Bernie Bernie Tony Tony

[stockblock]

Was it first crys for Bernie Bernie will buy us only to be switched to Tony Tony buys us? We shall see today.

http://motorsportsforum.com/contents/showthread.php?threadid=6368&postid=7825

[Railbird]

Kevin and Gerry


It never was Bernie or Tony

[Truth Detector]

Dumb and Dumber?

[speedvis]

Let me add...

BERNIE is NOT buying CART.
TONY is NOT buying CART.
TONY is NOT merging with CART.
The IRL is NOT merging with CART.
F1 is NOT buying CART.
ALMS is NOT buysing CART.

The ONLY thing that happens today is that the a formal decision is made regarding the OWRS proposal/negotiations... and that information will be made known to the stockholders in the next couple of days. There will then be a vote.

They are laying the groundwork for Pook's departure... but I don't think you'll see that announced yet.

The BIG question is when the stockholders are informed... Will Vannini go on record one way or another. It's tough getting info on this deal right now. Things are very quiet. I've not heard "boo" out of the vannini camp since the Saturday BOD meeting in NYC.

Which leads me to believe they've come to some arrangement. But maybe not.

[indycool]

Speedvis, we find ourselves agreeing more and more lately, and I agree with your post 100 percent.

I think today's BoD meeting may be the final maneuvering to see if a deal can be crafted to suit all parties. Presumably, OWRS has raised its offer from 50 cents a share. Some pot-sweetener must be at least offered to Vannini or he can/will sue to shut it down and liquedate. He has lost nearly $17 million of his $18 million investment in share value.

The BoD will need to prove to the shareholders that taking "X" cents a share is more money than immediate suspension of operations and liquedation. That may be tough to sell to a mutual fund manager, who's only looking at the bottom line and not whether race cars run or not.

[indyracer56]

I wonder how many "Vannini's" are out there?

[Joe Angers]

Originally posted by indycool
That may be tough to sell to a mutual fund manager, who's only looking at the bottom line and not whether race cars run or not.

Any mutual fund manager who's stuck it out this long should be fired

[indycool]

Somewhat OT, but another thing they may need to discuss at the BoD meeting today is the most recent Forrest Bond piece regarding sportsbook.com as a sponsor of the Miami race and Walker's team.

Bond quotes the Justice Department's Dan Graber, an assistant U.S. attorney for the western district of Wisconsin who he describes as having successful prosecuted Internet gambling issues.

Can't link it because it's a pay site but a couple of paragraphs from the article:

"According to Graber, any Internet gaming site which accepts bets from U.S. citizens is at risk of prosecution under the Wire Wager Act. Further, Graber said that anyone who aids and abets such a site in soliciting U.S. bettors also risks federal prosecution.

"...simply publishing Sportsbook.com's name represents providing "information assisting in the placing of bets or wagers," according to Graber because the company's name is also its Internet address."

[speedvis]

Originally posted by indyracer56
I wonder how many "Vannini's" are out there?

One.

The other's are institutional investors that bought in at a much lower cost.

[JoeBob]

If that's the case, they'll have to shut down half the websites on the Internet too. I'd love to have a dollar for every off shore casino popup ad I get. I can't beleive that Electronic Arts is putting their entire gaming enterprise at risk because their stupid pogo service has constant online gambling popups.

FOX is likely going under too - those celebrity boxing shows had big ads for online casinos.

Maybe Forrest is too... since he mentioned them as well.

THE SKY IS FALLING!!! THE SKY IS FALLING!!! EVERYBODY RUN!!!!!!!!!!!!!

P.S. How come he doesn't have any problems with Belterra Casino sponsoring the IRL race in Kentucky, or Harrah's sponsoring various races over the years, or Harrah's continuing sponsorship of A.J. Foyt's teams?

[Truth Detector]

I have no idea about Forrest's claims but I think the distinction between the off-shore internet gamblers and the Belterra or Harrah's is that the latter are legal.

[indycool]

Truth Detector has detected a simple truth.

[JoeBob]

A significant portion of Forrests rambling was not on offshore gambling, but rather on how it is unethical for a sport to be sponsored by gambling interests - especially when the gambling interests accept bets on said sport.

[Jim Wilke]

Forrest's main point is that CART and their promoters are advertising this off-shore gambling site and are in violation of the law by helping gamblers find the location. Mere mention of the site's name is promoting gambling. There is also the ethical issue of a sports organization helping folks to place bets on events that they sanction but ethical considerations have never been real important at CART.

[speedvis]

Let me help you with the ethical component.

Q: Is it legal?
A: Yes.

Q: Do they have money?
A: Yes.

End of ethical dilemma.