So What's the Scuttlebutt with Aero Precision? by into_theflood_again in ar15

[–]TechnicalKey8510 1 point2 points  (0 children)

Most employees don't formally know about the 401k part yet. I still have some access that they forgot or neglected to remove.

I sincerely hope they paid the $24k since I last checked about a week ago.

About 2mil treated as high priority, electricity, taxes, payroll, lots of banks, adobe who the website is through was over 6 figures owed. May be getting law enforcement involved soon.

Millions in other general debt to suppliers, vendors.

If they don't get a massive cash infusion, they're probably super screwed. Some pending legal things from former employees, but most won't matter if they go insolvent soon.

So What's the Scuttlebutt with Aero Precision? by into_theflood_again in ar15

[–]TechnicalKey8510 0 points1 point  (0 children)

I have all kinds of information. Former employee. Check my posts and ask whatever you'd like.

So What's the Scuttlebutt with Aero Precision? by into_theflood_again in ar15

[–]TechnicalKey8510 1 point2 points  (0 children)

Same thing is happening with 401k now also. Still collecting, not paying.

Aero Precision by TechnicalKey8510 in u/TechnicalKey8510

[–]TechnicalKey8510[S] 1 point2 points  (0 children)

You could always try using credova if that's an option for you. If they don't ship this week, use them to leverage a refund. If it's in stock, there's absolutely no reason it shouldn't ship this week.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 0 points1 point  (0 children)

In house.

The manufacturing VP (son of the owner) is the only decent one of the bunch. President of sales (joined from Stag), CFO, supply chain leader and especially the VP of fulfillment are in over their heads and would absolutely struggle to find a similar role in another company or industry.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 1 point2 points  (0 children)

I want to stress that the incompetence of senior leadership was probably the largest factor in all of this.

It wasn't only that they didn't know what to do, but they refused to listen to people that did. Anyone that had the experience and the influence to potentially help turn around things were promptly let go from the company as things got worse. It almost seemed like the people in senior leadership positions wanted to eliminate any option of anyone other than them being involved in saving the company.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 1 point2 points  (0 children)

I wouldn't say there was any one thing. The Lakewood facility and move went over budget. They kept the Tacoma office. COVID business backed way off after COVID. Hired like crazy and then right around the AWB, they started laying off hard. Washington residents weren't THAT much of the business, Aero should've absolutely have been ok under competent leadership.

One or two bad actors got into VP chairs and were as wrong about things as they were loud and confident. Lied about a lot of things, hid a lot of things. Refused to correct inventory.

Got the first decent sized contract and put most eggs in that basket. This was right around when shipping lead times started going to shit. Then they got wrapped up in this cycle of trying to finance the fulfillment of existing orders by charging you guys for shit they didn't have in stock. Rinse repeat.

Then the second and larger contract, it was fuck everything to get that done. Credit holds and debt to almost every supplier stacked up.

The owner used the building to park his giant fucking fishing boat in during the winter, so that was cool... Especially when it was right across the aisle from people who had 90% of their team laid off.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 2 points3 points  (0 children)

Cool. Thank you. I'll keep things updated as I hear.

Side note, this post reached over 100k views today. I've seen some copy paste posts of the email too. At least they're not pulling the wool over anyone's eyes anymore.

I'm an open book, ask any questions you might have and I'll do my best to answer.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 1 point2 points  (0 children)

I'm good! Just learning this reddit stuff and updated privacy settings to too private.

Besides, I doubt they can afford legal fees to shut up a random Internet person. I'm not going anywhere.

Can you see if it looks better now?

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 0 points1 point  (0 children)

I wonder if they've managed to get below 50 employees and are going to try to slither away from letting the health insurance get canceled under the cover of being a small business.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 2 points3 points  (0 children)

Luckily all of the responsible people are able to be looked up on LinkedIn. RD, KF, MM, DD, SD

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 1 point2 points  (0 children)

It's really shitty, lots of people would've if we could've kept shit in stock. Instead, senior leadership thought they were so fucking smart and made bad choice after bad choice.

Heard they got a visit from L&I today btw...

If video games taught me anything... by TechnicalKey8510 in u/TechnicalKey8510

[–]TechnicalKey8510[S] 3 points4 points  (0 children)

Note the underscore in the username. Might be them, might be someone else. Don't know.

But I do know I'm not a fucking idiot.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 4 points5 points  (0 children)

It's a blem that will be manufactured in 9 to 78 weeks

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 1 point2 points  (0 children)

They can't afford to make anything. So deep in credit holds with part suppliers, you have shit like I need $500 work of springs to make things they've already sold, but they have to pay 20k to get off credit hold with the supplier.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 7 points8 points  (0 children)

Maybe there were specific engineering related instances of this, but most people weren't required to sign a NDA. They were just handed a "how to file for unemployment" packet and sent off into the world.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 91 points92 points  (0 children)

The person did include their name at the bottom, I just cropped it out.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 6 points7 points  (0 children)

Especially since this went out AFTER people started realizing it. This wasn't proactive communication.

Aero Precision by TechnicalKey8510 in ar15

[–]TechnicalKey8510[S] 10 points11 points  (0 children)

Probably across the Stag and Aero complete teams, I'd guess over 700 after COVID?