Race Face's Demise - An Insiders' View

Technical Onterrible riding at it's finest:

that is not representative of the bruce where I lived in st. catharines, it was super rocky, and super tech….but it was still ontario….

a hiking trail that goes from just north of niagara falls all the way to the bruce peninsula…

And most of it is verboten for bikes.

Technical Onterrible riding at it's finest:

LOL. Looks like an area in the Rouge. Biggest problem in the Southern part of Ontterible is that it's under the microscope.

Somewhere near Brockville,

that is not representative of the bruce where I lived in st. catharines, it was super rocky, and super tech….but it was still ontario….

I thought you where from Wainfleet.

ohhhhhhhh! even scarier.

And most of it is verboten for bikes.

LOL. Looks like an area in the Rouge. Biggest problem in the Southern part of Ontterible is that it's under the microscope.

Somewhere near Brockville,

Aren't you supposed to be making disparaging remarks about RaceFace here?

Try to stay on topic, people…

Aren't you supposed to be making disparaging remarks about RaceFace here?

Try to stay on topic, people…

I for one am glad that soon my tool kit will no longer include an 8mm and 10mm allen wrenchs for those inevitable times when someones mis-installed crank arms come loose and I'm expected to do something. ;)

Aren't you supposed to be making disparaging remarks about RaceFace here?

Try to stay on topic, people…

i thought wepp payouts came from a federal fund, not the estate

I think you're right
They're paid from a fund, and recovered by the government with the superpriority claim on current assets

I am speechless.

It's federal program - the Wage Earner's Protection Program Act. The Bankruptcy and Insolvency Act was amended in 2009 such that unpaid wages, vacation pay, commissions, employee source deductions, union dues, and unfunded pension contributions would be assembled under a common claim and granted superpriority, that means they rank higher than the bank's claim (or any other creditor). However the claim rests against the current assets of the company (assets like cash, raw goods, finish inventory, certain investments etc). Claims are limited to (I think) 3 weeks wages and max out at a salary level of $39,000 - so not a whole lot.

I wonder how many Canadians actually know this.

yaaaa… also Grant Thornton screwed up everybody's ROE's so we all just got them 3 days ago. The Services Canada office said that due to the delay we most likely won't see a first payment until 21 days from filling our ROE's (around the end of April). We didn't get a severance package, or our expenses and WEPP isn't supposed to be discussed for at least 45 days. Anybody who worked for RaceFace has gone without a paycheque since March 10th.

that is not representative of the bruce where I lived in st. catharines, it was super rocky, and super tech….but it was still ontario….

Though snow can make it a bit more exciting,

I am speechless.

Impossible

Impossible

NSMB.. making the impossible possible for over a decade.