http://www.detnews.com/2003/au...3.htm

If anyone can elaborate on this, please do...

 

No useful information from me...but I do find it somehow entertaining that a company that charges so much for their stuff can't pay their taxes...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by krshultz &raquo;</TD></TR><TR><TD CLASS="quote">No useful information from me...but I do find it somehow entertaining that a company that charges so much for their stuff can't pay their taxes...</TD></TR></TABLE>

I dont think it was a matter of them not being able to pay. They were using false write offs, which is worse in my opinion. But, you're right, it's a shame they were so greedy..

 

Welcome to the business of international motorsports...

K

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Knestis &raquo;</TD></TR><TR><TD CLASS="quote">Welcome to the business of international motorsports...</TD></TR></TABLE>

I'd like to propose an amendment:

international motorsports -&gt; motorsports

Warren

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Warren &raquo;</TD></TR><TR><TD CLASS="quote">

I'd like to propose an amendment:

international motorsports -&gt; motorsports

Warren</TD></TR></TABLE>

You aren't suggesting that people would commit a wrong doing to participate in motorsports. Who remembers the Whittington Bros. and others when IMSA GTP when it stood for "Grand Touring Pharmaceutical".

 

Are they the ones that used a motor that was much larger than spec and took reverse out of their transmissions so they could beef up the rest of it? I recall reading about these guys in Vintage Motorsports.

Brian

 

http://www.thestar.com/NASApp/...63851

This article alludes to the fact that the former CEO of Mugen is the one in trouble, maybe not the whole of Mugen....

 

The President of Mugen is in on the scandal and we all know that e couldn't have done it ALONE. So there are other Key people in on this as well. This Has nothing to do with "Motorsports" this is a common occurance throughout ALL BUSINESS and EVEN PERSONAL TAXES. Not Condoning the Actions of the Mugen President, but Japan is in a resission and the Economy is not good. I think it is MORE than Greed behind this scandal. It is SOOO amusing to me how fast this news has spread across this MB. So many JUDGMENTAL PEOPLE.
Sure it's Wrong, but it's not Murder. The President will most likely resign and a NEW President of Mugen will be hired. The Company and it's products are assets to the racing community and I am sure it will continue to be so.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Brian*Blue95M3 &raquo;</TD></TR><TR><TD CLASS="quote">Are they the ones...?</TD></TR></TABLE>

Actually, they are the ones who imported large quantities of dope to the SE and used the profits to go racing. Or used the racing to launder the drug money - whatever. Watch a Miami Vice re-run and you'll get the picture. They were associated with the John Pauls (Jr. and Sr.), the older of which is still in the slam for a conspiracy to commit murder conviction, as I recall.

Vic Lee did a similar thing in the BTCC - and did short time - but these are just the ones who were big-time and got caught. In the Northwest, we had Martin Pang (who burned down a building his family owned and killed a bunch of firefighters in he process).

There are others here who have commented on the racer mindset but one common thread is that they get committed to the GFCP and start making bad decisions to feed the dragon.

K