360 FORGED UPDATE...
04-15-2009, 09:23 PM
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360 FORGED UPDATE...
360 FORGED UPDATE!!
Hello to all Forum members,
Just wanted to fill everyone in on the current 360 Forged situation. I, Alain (Previous partner at 360 Forged and owner of Modular Concept) have re-assumed production and distribution of the 360 Forged wheel line. We have also assumed control of 360's 7000sq. ft. Miami facility, phone numbers, email addresses, staff and sales team. Obviously 360 has been going through major growing pains which has led to a backorder of 90+ sets. Because of current turnaround and customer service issues 360 has recently been dealing with, I have now found it necessary to intervene and help the situation.
To simplify the sales and manufacturing process, all 360 Forged and Modular Concept products will now be offered under a new umbrella company called Forged Distributing. We are well aware of all pending orders and customers which are awaiting delivery of their wheels. Although we are not responsible for previous delays, we are working diligently to get all past due orders filled. If you currently have an open order and would like to check the status please call us directly at 305.255.5166. One of our secretaries will take your information and a representative will return your call within 24 hours.
Production of new orders will be processed within the industry standard 4-6 weeks. We do understand that it will take some time before we're able to regain faith into the 360 product line. We are are putting the following stipulations into place to ensure customer satisfaction:
•Orders are GUARANTEED to be packaged and shipped from our facility within 4-6 weeks (add 2 weeks for carbon fiber orders) Should an order be delayed the customer will receive his or her money back without question if requested, or a 10% discount will be subtracted from the balance owed.
•$1000 deposit is required to start production on any order
•$1000 additional deposit is required once wheel centers are machined (normally 2 weeks)
•Balance is to be paid upon completion of the wheels, once tracking information has been provided and photos have been taken of the wheels for approval (if requested)
•Shipping and handling is a flat rate of $200 for wheels alone $300 for wheel & tire packages (US deliveries) $450 / $550 (International)
•Warranty issues will be handled by FORGED DISTRIBUTING, Inc. based on the above mentioned companies warranty policies.
There is no doubt 360 has created a quality product that is highly in demand. With our added manufacturing capabilities and financial resources, 360 will remain a major player in the after market wheel industry for years to come. Expect to see major developments from 360 Forged & Forged Distributing over the next few months. If anyone has any questions or comments please feel free to PM, email, or call us any time.
Hello to all Forum members,
Just wanted to fill everyone in on the current 360 Forged situation. I, Alain (Previous partner at 360 Forged and owner of Modular Concept) have re-assumed production and distribution of the 360 Forged wheel line. We have also assumed control of 360's 7000sq. ft. Miami facility, phone numbers, email addresses, staff and sales team. Obviously 360 has been going through major growing pains which has led to a backorder of 90+ sets. Because of current turnaround and customer service issues 360 has recently been dealing with, I have now found it necessary to intervene and help the situation.
To simplify the sales and manufacturing process, all 360 Forged and Modular Concept products will now be offered under a new umbrella company called Forged Distributing. We are well aware of all pending orders and customers which are awaiting delivery of their wheels. Although we are not responsible for previous delays, we are working diligently to get all past due orders filled. If you currently have an open order and would like to check the status please call us directly at 305.255.5166. One of our secretaries will take your information and a representative will return your call within 24 hours.
Production of new orders will be processed within the industry standard 4-6 weeks. We do understand that it will take some time before we're able to regain faith into the 360 product line. We are are putting the following stipulations into place to ensure customer satisfaction:
•Orders are GUARANTEED to be packaged and shipped from our facility within 4-6 weeks (add 2 weeks for carbon fiber orders) Should an order be delayed the customer will receive his or her money back without question if requested, or a 10% discount will be subtracted from the balance owed.
•$1000 deposit is required to start production on any order
•$1000 additional deposit is required once wheel centers are machined (normally 2 weeks)
•Balance is to be paid upon completion of the wheels, once tracking information has been provided and photos have been taken of the wheels for approval (if requested)
•Shipping and handling is a flat rate of $200 for wheels alone $300 for wheel & tire packages (US deliveries) $450 / $550 (International)
•Warranty issues will be handled by FORGED DISTRIBUTING, Inc. based on the above mentioned companies warranty policies.
There is no doubt 360 has created a quality product that is highly in demand. With our added manufacturing capabilities and financial resources, 360 will remain a major player in the after market wheel industry for years to come. Expect to see major developments from 360 Forged & Forged Distributing over the next few months. If anyone has any questions or comments please feel free to PM, email, or call us any time.
04-15-2009, 09:36 PM
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No, the name remains the same - just new ownership, Thanks.
Do a quick search for Modular Concept, you can see that we have no delays, and nothing but happy customers and excellent management. We are bringing this quality to 360 Forged.
Do a quick search for Modular Concept, you can see that we have no delays, and nothing but happy customers and excellent management. We are bringing this quality to 360 Forged.
04-15-2009, 09:49 PM
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Glad to see you step in and try to make it right.
Let me make sure I have this correct. You used to be partners in 360 Forged and indicate you had nothing to do with the current situations...which would mean you were not a partner for the past several months, correct?
Does this mean Jordan is no longer a partner or affiliated with the company whatsoever?
Let me make sure I have this correct. You used to be partners in 360 Forged and indicate you had nothing to do with the current situations...which would mean you were not a partner for the past several months, correct?
Does this mean Jordan is no longer a partner or affiliated with the company whatsoever?
04-15-2009, 09:52 PM
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04-15-2009, 09:58 PM
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Glad to see you step in and try to make it right.
Let me make sure I have this correct. You used to be partners in 360 Forged and indicate you had nothing to do with the current situations...which would mean you were not a partner for the past several months, correct?
Does this mean Jordan is no longer a partner or affiliated with the company whatsoever?
Let me make sure I have this correct. You used to be partners in 360 Forged and indicate you had nothing to do with the current situations...which would mean you were not a partner for the past several months, correct?
Does this mean Jordan is no longer a partner or affiliated with the company whatsoever?
04-15-2009, 10:28 PM
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This is true, Jordan and I were the 2 original investors and owners of 360 Forged. Shortly after it's launch Jordan bought me out and I started Modular Concept. When the company started to have backorder issues I felt it necessary to step in with Jordan's consent in order to help the situation. Jordan is a legitimate business man despite all of the rumors and allegations that have spread throughout the internet. Most of the personal attacks against him were brought on by several individuals who we know personally who have tried to bring the company down for their own benefit. The issues that he's faced were out of his control and he did the best he could to fix the problems. He is still involved with the company, however only responsible for product development and design.
I guess to start with;
1: Why was a situation allowed to develop, where customers had paid in full and up-front for orders, but then the manufacturer was never paid? Where'd the money go?
2: Who was responsible for that virtual ponzi scheme?
3: Are they still associated with the business?
4: Has the factory now been paid?
5: Does the business now take credit cards again?
6: What are you going to do for the SLEW of folks out $$$ and who either received crappy product, product with the wrong specs, or no product?
7: Do you still expect payment up front for products, after everything that has transpired?
I think until some of these questions (and more) get answered, nobody's going to feel comfortable buying from this company, until they can be assured the same thing isn't going to happen again.
I mean, you just acknowledged, the guy who drove this thing into the ground is still associated with the business. Seems like there may be the potential for a repeat.
04-15-2009, 10:57 PM
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If you want to be taken seriously here, you'll probably have to come clean. Not just a short acknowledgment, but the full-monty.
I guess to start with;
1: Why was a situation allowed to develop, where customers had paid in full and up-front for orders, but then the manufacturer was never paid? Where'd the money go?
2: Who was responsible for that virtual ponzi scheme?
3: Are they still associated with the business?
4: Has the factory now been paid?
5: Does the business now take credit cards again?
6: What are you going to do for the SLEW of folks out $$$ and who either received crappy product, product with the wrong specs, or no product?
7: Do you still expect payment up front for products, after everything that has transpired?
I think until some of these questions (and more) get answered, nobody's going to feel comfortable buying from this company, until they can be assured the same thing isn't going to happen again.
I mean, you just acknowledged, the guy who drove this thing into the ground is still associated with the business. Seems like there may be the potential for a repeat.
I guess to start with;
1: Why was a situation allowed to develop, where customers had paid in full and up-front for orders, but then the manufacturer was never paid? Where'd the money go?
2: Who was responsible for that virtual ponzi scheme?
3: Are they still associated with the business?
4: Has the factory now been paid?
5: Does the business now take credit cards again?
6: What are you going to do for the SLEW of folks out $$$ and who either received crappy product, product with the wrong specs, or no product?
7: Do you still expect payment up front for products, after everything that has transpired?
I think until some of these questions (and more) get answered, nobody's going to feel comfortable buying from this company, until they can be assured the same thing isn't going to happen again.
I mean, you just acknowledged, the guy who drove this thing into the ground is still associated with the business. Seems like there may be the potential for a repeat.
1: Why was a situation allowed to develop, where customers had paid in full and up-front for orders, but then the manufacturer was never paid? Where'd the money go? The situation started with an initial bottleneck in manufacturing. The company literally doubled in volume from one month to the next and continued to grow over the next few months from 10 sets a month to 50+. Manufacturing was only equipped at the time to handle about 20-30 sets / month. As orders kept coming in, every month product was getting more and more backed up to the point that customers started to do chargebacks on their credit cards and cancel orders. Once that happened their merchant account saw the company as a "high risk" and required a reserve of over $75k to be held without warning. This in turn formed a major financial strain and started to back up payment to suppliers and manufacturers. As a result more customers canceled orders, and the merchant account was eventually shut down making it even more difficult to collect payment. Over time it snowballed into a major problem and put the company into the situation it is in today.
2: Who was responsible for that virtual ponzi scheme?
This was in no way a ponzi scheme, it's a legitimate business started with very little personal funding, which grew too quickly and was faced with situations beyond it's control. A wheel manufacturing co requires a large amount of capital. Jordan did not come from money, did not want help from investors, and worked hard and invested his money into the company to try and build something great. It's unfortunate what happened, and I give him all the respect in the world for trying.
3: Are they still associated with the business?
There is no "they"
4: Has the factory now been paid?
Yes - there are no manufacturing debts, or delays. Machining now runs 24 hour shifts with 4 machines operating at all times with the capacity to machine over 200 sets monthly.
5: Does the business now take credit cards again?
Yes
6: What are you going to do for the SLEW of folks out $$$ and who either received crappy product, product with the wrong specs, or no product?
This "Slew" that you refer to will be taken care of with the utmost respect, and we will do everything possible to make right of every situation. please be aware that this debt incurred will be handled out of pocket and can not be done all at one time. We are in communication with all open orders, and warranty issues are all being handled accordingly.
7: Do you still expect payment up front for products, after everything that has transpired? Please see the policies in the OP. In an effort to regain trust in customers we require only a $1000 refundable deposit to process any order. In the event that an order is late we will offer your deposit back without question or you the customer decides to keep the order we will offer a 10% discount from the balance. This is a signed document by both parties upon processing every order.
Thank you for your questions, I hope this information helps.
04-15-2009, 11:24 PM
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Thank you for your questions, I am happy to answer.
1: Why was a situation allowed to develop, where customers had paid in full and up-front for orders, but then the manufacturer was never paid? Where'd the money go? The situation started with an initial bottleneck in manufacturing. The company literally doubled in volume from one month to the next and continued to grow over the next few months from 10 sets a month to 50+. Manufacturing was only equipped at the time to handle about 20-30 sets / month. As orders kept coming in, every month product was getting more and more backed up to the point that customers started to do chargebacks on their credit cards and cancel orders. Once that happened their merchant account saw the company as a "high risk" and required a reserve of over $75k to be held without warning. This in turn formed a major financial strain and started to back up payment to suppliers and manufacturers. As a result more customers canceled orders, and the merchant account was eventually shut down making it even more difficult to collect payment. Over time it snowballed into a major problem and put the company into the situation it is in today.
2: Who was responsible for that virtual ponzi scheme?
This was in no way a ponzi scheme, it's a legitimate business started with very little personal funding, which grew too quickly and was faced with situations beyond it's control. A wheel manufacturing co requires a large amount of capital. Jordan did not come from money, did not want help from investors, and worked hard and invested his money into the company to try and build something great. It's unfortunate what happened, and I give him all the respect in the world for trying.
3: Are they still associated with the business?
There is no "they"
4: Has the factory now been paid?
Yes - there are no manufacturing debts, or delays. Machining now runs 24 hour shifts with 4 machines operating at all times with the capacity to machine over 200 sets monthly.
5: Does the business now take credit cards again?
Yes
6: What are you going to do for the SLEW of folks out $$$ and who either received crappy product, product with the wrong specs, or no product?
This "Slew" that you refer to will be taken care of with the utmost respect, and we will do everything possible to make right of every situation. please be aware that this debt incurred will be handled out of pocket and can not be done all at one time. We are in communication with all open orders, and warranty issues are all being handled accordingly.
7: Do you still expect payment up front for products, after everything that has transpired? Please see the policies in the OP. In an effort to regain trust in customers we require only a $1000 refundable deposit to process any order. In the event that an order is late we will offer your deposit back without question or you the customer decides to keep the order we will offer a 10% discount from the balance. This is a signed document by both parties upon processing every order.
Thank you for your questions, I hope this information helps.
1: Why was a situation allowed to develop, where customers had paid in full and up-front for orders, but then the manufacturer was never paid? Where'd the money go? The situation started with an initial bottleneck in manufacturing. The company literally doubled in volume from one month to the next and continued to grow over the next few months from 10 sets a month to 50+. Manufacturing was only equipped at the time to handle about 20-30 sets / month. As orders kept coming in, every month product was getting more and more backed up to the point that customers started to do chargebacks on their credit cards and cancel orders. Once that happened their merchant account saw the company as a "high risk" and required a reserve of over $75k to be held without warning. This in turn formed a major financial strain and started to back up payment to suppliers and manufacturers. As a result more customers canceled orders, and the merchant account was eventually shut down making it even more difficult to collect payment. Over time it snowballed into a major problem and put the company into the situation it is in today.
2: Who was responsible for that virtual ponzi scheme?
This was in no way a ponzi scheme, it's a legitimate business started with very little personal funding, which grew too quickly and was faced with situations beyond it's control. A wheel manufacturing co requires a large amount of capital. Jordan did not come from money, did not want help from investors, and worked hard and invested his money into the company to try and build something great. It's unfortunate what happened, and I give him all the respect in the world for trying.
3: Are they still associated with the business?
There is no "they"
4: Has the factory now been paid?
Yes - there are no manufacturing debts, or delays. Machining now runs 24 hour shifts with 4 machines operating at all times with the capacity to machine over 200 sets monthly.
5: Does the business now take credit cards again?
Yes
6: What are you going to do for the SLEW of folks out $$$ and who either received crappy product, product with the wrong specs, or no product?
This "Slew" that you refer to will be taken care of with the utmost respect, and we will do everything possible to make right of every situation. please be aware that this debt incurred will be handled out of pocket and can not be done all at one time. We are in communication with all open orders, and warranty issues are all being handled accordingly.
7: Do you still expect payment up front for products, after everything that has transpired? Please see the policies in the OP. In an effort to regain trust in customers we require only a $1000 refundable deposit to process any order. In the event that an order is late we will offer your deposit back without question or you the customer decides to keep the order we will offer a 10% discount from the balance. This is a signed document by both parties upon processing every order.
Thank you for your questions, I hope this information helps.
The previous approach was just to blame everything on the customer, call them a liar, and threaten to refuse delivery if they didn't delete their post. Obviously, that had the direct opposite effect of what was intended, and the issues blew up on the internet. So yeah, this is definitely a step in the right direction
As to the credit card chargeback ratio and the holdback provision by your bank, that's an unfortunate situation, but one that most people can understand and forgive. That exact same thing drove Frontier Airlines into bankruptcy several years ago, you can probably still google the news stories. If it can happen to a Fortune 500 company, it can happen to anyone.
It's also good to hear you're dealing with the guys like c63ukraine on this forum, with non-delivery issues. I think part of what made the situation so bad was lack of contact, if anybody had dealt with them appropriately they probably would have been patient, but for the most part they got ignored and kept getting new deadlines that would be missed.
You're in a tough spot, trying to repair a rep and play catch-up, but you're doing the right stuff now. It's really a shame Jordan didn't keep you as a partner from the beginning. His 50% of the business, had you still been onboard, would have been worth a lot more than his 100% of the business without you.
04-15-2009, 11:48 PM
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e55 w/LET TUNE Drinks: vodka STRAIGHT Wheels: 19" HRE 547r Mods:FF headers ASP Pulley
this reminds me of hennessey motorsports. if that a**hole thief can make it, im sure you guys can as well. good luck
04-15-2009, 11:49 PM
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Thank you for your questions, I am happy to answer.
The situation started with an initial bottleneck in manufacturing. The company literally doubled in volume from one month to the next and continued to grow over the next few months from 10 sets a month to 50+. Manufacturing was only equipped at the time to handle about 20-30 sets / month. As orders kept coming in, every month product was getting more and more backed up to the point that customers started to do chargebacks on their credit cards and cancel orders. Once that happened their merchant account saw the company as a "high risk" and required a reserve of over $75k to be held without warning. This in turn formed a major financial strain and started to back up payment to suppliers and manufacturers. As a result more customers canceled orders, and the merchant account was eventually shut down making it even more difficult to collect payment. Over time it snowballed into a major problem and put the company into the situation it is in today.
2: Who was responsible for that virtual ponzi scheme?
This was in no way a ponzi scheme, it's a legitimate business started with very little personal funding, which grew too quickly and was faced with situations beyond it's control. A wheel manufacturing co requires a large amount of capital. Jordan did not come from money, did not want help from investors, and worked hard and invested his money into the company to try and build something great. It's unfortunate what happened, and I give him all the respect in the world for trying.
The situation started with an initial bottleneck in manufacturing. The company literally doubled in volume from one month to the next and continued to grow over the next few months from 10 sets a month to 50+. Manufacturing was only equipped at the time to handle about 20-30 sets / month. As orders kept coming in, every month product was getting more and more backed up to the point that customers started to do chargebacks on their credit cards and cancel orders. Once that happened their merchant account saw the company as a "high risk" and required a reserve of over $75k to be held without warning. This in turn formed a major financial strain and started to back up payment to suppliers and manufacturers. As a result more customers canceled orders, and the merchant account was eventually shut down making it even more difficult to collect payment. Over time it snowballed into a major problem and put the company into the situation it is in today.
2: Who was responsible for that virtual ponzi scheme?
This was in no way a ponzi scheme, it's a legitimate business started with very little personal funding, which grew too quickly and was faced with situations beyond it's control. A wheel manufacturing co requires a large amount of capital. Jordan did not come from money, did not want help from investors, and worked hard and invested his money into the company to try and build something great. It's unfortunate what happened, and I give him all the respect in the world for trying.
So "they" does not include Jordan or Miguel?
Of course they do, they now have a merchant account under a new business entity.
04-15-2009, 11:55 PM
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And how does Internet Brands accept this? What happened with the flag on the forum page talking about how 360 was done on the forum and how IB would help anyone in anyway they could to recoup their losses? This is helping?
To the OP, with all due respect, changing front men doesn't make a fresh start. You will do best laying low and letting the newbs buy your stuff. There are people here that will buy from anybody, even MHP....
To the OP, with all due respect, changing front men doesn't make a fresh start. You will do best laying low and letting the newbs buy your stuff. There are people here that will buy from anybody, even MHP....
04-16-2009, 12:20 AM
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It would be nice if some of the members that had issues spoke up as to any updates. The real question here is are they turning over a new leaf (i.e. taking care of the shafted)? We already know that not all disputes are resolved but what is being done from 360's side? Again, the members need to speak up. By not speaking, we can only assume that they were taken care of.
04-16-2009, 12:31 AM
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Thank you for your concern, I can see that you are very interested in the situation. I'm sure you can call COR directly and ask them anything you'd like about that. They will assure you that all is on the up and up.
04-16-2009, 12:33 AM
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And how does Internet Brands accept this? What happened with the flag on the forum page talking about how 360 was done on the forum and how IB would help anyone in anyway they could to recoup their losses? This is helping?
To the OP, with all due respect, changing front men doesn't make a fresh start. You will do best laying low and letting the newbs buy your stuff. There are people here that will buy from anybody, even MHP....
To the OP, with all due respect, changing front men doesn't make a fresh start. You will do best laying low and letting the newbs buy your stuff. There are people here that will buy from anybody, even MHP....
04-16-2009, 12:33 AM
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Thank you. That's the first honest explanation, at least that I'm aware of, that anyone has gotten from 360 Forged so far. Things really must have changed on your end.
The previous approach was just to blame everything on the customer, call them a liar, and threaten to refuse delivery if they didn't delete their post. Obviously, that had the direct opposite effect of what was intended, and the issues blew up on the internet. So yeah, this is definitely a step in the right direction
As to the credit card chargeback ratio and the holdback provision by your bank, that's an unfortunate situation, but one that most people can understand and forgive. That exact same thing drove Frontier Airlines into bankruptcy several years ago, you can probably still google the news stories. If it can happen to a Fortune 500 company, it can happen to anyone.
It's also good to hear you're dealing with the guys like c63ukraine on this forum, with non-delivery issues. I think part of what made the situation so bad was lack of contact, if anybody had dealt with them appropriately they probably would have been patient, but for the most part they got ignored and kept getting new deadlines that would be missed.
You're in a tough spot, trying to repair a rep and play catch-up, but you're doing the right stuff now. It's really a shame Jordan didn't keep you as a partner from the beginning. His 50% of the business, had you still been onboard, would have been worth a lot more than his 100% of the business without you.
The previous approach was just to blame everything on the customer, call them a liar, and threaten to refuse delivery if they didn't delete their post. Obviously, that had the direct opposite effect of what was intended, and the issues blew up on the internet. So yeah, this is definitely a step in the right direction
As to the credit card chargeback ratio and the holdback provision by your bank, that's an unfortunate situation, but one that most people can understand and forgive. That exact same thing drove Frontier Airlines into bankruptcy several years ago, you can probably still google the news stories. If it can happen to a Fortune 500 company, it can happen to anyone.
It's also good to hear you're dealing with the guys like c63ukraine on this forum, with non-delivery issues. I think part of what made the situation so bad was lack of contact, if anybody had dealt with them appropriately they probably would have been patient, but for the most part they got ignored and kept getting new deadlines that would be missed.
You're in a tough spot, trying to repair a rep and play catch-up, but you're doing the right stuff now. It's really a shame Jordan didn't keep you as a partner from the beginning. His 50% of the business, had you still been onboard, would have been worth a lot more than his 100% of the business without you.
04-16-2009, 12:38 AM
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I can see that IB is giving 360 a chance to make good. It is true that IB is more concerned with the overall vs a single sponsor and that is nice. The question is will 360 hold up its end. From what it sounds now, you are trying so we will see.
04-16-2009, 08:10 AM
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I never ordered anything from 360 Forged, but was always a big fan of their wheel designs, and especially their expert photography/photoshop skills for product pictures.
I can say that although it was spiraling out of control the past few months, that it takes a lot of pride and confidence in your abilities to come out with a post like this and answer everyone's questions in such detail.
It's never comforting to have your dirty laundry displayed to the world, so I commend the efforts displayed here and wish the new owner of 360 Forged the best of luck. I hope that everything works out for the customers with pending orders, and that the bridges that may have been burnt can be rebuilt.
Regards,
Brad
I can say that although it was spiraling out of control the past few months, that it takes a lot of pride and confidence in your abilities to come out with a post like this and answer everyone's questions in such detail.
It's never comforting to have your dirty laundry displayed to the world, so I commend the efforts displayed here and wish the new owner of 360 Forged the best of luck. I hope that everything works out for the customers with pending orders, and that the bridges that may have been burnt can be rebuilt.
Regards,
Brad
04-16-2009, 08:52 AM
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tough mountain to climb. good luck.
personally if it's me I wouldn't take any order until the previous has all been filled. doesn't give much confident to the waiting customer when you are still piling on orders.
personally if it's me I wouldn't take any order until the previous has all been filled. doesn't give much confident to the waiting customer when you are still piling on orders.
