Championship Auto Racing Teams Hits 52 Week High

[SurfaceUnits]

CPNT Championship Auto Racing Teams 0.29 +0.04

Man, don't we all miss the hourly financial reports and expert analysis from iglooboy and iTool from just a few short years ago. Looking back, the funny thing is that the worse the reports about CART, the better things were for OWRS. I bet they are still scratching their arse trying to figure that out. :confused:

[devilmaster]

It went up near 20%! better call my broker.... ;)

[cameraman]

Why on earth would anyone buy CART stock???

[SurfaceUnits]

It's up 250%. Nice chunk of change could be had.

[nrc]

Are you sure CPNT is still CART? I had some CPNT in an account and I thought it was automatically liquidated at the price the company paid as part of closing down the business.

The gomers like to bounce back and forth between two theories. First, the business model was fatally flawed and bankruptcy was inevitable. Second, Pook deliberately buried the company so Forsythe could buy it. Which they select depends on who or what they're bashing at the time.

The former is partly true, but not in the way gomers like to think. Pook seemed to think he could spend a lot of money and things would start to turn around soon enough that he could rebuild the series. Pook wasn't agressive enough about cutting costs, he wanted to preserve the series as what it was and promote it back to health. That wasn't happening fast enough.

But CART didn't go bankrupt because they had no choice. Keep in mind that in the entire history of CART as a public company, they had no substantial debt. They didn't go bankrupt because they couldn't pay the bills. They made the decision that selling the company made more sense then trying to raise the money to stay in business as a public company. They went bankrupt as a business move because that was the only way to make that transfer quickly enough that it would be worth buying.

It's also not true to suggest that Pook trashed the company for the benefit of Frosythe and Kalkhoven. If you were paying attention during that final season it was clear that there was a lot of friction between Pook and Forsythe and I suspect that was largely based around the fact that Forsythe wasn't going to go out of his way to save CART as a public company. He aleady had his leverage and it was just a question of how things were going to transition.

[Wabbit]

I thought the symbol for CART was MPH. :confused:

[SurfaceUnits]

http://money.cnn.com/quote/quote.html?symb=CPNT

The last thing CART did for CC was to sanction the races for the first year. Something to do with FIA. I don't know if CC can sanction its own races now or not.

[matthole]

http://money.cnn.com/quote/quote.html?symb=CPNT

The last thing CART did for CC was to sanction the races for the first year. Something to do with FIA. I don't know if CC can sanction its own races now or not.


That had to do with transferring the ACCUS sanctioning deal. I remember the usual scumbags/suspects - wilke/*******/howard/cuc13 etc all claiming that part as one reason CC would never be allowed to stage a race. :gomer:

The earl is 'legitimized' :rolleyes: by ACCUS too, I think we should start a ferocious campaign to get their status revoked. A furious barrage, wave after wave of the 'sheet time' lists and other transgressions by that 'league' flooding their office would be fun.

No idea why the 'stock' is still listed, thought they wrapped the last of any ongoing bidness at the end of 05. :shrug:

[cameraman]

**** people, look at the date on the trade.

Dec 29, 2005 :rolleyes:

[SurfaceUnits]

^^^technicality :rolleyes:

ACCUS (Automobile Competition Committee for the United States)

ACCUS serves as the interface between the international FIA organization and its member clubs in the United States. For 2006, the member clubs are Grand-Am, IMSA, USAC, Champ Car, NASCAR, NHRA, SCCA, IRL, and WKA (affiliate member).

IMS president Tony George expressed public concerns about costs, shifts away from oval racing, and foreign drivers in the series. HELls BElls, those concerns lasted a lifetime didn't they. :gomer:

[nrc]

I thought the symbol for CART was MPH. :confused:

The NASDAQ symbol was MPH. When it was delisted from NASDAQ for too low a price (<$1.00) it became CPNT.

[pchall]

Shouldn't there be a Nostalgia Forum to post all this stuff in? We all miss it SO much... :cry: