Results 1 to 30 of 30
  1. #1
    Marshal ksb51rl's Avatar
    Join Date
    Nov 2006
    Location
    Northern NJ
    Posts
    20,550

    Hobbirizon? or Towrizon?

    According to Illinoishomepage.net:
    CHAMPAIGN, Ill. (WCIA) -- A local business which declared bankruptcy went up for auction Wednesday.

    Hobbico was trying to auction off its assets. Those who were interested had the chance to put in a bid to buy all or part of the assets.

    Horizon Hobby, LLC, a company which makes products similar to Hobbico, expressed interested in bidding. No word yet if there were any other bids.

    A hearing takes place Monday to approve the sale to the winning bidder.

    Another company, Traxxas, is also filing for relief to get back the money Hobbico owes it. That matter will also be decided Monday.
    Anybody have new name suggestions if Horizon’s $18.8 million bid is accepted?
    Alt-248 on the number pad = °

  2. #2
    Marshal Double G's Avatar
    Join Date
    May 2008
    Posts
    14,231
    Horizon Hobbyco, LLC
    The Super Derecho

  3. #3
    RC Qualifier IanRose's Avatar
    Join Date
    Oct 2016
    Location
    Boston South Shore
    Posts
    449
    Im curious to see what brands survive. duratrax AND dynamite, idk about that. I almost got a arrmado watchachmacalit 2wdmt instead of a stampede, boy would that have been a mistake on multible levles.
    ------
    How to Rc: Send them high, watch them die.

  4. #4
    RC Champion SlashMaxx4x4's Avatar
    Join Date
    Apr 2016
    Location
    Midwest
    Posts
    1,006
    Quote Originally Posted by IanRose View Post
    Im curious to see what brands survive. duratrax AND dynamite, idk about that. I almost got a arrmado watchachmacalit 2wdmt instead of a stampede, boy would that have been a mistake on multible levles.
    What brands survive, from hobbico? Or other than Horizon?
    "Gone racing"

  5. #5
    RC Qualifier IanRose's Avatar
    Join Date
    Oct 2016
    Location
    Boston South Shore
    Posts
    449
    Quote Originally Posted by SlashMaxx4x4 View Post
    What brands survive, from hobbico? Or other than Horizon?
    Some hobbico brands were just distributed by hobbico and have moved on to other distributors, ie futuba.

    Other brands are hobbicos own brands. I used hobbicos duatrax brand as an example becase it is very simalar to horizons dynamite brand. If there was a buy out i dont see the two brands existing under the same llc.

    Sent from my LGMS210 using Tapatalk
    ------
    How to Rc: Send them high, watch them die.

  6. #6
    RC Champion SlashMaxx4x4's Avatar
    Join Date
    Apr 2016
    Location
    Midwest
    Posts
    1,006
    Quote Originally Posted by IanRose View Post
    Some hobbico brands were just distributed by hobbico and have moved on to other distributors, ie futuba.

    Other brands are hobbicos own brands. I used hobbicos duatrax brand as an example becase it is very simalar to horizons dynamite brand. If there was a buy out i dont see the two brands existing under the same llc.

    Sent from my LGMS210 using Tapatalk
    Ok, I get you now. Yeah, I guess only time will tell at this point.
    "Gone racing"

  7. #7
    RC Turnbuckle Jr. Greatscott's Avatar
    Join Date
    Mar 2004
    Location
    N. Idaho... Da Sticks!
    Posts
    8,091
    "Horizon Towers"

    "Towering Horizons"

    Horizon Hobbies and Hobbico = Hobbihos...
    Submarine Qualified, Chief Inducted, Navy Retired

  8. #8
    RC Qualifier IanRose's Avatar
    Join Date
    Oct 2016
    Location
    Boston South Shore
    Posts
    449
    I guess horizon was the only bidder. I guess no one is in the market for a masive rc multi corp.
    ------
    How to Rc: Send them high, watch them die.

  9. #9
    RC Turnbuckle Jr. Greatscott's Avatar
    Join Date
    Mar 2004
    Location
    N. Idaho... Da Sticks!
    Posts
    8,091
    Quote Originally Posted by IanRose View Post
    I guess horizon was the only bidder. I guess no one is in the market for a masive rc multi corp.
    That might be a good think. Horizon is vested in the industry and will keep the better brands like Axial, and ditch/sell off the underperforming brands. It would be bad if they were bought up by someone that isn't vested in the RC/Hobby industry and bought is as something they could borrow against then dump, like what happened to Toy-R-Us.
    Submarine Qualified, Chief Inducted, Navy Retired

  10. #10
    RC Qualifier Iansprouse1's Avatar
    Join Date
    Dec 2016
    Location
    Asheville NC
    Posts
    439
    “Mediocre Markets ”


    Sent from my iPhone using Tapatalk
    Slash 4x4, Stampede 4x4, SCX10, Bearded Dragon

  11. #11
    RC Turnbuckle Jr. Nitronaught's Avatar
    Join Date
    Oct 2005
    Location
    South Florida
    Posts
    19,522
    Flash from "Corporate Headquarters" the new name will be "BailedOutOfLawsuitsHobbyco.com"

    lol Most cases claiming bankruptcy is a way to get out of a lot of litigation.
    All Lives Matter
    United We Stand, Divided We Fall

  12. #12
    RC Turnbuckle Jr. Greatscott's Avatar
    Join Date
    Mar 2004
    Location
    N. Idaho... Da Sticks!
    Posts
    8,091
    Quote Originally Posted by Nitronaught View Post
    Flash from "Corporate Headquarters" the new name will be "BailedOutOfLawsuitsHobbyco.com"

    lol Most cases claiming bankruptcy is a way to get out of a lot of litigation.
    The bankruptcy pretty much invalidates Traxxas lawsuit, Traxxas can't claim that Hobbico made money off of the design.
    Submarine Qualified, Chief Inducted, Navy Retired

  13. #13
    Marshal ksb51rl's Avatar
    Join Date
    Nov 2006
    Location
    Northern NJ
    Posts
    20,550
    Quote Originally Posted by Greatscott View Post
    The bankruptcy pretty much invalidates Traxxas lawsuit, Traxxas can't claim that Hobbico made money off of the design.
    You cannot even come close to making that assertion fairly.
    Consider: If a corporation made $10 million profit off of a design copyrighted by others and lost $100 million via other avenues, did they not still make money off the poached design?
    Whether you believe the suit is valid or not, the bankruptcy has no effect either way on the argument.
    Alt-248 on the number pad = °

  14. #14
    RC Turnbuckle Jr. Nitronaught's Avatar
    Join Date
    Oct 2005
    Location
    South Florida
    Posts
    19,522
    Quote Originally Posted by ksb51rl View Post
    You cannot even come close to making that assertion fairly.
    Consider: If a corporation made $10 million profit off of a design copyrighted by others and lost $100 million via other avenues, did they not still make money off the poached design?
    Whether you believe the suit is valid or not, the bankruptcy has no effect either way on the argument.
    Actually nobody can assume anything.... It is all dependent on how the court decides what the proceeds from the auctions of assets are to be spent. As far as Traxxas ever seeing any monies.

    They did file a full Chapter 11 Bankruptcy, usually meaning that they will use the monies from the assets to pay off debts and exist no more. They are not trying to re-structure the company after filing bankruptcy they are closing up completely.. Old saying you can not get blood from a turnip. Looks like it may be a turnip Traxxas will be in litigation with as the law suit is till in litigation and has been amended several times trying to wrangle through the Chapter 11 filing.

    I doubt it will go any further than a guilty decision by the courts if proven correctly, it will end their probably.
    All Lives Matter
    United We Stand, Divided We Fall

  15. #15
    Marshal ksb51rl's Avatar
    Join Date
    Nov 2006
    Location
    Northern NJ
    Posts
    20,550
    Agreed, and I did not assume anything. I put out a hypothetical and exaggerated example to illustrate a point. I have no idea if Hobbico made a mint or lost their shirt through the systems in question. I’m just saying that you have to have a major bias to call it one way or the other.
    Alt-248 on the number pad = °

  16. #16
    RC Turnbuckle Jr. Greatscott's Avatar
    Join Date
    Mar 2004
    Location
    N. Idaho... Da Sticks!
    Posts
    8,091
    Quote Originally Posted by ksb51rl View Post
    You cannot even come close to making that assertion fairly.
    Consider: If a corporation made $10 million profit off of a design copyrighted by others and lost $100 million via other avenues, did they not still make money off the poached design?
    Whether you believe the suit is valid or not, the bankruptcy has no effect either way on the argument.
    I need to figure out what smiley to use for sarcasm, perhaps this one...
    Submarine Qualified, Chief Inducted, Navy Retired

  17. #17
    RC Turnbuckle Jr. Nitronaught's Avatar
    Join Date
    Oct 2005
    Location
    South Florida
    Posts
    19,522
    Quote Originally Posted by ksb51rl View Post
    Agreed, and I did not assume anything. I put out a hypothetical and exaggerated example to illustrate a point. I have no idea if Hobbico made a mint or lost their shirt through the systems in question. I’m just saying that you have to have a major bias to call it one way or the other.
    That's quite true, it also looks like the case will probably be dropped as it seems only filings and amended filings have been done. Nothing officially in a court proceeding has seemed to have taken place.... Last amended filing seems to be in 2016.. They are not only suing hobbico but Arma as well which resides in the U.K. but does business in Texas so therefore they can file against them. Arma is s separate entity from Hobbico in the legal world....

    Now if Arrma goes their own way?? Then we may see something come about with it.

    The lawyers are the only winners in this game.
    Last edited by Nitronaught; 04-04-2018 at 02:54 PM.
    All Lives Matter
    United We Stand, Divided We Fall

  18. #18
    Marshal ksb51rl's Avatar
    Join Date
    Nov 2006
    Location
    Northern NJ
    Posts
    20,550
    Quote Originally Posted by Greatscott View Post
    I need to figure out what smiley to use for sarcasm, perhaps this one...
    OMGosh! Really?
    Reading your post, I thought to myself, “This is strange. Gs usually has much broader view of such things. It’s kinda unlike him.”
    And then I launched into a justification of why it was not a viable argument.
    I’d say, “You got me again,” but it’s me who “got me again.”
    If I offended, you have my apology.
    Alt-248 on the number pad = °

  19. #19
    RC Qualifier Iansprouse1's Avatar
    Join Date
    Dec 2016
    Location
    Asheville NC
    Posts
    439
    Looks like the sale is court approved. Got an email from TH today that the sale was official


    Sent from my iPhone using Tapatalk
    Slash 4x4, Stampede 4x4, SCX10, Bearded Dragon

  20. #20
    RC Racer hammie4c's Avatar
    Join Date
    Jun 2016
    Location
    404 not found
    Posts
    179
    I got a very similar email from hobbico. No word from Horizon yet.


    Sent from my iPhone using Tapatalk

  21. #21
    Marshal Double G's Avatar
    Join Date
    May 2008
    Posts
    14,231
    I got the notification from Tower today.
    Important Notice Regarding the Sale of Your Personal Information and Your Right to Opt-out

    Dear Valued Customer:

    As you may be aware, Tower Hobbies' parent company, Hobbico, declared bankruptcy in January 2018 and has initiated a sale process.

    We are excited to share with you that the RC brands and Tower Hobbies website that you have come to rely on over the years will continue. The Bankruptcy Court has approved the sale of Hobbico's RC business to Horizon Hobby, LLC. Horizon Hobby has been in business since 1985 and serves customers in the United States and around the World. Horizon Hobby also maintains a strong online presence and warmly welcomes Hobbico customers to its growing family. With this acquisition, Horizon Hobby looks to build upon Hobbico's great reputation for providing quality RC products to customers across the country. More information about Horizon Hobby can be found at https://www.HorizonHobby.com.

    As part of the sale, Horizon Hobby is purchasing Tower Hobbies' customer databases. The Tower Hobbies Privacy Policy provides that the company will not share any personally identifiable information with any third party without your consent. Under this Privacy Policy, you have the right to opt-out of the sale and the transfer of your personal information to Horizon Hobby, and of receiving future e-mail or mail communications from Horizon Hobby.

    You may elect to opt out by any of the following methods:

    1. Clicking the link at the bottom of this email message;
    2. Sending an e-mail to Tower Hobbies' web master at info@towerhobbies.com with the information necessary for Hobbico to identify you in its database and process your opt-out election (such as your name, email address, street address and telephone number);
    3. Calling the Tower Customer Service at 800-637-6050 or;
    4. Mailing to the following address:
    Tower Hobbies
    PO Box 9078, Champaign, IL 61826

    Please include in your letter the information necessary for Horizon Hobby to identify you in its database and process your opt-out election (such as your name, email address, street address and telephone number). Please note that opting out will remove your proof of purchase data required for warranty service.

    If you opted in to receive promotional emails from Tower Hobbies, you may also receive promotional emails from Horizon Hobby unless you opt out of having your information conveyed to Horizon Hobby.

    Your request to opt out must be received no later than April 6, 2018.

    After the opt-out deadline, Horizon Hobby has offered to conduct a sweepstakes for Tower Hobbies customers who decline to opt-out as a thank you for your interest. We thank you for your past patronage and hope you will always continue to enjoy the RC hobby.

    Sincerely,


    Tower Hobbies
    Hmm. I receive the email at 3:51 PM CST and if I want to opt out my request must be received no later than....TODAY! Give me a little time to think about it.
    Last edited by Double G; 04-06-2018 at 08:09 PM.
    The Super Derecho

  22. #22
    Marshal ksb51rl's Avatar
    Join Date
    Nov 2006
    Location
    Northern NJ
    Posts
    20,550
    I’ve had to opt out three times already. Last time was 8:29 pm EST or 2:10 ago.
    Alt-248 on the number pad = °

  23. #23
    RC Qualifier Iansprouse1's Avatar
    Join Date
    Dec 2016
    Location
    Asheville NC
    Posts
    439
    Double G I got the exact same email


    Sent from my iPhone using Tapatalk
    Slash 4x4, Stampede 4x4, SCX10, Bearded Dragon

  24. #24
    RC Qualifier
    Join Date
    May 2014
    Posts
    978
    Guess it's good the sale went through. I wonder what structure will happen in time to come. Hoping for good outcomes. Has anyone heard any news what the big plans is now that the sale has went through?

  25. #25
    RC Turnbuckle Jr. Nitronaught's Avatar
    Join Date
    Oct 2005
    Location
    South Florida
    Posts
    19,522
    This is going to be interesting to say the least....
    All Lives Matter
    United We Stand, Divided We Fall

  26. #26
    RC poster
    Join Date
    Jan 2015
    Posts
    14
    Does this mean tower will sell Traxxas again?

  27. #27
    RC Turnbuckle Jr. Nitronaught's Avatar
    Join Date
    Oct 2005
    Location
    South Florida
    Posts
    19,522
    Quote Originally Posted by bgblindt View Post
    Does this mean tower will sell Traxxas again?
    Only the lawyers know that one.
    All Lives Matter
    United We Stand, Divided We Fall

  28. #28
    RC poster
    Join Date
    Sep 2020
    Posts
    0
    I want to discuss something related to this forum, i am new here and i want to know the rules of this forum. Can anybody tell me about this?

  29. #29
    RC Turnbuckle Jr. Greatscott's Avatar
    Join Date
    Mar 2004
    Location
    N. Idaho... Da Sticks!
    Posts
    8,091
    Quote Originally Posted by Sanford14 View Post
    I want to discuss something related to this forum, i am new here and i want to know the rules of this forum. Can anybody tell me about this?
    Without knowing the specifics, it is kind of hard to say if it will be allowed or not. If you are worried about your post causing problems, recommend sending a PM to one of the mods and asking if there is a problem with what you have in mind. ksb51rl would likely be your best bet.
    Submarine Qualified, Chief Inducted, Navy Retired

  30. #30
    Marshal Double G's Avatar
    Join Date
    May 2008
    Posts
    14,231
    Rules are at the top of the main forum page.
    The Super Derecho

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •