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Discussion Starter · #1 ·
Apparently Jamis is in a bit (maybe a lot) of financial trouble. An article in the most recent issue of Bicycle Retailer and Industry News reports that Ideal Bicycle Co. was recently awarded a claim in excess of $500k from G. Joannou Cycles (owner of Jamis). Apparently Jamis did not dispute that it owed Ideal money, or the amount owed, but simply said that the did not have the funds to make payment. The court apparently cleared the way for Ideal to begin seizing Jamis' assets. Anyone out there have any more information on this? I was considering picking up the Jamis line for my shop, but this news has definitely put that on hold. Bummer! :(
 

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jcw said:
Anyone out there have any more information on this?
No. But perhaps Pacific Cycle will buy them out and add Jamis to their line of quality bikes.
 

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I looked online for info on this, including the BRAIN website, and couldn't find anything. Frankly, all I care about is that they remain solvent long enough to deliver my new Dakar Expert intact. :D
 

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Thank you for your conscern. Tuth be told. Litigation/copensation claims is a part of doing buisiness in not only the cycling industry but all of industry. Usually these matters take place behind the scenes. Once in a while a party may feel the need to put matters in the public eye to spice thing up a bit.
I can tell you this. Our dealer base is growing, We're delivering product (sans a coupple units due to supply challenges, carbon), We've invested in to a traveling demo fleet to let consumers ride a Jamis, We're also planning a traveling road show to introduce 06 product pre-Interbike and we will be attending Interbike as well. The 2006 Jamis bicycle Line is expanding and looking stronger than ever.
There's always two sides to every story.

Again, Thank you for your conscern.
Rob

Robert Vander Veur
Jamis Bicycles

jcw said:
Apparently Jamis is in a bit (maybe a lot) of financial trouble. An article in the most recent issue of Bicycle Retailer and Industry News reports that Ideal Bicycle Co. was recently awarded a claim in excess of $500k from G. Joannou Cycles (owner of Jamis). Apparently Jamis did not dispute that it owed Ideal money, or the amount owed, but simply said that the did not have the funds to make payment. The court apparently cleared the way for Ideal to begin seizing Jamis' assets. Anyone out there have any more information on this? I was considering picking up the Jamis line for my shop, but this news has definitely put that on hold. Bummer! :(
 

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Discussion Starter · #5 ·
Thanks for the reply Rob. Always great to get the story from an insider. My partner (former Dragon owner) and I have been quite excited about adding Jamis to our shop as there are few lines out there with such a commitment to steel, and the story in BRAIN was concerning to say the least. I think Jamis is one of the most underrated/overlooked lines out there, which is hard to understand as they frequently get great reviews, and are some of the best values going. Hope to have you guys around for a long time to come.

rvanderveur said:
Thank you for your conscern. Tuth be told. Litigation/copensation claims is a part of doing buisiness in not only the cycling industry but all of industry. Usually these matters take place behind the scenes. Once in a while a party may feel the need to put matters in the public eye to spice thing up a bit.
I can tell you this. Our dealer base is growing, We're delivering product (sans a coupple units due to supply challenges, carbon), We've invested in to a traveling demo fleet to let consumers ride a Jamis, We're also planning a traveling road show to introduce 06 product pre-Interbike and we will be attending Interbike as well. The 2006 Jamis bicycle Line is expanding and looking stronger than ever.
There's always two sides to every story.

Again, Thank you for your conscern.
Rob

Robert Vander Veur
Jamis Bicycles
 

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Good to know someone from Jamis is watching these forums, and even better to know that you're not afraid to chime in from time to time. As an agency marketing professional who works with a variety of international manufacturers, I often counsel my clients to keep an eye on online forums related to their products and to not hesitate to answer questions whenever possible or appropriate. I think it's a sign of confidence in your brand and your products, and it demonstrates a commitment to your customers. Thanks!

Now, about the '05 Dakar Expert I ordered in December... :D ;)

Just giving you a hard time. I know it's already en route to Cincinnati from California. Woo hoo!
 

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rvanderveur said:
We've invested in to a traveling demo fleet to let consumers ride a Jamis
Would that demo fleet happen to include your road bikes? I would love to see you guys roll through the Washington DC area. It would be nice to compare my Comet and Dakar XC Comp to the new versions.
 

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Just proof positive...

...of my statement regarding Jamis' attention to customer service.
Thanks for your fast response!!!!
Can't wait to get my XC Pro next week!!! It's on the way!!!
- Hey justwright03.....we should meet somwhere in the middle for a celebration ride!!!

rvanderveur said:
Thank you for your conscern. Tuth be told. Litigation/copensation claims is a part of doing buisiness in not only the cycling industry but all of industry. Usually these matters take place behind the scenes. Once in a while a party may feel the need to put matters in the public eye to spice thing up a bit.
I can tell you this. Our dealer base is growing, We're delivering product (sans a coupple units due to supply challenges, carbon), We've invested in to a traveling demo fleet to let consumers ride a Jamis, We're also planning a traveling road show to introduce 06 product pre-Interbike and we will be attending Interbike as well. The 2006 Jamis bicycle Line is expanding and looking stronger than ever.
There's always two sides to every story.

Again, Thank you for your conscern.
Rob

Robert Vander Veur
Jamis Bicycles
 

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Yeah, my LBS just tracked the shipment from the West Coast. My Dakar Expert is scheduled to arrived in Cincinnati on Monday morning.

Wanna meet at Cooper's Rock State Park just outside Morgantown, WV that afternoon? ;) I figure that's about halfway between Cincinnati and Delaware, and lotsa rocks there to get our Fox suspension bits broken in! :D
 

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justwright03 said:
Yeah, my LBS just tracked the shipment from the West Coast. My Dakar Expert is scheduled to arrived in Cincinnati on Monday morning.

Wanna meet at Cooper's Rock State Park just outside Morgantown, WV that afternoon? ;) I figure that's about halfway between Cincinnati and Delaware, and lotsa rocks there to get our Fox suspension bits broken in! :D
Too bad yer so far up north!!! If I still lived in Western PA, it could be done. There is some sweet riding down here if you ever make it down.
 

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Discussion Starter · #11 ·
explaination from Jamis

Got the official inside word yesterday from our soon to be inside rep at Jamis. Apparently this problem dates back about 3 years. Ideal used to manufacture frames for Jamis, but they began to move in the direction of quantity at the expense of quality. Jamis was not happy with the product and had an excessive number of warranty problems. Jamis apparently tried to settle at a reasonable amount, but was unsucessful. Ideal sued, and won the first battle, but the door is still open for Jamis to persue it's claim against Ideal for the warranty costs if it chooses. And for the record, we faxed in our dealer agreement yesterday and already have 3 bikes "sold" without having anything on the floor. Not bad for a very small shop in a very small town.
 
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