RE: [DMCForum] Re: Big Lots giveaway?

["timnagin" <timnagin@xxxxxxxxxxxxxx>]

If you read down lower on that link it states...

"DETROIT, Nov. 16­A Federal bankruptcy judge here cleared the way today
for
an Ohio auto parts company to purchase the United States assets of the
DeLorean Motor Company for $1.5 million, plus assumption of about $9
million
in debt.

The sale, which yields DeLorean¹s secured creditors about 3 cents on each
$1
in debt, gives Consolidated International Inc. of Columbus, Ohio,
ownership
of 649 cars with an estimated retail value of $17.5 million; spare parts
worth another $1.2 million, and sole United States distribution rights.

<snip>

"Attorneys for Consolidated, which is headed by a 70-year-old investor,
Sol.
A. Shenk, disclosed in court that the company had also purchased 1,090
cars
from the British receivers and would sell them in this country.

Mr. Shenk has also made an $80 million offer to lease the DeLorean factory
in Northern Ireland, to resume operations there at a reduced rate."



The bargain of a life time.

Greg








-----Original Message-----
From: erikgeerdink <erikgeerdink@xxxxxxxxx>
[mailto:erikgeerdink@xxxxxxxxx]
Sent: Tuesday, February 11, 2003 7:21 AM
To: DMCForum@xxxxxxxxxxxxxxx
Subject: [DMCForum] Re: Big Lots giveaway?


Does anybody know how much he bought the cars for?  How much he sold
the cars for?
2800 Deloreans?  Wow, now thats a hell of a car show.  Try picking
yours out in that crowd.

Erik

--- In DMCForum@xxxxxxxxxxxxxxx, "timnagin" <timnagin@xxxx> wrote:
> This is a really interesting story...
>
> "Occasionally, though, he can¹t resist a bargain, even if it means
venturing
> outside his stores. In 1982 he and two other liquidators bought
2,800 De
> Lorean cars, parceled them out to dealers around the country and
sold them
> all in 18 months. He bought them so cheap, in fact, that the court-
appointed
> receiver for De Lorean Motor Co. is suing to recover some of the
profits."
>
> http://www.shenk.net/sol.htm
>
>
> Greg
>
>
>
>
> -----Original Message-----
> From: erikgeerdink <erikgeerdink@xxxx>
> [mailto:erikgeerdink@xxxx]
> Sent: Monday, February 10, 2003 8:42 PM
> To: DMCForum@xxxxxxxxxxxxxxx
> Subject: [DMCForum] Re: Big Lots giveaway?
>
>
> Rick, you never stop amazing me with your knowledge.  Thanks for
the
> answer!
>
> Erik
>
>
> --- In DMCForum@xxxxxxxxxxxxxxx, "twinenginedmc12
> <twinenginedmc12@xxxx>" <twinenginedmc12@xxxx> wrote:
> > --- In DMCForum@xxxxxxxxxxxxxxx, "erikgeerdink
> <erikgeerdink@xxxx>"
> > <erikgeerdink@xxxx> wrote:
> > > Ok, if anyone you know about the stored "Big Lots" you know
that
> > its
> > > a pretty cheap place.  5 year old jars of pickles for $.50 and
> > > imitation G.I Joes in the toy isles.  I know there were 2 Gold
> > > Deloreans made by AMEX.  And then another one made with spare
> parts
> > > which turned out to be the last Delorean made (we all saw it in
> > > Cleveland).
> > > Whats up with this delorean?
> > >
> > > http://bigtexas.com/dmc/gold/
> >
> > Big lots is a Sol Shenk enterprise.  Sol Shenk was the guy who
> bought
> > the entire inventory of the DeLorean Motor Company when it
> folded.
> > I'm sure he had more cars than he knew what to do with at that
> time,
> > so plating one up must have seemed a fun thing.  I admire that
> guy.
> > He started out with very little, and made a fortune by buying
low,
> > selling medium, paying cash and being fiscally shrewd.
> > I suppose he probably has the distinction of having had the
> largest
> > private collection of DeLoreans at any one time.
> >
> > I'm no expert.  I just read about him in Stainless Steel
Illusion,
> > and on the internet.
> >
> > Rick Gendreau


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