Tuesday, June 29, 2010

Holley Performance Emerges From Chapter 11

webassets/holley_color.jpgHolley Performance Products Inc. announced that it has significantly improved its capital structure and liquidity through a successful voluntary bankruptcy reorganization that became effective on June 22, 2010. As a result of the reorganization, the Company reduced its debt by over $59 million and obtained new credit arrangements, including a revolving credit facility which provides the Company with substantial flexibility to pursue its growth initiatives.

Sunday, June 27, 2010

1958 SUBARU 360 Rare

*** 1958 SUBARU 360 *** $500
This would be a great parts car for the Rare 1958 Subaru. I believe parts are interchangeable from 1958 to 1971.
Manufactured 1958 thru 1971. Extra doors and extra drivers side fender
I do not have "pink slip" but I will supply a "bill of sale".
Call Dennis 858-945-7768

1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971
  • Location: Scripps Ranch
  • it's NOT ok to contact this poster with services or other commercial interests
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Thursday, June 24, 2010

USF1 fined and barred from F1 for ever

Posted By Editor On 24 June, 2010 @ 10:07 pm In Daily News,Latest Updates | 2 Comments

Jun.24 (GMM) Defunct USF1 has been fined EUR 309,000 and barred from ever competing in formula one.

The American outfit, headed by principals Ken Anderson and journalist Peter Windsor, was granted an entry for the 2010 season but failed to appear.

USF1 has since liquidated its assets, and the sport’s governing body joined the list of creditors with a decision made public on Thursday.

A fine “equivalent to the entry fees for the championship” has been imposed, while USF1 is “definitely” excluded from “any competition” for breaching the sporting regulations and the international sporting code.

In a detailed verdict, the FIA said that because USF1 has no “current financial liquidity”, the fine is effectively the forfeiture of the fee already paid.

But USF1 has also been ordered to pay “the costs incurred by the FIA within the context of this disciplinary procedure”.

The FIA revealed that, during the hearing, USF1 claimed that due to “many negative press comments”, the team’s “sponsorship climate deteriorated after last Christmas.

Bernie Ecclestone’s statement in September last year that “possible USF1 are a doubt” was submitted as evidence, but the FIA retorted that USF1 could have countered the statement had the team’s “funding, sponsorship and construction processes been on target”.

USF1 even argued that negative media coverage amounted to ‘force majeure’, but the FIA procedure ruled there was “no evidence” of that.

Confirmed – Pirelli to Supply F1

The cat’s been out of the bag for a couple of weeks, but now it is official – as of next year, Pirelli will serve as official exclusive tyre supplier to the Formula One championship. The Italian manufacturer will supply all F1 teams from 2011 to 2013 and supply six types of tyre: four for dry weather, one for rain and one intermediate tyre.

Pirelli, sole tyre supplier for the GP3 championship this year, will also exclusively supply the GP2 championship as of 2011. Thus its F1 and GP2 supply agreements join a respectable list of motorsport participation that includes the World Rally Championship, the World Superbike Championship, Rolex Sports Car Series in North America, Motocross World Championship and several other national championships for both cars and bikes.
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