IS FAUSTINE OUT OF BUSINESS???

[Gooseman]

Bottom line is he shouldn't have spent money from deposits on anything other then building attenuators. The only ones I feel for are the ones that got dicked around all this time.

+1

 

[JerryP]

Everyone that has never owned a business take 10 steps back, you don't have a clue no matter how much you might think you do. Sorry, it's true. Get in the drivers seat if you think you have the answers.

There are guys doing what I do that have much more money behind them than I do and their work sucks. Money doesn't equal a good product or a guarantee of delivery. If it makes you feel better great, but don't be so blind as to not look around you and see reality. Enron had money, where the fuck are they today? Madoff had money and took everyone elses with him. You guys actually trust those fucks because they had money behind them? You don't have to be Fortune 500 to be successful. If you ask me, mom and pop places built this country, big corporations and lawyers fucked it up.

Entrepeneurs, taking that blind step out to make something of yourself because you believe in yourself and your product. Many fail, many more don't.

I owned a Mobil gas station many years ago and I had money behind me, business failed. I run on a shoe string now and I've been at it since the 90's as a hobby and since 2003 as a business. Money doesn't equal success.

I see several HUGE mistakes in business everyday that cause many to fail.
1. Having other people in your pocket! This is why my gas station failed. Having a big corporation telling you what to do is a sure fire way to get bent over with your pants around your ankles. Having too many people taking a paycheck out of a business not making the sales to support it is another. You don't need 25 departments and people with titles to get things done.
2. GREED! Trying to grow too fast. Taking in orders you can't fulfill. I have been building amps for years, I don't have a list of people waiting and I don't take on orders for more than 1 or 2 at a time. I'm realistic about what I can get done. I don't have to say yes to everyone and because I do things that way I get by just fine. No mansion or boats, but I do OK for what I need.
Jerry

 

[memberzonly]

I don't know the owner personally, nor have I ever tried the product but all that I have read about the product was that it was great. Personal financial mismanagement notwithstanding, the situation is clear: Money was taken from customers in good faith for goods/services that were promised by contract and never delivered. This is theft. Plain and simple.

Sole proprietorship allows him to file bankruptcy for HIS protection. Unless someone intervenes, his creditors (customers) will see no return. Also, unless someone intervenes, upon emerging from bankruptcy, he can sell intellectual property rights to his business to some other interested party for X dollars. Customers who paid in partially or in full for a product never received should work with the court to obtain a lien against the sale of any intellectual property as recompense if they cannot get a refund directly.

You never want to see someone end up in a bad situation due to their own fault or circumstances beyond their control. But the occurrence NEVER washes them clean of their responsibility to the people that have been taken advantage of. If, at the time of placing the order, customers were told "By the way, you may not actually get the product you are purchasing", NO ONE would have placed an order or deposit.

Any time of I have seen a business fold and a mea culpa letter is published, the explanation always revolves around the sad story with some apologies thrown in. The "My dog ate the lunch explanation" exists purely to make to you feel sorry for the author. This is a BUSINESS transaction. Nothing personal. No feelings involved.

To Ed's post above, the most talented designers are typically the WORST businessmen. I think it would be wonderful for the owner (and his family) and the customers if he was able to find an interested party to pick up the ball and make things right for all involved.

 

[Gooseman]

I don't know the owner personally, nor have I ever tried the product but all that I have read about the product was that it was great. Personal financial mismanagement notwithstanding, the situation is clear: Money was taken from customers in good faith for goods/services that were promised by contract and never delivered. This is theft. Plain and simple.

Sole proprietorship allows him to file bankruptcy for HIS protection. Unless someone intervenes, his creditors (customers) will see no return. Also, unless someone intervenes, upon emerging from bankruptcy, he can sell intellectual property rights to his business to some other interested party for X dollars. Customers who paid in partially or in full for a product never received should work with the court to obtain a lien against the sale of any intellectual property as recompense if they cannot get a refund directly.

You never want to see someone end up in a bad situation due to their own fault or circumstances beyond their control. But the occurrence NEVER washes them clean of their responsibility to the people that have been taken advantage of. If, at the time of placing the order, customers were told "By the way, you may not actually get the product you are purchasing", NO ONE would have placed an order or deposit.

Any time of I have seen a business fold and a mea culpa letter is published, the explanation always revolves around the sad story with some apologies thrown in. The "My dog ate the lunch explanation" exists purely to make to you feel sorry for the author. This is a BUSINESS transaction. Nothing personal. No feelings involved.

To Ed's post above, the most talented designers are typically the WORST businessmen. I think it would be wonderful for the owner (and his family) and the customers if he was able to find an interested party to pick up the ball and make things right for all involved.

+1

This is what I was stating above, except not as to the point and with such eloquence.

I won't pretend to know what it takes to run a business -- I don't, at least from a personal standpoint. I DID run a successful restaurant for two years, P+L statements, hiring, budgeting, day-to-day, etc. I even won Restaurant of the Quarter based on my performance with guest service ratings and P+L monthly standings. What Faustine did is just plain theft. There is no way around it. I hope those chaps who had deposits get their money back eventually.

 

[Tone Merchant]

"On the whole Brad/Tone Merchants thing...I seriously doubt either of them want to go through the nightmare of trying to evaluate every struggling business out there that is in need of resurrection."


Brad and I like challenges. We are still investigating/contemplating. Lets see how this plays out

 

[fendertweed]

I don't know the owner personally, nor have I ever tried the product but all that I have read about the product was that it was great. Personal financial mismanagement notwithstanding, the situation is clear: Money was taken from customers in good faith for goods/services that were promised by contract and never delivered. This is theft. Plain and simple.

this is not necessarily legally correct.

theft requires intent ... to permanently deprive one of property. bad management and poor business practices, without a lot more, is not theft.

the situation sucks for all involved but it is not necessarily theft, easy as it is to accuse. i make no excuses for Tim, but details matter and without proof beyond a reasonable doubt of intent, there is no theft. plain and simple.

 

[chameleon]

Here's my story...

I paid 50% for a DX2 on January 10th 2011 expected to be delivered originally in April 2011.

After getting several delays from Faustine, last one in October saying they could not tell me a new delivery date (now I understand why :evil: )... but saying anything about refund :evil: , and finally not even answering e-mails and phone calls during December 2011 :evil: , decided to claim VISA (thru my bank) last week of December 2011 (almost 1 year later!).

Today, a couple of weeks after claiming, I have received the refund in my account! Props to my bank for their work on this! I had low e :shock:

On my claim I included all the e-mails exchanged and even the last update on Faustine webpage explaining the situation.

So for all you in the same situation, go and claim what's yours!

 

[murky69nz]

"On the whole Brad/Tone Merchants thing...I seriously doubt either of them want to go through the nightmare of trying to evaluate every struggling business out there that is in need of resurrection."


Brad and I like challenges. We are still investigating/contemplating. Lets see how this plays out

I'll take two.