Complaint Review: Boston Metals - Woburn Massachusetts

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 My name is Rex Trailer and I have been recently made aware of the fact that a false rep o rt was posted , in my name, on R ipoff rep o rt mean't to cause damage to Boston Metals. I am not the author of the false report and therefore not responsible for the libelous statements contained within the writing. If there is any doubt as to the validity of this message, you are to contact me directly at my e-mail address. I have put Ripoff Report on notice about the false report but they do not respond and and failed to remove the false report.       Rex Trailer of RTV [email protected]

Hello,   Bill Ranney Sr., and Bill Ranney Jr., served a combined sentence of more than 5 years. He and his son founded a business called "Big Top" in which they sold vending machines that couldn't be delivered. Next, they began a Warranty company that quickly earned a "F" rating by the Better Business Bureau, with hundreds of compaints by both the customers and the employees.  Now, they've opened a "Gold Bullion" business in which they are asking people to wire in money. Their employee's at all their businesses are rediculed in front of everyone, lied to about compensation, and constantly fear embarassed and public insults from Bill Sr. Bottom Line: Before you even THINK about doing any kind of business with these two men, do an internet search on them. Look up and read the government reports on their past business "Big Top" vending machines and the jail time served, also go to the Better Business Bureau and look up "General Warranty Services." They have hurt lots of people with their behavior. DO THE RESEARCH FOR YOUR OWN GOOD!

Hello,   Bill Ranney Sr., and Bill Ranney Jr., served a combined sentence of more than 5 years. He and his son founded a business called "Big Top" in which they sold vending machines that couldn't be delivered. Next, they began a Warranty company that quickly earned a "F" rating by the Better Business Bureau, with hundreds of compaints by both the customers and the employees.  Now, they've opened a "Gold Bullion" business in which they are asking people to wire in money. Their employee's at all their businesses are rediculed in front of everyone, lied to about compensation, and constantly fear embarassed and public insults from Bill Sr. Bottom Line: Before you even THINK about doing any kind of business with these two men, do an internet search on them. Look up and read the government reports on their past business "Big Top" vending machines and the jail time served, also go to the Better Business Bureau and look up "General Warranty Services." They have hurt lots of people with their behavior. STAY AWAY FOR YOUR OWN GOOD!

My name is William M. Ranney, Sr., and this writing is in response to an outlandish writing that has appeared on RipOff Report. Com. My first reaction was to ignore what was written, but the writing is so damaging that my response is needed. By doing this I dont mean to give any credibility to Ripoff .com, or the individual who authored the writing. I dont know who wrote the damaging letter to Ripoff, for it wasnt my dearest friend Rex Trailer who wrote the damaging report although it was his name affixed to the writing to lead readers into believing it was Rex who did the writing, and not the culprit who, Im sure, is back underneath his rock hiding from his libelous writing. It would be wishful thinking that this response will bring the individual out of hiding so I can give him a taste of the prison he talks about in his writing resulting from the Federal Laws that he has broken.   Meanwhile our Attorneys will go after Ripoff Report for allowing such outrageous and damaging remarks to be published for the mere sensationalism of the writing without any regard to the truth or the damage it causes. I respect Freedom of Speech and as a Former Combat Marine, and lifetime member of the DAV I can say I have paid my share of the price to protect our First Amendment, but not the abuse of  free speech.  What was contained in that writing has nothing to do with Free Speech, but instead, only   anonymous libelous statements meant to discredit, disgrace, and to cause damage to Boston Metals.  

To begin, the Author is still unknown, and so is the motivation for the writing of the so-called report, for Rex Trailer was not the writer. Also, Gary Roberts, who was identified as a convicted Felon in the writing has never been convicted of any crimes at any time in his life.  And all the clients of Boston Metals have received their Gold or Silver, and we have never had any customer complaints. If anything, only accolades because all of our clients have increased their wealth through the Gold purchases we have recommended and Facilitated.

There are other lies and inaccuracies contained in the writing, but there is also truth, at least to some extent, contained in the writing.  I will now address those truths as accurately as I can.

                I first arrived on Wall Street in the fall of 1978. I was energetic, young, and confident, but most of all I knew how to sell Commodities better than anyone else.  I had previously worked for First Commodity Corporation of Boston, starting out as an Account Executive and ending as their first National Sales Manager.  First, was a great training ground for anyone interested in selling Commodities. They had one of the most intelligent men Ive ever known as their Operations Manager, his name was Hank Maas. Nobody was more compliant in the way Commodities were sold than Hank. He was honest and brilliant. We became best friends at work. I became a better, and more compliant, Salesman because of Hank.  We both agreed that the truth sold better than anything. We would target certain Commodities that had something to indicate they were about to move forward.  Everyone believed that Orange Juice would rise in February because the truth is there is usually frost in Florida that month, and in real bad winters everywhere else.  When Snow Flies Copper Rises, are just two examples. The sales presentation amounted to presenting the information, or evidence that explains the potential in the most honest and persuasive manner possible. And thats what I really did best.

                In New York I became a partner in a company called: International Metals Exchange. We had an office on Wall Street and we specialized in selling Gold Deferred Delivery Contracts.  I knew then Gold was in for a major move. All the indications were there, and you could feel it. It was easy to sell because once you explained what was happening in the marketplace -people bought Gold Contracts.  We sold directly to the public Gold Contracts, and in turn we would back each and every Contract with a Contract purchased with our Clearing House Broker. We used two Clearinghouses, Cohn Commodities of Conn., and New Era Precious Metals of New York. One of the other partners in the firm arranged the contract between us and the Clearinghouse Brokers. We were never naked, every position was always covered.

                     Both Clearinghouses went Bankrupt and defaulted on all contracts. Their market method of Hedging had failed.  We were left holding the empty bag. Nothing ever happened to the Clearinghouses because they were not dealing directly with the public, and it was determined that it was my fault.

                I became a Target for Federal Prosecution.  There were endless months of Grand Juries and four major trials that lasted from four to eight weeks each time.  In the end I was convicted and sent to prison. I made many appeals, but lost all.

                Years later my son and I invented a rather unique Gum Ball Machine; it was called the: Big Top Gumball Machine. It was a circus amusement machine that for the first time combined a bulk vending machine and an amusement machine into one machine. Automatic Merchandiser, the industry magazine wrote: Bill Ranney changed gumball vending forever, never again will a child be content by putting a coin into a gumball machine and getting just a gumball without a show.  The machine was so successful that it could generate as much as $500.00 in a single week in shopping center.  We entered into a world-wide agreement with Ringling Bros Barnum& Bailey to use their name on our machines and gumballs. And then along came Wal-Mart.

                We met with David Graham of Wal-Mart ; the executive in charge of all vending. He stated, unequivocally, that he wanted a Big Top Gumball Machine in every Wal-Mart store. Instead of a dream come true, it became the undoing of what was to be a very successful company.  At the time we had been in business for about a year and we had been in all the major trade shows showing-off and selling our machines. The General Public would line up with their kids to put a quarter into the machine, and would be infatuated with the 20-second show we created with Lights, Sounds, and Actions of the circus music and its sounds ending with a gumball coming down a spiral chute.  We sure did change gumball vending forever, but the major players were not having any of that. They called the shots, including what they would pay for a machine, and that was final. Every major player took their shot at us. When Wal-Mart said they wanted our machine, all-out war broke out. Wal-Mart, at the time, did business with only seven vending companies, known as: The Big Seven.  We had previous meetings with these companies, and they would not pay our price. Other companies, mostly small, bought our machines and used them to get into better locations. This also infuriated the big seven against us.  Wal-Mart told the big seven to put our machines in all their stores by the end of the first quarter of next year, this was November. The big seven response to Wal-Mart was for Wal-Mart to find them a cheaper machine. Wal-Mart contacted OK manufacturing of Salt Lake City and invited them in for a meeting. In a letter to Graham following that meeting Ok Manufacturing said that if the Big Top machine was the machine of choice then they would knock it off.  Graham calls us to announce that he is going to have a meeting in a couple of weeks in Bentonville inviting the vending companies and any manufactures out there with a new machine to offer. I thought this was strange because both he and I knew we had the only truly innovative machine. He agreed and said it was more to appease the big seven.  We agreed to show up and shipped a machine to where the event was being held.

                   In attendance in the hall that day was the bulk of the vending industry. All the major companies, and we knew all of them, and they knew us. We had the machine that everyone wanted and we were negotiating with all of them, not only for their Wal-Mart locations, but also for the other major stores under their control. They were like general contractors who would sub out the work of placing and servicing the machines to local area smaller vending companies. It was an easier bookkeeping and control task for Wal-Mart to deal with only seven companies than the many that comprise the number of companies needed to service all of the Wal-Mart locations. Of course all seven companies come with a fairly large entourage. The large hall was filled. And all the machines to be demonstrated were lined-up along the wall. All the machines were what everyone was familiar with, and all had no interest. There was one container that had not been opened yet, it was a machine that everyone was talking about that I didnt understand at the time until I saw what was coming out of the box. It was my machine with some obvious minor changes, not improvements, just slight changes, but everything else was the same except the name on it. And it was being offered at a price that was half as much as our machine.  We later learned that OK Manufacturing got one of our machines from our contract manufacturer in Reno Nevada to create the knock-off in time for the show. Our manufacturer in Nevada was a company called: Quicksilver.

                I went berserk! I totally lost it. Graham kept shouting my name: Bill!  Bill!  I shouted back: How could you do this? Are you approving this machine?  A machine had to be approved by Wal-Mart before it could be put into a store. Its like seeing your brain child kidnapped before you, I yelled to him. I went over and got into the faces of the two brothers that owned OK Manufacturing trying to provoke. I wanted to punch somebody I was so mad. The meeting had to be called to an end. There was nothing else anyway for anyone to see.  There is much more to say that transpired, but the bottom line is that I ended in a hotly contested civil litigation that went on for two years against Wal-Mart, Sams Club, OK Manufacturing, and four other major defendants. They were represented by many large law firms in addition to each companys Legal Dept that were large enough to rival most law firms. We started out with a medium sized law firm, but had to leave because they could not take on such a battle. We ran an ad in Lawyers Weekly and hired a young woman aspiring to be a Civil Litigator. And she went to work. During some periods of Discovery it would take us an hour and a half just to open and separate the mail.  Near the end she nearly had a nervous breakdown and almost overnight moved to Israel. We never heard from her again. We found a small law firm that stated they would take the case. The files were so extensive that we had to load them onto a pallet to be lifted by a pallet jack and onto a truck in order to deliver the files to the new Lawyer. Needless to say they were overwhelmed.

                We were dead in the industry everyone was buying the OK machine at half the price. Orders that were placed with us that were cancelled because of the OK machine I refused to return deposits.

My son and I were indicted for failing to deliver machines. We were a bankrupt company. We were indicted because of my past Wall Street conviction. The government knew we would be easy to prosecute. Wal-Mart was eventually cut out of the Civil Case by the court and OK Manufacturing agreed to pay us $100,000.00, which they did.

                My son and I had to make a difficult decision. We both knew we had not committed a crime, but also knew the capability of a Federal Prosecution. I convinced him to plead guilty for a non-prison sentence. He had a family to take care of, and losing at trial meant five years for sure. The government agreed not to imprison my son. I went to trial and lost. The people did, in fact, put a deposit down on a machine and never did receive a machine. Despite the circumstances of the sale, or that we had previously delivered hundreds of other machines. They viewed the sale as a scam. The Trial Judge later stated to an attorney in the case who later repeated to Rex Trailer what the Judge had said. The Judge told the Lawyer that he didnt believe Bill Ranney scammed anyone, and that he was surprised by the guilty verdict. Immediately following my sentence the Judge announced that he would no longer accept criminal cases, and he never did again.

                Now here I am finding myself at age 65 having to explain my life. Maybe it is necessary. My son and I are instrumental members of Boston Metals.  What happened at International Metals Exchange on Wall Street over 30 years ago can never happen again.  Im in the Gold business again because of the same reasons I went into it in the late 70s. I see an unprecedented move about to occur in both Gold and Silver. I have spent most of the past year developing a program that can maximize profits with the rise in the price of both Gold and Silver.  I believe our unique program that maximizes gold ownership has the potential of revolutionizing how people buy Gold. We have attracted considerable interest in what we call our: Five Point Bullion Purchase Plan.  We do not offer any kind of market transactions.  We only sell Precious Metals for immediate delivery, whether paid in full or financed using the Gold as collateral.  All our Precious Metals are stamped 999.9 and bear the name of a recognized refinery. All Precious Metals bought and stored are only stored at Comex Certified Depositories. And all stored Metals are receipted and accessed with a Secured Account Number that allows the owner of the metals to view and control both the purchase and sale of the stored Metals. Nothing is left to risk.

                Ive written this without knowing exactly what I was going to write or how I was going to conclude. I would say the conclusion is all yours, now that you have all the facts.. There have always been disgruntled people; whoever wrote that (I have trouble calling it a report) seemed more than disgruntled.  More troubling; however, is the fact that there is a Forum for such irresponsible and damaging writing.   

Finally, for those of you who have read this to determine whether or not you should allow Boston Metals to be your Precious Metals Facilitator for all your precious metals needs, I would like to add the following:   What I have disclosed about my past would have to lead many into believing that I have had some tough lessons in business and in life. I am certainly not nave, but in fact more vigilant to the rigid rules that govern our industry. I, personally, am held to an even greater standard because of the International Metals Exchange failure. I realize, perhaps, more than anyone else in the industry that there can be no slip-ups. I have to deliver what I promise or I will go to prison.  If you decide to do business with Boston Metals, I can assure you that we are not in this for a prison sentence we are much smarter than that. We are strictly in it for the money by making money for others in the Gold Market that we know so well. If you decide to purchase Precious Metals through our firm you will find that we will earn your business everyday of our business relationship, and you will have no concerns regarding any size Precious Metals purchase made through our firm. If, at any time, you do have a concern, I will take your call and do whatever is necessary to put to rest any concern you may have. Please keep in mind; however, that I am at the point in time (retirement) that I no longer maintain regular office hours, but I will never be too busy or too tired to assist or educate a client in the business of buying and selling Precious Metals.