Petty Merger

[Haulin'AssAndTurnin Left]

http://www.nascar.com/2008/news/headlines/cup/06/10/petty.enterprises.merger/index.html

Good News? Or is this another Ginn waiting to happen?.

[colinspooky]

Well, I recently asked why this team went off the rails, and lots of people said money.

So, here we go. Can Boston Ventures get Petty back into victory lane?

Guess it's going to be a wait and see situation - two years before results? Three? Four? Never?

[colinspooky]

Ha - well there's a lesson in finance for Petty - mid way thorugh the live press conference, Speed cuts away in the middle of someone's sentence to a Vonage ad.

:rolleyes:

[Jonesi]

http://www.nascar.com/2008/news/headlines/cup/06/10/petty.enterprises.merger/index.html
Good News? Or is this another Ginn waiting to happen?.

Long term, I have my doubts on how well all these corporate deals with Fenway, Gillett, (Waltrips new partner, etc) will turn out. I think they are used to a much greater/reliable return on investment, if they don't see in a couple of years, what happens?
Currently Dodge is the 4th place manufacter and unlikely to improve much in the next couple of years. Petty is the 4th Dodge team, behind Penske, GEM, & Ganassi. If Robby Gordon ever gets a big enough sponsor to expand to 2 cars, he might even leap frog over them in performance & support.

[Galveston dunes]

Am I mistaken or wasn't this tried already once with the Petty org.?
All I can say is good luck. I like Bobby and hope he can make some more runs at the points before he leaves. I think I read today he's now the flagship driver with a new 3 year deal.again correct me if i'm mistaken.
OH Hello everybody. I didn't get lost been around and really busy.

[Galveston dunes]

OK if you don't like how I did this -Teach me. Don't cut me from the back.
I can cut and paste but finding all the right links is still not in my comp skills.
I'm a fan/not a geek guru.
My apologies to those I may have offended.
"Dunes"
Cut from yahoo sports page nascar section.



His very name is synonymous with NASCAR.

Richard Petty. The King of stock car racing.

He’s a man whose character stands squeaky clean and above reproach. A family man, whose refusal to allow beer sponsorship to have anything to do with his race team is regarded as a throwback to the good old days of stock car racing.

Yet, there he sat during Wednesday’s press conference, awkwardly handing over the keys to his family’s legacy to a private equity firm that boasts, among other things, the National Inquirer as one of its holdings and will insert a Harvard educated former head of a multimedia pornography empire to run Petty Enterprises.



It may have been the sell out to end all sell outs.

The King’s body language spoke volumes. Sitting as far away as possible from the very man who will be in charge of his family’s legacy, Petty fidgeted and played with a half-empty bottle of water, showing very little interest in what others had to say about the future of Petty Enterprises.

This poorly-staged media event was the unveiling of a marriage of convenience between the man who admittedly had allowed his once great family-owned race team to fall victim to changing times and a company whose only attraction was its willingness to part with large amounts of cash.

“Petty Enterprises builds race cars,” Richard Petty said at the press conference. “That’s what we do. So we felt like we needed to bring someone in that can relate to the core of our business and expand what we currently do for our sponsors.”

That someone is Boston Ventures.