CART officially dead [Archive]

Spicoli

12-29-05, 03:30 PM

It was fun. :(

December 29, 2005 IndyStar

Championship Auto Racing Teams stockholders approved the company's plan of liquidation and dissolution.

The company today filed a certificate of dissolution with the Delaware Secretary of State. The company also announced that its board of directors approved a cash distribution of 29 cents per share to stockholders of record at the close of business today.
CART previously owned and operated the Champ Car World Series.

The company has sold all of its operating assets and is in the process of winding up its affairs.

Copyright 2005 IndyStar.com. All rights reserved

Wheel-Nut

12-29-05, 04:15 PM

Why the sad face?

mueber

12-29-05, 04:28 PM

They were great days, but they proved that you can’t trust a team owner any further than you can throw him and jaded my opinion of many of my heros. The future is Champ Car, and it will be great.

trauma1

12-29-05, 04:31 PM

It was fun. :(
now we have to listen to defenders and wilkies lying crap for the week

CARTNUT

12-29-05, 05:03 PM

So now what do I do with these?

http://www.acme.com/licensemaker/licenses/license_20051229130110_93446.jpg

'NUT :confused:

Spicoli

12-29-05, 06:16 PM

Why the sad face?

I guess because I have alot of great memories about so much fun "back in the day". I'm [edit to add - NOT] crying or anything. In fact I think I'll have me a cocktail right now. :)

Oh, and FTG and those "certain" car owners too. :thumbup:

formulaben

12-29-05, 06:55 PM

An era has passed, and although its easy to be sad, I'm very excited about what the future (and the present) will bring considering where we were 2-3 years ago! Having said that, I'll raise my glass to CART: the best of times and the worst of times...

spinner26

12-29-05, 07:08 PM

Thank God we were ahead of the curve. We learned and are living, they are learning and dieing. :thumbup: Onward and Upward Amigo's and Amiga's. :cool:

Andrew Longman

12-29-05, 07:34 PM

I toast their memory too.

Does anyone see irony in CART dying the same day Panther goes on the block?

TKGAngel

12-29-05, 07:42 PM

They were great days, but they proved that you can’t trust a team owner any further than you can throw him and jaded my opinion of many of my heros. The future is Champ Car, and it will be great.

So do you trust KK, GF and PG to lead Champcar into the future?

racer2c

12-29-05, 09:39 PM

Damn, does this mean that the puzzled looks I get from people when I wear my CART jacket are going to be even more puzzled? Maybe not. :gomer:

formulaben

12-29-05, 10:24 PM

So do you trust KK, GF and PG to lead Champcar into the future?

Yep.

cart7

12-29-05, 10:44 PM

I still love the old logo and have one in the back window of my truck.

http://www.imagecrown.com/images/cart3903/cart.gif

Al Czervik

12-29-05, 11:24 PM

So do you trust KK, GF and PG to lead Champcar into the future?

I've said it in other threads:

We may never get back to the "glory days". However, Gerry and Kevin are the best bet to get us there!

RusH

12-30-05, 12:14 AM

RIP CART.

I still think they should use CART as an identity together with Champ Car.
Today, the man on the street still knows "CART". Use it.

Joelski

12-30-05, 05:13 AM

RIP CART.

I still think they should use CART as an identity together with Champ Car.
Today, the man on the street still knows "CART". Use it.

Another company was using that name until today.

bdjr32

12-30-05, 12:35 PM

Very sad day indeed, spent a lot of great years w/CART

JoeBob

12-30-05, 01:35 PM

Thanks for the memories, CART.

DagoFast

12-30-05, 04:25 PM

My Bro bought me a CART banner on fleabay a few years ago. Now more than ever, I'll cherish it.

Thanks for the memories CART!

Fio1

01-01-06, 12:44 AM

I feel bad for Jon Vannini who bought a s**** load of stocks. I bought about 1000 shares, when it crashed, so I lost a few bucks. But nothing like Vannini or the $2500 stock I have that is now worth 67 cents! :rolleyes:

formulaben

01-01-06, 01:12 AM

I feel bad for Jon Vannini who bought a s**** load of stocks.

Years back I read that he was quite the litigator, and based on his past litigation as a stockholder in other companies it was predicted that he would (again) sue himself richer...didn't quite work out that way. Based on what was rumored, it could have worked if CART would not have had to spend their "treasure chest." Ya win some, ya lose some.

Joelski

01-01-06, 01:59 AM

Vaninny needed a bath. Greenmailer.

formulaben

01-01-06, 02:55 AM

I wasn't going to say it, since I'm totally ignorant of the situtation, but yeah, that was the gist of what I read into it. Dem is high stakes poker.

greenie

01-01-06, 04:28 AM

01-01-06, 10:39 AM

I rather think proudly that my 100 shares at $16 IPO divided by the number of months since ---- comes to about $17 per month I paid to keep "champ cars" ALIVE!!! ........ And I get a tax deduction to boot. :)

I am VERY happy to have done it.

And whats more? RA is back - yee ha!!

Happy New Year

grungex

01-01-06, 12:19 PM

I still love the old logo and have one in the back window of my truck.
Here's my version...

http://tinypic.com/jie3xl.gif

RTKar

01-01-06, 12:43 PM

Thanfully I didn't buy any. I recall thinking, "They don't have any real tangible assets". I wanted to own some but my better judgement pointed me towards some tech crap :shakehead ...at least they had assets and made something.

All in all, it was a great era for open wheel racing in North America.

Clown

01-03-06, 02:16 AM

Still the best god damn racing series ever :D :thumbup:

TravelGal

01-15-06, 07:29 PM

Today's the 15th and I still have heard nothing official from the company. I did have 100 shares, bought at $4 and change. Just for sentimental value, I suppose.

Anyway, my accountant says to take the loss in 2005, as of the liquidation date but how can I do that if I only have what I read on the internet to back it up? It's not monumental but if I can deduct it, I want to!

Accountants out there.......anyone.......?