One Year

[nissan gtp]

Today is "Champ Car Day" :D

One year ago, we won and FTG got his ass kicked.

:thumbup: :beers:

[racer2c]

Isn't it nice that for the first time in many years the discussions and the press stem around teams/drivers and venues, not if there will be a series. Thanks OWRS!

[Andrew Longman]

Isn't it nice that for the first time in many years the discussions and the press stem around teams/drivers and venues, not if there will be a series. Thanks OWRS!

Sure is :thumbup:

Happy birthday!

[FTG]

:thumbup: :beers:

Done.

[mexican]

I wanna know where I can send Toney one dollar, so at least he can have a bit of the right currency. It could come in handy the next time he decides to waste gas (that's our next milestone... "reunification day") :gomer:

[Spicoli]

I was there and witnessed. Watching that goon walk out the courthouse and attempt to construct a sentence was something to revel in.

"Brought the wrong currency" my ass, he had one of the best law firms in town in his pocket, and STILL the numbskull still can't get through his head that it's HIM that is the fool. Hey, your lawyers can only do what you tell them to do....

From the "winning" firm's website, an analysis of what went wrong for the Idiotgrandson:


http://www.dannpecar.com/

go to newsletters, and click on the Feb 2004 - its all right there in concise brief writing. Definitely an eye opener.


LEGAL NOTES
PAGE 2 PAGE 3 PAGE 4
Current Legal Events of Concern &Interest from the Attorneys at Dann Pecar Newman &Kleiman,Professional Corporation
February 2004
UPCOMING DPNK SEMINARS
IRA
BENEFICIARY DESIGNATIONS
VIOLENCE
IN THE
WORKPLACE
Open Wheel Racing Series Wins Bid for CART Assets
DPNK lawyers manage prevailing effort that decides fate of racing platform
Dann Pecar lawyers Jim Moloy and Jonathan Polak successfully
prosecuted Open Wheel Racing Series,LLC ’s (OWRS)bid to pur-
chase substantially all of the assets of the now bankrupt corporation,
CART,Inc.OWRS ’bid was challenged by Indy Racing League,
LLC,despite OWRS ’support from CART and the CART creditors ’
committee.
To most,at issue in the proceeding was the fate of open wheel racing
in the future – would CART ’s bankruptcy ultimately lead to the death
of CART racing as an alternative to the IRL?The legal issue,however,
was much narrower and ultimately avoided that debate.At issue was
not whether OWRS would put on more or better races.Instead,the
issue was the relative and competitive bene fit to CART ’s creditors.
Many following the proceeding were surprised that the IRL ’s cash
bid of approximately $13 million was rejected by the Court as pro-
viding less bene fit to CART ’s creditors than OWRS ’approximate $3
million bid.However,OWRS ’s bid was not just cash.It also included
assumption of nearly all of CART ’s existing promoter agreements
–agreements that would
require CART (and ulti-
mately OWRS)
t o p u t
on races in places like Canada,Mexico,Australia,California,etc.
The IRL ’s initial bid,and to a certain extent subsequent bids,failed
to include the assumption of those agreements.As a result,evidence
was presented to the Bankruptcy Court that if CART breached those
promoter agreements by not holding races,liabilities to CART ’s
bankrupt estate could total over $200 million.Thus,the creditors
could ultimately receive less under the IRL ’s plan,even though the
IRL offered more in cash.
OWRS ’victory was well-received by those in atten-
dance at the heari ng.When the deci si on was
announced by Bankruptcy Judge Otte,in a perhaps
unprecedented event in bankruptcy court,the
courtroom erupted in cheers.
Dann Pecar is proud to have represented OWRS
in its bid to carry on the legacy of CART,and
wishes OWRS,its principals and its employees the
best in seeing their vision come true.
Mr.
Moloy jmoloy@
dannpecar.
com
Mr.
Polak
jpolak@dannpecar.com

[mantom]

I was there and witnessed. Watching that goon walk out the courthouse and attempt to construct a sentence was something to revel in.

"Brought the wrong currency" my ass, he had one of the best law firms in town in his pocket, and STILL the numbskull still can't get through his head that it's HIM that is the fool. Hey, your lawyers can only do what you tell them to do....


key phrase being "best law firm in town". Indianapolis isn't exactly very high on the prestige list for law firms. Kalkhoven has one of the best in the world. World usually trumps town.

[Spicoli]

key phrase being "best law firm in town". Indianapolis isn't exactly very high on the prestige list for law firms. Kalkhoven has one of the best in the world. World usually trumps town.

Dood - you have absolutely no idea what you are talking about. I work and live here, and happen to know about 50% of the lawyers in town. Yes, the firm that represented IMS/FTG is one of the best. Do you even know who/what firm you are talking about?

Conversely, the firm Dann Pecar, while damn fine lawyers themselves, are down the pecking order (most legal professionals would agree) in prestige, but not necessarily talent. Jim Moloy is a fine attorney, and OWRS was also reperesented by Jim Knauer at Kroger Gardis and Regas, and smaller firm, but with many fine lawyers as well.

Who is this lawyer you are talking about that KK retianed for this matter?
:saywhat:

enlighten me. :rolleyes:

[Mr. Vengeance]

I work and live here, and happen to know about 50% of the lawyers in town.

batter up :)

[mantom]

Dood - you have absolutely no idea what you are talking about. I work and live here, and happen to know about 50% of the lawyers in town. Yes, the firm that represented IMS/FTG is one of the best. Do you even know who/what firm you are talking about?

Conversely, the firm Dann Pecar, while damn fine lawyers themselves, are down the pecking order (most legal professionals would agree) in prestige, but not necessarily talent. Jim Moloy is a fine attorney, and OWRS was also reperesented by Jim Knauer at Kroger Gardis and Regas, and smaller firm, but with many fine lawyers as well.

Who is this lawyer you are talking about that KK retianed for this matter?
:saywhat:

enlighten me. :rolleyes:



Responses like that usually come from people who haven't been outside the neighborhood because they have nothing else to use as a measuring stick to stake their claims.

Law firms usually have the same type of ranking as your news reporting teams (hard news, not the tabloid stuff). The big guys play in New York or Washington DC while the next tier is in Chicago or LA. and so on down the line. When you factor the world into the equation, cities like London also place very high on the list. I think you're confusing the notion of popularity with prestige. I agree that popularity doesn't mean dookie, but prestige means a lot. Prestige is earned through actions and experience, not bought/sold like popularity.

Anton might have the best guys in Indianapolis, but they don't measure up to the guys Kalkhoven obtained from other places around the world over the years. Kind of like comparing college athletes to professional athletes. Anton is playing with the best NCAA allstars, but even the crappy pro teams will beat their ass because they were once college allstars too, but now have experience to add. The way things played out in court it was more than obvious Anton's team had no clue what they were doing. Not just during the CART bankruptcy, but also the Cosworth sale. I think that backs up my point plenty.

[cart7]

Dood - you have absolutely no idea what you are talking about. I work and live here, and happen to know about 50% of the lawyers in town. Yes, the firm that represented IMS/FTG is one of the best. Do you even know who/what firm you are talking about?

Conversely, the firm Dann Pecar, while damn fine lawyers themselves, are down the pecking order (most legal professionals would agree) in prestige, but not necessarily talent. Jim Moloy is a fine attorney, and OWRS was also reperesented by Jim Knauer at Kroger Gardis and Regas, and smaller firm, but with many fine lawyers as well.

Who is this lawyer you are talking about that KK retianed for this matter?
:saywhat:

enlighten me. :rolleyes:


Well, whatever their level of expertise, they seemed to be blindsided when they walked into that courtroom. IIRC they had blank stares when the whole $60 million debt to Cart Inc. was brought forward.

If I also recall correctly, didn't they go wandering through Carts HQ an month or 2 before the hearings snooping around? I can't believe a halfway decent lawyer or accountant wouldn't have caught that $60 mill debt or have figured out that the court would've considered the potential suits and debts to Cart if the races still carrying existing contracts weren't fulfilled.

If you ask me, those guys need to go back to law school.

[racer2c]

If I also recall correctly, didn't they go wandering through Carts HQ an month or 2 before the hearings snooping around? I can't believe a halfway decent lawyer or accountant wouldn't have caught that $60 mill debt or have figured out that the court would've considered the potential suits and debts to Cart if the races still carrying existing contracts weren't fulfilled.

If you ask me, those guys need to go back to law school.

Especially considering that CART was a publicly traded company. Duh!

All lawyers think they are better then the next. I have an unlce who is a major player in D.C. and he thinks he's the best lawyer in the world. They teach 'em that in lawyer skool.

[mexican]

When the decision was announced by Bankruptcy Judge Otte, in a perhaps unprecedented event in bankruptcy court, the courtroom erupted in cheers.

I got goosebumps reading that sentence

bwaaahaahaaahaaaaaaaahahahaha, here's my dollar Anton, take, take...

[nissan gtp]

^ yep

I love this:

When the decision was announced by
Bankruptcy Judge Otte, in a perhaps unprecedented event
in bankruptcy court,thecourt room erupted in cheers.

bottom line: WE WON

:thumbup: :cool:

[Anteater]

Thanks for the reminder of that victorious day--tonight Mr. Anteater and I will toast the best open-wheel racing series in the world, and the people who saved it. Long live the Champ Car World Series!

[Railbird]

366 days ago sucked

[Jervis Tetch 1]

Tony George licks ass.

[Sean O'Gorman]

I still remember jumping up and cheering in the computer room at school when I found out. Wow did I cause quite a scene. :o

[Spicoli]

Responses like that usually come from people who haven't been outside the neighborhood because they have nothing else to use as a measuring stick to stake their claims.

Law firms usually have the same type of ranking as your news reporting teams (hard news, not the tabloid stuff). The big guys play in New York or Washington DC while the next tier is in Chicago or LA. and so on down the line. When you factor the world into the equation, cities like London also place very high on the list. I think you're confusing the notion of popularity with prestige. I agree that popularity doesn't mean dookie, but prestige means a lot. Prestige is earned through actions and experience, not bought/sold like popularity.

Anton might have the best guys in Indianapolis, but they don't measure up to the guys Kalkhoven obtained from other places around the world over the years. Kind of like comparing college athletes to professional athletes. Anton is playing with the best NCAA allstars, but even the crappy pro teams will beat their ass because they were once college allstars too, but now have experience to add. The way things played out in court it was more than obvious Anton's team had no clue what they were doing. Not just during the CART bankruptcy, but also the Cosworth sale. I think that backs up my point plenty.


zer0 would be proud! :gomer:

[racer2c]

I'm confused. Is Dann Pecar Newman & Kleiman the agency that represented OWRS from Indy? If so, who's the international all stars that 'mantom' is referring to?

[Methanolandbrats]

Responses like that usually come from people who haven't been outside the neighborhood because they have nothing else to use as a measuring stick to stake their claims.

Law firms usually have the same type of ranking as your news reporting teams (hard news, not the tabloid stuff). The big guys play in New York or Washington DC while the next tier is in Chicago or LA. and so on down the line. When you factor the world into the equation, cities like London also place very high on the list.... :rolleyes: You might get a C in high school for writing that. There are lots of folks between the coasts who keep on counting after they run out of fingers and toes.

[Spicoli]

I'm confused. Is Dann Pecar Newman & Kleiman the agency that represented OWRS from Indy? If so, who's the international all stars that 'mantom' is referring to?

Yes. And those guys are just like us. Moloy has been to 2 races and digs the series. It's the guy, not the firm, really....Everyone involved in that case was top flite. It's the Client, Dummy!







mantom is defender spelt wrong?
:gomer:

[Andrew Longman]

Well, whatever their level of expertise, they seemed to be blindsided when they walked into that courtroom. IIRC they had blank stares when the whole $60 million debt to Cart Inc. was brought forward.

If I also recall correctly, didn't they go wandering through Carts HQ an month or 2 before the hearings snooping around? I can't believe a halfway decent lawyer or accountant wouldn't have caught that $60 mill debt or have figured out that the court would've considered the potential suits and debts to Cart if the races still carrying existing contracts weren't fulfilled.

If you ask me, those guys need to go back to law school.

It is especially interesting because for the weeks/months leading up to the hearing us putzes here and @7G were spewing that the debted and contract liabilities would need to be part of any settlement.

Maybe TG ignored his lawyers and said, "well let's at least give it a try". Maybe in the absence of bids other than OWRS they thought $13 million would be the best the creditors could do.

Keep in mind that OWRS was only the best bid because they intended to continue running the series and honor their contracts. If they had not shown up at LB a few months later with 18 cars then OWRS would indeed have been the worse offer.

If TG had been really clever he would have yanked Rahal the AF from the series just prior to the hearing, not LB. That would have cast doubt on the series and perhaps swayed the judge.

I'd like to think that TG and his lawyers were caught in the headlights by the clearly partisan crowd there. I'd like to think that he was shocked by the fact that people would actually take time off work to come out and root against him. THAT's cool. The fans taking back their sport! As it should be.

[pineapple]

366 days ago sucked
:thumbup: What a difference a day makes!

[SurfaceUnits]

ONE YEAR LATER …



January 28, 2004 CART assets awarded to Open Wheel Racing Series LLC (OWRS) owners Gerald Forsythe, Kevin Kalkoven and Paul Gentilozzi by a federal bankruptcy judge.



March 8, 2004 Champ Car teams and drivers meet the media at the 2004 Season Premiere in Long Beach, California. The three-day event was highlighted by a fan event held at the Long Beach Convention Center which featured Jimmy Vasser exciting the crowd with a spirited pit stop demonstration.



March 18, 2004 Michel Jourdain Jr. announces his intention to remain in the Champ Car World Series, along with sponsor Gigante, despite the surprise departure of his former team.



March 2004 Cosworth tests “Push-to-Pass” button, allowing drivers to gain 50 extra horsepower at the press of a button. The drivers are given 60 seconds of extra boost at each race.



April 21, 2004 The Champ Car season gets off to a star-studded start in front of 75,000 fans on race day as Tom Cruise takes a spin in the Champ Car 2-Seater around the Long Beach temporary street circuit as part of the pre-race festivities for the Long Beach Grand Prix. Paul Tracy wins the first event run under the new ownership group. The race draws 170,000 fans for the weekend.



June 5, 2004 Ryan Hunter-Reay became the first driver in 12 seasons to lead every lap of a series event, pacing a Bridgestone Presents The Champ Car World Series Powered by Ford record 250 laps at the historic Milwaukee Mile. His teammate Mario Dominguez sets new Champ Car standard for Mexican-born drivers by finishing in the top-10 eight consecutive times.



June 18, 2004 A number of the Champ Car drivers get the opportunity to give their fathers a one-of-a-kind thrill ride in the Champ Car two seater at Portland. A.J. Allmendinger, Bruno Junqueira and Roberto Gonzalez were a few of the drivers that got to give a special Father’s Day gift to their dads.



July 14, 2004 Featherlite extends partnership with Champ Car as “Official Trailer” of the series



July 25, 2004 Paul Tracy moves up to eighth on the all-time Champ Car race winners list passing Johnny Rutherford with 28 career wins after taking the checkered flag at Vancouver.



August 7, 2004 Champ Car drivers and team members joined nearly 400 bicyclists for the Tour de Road America to raise nearly $20,000 in support of the Lance Armstrong Foundation. The bicycle event was run on the eve of the Grand Prix of Road America.



August 8, 2004 Alex Tagliani earns his first career Champ Car victory with a win at Road America. Rodolfo Lavin scores his first podium finish.



August 23, 2004 Bridgestone announces the use of the “alternate tire” for the final three permanent road course events of the year. With special markings on the sidewall of the Bridgestone Potenza, fans in attendance and watching on TV were able to easily identify which teams were using the special tire. The tire, which made its debut earlier in the year, was made of a softer compound and was designed as a way to put more strategy into a team’s race plan.



August 27, 2004 Champ Car announces a three-year contract with McDonald’s, making the fast food giant the “Official Fast Food Restaurant of Champ Car.” This increases McDonald’s role in the series as they are also the primary sponsor on the Newman/Haas championship winning entry driven by Sebastien Bourdais.



August 29, 2004 Jimmy Vasser makes his 193rd consecutive Champ Car start (1993-present) setting a new series record with his start in Montreal, eclipsing the mark set by Al Unser Jr. from 1983-1995.



September 24, 2004 Champ Car announces a multi-year contract with Roshfrans, making them the “Official Lubricant of Champ Car.” The deal marks the first time a Mexican company has become an official sponsor of the series.



September 25, 2004 Champ Car returns to Las Vegas for the first time since 1984 when the series raced around Caesars Palace. The 2004 edition saw Champ Cars race on the Las Vegas Motor Speedway oval with Sebastien Bourdais edging out his teammate Bruno Junqueira for the victory in the sixth closest finish in Champ Car history.



September 29, 2004 The Champ Car logo makes its first flight into space aboard SpaceShipOne as part of the ANSARI X PRIZE competition. As a sponsor of the competition the Champ Car logo was affixed to SpaceShipOne, which became the first private manned aircraft to fly into space and return safely.



October 28, 2004 2005 schedule is announced with 14 race dates, including the addition of three new venues in the cities of Edmonton, Alberta, Canada, Silicon Valley, and Ansan, Korea and may see more additions before the beginning of the 2005 season



November 7, 2004 Sebastien Bourdais completes his championship winning season with his seventh pole and eighth win of the season at Mexico City. Bourdais tied for second in both the most wins and most poles in a season.



November 15, 2004 Series co-owners Kevin Kalkhoven and Gerald Forsythe purchase Cosworth Racing, which is the company that provides the engines for the Champ Car World Series.



November 20, 2004 San Jose, California is confirmed as the site of a new street race for 2005. The race is aligned with the Canary Fund, which becomes the Official Social Cause of Champ Car.



December 9, 2004 Champ Car signs an agreement with Eurosport to have all of its 2005 races carried live in Europe via Eurosport and Eurosport 2.



December 13, 2004 Champ Car announces a new domestic television deal that will see races broadcast live on NBC and CBS in 2005.



January 13, 2005 Champ Car announces that it will return to SPEED Channel in 2005, with seven events carried on the cable motorsports network. The series also announces that the event in Monterrey, Mexico will be carried live on NBC, marking the first time in eight years that the first six races of the year will be carried live on network television.

[Spicoli]

mantom?

:crickets:


OWN3D :thumbup:

[Steve99]

I'd like to think that TG and his lawyers were caught in the headlights by the clearly partisan crowd there. I'd like to think that he was shocked by the fact that people would actually take time off work to come out and root against him. THAT's cool. The fans taking back their sport! As it should be.

I like the sound of that. :thumbup: I guess TG had to take his currency and go back inside his castle to get away from the rabble.

[Steve99]

mantom?

:crickets:


OWN3D :thumbup:

Do we really need the pissing match about lawyers? We're all on the same side here.

[Andrew Longman]

Do we really need the pissing match about lawyers? We're all on the same side here.

Echo that! :thumbup:

There is enough of that over on the TF splitzville board. What's going on there? That's become downright nasty.

[Spicoli]

Echo that! :thumbup:

There is enough of that over on the TF splitzville board. What's going on there? That's become downright nasty.

Let me answer that:

"Mantom" hasn't a clue what he/she is talking about. I pointed out WHAT I knew to be fact, and WHY I knew it.


Law firms usually have the same type of ranking as your news reporting teams (hard news, not the tabloid stuff). The big guys play in New York or Washington DC while the next tier is in Chicago or LA. and so on down the line. When you factor the world into the equation, cities like London also place very high on the list. I think you're confusing the notion of popularity with prestige. I agree that popularity doesn't mean dookie, but prestige means a lot. Prestige is earned through actions and experience, not bought/sold like popularity.


Totally debateable. Besides - there WERE NO LAWYERS FROM ANYWHERE BUT INDY in that courtroom! I was there. Your best counsel generally comes from the locals. Popularity/prestige? Wrong arguement there. Effectiveness works as the best measuring stick. And locals who know the nuances of the local courtrooms are your best bet. mantom's arguement holds no water - PLUS he/she insults those of us who DO know what we are talking about. I'll take exception to that, AND set the record straight.



Anton might have the best guys in Indianapolis, but they don't measure up to the guys Kalkhoven obtained from other places around the world over the years. Kind of like comparing college athletes to professional athletes. Anton is playing with the best NCAA allstars, but even the crappy pro teams will beat their ass because they were once college allstars too, but now have experience to add. The way things played out in court it was more than obvious Anton's team had no clue what they were doing. Not just during the CART bankruptcy, but also the Cosworth sale. I think that backs up my point plenty.


You know - you are totally wrong here. Again, there were NO LAWYERS OTHER THAN THOSE FROM INDY in that courtroom. KK might have had a better gameplan, but that didn't necessarrily take some hotshot lawyer from NYC or DC to construct. Give KK the credit for being a better businessman, thinker, overall brighter competitior (like that's a compliment comparing him to FTG :saywhat: )


It is especially interesting because for the weeks/months leading up to the hearing us putzes here and @7G were spewing that the debted and contract liabilities would need to be part of any settlement.

Maybe TG ignored his lawyers and said, "well let's at least give it a try". Maybe in the absence of bids other than OWRS they thought $13 million would be the best the creditors could do.

Andrew hit the nail on the head. In the end, you can only do what your client/customer wants you to do. MAYBE Ftg didn't bring the right AMOUNT of money....maybe FTG was caught in the headlights? your guess is only what mine is - a guess. But an educated guess would be that he could/would not go farther up on his bid. And it appears that something made him hesitate from moving higher up.

I remember during the breaks in the trial, we were all pretty confused as to what the Judge was looking for. In the end, I think the arguement that jobs would be lost (a LOT of jobs!) and FTG couldn't or wouldn;t take over the Canadian/Aussie/Mexican races was the stuff that tipped the scales. I thought to myself at the end of that day - why would he show up, only to get his A$$ handed to him, and especially with good/damn good lawyers in Efroymson and Mattingly at his side?

Evidently, they weren't prepared, or more likely, their client wasn;t very bright, prepared, or resolved.

[Andrew Longman]

Spicoli,

Mantom made an (I'll say) ignorant comment about the provincial competence of TG's Indy lawyers. You thumped him pretty good. I think we can all agree that any corporate lawyers traveling in circles such as TG and KK are probably pretty good.

I'm just saying let's move off bashing/defending Indy lawyers and bashing each other. There's a bar fight going on at TF and I'd hate for that to happen here.

Let's allow Mantom his one embarrasing comment and forget it.

sorry Mantom :)

Meanwhile I am going to enjoy remembering TG having his ass handed to him (whatever the reason).

[oddlycalm]

ONE YEAR LATER …. Nice summary, and it demonstrates very effectively how much has changed in a year. While each step was a big one, the Cosworth acquisition really changed the complexion of the game. Meanwhile, TG has made one textbook business mistake after another, but it's the one he made a year ago is the one that will be his undoing.

mantom - Your theory is on the right track, but your error was applying it to the attorneys. This wasn't a "who you know" situation or a complex legal problem, just a simple bankruptcy hearing so heavy guns and influence peddlers from bigger cities offered no real advantage. The best attorneys on the planet can only offer advice. It's always up to the client to decide what to do, and you can count TG's attorney putting all the facts in front of him. You can also bet that there were people on hand who knew how to read a balance sheet, even if TG doesn't.

TG made bad decisions out of inexperience and arrogance. He missed taking the kill shot when he had the opportunity, thereby violating a fundamental rule of business and war. This is where your theory about limited local experience up against well experienced players is on the money. TG didn't make his fortune, it was handed to him. He didn't grow it by exanding into international dealings and competing against experienced business people, he stayed home in his secondary market location and sat at the top of a pile of assets somebody else had accumulated and contented himself to strut around the local turf playing the big shot. He hasn't been bloodied in past acquistion deals, so he has none to learn from. His family's pile of assets may be tall, but his wisdom is short.

oc

[Railbird]

very well put oc

[Spicoli]

Spicoli,

Mantom made an (I'll say) ignorant comment about the provincial competence of TG's Indy lawyers. You thumped him pretty good. I think we can all agree that any corporate lawyers traveling in circles such as TG and KK are probably pretty good.

I'm just saying let's move off bashing/defending Indy lawyers and bashing each other. There's a bar fight going on at TF and I'd hate for that to happen here.

Let's allow Mantom his one embarrasing comment and forget it.

sorry Mantom :)

Meanwhile I am going to enjoy remembering TG having his ass handed to him (whatever the reason).


I got ya, fo shizzle. I'm not often right about stuff, mostly cause I'm full of ****, so when I am right, and I DO know what I'm talking about, I like to revel in it. :D

OC also did a good job of putting perspective on this.

To take what OC said even further (and Rail and I have asked this question as well) - when are the LOCALS gonna wake up and recognize the damage? I suppose - never, and that's why FTG's attitude continues down a pompous, yet errouneous and tragic path. The "Yes Men" surrounding him see one thing: $$$$$. I'll bet 99% of the people he gives Pace Cars to drive for free in May, don;t watch another race all year.

Indy used to be the hotbed of OW, as we all know....and the fact that IMS added Hickyard400 & USGP are hailed by many as great econ development wins. But nobody is calling him on the carpet for his destruction of the I500. I suppose it just affirms that FTG has pretty much killed off the anywhere near avid fan. Besides maybe a few spots near 16th & G-town, you can hardly find anyone representin OW in Indy....wether that be sportin a shirt, chattin the chat, watchin a race, or workin in it; there are but maybe a thousand or so who follow the action here. I know guys working on EARL and CCWS teams that don't even watch the races anymore. And lord knows the gomers/lemmings are about done with this final "Vision" that doesn't include the Boats, Foyts, Unsers, or Laziers...

I'm also not sure that the locals care anymore, becuase they have 3 races, 3 times as many free tickets, 3 times as many free pace cars, and not many difficult questions (like - who won last year's 500?)

[Cam]

Nice summary, and it demonstrates very effectively how much has changed in a year. While each step was a big one, the Cosworth acquisition really changed the complexion of the game. Meanwhile, TG has made one textbook business mistake after another, but it's the one he made a year ago is the one that will be his undoing.

mantom - Your theory is on the right track, but your error was applying it to the attorneys. This wasn't a "who you know" situation or a complex legal problem, just a simple bankruptcy hearing so heavy guns and influence peddlers from bigger cities offered no real advantage. The best attorneys on the planet can only offer advice. It's always up to the client to decide what to do, and you can count TG's attorney putting all the facts in front of him. You can also bet that there were people on hand who knew how to read a balance sheet, even if TG doesn't.

TG made bad decisions out of inexperience and arrogance. He missed taking the kill shot when he had the opportunity, thereby violating a fundamental rule of business and war. This is where your theory about limited local experience up against well experienced players is on the money. TG didn't make his fortune, it was handed to him. He didn't grow it by exanding into international dealings and competing against experienced business people, he stayed home in his secondary market location and sat at the top of a pile of assets somebody else had accumulated and contented himself to strut around the local turf playing the big shot. He hasn't been bloodied in past acquistion deals, so he has none to learn from. His family's pile of assets may be tall, but his wisdom is short.

oc

We need a HOF for this post! :thumbup:

[nissan gtp]

I'll bet 99% of the people he gives Pace Cars to drive for free in May, don;t watch another race all year.



the first time I read that, I thought your said paper cars


:rofl: :laugh:

[Amanda B.'s Mom]

A lot of wonderful things have happened the past year. Yes, it is good not to be worrying if there will be a series the following year.

[rabbit]

Maybe one day a year we could change the series' name to "DannpeCar."

Just an idea. :gomer: