| 6 months ago :: Sep 22, 2009 - 8:29AM #1 | |
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I just finished reading through Angelo's article about the heap of financial issues that Kruse International is having and I have to admit, I still think that something stinks. I just don't buy the story by Dean Kruse that he is simply the victim of the poor economy. If cars are being sold, buyers are paying for the cars they purchase, then why in the heck are the sellers not being paid? Anyone have a good idea where the money is going or what is going on over at Kruse?
You can read the Old Cars Weekly Article about the Kruse situation HERE. |
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| 6 months ago :: Sep 25, 2009 - 7:33PM #2 | |
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I have to agree with Otis. Something is fishy here. Sure the economy has probably hurt Kruse, but in most cases where people (customers) get cheated, you have a case where the perpatrator has drained the business and lived high on the hog. When things finally catch up with them, they still stay slimey by figuring out who can they cheat who is least likely to cause trouble. Always turns out to be the smallest and least influential creditor. And in the end a consignor at an auction becomes not much more than an unsecured creditor when his car is sold and he is owed his payment. If a consignor can prove that the auctioneer NEVER intended to pay him, then criminal charges could be filed foir auto theft. But that is beyond unlikely. Kruse's large creditors can hurt him badly financially, as well as legally, and have the wherewithal to do just that. Individual consignors represent much less threat! |
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