Loft TS-1

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JR.
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Joined: Sat May 24, 2008 7:21 pm
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Re: Loft TS-1

Post by JR. »

emrr wrote:Wow, memory may be wrong but it sounds like the price has gone way up from what I remember 20 years ago, opposite of most legacy hardware on autopilot. Maybe that's a 'go away' price?
Yup, back in the day we sold them for something like $299. So $299 adjusted for inflation since 1980 would be $862. BUT A) we didn't adjust for inflation ourselves during the '80s, so inflation clock should start later, and B) the cost to make a similar product is far cheaper today (smart phone plug-in anybody? )

So they can justify the price based on inflation, but not with a clear conscience. The didn't even pay for the NRE and R&D to design the product (I don't know the exact deal cut with my business partners after I left and they killed the company but I doubt Gold line were very generous, and like I said I get nada.

When I resigned as president of the company I was paid for my 25% stock based on my actual out of pocket investment, not my working without salary for a few years. My cash investment of $5,000 was paid back in TS-1 inventory that I then had to sell. Being a nice guy and not wanting to depress the street price for these, I sold them for full retail from my kit company mail order. Since I was compensated with TS-1 at dealer cost, then sold then at retail, I made a nice profit, while it took me a couple years to sell them off. As i recall I ended up buying some more because they were very profitable for me to sell direct.

Of the original partners I was the only one who did profit... Even the accountant who didn't own stock got called into the IRS... not pretty, but that's what happens when you don't listen to my advice... :lol:

JR
Cancel the "cancel culture", do not support mob hatred.
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