Autoweek on Shelby's new company

Bart Carter · #1 (**permalink**) 06-25-2003, 11:01 AM

Almost word for word from Autoweek:

Quote:

Shelby will own 70 percent and 30 percent will be held by shell company owners and investors (stock.)

Stock sales proceeds will be used to fund resumed production of new 289 and 427 Cobras and company expansion.

There are no plans to resume production of continuation Cabras this year.

This move severs his ties with the financial ailing Venture Industries.

Anyone care to explain what Shelby is really doing here?

DaveSemko · #2 (**permalink**) 06-25-2003, 11:10 AM

It can be explained, but I'm not sure this is the right place for theroys on why, as it will only cause an uproar (in my opinion).

Excaliber · #3 (**permalink**) 06-25-2003, 11:13 AM

What? It's pretty obvious what he's doing, it's called BUSINESS. Dumping "partners" that can't perform and lineing up new partners that can. It's a smart move that will allow for new operating capital (stock sales). Venture was SUPPOSED to have been a source of operating capital, but I get the impression they never did come through with much and left Shelby holding the bag in some respects.

Ernie

Traveller · #4 (**permalink**) 06-25-2003, 12:18 PM

I'm sure you'll get differing opinions on 'who got left holding the bag' depending upon which party you talk to.

For instance, who's responsible for the colossal failure of the Series 1? Venture?

Venture is bankrupt and Shelby walks away scot-free to start a new company.

Who's 'left holding the bag' again?????