catalytic converter (i kinda new that they may want to do that, because the car had 127,000 miles on) and some other shit for $900. the lady called to tell me that, not really expecting anything from me. i offered to pay half of the repairs. that made her extremely happy, and made me feel good that i did a right thing and did not fuck over a person, who bought my old car, so i could buy a brand new BMW.
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      05-15-2010, 04:38 PM   #28
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Glad to hear they reached out. I've never had any dealings with Tischer (though I've read very good things about them) but I will tell you that the best car buying experience I've ever had was with Passport BMW. Maybe I just got a good salesman who needed to make a deal but he was honest, straightforward and delivered exactly what we discussed. Absolutely no surprises.

Personally, I'd probably head back to Tischer if they have the car you want and you feel they've made things right...but if you don't feel that way, PM me and I'll give you my salesman's info. Like I said - best car buying experience I've ever had.
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      05-15-2010, 05:08 PM   #29
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Quote:
Originally Posted by Septro View Post
+1. A handshake and a man's word means something. We used to do business like that without contracts for a long period of time in our country. We have contracts now because people put PROFIT > honesty.

I love the story of businessman Jon Huntsman with this excerpt:

"So I sold 40% of my business to a man by the name of Emerson camp and he was chairman and CEO of Great Lakes Chemical, one of the great chemical companies in America, 1986. Emerson said I'll pay you $54 million. I've had this business appraised and the 40% I'm buying, I'll pay you $54 million. I said, Emerson, that's fine. I was excited to move on, I needed the money, I needed it for payroll and for expansion and for the other purposes of a growing business, and he took quite a bit of time to get around to having his attorneys look into the deal and to give me the papers, the contract and all the other negotiating instruments that we had to have in a deal that size.

Finally by the time he did it, six months had elapsed and in the meantime our markets had turned around. .. The prices of chemicals had gone up dramatically. Margins had improved, profits had improved. And after six months when he came back with a contract, that price was worth not $54 million but for 40% of the business it was then appraised at $225 million, a rather handsome difference. And so he came back with his lawyers and said, Jon, I know I've delayed, I know I've waited, I know I haven't moved fast, but the business is now worth approximately $200 million. And I said, no, Emerson, it's worth about $225 million if we take our latest appraisal.

Anyway, to make a long story short, he said, let's split the difference. I'll pay you $125 million for your 40% of the business. And I said, Emerson, that's not -- I will not accept that. I shook your hand at $54 million six months ago and that's exactly what you're going to pay for this business. And he was arguing that he should pay more and I was arguing that a handshake's a contract. I don't care about the lawyers. When you shake a man's hand, it's a contract. It's your bond. It tells a little bit about your integrity. And even though I may have lost money on that deal,.. I didn't lose money in life. It was an important aspect for my children, my grandchildren and our corporation to see that when you make a deal, a deal is consummated with the shaking of another man's hand."


The best part is that when the guy died, even though Huntsman didn't know him well, he stipulated in his will to have Huntsman be one of two people to speak at his funeral due to this one singular act.

Sorry for the long /OT but this speaks in like kind what Tischer did to make up for this error to the OP.
Unrelated to this thread (Way to step up, Tischer) but, that is one of the dumbest stories I've ever heard. A company is worth what it is worth, if the you agree to sell someone a certain company at a certain time and it's worth $54m at that time, execute the deal on a handshake and be done with it, fine. If the other guy drags his ass around for 6 months and the company value increases five-fold - why in the hell would you be obligated to sell him the company for its current value at what it was worth 6 months ago? I agree on the principle of a handshake and do all my business above board (to a T), but that parable is straight up dumb. Also, Glenn Beck blows goats.
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      05-15-2010, 05:34 PM   #30
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Glad to hear Tischer is making things right for you. I've noticed a bit of a turnover in their sales force over the past couple of years, but I've bought 4 BMWs from them since 1997 and received nothing but excellence service. Although my purchases have all been new cars, their handling of the orders, deposits, contracts and new car prep have all been very professional.

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      05-21-2010, 07:48 PM   #31
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Quote:
Originally Posted by IancoleTX View Post
Unrelated to this thread (Way to step up, Tischer) but, that is one of the dumbest stories I've ever heard. A company is worth what it is worth, if the you agree to sell someone a certain company at a certain time and it's worth $54m at that time, execute the deal on a handshake and be done with it, fine. If the other guy drags his ass around for 6 months and the company value increases five-fold - why in the hell would you be obligated to sell him the company for its current value at what it was worth 6 months ago? I agree on the principle of a handshake and do all my business above board (to a T), but that parable is straight up dumb. Also, Glenn Beck blows goats.
agreed..what if after 6 months and they were about to file for bankruptcy? the other guy probably would of fled and paid jack...
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      05-21-2010, 08:45 PM   #32
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I am glad things are being worked out, but it would also be nice to hear that those at fault would be spoken to or even fired because one bad egg will bring down a dealership. Word of mouth can be your best friend or your worst enemy.
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      05-22-2010, 12:25 PM   #33
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Yeah, it all worked out. Was very happy with their response and I think it really was just a mistake by one person. Sh*t happens!
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      05-22-2010, 12:40 PM   #34
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Also, Glenn Beck blows goats.
lol what do you have against Glenn Beck?

sorry gonna
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      05-28-2010, 12:06 PM   #35
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wow, way to step it up Evan.
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