Home Forums Hunting & Shooting Ask The Gunwriters Gunwerks in Trouble

Thank god they had a helicopter and all that technology so they could do their wilderness hunt.

It looks like Wells Fargo accomplished their goal. Even though Gunwerks published a repudiation to Wells Fargo’s claims that seem to be legit, there are people even on this website that have doubts now about Gunwerks financial viability. Mission accomplished.

Did you miss the part where GW owed WF money, and paid them? At least GW's CEO said he "stroked them a big check", which means he owed them money doesn't it?

I did not miss it. That in and of itself means nothing.

AFTER the bank unilaterally changed their long-established relationship and threw out the definitions in their inventory.

It does not mean they owed them money. Borrowed money is not owed until the contract says it is. Because WF changed an established implied contract they had to force it by going to court. GW could waste lots of money to fight it, or find a new bank. WF has a long history of being dirtbags.

This looks pretty simple. And I’m familiar with the industry.

Client deals with local branch
Local branch knows clients and their business
Operating line is established with x rules
Inventory determines operating limit (very common)
Account moves to the city
Manager margins the account differently as he pigeon holes business with other manufacturing businesses
Client says no, no. This is not what we have been doing.
Bank says you must
Client says pound sand
Bank calls the debt.

Generally a client that is desperate for the borrowed funds does not tell the bank to get bent.

However, what I do not understand, is why a bank that has a client with that kind of liquid cash would quibble over inventory. But I’d guess that that money was invested elsewhere.