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Old 05-22-2003, 08:29 AM
Dan Stryffeler Dan Stryffeler is offline
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For a detailed account of what is happening at Venture, go to;

http://www.forbes.com/global/2003/0414/032.html

The part about Shelby is maybe 2/3 of the way down;

"Where was the cash going? Some to make interest payments--a lot into companies controlled by Winget. Between 1999 and 2000 Venture bought $26 million in finished vehicles from Shelby American, a struggling maker of specialty cars 75% owned by Winget, and then recorded an impairment charge of $14 million in 2001 when it could not sell them. Venture officials defend the decision, claiming it was important for the company to keep Shelby going so it could demonstrate to other carmakers its ability to supply parts for specialty vehicles."

- Dan
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