Isn't it getting a bit late?

[ventman]

December 18 for the vote, ISC suit uncertant, Vannini uncertain, schedule uncertain. Don't sponsors have to have their budgets set well before this time?

I like open wheel racing on true road courses. Don't much care for downtown autocrosses, and adding a hootenanie doesn't do much for me.

Or has OWRS already gotten the committments from sponsors, TV, etc. but just not able announce until the deal is done?

[Tara]

If you read the latest release at yahoo Financial News, it sounds like December 18th is the earliest the meeting could take place and it very well may be later.

Championship intends to finalize the proxy statement and mail it to its stockholders as soon as practicable and to set a meeting date for a shareholder vote prior to year-end The meeting could take place as early as December 18, 2003, although there can be no assurance that it will not be later.

http://biz.yahoo.com/prnews/031110/clm063_1.html

[Richard Kimble]

Is it normal for the SEC to send back the statement and ask for revisions?

[jetdoc]

Originally posted by Richard Kimble
Is it normal for the SEC to send back the statement and ask for revisions?

ABSOLUTELY!! If they find discrepancies from one area to the other, they'll ask for clarification/revision. It's normal.

[OW fan in OK]

Originally posted by Richard Kimble
Is it normal for the SEC to send back the statement and ask for revisions?

Duh, it's the Govt. Of course they send things back.

A "1" place says all is fine. Sponsors have already signed on and are just waiting, as dictated to them in shady back room deals, to announce after the "merger" is complete.


Reality, there isnt a single professional corporation going to agree to sponsor anyone or anything until after knowing what they are getting. Cart is far from knowing what they will be next year.

[don7031]

The December 18th date was based on CART getting the go ahead from the SEC last Thursday. Add a day for every day since then until CART is able to send out the Proxy Statement to its shareholders.

[Mackie]

no, everything is right on schedule, "CART will be just fine."

[skypigeon]

"On behalf of Mr. Kalkovhen and myself, I'd like to welcome everyone to this introductory meeting of OWRS and you, the ones who make it happen--the team owners. We look forward to establishing a mutually-beneficial business relationship as--"

"Stow the foo-foo talk, Paul; when are we gonna race?"

"Yeah! My primary's all but pulled the plug."

"Bank's about ready to repossess my team, Paul."

"Can't run this thing without money, Paul."

"YEAH! GOTTA HAVE MONEY! GOTTA HAVE MONEY!!"

"Easy, Derrick; sit down."

"Gentlemen! You have nothing to worry about. Our initial investment is already made, and--"

"Your 'initial investment' won't pay my friggin' wheel budget, Paul!"

"You expect us to all run three-year-old Reynards this year, Paul?"

"GOTTA HAVE MONEY! GOTTA HAVE MONEY!!"

"Sit DOWN, Derrick."

"If you could just give me a few moments to speak... I realize you're concerned that our initial investment may be insufficient--"

--loud laughter--

"--but we've addressed that. And the answer is behind the curtain. Kevin, open 'er up!"

--A curtain behind Paul G. opens, revealing three brand-new Huffy twelve-speed racing bicycles--

"Behold, the dawn of a new day for the Open-Wheel Racing Series! With the aid of our new corporate sponsor, never again will your teams have to pay for the vehicles we race! Plus, think of the health benefits for your drivers--aerobic exercise especially--and the exciting wheel-to-wheel action we can offer at about the same speeds through the streets of Miami, Denver, St. Petersburg, Vancouver, Long Beach! All at a fraction of--"

--Paul G., not allowed to finish, is lifted onto the team owners shoulders and escorted outside to a waiting pier--

[indycool]

skypigeon, I expect this has probably already happened!

[Defender]

Wonder whether they'll have a tent with pitchers of Kool-Aid at that meeting?

[Jim Wilke]

Originally posted by don7031
The December 18th date was based on CART getting the go ahead from the SEC last Thursday. Add a day for every day since then until CART is able to send out the Proxy Statement to its shareholders.

Doesn't look like it is going out today. Already 1 p.m. EST and no filing. They got the SEC's response on November 6. They filed a bunch of docs on Monday and Tuesday and said this:

Championship intends to respond promptly to the comments made by the SEC to the proxy statement and resubmit the revised proxy statement to the SEC later this week.

Hasn't happened yet.