On Sun, 2 Mar 2008 10:22:41 -0800 (PST), Damon Hynes
<damonhynes@[EMAIL PROTECTED]
> wrote:
[snip]
>But in 1994-1996 no one had any idea that CART would implode in a ball
>of cor****ate *****. Certainly not TG, and he was on the CART board.
>He wasn't trying to save open-wheel, it was a power grab--and who knew
>that CART would ultimately make such cynical moves to kill
>themselves? For that matter, next boom cycle, what's to stop TG from
>floating an IPO? NASCAR? F1 already did it with bad results.
[snip]
I don't know about it imploding, but in '94-96 CART was headed in a
direction not in the best interests of American champion****p racing.
Definitely more interested in going toe-to-toe with F1 than in being
the top of the US racing pyramid. Who knows if that ambition would
have killed it, but that's the scene TG wanted to avoid..
There's no reason for TG to float an IPO. People do that when they
need money, and IMS has a great positive cash flow. Probably even
better now that F1 is gone. And central to an IPO is that you no
longer own the company, can no longer be 100% certain of control.
That is definitely not his style.
Ken Plotkin
|
