Board Meeting Highlights

[MolsonBoy]

From Champweb....

Board Meeting Highlights

A champweb representative was at the shareholders meeting today, and came back to us with these highlights...

-The big discussion was the engine manufacturers. There are 2-3 that are ready to sign now, and want a normally aspirated engine. The engine manufacturers are meeting today, and will decide whether 2005 or 2006 will be the beginning of the new engine specs.

-The biggest thing, was what wasn't said in the meeting. Not a single mention about going private, or the sale of the company. Our thoughts are that the sale is in a very critical stage, and can be killed or signed at any moment.

-Toyota Atlantics were mentioned a lot throughout the meeting. CART wants to ramp up that series, but at the same time make it more cost appropriate. Looking at $.5 million per year to run a Toyota Atlantic team.

-Asia is very high on the radar screen, quite possibly China.

-The European rounds will be limited to 4 events. Read that Estoril, Germany, England, France...

-Pook told everyone that they have enough money to run through the 2004 season, which is very good news.

[Jay]

Thanks Molsonboy and Champweb!

[The Snout]

Stolen from elsewhere from a guy at the meeting.



engine meeting is TODAY . goal is still 05, but manufacturers say 06 may be better. 2-3 companies. ford still on board. cart will control ECU, no more escalating manufacterer war driving up costs.

pooks comments:

*cbs very much on board, will increase promo efforts.
*continue to move in urban markets, driven by supporting companies, i.e. road courses iffy.
* leading sponsors in cart right now are mexican companies, mexicans are correctly and effectively promoting their drivers.
*looking at a race in northern asia - didn't say where.
*no decision to date on europe 04, but will be limited to 4
*talking to a company regarding a scholarship system, that would move up the champion from BD & TA up the next level.
*wants more american drivers, but not sure how to do it. efforts under way to promote american stars in BDPS & TA.
*Wants to keep costs of champCar at 5.5 to 6 mill annually.
*Wants to see TA costs go to 500k to 600k annually
*Telefonica Series costs less than 1 mill, Spanosh F3 is about 500k, wants to see TA around that level. could see a new chassis besides the Swift. alot was talked about getting the TA on par with F3, etc. Sort of recognizing that rebuilding the ladder system is critical.
*Some TA teams are spending more than others and kicking butt on the other teams thru excessive spending/development on engines. Wants to go to single engine issued. level playing field and showcase driver's talents.
*Pook reiterated that the series has cash for running THRU the 04 series. overall was very upbeat about the continuation of the series, saying it took 2-4 years to almost kill the series, and knows it will take a while to get it back.
*Absolutely nothing was said about privatization. "We can't go there".

[Dov]

I was just about to post the same thread, Snout...Oh Well. Thanks to Spicoli at Crapwagon.com.....I first read it about 5 hours ago, but I wasn't sure if I should post it here.

[Dov]

Also from Crapwagon.com:

derrick walker's comments to dpd.

*reynards is a good entry level chassis - lower cost, lower performance. trying to enhance performance, will take a new undertray. the capability is here in town to develop it. but the teams are going to have to invest to do it. the penske undertray is there, but won't solve the whole problem. thinks the reynard is within about 10% of the lolas.
*Derrick is not in favor of CART giving the Reynard a hand-out and, even if Reynard can be brought up in performance, is concerned about reaction from the Lola camp if Reynard leap-frogs them
*I get the feeling from Derrick that CART is kind of in a 'wait & see' mode about the situation


__________________

[Jay]

To be honest, I don't really see why they should bail out the Lolas....they knew what they were getting and got what they payed for.

[The Snout]

You typed Lolas instead of Reynards Jay, be we know what you mean.

[The Snout]

Originally posted by Dov
I was just about to post the same thread, Snout...Oh Well. Thanks to Spicoli at Crapwagon.com.....I first read it about 5 hours ago, but I wasn't sure if I should post it here.

Love them or hate them those guys know guys.

Might as well share the love and info around

[Dov]

If I want INFO....I head to Crapwagon! God Bless the Crappies!

[Dov]

....and God Bless 10/10ths of course!

[Snrub]

It's nice that CART can do the 2004 season, but it probably means 2005 must be about breakeven.

I thought Rahal said it cost something like 20 million a car per season?

[Dov]

I heard Rahal say the same thing. :confused:

[Dov]

Originally posted by Jay
To be honest, I don't really see why they should bail out the Lolas....they knew what they were getting and got what they payed for.

Jay, didn't Paul Gentilozzi say recently that when RocketSports joined CART they wanted Lolas so they would have a good chance to win right out of the box and that Derrick Walker chose the Reynard chassis to save money!?

[The Snout]

Originally posted by Dov
Jay, didn't Paul Gentilozzi say recently that when RocketSports joined CART they wanted Lolas so they would have a good chance to win right out of the box and that Derrick Walker chose the Reynard chassis to save money!?

Rings a bell Dov, I read that somewhere this week.

[Jay]

Yup, that's what I meant...

[Lee Janotta]

Originally posted by The Snout
*continue to move in urban markets, driven by supporting companies, i.e. road courses iffy.

*groan!*

* leading sponsors in cart right now are mexican companies, mexicans are correctly and effectively promoting their drivers.

Does it matter to anyone else that their drivers SUCK, their whole system is based on nepotism, and people are drinking beer from a country where they wouldn't even drink the water?

As for the rest, sounds good, except for the race in Asia. An unnecessary expense, and everyone already knows my political views on China.

How to get more Americans involved? Pay Paul Tracy a salary to be CART's official North American talent scout. He found Almendinger already.

[Dov]

Lee, it sounds like a good idea to me, but first he has a Championship to win! By the way, what do you mean their drivers suck?

[Emfa]

Originally posted by Lee Janotta
...
Does it matter to anyone else that their drivers SUCK, their whole system is based on nepotism, and people are drinking beer from a country where they wouldn't even drink the water?
...

Not really. The drivers might not be the hottest but Fernandez, Jourdain & Dominguez (to a lesser degree) have all shown that they can cut it; they are bringing money to the series and helping fill the grid. That's OK by me.

And besides, if you can't drink the water you might as well drink the beer!

[Dov]

1) Fernandez - 1 win

2)Jourdain - 1 win...would have also won in Long Beach if not for mechanical problems.

3)Dominguez - he would have won in Germany if Chris "the clown" Kneifel didn't blow another call!

How can you say they suck?

[Lee Janotta]

Okay, they can cut it in a depleted grid where nearly all the stars & most of the top team have defected over the last couple seasons. Fernandez has occaisonal signs of brilliance, but is usually hopeless and disaster-prone. Dominguez can be fast sometimes, but typically ends up mid to back of the field. And nancy-boy, despite the speed he's shown this year, was useless until now, and needs to learn to take things like a man. See my above mention of nepitism.

Okay, "suck" is too strong a word (except for Lavin, who couldn't get a job as a valet!), but none of their guys are anything special. Of course, neither are the Americans in the series, to be fair. But that'll change next year, mark my words.

A.J. Allmendinger: 2002 Barber-Dodge Champion, 2003 Toyota Atlantic Champion, 2004 CART Rookie of the Year, 2005 CART Champion... 2007 World Champion?

[Jay]

If the grid's so watered down, then how come Fernandez hasn't moved any furhter up? or Servia, or Junqueira (despite an arguably better car), Carpentier... You'd think the talent's been watered down from last year, but the stats don't bare that out at all.

"none of their guys have anything special?" Is contending for the Championship as Jourdain is nothing special?

[Lee Janotta]

Well, Jay, it's not as though no one's ever won this championship without being anything special. You need look no further than Vasser's '96 championship.

[macdaddy]

Here's what the series really needs, more than anything...

*CBS very much on board, will increase promo efforts.

And it sounds like we may get word about the engine decision sooner than I had really anticipated. Just wish we knew who the "2-3 manufacturers" are! If Ford is in, then that would leave "1-2" others, which I perceive as being "1" with the other sitting on the fence. Do you suppose that the engine announcement may be made before any privitization announcement?

And one more thing... A message to Dov... And everybody else...
"I first read it about 5 hours ago, but I wasn't sure if I should post it here."
Well, if Snout hadn't posted it, I wouldn't have known it.

[The Snout]

I think it's good having the Mexicans in, there drivers are sound (not every driver to compete in CART is going to be a race winner or Champion), and their fans support the races in their country. A few countries could learn from it. The mexicans haven't got a Senna, but their businesses are backing the drivers they do have, some should be so lucky.

[Dov]

Lee, it sound like your upset because Mexican companies are supporting their drivers and American companies are not!? I would like to see some young American drivers come into CART and F1 and do well, but I can't understand your beef with Mexicans?