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6 Nov 2003, 17:53 (Ref:775083)
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#1 | ||
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Racer
Join Date: Aug 2003
Posts: 169
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CART stock sale
Yesterday, 400,000 shares of stock (CPNT.OB) traded for $0.56, it had been trading sluggishly for about $0.50.
Good news? Bad news? Anybody want to start a rumor? |
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6 Nov 2003, 18:02 (Ref:775094)
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#2 | ||
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Veteran
Join Date: May 2002
Posts: 5,276
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I don't understand NYSE so I'm not going to try to look like I do understand it.
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__________________
"Many people depend on motor racing for their livelihood, to them it is a business. To me, it is a sport." -Jim Clark |
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6 Nov 2003, 18:29 (Ref:775108)
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#3 | ||
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Veteran
Join Date: Jun 2002
Posts: 1,301
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OK here's the rumor. I bought the shares and have requested them to be issued in certificates of 10 shares each as opposed to having them held in street name. Total purchase price $224,000+ my $8 discount online trading fee or $224,008.
I'm banking on the idea that the certificates are worth $10.00 each if auctioned as a collectable on ebay. I am also looking at an actual shipping cost of $1.00 per certificate but will charge $2 on ebay. This should bring in a net profit of $215,992. This will be a limited time, special offer as I only have 40,000 certificates to sell. So don't procrastinate. Step right up and place your order before its too late! 
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__________________
A good friend will come bail you out of jail. A true freind will be sitting next to you saying "Damn...that was fun!" |
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6 Nov 2003, 18:32 (Ref:775109)
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#4 | ||
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Veteran
Join Date: Sep 2002
Posts: 3,909
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isnt 0.56 the deal amount....this could mean its happened
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6 Nov 2003, 18:37 (Ref:775113)
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#5 | ||
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Veteran
Join Date: Jun 2002
Posts: 1,301
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Actually, at that price I think someone is buying "yes" votes. Breakeven, is ok if its being done as an insurance policy.
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__________________
A good friend will come bail you out of jail. A true freind will be sitting next to you saying "Damn...that was fun!" |
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6 Nov 2003, 19:23 (Ref:775152)
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#6 | ||
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Veteran
Join Date: Jan 2003
Posts: 4,536
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What?
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__________________
SuperTrucks rule- end of story. Listen to my ramblings! Follow my twitter @davidAET I am shameless ... |
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6 Nov 2003, 19:28 (Ref:775156)
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#7 | ||
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Racer
Join Date: Nov 2002
Posts: 485
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Flatspot,
I 'm not sure about that http://finance.yahoo.com/q/bc?s=CPNT.OB&t=1d Looks like most (about 300K) were traded at 52 cents. We are still in specualtor territory. But on the plus side, I think passage of the sale has moved much closer to 50-50. A month ago there was no chance. By the time the actual voting occurs the "yes" side could be the solid favorite. |
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6 Nov 2003, 23:43 (Ref:775335)
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#8 | |||
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Ten-Tenths Hall of Fame
Veteran
Join Date: Aug 2002
Posts: 1,837
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Opportunity?
Quote:
 And I have some underwater land off the coast of Florida that I will sell real cheap.  
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__________________
No trees were harmed by this message. However, several million electrons were terribly inconvenienced |
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7 Nov 2003, 01:36 (Ref:775386)
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#9 | ||
 Race Official1% Club
Join Date: Dec 2002
Posts: 46,823
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An acre of land plust a share certificate.... yours for $129.95... but wait.. there's more... for the first 250 customers who call now, each will get a sticker with their name on it from DCR..
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__________________
Go woke, Go broke… |
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7 Nov 2003, 04:23 (Ref:775501)
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#10 | ||
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Veteran
Join Date: Jun 2001
Posts: 8,125
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I'll take two!
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__________________
Don't make a fuss, just get on the bus! |
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7 Nov 2003, 15:19 (Ref:776060)
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#11 | ||
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Racer
Join Date: Jun 2002
Posts: 186
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You confuse me with your strange languages.
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7 Nov 2003, 16:35 (Ref:776115)
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#12 | |
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Veteran
Join Date: Nov 2002
Posts: 2,983
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sgw2, the "big buys," like the one a week or two ago by Gryphon, must be "yes" votes because almost all have been bought under the 56-cent price. The sellers are believing the buout won't go down and the buyers/speculators are getting in at less than the buyout to try to make a quick buck. Any buyer under 56 cents is a "yes" vote right now. But the "Vannini factor" is still in play, regardless.
Last edited by indycool; 7 Nov 2003 at 16:36. |
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7 Nov 2003, 17:03 (Ref:776134)
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#13 | ||
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Racer
Join Date: Aug 2003
Posts: 169
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Or maybe it was Vannini paying an extra $20k to buy another half million NO votes?
Stay tuned for the next episode of "As The Stomach Turns" I agree it's time for CART (or whomever) to end all of these sub-plots and got back to racing. Didja see where John Force put some extra padding on the steering wheel and set quick F/C time yesterday? Said his inspiration was Bret Favre with his broken thumb. Shirly Muldowney 4.66/320. Not bad for a "farewell" race. Gotta love that pink parachute.. Sorry about getting off subject. Time to go back over and blow out my other eardrum. |
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7 Nov 2003, 18:36 (Ref:776223)
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#14 | ||
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Veteran
Join Date: May 2002
Posts: 5,147
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Small correction - it would be 200k, not 20k. That's an awful lot so spend to ensure that CART is liquidated.
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__________________
... Since all men live in darkness, who believes something is not a test of whether it is true or false. I have spent years trying to get people to ask simple questions: What is the evidence, and what does it mean? -Bill James |
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7 Nov 2003, 18:42 (Ref:776228)
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#15 | |
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Veteran
Join Date: Nov 2002
Posts: 2,983
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It really makes little sense for Vannini to do it just to buy votes, because what does he get if the proposal is defeated? Either way the vote goes, he feels he's in a position to sue and probably will.
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7 Nov 2003, 20:09 (Ref:776284)
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#16 | ||
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Racer
Join Date: Aug 2003
Posts: 169
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An EXTRA 20k, it had been trading in the low $.50s and somebody bid an extra nickel per share to buy the block.
Actually, I think Flatspot was right about buying "insurance". |
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8 Nov 2003, 00:31 (Ref:776447)
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#17 | ||
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Veteran
Join Date: Jul 2002
Posts: 1,559
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You can read about the stock buyout on this site. Something to ponder, could it possibly be someone fronting for Tony George in an attempt to "kill" the purchase of CART by Gentilozzi's group. I understand that the "Long Beach" crowd have been talking to IRL in case CART goes belly-up. IRL may then speed up their thinking of running some non-oval races.
http://www.autoweek.com/cat_content...._code=06348076 |
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8 Nov 2003, 01:15 (Ref:776469)
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#18 | |
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Veteran
Join Date: Nov 2002
Posts: 2,983
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Doubt it. If TG wanted to spend money on CART, he'd have bought the whole thing and be done with it. Those are speculator "yes" votes being bought as sharks are picking the bones to make a few quick bucks on a two-month investment.
There are many ways this sale and series could go awry, but with the two recent big buys totalling over a million shares, I agree with sgw2 that it's getting closer to a sale. The land mines: Vannini, schedule, TV, grid of cars, money for teams, deals with promoters and most importantly, "time." |
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8 Nov 2003, 01:39 (Ref:776485)
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#19 | ||
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Veteran
Join Date: Jul 1999
Posts: 6,038
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Those aren't really landmines, but more like 50 foot concrete hurdles that have to be jumped over...of course, you can always drill through them with money... and I think that's the only way it'll come through.
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__________________
"I used to hate writing, but now I enjoy it. I realized that the purpose of writing is to inflate weak ideas, obscure poor reasoning, and inhibit clarity. With a little practice, writing can be an intimidating and impenetrable fog!" - Calvin and Hobbes |
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8 Nov 2003, 03:21 (Ref:776540)
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#20 | ||
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Veteran
Join Date: Jun 2001
Posts: 8,125
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The link muggle not has just posted shows a picture of OWRS, and it includes Russo! I honestly thought that he was out of the picture, and no longer involved in the buyout.
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__________________
Don't make a fuss, just get on the bus! |
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8 Nov 2003, 11:13 (Ref:776780)
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#21 | |
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Veteran
Join Date: Nov 2002
Posts: 2,983
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Russo's out of the play. He was drummed out when he said something about merger and Gentilozzi shot him down in public.
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