Norton

[brian gains]

Having read John Hogan's article it has left me feeling sick to the stomach reading of the dishonest, vile, narcissistic methods of Stuart Garner.
I understand that it is said that the very 'successful' and driven business leaders have the personality trait of being a psychopath and I can quite believe it with this character.
What's also scary is how it also seems these confidence tricksters recognise each other and are drawn together. I fear it is a lost hope that any of the people who had there savings stolen will see any of it again. At the very least lock the b*stard up and hope that at least one of the victims is related to the gaol's 'Mr Big'.

 

[ClassicBiker]

The unfortunate thing is even if justice is served to some extent, those who were defrauded will still be out thousands.
Take Bernie Madoff, he of ponzi scheme fame, for instance. Defrauded loads of 4,800 clients of $64.8 billion. When the dust settled he received a 150 year sentence and has to pay $170 billion in restitution. The problem all that is all 4,800 clients will have to prove how much they lost to a judge. The judge will consider how much money in restitution is available, so will decide how much each client gets. From that $170 billion the gov't will extract court costs, judges salary, gov't attorney fees to make sure the claimants amounts are realistic. The claimants will accrue lawyer costs they will have to cover, not the gov't. Those who were defrauded only received pennies on the dollars they lost. Madoff's wife, two sons, and a grand daughter were named and convicted as co-conspirators. As part of her plea deal his wife had to take money from trusts set up for the grand children. One of his sons got ten years and the other committed suicide, one of four suicides related to the case.
Where am I going with all this with regards to Norton? Quite simply I am afraid there will be far reaching fall out not yet considered or seen. I hope those who lost money will recover all, but I don't see that happening. If they don't recover it all, I hope they recover enough to survive. If they don't recover any I hope they have some safety net or support that they don't feel the need to do something drastic.
In the Madoff case the only winner was Bernie the perpetrator. Bernie gets three hots and cot, a roof over his head, and medical care at tax payer expense for the rest of his life or 150 years, which ever comes first. If Stuart Garner is indicted on any charges stemming from all this and if he is found guilty on any he'll be a guest at the house of many doors and have the same benefits. While those who lost all their money are left to pick up the pieces. Justice served, right?
Steven

 

[ClassicBiker]

What I can't understand is if he looked after his customers proper and got the problems sorted,
He would still have made a lot of money and not be in this trouble.
I worked for myself for 26 years and only got stuffed by one person, And I was told not to do work for him,
It was only a small amount, So I wrote it off.

Because that requires hard work, dedication/self discipline, and commitment. Something that you understand, value, and have as part of your nature as evidence by being self employed for 26 years.
Mr. Garner on the other hand it would appear has none of these admirable qualities.
Steven

 

[mercurycrest]

More on "Mr. Garner:

Norton widen their net: Partnership with sportscar firm announced for latest dealership

 

[ClassicBiker]

First question: Did Jinlang actually deliver the money?
Second question: How much money are we talking about?
Third question: To whom did Jinlang deliver the money?

 

[vibrac]

I see an Indian company have bought Norton
I suppose about now they find out what they have bought and what they have not......

 

[ClassicBiker]

I saw a youtube video about it the other day. Evidently those who had orders in place and deposits to back up those orders are out of luck. It appears there is pecking order for who will get their money/investments back and those whose bikes were in for repair and had parts stripped or went missing, those who placed orders with deposits, and a few others are at the bottom of that pecking order or not even on it. The new company owners are not in anyway required to honors orders placed with the old company. Which I'm not sure I understand. If you buy a used bike/car you buy it with all the problems and issues. You negotiate with the current owner what problems will be rectified before you take possession and what ones you have to deal with. If the current owner sells it as is, well you've bought all the problems. So it appears the new owners have made a good deal for themselves, good luck to them I wish them well. But what about the poor sods who are at the bottom of the pecking order? Who is going to compensate them for their losses? The liquidators/receivers, nope not their responsibility, and I don't see as their's anyway. Those at the top of the pecking order, not their responsibility either, and again it shouldn't be. No it belongs to the old company owner, Stuart Garner. What should happen is those that are at the bottom should have their losses totaled up. Then the percentage that each individual has should be determined. Then Garner's total wealth right down to the fillings in his teeth totaled up and divided up and shared out to them based on their percentage. Garner seems to have a habit, if the press is to be believed, of this kind of behavior. Let's see how he likes being destitute and S.O.L.
Okay rant over. I hope the new owners do well. I hope the world gets another fine motorcycle brand to choose from. I hope everyone who got done over by Garner gets something back.
I'll go back now to yelling at my other computer to process the data I asked it to do an hour go.
Steven