User Panel
User Panel
User Panel
|
Posted: 6/28/2014 4:45:40 AM EDT
[#1]
Quote HistoryQuoted:
It should be interesting to see if the bank does grant a month or two postponement. I can't imagine if so that the shop's inventory will be improved (and in reality likely even worsened. Given the speed, I'm wondering if the bank just wants to wash its hands of a class III shop mired in, as you put it, "signs." Quote HistoryQuoted:
Quoted:
I wonder if icon bank delays foreclosure with the receiver taking charge. It should be interesting to see if the bank does grant a month or two postponement. I can't imagine if so that the shop's inventory will be improved (and in reality likely even worsened. Given the speed, I'm wondering if the bank just wants to wash its hands of a class III shop mired in, as you put it, "signs." I wouldn't be surprised if Wilson had something worked out with the bank and the receivership was a precondition of any agreement. It's probably better for the bank to not have to foreclose, but they probably felt that with Alcede in charge they didn't have a choice. |
|
|
|
Posted: 6/28/2014 7:04:41 PM EDT
[#2]
Maybe the bank isn't anti 2nd. It's just anti alcede?
|
|
|
|
Posted: 6/28/2014 7:59:04 PM EDT
[#3]
Quote HistoryQuoted:
Maybe the bank isn't anti 2nd. It's just anti alcede? May be, especially if there is any truth about a bank board member launching his own gunshop/range. |
|
|
|
Posted: 6/28/2014 8:02:44 PM EDT
[#4]
from another forum
Originally Posted by nwall1 View Post
My buddies dad is Steven coe wilson. The man who put up the 30% and is now pulling out. By him doing that the bank is also pulling out. Im pretty sure he just dosent want to continue business with people like them. His lawyer will be on 950 am this afternoon discussing it all Quote: Originally Posted by nwall1 View Post Well turns out owners of tactical have been blowing money like crazy well over 100k on cars vacations jewerly and other items. And taking 30k a month under the table and not reporting it or putting it back in the company and mr wilson hasn't seen a cent of his investment back so he is pulling his 30 percent and the bank is pulling as well. they are scam artist |
|
|
|
Posted: 6/28/2014 8:03:34 PM EDT
[#5]
Which forum
|
|
|
|
Posted: 6/28/2014 9:48:15 PM EDT
[#6]
Quote HistoryQuoted:
Which forum I just pasted the quote into Google and found: http://www.houston-imports.com/forums/showthread.php?p=12978828 No clue if original or accurate. Interestingly enough, if you click the link in the quote in the link above, the original seemed to have been made in a restricted forum or deleted. |
|
|
|
Posted: 6/29/2014 4:12:05 AM EDT
[#7]
MotoHouston
|
|
|
|
Posted: 6/29/2014 3:40:34 PM EDT
[#8]
Quote HistoryQuoted:
from another forum Quote HistoryQuoted:
from another forum Originally Posted by nwall1 View Post
My buddies dad is Steven coe wilson. The man who put up the 30% and is now pulling out. By him doing that the bank is also pulling out. Im pretty sure he just dosent want to continue business with people like them. His lawyer will be on 950 am this afternoon discussing it all Quote: Originally Posted by nwall1 View Post Well turns out owners of tactical have been blowing money like crazy well over 100k on cars vacations jewerly and other items. And taking 30k a month under the table and not reporting it or putting it back in the company and mr wilson hasn't seen a cent of his investment back so he is pulling his 30 percent and the bank is pulling as well. they are scam artist If true, I just scratch my head. The range itself is quite popular, and long term, he likely would have made far, far more than he is accused of siphoning. I just don't get the endgame of taking a small quick profit now and potentially killing off future opportunities. |
|
|
|
Posted: 6/29/2014 4:48:35 PM EDT
[#9]
Quote HistoryQuoted:
If true, I just scratch my head. The range itself is quite popular, and long term, he likely would have made far, far more than he is accused of siphoning. I just don't get the endgame of taking a small quick profit now and potentially killing off future opportunities. Quote HistoryQuoted:
Quoted:
from another forum Originally Posted by nwall1 View Post
My buddies dad is Steven coe wilson. The man who put up the 30% and is now pulling out. By him doing that the bank is also pulling out. Im pretty sure he just dosent want to continue business with people like them. His lawyer will be on 950 am this afternoon discussing it all Quote: Originally Posted by nwall1 View Post Well turns out owners of tactical have been blowing money like crazy well over 100k on cars vacations jewerly and other items. And taking 30k a month under the table and not reporting it or putting it back in the company and mr wilson hasn't seen a cent of his investment back so he is pulling his 30 percent and the bank is pulling as well. they are scam artist If true, I just scratch my head. The range itself is quite popular, and long term, he likely would have made far, far more than he is accused of siphoning. I just don't get the endgame of taking a small quick profit now and potentially killing off future opportunities. People are greedy and stupid. I know a guy who is sitting in jail for the next 15 years for embezzling $3million from his company. He would be pocketing that monthly today if he hadn't been greedy a few years ago. Posted Via AR15.Com Mobile |
|
|
|
Posted: 6/30/2014 6:21:57 AM EDT
[#10]
http://ksevradio.com/hosts/chris-salcedo
6-30-14 7am podcast about 1 min in. Seems he is still blaming the government for not renewing the loan. Saying that the bank was under scrutiny from the government. |
|
|
|
Posted: 6/30/2014 10:55:45 AM EDT
[#11]
Quote HistoryQuoted:
If true, I just scratch my head. The range itself is quite popular, and long term, he likely would have made far, far more than he is accused of siphoning. I just don't get the endgame of taking a small quick profit now and potentially killing off future opportunities. Quote HistoryQuoted:
Quoted:
from another forum Originally Posted by nwall1 View Post
My buddies dad is Steven coe wilson. The man who put up the 30% and is now pulling out. By him doing that the bank is also pulling out. Im pretty sure he just dosent want to continue business with people like them. His lawyer will be on 950 am this afternoon discussing it all Quote: Originally Posted by nwall1 View Post Well turns out owners of tactical have been blowing money like crazy well over 100k on cars vacations jewerly and other items. And taking 30k a month under the table and not reporting it or putting it back in the company and mr wilson hasn't seen a cent of his investment back so he is pulling his 30 percent and the bank is pulling as well. they are scam artist If true, I just scratch my head. The range itself is quite popular, and long term, he likely would have made far, far more than he is accused of siphoning. I just don't get the endgame of taking a small quick profit now and potentially killing off future opportunities. This were the same people who were on the radio voicing support for a ban on online ammo sales. It would have boosted sales for them. I guess they take after Michael Moore. It's ok to have freedom as long as they approve of it. |
|
|
|
Posted: 6/30/2014 2:06:27 PM EDT
[#12]
Sounds like there was allegedly some filthy shit going on....
|
|
|
|
Posted: 6/30/2014 3:46:21 PM EDT
[#13]
Quote HistoryQuoted:
Sounds like there was allegedly some filthy shit going on.... Beyond what is in the filings? |
|
|
|
Posted: 6/30/2014 5:31:33 PM EDT
[#14]
Quote HistoryQuoted:
People are greedy and stupid. I know a guy who is sitting in jail for the next 15 years for embezzling $3million from his company. He would be pocketing that monthly today if he hadn't been greedy a few years ago. Posted Via AR15.Com Mobile Exactly, Just look at the Big Board. |
|
|
|
Posted: 6/30/2014 7:33:29 PM EDT
[#15]
Quote HistoryQuoted:
Exactly, Just look at the Big Board. Quote HistoryQuoted:
Quoted:
People are greedy and stupid. I know a guy who is sitting in jail for the next 15 years for embezzling $3million from his company. He would be pocketing that monthly today if he hadn't been greedy a few years ago. Posted Via AR15.Com Mobile Exactly, Just look at the Big Board. The big board? Tactical firearms has announced a big announcement on their facebook page. Wonder what it could be? An angel investor? |
|
|
|
Posted: 6/30/2014 7:38:43 PM EDT
[#16]
Quote HistoryQuoted:
The big board? Tactical firearms has announced a big announcement on their facebook page. Wonder what it could be? An angel investor? Quote HistoryQuoted:
Quoted:
Quoted:
People are greedy and stupid. I know a guy who is sitting in jail for the next 15 years for embezzling $3million from his company. He would be pocketing that monthly today if he hadn't been greedy a few years ago. Posted Via AR15.Com Mobile Exactly, Just look at the Big Board. The big board? Tactical firearms has announced a big announcement on their facebook page. Wonder what it could be? An angel investor? If it's an angel investor, he/she will be stepping into a lawsuit and a business where questionable practices are claimed. Sounds like a match made in hell if true. |
|
|
|
Posted: 6/30/2014 7:38:46 PM EDT
[#17]
I am thinking . . . . . What can save this? What can stop the madness?
Bankruptcy! So . . Is the big announcement a bankruptcy filing? Can Jeremy file bankruptcy for the LLC when a receiver has been appointed? Guess we see tomorrow. Tune in . . . Same batshit crazy time . . . . Same batshit crazy channel! |
|
|
|
Posted: 6/30/2014 7:41:52 PM EDT
[#18]
And snap
Ctli, Llc Court Texas Southern Bankruptcy CourtCase number 4:14-bk-33564Assets$0 to $50,000Liabilities$0 to $50,000JudgeJeff BohmChapter 11Filed Jun 27, 2014Type voluntaryUpdated Jun 30, 2014Last checked Jun 30, 2014 Creditors You must log in to see creditors. Quick Links PACER Links Menu* MANTA Search Google Search Google Search w/ State * Requires PACER Account Parties Debtor CTLI, LLC 1200 S Mason Road Katy, TX 77450 HARRIS-TX Represented By Kimberly Anne Bartley Waldron & Schneider, L.L.P. 15150 Middlebrook Drive Houston, TX 77058 281-488-4438 Fax : 281-488-4597 Email: [email protected] U.S. Trustee US Trustee Office of the US Trustee 515 Rusk Ave Ste 3516 Houston, TX 77002 713-718-4650 Docket Jun 27 #1Chapter 11 Voluntary Petition. Fee Amount $1717. Filed by CTLI, LLC. (Bartley, Kimberly) (Entered: 06/27/2014) Jun 27Receipt of Voluntary Petition (Chapter 11)(14-33564) [misc,volp11a] (1717.00) Filing Fee. Receipt number 15933954. Fee amount $1717.00. (U.S. Treasury) (Entered: 06/27/2014) |
|
|
|
Posted: 6/30/2014 7:45:17 PM EDT
[#19]
Quote HistoryQuoted:
The big board? Quote HistoryQuoted:
Quoted:
Quoted:
People are greedy and stupid. I know a guy who is sitting in jail for the next 15 years for embezzling $3million from his company. He would be pocketing that monthly today if he hadn't been greedy a few years ago. Posted Via AR15.Com Mobile Exactly, Just look at the Big Board. The big board? sorry, check Texaspyro21's avatar. 
I was agreeing with him about people being greedy and stupid. |
|
|
|
Posted: 6/30/2014 7:51:08 PM EDT
[#20]
Lol . . . I thought that was a dr. Strangelove reference
|
|
|
|
Posted: 6/30/2014 7:58:55 PM EDT
[#21]
Quote HistoryQuoted: Lol . . . I thought that was a dr. Strangelove reference Edit- the podcast on the last page has jeremy talking about the bankruptcy filing.
|
|
|
|
Posted: 6/30/2014 8:01:42 PM EDT
[#22]
Quote HistoryQuoted:
Careful jeremy may tell you that you're wrong Quote HistoryQuoted:
Quoted:
Lol . . . I thought that was a dr. Strangelove reference Well . . . According to him I haven't done a gun trust for years because he put me out of business with his free trusts . . . Oh . . . And he was the largest suppressor desire in the state of Texas , . . . If you believe his hype. Maybe that's his problem . . . He started believing his one hype. Intersting thing I noted was his announcement of a big announcement on his facebook page. . . . . |
|
|
|
Posted: 6/30/2014 8:09:17 PM EDT
[#23]
That's funny . . . . I just got banned from posting on tactical firearms facebook page.
I posted the bankruptcy news . . . . . Lol. Someone should post that bankruptcy info back up. I guess that's part of the big announcement and I stole his surprise . . . . |
|
|
|
Posted: 6/30/2014 8:33:15 PM EDT
[#24]
Crap . . . . If he filed bankruptcy . . . . All those people who have cans in transfer just became unsecured creditors!
|
|
|
|
Posted: 6/30/2014 10:02:09 PM EDT
[#25]
Quote HistoryQuoted:
Crap . . . . If he filed bankruptcy . . . . All those people who have cans in transfer just became unsecured creditors! That is some big time suck. Sure glad I always use the Silencer Shop. Reading those filings is crazy. It will be interesting to see where this goes. I hope the folks in the NFA process don't get hosed, though it pretty much looks like they are sunk. |
|
|
|
Posted: 7/1/2014 4:16:24 AM EDT
[#26]
He's been blabbing on fox26news this morning.
Sorry, but there's too much hubub here in he AM for me to get a gist of what he's crying about. Thanks to whoever reminded me of why I hate ruger! |
|
|
|
Posted: 7/1/2014 4:40:05 AM EDT
[#27]
So . . . He is the largest firearms dealer in Texas now?
He is now an ammunition manufacturer? Okay, so now he is going to take over the bad systems plant to produce ammo? Has all to tools and equipment? But can't get financing for his 6.5mill loan on his store and range? All out of chapter 11. Well stranger things have happened. |
|
|
|
Posted: 7/1/2014 4:40:14 AM EDT
[#28]
He said on fox26 today, that he is opening an ammo manufacturing plant in Sealy at the old BAE facility. Said he's creating 350 jobs, and Gov. Perry had recent spoken with him about it.
We will see how that goes... |
|
|
|
Posted: 7/1/2014 4:47:25 AM EDT
[#29]
Quote HistoryQuoted:
He said on fox26 today, that he is opening an ammo manufacturing plant in Sealy at the old BAE facility. Said he's creating 350 jobs, and Gov. Perry had recent spoken with him about it. And I hope he is successful since that area could use the jobs but I'll believe it when I see it. My real question is if he can't find/get a few million for the shop, how is he going to find funding for the ammo plant? Posted Via AR15.Com Mobile |
|
|
|
Posted: 7/1/2014 4:47:44 AM EDT
[#30]
yeah . . . . This gets stranger and stranger. He he missed the boat on the ammo bubble. i wonder whose machines he will be using to make the ammo? where will he get the components from? the financing? |
|
|
|
Posted: 7/1/2014 4:53:14 AM EDT
[#31]
If a receiver was appointed, does Alcede even have the power to sign (and thus to file a bankruptcy case) on behalf of Tactical Firearms? It's a bare-bones petition filed just before foreclosure, so I'm guessing the lender didn't pass on the foreclosure sale today. On the other hand, it landed in Judge Bohm's court. He's a hardass, can cite case law from memory, and doesn't suffer fools lightly. He isn't going to allow the shenanigans that can go on in state court, for sure.
|
|
|
|
Posted: 7/1/2014 5:29:39 AM EDT
[#32]
Can anyone go by there this AM and see if the doors to the Gun Shop are open or closed?
|
|
|
|
Posted: 7/1/2014 5:29:59 AM EDT
[#33]
That's the question I have. If a re irvey is appointed can alcede file?
Did alcede file the chpt 11? |
|
|
|
Posted: 7/1/2014 5:32:01 AM EDT
[#34]
Quote HistoryQuoted:
Can anyone go by there this AM and see if the doors to the Gun Shop are open or closed? The chpt 11 stopped the foreclosure. Alcede is talking to fox from the shop So I surmise they are open. The ammo thing . . . . Lol . . . Not such a big announcement . . . . He's been telling people about those plans for awhile now. |
|
|
|
Posted: 7/1/2014 5:36:26 AM EDT
[#35]
Add me to the list of folks who can't post on the FB page anymore\got comments deleted for asking tough questions.
|
|
|
|
Posted: 7/1/2014 5:50:45 AM EDT
[#36]
Quote HistoryQuoted:
That's the question I have. If a re irvey is appointed can alcede file? Did alcede file the chpt 11? Yeah he filed it. I'm sure the authority to file issue will be litigated in bankruptcy court (likely via a motion to dismiss by the receiver). IMO the filing was necessary regardless of who filed, a foreclosure would have made everything moot for all parties. |
|
|
|
Posted: 7/1/2014 6:22:43 AM EDT
[#37]
Quote HistoryQuoted: He said on fox26 today, that he is opening an ammo manufacturing plant in Sealy at the old BAE facility. Said he's creating 350 jobs, and Gov. Perry had recent spoken with him about it. We will see how that goes...  |
|
|
|
Posted: 7/1/2014 7:25:36 AM EDT
[#38]
Quote HistoryQuoted:
Yeah he filed it. I'm sure the authority to file issue will be litigated in bankruptcy court (likely via a motion to dismiss by the receiver). IMO the filing was necessary regardless of who filed, a foreclosure would have made everything moot for all parties. Quote HistoryQuoted:
Quoted:
That's the question I have. If a re irvey is appointed can alcede file? Did alcede file the chpt 11? Yeah he filed it. I'm sure the authority to file issue will be litigated in bankruptcy court (likely via a motion to dismiss by the receiver). IMO the filing was necessary regardless of who filed, a foreclosure would have made everything moot for all parties. agreed. Wonder how long the foreclosure will be held off? Don't foreclosures usually get lifted quickly in bankruptcy? |
|
|
|
Posted: 7/1/2014 7:25:59 AM EDT
[#39]
Those of you that posted on his FB page, would you mind recapping here? Especially if they were baleeted.
|
|
|
|
Posted: 7/1/2014 9:23:47 AM EDT
[#40]
Quote HistoryQuoted:
agreed. Wonder how long the foreclosure will be held off? Don't foreclosures usually get lifted quickly in bankruptcy? Quote HistoryQuoted:
Quoted:
Quoted:
That's the question I have. If a re irvey is appointed can alcede file? Did alcede file the chpt 11? Yeah he filed it. I'm sure the authority to file issue will be litigated in bankruptcy court (likely via a motion to dismiss by the receiver). IMO the filing was necessary regardless of who filed, a foreclosure would have made everything moot for all parties. agreed. Wonder how long the foreclosure will be held off? Don't foreclosures usually get lifted quickly in bankruptcy? Depends. If it's a hopeless case and a single asset real estate entity, I've seen the stay lifted pretty quick. If the debtor has a viable business and it's not a liquidating bankruptcy (and in this case it looks like Tactical Firearms does/did if not for Alcede's action, longer if at all -- the question being whether the company can pay the lender "adequate protection" and catch up in a reasonable time, and even a motion to lift stay if the bank wants to do that can get dragged out for months). Also depends on the bank and its lawyers, and how aggressive they want to be. |
|
|
|
Posted: 7/1/2014 1:20:09 PM EDT
[#41]
From Fox 26's Andrea Watkins on FB.
I understand skepticism. But we did a previous story with Tactical Firearms where they showed they hadn't missed any payments and they had money in bank to cover their bills. It got complicated with the bank when it demanded a refinance and consolidation of 3 loans. Jeremy Alcede explained this morning in earlier segment their offer to sell land and pay off loans w/ cash. He says bank refused to work with them. Yes Chapter 11 is a form of bankruptcy, but it's for reorganizing debts. It protects against negative actions (foreclosure) until creditor claims are satisfied. A fed judge allowed the filing because he could see Tactical Firearms was a viable business, but up against a wall with the bank. As for the ammo manufacturing plant, TF says it's has been working on that nearly a year. Since it was paying it's bills it didn't expect a problem with the bank. Additionally, the last time TF was in touch with Gov. Perry's office was yesterday when Perry's office called them to schedule a meeting. An ammo plant won't have a hard time making money with a national ammo shortage that won't go away. There are many people lined up to invest. If they like TF's business plan, it's their money. This is a complicated situation no doubt. just trying to respond to some of your questions. Thanks for your comments and questions.
|
|
|
|
Posted: 7/1/2014 1:21:25 PM EDT
[#42]
|
|
|
|
Posted: 7/1/2014 2:52:54 PM EDT
[#43]
Pursuant to the video,
1. I will eat my hat if Tactical Firearms is the largest retailer of firearms in Texas. 2. As someone who is partnered with a real live ammunition manufacturer our partners are producing huge numbers of ammo here in TX but pistol powders are near impossible to get in manufacturing volumes (by the 18 wheeler) so from as someone already established I doubt they have the components needed at this time for production. 3. Does that lady have a speech impediment? |
|
|
|
Posted: 7/1/2014 4:56:13 PM EDT
[#44]
Playing Devil's advocate: if my 30% guy was on the board of my bank when he opened his own shop down the road, I would expect to get foreclosed on, too.
|
|
|
|
Posted: 7/1/2014 5:42:33 PM EDT
[#45]
Quote HistoryQuoted:
Pursuant to the video, 1. I will eat my hat if Tactical Firearms is the largest retailer of firearms in Texas. 2. As someone who is partnered with a real live ammunition manufacturer our partners are producing huge numbers of ammo here in TX but pistol powders are near impossible to get in manufacturing volumes (by the 18 wheeler) so from as someone already established I doubt they have the components needed at this time for production. 3. Does that lady have a speech impediment? It's near impossible to get enough pistol powder to feed one's own guns, let alone start up an ammo operation. The powder manufacturers can't keep up with the demands of their existing business relationships. I find the prospect of any one of them starting up a deal with a new ammo business (let alone one headed up by an individual with an, at best, questionable history) in current market conditions a little doubtful. |
|
|
|
Posted: 7/1/2014 5:49:00 PM EDT
[#46]
If he's talking to Perry he may be trying to get a grant from the Texas Enterprise Fund.
|
|
|
|
Posted: 7/1/2014 6:14:07 PM EDT
[#47]
Quote HistoryQuoted:
Playing Devil's advocate: if my 30% guy was on the board of my bank when he opened his own shop down the road, I would expect to get foreclosed on, too. The 30% guy wasn't on the board nor opened a different gun shop. Posted Via AR15.Com Mobile |
|
|
|
Posted: 7/1/2014 7:00:08 PM EDT
[#48]
Quote HistoryQuoted:
Playing Devil's advocate: if my 30% guy was on the board of my bank when he opened his own shop down the road, I would expect to get foreclosed on, too. Except that's not the facts. The guy on the board of the bank owns the foreclosure firm and the gun store The store is on the other side of the world and really isn't a competitor with alcede's store. More fluff and spin and misdirection. |
|
|
|
Posted: 7/1/2014 8:01:58 PM EDT
[#49]
Quote HistoryQuoted:
Except that's not the facts. The guy on the board of the bank owns the foreclosure firm and the gun store The store is on the other side of the world and really isn't a competitor with alcede's store. More fluff and spin and misdirection. Quote HistoryQuoted:
Quoted:
Playing Devil's advocate: if my 30% guy was on the board of my bank when he opened his own shop down the road, I would expect to get foreclosed on, too. Except that's not the facts. The guy on the board of the bank owns the foreclosure firm and the gun store The store is on the other side of the world and really isn't a competitor with alcede's store. More fluff and spin and misdirection. So, where is the store? Is it literally on the other side of the world? I don't like How Alcede treated us regarding online ammo sales, I've only bought one rifle from the store and have no other opinion on the matter. He obviously has big dreams and no business sense whatsoever. I can't purchase a damn thing on a company PO without accounting wanting to know details, how did his employees get away with over purchasing for so long? Sounds like Mr. 30% didn't have a fuckin clue either, to let it get all the way to bankruptcy. And I'm sure Mr. Alcede has the funds to buy the BAE plant. For those that don't know, it was big when S&S had it. BAE only made it bigger. I can't imagine you could touch the property alone for under 50 million. I really wish that store was run and staffed by competent people. We need a good shop around. |
|
|
|
Posted: 7/2/2014 12:43:33 AM EDT
[#50]
This guy is funny. I wonder how long til the Easter bunny, Santa Claus and little leprechauns make their way into the story.
|
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
