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BMW 3-Series (E90 E92) Forum > E90 / E92 / E93 3-series Powertrain and Drivetrain Discussions > N54 Turbo Engine / Drivetrain / Exhaust Modifications - 335i > HorsepowerFreaks HPF out of business?!?!?!?!



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      05-06-2013, 10:19 PM   #23
1chanc3
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Anyone got any links on this? I would definitely like to read more about it....
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      05-06-2013, 10:33 PM   #24
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What I'm really surprised about is that the company is going under because of just $200k...
+1. They made a lot of money.
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      05-06-2013, 10:41 PM   #25
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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.
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      05-06-2013, 10:42 PM   #26
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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.

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      05-06-2013, 10:48 PM   #27
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Originally Posted by shiv@vishnu View Post
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.
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      05-06-2013, 11:02 PM   #28
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Relax guys. They are at Vegas for a poker shootout.
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      05-06-2013, 11:06 PM   #29
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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
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      05-06-2013, 11:12 PM   #30
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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.
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      05-06-2013, 11:20 PM   #31
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Quote:
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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.
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      05-06-2013, 11:26 PM   #32
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Guys can you share a link?! unbelievable
http://forum.e46fanatics.com/showthread.php?t=985812
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      05-06-2013, 11:48 PM   #33
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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.
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      05-07-2013, 12:03 AM   #34
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Wonder if there will even be a stock clearance sale.
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      05-07-2013, 12:09 AM   #35
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Feel bad for the guy who lent them his 335 for such a long time. All that for nothing, the kit was never perfected.
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      05-07-2013, 12:12 AM   #36
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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.
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      05-07-2013, 12:16 AM   #37
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I feel bad for what's coming to the guy who stole that money....
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      05-07-2013, 12:31 AM   #38
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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
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      05-07-2013, 12:32 AM   #39
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is this real?
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      05-07-2013, 12:43 AM   #40
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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.
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      05-07-2013, 12:48 AM   #41
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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.
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      05-07-2013, 12:49 AM   #42
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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!
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      05-07-2013, 12:50 AM   #43
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Hard to believe for sure...
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      05-07-2013, 12:52 AM   #44
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he should have gotten more....he ruined Simmons lively hood!
That amount of money should be at least 10 years.
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