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Anybody else hear that Keisler closed their doors yesterday - 1/16/2014 ? ?

I would add photos but don't know how...also, how do I start a new thread? You can visit our Facebook page at Legend Gear and Transmission or you can visit our manufacturing facility in Statesville, about 18 miles from Mooresville, NC...we are low profile, real car enthusiasts and you'll be glad you came...our distributor, Spraker Racing, has a Facebook page and website...do yourself a favor and look at our Facebook page, left side, for our response to the Keisler issue...there is soooo much I'd like to share with you but cannot, some of you guys know Galen, he knows me as well...we just may attend the Mopar Nats...we were at SEMA and PRI
As well...we're a pretty well kept secret for obvious reasons...

Bruce Kepley, sales and marketing manager, Legend Gear 704-907-6495

I'm going to sign off now, have to feed ol'Pops & ol'Buddy, but I will try to explain how to, on both those tomorrow If you haven't got it by then...
 
For what it's worth to anyone interested in them, just got my april '14 issue of Mopar Muscle and it's got a writeup on the Passon 5 Speed.
20140123_132640.jpg

Basically says the install is as-advertised, direct bolt in without modifications, gear ratios, what's included with the kit (longer speedo cable, all shifter linkage stuff), and says they've had theirs for over a year thrashing on it with no issues. :shruggy:
 
Anyone else gat one of these emails?

Anyone else get one of these emails?







Last Thursday January 16, I ceased operations of Keisler Engineering Inc by filing it into a Chapter 7 Liquidation Bankruptcy. This was a sad day for our customers, vendors, employees and families, many of which had been with us for 5-10 years. And this brought to a close a 22 year long run of the company I started in my garage in 1991 that grew to become the innovator and leader of the 5-speed overdrive transmission market for muscle cars and Corvette.



Why Close Keisler Engineering Now?



The decision to close Keisler Engineering Inc in Chapter 7 Liquidation is covered in some detail on our Facebook page here. Another reason why I decided to place the company into a Chapter 7 liquidation type bankruptcy was to cleanse the assets of the liabilities that were preventing the company from thriving financially as well as providing the highest level of customer service our customers deserved. The liabilities and overhead of KE coupled with my own personal financial liabilities that lingered from the $4 Million acquisition of GM's Muncie Transmission equipment purchase in 2006 made it impossible for me to bring in financing and working capital needed to get KE operating in the "sweet spot" where orders ship 100% complete and with quick delivery. It was time to hit the START OVER button - both for the company and myself to get out of the financial entanglements. As of January 16 2014, that process of start over has begun.



The closing of the company and the many vendors and customers affected rests completely on my shoulders as the President & CEO. There is no good time when it comes to closing a company, but it was my fiduciary duty to take the action needed to prevent further loss to the customers and vendors. From Dec 6 to approximately Jan 15, more than 122 transmission orders were shipped out the door, plus a whole lot of parts orders. We finished out the 2013 year with over 1,000 transmissions shipped. Had we completed all orders on the books at the time of closure the number would have been closer to 1,300 transmissions. About half of the unfilled units were SS700 which I came to the conclusion would be impossible to fill swiftly.



What Happens to Keisler Engineering in Chapter 7 Bankruptcy?



The court assigned Mr. John Newton of Mayer & Newton as the appointed Trustee to Keisler Engineering's case. Mr. Newton has determined it is in the best interest of the creditors that Keisler Engineering be sold as either:

1) Complete & Fully Intact Operation Asset, OR

2) grouped assets that comprise the whole operation



This means the Buyer(s) could purchase the Assets including the Trademarked name, website, customer list, designs and inventory ... everything - clean and free of any Liabilities or entanglements, and put them back to work at the same facility or a facility of the Buyer's election. There is more than $400,000 of Inventory assets. And there are important pieces of machinery such as the Spin Test Machine.



Mr. Newton further states that he would like to select a Buyer in the coming 4-6 weeks, and get the sale approved by the Court in swift fashion.



There is a small amount of component parts product ready to ship, like special order driveshafts, that Mr. Newton would like to get shipped to customers in the coming 1-2 weeks.



Who can be a Buyer of the Keisler Engineering Operation?



YOU can be a Buyer. There are NO restrictions. If you are a Creditor to KE in the Ch7 Schedule F, you can be a Buyer. But your Creditor claim amount does not serve to "credit bid" meaning new money would need to be provided.



The operation can be started in the existing facility immediately, or preferably relocated to a smaller facility nearby with lower overhead, or even moved out of state. Most of the Keisler Engineering employees are available to be hired as of January 23. I am also available to support the start-up and long term go-forward.



IF YOU WANT TO SEE A NEW COMPANY FORM TO CONTINUE THE PRODUCT LINE OF KEISLER ENGINEERING AND HELP CUSTOMERS GET THEIR ORDERS FILLED, then skip down to the next section now.



While we wait to see the outcome of the KE Operation Asset Sale, some of you may be seeking to purchase a Keisler transmission kit. In Dec 2013, I sold the Keisler PerfectFit TKO 5-speed and T56 6-speed kit lines to Craig Liberty at Liberty Gear, please contact:



Liberty's High Performance Products, Inc.
6390 Pelham Road
Taylor, Michigan 48180
Phone (313) 278-4040
Fax (313) 381-2411
www.libertysgears.com

Tremec ELITE Distributor



I will update everyone just as soon as possible with more developments.



ALL INQUIRIES ABOUT KEISLER PRODUCT OR TECHNICAL SUPPORT SHOULD BE DIRECTED TO ME. EMAIL REPLIES WILL BE SLOW AT THIS TIME. THE PHONES ARE NOT BEING MANNED AT THIS TIME. THE WEB REQUEST FOR QUOTE PAGE IS CURRENTLY NON-OPERATIONAL SINCE DEC 17 2013 AND WILL NOT BE FIXED AT THIS TIME. I am the only one manning the company at this time (with no compensation) until Trustee John Newton can implement more help. You may reach Mr. Newton at the following:

John Newton, Trustee for KE Inc Case 14-30100

Mayer and Newton

1111 N Northshore Dr, Knoxville, TN 37919
(865) 588-5111 ** do not call; email him only **

[email protected]



Again, I am sorry to bring this news and that I could not do a better job to maintain the KE Inc in operation. But, as you read my lengthy posts on Facebook, you will understand that closure of the company to move forward was in the best interest of everyone.



Happy Motoring,



Shafi Keisler <mailto:[email protected]> , Pres/CEO [email protected]
 
Around $4400 is ringing a bell from the thread you mentioned... I'll see if I can find it

- - - Updated - - -

Here's the thread

http://www.forbbodiesonly.com/mopar...nning-an-A-833-behind-a-GIII&highlight=passon

I was pretty close:

"The cost was $4295 for all those who were initially on his list. The current cost is $4495."

Shafti was calling customers asking for their $$$$$ to get them in line for manufacture right up to 1/15/14 according to some guys on the Vette forums

This all started 3 years ago & Shafti has went on facebook with a politician type apology blaming a host of people he owes money to or did at one time for all that he has done

They're taking everything right down to the feed for his livestock according to the original filing 3 years ago

He knew all of this was going to happen

Legend gear has a distributor for the SS700 that they make
 
Anyone else gat one of these emails?

Anyone else get one of these emails?

Yup, got the same email. We weren't a fan of their customer service either. Guess we got our last order in the nick of time. American Powertrain is our main source now.....
 
I got one! Read it with my morning cup of joe. I guess I don't have to worry about Shafi reading my posts about my experiences with the product (both good and bad) and then writing bitch letters to my my boss anymore. Oh, wait, I quit that job and wasn't worried anyhow.....
 
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