Merwin Hulbert Status

[klw]

My question to him was: "So is it fair to say now that there will never be any MH's produced?"

 

 

No, there's been too much invested and everything's quite close, albeit the

production delays have been excruciating on our side and inconvenient for

customers. It's been tough continually rethinking production methods and

volumes as uninformed critics discouraged a lot of folks from consummating

their initial orders, so the production quantities and types have been a

moving target and adjusting production methods to less than many thousands has

been a journey with a lot of blind alleys but ultimately excellent solutions

for product quality if not lowest cost per unit.

 

As the money's been put into engineering, tooling, parts, product liability

insurance, etc., stopping now would be idiotic. I worked 3 years without a

paycheck to allow that steady investment in the business and that was just

longer than I could personally go anymore, so the production delays were more

than theoretically painful to me. For those who think a magic wand and

shouting get a supply chain on a small new production run flowing quickly and

smoothly, I pity the folks who have to work with them.

 

As of a few weeks ago I've left the management team at Sharps Rifle Company

including Division Head of Merwin, Hulbert & Co. after 3 years. Merwin is

again headed by it's founder Mike Blank, CEO at Sharps Rifle Company.

 

mike@merwinhulbertco.com

 

He gets so many calls a day now that I'll leave it up to him which phone

numbers he releases, I know Merwin phone calls were running 2-4 hours a day

just for me and haven't been responding lately until things were resolved.

 

Al Jones

[farrow]

My question to him was: "So is it fair to say now that there will never be any MH's produced?"

 

 

No, there's been too much invested and everything's quite close, albeit the

production delays have been excruciating on our side and inconvenient for

customers. It's been tough continually rethinking production methods and

volumes as uninformed critics discouraged a lot of folks from consummating

their initial orders, so the production quantities and types have been a

moving target and adjusting production methods to less than many thousands has

been a journey with a lot of blind alleys but ultimately excellent solutions

for product quality if not lowest cost per unit.

 

As the money's been put into engineering, tooling, parts, product liability

insurance, etc., stopping now would be idiotic. I worked 3 years without a

paycheck to allow that steady investment in the business and that was just

longer than I could personally go anymore, so the production delays were more

than theoretically painful to me. For those who think a magic wand and

shouting get a supply chain on a small new production run flowing quickly and

smoothly, I pity the folks who have to work with them.

 

As of a few weeks ago I've left the management team at Sharps Rifle Company

including Division Head of Merwin, Hulbert & Co. after 3 years. Merwin is

again headed by it's founder Mike Blank, CEO at Sharps Rifle Company.

 

mike@merwinhulbertco.com

 

He gets so many calls a day now that I'll leave it up to him which phone

numbers he releases, I know Merwin phone calls were running 2-4 hours a day

just for me and haven't been responding lately until things were resolved.

 

Al Jones

Blaming skeptical, potential customers for a poorly crafted business plan exposes both arrogance and the reason why this will never happen. Market 101 - a market must exist.

[Smithy]

Blaming skeptical, potential customers for a poorly crafted business plan exposes both arrogance and the reason why this will never happen. Market 101 - a market must exist.

 

But doesn't the market already exist? If not in the form of persons whom have already made deposits on unbuilt weapons. In my mind that would certainly constitute a "market" the balance of which would be the thousands of other folk whom are waiting on the fence to see which way the wind blows before they too drop some cash (a deposit) on their own MH and get on the waiting list as well. This will certainly happen once a few pistols materialize, get in the hands of shooters and show up at a couple of shoots. That's all it will take for the flood gates to open and the orders to start flooding in. I am one of those future consumers just waiting to see how things go before jumping in. The company seems anxious to receive my deposit monies, it just seems that they are not that anxious to deliver any product to back it up.

 

When Ruger first announced its P90 some distributors were selling spots on a waiting list to receive the guns as they came out in the order they were on the list. With my FFL, I told folks this and basically to wait a year before they would even see a hint of one. A buddy of mine at the time (also an FFL holder) was selling pre-orders for the gun. I warned folks about this telling them that my buddy had no special contacts other than what I had so all they were getting was a waiting list. As it turned out, my buddy was scamming the folk and pocketing the monies. The more he got into the hole, the more spots he had to sell to stay afloat. He ended up selling two guns to some and three to a few. Finally the police got involved for fraud as in fact it turned out my buddy did NOT have an FFL nor have any intention of procuring any of those firearms at all. No longer my friend (I didn't know him anymore) he skipped town and ran.

 

It is that above example that comes to mind when I think of the MH situation. They're collecting all this money and most of it is going to buildings, payroll, advertising, a lot of different things except the building of the specific revolvers that the deposits were given to build. I know that those mentioned items are all a part of doing business, but it is scary none the less. Smithy.

[ChuteTheMall]

Never buy the early production runs of anything; let's see how the prototypes hold up in tests first.

 

If they can't even build and test the prototypes, they just aren't for real.

[Creeker, SASS #43022]

Blaming skeptical, potential customers for a poorly crafted business plan exposes both arrogance and the reason why this will never happen. Market 101 - a market must exist.

 

Oh, I believe a market does exist for the PRODUCT.

 

But when you give a deposit on a product that does not exist - You are not purchasing a product - you are giving an unsecured loan based on the promise that your item will someday exist. And at that time - you will be offered the opportunity to get one.

 

This is not the same as ordering a one off custom item - no matter what their website might say, the MH were going to be a production gun with certain offered variations and accessories.

 

I can go to the Chevrolet dealer and order a vehicle in any given color, interior materials, wheel and tire combinations and while that car may not currently exist in that specific configuration - all the parts are available and it is simply a matter of bolting them together in the desired manner.

I am willing to give the Chevy dealer some money ahead of time, because I know the parts already exist.

 

But if the lot was empty - no one had ever seen a Chevy and they couldn't tell me when one would be built?

I think I would hold on to my money with both hands and back away quickly.

[Smithy]

But if the lot was empty - no one had ever seen a Chevy and they couldn't tell me when one would be built?

I think I would hold on to my money with both hands and back away quickly.

 

I see your point Creeker, but didn't at least one or two if not a few of the guns get produced? I'm wondering how the pictures and close ups of barrels and such were made for their literature and web sites if they did not make a few guns or maybe "gun models?". The guns look too shiny and pristine to be originals from back when is my only thought. Smithy.

[Lone Dog, SASS #20401]

Those "guns" you think you are seeing in the ads are computer generated.

 

Vaporware.

 

Look real. Ain't.

 

None have been produced or we would have seen them.

 

None. Nada. Zero.

 

There may be mules. There may be mock-ups. But NO production guns.

 

Or, I maintain, we would have seen them. And they would be being highly touted.

[Larsen E. Pettifogger, SASS #32933]

I think the notion that there are "thousands" of potential customers is way off. Colt only sells a little over 3000 Single Actions a year and USFA only a little over 1600. The market for the Merwin wouldn't be a fraction of those totals. I don't think any company can gear up to produce a single product and survive only making a hundred or two hundred guns a year.

[farrow]

Those "guns" you think you are seeing in the ads are computer generated.

 

Vaporware.

 

Look real. Ain't.

 

None have been produced or we would have seen them.

 

None. Nada. Zero.

 

There may be mules. There may be mock-ups. But NO production guns.

 

Or, I maintain, we would have seen them. And they would be being highly touted.

 

Absolutely spot on - there are no guns. Comparing this nostalgic pipe dream to Ruger or Chevrolet is a major stretch. There are no employees, or buildings or equipment. There may be a market but it is hardly large enough to support the investment (equipment, employees, buildings, advertising, insurance, etc.). This project never penciled and never will. Deposits were used to fund a dreamer's folly.

[Prof. Fuller Bullspit]

To be fair, there have been pictures of machined frames and other parts. I haven't see a picture of an assembled gun yet.

 

I am hoping that this venture will bear fruit. I think a pair of M&H guns would be a lot of fun to shoot.

[Joe LaFives #5481]

The price point would dictate the number of units sold. It would be a worthwhile survey to see how many would buy an M&H that was as solid as a Ruger for the same price as a Vaquero. I suspect , however, their price point is more in the Colt SAA range. Reminds me of the folks that made the Remington clones a couple years back. Apparently very well made but also very expensive.

[Ranger Sgt. Jake McCandless #3368]

Why does M&H remind me of this http://www.bren-ten.com/website/id2.html as I recall other folks lost their non refundable deposits and a few luck folks actually have one. Adios Sgt. Jake

[Doc Flimshaw Sass# 73310]

Why does M&H remind me of this http://www.bren-ten.com/website/id2.html as I recall other folks lost their non refundable deposits and a few luck folks actually have one. Adios Sgt. Jake

Sure seems like a lot the same, deja vous all over again

[Grouchy Greg, SASS#71981]

I was tempted by the Merwin, but hung on to my gun money and spent it on a Schofield instead. At least I have something to show for it, and in my lifetime too.

[Smithy]

I was tempted by the Merwin, but hung on to my gun money and spent it on a Schofield instead. At least I have something to show for it, and in my lifetime too.

 

Being a fan of both guns, a consensus vote for the "smart money" would have to be on the Schofield then correct? Smithy.

[Utah Bob #35998]

Oh, I believe a market does exist for the PRODUCT.

 

But when you give a deposit on a product that does not exist - You are not purchasing a product - you are giving an unsecured loan based on the promise that your item will someday exist. And at that time - you will be offered the opportunity to get one.

 

This is not the same as ordering a one off custom item - no matter what their website might say, the MH were going to be a production gun with certain offered variations and accessories.

 

I can go to the Chevrolet dealer and order a vehicle in any given color, interior materials, wheel and tire combinations and while that car may not currently exist in that specific configuration - all the parts are available and it is simply a matter of bolting them together in the desired manner.

I am willing to give the Chevy dealer some money ahead of time, because I know the parts already exist.

 

But if the lot was empty - no one had ever seen a Chevy and they couldn't tell me when one would be built?

I think I would hold on to my money with both hands and back away quickly.

 

Bingo! They are relying on gun fanciers' enthusiasm for something new, dangling the shiny idea in front of us like a lure in front of a bass. But it's only an idea so far and I'm not biting.

I'll stay under the log with the other old Bass until I see an actual worm.

[Long Branch Louie]

I've said this before, I've been in the metalworking business all my life. If some type of drawings exist and they have CNC equipment, I can't possibly see why it would take forever to at least make some prototypes. We build $200,000.00 injection molds, designed from scratch, and while frames and pins, etc. are purchased, these could be made if necessary. First off stuff may not be what will eventually be produced, but that's why you make it...to see what revisions are needed.

[Buffalo Dick, SASS #12880]

I wonder who the "management team" consists of? Michael Blank was a securities and options trader who says he quit his job in 2006 to save the Winchester factory. Since 2006 he has been a self-styled "consultant to the firearms industry." I don't think that guy has any credentials or experience in the development or production of firearms. The Sharps Rifle Company has no manufacturing capability but apparently had some AR receivers produced with their trademark by an outside source. Many of these receivers ended up being sold at very low prices by places such as CDNN-the same company that ended up selling the remaining stock of Chaparral rifles, again at huge discounts. I don't know if the Sharps Rifle Company has actually produced any of the very pricey AR pattern rifle they are trying to market but they have solicited deposits for them.

 

It's funny how the current Henry company has caught so much flak for the use of that name, yet no one seems as upset that Blank picked up the name Sharps Rifle Company and acts as if his company is a continuation of the original. They also picked up the name of the famous leather maker H.H. Heiser, although I don't think they are producing anything. I also read recently where Blank was trying to acquire the right to use the names Volcanic Repeating Arms and Curtis and Harvey.

 

A-Square is also a part of Blank's group and has actually produced rifles but they were established long before any association with Blank. That company got a lot of financial incentive from Glenrock to relocate their production facility there. After years of delays and countless missed deadlines, they are actually producing some rifles there but the founder, Art Alphin, has been indicted for fraud for allegedly falsifying documents relating to workforce grants sought in conjunction with the relocation.

 

While Blank represents Sharps Rifle Company as the umbrella company of a firearms manufacturing conglomerate there is little substance to his companies-some famous names and a few employees each with virtually nothing being produced.

[Quick Will Lee]

If they have done the "engineering" and built the "tooling" then someone somewhere ought to be able to make some parts.

 

Although if the sister company is named Sharps and they made some AR parts it would be kind of funny if your MH arrives as a polymer 9mm.

[Widder, SASS #59054]

I wonder who the "management team" consists of? Michael Blank was a securities and options trader who says he quit his job in 2006 to save the Winchester factory. Since 2006 he has been a self-styled "consultant to the firearms industry." I don't think that guy has any credentials or experience in the development or production of firearms. The Sharps Rifle Company has no manufacturing capability but apparently had some AR receivers produced with their trademark by an outside source. Many of these receivers ended up being sold at very low prices by places such as CDNN-the same company that ended up selling the remaining stock of Chaparral rifles, again at huge discounts. I don't know if the Sharps Rifle Company has actually produced any of the very pricey AR pattern rifle they are trying to market but they have solicited deposits for them.

 

It's funny how the current Henry company has caught so much flak for the use of that name, yet no one seems as upset that Blank picked up the name Sharps Rifle Company and acts as if his company is a continuation of the original. They also picked up the name of the famous leather maker H.H. Heiser, although I don't think they are producing anything. I also read recently where Blank was trying to acquire the right to use the names Volcanic Repeating Arms and Curtis and Harvey.

 

A-Square is also a part of Blank's group and has actually produced rifles but they were established long before any association with Blank. That company got a lot of financial incentive from Glenrock to relocate their production facility there. After years of delays and countless missed deadlines, they are actually producing some rifles there but the founder, Art Alphin, has been indicted for fraud for allegedly falsifying documents relating to workforce grants sought in conjunction with the relocation.

 

While Blank represents Sharps Rifle Company as the umbrella company of a firearms manufacturing conglomerate there is little substance to his companies-some famous names and a few employees each with virtually nothing being produced.

 

 

Howdy BD.

 

They 'produce' a good lookin AD in the Chronicle.

 

My $$$ is staying in MY pocket!

 

 

..........Widder

[Ranger Sgt. Jake McCandless #3368]

Howdy BD.

 

They 'produce' a good lookin AD in the Chronicle.

 

My $$$ is staying in MY pocket!

 

 

..........Widder

Wise man that Widder! Adios Sgt. Jake

[Texas Man]

I have seen this many times before in business. We have an old saying,,,"Put Your momey where Your mouth is". If one is going to build anything now days It takes money to get started. I am more than sure that with todays market there are many companys that would start at once after receiving start up money to get under way.

 

In My business, Heavy Constuction, I have had any a time when some dude wanted me to move farward and invest my equitment and time and money only to become a "Partner" who has invested nothing but his mouth and later wants to share in the profit later.

 

It Takes Money to produce a product, Pure and Simple.

 

As one who has owned and now owns Mervin & Hulbert Revolvers I would love to see someone make them again. As history of the past was shown in the day they were not big sellers in the U.S. and that is why so many were sold in Old Mexico. From what I can see, Colt was the largest seller of serious hand guns during that time and Smith and Wesson was secound having sold mostly small caliber handguns. Another reason Merwin and Helbert was so popular in Mexico was that the 44 Henry was very popular there and cheaper than centerfire ammo. Many , Many Henrys and Winchester 66 as well as Colt 1872 44 Rimfires have come out of Mexico and I expect many more are still there and in the step to go to centerfire the Mervin & Herbert was a cheaper way to go than a Colt at the time.

 

I have a 38 caliber spur trigger Mervin and Hulbert that was carried By Baz Reeves the famous U.S. Marshal as a back-up gun during his years in Indian Territory. I also still have a Silver Pearl handled engraved 38 caliber spur trigger M&H that I took off a Old Mexican Smuggler after he decided to pop a few shots my way years ago with it down on the Rio Grande.

 

Texas Man

[Grouchy Greg, SASS#71981]

Being a fan of both guns, a consensus vote for the "smart money" would have to be on the Schofield then correct? Smithy.

============================================

Can't speak for anyone else, but it was for me. Now, if Uberti will just catch up on their production and shipping so I can finally get the .45 Colt 1858 Remington Conversion I've had on order since March, I'll be a happy camper!

[Utah Bob #35998]

Just received this e-mail

Dear Merwin, Hulbert & Co Customers, Collectors and Friends,

 

 

Before we get into the progress in production, I want to address the change in the leadership of the Merwin, Hulbert & Co project. As some of you may or may not know, I started this odyssey back in 2006. After receiving almost unanimous discouragement from most folks in the manufacturing industry and the experts in the collector world I decided I had hit upon an idea worth following up on, for if one thing is almost certain in the world its if all the insiders and experts think something is a lousy idea, its probably worth its weight in gold. Along the line, Al Jones joined the project and for the last 3 years has been involved in the company and for the last 2 years did a lot of the heavy lifting and communication building. In fact he help setup this service that I'm using to talk to you now. Merwin's return definitely owes a page or two in the history books to Al. Another almost

universal truth to go with the one above is that things change and teams change and as many of you may have heard, Al has left the team. I know this is concerning to many, perhaps borderline scary if you've got a full paid order in place, however, I wanted to contact you all to reassure you that Al's departure doesn't effect manufacturing in anyway. Al is a jack of many trades, however he wasn't involved in running the machines, handling the fitting, or engineering, so production is unaffected. I'm going to step back in to direct control over this division I started so hopefully I can fulfill Al's roll without much interruption. As time goes on I'll introduce other members of the team that have been in the background during this time that you can speak with as well.

 

Now on production, perhaps the biggest mistake we've made to date, and as the CEO I have to step up here and say the biggest mistake I permitted to happen for lack of more definitive intervention was the setting of delivery dates. This was never permitted under company policy. I've been around this industry my whole life and the one thing that gun companies are unilaterally guilty of and perhaps notorious for are unkept delivery dates. How long was Ruger suppose to come out with a 10/17 in 17 HMR? How about the Winchester 94 takedowns? How many times did that not happen? I even have the 2006 Catalog with lovely pictures of that one. Add to it that we are a small "new" player and up pop onerous images of other companies like Dan Wesson that failed multiple times, Wildey who was eaten alive by his own investors a few times, Fletcher-Bidwell Spencers and the list continues. So, I

thought I was clear as to why we wouldn't do the same damn thing, yet here we are. The only fix to this that I can see, and I have to say I've been "test marketing" since yesterday in the 50 or so emails I answered directly before getting this system back online is to tell the complete truth of where we are at, what's take up our time and where we are going.

 

Many of you have already seen pictures of our frames, side plates, trigger guards, hammers, triggers, etc. Yes, we have all of those done. Cylinders are done as well. Barrels forgings are now in as well. Where we are at, at this very second, is the center Cylinder pin/post. In the Merwin this is a fairly significant part as it attaches via threads directly to the frame and holds not only the cylinder, but the barrel as well. Finally, the rim that extracts the cartridges is part of the back side of this pin and through that same shroud the hand that advances the cylinder passes in a vertical slot in the circular ring that contacts the rim of the cartridges. A lot of machining for what on something like a Colt is just a simple pin you could substitute with a nail if you had to. So this would seem fairly simple still, just machine it and thread it and thread the frame and screw them

together. However, the issue here is the timing. Like that vertical cut for the hand, if that is off by a tiny amount the hand will bind and wear and the cylinder won't advance properly. Don't forget the cuts under the cylinder or out along the barrels travel area, those have to be oriented as well. Okay, so a simple solution would seem to be to thread it, tighten and mark it, then unscrew, machine and re-attach. Yes, this works, but what if your center pin breaks. We are using a far stronger alloy than the originals, but still this is one area, especially on open tops that we've seen a lot of damage as after all its a long thin post with cuts out of it. with the barrel unlocked its unsupported. Trip midway through an ejection cycle and hit in the right spot and it could bend or break no matter what we make it out of. If we used the process I just described the only option is to have it

sent in and have a new part mated to it as the process above only makes a custom part, so no center pin is interchangeable with any other center pin. Don't like the sound of that? Neither do I. I'd much rather know that the center pin on a revolver made today could be replaced by one made 10 years from now. This requires that the threads in the frame start at the same point with in a few thousands and that the same happens on the center pin, with the added difficulty on the pin of all the other cuts having to be timed to the threads. As we have two parts that means the tolerance or "slop" on each part is additive meaning both have to be held to a very tight range or it won't work. Add to this it must be torqued down or "crushed" in so we have to know how much both the pin and/or frame will give with the required torque so it doesn't go out of alignment when we apply the torque. So we've

got timing in the threads which is a machining and setup problem, the other machining on the pin having to line up with the other cuts in the frame, the deflection of the metal under torque, etc. So basically this simple process of threading the pin into the frame becomes a complex item in and of itself. Sure we could go the quicker way I first described, but I haven't been pouring everything I have into this and making you fine folks wait for just what works or what is good enough. I think you are all here because you want the best, and I'm here to make the best. Unfortunately, the best takes time, frequently in ways and delays that can't always be predicted.

 

So in conclusion, I can't give you a firm delivery date. In fact, the next delivery date I want anyone of you to hear is the one on the shipping invoice with tracking number that you'll receive when its sitting on the shipping counter ready to go out to your dealer, or your shop if you are a dealer. What I do plan on doing is using this service that we pay for monthly anyway and actually use it as often as is practical to communicate to you exactly where we are at, what is going on, and what is or isn't done. I apologize to those of you that were given a delivery date as it shouldn't have happened and I hope I've shown can't happen with any accuracy. Once we have all the bugs worked out of the system and are in continual production, then we'll be able to give rough delivery dates followed by certain dates at time of shipping, until then anything I'd say, even with the full picture

on my desk here is nothing more than a guess. I'd rather tell you where we are and leave the guessing up to you. I will tell you from here, even having a completed piece doesn't mean we are a go. We have testers who will ring them out for us and I'll be doing that myself. When I have one with about 5,000 rounds through it without fail, then I will announce we are in full production, until then we are in production line testing. This is a bit different then prototyping as prototyping allows you to use any method you wish. Production line testing is what it sounds like, basically you are testing the manufacturing methods with no cheating allowed.

 

I'll end now by thanking you all for your patience, your enthusiasm, and of course your business. Thank you for taking the time to read this and I look forward to talking to you all again in the near future. I am going on the road to check in with the facilities and suppliers, so if you do write, I'll do my best to get back to you as soon as I can, but I might be delayed a bit over the next week or so. Until then, we'll follow Bat's advice and take our time as quickly as possible in getting these done and ready for you.

 

 

Sincerely,

 

 

Mike

 

Michael H Blank

CEO

Merwin, Hulbert & Co., LLC

[Boon Doggle]

Does anyone smell smoke, or feel warm rain running down the back of their neck?

[farrow]

Hmmm, now there is someone else to blame. What about the promises made by Blank on having guns at Shot? There are no machines! Why not reveal those folks in the background? Put up or shut up....that is not rain on the back of our collective legs.

[Loophole LaRue, SASS #51438]

I know nothing about these people, the company, or where they stand on meeting their obligations; I have not ordered a gun from them.

 

But I have had occasion to deal with a lot of folks who have a very long, complex story to tell about their businesses - and many sound like this fella. Here's my favorite, in condensed format.

 

A fellow approaches, at different times and places, several acqaintences - not close friends, not strangers, but folks he knows well enough to have some credibility. He is all bright and shiny - he announces he has a new business venture - a sure winner, certain to succeed and certain to produce a huge profit. In this case, he has "found" the deal of the century, and no one else recognizes the potential - all the experts in the field are blind. It seems he has come across a racehorse, a mare, for sale in Florida. He has religiously researched the bloodlines, and can cite the lineage, the track records, everything - with all the proper vocabulary - very impressive. He even has some photos - not of the horse now, but in some earlier races. Man, she looks impressive!! Now, here's the twist - the part no one else knows - she's pregnant! He's going to get two horses for the price of one, and the foal promises to be a winner too!!! He cannot contain his excitement!! End Act One (and give the story time to sink in with the acqaintences)

 

Act II - the excited businessman is found in a bit of a blue mood; he is worried and obviously concerned; his acquaintences inquire, and reluctantly, he reveals that there are some problems; the pregnancy has been difficult, and the mare has been confined under the care of a high-end veterinarian; it's very costly, but necessary to preserve his substantial investment (all through this dialogue, the businessman emphesizes that he has put "everything he has" into this deal). Some of the concerned listeners, sensing an opportunity to get in on the action, politely suggest that they might be interested in investing in the deal, but he politely declines, indicating that the deal is "much too risky" to involve his "friends", and he would never think of asking them to share his trouble.

 

Act III - Great news!! Not only is the mare doing better , but the high-priced vet has determined that miraculously, the mare is pregnant with TWINS!!!! Unheard of in the racing world, but now destined to produce a THREE-FOR-ONE deal!!!! The listeners are now drooling over the profit potential - it's a deal they simply MUST share in. They begin to offer again to invest; and explaining that the vet bills, feed and stable bills, and related expenses have been building rapidly, the businessmen begins accepting money from his new "partners". Of course, they'll get it all back, plus profits, when the foals are sold; they will ALL be rich!! Money rolls in to the businessman.

 

Act IV - Bad news; More difficulties with the pregnancy; special feed and care, and more vet visits required; anxious to protect their investments, the new partners contribute more capital to the project. More money rolls into the businessman.

 

Act V - Worse news - The foals are still-born. All efforts now center on saving the mare and her breeding potential. Huge bills for vet and burial of foals. More money paid to the businessman for each "investor's" share of the added expenses.

 

Act VI - The worst occurs - we have lost the mare; the delivery was just too much, and she could not survice. After days of round-the-clock effort (and resulting bills) the vet had to put her down. All investors pay one more round, to clean up the lingering charges.

 

Businessman, after weeks of trips to Florida to monitor the situation, has "lost everything", and is downcast, and eventually moves on. All investors lose their shirts.

 

And there never was a horse.

 

Now, there are lots of honest folks out there, trying to get new businesses off the ground. But there are also lots of guys selling shares in dead horses.

 

Call me when the MH gets tested for the MA approved list.....

 

LL

[Red Gauntlet , SASS 60619]

And presumably the "deposits" are in escrow accounts.....?

[Diamond Dave Anthony]

And presumably the "deposits" are in escrow accounts.....?

 

I don't think Porsche makes an "Escrow."