HDpartners (1 Viewer)
- Thread starter skidaddy
- Start date
Tom
Nitro Member
I'm STILL waiting for Santa Claus to bring me Salma Hayek in a Triple Black Corvette Convertible, but I think I have a much better chance of seeing THAT at this point in time than a "savior" in "HDPartners". Comeon guys, the press on this has been almost non existant and here we are in the off season and not a peep from this so called "company"?? I call bullsh--.
The Counterfeiter
Nitro Member
Sponsors departing like rats leaving a sinking ship, absoute silence on new chassis rules and not a word on how HD Partners are going to save our sport.
Testing starts in eight weeks . . . if a lot of things don't happen very quickly, the 2008 season could get off to an ugly start.
Testing starts in eight weeks . . . if a lot of things don't happen very quickly, the 2008 season could get off to an ugly start.
Call me naive, but I am very positive about the acquisition. HD Partners is a public company, with a responsibility to shareholders to generate a profit and and to grow the business year-to-year. This is a big change from NHRA's non-profit model which has been in place in the past.
I look forward to the acquisition being finalized to see what HD Partners has planned for the future of professional NHRA drag racing. I suspect that they have been in the planning stages for most of this year and that we are about to see what they have in store?
I look forward to the acquisition being finalized to see what HD Partners has planned for the future of professional NHRA drag racing. I suspect that they have been in the planning stages for most of this year and that we are about to see what they have in store?
Nick Name
Nitro Member
Ever think that maybe now that the Russell deal has been settled, there might not be an accusation?
Jay
"Dr. Dirt"
Nitro Member
On one hand I'm with J.C. on this. I have every reason to believe someone/group with that much interest and funding knows something that we don't about what they could do to move such an organization forward in a major way. Why in the heck would they be interested in purchasing it if not?
Now, on the other hand, like Gary Miller says it's "Meet the new Boss--Same as the old Boss." That's what confuses me the most. I suspect it was a requirement of the agreement of sale and that without such there would be no sale without the preservation of the kings.
Now, on the other hand, like Gary Miller says it's "Meet the new Boss--Same as the old Boss." That's what confuses me the most. I suspect it was a requirement of the agreement of sale and that without such there would be no sale without the preservation of the kings.
Jim
Nitro Member
This Darrell Russell stuff floats arounds every so often.
Doesn't ANYBODY think NHRA didn't have insurance for this matter? There were also unspecified "contingencies" in the document that probaly more than covered any outstanding claims within their self-insured retention (dedictible).
I don't think the Russell suit had ANYTHING to do with the transaction.
"Dr. Dirt"
Nitro Member
You know, Art, if you are right, and I hope you are, I wonder how long Mr. Compton will remain at the helm? I'm thinking he will be re-assigned to the anchor position?
Jim
Nitro Member
Most organizations with the cash-flow and types of public exposures NHRA has, would bear a large part of exposure to "everyday and predicictable" kinds of claims (That is, Workers' Comp and General Liability <slips and falls and the like>) up to a substantial amount (i.e. $250,000. to $1 Million per claim) and purchase catastrophic insurance for losses above those "self-insured" or retained losses.
These arrangements usually involve an insurance company issueing policies and handling the routine claims but - IN EFFECT- paying them out of the insured client's checkbook.
The Counterfeiter
Nitro Member
I posted last month that two sources told me that Bruton was somehow behind this whole deal. if the HD deal goes through, he could easily write a check to buy 100% of HD shares. We can only hope this happens.
Things need to happen very quickly or the 2008 season will be SOS or worse.
I wish I could weigh in on the optimism, but it's very, very quiet out there.
Well HD recently hired somebody who would be willing to help you do that, if you are interested in a big chunk of the company. Here is a clip from the SEC filing:
WHEREAS, the Company and MJ believe that (i) there are certain holders of the Common Stock (“Potential Sellers”) of the Company who may not be interested in remaining shareholders of the Company following the Acquisition and (ii) there are certain investors (“Potential Buyers”) who may be interested in acquiring shares of Common Stock prior to the consummation of the Acquisition;
WHEREAS, the Company desires MJ to assist in (i) identifying Potential Buyers and Potential Sellers and (ii) facilitating the sale of the Company’s Securities by Potential Sellers and the purchase of the shares of Company Securities by Potential Buyers; and
Back to the me . . . who knows what this means. Identifying potential sellers of HDP stock has got to be an easy exercise . . . structuring a deal for the company, now that's why you'd sign a "Material Definitive Agreement" with a broker. Maybe they do want to sell out to Bruton . . . somebody must be looking to cash out/in because the reason you have a public company is to freely trade shares, this has been and is a flatly traded stock so being public hasn't helped them too much . . . so to do a big deal they have to hire an I banker to help make something bigger happen with their stock.
If it was already a "done deal" like the rumors discussed above say, do you think they would commit to paying a huge brokerage fee just to close the deal . . . I don't think so.
I just hope it works out best for drag racing as a sport.
The SEC filing was on 11/9/07 so its not real current.
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001144204-07-059909&Type=HTML
WHEREAS, the Company and MJ believe that (i) there are certain holders of the Common Stock (“Potential Sellers”) of the Company who may not be interested in remaining shareholders of the Company following the Acquisition and (ii) there are certain investors (“Potential Buyers”) who may be interested in acquiring shares of Common Stock prior to the consummation of the Acquisition;
WHEREAS, the Company desires MJ to assist in (i) identifying Potential Buyers and Potential Sellers and (ii) facilitating the sale of the Company’s Securities by Potential Sellers and the purchase of the shares of Company Securities by Potential Buyers; and
Back to the me . . . who knows what this means. Identifying potential sellers of HDP stock has got to be an easy exercise . . . structuring a deal for the company, now that's why you'd sign a "Material Definitive Agreement" with a broker. Maybe they do want to sell out to Bruton . . . somebody must be looking to cash out/in because the reason you have a public company is to freely trade shares, this has been and is a flatly traded stock so being public hasn't helped them too much . . . so to do a big deal they have to hire an I banker to help make something bigger happen with their stock.
If it was already a "done deal" like the rumors discussed above say, do you think they would commit to paying a huge brokerage fee just to close the deal . . . I don't think so.
I just hope it works out best for drag racing as a sport.
The SEC filing was on 11/9/07 so its not real current.
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001144204-07-059909&Type=HTML
The Counterfeiter
Nitro Member
WHEREAS, the Company and MJ believe that (i) there are certain holders of the Common Stock (“Potential Sellers”) of the Company who may not be interested in remaining shareholders of the Company following the Acquisition and (ii) there are certain investors (“Potential Buyers”) who may be interested in acquiring shares of Common Stock prior to the consummation of the Acquisition;
The "Potential Buyer" is probably Bruton Smith. He recently wrote a check for (I believe) $340,000,000 to buy a NASCAR track so he could shut it down to provide LVMS with a NASCAR "Chase" event.
I don't remember what the HD buyout amount was - perhaps $100,000,000? Would HD Partners be happy with making a 50% profit "prior to the consummation of the Aquisition"? Bruton probably has $150,000,000 sitting in a Petty Cash account. And . . . if this happens, you can bet your ass that a new person with drag racing experience will be in charge of the NHRA.
The "Potential Buyer" is probably Bruton Smith. He recently wrote a check for (I believe) $340,000,000 to buy a NASCAR track so he could shut it down to provide LVMS with a NASCAR "Chase" event.
I don't remember what the HD buyout amount was - perhaps $100,000,000? Would HD Partners be happy with making a 50% profit "prior to the consummation of the Aquisition"? Bruton probably has $150,000,000 sitting in a Petty Cash account. And . . . if this happens, you can bet your ass that a new person with drag racing experience will be in charge of the NHRA.
