Sounds like a repeat of A-square all over again. I lost a sizable deposit on a new custom rifle with them and wasn't even notified of the companies trouble or the possibility of loosing my funds (nothing)... almost lost all my tooling I provided to them at the time also. Would have had it not been for a gentleman here that had worked for them. He was able to recover all my tooling for me so that iit wasn't a total loss.
This is about the 3rd posting on the Campfire regarding this. GunWerks has put up a post on Instagram addressing this and if you take the time to look at their website, they address it there also on their blog...
I'm not an apologist for them, nor do I work for them or own any of their gear. There are always two sides to any story, as they say, you need to hear both and then make up your own mind where the truth is.
Please read my official statement. Here's the takeaways:
Delinquent sales tax: fake news (5 minutes to look it up) Delinquent vendor payments: fake news
We stroked a cash payment to Wells Fargo today for nearly 3 million bucks! True story.
We tried to get fair treatment, and stood up for our rights, without rolling over at the first sign of pressure. I might be a little too cocky. WF pulled out the big guns, we settled our obligation.
Just goggle Wells Fargo 2016 Troubles on Wikipedia when they opened accounts, credit cards, sold needless auto insurance and mortgages of their clients, called 'cross-selling', without their clients permission or knowledge, ruining some of their clients credit scores. It was all illegal and they have paid many billions in fines for doing so. They should have been shut down and the chief officers of the bank should be in prison right now. Instead, they 'resigned' from their bank positions, and WF continues in business.
It's funny, if not downright pathetic, that they want to use the law to sue someone who has not treated them 'right' in their opinion. What a joke...
I too, should add that I do own any Gunwerks rifles, am not part of their business, nor have any interest in their business. Actually, never even heard of Gunwerks until two days ago. I just do not like WF after I watched what was happening back in 2016 on TV, and how they used their clients accounts illegally to enrich themselves.
Please read my official statement. Here's the takeaways:
Delinquent sales tax: fake news (5 minutes to look it up) Delinquent vendor payments: fake news
We stroked a cash payment to Wells Fargo today for nearly 3 million bucks! True story.
We tried to get fair treatment, and stood up for our rights, without rolling over at the first sign of pressure. I might be a little too cocky. WF pulled out the big guns, we settled our obligation.
Please read my official statement. Here's the takeaways:
Delinquent sales tax: fake news (5 minutes to look it up) Delinquent vendor payments: fake news
We stroked a cash payment to Wells Fargo today for nearly 3 million bucks! True story.
We tried to get fair treatment, and stood up for our rights, without rolling over at the first sign of pressure. I might be a little too cocky. WF pulled out the big guns, we settled our obligation.
Shows you what I know. I never even heard of Gunwerks until the posts on this forum and I googled them. Seems like they sell extremely overpriced rifles.
Shows you what I know. I never even heard of Gunwerks until the posts on this forum and I googled them. Seems like they sell extremely overpriced rifles.
My neighbor has one in a 7 LRM with a Nightforce scope and rangefinder. It shoots a 180 Berger around 3100 fps IIRC. I shot it in a t shirt off a bench and didn't notice any recoil. Shot like a dream with guaranteed 1000 yard performance. Is that worth the price? To some it is. Me...out of my price range.
Who knows where the truth lies, or gets stretched, or etc. One thing I think we all know is they ain't the first gun maker to run into financial problems. Does some one not being on a list for delinquent tax's mean they were never on there for delinquent tax's? I think they are just the latest in a long list of gun makers to have money issues. Winchester, Colt, Remington, Kimber, Savage, Marlin, S&W, etc.
Lets just say about all of them sooner or later have financial issues and a true picture is hard to see with out inside information and the facts in front of you.. I hope they meet their financial obligations in an honest way and can stay in business.
Just goggle Wells Fargo 2016 Troubles on Wikipedia when they opened accounts, credit cards, sold needless auto insurance and mortgages of their clients, called 'cross-selling', without their clients permission or knowledge, ruining some of their clients credit scores. It was all illegal and they have paid many billions in fines for doing so. They should have been shut down and the chief officers of the bank should be in prison right now. Instead, they 'resigned' from their bank positions, and WF continues in business.
It's funny, if not downright pathetic, that they want to use the law to sue someone who has not treated them 'right' in their opinion. What a joke...
I too, should add that I do own any Gunwerks rifles, am not part of their business, nor have any interest in their business. Actually, never even heard of Gunwerks until two days ago. I just do not like WF after I watched what was happening back in 2016 on TV, and how they used their clients accounts illegally to enrich themselves.
Don’t own any of their products, but the Gunwerks tv show is entertaining. As far as Wells Fargo, it is amazing that they are still allowed to be in business. Crooks !
This video from Gunwerks is very entertaining, especially when you get to watch the owner Aaron Davidson's (CEO) brother make a great hip shot on a dall sheep, then follow it up with the boss making a fine asss shot on another Dall sheep. Great shooting with those "1000 yds out of the box rifles", and a great advertisement..........no telling how many times this happens.
I watched this video last week and was wondering why they couldn’t stalk closer for a higher percentage kill shot. The helicopter taking them around was a bit much. It all seemed a little disrespectful to the animal. After seeing the video I’m not that surprised by the trouble they found them self in.
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.
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?
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?
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.